President-elect Trump has said he wants to slap aggressive tariffs on all sorts of U.S. imports as soon as Day 1 of his administration. But taking shock-and-awe action would come with meaningful economic, political and legal risks.

Why it matters: Trump will have to decide whether to turn to the tried-and-true tools to implement tariffs he used when he was last in office — which are powerful, but take time and care to enact — or rip up the playbook.

What to watch: Speedier tariffs could also mean speedier retaliation from major allies that might take a huge toll on domestic producers

Flashback: Trump 1.0 relied on legal authorities that required months-long investigations and comment periods before the administration could impose double-digit tariffs on imports from China and elsewhere.