The impact of tariffs is just starting to be felt, just as more are on the way.

The markets just closed out their worst quarter in two and a half years, and some businesses are warning how tariffs could hurt sales and their bottom lines.

This week, President Trump plans to announce a new set of tariffs on major U.S. trading partners.

That would be in retaliation for tariffs other trade barriers imposed on U.S. trading partners, that would be in retaliation for tariffs other

trade barriers imposed on U.S. exports. But one of the biggest questions about the president's

approach is whether they can help revitalize American manufacturing. Economics correspondent

Paul Salman breaks that down. This is the beginning of Liberation Day in America.

So President Trump proclaimed in the Oval Office last week when adding 25 percent tariffs

on U.S. auto imports.

And on Wednesday, it's promised there will be more still.

We're going to charge countries for doing business in our country and taking our jobs,

taking our wealth, taking a lot of things that they've been taken over the years.

They've taken so much out of our country, friend and foe.

And frankly, friend has been oftentimes much worse than foe.

And thus, as Mark DePlasido, a policy advisor at pro-Trump think tank American compass.

We need a transformational change in our economy. And I think the administration is pursuing that.

Part of that change, creating supply chains in America for Americans.

We shouldn't have supply chains. We should have them all in the United Americans. We shouldn't have supply chains.

We should have them all in the United States.

We have the companies to do it.

But the main theme is tariffs.

The president and his team have cited very different reasons for imposing them.

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