joining us now, nbc news senior white house correspondent gabe gutierrez, our business correspondent brian chung, and justin wolfers, professor of economics and public policy at the university of michigan. brian, we're already seeing the markets responding here. we're also, of course, waiting to see what this means for everyday americans on the cost of goods. what kind of reaction can we expect? >> yeah. well, wall street having. >> a negative reaction to the tariffs. again, this is the first market day since the tariffs were announced over the weekend. but we're seeing the dow down over 1%. the nasdaq. those tech heavy stocks are down 2%. but look there are main street implications to all of this for regular regular americans that have to pay for things that have already been expensive over the last four years. those costs could rise further under these proposed tariffs. when you just talk about gasoline, for example. again, that 10% tariff specifically on canadian energy, likely to lead to increases of between 15 to $0.25 per gallon at the pump. and also, when it comes to cars, this is a big o

now for more on this, we want to bring in nbc news business correspondent brian chung. brian, first of all, there seems to be some confusion, even with officials in these countries that i'm speaking with, if the tariffs are actually currently in effect when they're going into effect and what products could be impacted. >> yeah. christina, this stemming. >> from yesterday's. >> commentary from. >> the president's press secretary. >> caroline leavitt, in addition to the president himself in the oval office, saying that there will be tariffs announced today and they will take effect today. but the challenge is that here we are at 1 p.m. eastern time, and we still haven't heard anything from the white house or seen any sort of documentation that would actually make these official. but look, here's what here's the talking points in terms of what they say they're going to do 25% tariffs on mexico and canada in addition to a 10% tariff on china, which, by the way, could get ratcheted up as high as 60% as was promised on the campaign trail. this would impact, and i can't undersc

joining us now is nbc news business correspondent brian chung. brian, can we expect to see more retaliatory tariffs in response to trump's measures from different countries that he's threatened with these kinds of actions? >> yeah, it sounds like the reporting from the canadian press does seem to seem to suggest, rather, that there will be some sort of retaliatory action from canada, our neighbors to the north. but i want to point out, we haven't even really gotten the official word that the tariffs are in effect yet. we haven't heard anything from the white house, at least at least from the press vantage point in terms of whether or not those tariffs have actually happened today, what those tariffs actually look like. all of this coming after the explicit announcement from the press secretary, caroline leavitt, as well as president trump himself from the oval office yesterday, saying that they would take effect at some point today on this saturday. but again, it's a bit of a schrodinger's tariff situation right now. we haven't had the official re

. >> business and data correspondent brian chung, cnbc. >> global supply chain. >> reporter lori. >> ann larocco. >> a favorite. >> around here. and council. >> on foreign relations senior vice president. >> shannon o'neill. >> all right, everybody. kelly, i'm. >> going to begin with you. >> can you help. >> make sense of the explanations here? because because there have been so many about what these. >> tariffs are supposed. >> to accomplish. >> well. >> the. >> confusion. >> if any of us. >> and our. >> viewers are. >> experiencing it is warranted. >> because there. >> have in fact. >> been many different. >> data points. >> many. >> different comments made that are. >> not all coming together. >> to make. >> this. easily understandable. the president, we know. >> has a. >> long time. >> support for the idea. >> of using tariffs. he has employed them before. >> and he is doing so now. and it. >> is in. >> rendering the. >> kind of response. from mexico and canada are two closest neighbors and allies. to have a flurry of activity to. >> try. >> to get at the heart of this. what is.