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Steve: this is the starting point. according to the "wall street journal." united states has 375 billion-dollar trade deficit with china. he would like to reduce that the president, by 100 billion and also reduce the import tariffs on cars and open up the financial markets as well. ultimately that is, it sounds like his end game. right now he is throwing out the 150 number. keep in mind, it's just a consideration. it's what if. behind the scenes talking. ainsley: prices might go up when it comes to soybeans and cars. jobs will come back? brian: right now the markets are going down on the futur...

After this, addressing it because it is a big issue. the problem is, the way he is going about it -- >> this is the sloppiest thing i've seen. he says there's more tariffs. chinese says there is. kudlow says there isn't. market is down 1.6%. >> larry kudlow said we want the least pain possible. down 400 is painful. markets reacting to this and the jobs report. >> the other thing, the president keeps doing this and we keep pointing out it's wrong. he says we have a $500 billion deficit with china. it is $375 billion, still a lot of billions of dollars. i just don't know why the president keeps ...

He later tweeted when you're already $500 billion down, you can't lose. regardless of how you feel about trade deficits, the president is lying. according to the commerce department, the gap between chinese goods and services imported into the united states and american goods and services exported to china was just over $375 billion in 2017, up from $347 billion in 2016. there is no way you can add or subtract these numbers to get to $500 billion. that's just a made-up number by the president. the u.s. trade deficits in goods and services worldwide last year did have a 5 handle. that's $566 bi...

The bigger issue is aluminum and steel tariffs that have rattled the markets. it is more of a negotiation the president has launched than anything else. i'm not afraid of a trade war. >> bill: does he chip away at it to get a better deal than before or is this an entire remake? >> bill, we have 800 billion in deficits in terms of trade across the world. china has a $375 billion surplus with the united states. pick any country, germany, $70 billion surplus. i don't think these countries will do too much to mess around with the positive position they have. so i think it's just about fair trade. ...

Require u.s. firms to hand over intellectual property in exchange for operating in the company. the u.s. times is reporting that they trump team is also making headway on tariffs and american cars and that they are going to gain access to the chinese financial sector. well, folks, since we have a $375 billion trade deficit with china, this is all really good news. on trade, let's remember, the president has stood on principle. he stuck to his guns and he completely altered the dynamic for the better. and it is not only in china. the white house says that a new nasa deal is in the offing. we sh...