tuning in. always a pleasure. i'll see you tomorrow at 2:00 p.m. on the intelligence report where i am he day. good night from new york city. you probably saw that for many years no president wanted to go against china economically and we're going to do it. here we go again. the president says he's considering $100 billion on china's goods and china vowing to retaliate. >> the new trade news is slamming u.s. stock market futures. the dow is now tone over 200 points. it had been down more than 400 points. the volatility continues on wall t street. >wallstreet. >> it's been a rough week. we had green numbers. this hasn't happened in more

than a month. it's been quite a week for your markets. and in europe, stocks opening under pressure. they remain under pressure on the new trade news. you can see the dax in germany is down 1 2/3. taking a look at asian markets, ail lower except for the hang seng which eeked out a bit of a gain in japan. the nikkei lost a quarter percent in south korea. the shanghai composite in china is down fractionally. we have reaction coming in from jp morgan's ceo on the president's fight with china and the national retail federation is calling this a game of chickens with the u.s. economy. we start right now. ♪ 5:01 a.m. here in new york. it's friday, april 6th. good morning. i'm cheryl casone. >> happy friday. i think it's a happy friday. we made it to friday.

that's the happy news. i'm lauren simila lauren simone. >> cheryl: we are pulling back right now, hoping that cooler heads can prevail. at this point things are pretty stressful with china. >> lauren: china vowing to retaliate -- it's been said that china would not hesitate to pay any price to defend its interest if the u.s. takes any trade action. china's strongly worded response comes after president trump proposed an additional $100 billion in tariffs in the escalating trade dispute. the move would triple the amount of chinese goods facing tariffs

when entering the u.s. the president, who says these tariffs are because of alleged violations of u.s. intellectual property laws also says an escalation would be due to beijing's, quote, unfair retaliation which could, quote, harm our farmers and manufacturers and this is what the president said yesterday while speaking in west virginia, reiterating his stance. >> we can't be taken advantage of any longer. you have to go after the people that aren't treating you right and in many respects i think we're going to have a fantastic relationship long-term with china but we have to get this strangeened out. we have to have some balance. >> jamie dimon weighed in, saying it is, quote, not unreasonable for the u.s. to push for fair trade terms with china. he said he believes both sides want to reach an agreement but there's always a possibility for negative outcome which creates a higher risk and more uncertainty. as both countries continue to up the ante, the president of the

national retail federation said, quote, we are on a dangerous downward spiral and american families will be on the losing end. he urges the president to, quote, stop playing a game of chick when the u.s. economy. we haven't heard from the president following these latest overnight developments with china but we are hearing from the markets. futures tanking on the news of china's promise of retaliation. take a look at it, down more than 206 points. >> we're hearing from all sorts of economists and investors and each republicans in congress that this trade war is not what we need right now, especially after the benefit of the tax cuts. china again is threatening to retaliate if the trump administration goes ahead with additional tariffs on chinese goods. the senior economic analyst at bank rate is here and a chief

strategist joins us now. good morning. >> good morning. >> i want to start with kind of a question of what we see. we saw this play out earlier in the week. you had the futures pointing down severely wednesday morning but when larry kudlow came onto fox business he kind of basically eased tensions with markets and we saw a major reversal. i want you to listen to what larry kudlow said yesterday. >> technically both countries have just proposed tariffs. there's nothing enacted. let's not jump to worst case conclusions. our farm sector has been doing great. china should give them more export opportunities and support. >> there you go, mark. the chief economic advisor to the president sounding a very different tone. who do we believe? >> well, i think the actions of the last 12 hours or so are the

most immediate evidence of where the mindset is in the white house. we know larry kudlow is in favor of free trade but the president perhaps not so much. seems that peter navarro has higher status in the white thousand these days. if we were to think this is the equivalent of a pitcher in baseball throwing a brush back pitch, the question is whether the batter will move out of the batter's box on whether they'll take a baseball to the head. those are the two options we have right now. there's a reason there's global revulsion to this prospect because there is worry that we will damage global growth. we got this tweet from the president yesterday, talking about his characterization of the trade war. he says the fake news has another phony headline.

