Donald Trump is considering a two-step approach to his new tariff regime, deploying rarely used powers to impose emergency duties while probes into trading partners are completed. The proposals the administration’s officials are debating would seek to ground the president’s “reciprocal” tariff regime in a more robust legal framework while enabling Trump to raise money for planned tax cuts,

President Trump has vowed tariffs on Mexico and Canada, but the U.S. has a trade deal with its North American neighbors, one that Trump crafted in his first term. So what's the point of the deal now?