the dow. [closing bell rings] down only eight points and change. news on canada and mexico. that is it for countdown. david asman, kristina partsinevelos, take it over now. kristna: no deal yet. a lot of back and forth but a bit of a recovery on wall street. the dow ending the day down about 29 points. off session is lows. the s&p 500 battling for green. nasdaq and russell 2000 fighting for end at new closing high. i'm kristina partsinevelos, in for melissa francis. >> i'm david asman. you're watching history in the making. anything could happen next hour. "after the bell" continues. here is what else we're covering for you in a very busy news-making hour. a u.s.-canada trade deal on the brink although the u.s. trade rep saying there still be a time for a deal. meetings will resume on wednesday. the president's leaked off the

record comments may have thrown a monkey wrench into the last-minute negotiations. the very latest what happens now with an agreement between the u.s. and mexico. we'll be hearing from the canadian foreign minister. she will be holding a news conference at 4:30 p.m. eastern time. that is half hour from now. we will take you there live. forbes media chairman steve forbes among our guests this hour. amid all the trade talk, president trump in charlotte, north carolina, signing an executive order to help small business employees save for retirement. linda mcmahon will give us details on the new initiative for american workers coming up. kristna: the dow ending in the red second day in a row, down 29 points, dragged by shares of boeing, goldman sachs, chevron. gerri willis who is on the floor of the new york stock exchange. gerri, markets seemed to have turned around at the end of the

day. >> go figure. they liked the fact that negotiations broke down between canada. market is down 0.10. nasdaq down a quarter of a percent. that is a big change, i'm sorry, up a quarter of a percent. it had been up more strongly earlier. russell setting a record here. and news out of today's trading session, ford will not import small cars from china, especially the ford focus. why? because they face a 25% tariff because of the negotiations going on right now with china. averages for the month though, here is the good news, the dow up more than 2%. s&p 500 up 3%. the nasdaq up 5.7%. it is a great month for tech stocks. why? because they're perceived rightly or wrongly not to be hurt by conversations over tariffs. record closes for the month, apple and amazon. amazon trying to become a member of the million dollar market cap club.

not happening yet. amazon is close. it has to get to 2050.27 to make that happen. apple in the news as well. warren buffett saying he is buying more shares of that stock. take a quick check on the market this is week. the dow up .6 of a percent, nasdaq up 2. have to tell you don't look away from your screen because this has been a great month for stock, great week for stocks. finishing out better than expected after today's news. guys, back to you. kristna: better than expected despite back and forth with trade talk. thanks very much, gerri. david: i have breaking news this is statement from the u.s. trade representative on negotiations with mexico but specifically with canada. we're quoting here. the talks have not succeeded but the u.s. is sending formal notification of congress now in order to preserve the 90-day time frame to sign a deal before the new administration comes in, in mexico. they just had an election. the new administration there is

coming in on december 1st. canada can join later if they reach a deal. so this is the breaking news that we are hearing now. edward lawrence is following this or trying to. kind of like following a very fast ping-pong game but edward, what is the latest from your perspective. reporter: exactly. like "whack-a-mole." you knock it over here and something else comes up. what we're hearing a letter of intent went out to congress. today was the deadline to start the 90-day clock. the letter of intent actually includes both canada and mexico. the u.s. trade representative releasing a statement saying that the president notified of congress of intent to sign a trade agreement with mexico and canada if it is willing 90 days from now. the agreement is most standard, high advanced trade agreement in the world. this is advancement from what is happening, looking forward to possibly next week when the canadians are supposed to be back on wednesday to start those talks again. the u.s. trade representative hopeful that they can come to a

deal with both canada and mexico, including canada in this letter means they can sign on to the deal before it is ratified by congress. that means signing timeline by current president of mexico before deace -- december fist, when the new administration takes over in mexico. there are reported off the record comments that he made, basically the u.s. was not going to compromise with canada but will not mention that publicly because it would be too embarrassing or insulting them. here is the president's tweet confirming what he said. wow, i made off the record comment to bloomberg concerning canada. this powerful understanding was blatantly violated. oh, well, more dishonest reporting. at least canada knows where i stand. he take as hard land with canada. they have an agreement with mexico. they're trying to see if canada signs on to the trilateral parts of that agreement.

