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States is already on the losing end of this trade partnership with china. he wrote a little earlier today on twitter saying we are not in a trade war with china because that war was lost many years ago by the foolish or incompetent people who have represented the united states. now we have a trade deficit of $500 billion a year with intellectual property theft of another $300 billion. we cannot let this continue. and then he added a little later on, when you're already 500 billion down, you can't lose. of course, wolf, markets seem a little unconvinced that we're not on the brink of a trade wa...

A stunning thing to do. he also improbably suggested he wasn't going to sign the trade agreement that he reached with south korea that the administration had been touting all week because he was now holding it as a negotiating tool, as leverage he said. apparently people didn't realize he was going to say that either. this is a heck of a way to run a government. yes, he is in one way signaling something that he might do. we don't know if he will follow through on syria. the most disturbing thing is that he is not telegraphing anything or discussing anything apparently with his own team. that c...

>> thanks for having me. >> breaking news, the markets minutes away from closing after the dow surged 650 points. after friday's big losses this is a bounce back. we're joined by sue herera. where do we stand? tea hi >> hi, peter. the market is up almost 700 points on the session. highs of the trading day. part of the reason is the heated rhetoric of last week concerning trade has really cooled off. and as a result of that the market is rallying, thinking maybe these trade tariffs are only a negotiating tool and not something that will be punitive and hurt the relationship between the u.s. and...

Mexico if they renegotiate nafta. the president treating we have large trade deficits with mexico and canada. nafta, under renegotiation, has been a bad deal with the usa. massive relocation of companies and jobs. tariffs on steel and aluminum will only come off if new and fair nafta agreement is signed. that would seem to suggest that the threat of tariffs against aluminum and steel are a negotiating tactic, something that the director of trade and industrial policy at the white house peter navarro said this morning isn't quite accurate, is not a negotiating tool. listen here. >> the purpose ...

We will simply apply tax on their cars poured freely in the u.s., they make it impossible for our cars to sell there, he's talking about bmw and mercedes, some are made here already in the united states but that's what a trade war starts with, you don't think it would get out of control? >> again, the tariffs aren't saying that we are eliminating product from the market, we are going to price them competitively. you know, if europe wants to engage in that, you know, i think the real issue with europe is the amount that they spend on the contribution to nato and so this is an issue that we can ...