International Emergency Economic Powers Act (IEEPA) (1977)

1) Link to the Text of the Act
Read the statute (50 U.S.C. §§ 1701–1707)

2) Why It Was Done
Congress passed IEEPA to give the President authority to regulate commerce and block assets during declared national emergencies originating outside the United States, especially threats involving foreign states or actors.

3) Pre-existing Law or Constitutional Rights
IEEPA replaced parts of the Trading with the Enemy Act (1917), which was considered too broad for peacetime use. The National Emergencies Act (1976) provided the framework within which IEEPA operates.