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International Emergency Economic Powers Act of 1977 (IEEPA)
If you're following the tariff discussion, you better understand IEEPA. This post aims to make sense of IEEPA, which is a US federal law enacted in October of 1977, & signed by President Jimmy Carter in December of 1977. It grants the President broad authority to regulate international commerce & economic transactions during a declared national emergency.Let me be clear, this is not intended as a pro or anti Trump post. This is simply how I answer a question I have been getting a lot lately: "How can Trump unilaterally implement tariffs absent congressional advice & consent?"As a refresher…
The skinny
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