trump tariff policy so-called it's whitely disputed as the one who will end all solution for its trade deficit which is your ending that i know you only white about on the other hand yes china is white regularly accused of ip infringement intellectual property infringement it's a tricky point to weave into been because a lot of merit a lot of american brand tech products. outsourced to all manufactured in china itself so the actually really do need each other and in this case i should point out trying to raise going by the rules book it's doing everything it should according to the w t o but just tell me about these u.s. food imports you hike of of beijing's it's going to hit american farmers including kong growers who produce ethanol with some chinese refineries saying it now makes no sense to import that if the dollar but rather by a local because of the higher import tariffs. absolutely know that that price difference is gone there's literally no cost virtually no cost savings on china's part so it's a good opportunity for china to grow its domestic market ethanol specifically in th

well in the first place trump tariff policy so-called is whitely disputed as the one who will end all solution for its trade deficit which is your ending that no you only wipe but on the other hand yes china is white regularly accused of ip infringement intellectual property infringement it's a tricky pond to weed into been because a lot of merit a lot of american brand tech products. outsourced to all manufactured in china itself so the actually really do need each other and in this case i should point out trying to reason going by the rules book it's doing everything it should according to the w t o but just tell me about these u.s. food import duty hike of of beijing's it's going to hit american farmers including kong growers who produce ethanol with some chinese refineries saying it now makes no sense to import that if the dollar but rather by a local because of the higher import tariffs absolutely know that that price difference is gone there's literally no cost virtually no cost savings on china's part so it's a good opportunity for china to grow its domestic market ethanol spec

president trump is shrugging off damages this tariff policy may cause to investors. let's to go our senior correspondent. >> in response to the president's threat, we've sustain stock market reacting. the white house paying close attention to the dow being down more than 500 points. today press secretary sarah sanders when asked if the white house wants a rid the war with china, she says the white house does not want that. president trump is not backing down. announcing thursday night he is threatening an additional $100 billion in tariffs against china. even if those threats rock an already volatile stock market. >> the easiest thing for me to do would be to close my eyes and forget it. if i do that, i'm not doing my job. i'm not saying there won't be a little pain but we'll have a much stronger country when we're finished. >> reporter: the latest threats taking many by surprise. ben sass issuing a harshly worded state saying hopefully president is just blowing off steam again. if he's even half cirrus, this is nuts. and larry kudlow saying he only found out about t

has been a trade germany german carmakers that could stand to really be hurt by trump's policies and speaking about the aluminum and steel tariffs that are it where the exemption for the european union is a set to expire on monday when these were originally announced in march the u.s. line was that these were protectionist measures necessary to protect american steel and aluminum makers in the u.s. it had said it that they were also needed it to protect national security and it's not clear that america has actually been able to make a difference in trump's view on that issue. all right in washington clear with senate here at the big table or form and both of you thank you boards will be seeing you a little bit later on the day as well. now to the korean peninsula the leaders of north and south korea today agreed to formally end the state of war between their two countries sixty five years after the fighting stopped at the historic summit and and said that they will sign a formal peace treaty by the end of this year and work towards a nuclear free korean peninsula they insisted they d

of trumps these tit for tat tariffs and these threats that he doesn't often come through it's not sustainable at all it wouldn't be if you would really go forth is that there's a lot of bluster about it because he would also hurt his own economy by imposing the tariffs on steel at the moment he would hurt u.s. produces which would which by steel which consumes you and by imposing a terrace on cars for instance a lot of american produces they produce approach and import that to the united states and he would also hold those kinds of american producers with those kinds of terrorists if it would really if the trade war would really escalate finally is trump so right to worry so much about his trade deficit enough a surplus i think yes yes the united states has the biggest trade deficit of the world in the moment the european union has a huge and increasing trade surplus which basically means that the u.s. has now become the consumer of last resort for everybody else and basically also the china and the european union depend make themselves a lot of depend on the united states this increases on t

and what donald trump has believed over many, many years as a private citizen about trade policy, about tariffs. these tariffs, it's something trump ran on. it's something he in his gut has wanted to do the entire time he's been president. there was a long sort of stalled out debate if it were inside the administration for the first year about this issue. but trump in the last month or so has decided he's going to move ahead and do it. i think you see someone like larry kudlow more as a public face, expecting him to get out there on tv, out in the public and really defend and articulate the administration's policy as opposed to somebody who's going to come in and redefine the trade policy and turn it in a new direction. >> well, nobody redefined anything in the house of trump. phil, great, great piece, loved it. >> thanks so much, stef. >>> and the so-called caravan president trump has been fixated on will make its final stop in mexico city today after travel morgue than 600 miles by bus since last month. the migrants are mostly women and children fleeing poverty and gang violence in ho

