President-elect Trump has proposed a suite of different tariffs on our trade partners, leaving many wondering whether they’ll come to fruition or if they’ll be used as leverage in negotiations.

Over the weekend, Trump even floated the idea of “100% tariffs” on the BRICS group of countries, which includes Brazil, Russia, India, China, and South Africa.

FOX Business correspondent Gerri Willis speaks with Capitalist Pig hedge fund founder and FBN contributor Jonathan Hoenig, who explains what tariffs are, how they’ve impacted the U.S. economy and consumers historically, and why he believes we are entering “the great unknown” on trade policy.

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Business Rundown: Tariffs & What They Mean For You