For all of the Fake News Reporters that don’t have a clue as to what the law is relative to Presidential powers, China, etc., try looking at the Emergency Economic Powers Act of 1977. Case closed!

https://twitter.com/realDonaldTrump/status/1165111122510237696

The International Emergency Economic Powers Act(IEEPA), Title II of Pub.L. 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole or substantial part outside the United States.[1]

In the United States Code, the IEEPA is Title 50, §§1701–1707.[3] The IEEPA authorizes the president to declare the existence of an "unusual and extraordinary threat... to the national security, foreign policy, or economy of the United States" that originates "in whole or substantial part outside the United States."[4] It further authorizes the president, after such a declaration, to block transactions and freeze assets to deal with the threat.[5] In the event of an actual attack on the United States, the president can also confiscate property connected with a country, group, or person that aided in the attack.[6]

The IEEPA falls under the provisions of the National Emergencies Act (NEA), which means that an emergency declared under the act must be renewed annually to remain in effect.