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Been very strategic about what kinds of american products it puts tariffs on, targeting iowa pork and soy beans and other products from politically sensitive areas and china is at a point right now, if it does anything to give in to trump it looks like its caving. and the chinese government is very sensitive at appearing strong and not looking like it is caving to trump. i think trump is basically made a miscalculation here. >> this is something the president is promised to do. i don't think it should come as a surprise to people the level of which he's following through. david sanger, i want ...

China? >> we discussed this before. the chinese are much better prepared for this kind of tit for tat than the u.s. is. we know they have a big trade surplus but there is a grab-bag nature to the tariffs. the administration is looking for some place to apply them. the chinese, where can they apply pressure for maximum results within the u.s.? on soy beans in the midwest, on pork exports, on boeing, on all the rest. this is something i think is another expression of this getting tough, the rest of the world is cheating us but most people who have looked at this think that it's not well thought ...

Up and china is threatening retaliation. scott, in a statement issued by the chinese government commerce ministry i should say, the chinese government responded to new threats of the u.s. tariffs, this is a quote, saying it will strike back hard. should we be worried? >> we should be worried. a trade war could mean rising prices for american consumers, it could hurt people who produce things in the united states who want to export them. there was a big layout about soy beans and the effect on that. having said that, there are a lot of americans looking for the president to follow through to cr...

Let us know what comes out of the meeting. and thank you for being here. so to the markets, new trade tensions hitting new levels. the president threatens $200 billion tariffs on china. the market does not like that many morning. what are you seeing? >> reporter: one analyst putting it this way. poppy the latest skirmish began actually on friday where president trump announced a 25% tariff on $50 billion worth of chinese exports. china vow today retaliate on american high value products, like pork, soy beans, crude oil and cars. the trump administration late last night came out and said, loo...

Reporter: live from america's news headquarters. i'm robert gray. heightened security at the world cup after a taxi plows into a crowd in moscow. it jumped a curb and injured 8 people including two from mexico. the crash is believed to be an accident. russian police detained the driver. china announcing tariffs on tens of billions of dollars worth of american goods. the targets include soy beans, whiskey and cigars. it comes 24 hours after the white house slapped tariffs on dozens of chinese goods. president trump said the united states can no longer tolerate china's theft of intellectual