In retrospect, we should have seen these steel and aluminum tariffs coming. Treasury Secretary Steven Mnuchin mentioned “reciprocal free trade,” in our interview earlier this week, and President Donald Trump said something similar today. Tariffs are a complicated macro-economic topic anytime, especially when they’re a surprise. We’ll start the show by catching you up, then look at how our allies might or might not respond. Tariffs go both ways, you know. Plus: How many cup holders is too many?

Treasury Secretary Steve Mnuchin faced a boisterous crowd while in conversation with Kai on stage at the Burkle Center for International Relations at UCLA last night. We’re bringing you that chat in two parts on today’s show, and we cover a lot of ground: Russian sanctions, trade deals, Dodd-Frank and more. Plus: Student real estate is hot right now: investment nearly tripled from 2014 to 2016 and it’s still going strong. We’ll take a closer look. Plus: Whether you call it “chain migration” or “family reunification,” the argument for reducing it goes like this: A single legal immigrant can quickly and easily bring in a nearly unlimited number of relatives, who then create a drain on the economy. But there’s very little that’s quick and easy about it.

Organized labor was on the docket at the Supreme Court of the United States today in a case called Janus v. AFSCME, the Association of Federal, State, County and Municipal Employees. It’s one of the biggest public employees union in the country, and at issue is whether public-sector unions can charge what are called “fair-share fees” to workers who aren’t dues-paying members of the union. We’ll start today’s show by getting you caught up, because this case has implications far beyond the workplace. Then: What happens if the Trump administration keeps pulling the country back from global engagements? We’ll look at the world economy, post-America. Plus, a little pizza party.

The National Rifle Association is losing business ties in the wake of the school shooting in Parkland, Florida, last week. SimpliSafe, Met Life, Enterprise and a handful of other companies have said they’re done with the group. It’s a powerful brand, and companies tend to want to align themselves with a such a big group of passionate potential customers. But in the wake of a tragedy, the calculation looks a little different. That’s where we’re starting today. Then: A new investigation from Politico says before raising the minimum wage, we’d do well to make sure current wage laws are being enforced. Plus, as always, we’ll talk about the week in business news on the Weekly Wrap.

Here we are, 10 years after the American financial system imploded, and something amazing has happened. President Donald Trump came into office saying he would “do a big number” on the “disaster” that was Dodd-Frank, but now his administration is keeping key parts of the legislation, like the rule letting the government liquidate a failing financial firm in a crisis. And you know what? Banks seem OK with that. We’ll explain. Then: We spent some time last year talking about how the president can affect stock prices with a tweet, but he’s not the only one. Snap shares dropped 6 percent today after Kylie Jenner said she hardly uses Snapchat anymore. What’s that say about the company’s business model? Plus, the economics of TV’s reboot frenzy.