What is the International Emergency Economic Powers Act (IEEPA)?

On August 23rd, 2019, United States (U.S.) President Donald Trump tweeted, “Our great American companies are hereby ordered to immediately start looking for an alternative to China, including bring your companies HOME and making your products in the USA.”[1] President Trump’s basis for this unofficial order was that the U.S., “has lost, stupidly, Trillions of Dollars with China over many years” and China has “stolen” “Intellectual Property at a rate of Hundreds of Billions of Dollars a year.”[2]