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>> i appreciate your time. the author of makers and takers, a rise of finance in the fall. harley-davidson stands to lose $100 million a year. explain to us how tariffs work. >> they're basically a tax on doing business. countries impose tariffs on other countries and it makes products imported to the u.s. from europe or vice versa, from the u.s. to europe. more expensive. that's what happens. in a trade war. a fax consumers end up paying. and we are in for a lot more of this. i think these tariff that's we're seeing a iconic companies are not just a negotiating posture on the part of donald t...

More expensive. that's what happens. a fax consumers end up paying. and we are in for a lot more of this. i think these tariff that's we're seeing a iconic companies are not just a negotiating posture on the part of donald trump. something that has been talked about a lot. i think it is normal for global trade. this president has said exactly what he said he would do. put tariffs on countries he feels is not playing fair. i think it is terrible strategy that we've ended up in a trade war with allies like the u.s., canada, mexico, at the same time we're fighting china, which is really the real ...

>> the question has been all along that is a negotiating posture, it's a negotiating posture, it's a negotiating post khmer. >> right. >> i should say there is a school of thought that taking a tougher line with china was not a crazy idea. it's something that rational people have urged. >> we have to be fair. there has been a 30-year problem of the chinese stealing intellectual property from the united states. unfortunately, this is so trumpian in that it's a very complex problem that he is trying to fix in a very simple way. just like immigration. i have a problem with immigration, i'm going ...

Chinese tariffs on computer and electronics goods. $4 billion from mexico, $4 billion from the eu. $17 billion from canada, and the chinese are threatening somewhere in the 20 billion area. trump thinks he can win the war with the silly idea that since we import so much from china than they import from us, that he can ramp up more tariffs and therefore the end number will be larger, and that to him will be winning. but unfortunately, it doesn't quite work that way. handy is going to find this to -- like a game of chicken with the only truck that is moving is the one towards him. that's how thi...

In some of these meetings. he's showing up to the meetings late, he showed up to the summit late and left early. these world leaders are trying to strike a balance here, listening to president trump's tough talk, saying that they understand where he's coming from but then at the same time not willing to necessarily give in, and in fact, the french president, emmanuel macron, just held a press conference where he talked about the past two days of deliberations and he said this about a potential g7 joint statement on trade and a trade agreement and this is what macron said. he said, quote, this ...