President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a large swathe of universal tariffs on allies and adversaries, four sources familiar with the matter told CNN,

U.S. President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday,

President-elect has threatened nations including Canada, Mexico and China with steep duties on their products even before taking office

President-elect Donald Trump could use the International Economic Emergency Powers Act, a threat he has made before.

Canada's main index fell on Wednesday, with investors taking stock of a report that said U.S. President-elect Donald Trump was considering declaring a national economic emergency to allow for new tariffs.