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Changing where china is no longer on the mat, no longer in disarray and things might be improving, the president is right to say we've been this economic juggernaut but all of a sudden china might be rebounding from the worst of it and not need a trade deal. >> worst year for china not in 57 years but 27 years. close. the trade war and the pressure from the u.s. side has -- is the reason that china backed off on hong kong. making that rare concession, blinking. i was surprised by it. >> yes. absolutely. >> china doesn't necessarily have to back off when they hold most of the cards as they do i...

Try. nothing else has worked. the markets were rattled by confusing signals. steve mnuchin admitted there is in fact a potential for a new trade war as larry kudlow keeps trying to calm everybody down by suggesting this is all a negotiation that might get china to make minor concessions. >> we're considering adding tariff pressures. considering. i don't want to disrupt the economy. this is a moderate tempered approach that we are taking. it's moderate, temperate and proportional. this is not a trade war. >> we're going to have a much stronger country when we're finished. that's what i'm all ab...

Ways we've already fought and lost the trade war. china's cheating has been ignored by republicans and democratic presidents. he said it's killed thousands of american factories, millions of american jobs and we're stuck not with a $500 billion trade deficit. here's the thing, even anti-trump columnist acknowledged today in "the washington post" president trump is right, previous administrations exerted pressure privately, worked within the system, try to get allies on board with limited results. i'm willing to give unconventional methods a try, but nothing else was worked. stephen ocean today...