President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a large swathe of universal tariffs on allies and adversaries, four sources familiar with the matter told CNN,

The IMF has warned that jitters surrounding Donald Trump’s threat to impose trade tariffs were driving up longer-term borrowing costs and would add to pressures facing the global economy in 2025. Speaking to reporters in Washington on Friday,

President-elect Donald Trump’s proposed tariffs are pushing companies to keep importing more goods, even as the pressure of a potentially devastating port strike has been lifted.

Donald Trump is reportedly considering declaring a national economic emergency to impose tariffs across several industries, according to CNN. Multiple sources suggest that this move would allow the president-elect to implement tariffs on both allies and adversaries using the Economic Emergency Powers Act.