https://www.nytimes.com/2019/08/24/world/europe/trump-g7-summit.html
BIARRITZ, France — President Trump asserted on Saturday that he has the authority to make good on his threat to force all American businesses to leave China, citing a national security law that has been used mainly to target terrorists, drug traffickers and pariah states like Iran, Syria and North Korea.
“It’s difficult to move out of China, and any time they are forced to do so by tariffs, this is a momentous act,” said Ker Gibbs, president of the American Chamber of Commerce in Shanghai. ”We are in no position to give up the China market — it’s too large, it’s too important.”
Under the International Emergency Economic Powers Act, a president can declare a “national emergency” in case of “any unusual and extraordinary threat” to “the national security, foreign policy, or economy of the United States” from abroad. This triggers special authority for the president to regulate “any transactions in foreign exchange” by Americans.
Submitted August 24, 2019 at 09:53PM by coolcomfort123 https://ift.tt/2L62w5x
