IEEPA (International Emergency Economic Powers Act)

Definition

A 1977 federal law that gives the President authority to regulate economic transactions during declared national emergencies arising from foreign threats. It allows actions like freezing assets, blocking transactions, and regulating imports/exports when the President declares an unusual and extraordinary threat from abroad.

Examples

• •The President invoked IEEPA to impose worldwide tariffs after declaring trade deficits and fentanyl as national emergencies

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