it should read trum drum trum te will help things. >> i think he's right. i think a lot of people -- a lot of republicans agree as well, maybe not the gop part of the party that is so focused on the election, they want to focus on tax cuts and -- but the president doesn't want to defend the status quo. he wants to fix what's wrong here. clearly, this is an escalation. when you're in a trade war, it's scary. but we're not in a trade war yet. so far, from what i can see, this is a negotiation and they're both throwing out some pretty large barbs here. the president put out that he suggested to his trade ministers

to look at that. i saw one thing out there that bothered me a lot and i hope he doesn't go down this route, that he might subsidize the farming industry. that would be a big mistake. if he does that at the expense of others, i don't think he'll get the support. >> the president also said, and we don't have any more details, but that he's going to direct the agricultural department or agricultural secretary to make moves to protect american farmers. that's all we know. what questio can we do? >> i think that's the larry kudlow argument. obviously, as you indicate, nothing has happened concrete yet but there is the risk and there are essentially two things that can really help growth prospects in the united states. one of them is international trade. the other is immigrants coming into the u.s. to help supply the labor force. we obviously have the jobs report upcoming. and at the moment you have to say the administration seems hostile to both of those

concepts, both international trade and immigration. >> you know what, david? can't you make the argument that the trade deficits aren't as bad as the add administration seemo be harping about. we saw a 23% year over year increase in january and february on the trade deficit, 23%, which is high, at the same time, david, that's economic activity. that means that americans want to buy more computers, they want to buy more engine turbines, they want to buy goods from china and we've been doing just that. >> that's the status quo. that's what we've been told for the last 20, 30 years and china counts on that. and we've learned to live with that. but it has held us back as an economy and we're ceding a lot of our leadership to them. i'm encouraged looking at the market action this morning, it's modest compared to what we had first time this was around. we're kind of numb to it. things are down marginally. i think we're starting to get used to this. this is a negotiation and this

is what happens in negotiations right now. i don't think we're going to drift into an all-out trade war, not good for either side. >> david, i hope you're right. you're correct, we're not down 400 anymore, we're down 200. thank you very much for your coverage on the breaking news this morning. we have big news on the economy later this morning, the labor department out with their march jobs report. here's the expectation, 193,000 jobs added. that's down from 313,000 back in february. as for the unemployment rate, that's expected to tick lower to 4% and that would be the first time since the year 2000, so 18 years. maria bartiromo will have her jobs in america special on "mornings with maria," that starts at 8:00 a.m. eastern time. we've got this 8:00 a.m. eastern time rare press conference coming out of beijing, job reports 30 minutes later. it's going to be quite a morning. >> what do we respond to in the market. >> >> we'll have a lot more on the

big story this morning. china vowed to retaliate against the new tariffs from the administration, $100 billion this time, as the president is getting tough on trade. >> we had a trade deficit of almost $500 billion last year with china and it was time that we did something. >> taking a look at futures right now, as you can see the dow lower by 216. we were down 407 in the premarket. have to point out that we've come back. s&p and nasdaq lower as well. the president is ratcheting up the rhetoric because amazon and jeff bezos, we'll have the latest on that feud. you're watching "fbn a.m.." [fbi agent] you're a brave man, mr. stevens. your testimony will save lives. mr. stevens? this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible.

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welcome back. let's get you caught up on what's happening now. taking a look at your futures, we do have another selloff on trade worries between the u.s. and china. we were down 407 in the premarket but now we're only down 206. s&p is lower by 20. nasdaq is pointing lower by 55. we're going to have more of course in just a few moments on that trade war. snches speaking to reporters aboard air force one, president trump says he's taking a, quote, serious look at policy options against amazon. the president accused amazon of taking advantage of the u.s. postal service and not paying enough sales tax. he repeatedly criticized jeff

bezos on twitter. facebook shares rose as much as 4.2% yesterday after founder and ceo mark zuckerberg reassured investors that usage and ad sales have not been greatly affected by the recent data privacy scandal. facebook shares sinking 16% over the last three weeks, wiping out $80 billion from its market value. and black rock, the world's largest money manager stripping companies like walmart, kroger and di dick's sporting goods frm the socially conscious sales trading funds over the sale of guns. black rock made public its scrutiny of companies associated with gun sales and manufacturing. this is an example of investors steering clear of companies some customers wish to avoid. a south korean court ruled the ex president is guilty of coercion. she has maintained her innocence, claiming to be a victim of, quote, political

