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A point about. this he said it was the first of many. this is a gamble. he talked about that he's negotiating, positive talks with many countries right now. this may be the stick and the old carrot and the stick negotiating attempt. what do you think? >> it's important to lock arms with all of our allies that, china also steals interest electric toweltule property. christopher wray said china xwhits more economic espionage than any other country. china requires u.s. businesses to transfer technology to any chinese partners they do business with. we'll see if it works. the trick is not to punis...

People higher wages? if we do, things will become more expensive. when donald trump talks about air-conditioners being made in indiana, it's going to cost more than china air-conditioners. fox con promised to open a factory in pennsylvania in 2013, and it's not there. there are things grown in america, soy beans, live hogs, which are shipped to china for pork. so there will be an impact. there are people who export things, maybe we should emphasize exporting. one of the things you have to be careful of is you don't get counterveiling tariffs on things you sell to other countries. china said it...

When 25% of all boeing airplanes made in america are sold to china, when 30% of the soy beans that american farmers grow is sold to china, china will simply raise the prices of those goods which means that the chinese instead will buy airbus or they'll by soy beans from brazil with a huge surplus. >> doesn't the president have a -- as ham fisted as this is, doesn't the president have a point and which he has agreement from bernie sanders and agreement from left wing economists that, look, this has acted our wage base and it has affected our jobs. we have become prisoners to low-priced goods an...

President george bush put on steel to not a great effect. this isn't the first time there have been these attempts. the real concern is the retaliati retaliation. what if another country like china, the biggest importer of u.s. soy beans decides to do the same thing to soy beans? that would be a big problem for farmers in iowa and illinois and the ag community at large. >> the other thing is it's going to be targeted. if you look at the last set of trade tariffs on tires, it was very targeted, very specific. what the president did yesterday was basically did an all-encompassing, we're going to...

>> the fear, richard, is that other nations will respond in kind and raise prices and that american consumers are going to pay? >> i'll go further than that. this is a racing certainty. make no bones about this. if the u.s. does broad-based tariffs on steel and aluminum, the european union has already said it is looking at tariffs on harley davidson's, and levi's. symbolic on we're going to get your attention. what happens when china does soy beans? what happens when brazil or europe does some other parts, crucial parts of u.s. agriculture? you can take this to the bank. if the u.s. does full-...