Alongside his recent tariff proposals, President-elect Donald Trump is pledging to block Nippon Steel's (NPSCY, 5401.T) acquisition of US Steel (X). The Committee on Foreign Investment in the United States (CFIUS) could be employed to block the deal.

"On the trade relations front, it's a very big deal because we know that President-elect Trump has in the past put Section 232 tariffs on Japan, with specifically steel and aluminum (ALI=F). They have negotiated ways to get that off," Veda Partners Managing Partner and Director of Economic Policy Henrietta Treyz tells Seana Smith and Brad Smith.

"But the US needs Japan, particularly as we gear up to go really hard at China, that trade escalation is already expanding. China announced this morning that they're restricting some of their critical minerals exports back to the US."

Treyz weighs in on the forecasts for what Trump's tariff policies ultimately look alike, commenting on the consumer product categories that could be affected the most by these import taxes.

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This post was written by Luke Carberry Mogan.