host: at our table this morning, christine mcdaniel, a former white house senior trade economist during the george bush administration and now a senior fellow at the george mason university mercatus center. we are talking about trade policy with china. what is a at our table this morning, christine mcdaniels, a former white house senior trade economist during the george w. bush administration and now senior fellow, research fellow, at the george mason university center. thanks for being here. talking about trade policy with china. what is a terrorist -- tariff. >> it is a tax on imported products. let's say you import this pen, it is one dollar, and let's say the government puts a 10% tariff on it, you pay $1.10. >> why do countries like the united states have tariffs? >> a long time ago countries used to have tariffs because it was a good revenue raiser. but over time, countries got better at having income taxes, personal income tax, corporate income tax, they got better at collecting taxes. and now, tariffs are really a demand in this part of the revenue stream. >> compare tariffs put