Stocks wavered Wednesday, on the heels of uninspiring economic reports and some ominous words from the president-elect. The S&P 500 was down about 0.2% shortly after the opening bell. The Dow Jones Industrial Average was down 0.

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

Donald Trump is reportedly considering declaring a national economic emergency to impose tariffs across several industries, according to CNN. Multiple sources suggest that this move would allow the president-elect to implement tariffs on both allies and adversaries using the Economic Emergency Powers Act.

CNN reported on Wednesday, citing sources familiar with the matter, that the president-elect of the USA, Donald Trump, is considering declaring a state of emergency in the national economy to provide legal justification for implementing a series of widespread tariffs.