This week, we're taking a close look at the state of the gun industry and the potential impact of President Donald Trump's tariffs.

That's why I'm interviewing the head of the gun industry's trade group. National Shooting Sports Foundation (NSSF) general counsel Larry Keane is back on the show to detail where the industry is at today and where it's headed. Perhaps the biggest question to answer is what tariffs will do to domestic and foreign firearms companies.

Keane said tariffs, even the reduced levels of the latest "pause," are likely to drive up costs for gun and ammo makers. He said importers are likely to be hit the hardest, but domestic manufacturers aren't immune from increased raw material costs either. He said NSSF is waiting to see exactly how things shake out and it expects some of its members will face steep challenges from the tariffs while others may end up benefiting from them.

He also said he's hopeful the tariffs are just a negotiating tactic on the part of President Trump and believes they could lead to something positive for the industry. Keane noted NSSF's latest report shows strong long-term growth among gun businesses. Although, he did admit sales have been down recently and demand could remain relatively soft in the short term.

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Special Guest: Larry Keane.