>> rose: welcome to the program. we begin this evening with charleston and talked to congressman jim clyburn of south carolina. >> you may regard david beasley took this position when he was governor. the and state's reaction to it was pretty, it was terrible. in fact a lot of people think he lost his re-election because of it. i think in view of that governor haley is taking a tremendous step here. i know from all of the surveys that's been done that inside her party there's a strong affinity for this flag. >> rose: we continue with ian bremmer of eurasia group talking about greek debt. iranian negotiations and

vladimir putin. >> putin senses, and he senses rightly that there's not a lot of unified support for nato across europe these days. there was an election in brilliant, they want to reduce the spending despite the fact that russian has invaded a sovereign nation in europe. so putin understands there is a game to be played here to try to get the europeans away from the united states. i'll say one thing i was in europe last week. one thing i found very interesting is the support from germany for this ukrainian government is eroding. >> rose: we conclude this evening with al hunt on the story of jeffrey zients president obama economic council. >> i'll take it any day if indeed the playing field is level. that's what strong trade agreements do. >> rose: james clyburn ian

bremmer, al hunt and jeffrey zients when we continue. >> rose: funding for "charlie rose" has been provided by: >> rose: additional funding provided by: >> and by bloomberg, a provider of multimedia news and information services worldwide. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: we begin this evening with the tragedy in charleston, nine people including reverend were killed at the african methodist episcopal church on wednesday. they gathered to commemorate the victim as the church reopened its doors. south carolina prosecutors charged 21 year ol. he's said to have been motivated by racial hatred.

several pictures emerged of him posing with the confederate flag. south carolina government nikki haley called for the removal of the confederate flag from the state capitol earlier today. >> we are here in a moment of unity in our state. without ill will, to say it's time to move the flag from the capitol grounds. >> rose: obama said this weekend that the legacy of slavery still cast a shadow on american light. he announced today he will be attending the funeral of the render. joining us from columbia south carolina, congressman jim clyburn. i'm pleased to have him back on this program and i like everyone else gives great sense of sadness and sympathy on the loss to him and to the loss of the people of south carolina and the loss of every people around who find the invasion of a place like this and such gassily acts so abhorrent. we hoped it would be as americans. congressman thank you for

joining us. >> well thank you so much for having me. >> rose: what happened today with the governor and what's the significance of that. >> i think it is very very significant. this is the second time time a governor taken this position, a third time that the governor has. you may recall david beasley took this position when he was governor. and the state's reaction to it was pretty, it was terrible. in fact a lot of people think he lost his re-election because of it. i think in view of that, governor haley is taking a tremendous step here. i know from all of the surveys that's been done, that inside her party there's a strong affinity for this flag.

the only problem is this flag they have so much affinity for never had any real relevance to south carolinians. the flag on the grounds just happened to be the battle flag of northern virginia. that's not a flag of south carolinians forth under. that flag never had any official status. in fact when they tried to get that flag adopted for the whole confederacy the daughters of the confederacy rejected it. >> rose: officially to act to the governor to take this action will then go, be taken down and moved to a museum, is that correct. >> no, sir. she is calling for it to be done. the legislature has to do it. now the legislature's coming back into session tomorrow to

deal with the budget. they'll be checking up her vetoes. what she's asking them to do is to amend the resolution that they are operating under in order to take the flag up and dispose of it as an issue. she said in her speech if the legislature refuses to do that, she will then use her authority to call them back in a special session to achieve that. so her speech today is the first step in what could be a pretty long drawn out process. but i would hope that legislators could codified to heal. a lot of ming needs to take place here in south carolina and

across the nation. i would hope what she said to do is a start on that journey. >> rose: healing is one thing that's obviously needed. but what else is needed so we don't every week experience some active violence motivated for all the wrong reasons? >> well i think that there is a sort of a heritage of violence, as you know, that we same to have in this country. we've got this love affair with guns. and nobody wants in any way to deal with guns in a realistic way. nobody wants to control people's actions when it comes to gun ownership. but we do want guns to be used properly and we should put in place laws regulations rules, if you please, to governor the

ownership and use of guns. this young man had guns at his disposal. he looked at all of his pictures he worshipped those guns. he had no business with a gun. he had been indicted arrested twice, once on a felony charge. but we do not have sufficient legislation to allow the background checks to take place to find out who is this person wanting to own this gun. what is wrong with them? and why do we have gun owners or the organizations that seem to support gun owners, refusing to do that is beyond me. i've seen the surveys that indicated the gun owners would like to see legislation to do that. but the people who are hired by them the association, the people who are making money off of this, are they don't want to

