Tariffs Dont Work News Today

I will talk to michael, the former secretary of homeland security. then these white power attacks are part of a movement. when did it begin? what are its goals? a university of chicago historian takes me down the long road to the el paso massacre. >> also, trump versus xi. the trade war heated up this weekend in a big way. >> somebody had to make a stand. >> is it good for america or for anyone? larry summers, the former treasury secretary weighs in. but first here is my take. president trump ...

Are part of a movement. when did it begin? what are its goals? a university of chicago historian takes me down the long road to the el paso massacre. >> also, trump versus xi. america versus china, the trade war heated up this week in a big way. >> they were taking hundreds of millions of dollars a year out of the united states and somebody had to make a stand. >> is it good for america or for anyone? larry summers, the former treasury secretary, weighs in. but first here is my take. president...

Different story. >> the story is changing and the situation remains very serious. thank you so much. as we mentioned just a moment ago, president trump met with the irish prime minister just a little while ago. he fielded questions from reporters and the conversation came back home to tariffs and mexico. take a listen. >> step up and if they dont, tariffs will go on. if they go high, the companies are going to move back into the united states. thats all, its very simple. the drugs that are comin...

Disrupt us someday. it may not be one thing. it may be factors of events the straw in the camels back that looking back that is what did it. >> what keeps you up at night on that front? >> i think bad policy they dont fix. we want issues seriously looked at and resolved. on the other hand, a trade war, every time you see the effect on the market place. a trade war wouldnt be a good thing. i do believe that both the u.s. administration and china are trying to get to a proper deal. >> what does it...

Extend the deadline on the tariffs. raising them for another three months. i think thats the best case scenario that weve got coming out of this meeting. >> sandra: this is huge for president trump. >> bill: it really is. >> sandra: expectations are high. >> i have to be quite honest with you. first of all no other president every fought that fight before. there are a lot of critics last year, a year ago that said tariffs dont work, its a dumb way to go about this. use the world trade organizati...

But trump is trying to placate both sides of the argument that trade wars and tariffs dont work. >> julian, there are people who say, talks about this havent -- simply look at the long-term, historically the trade wars have a bad effect. really bad effect. so theres a lot of evidence because this is not -- >> well have more coming up on "state of the union with jake tapper" coming up at 9:00 a.m.

Goods. imported goods. how come we arent creating those products here at home? i think we need to expand on this. everyone is using the same language but tariffs have worked very well for china whose economy has gone from less than 2% of global gdp in 1979 as ours has declined. tariffs are working well for south korea and india. the fastest growing economies in the world have tariffs either two or more times ours. i guess tariffs dont work but why are they working for china? >> if there is a mor...

Eerily similar to what george w. bush and his team was saying a decade and a half ago to support steel tariffs that they were putting up. you know that. cnn covered it. it did not work. it did help the steel industry 13, 14 years ago. these tariffs, it simply propped up what was an ailing difficult economic situation. it is not going to work now. tariffs dont work. they simply have government at that point picking winners and losers and we are -- our argument would be whether it is democrats or ...

Why does the commerce secretary not know everything about the policy? >> the commerce secretary needs to know the basic commerce for the last century. the tariffs dont work. this is not an esoteric argument. we know tariffs hurt the economy. we saw this with president bush imposed tariffs on steel. we saw it when president obama imposed tariffs on tires. to think we will do this again on a broader scale and with no apparent plan in place is just fantasy thinking. >> it is, though, a campaign pro...