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Austan Goolsbee: President Trump’s steel tariff increase targeted at China has a big flaw, China isn’t in the top ten of steel exporters to the US

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Gautier Steel mill facilities are seen, September 8, 2016, in Johnstown, Pennsylvania. The 100-employee company uses excess metal billets to reshape for new uses. ( DOMINICK REUTER/AFP/Getty Images)

Economics professor at the University of Chicago Booth School and former economic adviser to President Obama, Austan Goolsbee joins Roe Conn and Anna Davlantes to break down how President Trump’s announcement that he is raising tariffs on imported steel/aluminum will impact world markets. Austan warns that this could spark a trade war which would lead to a recession.

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