'Chaotic tariff regime': Economist says Americans will feel the costs but not benefits

President Trump's efforts to remake the global economy entered a new phase today as US import taxes, otherwise known as tariffs, reached their highest level since the Great Depression. Joining us now, NBC News senior business correspondent Christine Romans and University of Michigan professor of economics and public policy Justin Wolfers. Welcome back from vacation, Justin.Uh Christine, how are the markets reacting to this. Well, you've got stocks down a little bit today, but really it's been a resilient re ...