CNBC: Trump on US-China trade war: ‘I could declare a national emergency’
* President Donald Trump said Sunday he could declare the escalating U.S.-China trade war as a national emergency if he wanted to.
* “In many ways this is an emergency,” Trump said of the ongoing trade battle between the world’s top two economies.
* Clouding the G-7 gathering, which represents the world’s major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.
SAINT-JEAN-DE-LUZ, France — President Donald Trump said Sunday he could declare the escalating U.S.-China trade war as a national emergency if he wanted to.
“In many ways this is an emergency,” Trump said at the G-7 leaders meeting of the ongoing trade battle between the world’s top two economies.
“I could declare a national emergency, I think when they steal and take out and intellectual property theft anywhere from $300 billion to $500 billion a year and when we have a total lost of almost a trillion dollars a year for many years,” Trump said, adding that he had no plan right now to call for a national emergency.
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Update: Trump Says 'Has No Plan' to Declare Emergency Over China But Has 'Right' to Do it - Reports (Sputnik)
WNU Editor: The U.S. Presidency has a lot of power when it comes to disputes like the current trade war. And yes .... President Trump can declare a national emergency. Here is a list of national emergencies that past US Presidents have imposed .... List of national emergencies in the United States (Wikipedia).
Update #2: DUH!!!! .... China Preparing for Worsening U.S. Ties, Global Times' Hu Says (Bloomberg).
Update #3: Monday is not going to be a good day for the markets .... Market In Turmoil: Gold Spikes, Yuan Crashes, Stocks Plunge As Asia Opens (Zero Hedge).
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