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We need to have specific, targeted sanctions against china's entities that harm u.s. interests. but blanket tariffs harm the u.s. economy, they harm u.s. consumers, they harm u.s. farmers, manufacturers, and this is not the right way forward. and protectionist policies have never benefited the united states or any economy in the world in the past. the united states is an economy based upon success of free markets, free trade, economic freedom. that's the best approach here, and we do need to hit the chinese hard in specific areas where they're harming u.s. interests, but a blanket tariff appro...

The wrong hand. what's the right hand. >> where i think that trump is right is that china is a threat and a threat to our economy. and from the long-term perspective -- and they're looking at this long-term, not just short term. i think that what i would end up doing is saying let's talk about each of the sectors that we're really concerned about. 25 years ago china did this in steel. so in some ways we're fighting a battle from 25 years ago. right now they're doing it in tech and negotiate not to say we're going to have blanket tariffs and an escalating trade war but let's come to the table a...

The consumer. in the ends, that's who will bear the real cost and that will have an impact in terms of losing more jobs than we gain out of, this i understand he wants fair and reciprocal trade, specifically targeting china, but i'm not sure all the blanket tariffs across the board are the best what i to do it. >> neil: thanks very much. meantime, we'll be looking at this from a quarter and a month and half year perspective, a special edition of life life tomorrow at 10:00 a.m. eastern on this channel among the many issues we're following, crunching the numbers and where we might go the rest o...

20% and talk about the tax cuts, 35 to 40% of that is attributed to the tax cuts for the corporations. it has added a huge boost to the economy. the economy is doing fantastic right now. if we can keep the trade talks out, the market will do well. >> neil: and you already have g.m. saying we're worried this could hurt us. g.m. could be odd man out in a trade war here. it echos concerns of harley-davidson maybe for different reasons. but there's concern growing that it could rain on this market party. what do you think? >> right. i do think that a lot of second quarter profits, companies did be...

I'd like to see us avoid that for sure. >> i'm curious. without the tax cuts, where do you think this market would be? >> i think it would be down from where it's at right now obviously. like i said, 35 to 40% of the innings are attributed to the tax cuts. the market is on a fantastic run since the president first got elected this year. it's been tax cuts. this market in the stage of a bull market it's in right now, the market would be stagnant and going sideways. we have low unemployment, which would have probably been there no matter what. still the economy, the big boost to it in this late ...