Tariffs on Chinese Goods

President Trump on Monday announced $200 billion in tariffs and Chinese goods coming into the U.S. Then, China on Tuesday said it would retaliate with $60 billion in tariffs on U.S. exports. That led President Trump to say he would respond to that with $240 billion in fresh tariffs. Dennis Hoffman, director of the L. William Seidman Research Institute at the W. P. Carey School of Business at Arizona State University, talks about the impact on the economy with these new tariffs.