and good evening once again from our nbc news headquarters here in new york. this was day 939 of the trump administration, and here are two more numbers for you on this friday night. this is the president s 222nd day at a trump golf venue, his 290th day at a trump-branded property since being sworn in as our president. tonight finds our president at his trump golf club in new jersey. it s been a week, and for this president, it brought the first really indications that he economy he is running on may be running into real trouble. financial markets signaling that a recession is a real possibility and that his trade war is taking a toll. the dow posting an 800-point drop, the largest this year. trump blamed his own federal reserve chairman, who he referred to as, quote, clueless jay powell, citing his actions on interest rates. jay powell should be cutting
or whatever. he actually won by 18. but had said 28. why does he think that s what voters want to hear? don, when i did formal events when i was in congress or whether it was governor. i make them formal. i really don t know. and do i think people want to hear bragging? i don t really think so. i don t think that s what people are into. they want to know what are you going to do moving forward. pennsylvania is absolutely in play. it s in play because these things that have been promised haven t been delivered in many respects. pennsylvania is in play. michigan is in play. wisconsin is in play. and those are critical states. that s why he was there today. he s trying to shore it up. let s talk here. president trump caved today on tariffs against china. last march he said that his
when i was governor, i make them foo foo formal events. i really don t know. and do i think people want to hear bragging? i don t really think so. i don t think that s what people are into. they want to know what are you going to do moving forward. pennsylvania is absolutely in play. it s in play because these things that have been promised haven t been delivered in many respects. pennsylvania is in play. michigan is in play. wisconsin is in play. and those are critical states. that s why he was there today. he s trying to shore it up. so les talk a little more here. president trump caved today on tariffs against china. last march he said that his trade war would be easy to win. is he out of his depth with the chinese? don, look, you and i don t agree we do agree on the fact that china shouldn t be taken advantage in cheating and lying and stealing our secrets. and not giving us a fair trade practice.
there are a lot of things this country is focussing on rightly so. you have called the president, the biggest threat to the economic expansion, why? his trade war, the higher tariffs that are with china, china s retaliation. the fact that the war seems to be running off the rails and if we have a full blown all out war with each other, the largest two economies on the planet threatens to undermine investor sentiment and raise prices for consumers and attacks on american companies and threatens to undermine investment. these together add up to a potential recession. and look, last week peter director of the office of trade and manufacturing policy was on the show. i was giving examples of certain products, lazy boy washing machinestariffs.
get back, and now since the trade war has started, you know, the market price for our soybeans today are well below or cost for production. i want to put up a chart. what do you do to make up for this? farmers have already planted for this year. is there an ability to get the markets back if they re not in china, given how much american soybean output was purchased by china? it is highly inlikely. we will see and have seen some sales to other countries improve, but not nearly by the amount that china has taken. the market maybe can rebound a little bit, but we are having a very wet spring this year, so there s a chance we won t get as many acres planted as we intended. that now that appears to be the