What Is IEEPA Law?

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The International Emergency Economic Powers Act (IEEPA) is a U.S. federal law enacted in 1977 that grants the president broad authority to regulate international commerce during a declared national emergency. It allows the president to respond to any unusual and extraordinary threat originating substantially from outside the United States that affects national security, foreign policy, or the economy.

Presidential Powers under IEEPA include the ability to block financial transactions, freeze or seize foreign assets, and impose economic sanctions. However, the law does not explicitly authorize the imposition of tariffs, and a Supreme Court ruling in February 2026 clarified that IEEPA does not give the president the power to impose tariffs, limiting its scope.

Congress enacted IEEPA to replace and restrict the broader emergency powers previously granted under the Trading with the Enemy Act of 1917. It operates under the National Emergencies Act, requiring the president to formally declare a national emergency and report to Congress every six months. The emergency must be renewed annually to remain in effect.

Notable Uses:

• Jimmy Carter first used IEEPA in 1979 during the Iran hostage crisis to freeze Iranian assets.
• Donald Trump invoked it multiple times, including in 2025 to justify sweeping tariffs, which led to legal challenges and the eventual Supreme Court ruling.
• George W. Bush used it after 9/11 to block assets of terrorist organizations under Executive Order 13224.

The law includes exemptions for informational materials (like news, books, and broadcasts) and donations for humanitarian aid, protecting First Amendment rights and relief efforts.

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Monday, February 23, 2026 07:57AM

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Also see: 89E FEBRUARY 23, 2026