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Watch and we'll get into it more. >> this president does not want to go to war. he's not a war kind of a person. he wrestles with these in a very, very serious way. he doesn't want to do this. as he has pointed out, sometimes you wind up having to do stuff you don't want to do. >> so what are some of the collateral stuff that you might not want to do that you have to do? i'm thinking oil, i'm thinking money, sanctions. like what is the collateral? >> that would be the other damage that would come from taking action. not so much in the world of oil necessarily. i mean, i think the world is awas...

So many of those farmers who are already impacted live in trump country. they put him in the white house. you're seeing the stock market react. but from the president's perspective, what must be more disconcerning is how this is impacting pocketbooks, wallets, all across the country. how risky is this on behalf of the president? >> and 401(k)s. the president loves to talk about how people have gotten richer under his presidency. the effect of his tariff announcement is that the stock market has really dropped and may continue to do so because this trade war he has now made clear is going to co...

The two are so closely connected. >> home prices have come back dramatically. new home sales are up. home builders that reported earnings in the last two weeks amazing. the data has been amazing. the only problem we have is not enough homes. maybe a victim of its own success. maybe the prices are going too high. the fact of the matter is housing is going gangbusters right now. >> sandra: they are softer than analyst expectations. you hate talking about that. it affects the way stock market react. a little disappointment there otherwise big picture stock market. are stocks cheap? >> stocks have...

Amendment perspective and president attacking the media perspective, and now as you introduce, it is a problem in that the president is choosing companies over other companies. there are consequences to this. this can go further. >> without question. we have seen the stock market react to this. amazon stock was down yesterday around 5%. down almost 10% the last few weeks. sources say he is seriously considering cancelling a pending contract that amazon has up forbid with the defense department. they also have some very large federal contracts that donald trump would like to revoke. that could ...

Obviously huge for the stock market and we've seen the stock market react negatively, and there's a pretty robust debate about whether the tariffs would have the intended effect of reviving american steel industry or reducing our trade deficit with some of the countries that do have surpluses of steel. and so trump may be a bargaining chip that he is trying to use during these ongoing nafta negotiations to renegotiate nafta, but it's hard to see how this would have an immediate benefit on the american economy and, in fact, we've seen signs that it could be detrimental. >> and where this came f...