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This morning between china's top negotiator and steve mnuchin and trade rep robert lighthizer. the breakthrough comes days after the u.s. imposed more tariffs on $110 billion worth of chinese goods hours after the president insisted beijing will come around. >> president trump: we've taken in tens of billions of dollars in tariffs from china. prices have not gone up. or they've gone up very little. china has paid for most of that. i would say paid for all of it. china has now had the worst year they've had in 57 years. the worst year they've had in 57 years and they want to make a deal. >> har...

Computers, toys and president trump spoke about why the decision was made. >> we are doing this for the christmas season just in case the terrorist would have an impact on u.s. -- so far they have virtually none. the only impact has been reelected almost $16 billion from china. but just in case they might have an impact on people, what we have done is delayed it until then. it won't be relevant for christmas shopping. >> that news greeted on wall street, dow jones industrial average closed by more than 370 points. companies like apple's all their stock rise, apple shares higher by more than 4%...

Billion consumer goods. that doubly hits his base in middle america, if you think about it, because we know farming is being adversely affected. that's why all the billions of dollars we're collecting in tariffs are being socialized, are being pushed back to farmers right now. what comes next? this is what you have to think about. if we do have these consumer tariffs are there going to be tax cuts for individuals? do they need a bailout? does that come next? i think these are important issues to focus on as we go into the election. >> the reason why they haven't seen a consumer issue yet is be...

Personal computers, toys. donald trump spoke about why the decision was made. >> just in case of the tariffs with an impact but so far they have had virtually. the only impact is we've collected $60 billion from china compliments of china but just in case they might have an impact, so they won't be relevant to christmas. >> that news was greeted warmly on wall street as the dow jones industrial average moved up by 370 points, companies like apple father stock prices rise. apple shares higher by 4% on the day. is for what is next in this, for one thing negotiators have time to talk, the us trad...

At the same time, they have to be careful about how much tax burden we put on american companies and consumers by the application of more and more tariffs. what his action and the trade rep action today said is simple message. we're backing away a little. we're going to take care of christmas. we think we're going to be able to start moving forward with the chinese negotiations and we're going to see the markets go up and that's good for everybody. that's what i think we're watching. >> neil: tom, the president said that, you know, the chinese are dealing with the tariffs, not american shopper...