US President-elect Donald Trump is considering declaring a national economic emergency to allow for a new tariff program, CNN reported, citing four sources familiar with the matter on Wednesday.
“The declaration would allow Trump to construct a new tariff program by using the International Economic Emergency Powers Act, known as “IEEPA,” which unilaterally authorizes a president to manage imports during a national emergency,” the report read.
Market reaction
The US Dollar (USD) gathers strength against its rivals following this headline. At the time of press, the USD Index was up 0.62% on the day at 109.35.
Source: https://www.fxstreet.com/news/us-president-elect-trump-considering-economic-emergency-declaration-to-allow-for-new-tariff-program-cnn-202501081142