Trump may declare a national economic emergency to justify global tariffs, CNN reported

President-elect Donald Trump He is – Consider calling a national economic emergency To implement its broad tariff policies, four sources familiar with the matter told CNN.

CNN reported that an announcement of this kind would give Trump the authority to create the tariff program that he made the culmination of his campaign for the White House through the International Emergency Economic Powers Act. The law, also known as IEEPA, allows the president to supervise imports during a period of national crisis.

Stock futures Weakened After the CNN report on Wednesday morning, the value of the US dollar rose against most other currencies.

CNN sources indicated 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 US trade law, CNN reports.

Trump's transition team did not immediately respond to CNBC's request for comment.

Trump repeatedly imposed taxes on imports during his election campaign, Contact Sometimes with fees of up to 60% or more on Chinese products. Weeks after his Republican victory pledge Increase customs duties on Chinese imports by 10% and impose duties of 25% on products coming from Canada or Mexico.

The Washington Post I mentioned Monday Trump will tighten the scope of his tariffs, an approach that Wall Street appears to favor. But the president-elect later denied the report.

Read the full CNN story here.