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Argument now that he's inside the white house? >> it's what he thinks and what he believes and what people who are smart on trade believe, if there's a way to impact china's behavior, which they do bad things, this way unilateral tariffs of the united states, it will hurt them. i'm not saying this administration is capable of putting together a coalition of the willing, i think what they'll wind up doing is getting into a tit-for-tat trade war that will ratchet up on our consumers and will not do anything to hurt china. they're doing something very, very stupid in a very, very stupid way that ...

And a longtime tv personality known for playing bozo the clown has passed away. frank avaruch portrayed the famous clown from 1959 to 1970. now it is time for my favorite part of the show, you know what it is, money, power, politics. about three hours from now, the president expected to announce new tariffs on china. and the markets, they're not reacting well. right now they are down. let's see how much. well, why don't we just bring in dom chu down at the new york stock exchange. peter alexander at the white house. and ben white back with me. dom, what is it that the markets don't like? bec...

Economic impact will be is something the market's trying to handicap, stephanie, right now. >> it's those farm counties that don't want president trump to touch nafta. peter, the original proposal was for about $30 billion in tariffs. trump wanted $60 billion. what do we know about the final product? and who has factored in to dom's point where this is going to hit. if it hits red, manufacturing, agricultural states, that is, in fact, trump country. >> yes, that's the risk of a potential for a trade war. the final figure expected to be announced obviously about three hours from now. we are hea...