Trump has put US companies on alert that he might force them to withdraw from China, where they have $256 billion invested. He says he is given this power by the 1977 law called the International Emergency Economic Powers Act, or IEEPA.
The Republican Party has spent over a century warning against government involvement in the private sector, but now their leader is doing it big time. Trump ordering companies around about where they can invest is a form of fascism or rightwing national socialism. Left socialism is about public sector economic activity for the good of people. National socialism is the state usurping economic resources on behalf of a small corporate and high-official elite.
The US Congress has given up many of its constitutional prerogatives over the years to the imperial presidency, something connived at by major party leaders such as Dick Cheney and Donald Rumsfeld. Trump should not have the ability to set tariffs on foreign countries by tweet. The regulation of interstate commerce is a congressional prerogative.