From TODAY.

President Donald Trump’s sweeping new tariffs on nearly 90 countries, including almost all major U.S. trading partners, went into effect on Wednesday with a 104% tariff on all Chinese products. Despite rattled markets, fears of a recession and backlash from his own allies and fellow Republicans, Trump is insisting he has things under control. "I know what the hell I’m doing," he said. NBC’s Peter Alexander reports for TODAY.

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