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What's really bad isn't a waiver. it's that it's being granted to people that really aren't hardshiped. and that's where it ought to be identified. >> president trump tried to ease the tension today tweeting that his administration is planning a giant package related to ethanol and that farmers will be happy with it. he didn't say what the giant package might be. nbc's vaughn hillyard has been talking with corn farmers and ethanol producers in iowa. he joins us now from the town of shenandoah. vaughn, it's a complicated issue to understand. tell me how these waivers affect corn producers and e...

The economy now is a serious issue. it's a point the president has wanted to run on. and now it may be a head wind. >> he's never been above water. his approval rating has never been above 50%. and you need to evaluate the approval rating somewhere in the mid-40s as having been earned in the best of times. the point being, i'm not equipped to know whether this is the beginning of a recession or a blip on the radar screen. this i do think i know. if those numbers take a turn, it could jeopardize any shot he has at re-election. >> that's right. combined with what's going on with the tariffs and ...

Epa today to study whether or not e15, as it's known, can be sold all year long. it would be a big boon to corn producers who produce a lot of corn to ethanol, in states like iowa, nebraska, south dakota, as well. i also hear that the president will go over to the white house despite leaving. it senator joni ernst, chuck grassley, johnson, senator fischer. >> harris: south dakota, iowa. >> that whole area where they've got all the current stock. >> harris: absolutely, i have lived in that area before. before i let go, born nikki haley right now. there seems to be a warmth in the room i saw som...

Frankly. a lot of them are people you pick up the phone and give a call to, and they said, come on out. we've never even seen the press come 0 our front door. they all voted for president trump and said that today they still have that hope in the president. that he is going to be able to negotiate that better deal. i said, it's now four and a half months the trade war has been going on. he said perhaps they were a little too confident with what the president was going to be able to actually pull off, but they said in the meanwhile and in this certain situation, there's a $12 billion financial ...

Not account, that program, for future retaliatory tariffs. i talked to a man in iowa, a longtime third generation corn and pork producer updecora, iowa. he said the big question mark coming out of this, and i guess the big consequence of this trade standoff is the long-term impact. talking about export markets. they could, a lot of these farmers, like bob, could withstand the immediate financial impact. it's where our other countries, big import, like the lobster men. 20% of u.s. lobsters go overseas into asia. the question, are those markets going to begin to turn elsewhere and ultimately peo...