Brendan Murray

that the complexity has gotten too much for these companies to handle.

If you recall, the president put 25% tariff on steel and aluminum in March of last year.

Then he raised it to 50% in June of last year.

And then he added about 400 products that have steel and aluminum in them.

in August.

So that captured a lot of imports and created some collateral damage from companies that use steel and aluminum.

The administration rolled out a lot of tariffs last year, steel and aluminum included, in a sort of rushed and chaotic way.

And it feels like what we're hearing now is they're kind of course correcting and trying to narrow things down.

And obviously they're hearing a lot of complaints from consumers and members of Congress that the tariffs have become overly burdensome and they're trying to scale it back.

Well, what we know is the Trump administration has acknowledged that the steel and aluminum tariffs that they rolled out in waves last year are overly complicated for a lot of companies and have really created a lot of unintended consequences.

victims that have to pay these tariffs.

They rolled out the first 25% tariff in March of 2025.

Then they raised it to 50% in June.

And then in August, they extended the scope of the tariffs to include a whole host of maybe hundreds of goods that contain steel and aluminum.

European leaders met here in Brussels late into the evening last night and the message that we got from them when they came out looking very tired after a very hectic week was that they can no longer trust the U.S.

the way they used to trust the U.S.

The transatlantic relationship is going to undergo a rethink and the Europeans are talking a lot more than they have in the past about strategic autonomy,

It feels like both sides, after a really whiplash sort of week,

are walking away feeling like they both came away with a win.

You have President Trump going back to Washington saying, they're going to give me everything I want on Greenland, although a lot of those details still need to be worked out about sovereignty and territorial integrity.