and we're back with course to on wall street now again what is wall street expecting now with regard to future rate cuts or jerome paul as expected stood not to mention that we are going to see another interest rate cut anytime soon he said that he's going to he and his fellow. members of the federal reserve are going to close the observe the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next fed meeting mid september and chances for another rate cut in october stand more than 70 percent so wall street is convinced the world see those rate cuts and that actually the market a little bit before we've got the storm from a u.s. president donald trump. card to there with us on wall street thank you very much. and returning to the topic of tariffs at this time from the us on french wine wine is francaise 2nd biggest export the us is by far its biggest market and last year it important it 3600000000 dollars worth of the stuff washington has threatened to flop flop he would le

and we're back with course to on wall street now again what is wall street expecting now with regard to future rate cuts jerome paul as expected stood not to mention that we are going to see another interest rate cut anytime soon you said that he's going to he and his fellow. members of the federal reserve are going to close the observed the developments and then act accordingly but the bets on wall street are crystal clear investors here see 100 percent chance that we will see another rate cut at the next meeting mid september and chances for another rate cut in october stand more than 70 percent of wall street is convinced the world see those rate cuts and they've actually calmed the market a little bit before we got this storm from a u.s. president donald trump. card to they're with us on wall street thank you very much . and returning to the topic of tariffs at this time from the us on french wine wine is france's 2nd biggest export the us is by far its biggest market and last year it imported 3600000000 dollars worth of the stuff washington has threatened to flop flop he would l

price when over became public here on wall street by early may investors riding a hopeful wave thank you very much chance carter there in new york for us at the end of october britain is set to leave the european union with or without a formal departure arrangement with the e.u. a so-called new deal brags it would cause major disruptions to travel in trade causing food shortages and raising food prices by as much as 10 percent here its largest part producer has said supermarkets could struggle to stock their shops. in normal times britain is since pigs would end up on british dinner plates danish heritage produced beacon beloved by brits but these are abnormal times the growing chances of a new deal breaks it has left utopian farmers like her fearing for their futures. i am a little brothers but. we have had 3 years to after this so i think we have well we have made a very special product for them for the u.k. market i think it will be embarrassed if. it cannot sell it for english millennium anymore. at the danish crime processing plant they're preparing meat for the global market th

let's see what samira hussain said from wall street.clear investors here on wall street were spooked by china's move to devalue its currency. us financial markets had its worst day in all of 2019. investors interpreted the move as an escalation of the trade war tween the united states and china. that said, the dramatic response by investors could also be explained by other things that are happening within the us economy. trade tensions have exacerbated the concern over weakening corporate profits for all of 2019. it has exacerbated the fed not taking an aggressive enough approach. and then now, with additional tariffs being thrown on by the us and then the chinese responding with the weakening of their currency, i think all of that together has caused investors to say i'm going to sell first and ask questions later. so what now? it's possible us financial markets may experience a p0p: financial markets may experience a pop, something that can sometimes happen after these kinds of dramatic falls. but it's also possible we may see even fu

numbers with a grain of salt but wall street is taking what it can get stay where you are young because there's more market moving use to chat about and ride healing service has set a record but probably not the kind it wants it posted a loss of $5200000000.00 for the 2nd quarter its deepest reported so far as a revenue rose of 14 percent on the year to $3100000000.00 its lowest quarterly growth rate the company has struggled to overtake concerns it would ever make money and it's back to yes quarter on wall street yes are you there we should see you in just i mean i meant but hello yes how are investors reacting to those numbers from hooper they're not great are they well i mean ober is facing a couple of battle it's all over the glade with regulators with competitors with drivers and those numbers clearly were worse than expected in an initial reaction and after all we're trading the stock dropped by as much as 10 percent that then after a c.e.o. spoke and was kind of upbeat that at some point he's convinced over might become profitable we did see some of the losses narrowing down a bi

wall street indexes. after positive retail figures take the edge off a steady stream of bad news so as the global recession called off not quite. and is the farm coming to the big city we'll take you to a growing operation in the big apple. this is your business report. i'm stephen beers in berlin thanks for joining us another day on wall street another volatile session markets ultimately ending in positive territory today after solid u.s. retail numbers suggest that american consumption remains strong and that followed the worst day of the year for stocks with both the dow and nasdaq losing 3 percent wednesday on new recession worries the ups and downs of the markets are not going unnoticed u.s. government is now trying to call investor jitters. here on wall street traders cheered retail giant wal-mart strong quarterly earnings the figures columns nerves on the floor they show us consumer demand is strong despite the trade war with china the trumpet ministration lost no time issuing the statement assurin