our next guest says that criticisms of trump's tariffs are overblown and linked to anti-trump sentiment. he is a director of research at the economic policy institute. it is certainly true that there has been a lot of piling on on these tariffs and the idea of these not just from the regular consumer, maybe not even from the consumer, but wall street and corporate america which is really not what we have been seeing from corporate america when it comes to trump. two what do you put this down to? josh: it is a good question. i would say it is worth separating the various kinds of tariffs. there were tariffs on steel and aluminum and now -- about a month ago. that has been a long-running issue. issues in the global sales sector. -- fact that there is those are meant to kick off a process to resolve that. those scenes -- those seem like the response to a long-running problem. the latest amount -- the latest tariffs in the name of protecting intellectual property, that is a much thinner read to hang these tariffs on. i think the criticism is pretty warranted. they seem pretty scattershot. t

of trumps these tit for tat tariffs and these threats that he doesn't often come through it's not sustainable at all it wouldn't be if you would really go forth visit there's a lot of bluster about it because he would also hurt his own economy by imposing the tariffs on steel at the moment he would hurt u.s. produces which would which by steel which consumes you and by imposing a terrorism on cars for instance a lot of american produces they produce approach and import that to the united states and he would also hold those kinds of american producers with those kinds of car terrorists if it would really if the trade war would really escalate finally is trump so right to worry so much about his trade deficit enough to surpluses i think yes he is the united states has the biggest trade deficit of the world at the moment the european union has a huge and increasing traits up less which basically means that the u.s. has now become the consumer of last resort for everybody else and basically also the china and the european union depend make themselves a lot of depend on the united states this incr

mnuchin. >> on "power lunch". >> thanks. >> coming up more on trump's trade policy and tariffs as the national retail federation ceo says we're in a, quote, dangerous spiral more "squawk on the street" right after this break you know what's awesome? gig-speed internet. you know what's not awesome? when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about them. uh huh, sure. still yes! xfinity delivers gig speed to more homes than anyone. now you can get it, too. welcome to the party. and so i think as we look at this, it's the uncertainty that's getting created here. that's not good for consumers either. >> retail is in a world of hurt as we've been reporting on for the past few years, if these go through does that have the potential to put your industry into recession >> well, i think what we've seen in the retail industry is a massive amount of transformation and disruption the retail industry grew at 4.5% we had the best holiday season we'

will reconsider some tariffs and the policies that enhance our competitiveness rather than reduce our access to foreign markets. larry kudlow speaking earlier today to reporters at the white house, telling me directly at the end goal for the straight talk with china is, growth, and all negotiations are gone could take months and months. this comes at a time in which questions about the president ability to capitalize on 2018 midterm elections, particularly in states directly impacted by trade talks, is coming to a boiling point. mitch mcconnell speaking to a local affiliate in kentucky earlier this week, saying he could predict a political hurricane of sorts. if that hurricane is a category 2, 3, or four, a potential blue democratic wave. industry areulture raising concerns with the white house with regards to this new trade talk. vonnie: and the president is on the road again today. will he talk about trade and nowffs and will it work that voters are seeing the potential for china to retaliate? if you ask larry kudlow or peter navarro, they answer yes, because the president is headed

the french president will try to convince trump to temper his america first policies. the steel and aluminum tariffs, but some countries have exemption. that is unless macron and merkel can persuade trump this week. merkel heads to washington on friday. the eu wants permanent exemptions. if not, the eu threatens tariffs on $7.9 billion of u.s. exports. denim and peanut butter and bourbon and motorcycles. and trump threatened european cars. this is the tit-for-tat. and this battle with europe would be the second for the u.s. america is in a trade spat with china. each side is threatening the other with billions in tariffs. >>> president trump's nominee for veterans affairs secretary was scheduled to have his senate confirmation hearing tomorrow. sources tell cnn that is likely to be postponed in light of allegations against the white house physician ronny jackson. the committee members have been told about claims of improper conduct at various stages of his career. none of the senators would reveal specifics. there is no plan to withdraw his nomination. >>> last minute