revenge and has refused to attend court since november. when we come back, the rhetoric is certainly being turned up between beijing and washington. that is our top story this morning as we explore this potential trade war. it is moving the markets. we have reaction from europe straight ahead. as we go to break, let's show you dow futures. stocks are down for the first time in four days, down 213 in the premarket. you're watching "fbn a.m.."

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president trump threatening to slap china with an additional $100 billion in tariffs. the manager director of tjm europe joins us now. good morning. happy friday. i wish it was a happy friday for the markets, scott. i'm curious, who is harmed more in thi the trade war? is it the u.s. or china if we have a full-blown trade war erupt. so far it's created $150 billin in tariffs being threatened, that's more than all of our exports last year to china. >> right, depending on what you read, it's close to a little bit

more or right at that number. in round terms, they bought $150 billion off of us and we bought almost $500 billion off of them. so if we stop buying $500 billion of things from them in a ridiculous world and they stop you buying $150 billion of things from us, who do you think hurts more? we'll go elsewhere. their economy crashes. we can suffer that $150 billion much more than they can suffer the $500 billion. i don't think it's going to get to that point. let me say, i think this is going right down the middle of the playbook of how he handled the nuclear bully. we've got an economic bully and a nuclear bully. he stood up to north korea. i think that so far has ended okay. now he's standing up against china. the markets are reacting like we've seen this before. it's only about a 30 to 40% of the reaction we had the first time around. the market is coming to terms that maybe this is all right in the end. we'll have a bit of a bumpy road. i think the sentiment agrees

with donald trump that it's just not fair. >> i hear you and i agree with you, with much of what you said, scott, but we do have markets down, granted not 400, not like we saw earlier this week with the first round of potential tariffs but they're still down 200. heading into a jobs report and typically, you've been following this stuff for years, when you have a jobs report coming out it's the calm before the storm and then you react to the big number on the employment front, do you think any of that is going on? maybe investors are just saying we hope this march jobs report is the goa goldy locks report ad maybe we can start trading on how strong the economy is. >> yeah, i think that, yes, that is definitely the case. the markets were quiet around the world yesterday because everybody was gearing up for what the numbers are today. before this happened, i would say the most important to look at today is going to be the wage growth, any inflation again, which is expected to rise which will be a good thing and number two the labor force participation rate.

the unemployment rate will be getting close to 3, 3.5%. the number of people we put into the labor force can make a bigger impact faster. the u.s. economy is doing pretty darn good. at some point we'll have to take comfort in that. that doesn't mean the market has to go up because of that. the market went up the last eight years when obama was in office when things were really bad. it can help mute down the tariff taketantrumses. >> i like that, tariff tantrumses. >> that's exactly what we're watching. we're obviously going to continue the breaking news, the big story overnight that just broke, china has vowed to retaliate again against any new tariffs in the trump administration after president trump said he was considering another $100 billion in new tariffs and vowing to get tough on trade. all of this hitting futures hard overnight. the dow was down 407, now we're

only down 184. we're seeing cool heads maybe prevailing. >> for the impact of the upcoming jobs report. >> jobs report, that's going to be big. you're watching "fbn a.m." stay with us. eded legal advice, and i heard that my cousin's wife's sister's husband was a lawyer, so i called him. but he never called me back! if your cousin's wife's sister's husband isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life meets legal.

