The specter of rising U.S. inflation reared its head in February as the cost of supplies for U.S. manufacturers jumped to more than a 2 1/2-year high in response to new or threatened tariffs by President Trump.

Rohit Chopra, former CFPB director, and Stephen Moore, former Trump economic advisor, join 'Squawk Box' to discuss the potential impact of tariffs on the U.S. economy.

Employers, workers and supply chain experts brace for greater impacts if levies on Canadian and Mexican imports take effect Tuesday.

President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth.

President Donald Trump said Monday that 25% tariffs on imports from Canada and Mexico will go into effect Tuesday, which could start a trade war.

Trump said in remarks Monday he planned to proceed with 25 percent tariffs for Mexico and China. Markets fells on the news.