partners racing toward economic suicide over tariffs. politically, it is no accidents that china is picking on farmers. from ceample fields to beijing markets a prolonged trade war represents most. china represents a billion-dollar market for us. buys 30% of the pecans grown in the united states. the big worry right now is what happens if we are in a prolonged dispute. at a recent california food expo the trump trade war took center stage. china is the state s third largest export market. you name it. we grow it here. since april china slapped new tariffs on. 45% on pistachios. 55% on walnuts. norlg grower likes to see tariffs imposed. china imports in the united states why business aaspistachios andalmonds pressu. if they feel the pain, he
the european union. they understood this was wrong. they had barriers. they would sell their cars, we couldn t sell cars to them. they would tax us, but we would tax them far less. by the way, i ll give you one example. because it really works. when we build a car and sell it to china, they charge us a tariff of 25%. when they build a car and sell it into the united states, we charge them a tariff of 2.5%. by the way, they don t pay them.we get 2.5% and they get 25%. other than that it s a very fair deal. does that sound fair to you? i say where the hell have our people be. honestly, i don t think they cared. i don t think they cared. it s nasty. look at the bad press i m getting. oh, he s putting tariffs on.
now, on the european side, my question is, do the europeans get it yet? because they didn t believe that trump would pull out of the paris climate change agreement. they didn t believe he was going to pull out of the iran deal. they didn t believe he was going to put tariffs on. so if i were sitting in brussels, i would be coming to washington with something to offer trump, whether it s a loosening of i don t know, agricultural tariffs. paul: no, that is not going to work. car tariffs it s got to be. it s got to be on automobiles, and it s got to be at a minimum it would seem to me essentially the same rate on tariffs, and i m not sure even that is going to work because the germans are going to say, you have a 20% tariff on trucks here. i don t know about that, paul. i think if the europeans came with a deal to trump and they could both stand up and proclaim victory and walk away paul: yeah, but it has to be on cars. i think both sides would be happy. paul: my point is it has to
now, on the european side, my question is, do the europeans get it yet? because they didn t believe that trump would pull out of the paris climate change agreement. they didn t believe he was going to pull out of the iran deal. they didn t believe he was going to put tariffs on. so if i were sitting in brussels, i would be coming to washington with something to offer trump, whether it s a loosening of i don t know, agricultural tariffs. paul: no, that is not going to work. car tariffs it s got to be. it s got to be on automobiles, and it s got to be at a minimum it would seem to me essentially the same rate on tariffs, and i m not sure even that is going to work because the germans are going to say, you have a 20% tariff on trucks here. i don t know about that, paul. i think if the europeans came with a deal to trump and they could both stand up and proclaim victory and walk away paul: yeah, but it has to be on cars. i think both sides would be happy. paul: my point is it has to
market with cheap products americans are sending all of their money abroad that s a net outflow the value from the u.s. the stock market today more or less shrugged off the comments the tariffs on implemented yet and also we had earnings season which is kind of crowded out some of this noise that we ve been hearing but make no mistake that is papering over the cracks because when we do if i should say we do see these tariffs implemented then we will see a severe reaction on the stock market and the dollar dips today yes absolutely severely you could say so if president trump were to go the full five hundred i guess any doubts that there is a trade war between the u.s. and china that would be removed would be a big faceoff and this is this is we ll just call it a trade war then absolutely i mean. the the difficult thing in all of this is that american workers wouldn t be saved american industries would not benefit from this so you would kind of be shooting himself in the foot there real