concerned what trump policies might mean forre main . >> we are small business. weor stand american ways. and we sure hope that he would help out the small guy instead of harming us. were hurting down here. the nebraska economy is dependent upon farms. that's our business we hope he can help us. >> others say possible trade wars is making it more difficult. properties invests in small businesses and in town. he says potential steel and aluminum tariffs t have ledo price increases from vendors. >> right now as there is greateh uncertainty i market, it's difficult for me to plan and take initiativ and risk in doing future projects. we are watching every penny. >> that being said duff says he supports the president's decision to try to l el the playing field with trading partners.nt and as indepenoter decided to support the president in the 2016. >> i'm appreative for the trump administration taking ac and steps tore making this trade imbalance more fair. even set back for my companies and my business, ihe think long-term approach is smart that we have thisrs conion

kathleen: when it comes to trump rattling over tariffs, that turned into policy. when you have something like amazon, that looks like it will not turn into policy. it is hard to parse that. where it stands now, looks like the amazon pieces is more bluster. guy: who knows? thank you very much indeed. kathleen hunter. minutes away from market open. going to take a look at the stoxx we need to be watching, including swiss re with softbank's investment is unlikely to proceed 10%. -- exceed 10%. this is bloomberg. ♪ matt: welcome back to the "european open." let's get the stocks you want to watch. joining us now is to houston. let's -- is joe eastin. let's kick it off with the story of swiss re. investors had expected masayoshi son to take a big day, maybe even bigger than it is going to. guy: on for, he cannot hear, matt. swiss re, not taking as big mistake as anticipated. joe: it was suggested they would be taking a 25% stake and now we're expecting the company doesn't expected to be more than 10%. confirmed.r the evidence it with the reason is but a big company li

. >> word to president trump's infrastructure policy adviser is leaves his post. >> trump administration announcing it wants to slap a 25% tariff on 1300 chinese products. focusing on high-tech items like lithium batteries, and semiconductors, china expected to target u.s. products in return, embassy responding in a statement, only polite to recep kate. >> more on the battle between the aclu, a federal judge, as we talked about ordered government to assist illegal government minors in obtaining abortions. today the trump administration asked for a temporary hole on hn that order. keep you updates. >> and details out of mueller investigation, reports that president is not currently a criminal target. >> and president trump tough on russia, he said no one has been tougher, and adding that getting along with russia is a good thing. >> 411 days and counting, number some media outlet say it has been since president trump held a formal news conference, but he is talking to the media. we'll tallying it up when we return. you know what's awesome? gig-speed internet. you know what's not awesome?

trump is letting his zero some view of the world and is is like a foreigner drive a lot of policy decision and it feels made up on the fly. vonnie: is there a better

a lape that, $50 billion of tariffs. president trump has come up with $100 billion. and larry kudlow runs back saying don't worry, not to worry. what is the real policy? >> i've been fascinated, hugh. you know i cover capitol hill by the delineation of the response. the first time trump proposed tariffs against china, republicans on the hill were reluctant to speak out. they saw it as a negotiating tactic, a bargaining tool. now, with this threat of 100 billion in counter-counter retaliatory measures, they are skittish in the way you eye dee logically would expect them to be. kevin kramer, who is running against heidi heitcamp saying i'm urging sop sonny purdue to an end to this. they don't know whether these tariffs will go through. for the first time you are seeing republicans on the hill like chuck grassley, kevin kramer, seeing how this adversely affects their con teufp swepbts, visa is sa a video farming communities. >> the lowest in 40 years. but of course the drugs coming over the border. we had 66,000 who died of o.d.s. what does it moon when jerry brown in c

, from trade to tariffs, and tax policy as well. new york kam zelman here don't mission a moment investors eyeing fallout from tariffs tit-for-tat between u.s. and china president trump heads to west virginia to tout tax cuts adam shapiro at the white house with the very latest good morning to you. reporter: good morning, maria. president will be in sulphur springs west virginia fourth trip to thats state meeting with people and employers who have benefited from tax reform bill enacted last year, and how they have experienced not only in some cases thousand bonus but increase in wages talking about benefits of tax reform the senator from iowa, worried about tariff china might impose said there is a real danger increased tariffs on u.s. exports will harm iraway producers undermine rural economy my hope trump administration will reconsider tariffs procure policies to enhance excessiveness rather than reduce access to foreign markets administration has been saying quieted sometime they believe china has more to lose than the united sta