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you probably saw that for many years no president wanted to go against china economically and we're going to do it. >> tough talk on trade. president trump threatening $100 billion in new tariffs on chinese goods and china vowing to retaliate at any cost. >> and all of this news overnight, slamming u.s. stock futures, here we go again. dow futures had been down 407 points at the session low. right now, dow futures down 194. s&p down 19, nasdaq down 53. >> and the dow had been up for the past three days. we hadn't seen something like that in over a month, so now for

the first time in four days. >> in europe, stocks actually opening under pressure on the trade news coming out between the u.s. and china. >> reaction in asia looks like this, look at the nikkei in japan, down a third of 1%. in south korea, it's down a third of 1% as well. reaction from jp morgan's ceo, jamie dimon, on the president's trade fight with china and the national retail federation calling this a game of chicken with the u.s. economy. "fbn a.m" continues right now. it's 5:29 in new york. it's friday, april 6th. good morning to you. i'm lauren simonetti. >> good morning. i'm cheryl casone. here we go again. >> lauren: here we go. what did scott call them? the tariff tantrums. >> cheryl: the tariff tantrums.

we have another market tantrums going on overnight. china vowing to retaliate after the trump administration said it would slap an additional $100 billion worth of tariffs on chinese goods. >> lauren: we bring in tracy with more on that. >> neither side seems to be backing down. overnight china vowed to fight the united states, quote, at any cost. a ministry spokesman said china would, quote, would pay any price to defend its actions. president trump proposed an additional $100 billion in tariffs in this escalating trade dispute. that move would triple the amount of chinese goods facing tariffs when entering the u.s. the president, who says these tariffs are because of alleged violations of u.s. intellectual property laws, also says an escalation would be due to beijing's, quote, unfair retaliation, which could, quote, harm our farmers and

manufacturers and this what is the president said yesterday while speaking in west virginia, reiterating his stance. >> we can't be taken advantage of any longer. you have to go after the people that aren't treating you right and in many respects i think we're going to have a fantastic relationship long-term with china but we have to get this straightened out. we have to have some balance. >> jp morgan's jamie dimon weighed in, saying it is, quote, not unreasonable for the u.s. to push for fair trade terms with china. he said he believes both sides want to reach an agreement but there's also, quote, a possibility for a negative outcome which creates a higher risk and more uncertainty. and as both countries continue to up the ante, the president of the national retail federation said, quote, we are on a dangerous downward spiral and american families will be on the losing end. he urges the president to, quote, stop playing a game of chick when the u.s. economy. we have not yet heard from the

president following these latest overnight developments with china but we're hearing from the markets. futures tanking on this news of china's promise of retaliation. look at that, down now 187 points. >> luckily we're coming back a little bit on the tantrums that we're now calling it from the markets. thank you very much. for more on the political ramifications of all of this, robin viral and jessie jane jeff join us now. robin is a former campaign director and jessie is at the london center for policy and research a former gunnery sergeant. happy friday. >> happy friday to you. >> as we talk about the political ramifications of all this, if you look at trump country and his base, they might say we believe in the awesome negotiating power of the president but many republicans up for re-election don't have that time because the midterm%

imidtermsare in november. how does this play out. >> i'm concerned about how this plays out. i think republicans have a right to be concerned about how this plays out. look at who this affects. the farmers by and large were trump supporters. this is going to affect them adversely. i think the republicans really should be concerned bout how this is going to affect his base and, you know, i've got to -- in full transparency, i have to say that i supported initially the tariffs, the tough talk on the tariffs, but i think now we're getting close to some dangerous territory because of what it's doing to the markets, what it's doing to american farmers, and i think i might have been wrong and i think it takes a tough man to admit when he's wrong and i think the president may be almost at that point and might need to humble himself and watch som-- walk some of this back. >> let's take a look at some numbers. the brook ings institution says

this could disproportionately affect working class jobs, the jobs the president tried to cab when he was campaigning, of the 2700 counties that are affected here, look at that, most of them went for trump. this is 1.1 million jobs at stake, jessie. how do you make sure that in your potential trade war, your negotiations with china, the american paycheck, your base is not at stake. >> first of all, there is no trade war right now. the president is talking about negotiating with china. he has stated that we are going after $100 billion in trade. we have a $500 billion trade deficit. we have lost extensive manufacturing jobs. we have also lost a lot our power over our own technology. china has actually practiced illegal trading where they required technology to be transferred over and licensed in china for the u.s. to even do business with it. this is against our own trade policies. so why is impacting and enforcing the very laws they