that is what is happening right now. it will start again in ernest on wednesday when the canadians will be back in town. david. david: just to finish up on robert lighthizer, he is the u.s. trade rep 's statement, this is the final paragraph. we're negotiating with canada. this week the meetings continued at all levels. the talks are constructive. our officials continue to work with the agreement. the ustr team will meet when minister freeland and minister of canada and her colleagues next week. stay tuned, folks. edward, thank you very much. >> if we don't make a deal with canada that's just fine. we'll see how it all works out. i say, affectionately we'll have to tariff the cars coming in. a lot of money coming into the coffers of the united states. kristna: act fun shun affection

atly. a current member of the canadian government advisory council. there is so much. i want to recap with the toronto star article coming up publicizing leaked comments from a bloomberg interview with the president. i want to read a tweet before i get your thoughts on it from one of the toronto star reporters. i obtained these quotes. i'm not bound by bloomberg's off the record promise. i asked the white house and trudeau team for comment. the trudeau team certain the quotes are accurate. sprung them on the trump team at the meeting this morning. afterwards the president of the united states did essentially verify these tweets. saying he is happy canada knows how he feels. you are part of this team. you are in canada. how do you feel and how do you think canadians are reacting to this? is this what pretty much turned things around today with the negotiations? >> no, i don't think so. look, we have experienced a lot of tension over the last couple of days. everyone was hopeful we would come to an agreement by the end

of friday today and we didn't. but that is not unusual in trade negotiations. there is a lot at stake, your president, president trump, is a tough negotiator. but i do think he wants to get to a deal. canada wants to get to a deal. we do have more work to do. i'm glad to hear we're going back. i'm really grad to hear that canada is part of letter of intent going to congress. i do think all three countries want to come to an agreement. there are still some tough things to hammer out. kristna: how about no compromising? how is that beneficial to canadians, when the president united states says i will not compromise, take it or leave it? >> you know what, not unusual to hear that kind of language in tough negotiations. what is unusual about it. we've all become more accustomed to it with president trump at the helm, in the form after tweet and much more public. in the past trade negotiations are always done behind closed doors. we didn't see this kind of

activity in the public but i think we now know whether it is from south korea or the president negotiating on his tax reforms, whether it is with negotiations with mexico or the european union, this is the way president trump negotiates. so i don't think canadians are overly surprised he will tweet and probably continue to put a lot of pressure on canada leading up to wednesday, even past wednesday. look at the end of the day canadians want to get to a deal. i think president trump wants to get to a deal. i think he is coming off a very positive deal with mexico, particularly around the auto provisions which are also good for canada by the way. kristna: let me interrupt. you just had the president say he will just follow through with those tariffs on canadian cars. how is that for the market? >> it is terrible for the market. it is terrible. look, that is the big, dark cloud looming over these negotiations. we want to get to a deal, there is no doubt about it. if for some reason we can't get to a deal, i do worry president

trump would impose auto tariffs on canadian cars going into the united states. let me be clear, that would devastate the canadian economy. there is a lot at stake for canada. we are talking about 100,000 jobs could be lost. this would, literally devastate one of our provinces economies, have a ripple effect throughout the entire economy. you saw what happened to the canadian dollar. soon as looks like nafta talks might be failing of i feel president trump want to see the auto provisions succeed, canada wants to see auto provisions succeed. this is important for labor unions and workers both in the canada and the united states. we have some tough to hammer out the next couple days or weeks but i do believe we all want to get to a deal. we'll get there eventually. there has to be compromise on every side. kristna: on that we'll leave it there. thank you so much for your insights. david: very exciting moments here. let's bring in today's market panel. jason rotman, managing partner at lido isle investors,

advisors, excuse me, carl roth, future file legacy creator and former invessel banker. carol, what do you think, do we get a deal? >> she put her cards on the table, we really want to get to a deal. if you read into that the president doesn't want the comment leaked, he knows how to play the press, he certainly wanted that leak to happen. sounds to me with everything i'm hearing we're marching towards a deal. both sides will take credit saying there was some level of compromise but kind of sounding like perhaps we will be doing less compromise which is very exciting. david: jason, i don't want to get into the weeds on the leak business, however, the fact i don't believe this president is naive enough to think off the records comments would be respected by a press that can't stand him. >> yeah. i mean there is such thing as internet. this is not 1917. word gets around pretty quickly these days. donald trump knows. that is why he tweets so much.