face it, speak are ryan was uncomfortable with president trump's position on tariffs to the wall to foreign policy. the two of them represent oshg posing strains of conservative. the free trade, more intervention and establishment that is ryan and the other a more american first pop limp, that is trump. the speaker's departure is a sign that trump's vision not ryans is the future of the party. people misread the investigation swirl i swirling around the white house a sign the president's agenda is unstead and he unpopular inform reality these investigations were the insurance policy against the tide of conservative pop limp that trump representatived they needed to stop trump. why >> his vision is pretty pop lawyer and it is working. manufacturing is up. unemployment down. china making trade concessions. rocket man is ready to flush his nukes. regulations are slashed. great for business. on the issues where paul ryan used to own these issues. trump is now in his own way making a difference. just yesterday the president signed an executive order pushing work requirements for those on public

ernst says that it is my hope the trump administration will reconsider these tariffs and pursue policies that enhance our competitive rather than reduce our access to foreign markets. she and her state are impacted by the soybean market. groups inside and outside of the beltway are also calling on the president to reconsider. there is some speculation this might just be an opening bid for the president to get china to the drawing board, but we just don't know. alix: thank you so much, kevin cirilli. coming up, that has all led to a very rocky week for the markets. more on the volatility we are seeing next. what is the new normal ahead? this is bloomberg. ♪ alix: mood swings in the s&p. yearves eight times this and 26 moves of 1% or more, triple the total of 2017. feels like a whole new world from last year. joining us now is karyn cavanaugh. thanks for being here. is this the new normal? >> we have not had a lot of volatility at all and make equities. now we're seeing a normal volatility, a vix around 20. that is a 20-year average. investors will have to get used to the normal volatili

policies. i tell candidates to go out and say i'm for trump and for his policies. lou: mcconnell and ryan are getting to be a big problem. they can annoy him, irritate him and block some of his programs. but the truth is they can cost a lot of congressmen and senators their seats because those congressmen and senators don't have the guts to buck ryan and mcconnell. ryan and mcconnell can give a dam whether they are in charge or not. >> those challengers will only win those seats if they talk about the trump agenda. lou: are there any options for the president? can he get rid of mitch mcconnell and paul ryan? can the conference muster the guts to say we have had enough of your nonsense. they are not republican and they are not conservative. ed: there are a lot of members unhappy, and ryan himself i think will give the seat up at the end of this term or before. lou: if he sits in this seat until the election the republicans will get wiped out in the house. ed: he wants to talk about entitlement r

its economy, but will continue pushing for concrete changes to china's trade policy. earlier, president xi pledged to cut import tariffs on cars and make it easier to invest in china. it follows plans by president trump to hit hundreds of chinese products with new import duties. president trump's homeland security adviser tom bossert has resigned from government. it reportedly follows a request from the new national security adviserjohn bolton. mr bossert oversaw the trump administration's work on cyber security issues. a mass funeral has been held for 2h children who died after their school bus crashed in india. most of those who died were younger than ten. the bus driver and two teachers were also killed. the incident happened in the northern state of himachal pradesh. the british prime minister theresa may isn't being invited to the wedding of prince harry and meghan markle next month. the couple have decided not to invite any politicians for their big day. however, 1,200 members of the public will be allowed into the grounds of windsor castle for the wedding. yuli

speaker ryan was also uncomfortable with president trump's positions on everything from tariffs to the wall to foreign policy. the two of them represent opposing strains of conservatism in some sense. one, the free-trade, more interventionist establishment, that's paul ryan. and the other a more american first populism. that's trump. the speaker's departure is a clear sign in my mind that trump's vision, not ryan's, is the future of the party. people misread the investigation mania around the white house as a sign that the president's agenda is unfocused, unsteady, may be unpopular. in reality, these investigations were the insurance policy against the tide of conservative populism that trump represented. they needed to stop trump because his vision is actually pretty popular and it's actually working. manufacturing is up. unemployment is down. china is back on his heels in making trade concessions. rocket man is ready to flush his nukes. unbelievable. regulations are being slashed. great for business. even on issues where paul ryan, he used to own these issues, trump is now in his own