see it done. so you got to run to what the motivation is. it seems to me all of us ought to be motivated to protect the safety and security of the american people and one way to do that is to have some realistic gun safety laws and stop all of this foolishness about people wanting to take your guns away. nobody wants to take anything away from you. >> rose: tell me about reverend pinckney. >> i was one of the finest people you'll ever meet. when he was about a sophomore in college he came to my attention. when i ran for secretary of state. he worked in my campaign. he started passing of age at 18. he got elected at the legislature at the age of 23. i was with him at an acumen cull

service when walter start was shot by a policeman up in charleston. he mced the program that day and i was one of the christian speakers. and of course there was a jewish rabbi there and others. it's interesting but when we left the church that day, i said to my wife, i said you know, i really believe that senator is going to pursue more of a role a religious role rather than a political role. there was something in my talks with him that day that led me to believe he was rethinking his entire life's pursuit. and that he was about to pursue the religious path a little more

than the political path. and i was kind of anxious to find out a couple days ago from one of the presiding elders in the church that clemente had started pursuing in a more elevated role in the a and b church. so he is that kind of fellow. that never will, i don't know if i ever heard him argue with anybody. >> rose: two questions. one, do you believe there is a drift towards extremism in this country. that somehow too many people with the instant media that we have and with all that happens in the blogosphere, and with all websites that have such unlimited ability to spew out such venomous material is

contributing to these acts of, these criminal acts. >> absolutely. i said when i spoke at my service as much. now as often happens these sound bites, someone lifted the statement i made and isolated it and said that i blamed them on the internet. i did not say that i blamed this on the internet. i blamed it on this young man able to gather all of this foolishness to be sort of permanent not -- purpose nenting from the internet. that's not what i said. i said the internet is one of the best things ever created. i also said it's like one of the

worse things ever created. it's like everything else, people misuse religion. i'm not saying that the internet is at fault. i object to this notion that he's a lone wolf. he's not a lone wolf. you may be sitting alone at home but if you're sitting in front of your computer and somebody is posting all this stuff that you're reading and making you think you would elevate your status in the world by going out, following these directives, then you're not a lone wolf. you are part of something that is broader and maybe very very like a lot of people. but do you know charlie, i think one of the mistakes i think we make is to view our nation's progress as if it occurs on a

linear plane. our nation has always moved like a pendulum on the clock. going right for a while, then back left for a while. then it goes back right for a while. and if we do not intervene it will go too far to the right or it will go too far to the left. and we saw that during the vietnam war when things went too far to the left. the day it's gone too far to the right and the american people need to get a grip on this because i really believe that we are flirting with disaster if we don't see that we need to arrest this growth. because it could become cancerous and then deadly. >> rose: what should presidential leadership include at this moment. >> well i think the president is striking all the right chords on

this these days. the president and i had a pretty long conversation thursday morning, as i drove from the charleston airport down to the church service. he knew clementa very well. and a lot of the members of the ame church hierarchy have been good friends of his over the years. so the president was absolutely taken aback by this. when i talked to him thursday morning, he was a bit emotional about it. so i was not surprised at all when he decided he would come and be a part of this service on friday. i expected a vice president to be a part of it as well. because the vice president was with, i think the last time the vice president was here in south carolina he met with clementa

pinckney. so both these gentlemen knew him. and so this young man had a tremendous impact. he didn't go out holding press conferences to talk bit. but this is the guy who would sit down with you and offer up advice and guidance. and you just knew that he was somebody very special. so i think the president is approaching this directly. i hope that he would strike the kind of chord that needs to be struck on friday. i was with him out in phoenix after that shooting there. and he is just doing too many of these kinds of eulogies. >> rose: you can sense the frustration that it continues to

happen and seems helpless to be able to do something. i thank you for oh time. >> thank you. >> rose: everybody extends their sympathy to you and your fellow south carolinians. >> i appreciate it. thank you for having me. >> rose: back in a moment, stay with us. >> rose: ian bremmer's here. he is the founder and president of eurasia group. europe uniform ministered decided to extend sanctions on russia until 2016. i spoke with vladimir putin at the st. petersburg economic forum. he told me russia has found the inner strength to withstand pressure from economic sanctions. we'll talk about that more. he also gave his perspective of the crises in yow crane global terrorists and more. greek prime minister alexis tsipras to reach an agreement between greece and his creditors. i'm pleased to have ian bremmer back at this table. welcome, sir. >> thank you charlie.

