ipr, intellectual property rights protection. but compared to what was going on a week ago, we could see our stock market tanking largely over this china issue, i think it s a step in the right direction as was the mexico/canada nafta 1.01 or whatever they want to call it. janice, let me ask you about another component of this announcement which is that china has agreed to designate fentanyl, a controlled substance. that is something very important for the united states. they ve been pushing hard for it given the problems that we ve had here with opioid addiction. explain to us the significance of that decision by the chinese government. well, i think it was significant that this was the issue that came up first at this dinner between president trump and xi jinping above the trade war issue that s obviously been lingering. this is an issue that president trump called out china on in augusto twitter saying that china simply had to do more.
welcome back. i m stephanie ruhle. let s go now to wall street where the dow is down just 80 points. it s coming off a five-day winning streak. let s find out why with my friend dom chu from cnbc. dom, what s going on? what s going on today right now is a market like you said that s been kind of on this mini winning streak five days for the dow. the s&p 500 is now within 2% of its record high. so this is all about trade and tariffs and everything else. it s probably the most significant overhang in the markets right now. a lot of traders will argue that if you didn t have the trade war issue looming over the markets, we would again be at record highs. the reason why it s coming to a little bit of focus today is we re getting some numbers, some estimates around what it could cost consumers if president trump s auto tariffs start to the go through. this is from the peterson institute for international economics. they re saying that the average cost of a car, some of these import cars,
in calling out china. they have abuse in many respects the free-trade arrangement that has been built up over generations. companies compete in china or international companies as they are allowed to another countries. they have used the trade system to their advantage. the president is right in taking action. the question is, are these actions coordinated? i don t think so. before he left for the singapore summit, he had a difficult meeting with the g-7. he s not going into this trade battle with china with a unified effort by the western powers. second, i think a lot of his judgment seems to be snap judgments. he impose tariffs on countries aiming at china and he wound up hitting canada and other countries where we have not only trade relationships but very strong national security relationships. the methods i think he employs in many cases are counterproductive. to the trade war issue, we could be approaching such a
in calling out china. they have abuse in many respects the free-trade arrangement that has been built up over generations. they don t allow american companies to compete in china or international companies as they are allowed to another countries. they have used the trade system to their advantage. the president is right in taking action. the question is, are these actions coordinated? i don t think so. before he left for the singapore summit, he had a difficult meeting with the g-7. he s not going into this trade battle with china with a unified effort by the western powers. second, i think a lot of his dgment seems to be snap judgments. he impose tariffs on countries aiming at china and hewound up hitting canada and other countries where we have not only trade relationships but very strong national security relationships. the methods i think he employs in many cases are counterproductive. to the trade war issue, we could be approaching such a
i think the president is right in calling out china. they have abuse in many respects the free-trade arrangement that has been built up over generations. they don t allow american companies to compete in china or international companies as they are allowed to another countries. they have used the trade system to their advantage. the president is rightn taking action. the question is, are these actions coordinated? i don t think so. before he left for the singapore summit, he had a difficult meeting with the g-7. he s not going into this trade battle with china with a unified effort by the western powers. second, i think a lot of his judgment seems to be snap judgments. he impose tariffs on countries aiming at china and he wound up hitting canada and other countries where we have not only trade relationships but very strong national security relationships. the methods i think he employs in many cases are counterproductive. to the trade war issue, we