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Particularly hard. goods like iphones and other consumer electronics will be taxed. it will affect sneakers and toys. these are categories that have been protected earlier. as he had said many times before, trump falsely claimed this. >> we're taking in many billions of dollars. there's been absolutely no inflation and, frankly, it hasn't cost our consumer anything. it costs china. >> business groups and the u.s. chamber of commerce coming out against the new tariffs. they say they will only hurt consumers and they will undermine the u.s. economy. new this morning, the reaction from china. chi...

Consumer electronics will be taxed. it will affect speakers and toys. as he has many times before, trump falsely claimed this. >> we're taking in many billions of dollars. there's been absolutely no inflation and frankly it hasn't cost our consumer anything. it costs china. >> business groups coming out against the new tariffs saying they will only hurt tariffs and ultimately undermine the economy. china's foreign minister said they will take counter measure. investors were not happy at all about the tariff news. the dow had been up. it had a nice rebound and closed down 281 points. retail tec...

Hasn't cost our consumer anything. it costs china. >> fact check, the money comes from consumers. the bill from customs and border protection goes to the american importers. business groups and the u.s. chamber of commerce coming out against the new tariffs, of course. they say it will only hurt consumers and undermine the economy. china's foreign minister said china will take counter measures if the u.s. is bent on putting tariffs on any of these. it closed down 281 points. retail tech and industrial stocks fell. crude oil took a dive indicative of how the trade war will hurt global growth. a...

Goods like iphones, consumer electronics will be taxed. it will affect sneakers and toys as he has many times before, trump falsely claimed this. >> we're taking in many billions of dollars. there's been absolutely no inflation and, frankly, it hasn't cost our consumer anything. it costs china. >> just not true. business groups and the u.s. chamber of commerce coming out against tariffs saying they will only hur consumers and ultimately undermine the economy. china's foreign minister said china will take counter measures. investors not happy at all. the dow had a 600 point swing from up 300 do...

Of dollars. there's been absolutely no inflation, and frankly, it hasn't cost our consumer anything. it cost china. >> you study this closer than most. does his claim get any more true the longer he repeats it? >> i would say it's kind of the opposite. the previous rounds of tariffs have been on what are called intermediate goods, things that businesses buy and use. expanding this round of tariffs on china, that is capturing more consumer goods, so things like furniture and consumer goods you might buy at the store. so that's going to show up in either higher prices for those goods or companie...