>> rose: the clock is ticking on greek debt. what is going to happen. what are the forces that work. give me the moment. >> the moment is it is between greece and germany but it's also between greek leadership and their own people. they need to have enough of a sense of crises internally so that when they make a deal, and they want to make a deal, that they don't lose their government. they don't have defections to make it impossible for tsipras to win. from the beginning it should have been abundantly apparent that this deal had to go down to the wire for that very reason. they cannot make this thing easy. >> rose: so therefore they're going to go make a deal in the end but they have to look like they fought until the last and they were forced to do it in order to save greece. >> we've already seen huge capital plate. just today we started to see quietly capital controls. we saw that banks in greece were limiting how much money people

could take out on a daily basis. $3400 because the maximum that was allowed. all of that is creating the sense it's not just that we don't want to compromise but you have to, there's no other choice. and we're giving it as good as we possibly k we're being patriotic, good greek civil servants for the country that's been devastated. they experienced the worst decline economically than any developed state since world war ii. the idea they were going to just roll over with the germans is the consequence isn't there. but here's the problem. the problem is not they're giving it a really good fight. the problem is they're not very competent, all right. so we saw on sunday that the last terms that were sent over by the greek government turned out wrong sheet. on monday they sent the right sheet. it's not the first time that's happened. if you're the german minister of finance, if you're on the european troika, you're very frustrated by the inability to

handle basic diplomacy. >> rose: germany and the eurozone members are forced to say no. >> they can afford to say no. but politically, merkel does not want this to happen on her watch. doesn't want to be blamed for it. she is an institutionalist a multilateralis . there's more than enough will on the part of the german government and enough of flexibility to get this done. i believe the likelihood of the greeks actually leaving the eurozone is very small. >> rose: what happens if they do. >> if they do and we have a default, they end up with their own currency. >> rose: who loses most? >> well, i don't think that the europeans will lose much economically. i actually think that the amount that's in the banks and regulations that have been created mean that you won't see a run on other countries. and furthermore you also won't

see other governments lining up to exit themselves. greece is a unique situation in europe. the nature of the government as well as the economic. >> rose: let me understand. so if greece decides to leave the eurozone no other countries will rush to join them. >> i think that's right. >> rose: what's the problem. >> one is that politically greece is much more likely to orient itself towards very different countries. >> rose: china or russia. >> china and russia. china in terms of infrastructure building and russia in terms of the military awe lienlsz. that's a very different motions for countries that are increasingly concerned we'll be talking about russian encroachments into europe. this is what we need at the end of the day and to simply let the greeks go simply because they weren't able to make your austerity terms that implies europe is really not about common values. >> rose: are the austerity

terms unfair. >> depends who you talk to. i think the level of economic department raw dation is true and the strength of the german position i think they've gone too hard on austerity. i think it's true the greeks were living well beyond their means for decades. it's also true that the german banks were well aware of that and more than well willing to fund it. and so i think a deal, i think a compromise needs to be made that the greek people can live with this. it's not like spain where you have a very strong gray market and the spanish youths can find a way to actually makend meet. in greece you have 30% unemployment and it's real unemployment. you have public institutions just aren't funded anymore. this is a country the reason they voted for this at best strongly socialist at worst marxist communist orientation of government, is because they felt they had no other choice.

and at some level you have to find a way to let greece grow again. people are going to have to invest. bet's going to be forgiven. it can't repay the level of debt that's been put upon them. >> rose: they spoke at the petersberg conference, was that for show. >> mostly. he wants to show he has some options. again that show is not just for the germans. that show is mostly for his own people. doing everything he k shaking every tree seeing where there's support. but the russians aren't about to bail greece. >> rose: the collectism is there will be an extension or something is going to happen here and they'll find a deal to not put them in default. >> that's right. but collective wisdom was that was going to happen on monday. it's not going to happen. if they have to end up in technical imf default, the imf can take time as long as there are negotiations going forward. this deal doesn't have to happen by its deadline. so in other words my view is

