Cheap Imports Once Duty-Free, Will Now Be Hit With Steep Tariffs

Cheap goods brought in from around the world, which previously enjoyed tariff exemption, will now be subject to steep tariffs. Starting Aug. 29, imports under $800 will face extra fees as the loophole comes to an end. NBC business correspondent Brian Cheung joins TODAY to break down the latest on the trade war and what it means for American consumers.