The high risk, high reward proposition. If it works, I would expect this to mark a new era in U.S. foreign policy, one in which a broader set of economic tools are on the table.

Kenyanne has short joined us now for more.

Kelly, I'm welcome to the program. I just want to go back to the first term because I think we all familiarized ourselves with Section 232, National Security, 301, unfair trade practices.

This was new over the weekend.

They used the International Emergency Economic Powers Act.

Kelly, what do people need to know about the use of that tool and whether it might be challenged?

Yeah, thank you so much for having me back on this morning.

It's certainly an interesting Monday for any company who's operating in the United

States, Canada, Mexico, and China, or have supply chains in any one of those economies.

So, Aieba, right, this is the first time that a president has invoked tariffs on the basis

of a national emergency. And AEPA is a national security authority.

It is different than 232 or Section 301,

which supported the steel and aluminum tariffs

and the China tariffs.

Those had an investigation that made findings

about the threat of imports or discrimination

or unfair trade practices.

This is about a pure emergency and national security issue,

which the president has identified as fentanyl and illegal immigration.

So, Kelly, when the national security threat is resolved, what happens next? Do the tariffs get lifted?

Well, presumably. And if you look at the three executive orders that the president issued on Saturday,

the legal basis for expanding the national emergency is the illicit flow of fentanyl and migration.

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