Gavin Bade

But we are seeing some places where they did get a toehold.

We also see some interest from Chinese companies in investing in some other sectors, whether that's copper mining and processing or looking at getting into the automotive sector more broadly.

And we've also seen President Trump at least verbally welcome that, right?

He said just last month when he was speaking to the Detroit Economic Club, he said, let China in, let them invest in factories, let them create jobs here.

Well, that is a double edged sword, so to speak.

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.

Always a pleasure, Alex.

Thank you.

The U.S.

and China are supposedly in a trade truce right now after a meeting last October between President Trump and Xi Jinping where they agreed to keep the trade war to a dull roar for the next few months in anticipation of a leaders' summit this spring.

One would assume if the Trump administration increases tariffs on China by 25%, that could put that summit at risk coming this spring.

The other question is about what legal authority would underpin this tariff threat.

Typically, when Trump has threatened tariffs like this before, he has used the emergency powers under a law called IEPA, the International Emergency Economic Powers Act.

The catch here is that the Supreme Court is about to rule whether Trump's use of IEPA is legal or not.

That could happen as soon as Wednesday.

So you could see him issuing or threatening these tariffs under IEPA and then the Supreme Court coming back literally a day later and saying you're not allowed to do that.

They're putting the offer out there to other nations to say, if you do a deal with us, we can carve out more of these tariffs as well.

Yeah, so this is a subtle but important shift in the Trump administration's reciprocal tariffs.

These are the ones that he unveiled on Liberation Day back in April, then paused, then there were a bunch of negotiations.

He put them back in place in early August, right?