i agree he is not naive in "art of the deal." he is not naive in media relations. he knows what he is doing. let me throw out a interesting statistics 3/4 of canadian exports headed where? to the u.s. donald trump has leverage. he is using as much to manage as possible. david: carol, is his leverage working? is his negotiation style which is so unlike anything i've seen in my lifetime from any kind of trade negotiation, do you think its working? >> well remains to be seen. certainly as you know i do -- david: worked with mexico by the way. that we know, right? >> exactly. i don't understand the tactics. i don't love the tactics but at the end of the day is this going to work based on what we're hearing now with mexico, and what your previous guest just said, sounds like it actually could be working. david: it could be. jason, carol, what a time we live in. thank you very much both of you. have a good weekend. enjo i the labor day. wow. kristna: our previous guest, she was very optimistic about things

working out. as a canadian perspective. david: it is 4:12 eastern time anything could happen in the next hour. we're standing by. we have people in the washington. we have people with the president in north carolina. we're on the case. keep it right here. kristna: we're waiting actually, live news from a conference at the canadian embassy. we'll obviously bring you that as soon as they begin. with minister of foreign affairs. you have the president's leaked off the record comments that may have thrown a little bit of a wrench in last minute negotiations. we have forbes media chairman steve forbes among our guests this hour. amid all the trade talk, president trump in charlotte, north carolina to sign an executive order to help small business employees save for retirement. small business administrator linda mcmahon is there with the president. she will give us details on this new initiative. that is next. >> small businesses will no longer be at a competitive

disadvantage, and small business workers will now be treated more fairly and have many more choices. they didn't have a choice. ♪ because he hid his customers' gold in a different box. and the bandits, well, they got rocks. we protected your money then and we're dedicated to helping protect it today. like alerting you to certain card activity we find suspicious. if it's not your purchase, we'll help you resolve it. it's a new day at wells fargo. but it's a lot like our first day.

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that will make it easy for small businesses to have retirement plans for their employees. small business administrator linda mcmahon, a local girl made good. she was with the president in her home state of north carolina. linda, great to see you. thanks very much for being here. let me start by mentioning a stat i wasn't aware, i kind of assume it is true, half of all americans are worried they will not have enough money saved for retirement. you have a plan, and president has a plan, that he is pushing of yours, to make it easier for small businesses to offer retirement plans. how does it work? >> well, i can tell you, david, it is going to work really well, i believe. for the first time, you know, small businesses will be able to pool their resources, and form an association to develop these 401(k)-type plans. the benefit for that is, that it will really increase the buying pool. and bring down costs. so, for small business employers

to be able to enter into these pools, they can do what they tell us. what they told me, as i traveled around the country, they can't afford to put these kind of plans in place. all businesses that i talk to, want to provide benefits for their employees. a couple weeks ago we were talking about association health care plans. now i will be able, i'm happy to be able to talk about the 401(k) type plans today. david: yeah. >> there are, about half of all employees that work in companies 100 employees and under don't have any opportunity to have a 401(k) plan. david: because they don't have the economy of scale, the bigger companies have economy of scale. they can do it. you would essentially create that economy of scale by allowing smaller businesses to pool with each other, to have a bigger pool, right in. >> that's correct. so secretary acosta from labor and secretary mnuchin from the treasury are going to be working very hard at the president's

direction now with this executive order to structure the plans, how they will operate. we want to make sure that employers who are in this pool aren't penalized by treasury or by social security, if one member of the pool doesn't do the proper reporting. heretofore that could be a penalty. now under this plan, that will not be a penalty. david: yeah. >> they will get their deductions, the plans still go forward. that is really important. i can tell you these plans will help small businesses. this will be a recruiting tool. this will be a retention tool. because in the tight labor market we have now, small businesses need to compete with their benefits as well. david: absolutely. there are shortages of labor all over. it is a wonderfully ironic situation. but it's a problem for a lot of small businesses. let me talk generally, we talk a lot about corporate profits in the markets, et cetera, but the expansion that we're in in the

middle of, economic expansion extraordinarily at many levels we talk about how it affects corporations not as much how it affects small businesses. you go around the country deal with them all the time, what is effect expansion is having on small businesses in the u.s.? >> small businesses are growing. we have more entrepeneurs starting more businesses, transitioning under the tax cuts, being able to write off property or equipment they're buying in the year they do it. this is a big boon to small businesses. when i talked to them, how is your business in general? they will tell me, look, my customers have more money in their pocket. they're buying more goods and service is. so it is a win-win for small businesses all over the country. now with these type of benefits, able to bring on, probably in about a year, this will make another big difference for small businesses. david: as you know, we're in the middle of all these trade

