Tariffs, what do they really mean?
The Dow tumbled more than 470 points yesterday amid a broad sell-off on Wall Street as the US and China moved closer to an escalation of their trade war. The US is set to impose higher tariffs on China this Friday, a day after representatives from both nations are scheduled to resume talks in Washington. Trump administration officials accuse China of reneging on commitments made during weeks of negotiations. CBS News Senior Business Analyst joins Tony with a look at what's in play.