He could have timed this announcement -- >> look at the markets. >> right, so he could say, look, the markets are rising. we had a great day with the dow today. however, of course, the reason why markets are rising is that they had fallen before in response to the threat of tariffs. so again, it's -- trump is sort of committing arson and taking credit for putting out the fire. >> is there any incentive for china to back down from this, now that trump walked back his tougher talk? >> it certainly doesn't seem that way. look, if anything, he has discredited his own argument that there's no pain ...