President Donald Trump is gearing up to apply a round of tariffs on Chinese, Canadadian, and Mexican imports in early March

The White House is eyeing an end to the de minimis import rule. "U.S. consumers could face larger consequences than meet the eye," the New York Fed wrote.

Leland Miller, China Beige Book CEO, joins 'Squawk Box' to discuss news of China vowing to retaliate as necessary after President Trump's latest threat of another 10% tariff hike, impact of U.S. companies doing business in China,