TWEA (Trading With the Enemy Act)

Definition

A 1917 wartime statute that gave the President broad powers to regulate economic transactions with enemy nations during wartime. IEEPA was enacted in 1977 as its peacetime successor, using similar language but with different triggering conditions and oversight procedures.

Examples

• •President Nixon's 1971 tariffs were defended in court under TWEA's 'regulate importation' language

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