negotiations. we just finished a deal with mexico. we're in the midst of god knows what with canada. it is on, it is off, it is on, it is off, we'll wait through the weekend to see what happens but is there a concern on the part of small business about trade tariffs and possible negative consequences of these trade deals? >> surely there is some concern for small businesses on a short-term basis because of tariffs but the again the small businesses talked to me and i believe in this president and i can see the long-term gains for my company. so we'll stick true to the course. but they have also told me, but on the other side, the tax cuts, it is a is a little bit what i said before. the tax cuts put more money in pockets of their consumers. david: their customers. their businesses are doing well. in fact some of the small businesses tell me their revenues are increasing even in light of some of the tariffs in place.

david: we should mention by the way, this week we got news that median household income is up 4% since the election as opposed to it being flat over the previous two years before the election. there is a lot more pocket change. >> wages are up. david: wages are up. >> wages increased too. david: please come back and see us soon. great to see you. >> i like to, david. thank you so much for having me on day, appreciate it. safe travels. kristna: we're awaiting more breaking news. this is coming from an update on trade negotiations with the united states and canada. a news conference, that is what you're seeing on your screen right now, at the can fadian embassy in washington. it is set to begin any moment from now. fox business will go to that live as soon as it starts. please tune in into. >> plus we have a bombshell rocking trade talks between united states and canada. what president's trump off the record comments could mean for the ongoing nafta negotiation. steve forbes, from "forbes,"

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david: we are awaiting canada's trade delegation to hold a press conference at the canadian embassy in d.c. any moment now. it has been a back and forth whether the deal's on, whether the deal's off, whether they renegotiate next week or whether it will be delayed even further. here with more, steve forbes, forbes media chairman. steve, let me first start about this, off the record gate if you will, happened earlier today, the fact that bloomberg had an interview with the president yesterday. part of that was off the record. somehow the off the record comments got printed in canadian paper, the star today. bloomberg says they didn't leak

it. do you believe bloomberg? >> who knows. somebody at bloomberg may have done it and other bloomberg people didn't know. somehow with this president every time he has something that media would consider juicy, going back to when he was president elect, conversations with australia and mexico, all of those things ended up in the media. so if there is something juicy there, whether on the record, off the record, it will be on the record in record time. always happens with this president. david: we just heard the president talking about this. and suggesting that he didn't mind. he minded that what he said off the record ended up on the record, but, what he said, he verified essentially. i'm just wondering maybe if he is crazy like a fox? maybe he expected this to be leaked, therefore pushing forward his negotiating stance? >> i think this is one reason why the market didn't react more adversely to the idea that canada would not be part of nafta. i think canada has to be part of nafta and will but leading up to it, every side has to strut,

show they're doing all they can. in terms of negotiating, if you want the other side to know, that you are very serious, you say something off the record, looks like oh, this must be the real deal. where if he said it in public, just a negotiating ploy. the amazing thing, david, with supposedly secret things, they take on added weight when they're revealed. david: by the way another thing he said yesterday was in fact that the tax, may be part two of tax cuts in the form of capital-gains tax cuts, that would be indexed for inflation. what do you think of that? >> it's a great idea. this goes back to the original george bush, h.w. bush back in the early 1990s. they talked about it. he was told he couldn't do it. apparently lawyers relooked at thing, maybe you can do it. if he can do it, he should do it, even if lawyers are equivocal, do it to let the courts decide it. what this would do reduce capital gains levy on unearned

gains. inflation taken a thousand dollar investment 20 years ago, inflation adjustment makes it 3,000 today, that $2,000 is not a real gain, but still pay taxes on it. it would unleash money being held in terms of old investments. people can feel, they can sell the investment now, tax burden so great, below ploy it into new and better things. not as good as a straight cut, by golly in the meantime it is pretty good. david: they're setting up interview with head of, foreign minister. she is about to speak. i do want to ask you one quick question before we get back to canada about the world trade organization which appears the president is ready to leave. just in time for argentina to have a big financial crisis. what do you make of that? >> in terms of the world trade organization, it needs to be reformed, updated to the digital age. we did that 20 years ago the

