first we start with the big story of the day the trade war rearing its ugly head again let's go to amon javers in dc for this developing story. >> got scott, 5:00 on friday i'm calling it i don't think we are getting chinese tariffs this week. that has been the story line of the week just speculation about whether or not the president was going to process pull the trailer on the $200 billion in chinese tariffs the u.s. trade representatives office has been working on the past several months nothing has of yet and nothing expected today so the white house putting out sort of a maddeningly vague statement about all this, saying the president has been clear that he and hits administration will continue to take action to address china's unfair trade practices. we encourage china to address the longstanding concerns raised by the united states the white house not specifying at all what action it is that the president is going to take or not take. but saying that he is going to continue to take it, whatever it may be leaving us at a little bit of loose ends at the end of the week here is how we got

let's go to amon javers in d.c. for the details. >> the administration braufdly defending the president's approach in terms of tariffs on china he announce the last night 237 which will burst ross was on cnbc earlier and said he believes the united states has the upper hand in the e-negotiation. here is what he said. >> china doesn't have enough imports from us to make a respectle tax. they are out of bullets. >> at a press frps conference later in the kay in the east room at the white house, the president talked about his approach broadly to this trade issue. he said ultimately the american public has been paying the price for what he framed as decades of mismanagement by american politicians and american presidents preceding him here is what he said. >> we are the piggy bank to the world. we have been ripped off by china. we've been ripped by, excuse me, mr. president, the european union, of which you're a part of wove been ripped off by everybody. and i want to protect the american worker, the american farmer, th

first we start with the big story of the day the trade war rearing its ugly head again let's go to amon javers

amon javers, keep us posted if you hear anything else. >>> i guess we'll leave our earlier segment, ioing to ask ron insana another question, but i guess he'll come back. >> i live about a block away just call him. >>> to the other ron and sean, we thank you, as well. >>> here's what's coming up, sec sues elon musk and the fallout means he never runs another public company how strong is the case we'll talk about that. >>> as trade tensions ramp up, the surprising moves china is taking to take the sting out of profits. >>> health care stocks got their strength back this quarter will the rally last and how do iu playt? talk about all these topics and more when "power lunch" returns. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ >>> take a check on the markets, dow up by 28 points and s&p higher by just under a