According to the American news channel CNN, US President Donald Trump is considering declaring a national economic emergency to legally justify a wide range of import duties on products from other countries.
The channel’s report was based on insiders.
According to the sources, Trump is considering using the International Emergency Economic Powers Act. This law gives a president the unilateral authority to manage imports during a national emergency.
Trump would prefer this approach because there would be no strict requirements for imposing import duties. He would then not have to prove that the tariffs are necessary for national security each time.
Consequences of Trump’s trade policy
“Nothing is ruled out,” one of the sources noted, acknowledging that there has already been a heated discussion behind the scenes about declaring a national emergency. Trump’s transition team did not respond to a request for comment from CNN.
Around the world, eyes are on every possible detail of Trump’s new trade policy. Economists fear that the US tariffs will lead to a global trade war and higher prices that will fuel inflation. How everything works out depends mainly on the size of the final tariffs and which products the levies will apply to.
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