lou: a few thoughts on the gutless rino leaders intent on working against president trump and his policies. senate majority leader mitch mcconnell calling the president's tariffs a slippery slope and speaker ryan watching unintended consequences. mcconnell and ryan always choose the safe path for them and only do the bidding of their members at the chamber of commerce and business round table. they ignore the president's efforts to fiction the damage to our country from free trade at any cost for america. they have demonstrated they don't care much about national interests, especially when it comes to the border to build the wall and follow the *'s lead, leaving the president will few options, leaving him to send the national guard to the border if we are going to secure the bored at all. if that succeeds it's comforting to know we have a man of action in the white house. that drives ryan and mcconnell simply nuts. i guess mcconnell and ryan will have to get over themselves. our quote of the evening. this one from dwight eisenhower who says history does not long entrust the care of freedom

president trump's recent move to impose tariffs on steel and aluminum imports is just his latest policy decision that has disrupted the traditional political order. support for the decision has but -- split conservatives between those who favor free trade and those who want to protect manufacturing jobs. but it's also attracting some liberals who are increasingly skeptical of the merits of trade. but the tariff debate is a microcosm of a broader dispute that is currently dominating public policy. and that is nationalism versus globalism. we have invited two of its best representatives, nigel farage and vicente fox, to debate this issue for our liberty tour. toel farage served from 2001 2016. he was the face of the successful campaign to take the u.k. out of the european union and the 2016 brexit referendum, positioning the referendum as a start of a global populist wave against the political establishment. mr. farage has been part of the european parliament for southeast england since 1999 and cochairs the europe of freedom and direct democracy group. he has been noted for his sometimes

it's full steam ahead for president trump's america first policy. this morning he defended his tariff tiff with china tweeting china will take down its trade barriers because it is the right thing to do. taxes will become reciprocal and a deal will be made on intellectual property. the president is also moving ahead with putting troops on the u.s. southern border. he's calling for up to 4,000 national guard troops. arizona has agreed to send about 150 troops. texas is sending 250. far short from what the president is calling for. the president this morning shot back at critics tweeting out that people of our great country want safety and security. the dems have been a disaster on this very important issue. here with me now ron insana cnbc contributor and gordon chang, "daily beast" columnist and author of "the coming collapse of china" and back with us retired army general jeremy jacobs. explain to us the president's position on this. how are tariffs that the president is putting in place protecting our domestic industries back here at home? >> well

i'm done the winter and this is your business update donald trump's protectionist policies and the looming trade war have brought japan and china closer together relations between the two asian powerhouses have been strained for decades but in the face of u.s. tariffs it's time for beijing and tokyo to mend fences. this handshake between japanese prime minister shinzo of he and chinese foreign minister wang ye could mark a turning point the two nations now aim to resume talks that were put on ice eight years ago as doubt hangs over the future of international trade the regional rivals now want to show a more united front. the world is now full of uncertainty trade protectionism is rising and as a result the free trade framework is under threat the rise of unilateralists and is challenging fundamental international rules we have relative stability in our region and we need to appreciate that. although donald trump's name was never mentioned during the talks his decisions have helped kick start the move towards better relations between asia's two largest economies the u.s. moved to impose st

he says he hopes that trump would grant a tariff exception for the eu, saying it cannot make a trade war with your ally. i thought we were going to have -- nick is listening to everything we just have gone through. thank you for being with an a and i. let's -- think you for being with anna and i. too big things of the agenda, iran and tariffs. do either of those trump what he has to say on thursday? >> not in the short run. when you think of the ecb, they will come back on the growth , the inflation outlook. if you look at both of those this week, the euro growth has gone from very above trend levels to probably, the inflati. just above trend levels. is that aestion is permanent moderation, or is it just a little bit of a hiccup? in reality, it is probably got. the big question for the ecb is how do they drive inflation a little higher? anna: is there anything macron in his visit to the united states, maverick to maverick, we have got this great cover at the front of "businessweek." he has to fix france and save europe, but they have already handled trump. he thinks of it as somethin

tariffs raising the question on over what it could mean for central-bank policy. kathleen hays is here with a look. is the inflationary threat of tariffs real? kathleen: there was a report we saw today, purchasing managers survey for the month of march raises the question big-time. finally start lighting u.s., maybe even a fire? inflation chart.ump into this you can see the blue line. that is the purchasing managers index, easing from just over 60 to 59.3, well above 50. you are clearly in strong territory with a good pace. it is this line that cut everyone's attention, prices paid. prices of raw material that goes into production. 74.2mped up from 78.1 to the month before, the highest since 2011. some of these rising costs were due to some panic buying before the tariffs. the survey was taken before they were put on by president trump. 32% of the chart. you can see the blue line. comments made by members of the isn in response to questions were that tariff concerns were a big concern about what is going to happen. this is early days. the chief economics for bloom

