NBC News National Political Correspondent Steve Kornacki joins Meet the Press to examine how the U.S. economy is responding to President Donald Trump’s trade policies. Commerce Sec. Howard Lutnick defends the president as he delays steep tariffs on America’s largest partners.

The stock market dropped sharply in recent days as investors worried about the effects of President Donald Trump's new tariffs on Canada and Mexico.

The decision comes after Commerce Secretary Howard Lutnick said that tariffs on both Mexico and Canada would "likely" be delayed.

U.S. Commerce Secretary Howard Lutnick anticipated the possibility that President Donald Trump will announce a reduction of tariffs on Canada and Mexico

Washington – President Donald Trump launched a trade war Tuesday against America’s three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business.

President Donald Trump will enforce tariffs on Tuesday against Canada and Mexico, but at what percentage, he has yet to decide, according to Commerce Secretary Howard Lutnick.