The effects of Donald Trump's tariff hikes are already being felt in the US and around the world.  

The US President's updated trade policy is now in effect for more than 90 trading partners.  

New Zealand goods are grappling with a 15% tariff at the American border.  

US Correspondent Charles Feldman told Mike Hosking the income will pay for Trump's tax cuts for the wealthy at the cost of consumers.  

He says prices for almost anything Americans get as an imported product will rise.  

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