but according to recent articles, wall street is finally addressing its culture of sexual harassmentng from degenerates to "digentlemen"? this is really exciting. you covered a story that i'm thinking about ripping off as my own story about how the culture is really shifting on wall street and how men are actually changing their actions when it comes to #metoo. - that's right. they are changing their actions when it comes to #metoo, but not in a way that benefits women. - oh, okay. sorry. i-i didn't really read it. i'm busy. - and in fact, it's--it's quite the opposite. #metoo seems to be having a backlash on wall street where men seem to think that they should stop interacting with the women that they work with. - what? - and we actually spoke with some men who were rethinking about ever even hiring a woman again. and we talked to this one man who said that he doesn't have dinner with women under 35 anymore. - that's the stupidest shit i've ever heard. what are they afraid of? - there seems to be an actual paranoia that some women will make up a false accusation against them that co

but wall street knows just how ignorant donald trump is. wall street has always known that. they know that better than most of america, and wall street knows that there is not a single responsible adult in the trump administration who when the situation calls for it can get on his knees and pray to nancy pelosi. wall street knows that there is not a single responsible adult in the trump administration who has any idea what to pray for, who has any idea what to do, what action to take, and wall street knows that there is not a single person in the trump administration with the courage to bring this president bad news. and so no one will ever walk into the trump oval office and say what george w. bush could say in a moment of crisis in the american economy. "this sucker could go down." leading off our discussion tonight, gene sperling, former director of the national economic council for presidents obama and clinton. he is who i pray to when i am looking for a solution to american economic issues. and ron klain, former senior aide to vice president joe biden and president obam

wall street clearly wanted more and wall street still has a haoblem with the communication of the fedhe fed is really trying to identify as the thing that it will really anchor policy going arward. know inflation is incredibly low. we know e the globanomy is not doing well. we know the u.s. economy is doing rather were. so people very, very uncertain as to what the fed's intentions and what is leading the fed going forward from here. >> michael, does this change anything about your view of the stock market, whether or not they -- the market is expecting another rate cut -- >> yeah, i mean, look, today wat the time that a central bank has cut interest rates since lman brothers went under. .n fact, brazil just cut rates, so 729 n the markets are up massively since then. the markets love interest rate cuts. the markets are addictedo liquidity. so i think that, you know, part of the reason, you know, been very bullish this year is we've seen a pot by the central banks, everyone has been arish. expectations that the global economy will find a trough. i think it tempers the upskee for m in

all the chatter on wall street on a possible cooling of the u.s. economy and all those tweets from u.s. president donald trump obviously have not reached the vast majority of u.s. consumers even if you look and to detail mostly discount chains to doing good and there is an interesting trend just recently here in the united states that the top earners on wall street that the super rich they actually start. spend a little less so maybe that's a sign that at least part of the country are aware or are a bit skeptical skeptical if the economic growth that we see can still be continued and what we also shouldn't forget as those figures published for the 2nd quarter meaning ending june 30th sold the latest round of tariffs that the u.s. president donald trump was talking about in july are not actually part of this report that we got here on thursday now speaking of the trade war there seems to be a new twist to it every day now china sounded hopeful in negotiations. well at least china was hinting that they will not start increasing the tariffs coming thi

why does m wall street hore confidenceness what's going on right now than down the road. >>ee we'ing concerns that sgroj in theat united st grow and it's been more interest ekt asked and u.s. depend more and more on abroad and multi-nationals and talker names are heavily exposed to abroad investors are ket geceing coned maybe u.s. is not immune red they' putting money to riskts free asse. >> are there trade policies in the united swtes involved in no that wall street doesn't like. obviously we have been talking a lot about china and obviouslyhere's uncertainty in europeight now about how l turn out is this a globalio rean or is there something t here he united states particularly to us that is csing this. >> wit what you have are a number of different things you talked about hong kong and that's -- nobody knows how it plays out. this is important weigh station between east and west and capitalism and china ayou h. i think trade thoug the concern we've been hearing fromec businesutives is not so much we don't like ravives it's that may be true and it's becoming more predic

elements of wall street, elements of global policy.elson rockefeller became the vice president while david rockefeller was running chase, which at the time was a major bank. it was a major power player at chase. but david rockefeller during his time as he was rising to become the chairman of chase, was also working more outwardly with other foreign policy initiatives. more closely with the middle east and finding ways for middle east money. money that was made out of oil to be used as currency, as collateral for loans that chase could make to latin america or other developing countries and make money off of that. therefore a very symbiotic relationship and influence chain. they threw him, had this ability to access moneycoming from an external place . and linda to another external placement that way to take themselves into a position where they could control what the government was doing as opposed to having to be a team player. because they had this extra pot of money coming from somewhere else. he was also an advocate of going off th

