caravans coming over the border through mexico, he did try to slap tariffs of 5% on mexico and he cited this law. whether he can actually use it this way, who knows. it does seem like it s more of a negotiating tactic, but what makes the market nervous and wonder what other things the president might be willing to do if he gets more and more enmeshed in this fight with china. josh, were you implying that since this was coming from donald trump that it was somehow baked into the cake that the dow only fell 600 points? it might have fallen more precipitously with another president making these claims? i think so. i spent a lot of time covering president obama. if he just came out on the white house lawn one day and said he thought the federal reserve chair was the worst enemy of the united states than the president of china, i think the market would have dropped like 10 or 15%. but we re so used to this tumult