US President-elect Trump considering economic emergency declaration to allow for new tariff program – CNN

US President-elect Donald Trump is considering declaring a national economic emergency to allow for a new tariff program, CNN reported, citing four sources familiar with the matter on Wednesday. 

"The declaration would allow Trump to construct a new tariff program by using the International Economic Emergency Powers Act, known as “IEEPA,” which unilaterally authorizes a president to manage imports during a national emergency," the report read. 

Market reaction

The US Dollar (USD) gathers strength against its rivals following this headline. At the time of press, the USD Index was up 0.62% on the day at 109.35.