President Trump has threatening to use the emergency authority granted by a powerful federal law to make good on his Tweeted “order” to US businesses to cut ties in China because of the escalating trade dispute between the 2 nations.
China’s announcement Friday that it was raising tariffs on $75-B , nothing in a $32-T economy, in US imports caused President Trump respond with a 10lb sledge hammer.
President Trump Tweeted, declaring American companies “are hereby ordered to immediately start looking for an alternative to China.”
He later said that he was threatening to make use of the International Emergency Economic Powers Act in the trade war, raising questions about the wisdom and propriety of making the Y 1977 act used to target rogue regimes, terrorists and drug traffickers the newest weapon in the clash between the world’s largest economies.
“For all of the Fake News Reporters that don’t have a clue as to what the law is relative to Presidential powers, China, etc., try looking at the Emergency Economic Powers Act of 1977,” President Trump Tweeted late Friday. “Case closed!”
The act the President a wide berth in regulating international commerce during times of declared national emergencies.
President Trump threatened to use those powers earlier this year to place tariffs on imports from Mexico in a bid to force the US neighbor to do more to address illegal crossings at their shared border. And Mexico fell into line.
President Trump has not declared an emergency with respect to China yet.
Have a terrific weekend
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