Trump considers national emergency for new tariff program

U.S. President-elect Donald Trump is reportedly considering declaring a national economic emergency to justify imposing universal tariffs on imports from both allies and adversaries, according to a CNN report on Wednesday citing sources familiar with the discussions.

The move would enable Trump to use the International Economic Emergency Powers Act, which grants a president the authority to regulate imports during a national emergency, to build a new tariff program.

"Nothing is off the table," a source told CNN, confirming that the idea of declaring a national emergency had been discussed.

Trump, who takes office on January 20, has pledged to implement a 10% tariff on global imports, a 60% tariff on Chinese goods, and a 25% tariff on imports from Canada and Mexico, starting from his first day in office.