Recently, a United States federal court blocked President Donald Trump’s broad tariffs, stating that the International Emergency Economic Powers Act (IEEPA) does not allow him to impose sweeping import taxes. The International Emergency Economic Powers Act of 1977 (IEEPA) was legislated on 28 October 1977. It gives the US president the power to regulate financial transactions after declaring a national emergency. The IEEPA allows the president to act against unusual and exceptional threats to national security, foreign policy, and the economy, especially if the threat comes from outside the country. It empowers the president to freeze assets and restrict transactions.
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