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responded in kind as well as japan. he s threatening an additional 5 $500 billion on tariffs of chinese imports. target products that are most produced in the state that voted for donald trump. joining me to explain it all is one of the all-time veterans of cnn. ron insana. ron, are we in a trade war and how big is it? we are in a trade war but it s not the trade war to end all trade wars. you have to go back to the 1930s to see that. deep in the great depression and led to current evaluations, what they call, beggar thy neighbor policy. we re at the beginning of a trade war if the president were to impose that $500,000 on chinese goods. that would be all that china

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