President-elect Donald Trump is contemplating a declaration of a national economic emergency to implement a new tariff program. He aims to utilize the International Economic Emergency Powers Act (IEEPA) to impose universal tariffs on imports from both allies and adversaries. The proposal has generated discussions within his team, although no final decision has been made. The potential move caused fluctuations in Wall Street, with stock futures dropping and the U.S. dollar strengthening against other currencies. Trump has indicated intentions for significant tariffs, notably targeting Chinese, Canadian, and Mexican goods.