He probably does.
The debate is not over the power to do it, but the wisdom.
Take a look at the 58 instances this has happened before, and tell me if any seem like this one to you.
They generally have to do with sanctions to this point, which is a presidential power handed over by Congress in 1979.
Link: https://www.brennancenter.org/sites/default/files/analysis/NEA%20Declarations.pdf