Former President Donald Trump has won the New Hampshire Republican primary by 55% against former South Carolina Governor Nikki Haley. Could this mean a Trump-Biden rematch in the 2024 Presidential elections?

Stifel Chief Washington Policy Strategist Brian Gardner joins Yahoo Finance Live to weigh in on what to expect in the coming months and which sectors could win big if Trump is re-elected. Speaking on global trade, Gardner expects that a Trump presidency "would go forward on expanding the [trade] tariffs.”

Gardner sees a clear path to Trump’s nomination by the GOP, stating “the party’s over" for Trump's competition ever since the start of the former president's fraud trials in 2023. Yahoo Finance Senior Columnist Rick Newman breaks down the factors surrounding Trump’s possible victory in the GOP primary and whether the former president stands a chance of reelection.

For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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Editor's note: This article was written by Eyek Ntekim

Video Transcript

- With former President Donald Trump winning the New Hampshire Primary Tuesday with nearly 55% of the vote, bringing the nation a step closer to a rematch between President Biden and former President Trump later this year. A second Trump presidential term could bring the US back to an era of protectionism. And if that were the case, domestic steel, aluminum, and lumber companies might win big.

For more on this, we turn to Brian Gardner, who is the Stifel Chief Washington Policy Strategist and Yahoo Finance's columnist, Rick Newman. Great to have you both, here with us today. Rick and Brian, as we're kind of continuing to evaluate this, one of the larger overhangs is the fact that even in international policy previously, we still haven't had some of those purchase agreements be followed through on.

Now whether that's because of the pandemic that ensued and the timing leading up to the election, all of these things. There is still a larger question of what would be the US's stance internationally here? And Brian, I'll go to you first on this.

BRIAN GARDNER: So if it is Donald Trump who wins the 2024 election, then I think the platform is pretty clear that they are going-- that a Trump administration would go forward on expanding the tariffs. And I think enforcement of the tariff mechanisms would become more of a focal point.

Whether it was because of the pandemic, whether the Biden administration was preoccupied with other matters, the followthrough on those agreements going back to the Trump 1.0 administration hasn't been robust. So I think you're going to see a much more aggressive followthrough on previous agreements and really stepping them up, not just vis a vis China, but across the rest of the world.