#Trump had cited that statute, the International Emergency Economic Powers Act [#IEEPA], to justify his massive "reciprocal" tariff plan, which set a nearly global 10% baseline duty while slapping higher rates on dozens of individual countries.
Trump rolled out that policy in early April, but after markets convulsed in response he quickly delayed the higher #tariffs from taking effect.
Many of those #tariffs — including revised rates for countries that have struck agreements with the US or have been targeted by one of Trump's recent #trade letters — are set to snap back into place Friday.
#Trump also invoked #IEEPA as his authority to impose tariffs on #Canada, #Mexico & #China over alleged cross-border threats.