agreed to a bad thing? when we get trade back into the united states' hands and to the advantage of the american people, we will see prosperity again. instead, we have essentially ex ported all of our-exported all of our technology. the president is saying enough is enough. the obama administration did nothing on this. president trump is saying we will. >> you're right. a lot of the rules that were implemented to help china way back when, when they weren't the major economy that they are right now, but robin, how do you -- how can we be sure that we're going to win this fight is my question. i know it's still a negotiation. the president is good at negotiation. but they are fighting back in china. they have a very -- it's a holiday in china. at 8:00 our time they have an emergency briefing to discuss their retaliation. >> right. and that's a really tough question. because everything that jessie

just said was very true. china has engaged in intellectual property theft in order -- they have made us give over our intellectual property, just to do business there. it is grossly unfair. but now they're coming after our farmers, so when it comes to technology they were stealing our technology and now they're going -- they're giving these tariffs about our farmers and that's where i'm concerned. when i issued my statement, that's where i think trump voters, trump, the administration should be concerned because that's actually his base. china was smart to go after that. that should be concerning to the republican party. i don't think there's an easy answer here, but i really hope that we can just play through these negotiations. i understand the threats. i just am getting concerned about the markets and how close we are to a trade war. we are not in a trade war but i'm concerned about where we're headed. >> the answer is the art of negotiation as we wrap this up,

jessie. what is the strategy, then, for republicans going forward? because it was we grew the economy and they did. deregulation, tax cuts, up until recently the amazing gains for americans' 401-ks. if this trade war negotiation doesn't pan out as the white house and trump administration hopes it does, what's the strategy for republicans? >> the white house is targeting products and services in china that we already have ample services from other countries or we're capable of sustaining in our own country. we're not going after products that are going to devastate our own economy. the president is going to negotiate. so we import $530 billion of their products. we only -- i'm sorry, $506 billion. we ex presiden -- export $150 b. the advantage is to the americans on this. >> jessie, robin, thank you guys. have a great weekend. >> thank you. we continue to follow the breaking overnight news.

china has responded, vowing to retaliate against $100 billion in new tariff that's the trump administration is considering. the president is getting tough on trade. >> we can't be taken advantage of any longer. you have to go after the people that aren't treating you right and in many respects i think we're going to have a fantastic relationship long-term with china but we have to get this straightened out. we have to have some balance. >> the chinese have responded and investors have responded. the dow is down 190 right now. we were down 407. so we are coming back a little bit. the trump administration is set to announce new sanctions against russia today. we're going to discuss that as well. you're watching "fbn a.m" " mom? dad? hi! i had a very minor fender bender tonight in an unreasonably narrow fast food drive thru lane.

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happy friday. welcome back. let's get you caught up on what's happening now. we'll take a look at your markets this morning. it's been a solid week for stocks. today trade war brewing with china, dow futures down almost 200 points. the trump administration is set to sanction some of russia's elite today. the long-promised response to russian meddling in the 2016 presidential election ordered by congress in january. the list of russians targeted by the treasury department are close to russia's president, vladimir putin. president trump says he has confidence in epa chief scott

pruitt calling him, quote, a fantastic man. this as the white house looks into several controversy including his renting of a property in washington, d.c. at a discounted rate from an energy lobbyist. pruitt has faced questions over travel expenses and large pay raises given to two epa employees. mma fighter conor mcgregor turned himself into the nypd and charged with assault and criminal mischief after allegedly attacking a bus full of usc fighters in brooklyn. a video appears to show him hurling a dolly towards the bus, shattering a window. three usc fights have been canceled as a result of this mayhem. one fighter got glass in his eye. another was reportedly cut on his forehead. you saw the video. all right. tiger woods made his return to the masters yesterday where he earned a green jacket four times

previously. a pair of back to back bogies spoiled his opening round. he finished 7 shots behind the day's leader which is jordan spieth. he finished the day 6 under par, two strokes ahead of fellow americans tony finoe and matt kuchair. >> i need golf footbal or footbo take away the sting. president trump is considering $100 billion in new tariffs on chinese goods. china vowed overnight to retaliate at any cost. gary b. smith, fox news contributor is here. gary, let's talk about what the chinese minister is saying, quote, unquote, that this retaliation against china is unfair and that they're going to consider new measures.