the trump administration announcing tonight and wants to slap a 25% tariff on 1300 chinese products. focusing on high-tech items like lithium batteries and semiconductors. china is expected to target u.s. products in return. china's embassy in the u.s. responding in a statement made morning, as the chinese saying goes, it's only polite to reciprocate. more on the ongoing battle between the aclu and office of refugee resettlement. a federal judge ordered the government to assist legal immigrant minors in obtaining abortions. today the trop administration aspirin emergency hold on the order while they fight it in court. they argue would force administration to violate numerous laws, possibly including a prohibition on using taxpayer dollars in connection with the abortions. we will keep you updated as that case unfolds. more details on the news out of the mueller investigation tonight. the report that the president is not currently a criminal target in the probe. also as president trump been tough on russia, he says not has been tougher. adding that getting along with russia is actuall

tariffs on steel and aluminum imports. trade analysts talk about the policies affect on national security and jobs. this is one hour. >> thanks very much. we will go ahead and begin. welcome to the afl-cio. thank you very much for coming. my name is celeste drake and i work on trade and globalization policy for the afl-cio, and her 12.5 million 5 million members. i'm very excited to be introducing today's panel and the really important topics we are going to be discussing. talking about trade policy in washington, d.c. can often be extreme a frustrating. abundance and commentators too often apply the simplistic and, frankly, incorrect free trade versus protectionist dichotomy and think they have brilliantly said everything that there's a say on the topic. but they couldn't be more wrong. for instance, intellectual property rules are critical part of u.s. free trade agreement and trade policy but to represent a clear deviation from so-called free trade. advocates like the afl-cio are often labeled as protectionists, even th

billion in tariffs on chinese goods . in a tweet this morning the president defended his policy say despite the aluminum terrace prices are down 4%. >> i am not saying there will not be paying but the market has gone up 42% so we might lose a little bit, but we are going to have a much stronger country when we are finished. that is what i am all about. >> the republican senator ben sack said this is nuts. china is guilty of many things, but the president has no actual plan to win right now. soybean farmers are urging the president to solve the trade dispute in a constructive manner giving 60% of exports to china. >> this is the kind of business where we have to stand firm against the chinese unfair trade practices unlike the last presidents who basically surrendered over 70,000 factories to china and millions of manufacturing jobs. >> none of the tariffs come into effect for another six weeks so there is still time for a solution. today trying to set of the present acts on this negotiations would be possible. in washingto

i mean, everything in this economy is hitting on all cylinders because o president trump's economic policies. >> the trouble is that this is a chess game where the moves are unclear. if the administration imposes another i$60 billi chinese tariffs as it has threaten aed ina recipro kates is that the end or is there another round to economists say they can't gauge the economic impacts until they know the answer to that and other questions. so their best bet is think hardest about the chance that it gets worse from here, not for "nightly business report," i'm steve liesman. >>> by the way, the wte house is expected this week to come out with that list of chinese products that i will be hitting with tariffs. high ch is certain to be on that list. josh lip ton tells us why tech has so much on the line and the fallout that might occur. >> reporter: u.s. trade chief robert lighthizer says the chinese aren't playing fair when it comes to american tech, that they pressure u.s. tech companies into forevering their technology to chinese partners and flat out steal american it. that theft costs the u.s

cast the wto aside for their america first policy.>> the chinese said there will be a 50% tariff on various products . the trump administration set it is just a small portion of overall trade with china and will not have a big impact on american jobs.>>> the announcement of new tariffs on new product was among several factors that sent stocks plunging. amazon and tells a also saw sharp losses. president donald trump of his criticism -- of his criticism of amazon today saying they don't play the postal office on shipping. the dow jones felt 400 points and the nasdaq drops 3%. the s&p dropped 58 points. all of the major indexes are now in negative territory for the year. >> joining us now with some perspective on the market as our financial advisor from morgan stanley. the stock market drop significantly today following the news out of china. what is your take on that? >> i would sum it up in one word. fear of the unknown. fear. we have had robust economies, and everyone is one what the effects is going to be. that is where the issue is coming in and the stock market is feeling the fear. the