general agreement on tariffs and trades went into the wto we don't leave it. we want a modern way to judge tried disputes so we don't have trade wars like in the 1930s. david: david: kristina, you say you have headlines. kristna: they plan to include congress, issue about timing. they will present congress a full text of renetted nafta pact within third days. they're working on that very quickly. they want the pact to comply with the trade promotion authority requirements that is a way to fast track it. obviously timing is of the essence before midterms and before the mexican president comes in, the new mexican president comes in on december 1st. you're seeing from the headlines, the u.s. senate will make its own decision whether the trump administration notice complies with these, with this document so they have that. and then, that is pretty much

it. they're saying it could be bilateral or trilateral. they still want canada within this equation. david: steve, how much trouble do you think the u.s. congress, everybody is focused on canada and the u.s., on the executive level but if the congress comes in and tries to muck up the trade deal that has been arranged through all this effort, what could happen then? >> con has to approve it. congress had to approve nafta 20 years ago under bill clinton with republican support that is how the thing passed the first place. david: tpp passed through without congress, right? >> tpp had an agreement but had to be through congress. trade promotion authority. congress can't amend it. it is up-or-down vote. what administration wants what every previous administration wants up-or-down vote. if negotiators can know at that congress will amend the thing, they will not make any

concessions. david: steve, we'll interrupt. here is the foreign minister of canada. can we get sound on that? there we go. >> i will make a few remarks. then i'm happy to take questions. [speaking french] >> translator: we are making progress. a deal very complex. like i said from the beginning. she working in the best interests, good for canada. good for the mexicans. good for the americans. win, winning, winning. [speaking french. kristna: that is what we're working on, with flexibility.

i know we can get there. as you heard me say before, i'm paid in canadian dollars. that's why it needs to be beneficial for canadian workers. and the canadian industries. [speaking french] kristna: we will only sign it if it is advantageous for canada. >> we continue to work very hard. we're making progress. we're not there yet. this is a very complex agreement. and we are going to continue working at it. as we said from the outset, our objective in these talks is to update and modernize nafta in a way that is good for can fadians, good for americans, and good for mexicans. we know that a win-win, win,

agreement is within reached. and that's what we're working towards. with goodwill and flexibility on all side, i know we can get there. but as certainly the canadians here have heard me say before i'm paid in canadian dollars and my job is to insure that this agreement works for canadian workers, canadian families and canadian business. the government of canada will not sign an agreement unless it is good for canada and good for canadians. and in conclusion, before answering your questions, i would like to thank ambassador lighthizer and his team. they have worked hard and in good faith with us for more than a year, including some very intense days this week. we have made good progress but there is still work to be done. >> well go to questions. identify yourself and outlet. do the questions from the line here. one question, no follow-ups, if you want to follow up, get back in line.

[laughter]. >> josh with "bloomberg news." i wanted to ask you -- >> i recognize you, josh. >> thank you, minister. i want to ask you what your message to the u.s. congress is now? whether canada believes the president trump would have the authority under notification to proceed with a bilateral only deal or whether i would need canada to proceed? >> when it comes to the u.s. legislative process that's really a question for the americans and our american counterparts to answer and to sort out. >> [inaudible] >> that's, that's the message for the, that's a question for the americans and it's really, that's their issue. >> julie gordon. do you recognize me as well? >> i do. >> okay, good. we keep hearing chapter 19 and dairy are the two main sticking points. which of those two are not negotiable? are there any other sticking points or things you can tell us about? >> so as i said, to the hardy

reporters who were camped outside ustr earlier this week ambassador lighthizer and i agreed that given the absolute intensity of the negotiations right now we wouldn't be negotiating in public. so i'm not going to talk about specific issues. [inaudible]. >> ctv. president trump had said that today was deadline for the nafta negotiations. seems like they continue going forward on wednesday. are there any real deadlines to make sure there is a nafta deal, if so, what is the deadline? >> for canada? the focus is on getting a good deal. once we have a good deal for canada, we'll be done. >> hi, minister. today -- >> hi, katy. >> donald trump confirmed that he made some comments off the record suggesting that the u.s. would not compromise when it

came to negotiating with canada. i know that you're not going to get into details, but have you seen any movement from the americans that would suggest that donald trump's characterization of the american negotiating tactics, that characterization is not accurate? >> as i said this week and from the beginning of the negotiations ambassador lighthizer and his team have been negotiating in good faith and with goodwill. this is a process that began more than a year ago. and you know, we've done, we've made some progress. we've done some work together. i see jerry dias here. so i can't neglect to mention the car sector and rules of origin. and, our starting point was a place where canada and the u.s. were quite far apart in their proposal. but what we found is the

