that s not going to have a material effect on us. arthel: meanwhile, president trump has targeted 1300 products coming in from china to tax. the taxes as you well know are not set to go into effect until may. will this escalate into a bonafide trade war or will negotiations ward it off? there will be negotiations. the real risk for the united states is not some sort of more friction. the real risk is that we declare victory, have a deal, and lead the under lying problems in china unsolved. we are going to have this problem going forward. i think that essentially i know markets don t like disruptions. and i can understand that. arthel: market didn t like the soft boiled mixed messages floating around either. the markets did recover on larry kudlow s comments yesterday to fox biz. and that is that is predict being. but the point is that there are structural problems in china. china is getting worse. we have got to do something. because we need a sustainable trading rich. we can