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Know, you could actually see a net reduction in jobs. look, i think donald trump's heart is in the right place. i do think he cares about the steel and aluminum workers. i traveled to a lot of the areas where factories have left. i just don't think this is the way to bring them back. >> why doesn't he get that? >> look, they're going to let trump be trump -- >> yeah. >> go ahead. >> if you let trump be trump you better make sure the house is fire proofed. once the advisers are out of there, who knows what he is going to do. >> steven? >> well, austin, look, you know, you and i can talk about t...

Buick. they talk free trade and they practice perfectionism. they are far more protectionist then we are. china's tariffs 25 percent. that is a funny kind of comparative advantage. i makes this argument about leveling the playing field. they had been pushing back. they had expressed fears that other countries will act in a reciprocal manner. what is the impact of not been being on the same page with a lot of the folks in their own party. we will have to see. it's not helpful when our own party. this is something they feel so strongly about. people who are not usually critical of the president....

President would like to see a reciprocal tax in place is that right? >> yes, yes, that's true but i think the important point that he was making is we are not in a level playing field and we are not protectionists. china and europe talk free-trade and they practice protectionism. they have far more protectionist s than we are. take cars. our tariff on automobiles is 2.5 %. europe's tariff 10%. china's tariff 25%. that's a funny kind of comparative advantage and free-trade, the theory is those countries that inherently make a better product and/or make it cheaper are the ones who will prevail i...

And they are trying to do it on every front. we will show in a moment. this is something that has been in donald trump's crawl when he was not president for decades. i mean, this might be actually the thing that drove him to run for president in the first place. he has been very unhappy about trade imbalances for a long time: are they right or wrong, tom? >> i think they are probably wrong in the sense that, yes, it will be marginal in terms of basic canned goods. we saw wilbur ross talking about that today. but the problem is for poor families, that marginal cost has a disproportionate impact...

Increase interest rates which would reduce investment or cause more foreign borrowing which would increase the trade deficit. also the house has a lot of bizarre, misguided tax increases on higher education that would hurt graduate students, and a source of our, you know, comparative advantage is having people get good education and good degrees. they're actually making that harder rather than easier in this tax bill. >> there's also a "new york times" analysis estimating the senate plan leaves 13 million people without health insurance, causes 9 million more to spend at least 10% of their inc...