. >> stocks skid, aave of selling hits wall street w00t as investors concern the trade troublesheill slow global economy. >> banks fall. the sector retr yts aslds fall. that could cut into the profits of an industry that isns ered an engine of the economy. at dazed and confused. the intense vity is putting focus on the outlook for earnings and it isn't those stories m ande tonight on "nightly business report" for this monday, august 12th. a >> we do bid you a good evening and welcome. here we go again. stocks plunged today to start what may be a another volatile week for ihe markets. ue once again is the future of the u.s. economy. and given how stocks have been trading around the world lately, investors appear to more ncerned that the trade war between the united states and china will linger for a while, further damaging the global economy. all of that fueled another rally into the safety of treasury bonds, sending some yields to multiyear lows which some analysts say could be signaling a comingrecessio one strategist today went so far as to say that the wall street bear isnd alive

liz, i will worry about the "wall street journal" when the main street journal starts criticizing me the manufacturing. we are over half a million manufacturing jobs in this administration created, over six million new jobs, compared to the last administration, they lost 200,000 manufacturing jobs. we're on track -- let's talk about james bullard because i think james bullard is probably my best witness against the "wall street journal." he indicated that we have a sound economy, that we have a good outlook moving forward. he also in my judgment, listening to him carefully between the lines, virtually guaranteed a rate cut -- liz: not 50 basis points, though. he wouldn't go that far. >> he was noncommittal about that. he was very careful to say that he didn't want to get ahead of the other governors on the board. the one thing that i think was interesting, though, when he was talking about a flight to safety, one of the things i think that the federal reserve needs to acknowledge is this dynamic. when you have u.s. interest rates several hundred basis points above europe, what we're

the plunge on wall street. stocks in a free fall today. the dow falling nearly 3%, closing down 760 points. the worst day this year. abc's rebecca jarvis is live on wall street for us tonight. rebecca, a big move fr, china labeled as a currency manipulate toy tonight. >> reporter: that's right, david. consider this a major escalation. the big question on wall street tonight is how much longer this game of chicken lasts. u.s. businesses acknowledge they would like to see a more even playing field with china, but this latest round of tariffs means consumers here in the united states, as well as businesses will be paying a higher price for everything from toys to clothes to shoes to phones to computers, david. >> and rebecca, so much of this trade war and this tension with china is what's leading to this uneasiness on wall street. any sign that's going to ease any time soon? >> reporter: no, absolutely not, david. the volatility looks like it will continue here on wall street and around the globe as far as stocks are concerned, david. >> rebe

for more on the story let's bring in our financial correspondent dan scored on wall street there was this massive sell off amid donald trump's twitter town from over china on friday it seems the storm clouds have passed for now what are we to read them into the market a rebel. well i mean at least and there has been some relief here on wall street that we covered a little less than half of the losses that we saw on friday still if you talk to traders here on wall street they would love to see the twitter account of the president being blocked because just one tweet and the entire mood here on wall street can change once again so most people believe that a deal still might be far away but at least for now there was a little bit of relief even if you look at the companies of the stocks that did not do too great year on monday those were stocks of companies that would potentially suffer if the trade for further escalates not yet this trade just good has been going on for over a year now what is the best possible outcome at this point oh well i mean. what i'm hearing mostly is a truce al

is dead averse germany about to borrow to stimulate its economy wall street thinks so and it ended a wild week with the gains but don't count out the market pessimism we'll talk to our correspondent. and one of germany's best known brands turns 70 show you what a long profitable journey it's been for us. this is your business report i'm stephen beers in berlin thanks for joining us stocks on wall street climbs friday as investors look to end a turbulent week on a positive note the dow jones industrial average ending the day up by just over one percent report that germany is open to an economic stimulus package helped bring buyers back to the market it appears the berlin government is willing to suspend its balanced budget rule and take on debt investors hope that europe's largest economy can steer itself away from recession. and let's go now to our financial correspondent in new york jose luis to horo was a good to see there so say everyone everyone's watching germany here why is everyone watching germany why are investors so interested in german fiscal policy. well stephen as you me

