hours later china retaliated with the proposed tariffs of soy beans and chemicals and planes and cars. that sent stocks tumbling. the president insisting in a feet th tweet this is not a trade war. neither tariffs package goes into effect yet. larry kudlow calls this not a trade war. >> this is a process of tariffs and comments on the tariffs and ultimate decisions and negotiations. there is back channel talks going on. i understand the stock market anxiety. i get that. on the other hand, don't overreact. >> that assurance may have worked. stocks rebounded. trade tensions escalated and investors are concerned. a trade war would be devastating for consumers and businesses