Tariffs are a 'centerpiece' of Trump's agenda: Fmr. Trump official

President Donald Trump has proposed 25% tariffs on all aluminum and steel imports into the United States, expanding his sweeping trade strategy that includes 25% tariffs on Canada and Mexico — which have been delayed by one month — and 10% on Chinese imports. Trump's stance through these metal import taxes would still greatly impact both Canada and Mexico. Nazak Nikakhtar, Chair of the National Security Practice at Wiley Rein LLP, joins the Morning Brief to discuss Trump's trade approach. The former US Department of Commerce Assistant Secretary for Industry and Analysis — in the first Trump administration — notes that during Trump's campaign, the president promised a wide-ranging tariff strategy and is "making good" on that promise. She explains that during his first term, part of his tariff strategy stemmed from overcapacity, and still, in his second term, "overcapacity hasn't gone away." Regarding the potential impact on American consumers, Nikakhtar references a former US International Trade Commission (ITC) study that found the inflationary effect of President Trump's tariffs was "infinitesimal [extremely small] if anything at all." "This is a core centerpiece of his trade agenda," Nikakhtar, who also served as the Under Secretary for Industry and Security at Commerce’s Bureau of Industry and Security (BIS) under Trump, tells Yahoo Finance. "The notion of non-reciprocal trade is a huge irritant to him. It's not always about tariffs — it's about non-market barriers." To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Angel Smith