The United States tried to prevent the vessel from being released after a US court ruled that the vessel, all oil on board and USD 9,95,000 in cash were subject to confiscation due to violations of a number of US laws on bank fraud and money laundering, as well as the
International Emergency Economic Powers Act and a law on confiscation for terrorism-related activities.
But he would have the authority to prevent future transfers of funds to Beijing under the
International Emergency Economic Powers Act.
Mnuchin said that authority comes from the somewhat obscure
International Emergency Economic Powers Act (IEEPA), a federal law passed in 1977.
Mnuchin said Trump could order companies out of China under the
International Emergency Economic Powers Act if he declared a national emergency.
Trump fired off on Twitter, declaring American companies "are hereby ordered to immediately start looking for an alternative to China." He later clarified that he was threatening to make use of the
International Emergency Economic Powers Act in the trade war, raising questions about the wisdom and propriety of making the 1977 act used to target rogue regimes, terrorists and drug traffickers the newest weapon in the clash between the world's largest economies.
The ERC made its determination to add Huawei Technologies to the Entity List based on the Chinese company's alleged violations of the
International Emergency Economic Powers Act (IEEPA), as well as a District Court for the Eastern District of New York indictment that alleged the manufacturer violated U.S.
The US claims it can seize the ship and the 2.1 million barrels of oil it is carrying over alleged violations of terrorism statutes and the
International Emergency Economic Powers Act.
Trump said in a White House statement that the first round of tariffs would begin on June 10 at 5% "on all goods imported from Mexico." The statement said Trump would carry out his threat under authority from the
International Emergency Economic Powers Act and that he would lift tariffs only "if the illegal migration crisis is alleviated through effective actions taken by Mexico."
The White House said on Thursday that the president would use the
International Emergency Economic Powers Act to implement the new tariffs on Mexico.The announcement came the same day that the White House told Congress it planned to pursue a new trade deal with Mexico and Canada.
The order was issued under the
International Emergency Economic Powers Act of 1977, the law used by every president since Jimmy Carter to impose sanctions on countries such as Russia and Iran.
Trump declared the emergency in the form of an executive order invoking the
International Emergency Economic Powers Act, which gives the president the authority to regulate commerce in response to a national emergency that threatens the United States.