that greece is like the nba which that's only the last five minutes that actually mattered. but you know frankly the last five minutes just like the nba lasts longer than five minutes and that's where we are on greece. >> rose: any feelings about where putin is on ukraine because we've had a series of things. one we had the extentions by the eu. all he had to do was get one person even the greeks, didn't do it. >> didn't do it. let the greeks know ultimately they're ultimately staying in europe. >> rose: that's that. the president is announcing they are considering all of these strategic moves to support countries because they are all signatores of nato. why is there loose talk about nuclear weapons. they feel as you and i have discussed before, the field is respected. they put an enormous amount of effort to building up their

military capabilities which degraded quite a bit at the end of the soviet union, the beginning of the open era. when the united states is saying we are actually prepared to base rapid reaction capabilities, put tanks, put special forces other units on the ground. >> rose: brigade spread across several multicountries. >> right. which they say they wanted. but you have europeans that increasingly say if the baltics were attacked we wouldn't necessarily want to support. >> rose: is this public opinion or government. >> this is public opinion. but the pointed is that putin senses, he senses rightly that there's not a lot of unified support for nato across europe these days. he just had an election in britton. they want to reduce the spending despite the fact that russia has invaded a sovereign nation in europe. so putin understands that there's a game to be played here to try to get the europeans away from the united states. i'll say one thing, i was in europe last week.

one thing i found very interesting the support from germany for this ukrainian government is eroding. >> rose: for the government in kiev. >> for the government in kiev. they were very concerned. i'm sure you saw that former jordan president was appointed the governor of odessa. >> rose: the russians look like they were just sticking to them. >> for the germans it looks like a desperation move. >> rose: they really spoke to me about that. they blame the influence of somebody from even the united states saying there was a friend saying that was really sticking it to them. >> the ukrainians are under pressure and they have very few the government's not very popular. very few people they believe can actually implement anti-corruption. there's just not a deep pool. >> rose: do you think that was a wise choice. >> of course not it was a horrible choice. but the point is the ukrainians know that the russians aren't going anywhere. the europeans support is waiverring. the best the u.s. could do.

>> rose: they're not evacuating. >> they're not evacuating, they're not leaving ukraine shoyu crane feels they are getting desperate. >> rose: do you think it will work itself out. >> i don't think the russians need to take more territory at this point. as long as they continue to squeeze and ultimately the ukrainian government falls under its own weight. >> rose: then they have elections or something. >> they have something and the russians try to have more influence over the next groom or the process. >> rose: they call it a do day graw. >> i'm not sympathetic to putin invading ukraine -- also the soft invasion by the russian forces. borrow the way the deal on ukraine was handled and then dismissed by the west was a realistic to the russians. putin is correct in the feeling he was pretty in a way the chinese never would have been treated if they were in that situation. >> rose: he has a point. >> of course he has a pointed. you don't have to like him. >> rose: i don't know why it

isn't hard to say to people convince them you respect them, value them and their culture and everything else and them try to make hard political deals. we always seem to have a hard time doing that. everybody does. >> yes. we're worse at that, though. we're so big. they think it's because we're so big. >> rose: and they think we can run rough shod. >> because -- >> rose: you feel strongly about. >> i do. >> rose: they may lose 2018. >> i think there's a chance they lose 2018. i think that we've seen the fifa senior official saying if malfeasance was found they would have russia and cutter as sites for it. cutter is a -- russia really does. there's no question in my mind the site of the world cup in 2018 matters much more to putin

than u.s. sanctions against russia because of ukraine. >> rose: i think i believe that too. >> you know, there are tens of iminlz -- billions of dollarings who rely on putten. it's a massive issue of personal face. half built stadiums across his territory with money suddenly gone for everyone up there really behind him in terms of his power and he loses it because of the case being brought from his perspective completely politically by the americans, he will react to that. i think he will react dangerously. i quite worry about this one. i'm not just blowing smoke. i think we should watch what happens. >> rose: when i talked to him -- we think it's important they not take it away from him because it means something. >> look. at this point this is a case that's going to continue on the part of an independent inquiry.

