Trump could declare national economic emergency to justify universal tariffs, CNN reports
CNBCJAN 20
Report: Trump Planning Economic Emergency Declaration to Justify Tariffs
Above: US Pres.-elect Donald Trump at Mar-a-Lago on Jan. 7, 2025. Image copyright: Scott Olson/Staff/Getty Images News via Getty Images
The Spin
Democratic narrative
Donald Trump seems determined to antagonize the entire global community — friend or foe — before he even takes office. This reported plan, in addition to his threats about taking back the Panama Canal and acquiring Greenland, has inspired a worldwide backlash. Unfortunately for Trump, he's also already harming the US economy.
Republican narrative
Trump's not in office yet and his tariff threats are already having their desired impact, as evidenced by Mexico's better cracking down on the flow of illegal migrants to the US. Whatever Trump has to do moving forward — in terms of implementing tariffs — should be done to make sure other countries aren't taking advantage of the US.