everyone gets back to work. thank you. thank you. as the impeachment hearings move this week to the judiciary committee you can watch it all live here on cnn. this begins wednesday morning starting at 10:00 a.m. china retaliating after the u.s. backs pro-democracy protesters in hong kong. the latest on the rising tension and the potential impact on trade talks. the holidays are here and so is t-mobile s newest, most powerful signal. and we want to keep you connected to those you love, with the new iphone 11. so t-mobile is giving you an iphone 11 on us for each new line of unlimited. for yourself, or up to a family of four. keep your family connected, and hurry into t-mobile today, to get up to four iphone 11 s on us. only at t-mobile.
offended that china would retaliate with its tariffs on $75 billion of u.s. goods going into china after he announced that tariffs were going to go into place on some $300 billion of chinese goods coming into the united states effective september 1, for him to be outraged really shows arrogance or lack of understanding of what happens in a trade war. i mean, you can t keep lobing shots at the other side and not expect the other side to retaliate at some point. it s in the interest of both sides to get a deal. this president, i think he loves trade wars. he thinks it s costing china. it s really costing the american consumers, american businesses and with china retaliating, with tariffs on u.s.-made automobiles. 25% of the bmws made in south carolina are exported to china. we build and ship over to china
every day. thank god because that s what helps them do the work that we do. but his references to things like a nonstandard relationship with the fbi and certainly the fact he was told to engage in a romantic relationship with a suspected russian intelligence agent, that is simply not the sort of thing that the fbi does. andrew mccabe, great to have you here at cnn. thanks so much for all the information today. we ve got breaking news, u.s. stock futures are down sharply ahead of the open on news china retaliating on u.s. tariffs on imports. feels like i m taking flight. [sfx: poof] [sfx: squeaking eraser sound effect.] i am who i wanna be who i wanna be who i wanna be. i m a strong individual feeling that power i m so original, ya sing it louder. i am, oooh oooh oooh oooh ehhh ehhh ehhh ehhh
it sounds like the president is ordering american companies to find alternatives to china? reporter: the president says i hereby order american companies find alternatives to china. the question becomes by what authority? we put that question to a number of white house officials so far they haven t given us any guidance. we asked about the other part of the tweet in which the president is threatening retaliatory action against china. remember where we started this conversation earlier with china retaliating against the u.s., slapping tariffs on $75 billion worth of u.s. goods. now it appears as though the president is poised to take some type of counter measure but officials not clear what that s about either. bottom line, a lot of the officials here, a few of them at least, are still processing the tweets, trying to figure out exactly what the president is
embargo are u.s. businesses and global aid. markets trying to find their footing. a flare-up in the trade war between the u.s. and china dragging down stock prices around the world. the dau closed down 767 the worst day of the year and sixth worst point drop. the s&p 500 down nearly 300%. the nasdaq down 3.5%, the worst since october last year. what happened? china retaliating against the latest round of trump tariffs. china devalues the yuan in a decade. it risks starting what is known as a currency war. the american called that a body blow for those already hit by the trade war. soy beans are sitting in storage in record levels. delinquencies on agriculture