gary? can you hear me? >> i'm sorry. i thought you were going to play a clip there. >> oh, no. but i have one. stand by for that. go ahead. >> i think, cheryl, at this point i've heard some of your other commentators this morning. i can't disagree with anyone. i'm going to go with my gut feel on this. it sounds like typical trump s a aber rattling at this point. it wasn't just a few months ago, north korea was flying missiles over japan. now it looks like they're on the brink of sitting down and talking with each other. at that point, people thought oh, my gosh, he's escalating a war with north korea. they're going to be firing missiles at our allies and it's going to be world war iii and it turned out to be nothing like that. so far. now, maybe this is different. maybe it isn't. trump likes to, from my estimation, negotiate from a position of strength.

i think jessie was noting that we export, remark what, $500 bio them, we import about $100 billion. we're the big dog in this fight. so if they want to get into a fight, china, they're probably hurting themselves and their citizens more than us. so i think it's the first move of an entire chess game we'll see if that pans glou out. >> investors have to watch all this. i want you to listen to what larry kudlow to maria bartiromo about issue of a possible trade war. listen. >> as part of this potential deal, and i think we are going to get a deal over a period of time, yes, i think these barriers will come down on both sides and that's a key point for the president. he understands perfectly well that economies do better when trading barriers are reduced, rather than raised. the fothis doesn't work over a d

of time. >> i think he agrees with your sentiment when it comes to this. >> speaking economically, tariffs for any country is silly. it's basically a tax and it's a tax on the citizens of your people. we all like to get in goods for as minimal cost as possible. trump always argues this, cheryl, from a jobs perspective. trade is not about protecting jobs or increasing jobs because you tend to favor one industry or one sector. what it is about increasing everyone's wealth. that's why zero tariffs or minimal tariffs like a hong kong has really is economically the best spot to be in. i understand what trump's talking. he keeps starting to talk about the intellectual property theft. i'm not sure you can fight that with a tariff war but he's trying. maybe the tariffs change and maybe we're actually in a better

place. that's why i'm not so far that worried. the market aside keeps going up and down like crazy. i think that presents buying opportunities. >> these are proposals and there is going to be a comment period next month for companies to have their say and i'm sure that they will on this. gary b. smith, great to have you on this morning. great to see you, sir. >> thanks, cheryl. coming up, the tariff tantrum continues as the trump administration threatens $100 billion in new tariffs. we ask an economist how that can affect the u.s. economy. and futures sinking initially on news that the trump administration is considering these new tariffs. but guess what? we've had loss as we await the march jobs report. the dow futures are down 187. that pales in comparison to 407. >> i feel better with only down 186. i do. [fbi agent] you're a brave man, mr. stevens.

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we continue to follow the breaking news overnight. president trump threatening to slap $100 billion in tariffs on chinese goods. china says it's going to retaliate at, quote, any cost. u.s. economist a at mizuhou securities is here. you say it's part of the deal marking process. >> it is in the deal making process. the key market to look at is the currency market. if there will be a near term effect from this negotiate process taking place in the public forum, as opposed to behind closed doors where they typically take place, you'll feel it reflected in the currency. a weak currency will drive up

inflation. if you want to see where this is going to start and if it's going to start to have an effect, watch the currency. one of the best ways to do that is a trade weighted dollar index. >> we have global currencies against the u.s. dollar right now, it's a mixed picture. let's move on to what could be a saving grace for us this morning and that is the jobs report for the month of march. the expectation is 193,000 jobs created, unemployment rate at 4%. we got a nice surprise last month. what are you looking for this morning and could that be good news for investors? >> i think last month's number was well outside the range of what it should have been on a long-term trajectory. we've been averaging about 190,000 jobs produced over the last 12 months on an ongoing moving average basis. and i think we're likely to come back more into that. whether there's a correction to the downside or whether there's some revisions to the prior

