i just don t see that. the invasion of crimea, attack on our financial systems, the meddling in an election, the stealing of our intellectual property, i mean, there s nothing on that checklist that would say, hey, this is a good idea, russia is now behaving better, let s bring them back in as a partner in these discussions and make it g8. i don t get it. chris: so, well, so let me ask you, as one of our political analysts, why do you think he s doing it? i don t know, i don t know. the president had a mission to disrupt the current status quo with the g7 and get after some of the trade imbalances, but i think that was a distraction to suddenly suggest that russia should be part of those discussions. it came from out of the blue, ii don t understand it. chris: 30 seconds, jonah, what do you think is going on here? i m not sure i buy it because
price increase on what is already a relatively expensive product to stay what s available there. leland: you think about it and especially in the u.k. and most of europe, you ve got the vat added and then the import tariff and then add 25% to that. so, suddenly, your bourbon rather than buying it from you, they re going to buy japanese whiskey or something else. there s home grown stuff in whiskey, just like in america and starting to sell it over there. leland: the wall of unintended consequences, many of the president s supporters say, too bad if it s going to hurt small businesses like your own, but we ve got major trade imbalances with these countries. they re note treating us, quote, unquote, fairly, therefore we need to do this even if it hurts you. the simple reality is, the types of jobs this is going to hurt are the very ones the president wants to support the most. it s hurting agricultural jobs and manufacturing jobs.
of something than he ought to be? we ought to be very careful in this area of trade, because it s complicated. it s been said that to every complex problem there is a solution. easy, simple, and wrong. and that would be kind of the case here. there are trade imbalances. we ought to address them by negotiating through the world trade organization. there are mechanisms to do that. there are ideas if we build high enough tariff barriers and block out goods from the rest of the world, we will somehow come out better. we tried in the holly-smoot tariffs that broke the global he economy. it led to the great depression. we want to prevent that. we want sensible trade negotiatio negotiations. but creating a trade war is not going to put anybody in a good place. there are no winners in a trade war. all right. looking ahead.
chinese, they rig their markets no more than the chinese. it s an education there. whether this is the answer, i don t know. do you worry that trying to protect one industry of this president and any president down the road that might consider doing the same would be hurting lots of other industries. congress would be remiss if it didn t do something about that. i look at these tariffs as mainly a negotiating tool. i know he has to put bite behind them. by the way, the markets have agreed with you. they don t think it s going to happen. it could happen. it could happen. at the same time, let s not forget canada has almost 20,000 tariffs implemented. we have all of these trade imbalances and trade deficits. quite frankly, forget the steel and aluminum situation. what trump is saying enough of the past. we are having a new era, knew rules of engagement. we re going to have fair truth.
our european allies and canada and mexico led to a place where we felt that the trade imbalances that president trump has often complained about were addressed. and unfortunately, that didn t happen, and so now the white house has decided to move forward with this. obviously much to the frustration of a lot of our allies. rick: you heard the response from trudeau. in essence he said whatever tariffs you impose, we re going to match it and double down and impose bigger tariffs on u.s. goods coming into canada. and the same thing is coming out of the eu. they are prepping tariffs on a number of u.s. goods. and mexico has obviously said they threaten to do the same thing. there is a bit of concern on what the impact will be on the u.s. economy. as we have heard the u.s. trade advisor to president trump say and also larry kudlow, you know, the chairman of the national economic council say the economy right now is so good that people shouldn t be concerned, that any blowback or impact fro