The stock market and American businesses are on edge as President Trump plans to announce a new swath of tariffs, dubbing Wednesday "Liberation Day."

Across the country and here in Southern California, the already beleaguered hospitality industry, so key to our economy, is bracing itself.

California’s alcohol businesses are also getting caught in the crossfire of the trade war.

LA Times wealth reporter Andrea Chang wrote about the local businesses that are bracing for the price hikes and what it means for consumer. She joined Lisa McRee on "LA Times Today."

Watch the full interview above.

Watch "LA Times Today" at 8 and 11 p.m. Monday through Friday on Spectrum News 1 and the Spectrum News app.