boom, that was going to be we could, but there s no indication, if you look at european growth, global growth, if you look at the headwinds of this trade skirmish, it s hard to think what the catalyst in 2019 would be for a reacceleration in global growth. thank you all. it s a massive day ahead. moments ago jim comey arrived to appear behind closed doors in front of the two committees. it s a big friday. ou? i got beat up, because i was different. so, i created a world where i can heal. based on an inspirational true story of a man who turned tragedy. [ grunting ] it hurts like hell! pain is our rocket fuel. .into triumph. i have my art, i have hope. and that s something they can t take away from me. hell yeah. woo!
betsy, let s start with you and on the trade skirmish it s being called with china. it does look like it s having a tangible effect. it s unclear what the way out is. well, it is starting to have an effect. i think it s worth keeping in perspective that for the typical consumer, it s not having a very big effect. but what it is doing is hitting hard the industries that either depend on selling to china like farmers selling their soy beans or the industries that depend on buying the things that we put tariffs on like steel and aluminum, so our auto industry is really struggling. so we re starting to see those effects. you know, i think that we re also starting to see the effects of this escalating trade war in slowing growth around the world. that s a big concern, john, and you re nodding your head. you wrote a piece today:00 how the mueller probe isn t necessarily the first thing for trump to worry about now. what did you mean by that? well, there is a rising possibility that he
reporter: yeah, you know, it s a great question, dave. you know, the trade war, it s definitely a trade war at this point. we can call it a trade war. it s not a trade skirmish, it s a trade war. china saying that they were going to retaliate, and they did. if there was any thought that they weren t going to retaliate, that thought is now out the window, as you said. $60 billion in tariffs on american $ 60 billion worth of american exports, brings the total amount of tariffs on american imports in china to $110 billion. there s only $130 billion american imports every year, so it s every import facing tariffs here in china. the big question moving forward, will there be more negotiation was here on out. and the answer is we just don t know. the u.s. extended an invitation to the chinese side last week. china said they won t negotiate under the threat of blackmail, but they haven t said that they won t attend the negotiations. that s the only seeming off ramp right now. but the nego
am i going to take the castle away from you. yeah. as we end, a little bit of rapid fire. bitcoin. bad ending. apple. i love it. are we in a trade war? well, we re in a trade skirmish. it s different than we don t want it to turn into a war. it shouldn t turn into a war. it s in everybody s interest it doesn t turn into a war. what keeps you up at night? nothing. i take ambien. good advice for all of us. coming up, warren buffett talks politics. does he think the democrats have a clear message and a strategy to take over the white house? you can see more i m sorry, the house of representatives. you can see more in poppy s podcast. subscribe today. unbelievable video just released by the texas department of public safety. a woman reportedly tries to
look what they do to our farmers. they don t want our farm products. they have their farmers so they want to protect their farmers. but we don t protect ours and they protect theirs. those comments prompted the eu to threaten a new round of tariffs on the u.s. that could be worth as much as $300 billion. it s a little stunning to hear him comparing the eu and china. just as the markets are kicking off this week whashgs the reaction to all this back and forth? the reaction is, chris what you re seeing right now. we ve been watching markets kind in of not in this free fall form but the idea they re reprising to the downside. moving lower because of the threat of these tariffs, of a trade war. what traders and investors are trying to focus on is what a trade war actually looks like. at what point will actually start calling this a trade war as opposed to a trade skirmish or conflict. we tossed around a lot of big numbers. you mentioned the estimated $300 billion that could be the resu