well for now we mostly saw busy some relief on wall street then that was basically true for all the chip semiconductor companies that are doing quite some business with you always the chip stocks for example being among the biggest winners but then we also had this dinner friday night between pull. coke and us president donald trump and there to the current administration might think twice about implementing certain tariffs of would also hurt the business. overall we might see this scheme again so that the current administration creates a problem to eventually solve it and get some credit for it so this issue certainly is far from over but we got some more time and that was seen as a positive here on wall street a lot of behind the scenes maneuvering there but one way is doing its best to seem unfazed either way should it be unfazed. well i mean in the medium term your way might face some serious issue was at least for now they do depend on certain components pretty much from again the big u.s. semiconductor companies so it might be difficult for your way to continue with certain product

are concerned, david. >> rebecca jarvis live on wall street for us tonight. rebecca, thank you. >>> meantime, overseas tonight, north korea reportedly firing off a new round of projectiles. south korea's military reporting tonight that the north fired two unidentified projectiles into the east sea. that's the fourth launch in just two weeks. and this one, on the day that joint exercises between the u.s. and south korea started up. one american official tonight saying the u.s. is monitoring the situation and is consulting with our allies. >>> there is still much more ahead on "world news tonight" this monday. the emergency landing. smoke filling the cabin of a passenger plane. the images coming in tonight. >>> we also have news on two pilots arrested, accused of being too drunk to fly. that flight was headed to newark. the flight canceled. we'll have more on that. >>> and then, the pictures coming in this evening, the massive explosion at a military ammo dump overseas. the extraordinary images. a lot more news ahead tonight. we'll be right back. we'll be right

number two he made an exception when it occurred with wall street. number three he did not believe the way to address wall street was a regulation because like brandeis and others thought regulation always failed and never worked so he believed in breaking up concentrations of financial and political power. those of the three main points. born right before the civil war and had to quit at age 14 he read shakespeare the ancient poets like lincoln was self educated and very well-educated. he started to sell newspapers on the corner and then became a printer's assistant and a reporter for the paper than an editor that the editor when the owner wanted to sell it he arranged it so he could buy it. given the state that drafted very well a very successful businessman in the context of reconstruction devastated south. so he went into politics but there is only one party to join, the democratic party. he made his fame as a virginia senator coming up with a way to amend the constitution to deprive all blacks of the right to vote and that made him a hero to whi

joining us now as our correspondent on wall street yes quarter yes this sounds a bit like mixed messaging from the white house what are investors making of the repeated reprise on the one hand comments of a continued move away from wall way on the other hand. well for now we mostly saw some relief on wall street then that was basically true for all the chip semiconductor companies that are doing quite some business with you always saw chip stocks for example being among the biggest winners but then we also had this dinner friday night between pull. coke and us president donald trump and their 2 of the current administration might think twice about implementing certain terrorists would old saw heard the business overall we might see this scheme again so that the current administration creates a problem to eventually solve it and get some credit for it so this issue certainly is far from over but we got some more time and that was seen as a positive fear on wall street a lot of behind the scenes maneuvering there but one way is doing its best to seem unfazed either way should it be unfazed.

world it summarizes our global economy and i'm still all that i remember when i was working on wall street in argentina 1st went bankrupt in the eighty's you know and that was an exciting time you know wall of mortgage rates are near all time lows and yet sales of homes continue to decline. so are central banks pushing on a debt string at this point can lower rates help the debt saturated shrinking income consumer right so you know. having reached the end game you know the stimulus of lower interest rates like any heroin or coke addict or junkie financially run out of stimulus because you're dead so he at that point but in some markets especially on the west coast or in some markets in the east coast your prices are really high the low interest rates are secondary now yeah i mean you know when you pay $1700000.00 for a median house and meet you know houses in a small little rink you think auslan moreno. you know you have other problems because now you need to have some 100000 dollars in income to live in that kind of house and when you have that kind of income do you really want to live in

