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Will stop at a call billion in tariff, which is small compared to the u.s. economy, and the deal will be made where china says we'll reduce our deficit a little bit. and we're all fine, we're all good. i think that it could be wrong in that if trump gets angry at whatever china does, if they retaliate for, you know, more of the tariffs we put on, this thing spins out of control, then you see markets tank. right now, strong economy tax cuts, assumption that there won't be giant trade war with china. >> the commodity markets are reacting negatively. are the commodity markets sort of a precursor ...

President's commerce secretary says even if markets tank, the president will not surrender. >> there is no bright line level of the stock market that is going to change falg lass falla. the president is trying to fix long term problems that should have been dealt with a long time ago. >> katherine rampel is with me. is secretary ross right? >> i will say he is right on one point which is that the white house should not be crafting policy with the explicit goal of maximizing the dow despite the fact that trump himself believes that the dow is the optimal measure of his administration's success....

War, that we're going to be talking about recession, not just in the united states but for the whole globe. >> neil: the argument has been that the chinese recognize all of the above. teaming up with some of our allies that that might be debatable. but they have seen their markets tank. speculating the shanghai has moved into the bear territory. multiyear lows. their currency is getting smacked around. now they're doing everything they can to stimulate an economy that is hiccupping. so they need us to the point of the president more than we need them. they need to do a deal. they just don't wa...

Be? at the end of the day if they can flip the blame how long is that going to last if you are coming home with less money in your market and you are distressed by the policies of this president. that is the question. >> it is a nationalist argument, protectionist argument. there is a lot of evidence to support over on the years. there will be short-term pain. it you may be more. i see a president with consistent thinking but gets incredibly jittery when the markets tank. not only the the establishment but financial markets see the prospect of a trade war and get completely spooked to the poin...

This. you said that context already. the american people are going to blame all of washington, the white house and congress if the government does shut down, if the markets tank or continue to tank. they are already taking a hit. >> right. >> if they see, in fact, more costs because the shutdown itself entails cost. the budget impact is a negative impact. >> i don't think what matters here is where the blame is allocated. i think american people know who is responsible for this. what matters is people are going to be hurt. there are folks who will go without pay. small businesses won't get pai...