The administration is positioning its next authority to use tariffs because the existing one expires in about six weeks. These 301 investigations are trickling out, with another on industrial overcapacity coming, mainly targeting China. The tariff compliance regime will get much more complicated.

Rather than President Trump tweeting a specific tariff threat, they're going through a longer process of investigations. There are other 232 investigations into steel and autos layered on top.

It has to do with the authorities available. President Trump tried an authority the Supreme Court struck down. Now they're following the letter of the law with thorough investigations, a public comment period, and negotiations. The 10% and 12.5% two-tier structure is still subject to negotiation.

They're trying to replace the old tariff wall with a new one using different authorities.