International Emergency Economic Powers Act of 1977 (IEEPA)

If you're following the tariff discussion, you better understand IEEPA. This post aims to make sense of IEEPA, which is a US federal law enacted in October of 1977, & signed by President Jimmy Carter in December of 1977. It grants the President broad authority to regulate international commerce & economic transactions during a declared national emergency.Let me be clear, this is not intended as a pro or anti Trump post. This is simply how I answer a question I have been getting a lot lately: "How can Trump unilaterally implement tariffs absent congressional advice & consent?"As a refresher, the American constitution established three co-equal branches of government: legislative, judiciary, & executive. This separation of powers was a critical concept to the framers. Having lived under them, many framers feared autocrats & believed that this balancing act among the branches would prevent the rise of autocracy. But power accretes more power. And once gained that power is difficult to relinquish. In an emergency, the President gains enormous power, like going Super Saiyan. And you want that. If there is a hurricane or an earthquake, you want the President to act. But what is an emergency & who declares it such? Why the President, of course!Since the founding of our republic, the executive branch has gained enormous power. Democrats & Republicans alike have pushed the envelop ever further with each party greedily waiting to take the reins back. In my opinion, our executive branch has never been more powerful than it is today. We live in a time of perpetual emergency in order to circumvent the switch breakers the framers installed. Is this what we want?This program is brought to you by DAT Freight & Analytics. Since 1978, DAT has helped truckers & brokers discover more available loads. Whether you're heading home or looking for your next adventure, DAT is building the most trusted marketplace in freight. New users of DAT can save 10% off for the first 12 months by following the link below. Built on the latest technology, DAT One gives you control over every aspect of moving freight, so that you can run your business with speed & efficiency.This program is also brought to you by our newest sponsor, GenLogs. GenLogs is setting a new standard of care for freight intelligence. Book your demo for GenLogs today at www.genlogs.io today!