let me be clear, these tariffs are totally unacceptable. for 150 years, canada has been the united states s most steadfast ally. if they move forward with tariffs on trade in aluminum and steel, not only are they putting a threat on canadian workers and canadian industry they ll hurt american workers as well. eric: that is canadian prime minister justin trudeau. canada imposing new measures on its own today targeting 12.6 billion dollars worth of goods from us. congressman jim renacci joins us, he is in cleveland and congressman, before you were elected you were a successful businessman and accountant. how far do you think this tit-for-tat trade war could go?
absolutely. why? i believe he knows what he s doing. i believe he can turn everything around for us. welcome back to kasie dc that was nbc s vaughn hillyard talking to trump supporters across the country who work in different industries that have been directly affected by tariff policy. today marks the first day the candidate s multibillion tariffs go into response in response to president trump s tariffs on canadian steel and aluminum. $12.6 billion including ketchup, whiskey, maple syrup, mattresses, toilet paper, lawnmowers and playing cards. geez. john harwood, it seems as though at least from a lot of the people vaughn hillyard talked to people are willing to believe this is the right course, even when they re being hit at home? some people will be willing to do that. but the proof of the policy is going to come in the effect on the economy. and pretty much all economists across the board, including in the white house think this is
implementing billions of dollars worth of retaliatory tariffs on the united states. the tariffs are worth about $12.6 billion and they come in response to the trump administration s steel and aluminum tariffs. a lengthy list of u.s. goods including chocolate, beef, yogurt, lawn mowers and whiskey will be subject to a 10% or 25% tax. in the words of canada s foreign minister, quote, we will not escalate and we will not back down on a dollar-for-dollar response on this. china meanwhile is set later this week to impose a tough 25% tariff on u.s. soybeans in addition to raising pork duties as part of its own retaliatory tariffs on hundreds of american products worth $34 billion. meanwhile, general motors says if the trump administration imposes its threatened tariffs on car imports it may be forced to cut american jobs, wages and investment. in the financial times reports that the eu has plans to impose up to $300 billion worth of
old. no way they could smug tell shoes. tariffs worth $12.6 billion in response to trump administration s steel and aluminum tariffs. a lengthy list of u.s. goods including chocolate, beef, whiskey now will be subject to 10% or 20% tax. in the words of canada s foreign minister quote, we ll not escalate and not back down on the dollar for dollar response. china is set later this week to impose a tough 25% tariff on u.s. soybeans in addition to rising pork duties on its own retaliatory tariffs on american products. harley-davidson moving production. there s that. general motors says if the trump administration imposes its threatened tariffs on car imports, it may be forced to cut american jobs, wages and investment. this is going well.
they ve beaten our competition from intel. intel really only makes chips for computers. samsung makes them for computers, mobile devices and smart cars. they made $54 billion ref knew over the most recent quarter, around a quarter of that came from its chip industry. and then we saw about $12.6 billion in profits, record profit for the company over that period. impressive numbers. now the interesting story we ve been looking at of course is how people are watching tv. this really matters for businesses like samsung. the old fashion tv set is something people are using less and les it seems. we ve all been using mobile phones, laptops, tablets. new numbers coming out from the u.s. government agency administration and they ve shown between 2009 and 2015, average household tv set numbers have dropped from 2.6 to 2.3. there s also a tiny minority of people who have no tvs in their entire house hold.