i'm not suggestings the americans stop it. i'm trying to say if i looks like the russians are going to lose it, the likelihood that this conflict escalates dramatically has gone way up. i mean certainly serious cyber attacks against americans, more danger in the baltics. i don't think putin can sit and watch. >> rose: what was the purpose of that visit to sochi. >> i thank you it was interesting. he goes there, he meets with putin for four hours in sochi. putin's summer dacha such as it is and speaks mostly not about ukraine but talks about syria talks about iran. for me that was an effort to try to show a battle bit of faith. nobody's not going. we know we're a big guy but there are other things we would discuss as we would with the chinese. america's at virtual war with china as you see the cyber

attacks coming with our government officials the classifications, it doesn't stop us from being able to stop to the chinese about investment or talk to them about climate. >> rose: that's a strong statement- >> we're at virtual war. yes, we are. but that doesn't stop us from having real conversations with the chinese on areas that we can cooperate. with russia, i think that was an effort should have happened much earlier. but an effort by our secretary of state to try to show that we can actually be frenimies. we can do both. things are broken and the steps taken afterwards both in terms of fifa and also on the u.s. support the military support in the nato countries we've also seen some additional fighting on the ground in southeast ukraine. clearly the russians have precipitated some of that. all of that really means that right now, it was a nice blip. it could have led to something

but it's gone. >> rose: it's in the ether. >> that's gone. >> rose: other deadline coming up is obviously june 30th is the iranian deal. putin said to me we're likely to get a deal. that's the consensus isn't it. >> it is, it is the consensus. >> rose: what else is happening that might make the consensus wrong. >> well, you have the iranian parliament. they just came out and passed a draft law that said that they would not allow inspections of iranian military bases. now that is a non-starter for the french, for the americans for most of the t5 plus one. i think this is pure posturing right because congress is playing hard ball in the u.s. so iran's congress is going to show they can do the same thing. this is a deal that the supreme leader -- >> rose: you have access to military facilities and it should be. >> and it should be. >> rose: because that's where the nuclear materials are or

they have development of missiles that can deliver. >> my understanding is both there could be nuclear programs but also key research facilities to support the nuclear program. >> rose: that's where they're. >> yes. >> rose: define than what they are simply calling a military installation. >> i don't think you can have a program of inspections that say we will allow you to inspect everything except some places where we probably have things that are breaking the agreement. that really doesn't work. >> rose: you can't say you can't go inside to inspect if in fact you have a nuclear facility. >> i think unfettered inspections are required. i think we're going to get there and this is clearly a good deal for the americans even though it's a lot weaker than they'd wick it to be. the world is much more diverse than it used to be. >> rose: the world will engage in a massive nuclear proliferation. >> this is bad for saudi arabia. >> rose: what are they doing to prevent it. saudis for example.

>> they're not doing much. i think they're freaking out. they're focusing more on security. they are slog down on reform within saudi arabia. they are trying hard to build military consensus with the pakistanis, with the cooperation council with minimal success. the saudis are really worried. they are right to be. this deal is worse for saudi arabia than that of any other country in the world and they understand that ultimately within five or ten years time america's relationship with iran is very likely to be much closer of that than saudi arabia. >> rose: in five years if the deal goes through in five years the united states of america will have a closer relationship to the republic of iran than with saudi arabia. >> within five to ten. >> rose: five to ten. >> i think that's true, yes. >> rose: that would scare the royal families to death. >> it should. >> rose: what are their options. >> well their options are -- >> rose: isn't there country open to asia that wants all of their oil. >> there is. it's a big one. >> rose: they have lots of money as well.

>> they want everyone's oil. they are buying from iraq, they will be buying from iran in big numbers. >> rose: they are prepared to make a deal with russia. >> the chinese are prepared to spend a lot of money in saudi arabia and they'll build a lot of infrastructure. the chinese are not going to provide military support to the saudis at least not in the near term. i don't see that happening. >> rose: as you suggest the united states get closer to iran, does that mean that saudi arabia and the emirates will get closer to china. >> a little bit yes. but what i see happening, you see the french government french president went to a gcc cooperation council meeting. they just came out today and said we want to make sure that this deal is going to be very tough. that's really because the french see an opportunity to sell more arms to the saudis. the french see an opportunity to sell more arms to the emirates. they would like to get it. they are likely to pick up the margins from america's loss. the chinese will absolutely do more deals with saudi arabia. they're going to do those deals anyway. i don't necessarily see a

