How the global market is responding to U.S. and China tariffs

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China is hiking tariffs on $60 billion-worth of U.S. goods, starting June 1st. The tariffs will apply to more than 5,000 products and be as high as 25%. CNBC’s Bill Griffeth and former Ambassador to China during the Obama administration, Gary Locke, join Ali Velshi to discuss how the global market is responding to the U.S. trade war with China.