What to expect as new tariffs take effect this week

Long-teased tariffs are set to go into effect this week. On Wednesday, President Donald Trump says reciprocal tariffs are on the table for all countries. And on Thursday, 25 percent tariffs on foreign-made cars and auto parts are set to take effect. The White House says the tariffs will raise hundreds of billions of dollars and prompt more companies to produce their goods domestically. But many economists say consumers will pay the price. Here’s what to expect.