strategic alliance forming between the two countries. >> rose: thank you my friend. >> thank you. >> rose: ian bremmer the eurasia group. back in a moment, stay with us. >> hunt: jeffrey zients is director of president obama economic council. previously he was deputy director of the office of management and budget and then acting direct of omb. following the dras trust launch of obamacare website he turned to mr. zients to fix it. he did. prior to his government service jeff zients was a successful engineer and was managing partner of the washington national though his group narrowly lost out to another. welcome to the program jeff zients, i know you love to be celebrating that but you like your current job. >> i'm very excited to be a member of president obama's team. >> hunt: let's start off by talking about the economy. what kind of growth do you

expect. what can you get down to. >> i think you're right al we had a first quarter largely driven by weather and probably from the port strike on the west coast. 280,000 jobs was a strong number and the unemployment rate now is down to 5.5% which is near a seven-year low. so we feel like the economy's in good shape. that said there's more we can be doing starting with strong trade agreements which will enable us to boost exports exports leads to well paying jobs. we need to finally have infrastructure investment in this country that's significant and long term. >> hunt: what do you think you can get that five five down to this year or what kind of growth do you expect next year. >> i'm not going to be in the business of projecting growth. what they are about is making sure we have good policies in place to ensure that americans have access to well paying jobs. and as i said earlier,

infrastructure's important to that as is making sure we avoid the drama around the budget that we've had in the past. if you look at consumer confidence or business confidence, it is different each time washington had one of these self inflected wounds, we want to replace the sequester with balanced deficit and leads to under vent in key areas like education, research and development. >> hunt: jeb bush the republic presidential candidate says if elected he would produce a 4% annual economic growth. is that realistic these days. >> well we believe that right now we're in a relatively strong position. as i talked about earlier. but if we make the necessary investments in infrastructure if we put in place strong trade agreements that allow us to export more goods, the position of the american economy relative to global competitors is quite strong.

we lead the world in innovation. we had the most projective work force. we now have this new force of competitive advantage in energy. al if we were sitting here a decade ago we would be talking about vulnerable e to energy. in it's now a source of compete at the advantage as we're the number one producer of oil and gas in the world. we need to take advantage of our competitive position and export more projects. >> hunt: we have more oil right now. >> the oil situation has changed quite a bit in the last decade. believe it or thought we consume less pet troll products than 1997 even though it's much bigger. we produced more than a long long time up to five million barrels per day to over nine million barrels. >> hunt: why not expert oil and drive the price down. >> a fair amount of oil. as the swaying changes we'll look at our policy but right now there's no change. >> hunt: no prospect of

exporting oil. >> there's no can change in our policy. >> hunt: that's talk about trade. this is a big week for trade. do you think it's likely you'll get a trade deal through both houses of congress before they convey to the july 4th recess. and will the president sign a trade promotion al deal if that adjustment systems that administrate bill for adjustments seize -- systems isn't on his desk. >> they have a plan this week. there is bipartisan support as we saw for trade promotion authority coming out of the house of representatives last week, bipartisan support. that bill is now in front of the senate. it has bipartisan support as we saw on the senate vote a couple weeks ago. at the trait adjustment assistance, this is a strong program. it's a six year reauthorization of trade adjustment assistance and much higher level and current levels and covers service workers. that's important that that covers tens of thousands of more

workers. altogether about a hundred thousand people are served by this program. so this is an important program for american workers. >> hunt: one is dependent on the other. for the president to sign he's not going to sign one he has to sign both is that fair to say. >> the president looks forward to signing both trade promotion authority and trade adjustment. >> hunt: he won't sign one without the other. >> he will sign both into law. >> hunt: i think you're saying that but i'm not sure. >> he looks in order to signing both of the laws. >> hunt: by july 4th. >> congress has a schedule laid out this week that should if they hit their marx enable congress to deliver the trade promotion authority and trade adjustment system by the end of the week. >> hunt: this is all pre lewd to the transspecific fact. if you do get the authority right after the 4th, when do you think you can finalize and send a tpp pact to the congress. >> say the promotional authority is critical to have in place.

with that in place the ambassador will enter the final rounds of the negotiation. like with any negotiation many of the hardest issues are left to the end. nothing is done until everything is done. so we anticipate an important round of negotiations shortly after the trade promotion authority is signed into law. >> hunt: is ambassador from the white house optimistic you can finish that this year. >> absolutely. there's no predetermined timetable in that we have to make sure we have the right deal in place. that deal for the president is the transpacific partnership good for american workers. >> hunt: we'll talk about a couple of those issues. first the democrats if you get it through congress as you hope to you're going to have over 80% of democrats vote against it. hillary clinton happens raised convests. the free trade which was pervasive 10 or 15 years ago has really evaporated.

