\n<\/p>\n
U.S. President-elect Donald Trump makes remarks at Mar-a-Lago in Palm Beach, Florida, U.S. Jan. 7, 2025.<\/p>\n
Carlos Barria | Reuters<\/p>\n<\/div>\n<\/div>\n<\/div>\n
President-elect Donald Trump<\/a> is contemplating calling a national economic emergency<\/a> to implement his wide-reaching tariff policies, four sources familiar with the matter told CNN.<\/p>\n A declaration of this nature will give Trump power to create the tariff program he made a pinnacle of his campaign for the White House through the International Economic Emergency Powers Act, CNN reported. Also known as IEEPA, the act allows the president to oversee imports in a period of national crisis.<\/p>\n Stock futures weakened<\/a> following the CNN report on Wednesday morning and the U.S. dollar gained in value against most other currencies.<\/p>\n CNN’s sources noted that a final decision has not been reached on whether Trump will declare a national emergency. Trump’s team is also evaluating alternative legal arguments, such as pointing to specific sections of the U.S. trade law, per CNN’s reporting.<\/p>\n The Trump transition team did not immediately respond to CNBC’s request for comment.<\/p>\n Trump pitched taxes on imports frequently on the campaign trail, calling<\/a> at times for fees of 60% or more on Chinese products. Weeks after his victory, the Republican vowed<\/a> to hike tariffs on Chinese imports by 10% and slap 25% fees on products coming from Canada or Mexico.<\/p>\n The Washington Post reported Monday<\/a> that Trump would narrow the focus of his tariffs, an approach Wall Street seems to favor. But the president-elect later denied that report.<\/p>\n Read CNN’s full story here.<\/a><\/p>\n<\/div>\n<\/div>\n\n
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