U.S. President-elect Trump is considering declaring a national economic emergency to provide a legal basis for imposing a broad range of tariffs on allies and adversaries.
The claim is CNN reports On Wednesday, sources quoted people familiar with the matter as saying.
The move would allow Trump to take advantage of International Economic Emergency Powers ActThe bill authorizes the president to regulate imports during a national emergency, the report said.
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“Nothing is off the table,” a person familiar with the matter told CNN, acknowledging that there had been discussions about declaring a national emergency.
The Trump transition team did not immediately respond to a Reuters request for comment.
Trump, a Republican who will take office on January 20, vowed to impose a 10% tariff on global imports to the United States and Impose 60% tariff on Chinese goods.
He also said he would impose a 25% tariff on imports from Canada and Mexico on his first day in office.
- Reuters Additional editing by Jim Pollard
See also:
Trump says he and China's Xi Jinping may 'get along great'
Trump plans to restrict China's electric vehicle supply chain
China to take on more debt in response to Trump tariffs
China's central bank 'allows yuan to depreciate' as trade risk
Chinese media on Trump: “There are no winners in the tariff war”
China 'keen to negotiate trade deal to reduce tariff threat'
Economists say Trump will not impose 60% tariffs on China as soon as possible
Elon Musk's U-turn: U.S. Tariffs on Chinese Electric Vehicles “Not Bad”
US-sanctioned oil tankers banned from docking at major eastern China port
Trump could declare national economic crisis over new tariffs: The post CNN appeared first on FinanceAsia.
