Trump bulked up tariffs on foreign steel and aluminum after taking office for a second time, restoring the 25% levy that had been weakened by numerous country exclusions and quotas and thousands of product-specific exclusions.

President Trump is criticizing Fed Chair Jerome Powell once again and raising steel tariffs up 50%. NBC News Correspondents Kelly O'Donnell and Christine Romans report more. Professor of Economics and Public Policy at the University of Michigan Justin Wolfers joins Ana Cabrera to share his expertise on the impact of tariffs.