points, still trying to claw back some of those losses. you can look at the cbo s own estimate that the imposed tariffs are shaving .3% off gdp through the year 2020. that s an increase from their previous estimate now that trump has raised tariffs even further, perhaps that number will go even higher. then i think what s most important for the average american is the impact on jobs. look at what s going on in the manufacturing sector, hiring in manufacturing has slowed down significantly. the sector s add something like 8,000 jobs on average so far this year. last year it was adding 22,000 jobs a month. so that is something that i think this white house is going to be watching very closely. if anything goes awry in the job market, if anything goes awry in the economy, as kristen mentioned earlier, that could threaten what happens in 2020. i m just looking at at theline on cnbc, stocks turning negative, dow erasing 25 points as wall street month stores the u.s./china trade war. so yo
veered back and forth leaving much of the world with geopolitical whiplash. let s dig deep we are nbc white house correspondent kristen welker, bill crystal, founding director of founding democracy together and elan mu we. what are your hearing from your sources, is there any concern at all from the staff or his campaign that these mixed messages on the trade war generally are having serious consequences for the economy that then will have consequences for the campaign? that s the big concern everyone has their eye on the economy, there s no doubt about that. what they continue to point to, chris, at the white house is the fact that, look, there are trade talks that are supposed to happen in september. those talks haven t been canceled. now, president trump really leaned into the idea during the g7 summit that, yes, there was going to be some type of movement. the reality is that there s no indication that the two sides are any closer together. but, again, significant that the trade
no. no. it s a totally you pay a price for it in the economy here, you pay a price for it on foreign policy. foreign leaders look at this and look at it and go oh, my god, there s no strategy, they ll try make it work because the u.s. is such an important player in the world system for now, maybe we can make it work for another year and sort of navigate around trump s decisiozigs and zags. i think that s why diplomatic people are so horrified on the notion. one thing he doesn t zig zag on, vladimir putin. very consistent. the one thing he never changes his mind about is he wants putin there, he wants to be nice to putin. he doesn t want to blame putin for invading ukraine and so sfor forth. so let me go back to what he said about that at the g7 in exchange between the president and the pbs news correspondent.
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canceled yet in september. but you raise the issue of the economy. this is the biggest concern for the administration for president trump, because he knows that his re-election is largely tied to the economy and the state of the economy. and we all saw sort of how volatile it was when he impossed a new rouimposed a new round ofs on wall street. whiplash on wall street. exactly. he doesn t hesitate to weigh in on what he sees. so the president was asked about the conflicting statements that he s had at the g7. here s one of those exchanges. what is the big thing it comes from is the back and forth and the changing of statements from yourself so that sorry. it s the way i negotiate. is that a strategy? is it a strategy to call president xi an enemy one day and then say that yeah. relations very the good next day it s the way i negotiate. it s done very well for me over the years and it s doing even better for the country. bill, is this really a negotiating s