we watched wall street gin up a little business today, dow with worst important of the year, wall streetaking a beating and investors as well, putting it straight on tension between u.s. and an escalating trade war, do you agree? >> this is a massive over reacted, i think what happens you get day traders moving in you get trend trading and before you know it. there is a lot of volatility, and good people lost money today because they got shaken out of the market, underlying fundamentals are solid as a ro rock. moving forward we'll be fine. the big news on the currency front, is that important, to american people, when china for example devalues their currency by 10%. lou: let's stay on -- i know you are excited. we're talking about economics and policy, but let's turn to what we have known for some time, that is that china manipulating itself currency. previous administrations did not in anyway, it was obvious that china is manipulating its currency, they chose not to. president has taken that step at long last, when somewhere consequences will there be for china as a result of maybing t

territory the big driver overnight for europe is that of an interview that olly renn gave to the "wall street journal" saying a big bazooka is coming as early as september. that is giving a lift to fixed income and to bonds, the bank market let's take it out and talk about bourses. ftse 100 is opening with technical failure. xetra dax is up three quarters of a percentage point. the german index recovering some of the losses lost earlier in the week the germing inan index is downt 1% for the week. the ftse mib, having a positive start to the session but again, the action was in yields let's talk about what's going on there. starting with u.s. treasuries. the ten-year at 1.55 now another big rally yesterday about eight basis points or so interestingly enough despite the valley we've seen that twos and tens curve, we talked about it yesterday, marginally resteepened. it's back in positive territory. yields continue to be driven lower. talking about yields being driven lower, ten-year bund, new low today. minus 70 basis points is where we are now the latest catalyst again being that anticipation

. >> no recession ahead in spite of what wall street says president trump is confident in his economy. >> i don't think we're having a recession. we're doing tremendously well. our consumers are rich i gave a tremendous tax cut. and they're loaded up with money. >> lots of pro democracy demonstrators rally in hong kong as china condemnt increased glol attention. >> meet the superstar actress with a household name you ma not go government put her life at risk. >> riding high and inspiration to get disabilities back in the water. "early today" starts right now >> good monday morning i'm phillip mena >> and i'm dara brown. we begin with wild weather that has been sweeping across the country. dangerous storms tore through the midwest and northeast. at least nine people were injured after a lightning strike sent a tree crashing down on a tent for more on the latest round of severe weather here's nbc's kathy park >> reporter: bursts of lieening lit up parts of kansas while two hours away 80 mile per hour winds toppled trains dozens of railcars had to be turned up right with the help of y ch

thanks, guys. >>> now that the trade tensions have indeed escalated, wall street is expecting theeederaleseo take action and cut interest rates again, but just how many cuts does the street want? steve liesman takes a look. >> reporter: in the wake of the tariff t president and renewed worries about a currency war between the u.s. and china, markets are now more aggressive in pricing in the idea that the fed comes to the rescue anduts interest rates this year. the fed funds future market trading with a 74% probability that the fed cuts its overnight lending rat b 25 basis points in september. there's a 73% it does another 25 in december, and it is toying with the idea of january with a thd cut with a 48% probability. but is all of that too aggressive? st. louis fed president james hell la bullard makingirst comments from the fed since the trade war blew up again. he's not as sure about the direction of policy as the market is. he said, quote, rates are in the right neighborhood. he doesn't see a need for half a percentage point. he expects anoer cut bu said, quote, it is a losing game fo

really interesting report from the wall street journal yeah it's a shocking knowing that is the biggest e-commerce retailer and then you sort of assume well if there's a done larger retailer certainly the. appropriate authorities at the federal trade commission would be making sure that the products listed there are legal and safe but you said that not only are there also listing products that have been banned by amazon onto their own private label galleries as amazon choice yes yes you know that's exactly right you've got i mean on amazon's website they've got a list of all the things that are essentially banned in the wall street journal's reporters went in there and started looking at all these different items they found some that were banned by amazon themselves and yet we're still allowed to be on the web site so it is interesting that it's essentially what the wall street journal calls and enormous flea market and that nobody's really monitoring the flea market if you will that is just a bunch of people selling things and put them up for grabs and amazon sort of backpedaling a lit

