president donald trump announced plans to impose punitive tariffs on imports a to the us europe canada brazil and japan of all threatened economic reprisals the situation the international monetary fund as would be disastrous for the world economy that hasn't stopped the president from ramping up his rhetoric. it is donald against the world at a meeting with u.s. steel companies in the white house the president stood by his threat next week he will impose punitive tariffs on imported steel and propping up his own industry. very unfairly treated by policy. trade deals by other countries they've been horribly treated by trees and this is yet another war trump is confident of winning he defended the tariff citing national security. european union leaders were bemused and angry at the move you can't treat as as a. threat to national security when we are allies we cooperate in nato and the problem on the steed is related to over production in other countries than in the e.u. . europe has no worried that cheap chinese steel will no longer be sold to the u.s. but could increasingly flood the europea

what would happen if countries like canada, brazil, south korea, europe, russia retaliated against ussome digging. here are the widely exported u.s. products. canada gets its delivery trucks, cars and vehicles parts from the u.s. brazil's biggest import, petroleum but it also really loves medical instruments from the u.s. and our. [inaudible] south korea, addicted to our integrated circuits, corn and photo lab equipment. russia's biggest imports from the u.s., construction vehicles car parts and soybeans. to the floor show, guys of these countries do them choose to boycott our goods, how long will an effect will it have and how do you invest around that? tim anderson, can i quickly say we are well off a low of the session, down 114 points for the dow. we've got a big weather system in new york. is it possible a lot of traders left? it on the 20 people behind you. >> clouds as average attendance for friday afternoon. people are going to be hitting some rain when they leave. i haven't noticed the big exodus. >> let's get to the cost of the chairs and the ripple effect. >> if you're talk

canada and mexico would be exempt from the tariffs. the ambassador, when i asked him about it, gave us new information that europe, australia, brazil, argentinasouth korea would also be exempt. i bring this up only, mr. chairman, to note that you and i have felt so strongly, and our colleagues, on a bipartisan basis that real consultation means that we have got to get information so as to be able to do vigorous oversight, and that means getting it certainly well in advance of this morning and 12 hours before the tariffs go into effect. i only make that point because i want to work with you on improving consultation. second point, mr. chairman, i want to direct to the ambassador. ambassador, you're a veteran of the finance committee. and you know that folks here have real differences of opinion. we have pretty spirited debates. i do want to tell you to describe a member of the committee's position, as was the case with senator cantwell, as nonsense is unacceptable to me and i just believe beneath you. so i hope you'll keep that in mind when you next appear before the committee. >> i guess what i was saying is that i disagree with that problem,