EL SEGUNDO, Calif. — The Trump administration is doubling down on tariffs as stock markets around the world plunge — including in the U.S.

The Dow was down 1,200 points at opening bell Monday. Markets in Japan, South Korea, Taiwan, Australia and New Zealand reported early losses on Monday as well.

A universal 10% tariff on all imports is now in effect. President Donald Trump says he only wants to make deals with countries that close trade deficits with the U.S.

Claudio Robertson, executive director at J.P. Morgan's private bank, joins “Your Morning” to discuss the current state of the economy.