What did the Emergency Economic Powers Act of 1977 primarily regulate?

The Emergency Economic Powers Act of 1977 primarily regulated foreign currency transactions. This act gave the President the authority to regulate international economic and trade transactions in response to emergencies that threaten national security or foreign policy interests. It enables the U.S. government to impose economic sanctions and controls on transactions involving foreign entities. By focusing on foreign currency transactions, the Act allows for the management of imports and exports and the control of assets linked to foreign countries, particularly those considered hostile or in conflict with U.S. interests. This regulatory framework empowers the President to respond swiftly to international crises by limiting or controlling economic interactions with specific nations.