Gavin Bade

There's still a lot of work to be done here and a lot of open questions as to how they will try to reconstitute this tariff regime.

I think what he was trying to tell international markets and governments abroad is that even if it's not under this law, you can be sure of one thing, and that's I'm going to have tariffs on you.

I think the most damaging thing for him and his team is just that they have now been shown a limit to their power.

Trump wanted to use these tariffs to exert his own personal authority over the entire global economy.

Now they have been pegged back.

They have been told that is not the case.

You are not all powerful in the global economy.

Actually, Congress didn't give you this authority.

Thanks, Alex.

What China hawks in Washington would say is if you let companies that come from a non-market economy like China, that is going to hollow out American manufacturing from within.

The vibe is very much kind of an old-style factory.

This Vitro plant dates back to the 1950s.

It's been around a long time.

So this is a plant that has really stood the test of time for decades.

It's got a union workforce there in this small town called Crestline, and it's really facing an uncertain future here.

Vitro, the Mexican company that owns it, they have closed down three other similar factories since 2019, largely because of competition from this Chinese company that instead of shipping all the glass across the water, they've just set up here

The Fuyao people would say, well, it's just efficiencies and economies of scale.

Their factory houses more than 10 times the workers that the vitro plant does.

They got 3,000 people down there in Moraine.

They took over a big closed General Motors factory and just installed all of the state-of-the-art glass manufacturing and cutting equipment, right?