your party is the anti-free trade party isn't it. >> that's not the case, al. it's fair to say past trade agreements have not lived up to the hype. the importance here in the transpacific partnership the president will be renegotiating nafta with enforce's label and environmental standards in the core of the agreement. in the past enforcement of labor and environmental standards have been side agreements. this completes the president's promise to renegotiate nafta by making labor an environmental provision enforceable. so this will be the most progressive trade agreement there's ever been. >> >> hunt: one of your predecessors, he wrote it would be a gas surto defeat the trade promotion authority. the president has to be given this authority before the transpacific deal. but he said in reality, these trade pacts are much about trade tear i was and quotas have come down a lot and they're really

more about protection of investments and achievements of regulatory harmonization. >> i would push back a little bit on what larry says here in that i think this is about making sure our american workers compete on a level playing field. a level of playing field in terms of labor. a level of playing field in terms of the environment. and a strong transpacific spotter type agreement that enables us to have our workers and company compete on a level playing field. when you compete on a level playing field we win for those reasons we talked about earlier. we lead the world in innovation. we have the most productive work force, we have an advantage in competitive energy. i'll take our team any day if the playing field is indeed level. that's what strong progressive trade agreements do, they level the playing field for our american workers. >> hunt: do you think you're losing the democrats and look warm attitude of hillary clinton and others because they're not looking at the president they're looking back at the past.

>> well i think that we first of all do have bipartisan support. you saw that last week in the house. >> hunt: you got 48 democrats, you lost over 160. >> so i think it's fair to say that past trade agreements have not lived up to the hype. this will be the most progressive trade agreement. and let's be clear. the president will only sign the transpacific partnership if indeed it is good for american workers. >> hunt: let me ask you a couple specifics. one of the controversies the democrats constantly raise is something called the ion divorce state dispute settlement. that can sound arcane but in essence it allows some companies to bring actions against domestic regulations and they take it to an international tribunal. and some people say this is really unfair, that they are challenging tobacco packaging laws in places like uraguay. why not just drop this provision or limit it to its original

intent which was to outlie seizures of assets. >> well, these provisions are important to ensure that when companies invest overseas that they are treated fairly, equal terms to domestic companies. i wanted to be clear. here in the u.s., there have been 17 cases brought under the isds. the u.s. has never lost a case. and it's very clear in the agreement that's being negotiated that countries have the ability have the right to regulate and to have the laws that they have. the only thing we're protecting here is to ensure that companies that are investing overseas receive equal treatment. of the agreements that you reference that have been criticized are not agreements the u.s. has been part of. and to be clear any investment state dispute settlement provision that the u.s. will be party to will be very progressive and will continue this tradition of the u.s. being

in strong position treating countries fairly and not having any inability or any inhibition for countries to do what's in their interest in terms of regulating and setting out laws. all this should do is set a level playing field so the companies are treated the same. >> hunt: you don't think there's a case just to limit it to seizures of assets. >> i think that the way that this is being structured here will be fair and will make sure that countries have the ability to regulate. >> hunt: there's some controversy of the whole question of patents and intellectual property. critics say the pharmaceutical industry is waning too much. doctors without borders which is a pretty enmity group and i'm quoting them would be the most harmful trade pact ever for access to medicine in developing countries. >> this is not something that's been settled within the negotiation. as we talked about there are still open issues, and striking

the right balance, the pharmaceutical companies had the incentive to continue to invest in research and development in developing drugs making sure at the same time the developing companies have fair access to drawings is absolutely a balance that will be struck in the transpacific partnership. >> it's an even issue. >> hunt: let's talk about corporate tax reform. you're for it but realistically is there a prospect of it happening in this congress. >> secretary lu and ryan are having conversations about tax reform. there's a lot more overlap than i think we had a few years ago so there is potential to do business tax reform. in a revenue neutral way where we lower the statuary rate. we have the lowest in the world at 35%. we create an international system that works. right now there's too much incentive for corporations and businesses to keep their profits

