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What success is here. >> yeah. i think that's exactly right. the only way to win a trade war is to not be in one. what you are starting to hear some of these businesses saying is that they have tried in many cases to find new production platforms from which they can import the goods that are now facing increasing tariffs in china. and it's just really hard to do. by the way, note that that does not accomplish trump's goal. trump's goal is some version of import substitution, meaning build stuff domestically that's being currently built. that's not what we're hearing. they will saying maybe i w...

Toys and televisions from china. we also import tons of intermediate goods. these are imports that go into products that are produced here. so our linkage is to the chinese economy are not just the stuff that's on the shelves of walmart. and even then, as i said in my last remark, those goods are not going to be made here. the globalization ship has left the port and now, as i mentioned, those producers are looking to import from other countries often in asia. so, a, the notion of imimportant substitution that we'll just replace all that stuff domestically is just not going to happen. that's n...

He would include the tariff rate on an additional $300 billion of chinese goods that have yet to go undertariff. these were supposed to happen on september 1st. as you recall, the president so generously said he will delay those until december 15th so it doesn't affect anyone's christmas shopping. this is the worst kind of trade war because it is lose-lose. everybody loses. farmers are losing. consumers are losing because prices are going up and we're not selling more goods to china. it is worse in china. there is no resolution in sight because the aim of this trade war is entirely unclear. it...

Own hand picked chair to the authoritarian of china. the president also ordered u.s. companies to cut ties with china, something that, in fact, the president at least today cannot do. and we saw almost in real-time the effect of trump's tweets. here is what happened. that first jog down in the market. the dow dropped. it dropped fast. it never really recovered, closing more than 600 points lower. it was more than 700 points lower and made a little recovery in the last few min outes of trading. $75 billion worth of u.s. goods. and then late this afternoon trump made good on his promise to respo...