much more worldwide exchange coming up worldwide exchange coming up after when the temperature drops.'ve got two choices. close your eyes and think warm thoughts. or open your eyes and get out here. there's only one vehicle lineup that embraces everything the cold has to offer. the official vehicles of winter. jeep, there's only one. right now, during the jeep start something new sales event, get $3,500 dollars total bonus cash allowance on most 2024 jeep wrangler gas-powered models. hurry in today. remarkable with unexpected moments of. inspiration around every corner. >> and through every window. quiet mornings. >> in the sun. >> with portals. >> to new worlds and fine dining with a view. your window treatments should be as inspiring as your home and the remarkable routine of your. >> daily life. three day blinds. >> so are you. guys still thinking about going to italy? >> yeah. >> just booked a flight. >> oh, great. >> you guys. >> are gonna. >> love it. >> we went last year, and it was just so beautiful. frank? >> frank! >> you okay? bud? >> this is the best steak i've ever had. r

. >> worldwide exchange of goods and commodities, has proven to be a great. >> success story that has created prosperity for us all. in the uk and germany, in the usa, but also in many other parts of the world. that's why it's important that we don't divide up the world now with a lot of customs barriers, but that we also make this exchange of goods and services possible for the future. global markets are reacting to the potential trade war. already, markets in europe have tumbled. look at that. just in the first hour of trade. for more on reactions in china, we'll go now to cnn's marc stewart in beijing. because obviously, a lot of eyes on china here, the impact that will be there. but every country is now questioning whether they're going to be in a trade war with america. >> well, let's just look at the markets for a moment. here in asia, two of the biggest indexes, the nikkei in japan and the kospi in south korea, they saw declines of more than 2% at the final close today. that is a big number when you look at asian markets. and if markets are a reflection of how people are feelin

. >> let's bring out the anchor of cnbc's worldwide exchange, frank holland. frank, comparing the tariffs first term to second term are dramatically different. and as axios jim and mike allen's newsletter reports this morning, this year we're going primarily against our allies and some of our closest trading allies, canada and mexico. >> yeah. >> good morning to both of you. >> not only. >> are some of our closest the two biggest trade partners for the us. i want to get to the market reaction first. we're seeing the major indices down more than 1% in the premarket right now. we had a number of money managers on the show and other people who, you know, represent business. i think the one where we continue to hear was uncertainty. a big reason for stocks trading lower right now is the uncertainty. what happens next? will it be retaliation? we know that canada and mexico are planning some retaliation. we also know the president plans to speak to the leaders of those countries later today. a big question is will there be retaliatory tariffs coming from china? and

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