Mnuchin: Trade Dispute and Powers Act

mnuchin: He would have the authority to do that, according to The Japan Times. He has not done that, Mnuchin told Fox News Sunday. Treasury Secretary Steven Mnuchin and White House economics adviser Larry Kudlow took to the airwaves from France, where Trump is participating in the G7 summit, to smooth out tensions in the business community prompted by Trump's Friday tweet. ; Trump said he has no plan now to bring U.S. companies in line, and his aides quickly reinforced the message. Mnuchin said that authority comes from the somewhat obscure International Emergency Economic Powers Act IEEPA a federal law passed in 1977. But it has never been used to tip the scales in a trade dispute. The law grants the president powers to regulate international trade in the face of an unusual and extraordinary threat from abroad to U.S. foreign policy, national security or the economy. (news.financializer.com). As reported in the news.