are you going to support the tariff policy. he was out after that. i can tell you if he was shown the door or left on his own. maybe a combination of both. we've lost a lot of that. i don't know exactly why. i will tell say something that did happen. there was a headline about the deficit. two years early because of the tax cut. if you believe the tax cuts will pay for themselves because they will increase gdp and tax if you believe that the corporate tax cut his neck in a pay for itself. we will get higher interest rates that is a debate that you are having. the closing about where about eight minutes away now. earnings season is about to tumble upon us. we may not have a beautiful crystal ball like the one we have here. what you can do with all your money before all of the earning action kicks in. nah. not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-

they are leaving the trump administration no choice. yes, no one likes tariffs. no one likes trade friction. no one likes industrial policy. but in an innovation economy, if you can't protect innovation, you don't have an economy. >> pete: absolutely. tori, you know, if state run companies are benefiting from intellectual theft. and selective -- and world trade organization. china a developing nation and as a result gets preferential treatment, is america supposed to you play on playing field. >> listen, i honestly do not think that tariffs are the right way to go. you know, gordon makes an interesting point there that you know, the trump administration or that china is the one that's possibly going to be ruining the world trade system. the united states is going against the world trade organization and doing unilateral. instead of using the organization we have in place to enforce the rules. there is history that actually backs this um. in every case that has been litigate i had between the united states and china, at the wto, the united states has won. and nine

are one of president trump's main demands and the chinese leader may have had trump in mind when he warned against a cold war mentality and protectionist policies the disadvantage china always show and find out what yeah we hope that the developed countries will stop imposing the limits i don't normally and reasonable trade of high tech products and lift the export control of high tech products to china cue the applause from an audience that included world leaders appreciating perhaps the irony that china's communist party now sees itself as a pillar of a free trade the president's speech was big on promises but vague on detail but his words seemed to be conciliatory and there appeared to be a message to the united states and others concerned about chinese trade practices president xi promised to protect intellectual property rights another major area of concern in washington a further attempt to present china as a responsible rules abiding member of the global trading system. and japan has welcomed a decision by the u.s. to explore the possibility of rejoining the trans pacific tra

is tel to protectionist policies visits from both mccall and medical sales to throw out any promises regarding an exemption can we now expect to follow through and implement tariffs against european union. it's very hard to predict i think the behavior of the trumpet ministration those who've attempted to do so in recent months are generally fatal but on the basis of the evidence so far on the signs in the last couple of weeks i think we do have to expect a escalation so say who did deadwood stays tariffs redress the trade imbalance and i mean isn't it the case that in general prices of european goodson's that could rise to states certainly france's if you have been goods will rise we've already seen increases in prices for both the new million and still just through the announcement of the tariffs whether or not this will be just a trade imbalance i think one has to be extremely skeptical trade imbalances are the result not generally individual price differentials and competitiveness issues there is a lot of macro economic imbalances in excess of demand in the united states relative

. >>> president trump threatens more tariffs on china and stocks take a nose dive. is the u.s. and china on the verge of a trade war? and what would that mean for the american economy? are you done yet? does it look like i'm done? shouldn't you be at work? [ mockingly ] "shouldn't you be at work?" todd. hold on. [ engine revs ] arcade game: fist pump! your real bike's all fixed. man, you guys are good! well, we are the number-one motorcycle insurer in the country. -wait. you have a real motorcycle? and real insurance, with 24-hour customer support. arcade game: wipeout! oh! well... i retire as champion. game hog! champion. internet providers promise business owners a lot. let's see who delivers more. comcast business offers fast gig-speeds across our network. at&t doesn't. we offer more complete reliability with up to 8 hours of 4g wireless network backup. at&t, no way. we offer 35 voice features and solutions that grow with your business. at&t, not so much. we give you 75 mbps for $59.95. that's more speed than at&t's comparable bundle, for less. call today. >>> the financial

farmers for trade released this ad imploring trump for help imported from the u.s. are targeted for tariffs and could cripple farmers who are very optimistic about the economy under president however we're very concerned about the trade policies from washington we depend on free trade policies that maintain our export markets on wall street by closing bell the markets had recovered at least for a day everyone knowing however this tariff fight could not only damage the u.s. and china but have repercussions around the world. which is either new york or let's go live as agent brown our correspondent who's in the chinese capital beijing an age in this one a six week window perhaps of opportunity for the negotiators do we imagine then that a chinese team is being assembled and is already trying to make contact with the team. i think it would be hard to imagine that the back channels are not being worked at the moment and i think certainly in the weeks ahead expect a flurry of diplomatic activity but in that report we just heard it's quite clear that the united states doe