Fareed discusses the global effects of the Trump administration’s bold trade policy with Zanny Minton Beddoes, editor-in-chief of The Economist, and Oren Cass, founder and chief economist of the conservative think tank American Compass.

American businesses and consumers are already feeling the squeeze from President Donald Trump’s trade war, more tariffs are expected later this week.

Trump on Thursday signed an executive order that set new tariffs on a wide swath of U.S. trading partners to go into effect on Aug. 7. The order drew worries from Wall Street Friday as stocks slumped and Treasury yields fell sharply.