Earlier this month, Trump threatened Mattel with a 100% tariff on all its toy imports after Mattel CEO Ynon Kreiz said the company would have to consider raising some toy prices due to tariffs and that it wouldn’t shift toy production to the United States, as that would be more expensive than paying the tariffs.

President Trump's 50% tariffs on steel and aluminum tariffs have gone into effect. NBC News Senior Business Correspondent Christine Romans reports more. Council on Foreign Relations President Michael Froman and former Chief Strategist for the Bush-Cheney 2004 campaign Matthew Dowd join Katy Tur to break down the economic impact.