I'm Pamela Brown happening now a big mistake tough words from President Trump's Treasury

Secretary as the trade war between China and the U.S. intensifies.

Also talks with Iran, President Trump's Middle East envoy in a possible new nuclear deal with

Iran. We have late-breaking reporting from the White House. We want to welcome our viewers here in the United States with Iran. We have late breaking reporting from the White House.

We want to welcome our viewers here in the United States and around the world.

I'm Wolf Blitzer.

You're in the situation room.

Happening now, only moments ago, the Trump administration leveling some tough talk at china right

Beijing is vowing to retaliate against president trump's tariff and the president has given

Beijing until tomorrow to back down this is what treasury secretary scott bestin said

just a short time ago i think it was a big mistake this Chinese escalation because they're playing with a pair of twos.

Traditionally, if you if you look at the history of the trade negotiations, we are the deficit country.

So what do we lose by the Chinese raising terrorists on us?

We export one fifth to them of what they export to us.

So that is a losing hand for them.

Also happening now, a big bounce on Wall Street, at least right now.

The Dow is in positive territory after three days of painful losses and very rattled nerves.

Let's go live to CNN correspondent Mark Stewart, who's joining us live from Beijing right now, Mark.

China's government is accusing the U.S.

of blackmail and economic bullying. Is there any sign Beijing will back down and withdraw

its retaliatory tariffs? Good to see, Wolf. Look, despite what Washington may want,

Beijing is making it very clear. It's not budging.

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