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Threats. overall, china is looking at a very big global problem if this does indeed go through because, as you know, their economy is slowing down a bit so that could actually have major global repercussions, peter. >> here's how larry kudlow sort of assessed the situation as it relates to china this morning. take a listen. >> china is in trouble right now. their economy is lousy. investors are walking out. the currency is falling. my opinion, china better take president trump's efforts to solve the unfair, illegal trade. their tariff problem, their lack of reciprocity, their technology steali...

United states than we export to china. we have a real imbalance. they have a different situation. xi has basic live lifetime power. they have a surplus. look, the president is probably doing the right thing by going after ip theft. it is dangerous to american companies and hasn't been addressed. >> those who support the president are saying about this. here's a compilation of those. for instance, congressman steve king of iowa, they are not as concerned about trade deficits as they are about this emerging trade war. talking about his voters. pat roberts, very is unfortunate outlook that we hav...

Important issues. one is trade one is theft. on trade we run a trade deficit with china. we believe they have been unfair in their trade practices so the president is looking for ways to address that issue. at the same time, long term ip, intellectual properties. we believe that the chinese are making our companies enter into agreements or into negotiations with their companies that give them access to our iop. that is a problem. that is what we consider theft. so the reality of it long term is the president is trying to tamp down on ip theft. at the same time create an quilequillibrum where t...

Growth would be higher and welfare of poor citizens in every country would improve. and so i think that president trump is -- trying to move us toward a better world. and he didn't start this fight. china starts the fight. imagine if there were pirates raiding our ports and how the u.s. would respond. and so the ip theft that the u.s. t.r. put out is a damming document. the ip theft is serious and they need to stop and president trump is standing up to them. and i think in the end, the equilibrium is good where they are in the community and people can invest without intellectual property witho...

I've known kudlow for a long time. >> for sure, except for the fact that larry kudlow went on the -- was in the driveway and said there are companies who don't abide by the rules. i'm not saying amazon is one of them. so larry kudlow says that. you know who says the exact opposite? the man he's working for. and i want to show this. because just moments ago president trump took to twitter. the fake news "washington post," amazon's chief lobbyist, has another of many phony headlines. trump defiant as china adds trade penalties. wrong. should read, trump defiant as u.s. adds trade penalties, will...