Former US Senator Gregg: Trump can't afford to push trade deal until after 2020

On Tuesday, President Trump sent a shockwave through the markets after announcing a trade deal with China might make more sense after the election. Then early Wednesday morning, futures turned around on a news report saying the U.S. and China are getting closer to agreeing on the amount of tariffs that would be rolled back in a phase one deal. Judd Gregg, former U.S. senator and former governor of New Hampshire, joins "Squawk Box" to discuss.