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Xi, like a screaming pouting child, is that he's going to pull for they don't coupling, they don't coupling notion. >> jared, explain why that is tough. it is not just that we buy stuff. this is not a normal relationship that we would have described 20 years ago, where we're buying manufactured goods from china. the relationship with china is substantially more complicated than that. from a currency perspective. >> from an investment perspective. and from what china does around the world. >> so donald trump thinks that he can unscramble the globalization omelet and he can't. it's not just that...

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's worse in china. there's no resolution in sight. because the aim of this trade war is entirely unclear. it is unarticulated by the president. nobody in the white house has articulated what success looks like. and don't forget, this is all happening as trump's own aides are warning of a business climate that is at risk of faultering, thanks in large part to the president's own chaotic policies. as the "washington post" reports, top white house adviser...

Trump tweeted he would be raising the tariff rates on $250 billion in chinese goods from 25% to 30%. the president also tweeted that 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...

The lobsters, they are getting from canada now. we will never get it 100% back. the chinese are suffering more than we are. there is no articulating view of 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 ...

Unscramble the globalization omelet, and he can't. it's not just that we import 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'l...