negotiation went on is canada and the united states shared a concern for our workers in the car sector, who are high-wage workers who have felt they could be disadvantaged by trade agreements and one of the things that i think we are accomplishing in this agreement, is a better deal for worker, canadian and u.s. workers in the auto sector. that is important. that has been a success due to canada and united states working together. due to mexico showing some significant flexibility over the summer. >> stephanie with cnbc. you mentioned the auto sector. how difficult is the pharmaceutical sector and the provisions that would cause canadian drug prices to rise? is that a key sticking point? >> again, i have said we're not going to negotiate in public. when it comes to the canadian positions on issues, i think our positions are pretty clear and pretty well-known. hi, adrian.

>> hi, chrystia, how can you possibly negotiate with a guy like donald trump who says he will not give any ground? that is not a negotiation? how can you make a deal with someone like that? >> my negotiating party is ambassador lighthizer amounts i said, he has brought good faith and goodwill to the table. as i also said, it is going to take flexibility on all side to get to a deal in the end. and what i can speak to is the canadian position. i really want to assure canadians we are working hard to get a good deal. we are confident that a win, win, win, deal is possible. we'll stand up for canadian interest. and values. okay. [speaking french] she is saying exactly same thing. i'm assuring canadians we are confident, that we can have a win-win, win deal as possible.

we are working very hard to build a deal like this. ambassador lighthizer and his team. that's that. i'm also sure canadians that for us it is an absolute priority. what is good for the canadian, for canada and canadians. [speaking french] kristna: and the canadian values [speaking french]

kristna: right now getting into details about key beck. this is quebec reporter speaking right now. like i already said, that we already decided with ambassador lighthizer, it is actually a very critical moment for negotiations. [speaking french] kristna: she keeps saying she doesn't want to negotiate in public. so they're not revealing any details of the question he just asked. [speaking french] kristna: like the prime minister said, the position of canada, is very well-known. we understand that, to finish the negotiations it is going to take searching for compromise

and that's what we're doing. it is a negotiation. always our team, the government of canada, is always about the canadian values. >> prime minister jackson with global news. with reported to president comments reported today, did you raise your comments with the american counterparts? did the conments raise any questions in your mind about the sincerity of the american negotiating position? what is your message to canadians if this is negotiation or we're being strong-armed to a particular point americans would like to see? >> let me be clear yet again, because it is important, and the importance of reiterating this is underscored by your question, canada will only sign a deal which is a good deal for canada. we are very, very clear about

that. the prime minister has said that on a number of occasions including this week, that we want a good deal, not just any deal. and a good deal is one which is good for canned that and good for canadians. a good deal is one which reflects the canadian national interest and canadian values are defended. we are absolutely clear about that. i also want to say, as i said in my opening remarks, i have now been working with ambassador lighthizer and his team for more than a year. we have had some very intense periods of working together. and ambassador lighthizer and his team are very experienced professionals, and they absolutely do bring good faith and good wil to the negotiating table. i think this week we have, really over the course of the entire year, we now understand

each other's positions very well, very clearly. we're working hard to find the win-win compromises we'll need. >> [inaudible] >> i will take the next question. >> good around, minister. -- from mexico. >> bain -- buenos dias. >> you said you were encouraged by the progress mexico made in six weeks. that would help your negotiation. would you please elaborate a little bit. what is present now that you, that you are writing into the negotiations that was not present before that made you think now this is negotiation or agreement was possible and not before? thank you. >> that is a really good question and, you know, as i have said, one, probably, for people who have been following this negotiation over the whole

year, i think you will remember many, many days we spent focusing on rules of origin in the car sector. this is a fiendishly complex issue. and it is the issue which really is at the heart of the nafta negotiations. in the way, in the heart of the nafta relationship, integrated north american car sector. we have spent for more than a year, all three countries have focused a lot of attention on the rules of origin. i want to take an opportunity to thank the canadian negotiating team, which put forward important ideas on rules of origin, particularly around the time of the montreal round. but, rules origin are really, really complicated and in order to achieve the landing zone which we found, some big changes

