Gina Smialek

But I think that there are other tools that Trump has at his disposal that he could reach for maybe a little bit more readily that he's used before and which are really legally solid. And those are the ones that people are really worried about.

But I think that there are other tools that Trump has at his disposal that he could reach for maybe a little bit more readily that he's used before and which are really legally solid. And those are the ones that people are really worried about.

So there are two provisions in trade law that allow you to slap tariffs on trading partners after investigations. One is a national security investigation, and it allows you to apply tariffs to specific sectors. The other is an investigation into unfair trading practices, and it allows you to apply tariffs to a specific sector. trading partner, so an individual country, but across the board.

So there are two provisions in trade law that allow you to slap tariffs on trading partners after investigations. One is a national security investigation, and it allows you to apply tariffs to specific sectors. The other is an investigation into unfair trading practices, and it allows you to apply tariffs to a specific sector. trading partner, so an individual country, but across the board.

These are the provisions they're currently using to hit steel and aluminum and to hit cars. And so this isn't a totally novel idea, which would put tariffs on slightly stronger legal footing.

These are the provisions they're currently using to hit steel and aluminum and to hit cars. And so this isn't a totally novel idea, which would put tariffs on slightly stronger legal footing.

So the 1977 law gives you a lot more unilateral, immediate authority. It allows you to just kind of throw out a number and threaten another country with it. Whereas these investigations take time. You know, they take weeks, maybe months to complete. But what we've seen so far is that the Trump administration has really used a combination of the two.

So the 1977 law gives you a lot more unilateral, immediate authority. It allows you to just kind of throw out a number and threaten another country with it. Whereas these investigations take time. You know, they take weeks, maybe months to complete. But what we've seen so far is that the Trump administration has really used a combination of the two.

And so they have a bunch of investigations, open, pending, not completed, that would potentially allow them to hit additional sectors with tariffs. And so it's entirely possible that we see more of these sector-specific tariffs and fewer across-the-board tariffs. And those could still be very painful for America's trading partners.

And so they have a bunch of investigations, open, pending, not completed, that would potentially allow them to hit additional sectors with tariffs. And so it's entirely possible that we see more of these sector-specific tariffs and fewer across-the-board tariffs. And those could still be very painful for America's trading partners.

Yeah, you know, this comes at this really crucial moment for the Trump administration because they had been trying to make 90 deals in 90 days and they are well short of that target. And so I think this is sort of entering the ferment at this moment where we're in this really intense period of negotiation and there's a lot of pressure on the Trump administration.

Yeah, you know, this comes at this really crucial moment for the Trump administration because they had been trying to make 90 deals in 90 days and they are well short of that target. And so I think this is sort of entering the ferment at this moment where we're in this really intense period of negotiation and there's a lot of pressure on the Trump administration.

But I don't think it's a foregone conclusion that things are going to get worse from here. You know, I think we saw stocks rise on this decision because at least people in financial markets think that this could potentially de-escalate the trade war.

But I don't think it's a foregone conclusion that things are going to get worse from here. You know, I think we saw stocks rise on this decision because at least people in financial markets think that this could potentially de-escalate the trade war.

But I definitely heard some people voice the concern today that the Trump administration is going to feel like they need to reassert their bargaining position and that that feeling of being backed into a corner could force them to take more drastic action or could force them to speed up some of these sector-specific tariffs.

But I definitely heard some people voice the concern today that the Trump administration is going to feel like they need to reassert their bargaining position and that that feeling of being backed into a corner could force them to take more drastic action or could force them to speed up some of these sector-specific tariffs.

in a way that would really hurt trading partners or in a way that would really hurt companies in some specific countries. And so I think there is this concern that you could end up with a deepening of the trade war out of this.

in a way that would really hurt trading partners or in a way that would really hurt companies in some specific countries. And so I think there is this concern that you could end up with a deepening of the trade war out of this.

I think that's right. And I think actually a good example of what that might look like takes place here in the European Union. So where I'm sitting, the EU has been facing a pretty hefty tariff threat from the U.S. President Trump said last week that he was going to slap 50 percent tariffs on the EU to essentially force it to come to the negotiating table.

I think that's right. And I think actually a good example of what that might look like takes place here in the European Union. So where I'm sitting, the EU has been facing a pretty hefty tariff threat from the U.S. President Trump said last week that he was going to slap 50 percent tariffs on the EU to essentially force it to come to the negotiating table.