Tyler Pager

Natalie, they're not really seeming to think about it all that much at all.

We saw Treasury Secretary Scott Peskin say he didn't think that the American people would see this money.

And the president at his news conference on Friday

basically ignored questions about refunds.

And so even as reporters repeatedly tried to press him, he has very much quickly moved on and has started talking about new tariffs that he wants to institute.

And there doesn't seem to be a whole lot of consideration about what this process may look like should companies start requesting them.

And Natalie, I think we're going to get a lot more on this front because the president is expected to travel to Beijing at the end of March, early April, and meet with Xi Jinping.

So we should expect there to be a lot more conversation about what the U.S.-China relationship looks like, particularly as it pertains to trade in the weeks ahead.

Yeah, it's enormous.

I mean, it was the centerpiece, arguably, of his foreign policy.

He used it often for economic reasons, but he also tried to use it to cut peace deals.

We know that the president is very determined to win the Nobel Peace Prize.

He repeatedly brags about how many conflicts he's solved overseas.

And at the core of some of those strategies was threatening tariffs on countries if they didn't, in his words, lay down their arms and stop fighting.

And so it dramatically changes his negotiating position on the world stage because he's unable to, as Anna very clearly laid out,

apply different tariff rates to different countries at a whim.

And I think it left a lot of foreign leaders uncertain about what move they made and whether or not they could be punished by the president for whatever they might do.

That uncertainty has been diminished in some ways because the president can't just unilaterally apply different tariffs to different countries on any given day.

This is new for President Trump.

Congress, controlled by Republicans, has largely gone along with everything he's wanted to do.