were required to be made by mexico in particular. and i think the important progress that was, the most important progress, a lot was done over the summer, but the most important progress over the summer was in the rules of origin in the car sector, achieving a deal which required a lot of flexibility from mexico, in particular. thank you for that. that has now put us in a place where we can move on to concluding, we can move on to the other issues. and the rules of origin agreement that was achieved, i think has particular value, for my government because, our priority has always been middle class canadians and people working hard to join the middle class. and we understand the pressures on working canadians in the 21st century economy. and, we understand that working

canadians have sometimes felt that trade agreements have hurt them and hurt their interests. what is really significant about the rules of origin agreement is, it will be good for canadian workers, and for american workers, and that is an essential part of this nafta modernization. >> time for two more questions. >> minister, thank you. edward lawrence with fox business network. were you surprised by the scope of the agreement signed with mexico and the u.s., including other industries like digital trade? what is your feeling on intellectual property in general? does it need to be expanded? >> so as i said i am not going to negotiate in public. what i will say though is the negotiations with canada are not complete. and we continue to negotiate with the united states. so, that, that's why we're coming back next wednesday. and we're going to continue talking until we reach a good

deal. >> bill thompson. you said that canada will only accept a good deal. >> that's right. i hope you wouldn't imagine that canada would be looking for a not good deal? >> i can't imagine that, no. >> good. >> can you consider any deal that doesn't include a continuation of the dairy supply management system and classify that as a good deal? >> i, used to be a reporter and i understand the extreme frustration everyone here is feeling and it really hurts me to be imposing that frustration on all of the hard-working reporters here. put, let me just reiterate that the canadian national interests and canadian values are at the core of our negotiating approach and our negotiating priority. the core canadian positions are

well-known, i think, by everyone and certainly by our negotiating partners. and having said that, really, as we are in this intense period, i am absolutely convinced, and ambassador lighthizer, decided, agreed, that the best way to get a good deal not to be negotiating in public. i am going to stay true to that agreement. >> thank you, minister. inside u.s. trade. i wanted to ask about the steel and aluminum tariffs. will canada accept a deal that doesn't include lifting those tariffs? would you accept some kind of a quota arrangement that some of the other countries have? thank you. >> so on the 232 steel and aluminum tariffs canada has said from the very outset of the 232

negotiations, that this issue is entirely separate from nafta. that is not a opinion. that is a matter of fact. section 232 is a national security consideration. it is not one of the nafta negotiating chapters. having said that, we very much are opposed to these tariffs. they are unjustified and they are illegal. the notion that somehow canadian steel or aluminum could pose a national security threat to the united states is frankly absurd. we are very clear about that. >> that is all the time we have. thank you everyone. thank you very much. i imagine i will see quite a you five us next wednesday. kristna: there you have it, minister of foreign affairs in d.c., chrystia freeland. she used to be a journalist. i was pointing out, sticking to

the talking points, not diverging away. we wanted to hear more about chapter 19. if you have a dispute between canada and united states that would be the chapter in there. she said the auto sector was at the heart of the negotiations hence, to highlight, it was unjustified and illegal with the united states to go forward with any additional tariffs due to safety issues. the president threatened this against canada going forward. she hasn't really veered off path at all with this, not providing any details with the supply management, dairy farmers in canada, any tariffs having to do with that. david: steve forbes still with us. i want to talk about the one sticking point, canadians and the u.s. are holding firm on, that is where they're butting heads here, if you have a dispute, bring it to a third party. the united states wants to bring any trade dispute we have in the

future with canada. there are likely to be some. certainly we have disputes on milk in the past. we have had disputes on lumber. >> right. david: we want to bring them in the united states court system. they wan to bring them to a third party, some bureaucrat in brussels, whatever, what do you think of that. >> that is got to be third party, that is only way you get two separate sovereign nations to agree on it, somebody neutral looking at it. you get national and political considerations. that is why the arrangements were made after world war ii, to prevent disasters you had in the 1930s, where there is no mechanisms to solve disputes. we have mechanisms. they need to be -- they are critical. if it is left to u.s. courts, forget it. david: on other hand a president is very suspicious of international bodies negotiating something that has to do with the united states, whether it is the world trade organization, or whatever.

