Golden Finance reports that four insiders told CNN that Trump is considering declaring a national economic emergency to provide a legal basis for imposing a large number of universal tariffs. This declaration would allow Trump to utilize the International Economic Emergency Powers Act (IEEPA) to develop a new tariff plan, which unilaterally authorizes the president to manage imports during a national emergency. One of the sources pointed out that Trump likes this law because it gives broad jurisdiction on how to implement tariffs without strict requirements to prove that the tariffs are for national security reasons. Trump's transition team did not respond to requests for comment.