parked overseas. that creates perverse incentives. we want those dollars to flow back to the u.s. to make investments here in the u.s. so there's an opportunity to fix international system, lower u.s. rate all while maintaining revenue neutrality. and at the same time to put in place a one time tax to bring back those profits that are trapped overseas tax those as they come back, repatriation tax in order to pay for infrock structure. so infrastructure is an area where we massively under invested in this country. we keep doing short term taxes to the highway trust fund. we need a long term bill and we need a bill that funds the highway trust fund at a much higher level so we can finally invest in infrastructure in this country which creates good well paying middle class jobs and is essential to our competitiveness as a country. >> hunt: but this is the rub. because you're right both sides would like to lower the corporate tax rate the 35% top right. but republicans say any of that

revenue that you pick up from loophole closings including repatriation ought to go to lower rates. don't take it to 2029 -- there really is no common ground is there. >> i disagree in terms of common ground here. i think you're seeing a growing consensus that the money that i just described is generated from the one time repatriation should in fact be used for infrastructure. >> hunt: from a bunch of republican republicans. >> they would furchld a long term transportation bhil. the president's support toward business tax reform is predicated infrastructure investment. and also on making sure as we bring down rates we get rid of loopholes and inefficient sees in the tax code so that the lowering of rates is done in a

revenue neutral way. >> hunt: do you have many businesses that are volunteering to give up some of their loopholes. >> it's hard but to have a competitive tax structure. today's tax instructure is filled with loopholes and inefficiencies so i think it's in everybody's interest in the greater good for us to rationalize the system, lower the rate create a better international system, invest in intra structure and have a system much important competitive and get rid of perverse incentives to rather it here in the u.s. >> hunt: all the republican candidates in this presidential cycle are running against what they say is an overregulated economy they criticize your administration. that's totally predictable. but this president used to brag about the way we test, we review an omb or ira.

we go back and we look at these regs to see if they were really working. remember the milk case about three years ago. talking to people including a number of democrats there seems to be a much more massive approach you're not doing nearly as much of that. why. >> i don't think that's the case, al. every regulation goes through a cost basis analysis to make sure the benefits outweigh the cost ask we're doing this in the motion flexible cost efficient way. that's true going forward in any cost benefit analysis. but you're talking about the regulatory -- >> hunt: in retrospect did this work. >> but not to go back and look at what's still in the closet. that's the effort that you mention cast sunstein started that we continue to push on. >> hunt: the big push -- >> the big push the president called on all cabinets secretaries to bring forward

rules or regular laces -- regulations that no longer make sense. and? light of additional rules that have been put forward it makes sense to do this clean out of the closet and we're in the middle of doing that and pushing our cabinet secretary is hard to do so. >> hunt: omb has to leave because some cabinet officers don't have incentive to say this rule or regulation we promulgated isn't working as well. >> when the president asks his cabinet to do something that's at the top of their list. >> hunt: we'll see more of that in the next 19 months. >> absolutely. >> hunt: the next 19 months, not much time left there really isn't a whole lot the administration can do with a rather hostile congress. >> well, am, i disagree with that. first of all execution's key. legislation that's been passed executive actions, we need to continue to execute. if you look at the private sector where i came from discussion is what differentiates good companies from not so good companies. i think the same is true in

government. we need to execute. so we will be in a period of extensive execution and real focus on making sure that we get things done. at the same time we talked about the trade agreements. there's going to be progress on that front. i think there is the opportunity for business tax reform. and we have a budget discussion coming up in the next couple months where we need to turn back the sequester and make sure that we are investing education in research and development and national defense. so there's quite a bit of work to be done, both in terms of execution and new legislation. >> hunt: thank you jeff zients for being with us. >> thank you. >> hunt: and thank you for joining us. captioning sponsored by rose communications

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on tomorrow's pbs newshour migrants pleading war and violence have overtaken a greek island.

this is "nightly busine" with tyler mathison and sue herera. greece lightning, the indebted country offers a new plan to avert default, signaling a deal may be near sending stocks higher around the globe. home sweet home. existing home sales surge, some say prices will surpass the peak from the last housing boom. but is it a bubble. swift response the pop star that brought the biggest company to its knees. all that and more on "nightly for monday june 22nd. good evening, everyone. welcome, i am sue herera. my partner tyler mathison is on assignme tonight. we begin this evening with greece where a deal on that country's debt is closer than ever. at today