a very good friday morning to you. i m jim sciutto in washington. poppy harlow is off today. we are following breaking news this morning. no end in sight for president trump s trade war with china. in just the last hour, china has announced it will impose new tariffs on $75 billion in u.s. goods. it comes as we wait to hear from the fed chair jerome powell at any moment. he is speaking at an economic forum in wyoming. will he announce interest rate cuts as he faces major pressure from the white house? it s go to alison kosik. tell us what these new tariffs mean for the u.s. economy. so the new tariffs are sort of a slap back at the trump administration for its final round of tariffs on the remaining chinese goods of $300 billion in chinese goods that come into the u.s.
are embarrassed by this. but the idea of boycotting on the republican side with money is probably one of the most effective ways to punish them or slap back. he seems like the only thing that would be even more effective would be for everyone to get off twitter, even for just a period of time. has there been any conversation along those lines? in this instance, it appears money has talked. i m told right before he came on the air with you here that twitter has in fact freed mitch. the team mitch twitter account made that announcement. but it shouldn t have to come to that. president trump has, as you know, over 60 million twitter followers. that is a direct pipeline into the phones and computers of americans. and it s a way he can get his message to people complete the unfiltered by the news media. he shouldn t have to be forced to voluntarily give that up simply because money does talk. we will be successful in this time, getting twitter to do the right thing. and free mitch mccon
in more than a decade. in addition, china is no longer buying the products that our farmers make. china is tightening up on its own. it was an apparent slap-back against president trump that threatened new taxes on chinese products last week. the announcement led to wall street s worst week of the year. now like nothing we ve seen in one day, since february of 2018. the fox business network s jackie deangelis in manhattan. good afternoon, shep. the dow jones is off its session lows. down 855 points at the moment. the dow, the s&p, the nasdaq, they re all on track for their worst day of the year. in the dow were to close at session lows, would see their third largest sell-off in history. so what happened today? you and i discussed this last week after the tariffs were imposed by president trump.
on brexit but not much eelse. johnson was against the united states pulling out of the iran deal. he is in favor of a two-state solution in the middle east. he was aghast when donald trump announced a muslim travel ban. this is not a man who is aligned with donald trump on all foreign policy issues. so if trump thinks it s going to be an easy go with boris johnson on these kinds of things, i think he s got something coming. i want to ask you a separate question. the president was sitting in the oval office yesterday with the prime minister of pakistan. he said he was willing to mediate kashmir, a long-running dispute between india and pakistan and he said the indian prime minister, mr. modi, asked him to do that. the indian government came back with a slap back and said, no, we did not. what s that about? it s been long-standing policy between those two countries that they want it resolved bilaterally. and it s been american policy for a long time to help them solve it but not to m
the sky without some slap back. there question is if there s some response that he views more appropriate and that s something to unfold in the coming days. but certainly he has long been concerned about new military intervention, starting new wars. i think part of what you re seeing here is him coming back to that belief. and he can change his mind because he s not an ideological republican. he is consistent on certain issues, especially trade issues, immigration issues. we ll take a quick break. when we come back, roy moore is back. does that mean republicans have a problem in alabama?