month's number, i'm not sure, as a combination with this, but i think the numbers will be lower. but still fairly good. you know, 175, 190,000, is still a pretty healthy number at this stage in the business cycle. >> what about the unemployment -- i'm sorry, the par participation rate -- participation rate. do you think we're going in the right direction when it comes to labor participation? >> i think we've changed at all in terms of labor parties parti. that's one of the key things that will help over time hold the unemployment rate from going dramatically lower. that's one of the key issues we're watching this morning as well as the hourly earnings number that comes off the backdrop of this number. >> any other things we should be looking out for today in your opinion as we see the futures selloff that we're witnessing right now. >> the hourly earnings number, 0.1 versus 0.2. it's one-tenth of a difference,

it's important in terms of the market psychology. watch the currency. if the dollar drifts dramatically lower, that's a problem. >> that's a good point about the overall economic effect of the dollar. thank you very much for joining us. appreciate it. >> my pleasure. coming up, international reaction. we're going to go live to london to see how the global markets are reacting to the new $100 billion tariff plan by the trump administration. dow futures are down 186 points and nasdaq futures are down 47. we'll be right back. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com

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♪ everything is working, just like it should ♪ china says it will fight back at any cost in response to president trump's new threat of $100 billion in tariffs. neil wilson is a senior market analyst. you say this is not the beginning of a trade war. explain. >> well, that's right. i think this is -- it has the hallmarks of donald trump's negotiating approach. i think he's laying down the worst case scenario and really pushing these tariffs on the chinese and it looks like it's part of a negotiation process, trying to extract some concessions from the chinese, trying to in particular on i thinintellectual property. i think what we're seeing in the markets probably is an over-reaction to some of the news that's come out. i mean, i think since sort of

the end of january, since that first selloff, markets have been a little bit jittery and any excuse to sell off has been jumped on. but nonetheless, i think these trade war concerns are at the moment probably more of a tail risk, it's not really the base scenario at the moment. >> we are seeing futures for u.s. markets selling off and european markets are under pressure so there is that. the e.c.b. has washe warned thae war fears are raising borrowing costs we're talking about a higher interest rate environment globally this year. are you concerned about the overall impact that this is going to have? interest rates going higher and a possible trade war. >> well, clearly we're seeing tightening from the u.s. fed and the e.c.b. is looking in that direction. it makes me laugh when the e.u. starts wading in around preyed e

and protectionism as it's one of the most protectionist blocks out there with the brexit negotiations happening as we speak. i think the e.u. is not blemish-free on this front. their comments need to be taken with a pinch of salt. i think clearly the e.c.b. and maybe others i others in otherse concerned they'll get swept up in the trade war between the u.s. and china. the germany economy could be on the hook for some pretty big hits because they make their cars in the u.s. and export them to china. so there's certainly the sense that the e.u. will see firms, companies that get swept up in this that it doesn't want to see. >> thank you, neil. >> thank you. we send it over to maria bartiromo -- why do i always do that to you, maria? i spend every day with you. you know i love you. >> maria: right back at you.

happy friday. i'm maria bartiromo. it is friday, april 6th. your top stories right now. $100 billion, president trump proposing a massive amount of additional tariffs on imports coming from china. the escalation would triple the number of goods facing charges. futures are lower this morning on this news as the president reacts to china's reaction. china is vowing to fight the move at any cost. chairman of the white house economic council, larry kudlow, told me they're the ones to blame for the current situation. >> we've got these unfair trading practices. by the way, in wtoers terms many of them are illegal trading practices. you know the list, it's stealing technology or transferring technology, stealing our intellectual property rights. they have high tariffs. they have barriers. there's not near enough market access for foreign countries like the usa. >> maria: investors were able to

shake off the fears yesterday with all the major indices closing higher. today, not so much. the tensions over trade come as america gets back to work. the march jobs report is set to be released this morning at 8:3. economists are looking for job growth of 193,000 last month with the unemployment rate edging lower, down to 4%. in europe this morning, stocks are lower, taking a cue from the u.s. the ft100 is down a fraction. the dax index is down 1/2 of a percent in germany. in asia overnight mixed performances, markets in china were closed for a holiday. hang seng index up better than 1%. south korea's president is now behind bars. the hefty prison sentence she was just handed following corruption charges. and then text outrage, newly discovered messages between fbi lawyer lisa page and demoted fbi official peter strobin peter stk