Transcript for What to expect as US-China trade war begins
Now to the traar been the u.s.nd China, officinder way Thi morning afterredent trums tariffs on $34 billion worth O Chinese good went into effect at 12:01:.m. Our chief Bess correspondent Rebecca Jarvis here with more on how thisld impact the American consumer. Goodrning, rebecc Hey, Michael, good morning. This has gone from a war of words I the biggest trade battle U.S. Has been I si the great depron. Overnight we sla tariffs O $34 billion worth of chi goods. Chin immedly hit back with S own tariffs calling this the largest trade war in history. So where does that leaves now? U.S. Tariffs are on Chinese machinertors and other components. Thatld have serious conseque for U.S. Companies. Foame, carmakers, they use some of those Chinese parts. They'll be forced to pay for them and could ultimate pass that off to consumers some consumer electronic companies could also IMPD and clothing isn't O the L but the price of T machinery, that's going go up and that cou ultimately impact consumers as well and it shows just how interconnected our omy is wit the world economy, Michael. Everything id of woven together. Are American jobs at stake with this? They well could be and iue becomes how L this trba lasts and how de it escalates. E seen the escalations right now. It doe appearna or prtrump areacking down an president trump threatened to impose tariffs on addional $200 billion worth O Chinese goods. Means jobs in the future. Ind of feel like T is just getting started. The opening salvo. Allht, thank you, becca.cia.
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