President Trump's tariff turmoil has caused market whiplash this week as China has raised their own tariffs on the U.S. NBC News' Christine Romans explains more. Executive director and co-founder at the Yale Budget Lab Martha Gimbel breaks down how the trade war will impact the price of everyday goods.

President Donald Trump has begun enacting -- and pausing -- tariffs on America's trade partners. Since he took office Jan. 20, Americans have witnessed 20 tariff events, and nations such as China

China announced Friday that it will raise tariffs on U.S. goods from 84% to 125% — the latest salvo in an escalating trade war between the world’s two largest economies that has rattled markets and raised fears of a global slowdown.