Sen. Elizabeth Warren, D-Mass., sat down with CNBC's John Harwood to talk about an array of issues, from President Donald Trump to the economy. Here, she discusses tariffs and Trump's trade war.

Q: In the spirit of left-right unity, do you like what the president's doing on China tariffs? You agreed with him on getting out of the Trans-Pacific partnership.

A: Yes, I did.

Q: And he is now talking very aggressively about not just the tariffs he's already announced, but potentially up to $500 billion in tariffs. You like that?

A: So here's how I see this: I have been a longtime critic of our trade policy — I mean, a long time — because our trade policy has been negotiated by a handful of executives from giant corporations, and it's been negotiated to help them and leave everybody else behind. And I think that's a real mistake.

I think tariffs are one of the tools in the toolbox, but they're only one of the tools. And so when we change trade policy in America we have to have a plan. We’ve got to work with allies and we've got to make it work for the American worker. Trade policy for decades now has been tilted fabulous for multinational corporations that are trying to boost profits, and a real killer for American workers and American small businesses.

Q: Do you think that the net effect of the president's willingness to challenge the EU, to challenge China will maybe get to a place closer to what you like?

A: It's like saying, "will chaos yield an outcome that you like?" That's the problem.

Q: You don't want to bet on that?

A: Well, I'd like to have a president that actually has a plan in mind and a way to execute on that plan that makes some sense. That's how I think we are stronger as a country.