wall street had the worst losses in a decade.eswar politics and fed led to a collection $5 billion in first half trading revenue at the world bank's. is this the first they are hearing of this or do they know this is going to be the case? hannah: this is not the first traders are hearing of trouble in trading. it was the worst first half in over a decade the banks reported a couple weeks ago. we have seen cuts across the industry. on one hand, we have less pay and on the other hand we have some losing jobs, which seems like the worst of the two. vonnie: a 10% or 15% drop in your bonus is not desirable but not the worst outcome. hannah: definitely. vonnie: they knew this was coming, volumes were down. chunk oft a huge change if trading was down so much. technically, banks could have reduced them further. hannah: the lower revenue has to be reflected in lower costs paired that was what the executives were talk -- cost. that is what the executives were talking about. they are reducing headcount and that can reduce the cost and keep

it is fatling danielle it was conducted by the wall street journal and the paper found that more than $4000.00 products for sale on amazon were reportedly mislabeled banned or declared unsafe by federal agencies the products named in the report include f.d.a. approved items that the agency never batted like medication without child safety warnings sleeping wedges for babies that have been banned toys with potential choking hazards and they illegally imported prescription drugs among many other items they even found more than $150.00 products that amazon itself had banned and many of the products were labeled. amazon choice so the bigger story here really is how amazon handles all these 3rd party sellers it's a massive network that has exploded on the scene over the years and really become too big for the company to moderate what's being sold so according to the newspapers report amazon uses a combination of people and machines to flag products but they just can't keep up sometimes the only way to know who is selling a product is to look for the text that it's sold by amazon dot com bu

less than a week later by "the wall street journal." now, as this story kept trickling out and kept outpacing their denials the nra got more and more wound up in the denials about the mansion. quote, not one dime of the nra's money was spent on this venture. okay. fine. but then the day after "the wall street journal" published the 70$,000 nra check for the mansion, we found out where the rest of the money to buy the mansion was slated to come from as well. quote, a top nra executive signed a document agreeing that the nra would be a 99% owner of a company formed to buy a $6 million dallas mansion for the nra ceo. that's according to a copy of the document reviewed by "the wall street journal." the document also shows the nra agreed to contribute $6.5 million to that company that was being formed to buy the property. quote, this raises yet more questions about the nra's previous statements that none of the nra's money was to be used to purchase the house for the mr. lapierre. now today inevitably, there's more. i mean, at this point it'

. >> this is "maria bartiromo's wall street". hello happy weekend welcome to the program that analyzes the week that was in position you for the week ahead. coming up in just a few moments my messy interview with the cofounder of home depot. along with nyu health ceo bob grossman. were talking healthcare in america and a lot more coming up. another solid month of gains for jobs, the u.s. economy added as expected 106 and 4000 jobs in the month of july. the n appointment rate held steady at 3.7%. a stellar performance for the month of july and joining me too react. equity strategist barry. >> gotta get re-your reaction to the federal reserve interest rates. let me start with the job numbers. what was your reaction to what we saw on friday? >> it was a good number. if you think about the use six or underemployment rate dropped to 7% below its 19 years. the number came in line with expectations the economy is strong. maria: the economy is strong and we are looking at the federal reserve lowering interest rate. there was some indicat

all the chatter on wall street on a possible cooling of the u.s. economy and all those tweets from u.s. president donald trump obviously have not reached the vast majority of u.s. consumers even if you look into detail mostly discount chains doing good and there is an interesting trend just recently here in the united states that the top earners on wall street that the super rich they actually start. spend a little less so maybe that is a sign that at least part of the country are where or are a bit skeptical skeptical if the economic growth that we see can still be continued and what we also shouldn't forget as those figures published for the 2nd quarter meaning ending june 30th sold the latest round of tariffs that the u.s. president donald trump was talking about in july are not actually part of this report that we got here on thursday now speaking of the trade war there seems to be a new twist to it every day now china sounded hopeful in negotiations. well at least china was hinting that they will not start increasing the terrorists coming this

it represents wall street. "the wall street journal" never saw an american job it didn't want to -- >> but let's talk about tariffs which has consumers concerned and businesses concerned. the president delayed some of those tariffs until after christmas, why would delaying tariffs help america consumers? >> i love this question, we have $300 billion worth of chinese exports that didn't have yet tariffs. what the president did was, he looked at that and as of september 1st, about half of that will be tariffed at 10%. now the other half, why didn't we tariff the other half? one of the things that the president does beautifully is engage with the business community, labor leaders and everyone in between. i was sitting in the oval office when a group of executives came in and told us this, martha, all the stuff they were going to have on their store shelves during the christmas holiday, already bought in dollar contract. it means that these people did not have any power to basically shift the burden back to china,