is it conceivable that we could have some kind of revolutionary change in the way that we deal with disputes, trade disputes? >> no because the other ways don't work. by the way, the u.s. has won 85% of the cases it brought before the world trade organization because we have the law on our side. so why are we overthrow a mechanism that allows to us win cases against foreign countries that engage in trade, things they shouldn't engage in? this is benefit for us. david: as we wrap, i know you you're not a betting man, but on other hand you like a good sports match. this is sport. this is diplomacy, but it is also sport that is going on here. particularly what's happening with these off comment, off the record comments from the president, et cetera. how do you think it all end? >> i think they will come to an agreement. and one of the key things she hinted at is origins for automobiles, tore middle class canadians and u.s. workers. thatthat is a barb named at mexo which has a booming auto

industry since nafta. the canadians and u.s. is coming up with something that mexico will not be all that happy with. david: steve forbes, thank you. kristina, you covered canada for a long time. you know miss freeland. how do you think this will end? kristna: i don't want weigh in, personally, if you think about the facts you saw a slight change in tone the fact that the minister is not responding anything regarding the chapter 19 dairy, anything like that. there is no hints that we know something positive is happening. it is, to me, i don't wan to hear the word optimism all the time. too many people are using that. that doesn't tell me anything. i want to know what has progressed, what are the sticking points, how we work through this? i know this has to happen behind closed doors. canada doesn't believe displaying publicly. there is a little more meat i want as reporter. we'll bring in more people, experts who can weigh in on this carol roth as well as rona

ambrose, former leader of the conservative party of canada. member of canadian government advisory council. and ron, former speecher writer for president george w. bush and. what you did i this of misfreeland's response, lack thereof comment, the negotiations to on next week? i know that you're optimistic based on other interview before, don't you think something is missing? >> i mean a deal is missing. we don't know there is even a deal in principle. we definitely don't have sort of a text to look at. we don't know what she said. it is usual sticking points. we know what the usual sticking points are, chapter 19 mechanism. i agree with steve forbes. you have to have independent panels. you have to fight it out in courts. too expensive, too unpredictable, frankly canadians don't think it is fair.

dairy is difficult issue. this is politically difficult for canada to deal with. like your farming holds political influence and our dairy in particular holds the most votes, the most sway in our farming industry. kristna: do you think they care about canadians, they deep down have to sign the deal because of economy and how heavily reliant on the united states? let's not forget, united states, canada is second largest trading partner with the u.s. there is a little bit of back and forth. we know canada needs this deal? do you think it is all play? >> i certainly don't think it is all play. they certainly want to get the best deal possible but based on the posturing, i negotiated a lot of deals, when it comes to the 11th hour and extending like this, usually that means you're getting close and the tone that she was using, the fact that she didn't want to get no specifics that could end up disrupting something does give

me optimism we'll get to a deal. now what that is, how good that is for everyone of the constituents i think remains a big question mark. i think that every single party will take credit and say this is a better end point but i am fairly optimistic we will get to something. it is just the devil in the details. kristna: i want to get to you. we had a guest on yesterday, ceo of global automakers. when you talk about the auto sector it's great, there are all added points to it. more costly for manufacturers in the united states. is it really that beneficial considering the minister said it is the heart of the deal? >> well she said also that the tariffs, on steel and aluminum were not going to be a part of it, yet that is considered one of the main issues, one of the three. so it is extremely important particularly to the auto manufacturing industry. we know trade is a huge issue for trump administration.

he campaigned on trade. midterms are coming up. i don't see a lot of wiggle room there. kristna: we'll leave it there. thank you so much. carol, oem a and anneke. david: that is a great point. you have a important part of the election dispute. democrats pulling a lot of democratic side out of their argument, creating confusion for a lot of democrats who had historical ties with the opposite of what republicans are known for which is protrade. the president siding with unions in many cases, pulling some oxygen away from democrats as we approach the midterms. kristna: that sums up the united states and politics right now. you can't, don't know what to expect when you talk about fiscal conservatives. david: that's right. kristna: deficits climbing higher. tax cuts we have to pay for. doesn't necessarily mean a bad thing but just differ. even with the markets president has changed we have think differently and something to think about during the weekend.

we have to let you go. david: it ain't over. there is still a lot could happen before the end of this day. to carry you through the next hour here is elizabeth macdonald and "the evening edit". >> i'm paid in canadian dollars and my job is to insure that this agreement works for canadian workers, canadian families and canadian business. the government of canada will not sign an agreement unless it is good for canada, and good for canadians. liz: as yogi berra said, it ain't over until it as over. headlines coming in fast. canada trade talks will kick off again next wednesday after they ended without a in time for the white house deadline. canadian minister, chrystia freeland, that was her speaking moments ago, a deal is in the works. after off the record comments about how president trump would not give canada, quote an inch. a deal is still in the works. we break