Live stream: White House hosts annual 'Made in America' showcase

President Donald Trump speaks to reporters in the Cabinet Room of the White House Tuesday.

President Donald Trump is hosting companies from across the country at the White House for the Made in America Product Showcase on Monday afternoon at 3 p.m. ET.

The is the second annual product showcase hosted by the Trump administration.  At the event in 2017, Trump climbed into the driver's seat of a firetruck for a photograph opportunity with the White House press corps.

President DonaldTrump sits in a firetruck from Wisconsin, as Vice President Mike Pence looks on while participating in a showcase of products made in the United States, at the South Lawn of the White House, in Washington. The showcase featured 50 products from the 50 states. Trump signed a presidential proclamation in the East Room making 17 July 'Made in America' Day and this week, 'Made in America' week.

The event comes as the Trump administration digs in on a trade war with China and the European Union.  President Trump says he’s prepared to impose tariffs on all $505 billion in goods that China imports into the U.S. if the trade war he ignited escalates.

“I’m ready to go 500,” Trump told CNBC’s Joe Kernan in an interview that aired Friday on the network’s "Squawk Box"program.

Trump says that European and Chinese auto tariffs on U.S.-made vehicles are unfair. Trump has proposed a 25 percent tariff on auto imports in order to level the playing field.  Automakers contend raising tariffs risks undermining their investments, hurting sales and eviscerating jobs.

Trump has slapped tariffs on $34 billion in Chinese goods and threatened another $416 billion in duties.

Citing the $375 billion trade deficit the U.S. runs with China, as well as large gaps with other countries, Trump said, “They are taking advantage of us … We have been ripped off by China for a long time.”