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It is if this trade debate escalates. i don'ts think we're in a trade war yet. >> neil: very few traders saw the huge gains we had last year let alone the follow that up we have this year. is there a worry that trade is that wild card development? what do you think? >> i think so, neil. we've seen the market can adjust and can absorb what we know is coming as of july 6 between the u.s. and china. $34 billion in tariffs. we've seen july 1 this plan for canadian tariffs between is u.s. and canada worth $13 billion. investors can adjust to that. when we see in the headlines talking about $200 bil...

Presidents refused to take him on, i think president trump's doing exactly the right thing and i think it's going to generate very positive results which will grow our american economy, it will grow china's economy, it will help grow the world's economy. >> you're right, president trump is doing something where previous presidents haven't. the question is whether this threat of hundreds of billions of dollars of tariffs. just before you took this job you said that tariffs were prosperity killers, you wrote an op-ed saying mr. president, tariffs are actually tax hikes. if the president pulls th...

I think president trump is doing exactly the right thing. i think it is going to generate very positive results which will grow our american economy. it will help grow china's economy. it will help grow the world economy. >> i'm not taking issue with the idea that china is the root of the problem here. president trump is doing something where previous presidents haven't. the question is whether the threat is the right approach. just in the last couple of months you said the tariffs were prosperity killers. you wrote an op-ed tariffs are tax hikes. wouldn't tariffs if president trump pulled the...

For china. >> i oppose blanket tariffs. i've always been a hard liner on china. while i don't like tariffs, sometimes there's no substitution for putting tariffs into the discussion, into the process. that is part of the quiver of arrows the president has. look, he's a great negotiator. he has a whole history of that. in this process, tariffs have to be part of t it. there's no two ways about it. hopefully there will be discussions and hopefully in the next two months the chinese will come seriously back to the table. president trump has told me, twe were together a long time on thursday and f...

Brings down its barriers, opens up its markets and stop this technology steal that they're doing from the usa. >> chris: nobody is saying china isn't to blame. the question is the president's he response. here's what you said last month when president trump announced his first round of tariffs. this wasn't an announcement, this was real imposition of tariffs on aluminum and steel. here you are. >> tariff hikes are prosperity killers. they always have been and they always will be. tariffs are taxes. the ones who suffer most are the users. >> chris: so who should we believe? that larry kudlow or...