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And steel. we deal with an oversupply, a glut of supply from china through unfair trade practices and we've been working country by country working to try to address these concerns in a different way. >> jon: if china is the problem, why slap tariffs on canadian and mexican steel? >> because they depreciate prices through their glut of the worldwide supply and they are increasingly taking over the global supply in a predator manner. so the president's actions are about protecting american steel and aluminum. critical for national security. he has worked to exempt certain countries and allies w...

Dow futures now up about 100 points. a lot of questions on the chinese tariffs. will they happen or not? what's the white house saying this morning? >> the dow may have turned around yesterday by the new chief economic investor kudlow. the stock market has been all over the place. the white house has been getting criticism and praise for the intention to slap tariffs on $60 billion of chinese goods. china yesterday announced it would implement its own retaliatory tariffs in american goods, most of those produced in politically important swing states. in his television debut yesterday larry kud...

Gave to president obama which allows the president to do things like this, slap tariffs on things if they want to. they technically could take that away. he said republicans voting against the president, there's probably zero chance that would happen. >> this letter is the equivalent of a sad face emoji. molly ball, josh dawsey, rachel bade, thank you. a secret meeting before the inauguration between russians and people with ties to president trump, was this away to establish a back channel with russia? excuse me, are you aware of what's happening right now? we're facing 20 billion security ...

Great on the remasume. it is a great place. it is tough. i like conflict. i like two people with two different points of yview. i like watching it. i like seeing it. i think it is the best way to go. >> reporter: despite the fact the president saying at the conference that everybody wants to work at the white house, apparently among the people who don't want to work at the white house is gary cohn because, wolf, he was in sharp disagreement with the president over the proposal to slap tariffs on trading partners and allies. britain among them and many allies. one thing we should point out, wol...

Rumblings that the president may tone down these tariffs and fwoenld this pressure and not slap tariffs on steel when it comes to canada because they're involved in the negotiations. but whatever measures the president was thinking about toning down and softening, that would not be enough. to say that there's no chaos in the white house, that's a flat-out false statement. i has been chaotic week after chaotic week. the only thing that stands out is when there is no chaos. it happens so rarely. when you have people leaving because the president is about to slap tariffs. remember when steve bann...