pulled out the transpacific agreement is now set to be signed in early march. and let's cross over to the new york stock exchange with our financial correspondent. good to see you i want to talk to you because just asked who was making this announcement donald trump in the u.s. was announcing you protectionist measures yet ministration announced. tariffs on imports of washing machines. mostly about not only from asia the idea is to protect the domestic companies but that announcement actually cause quite a debate here on wall street because yes some of the domestic companies could be saved but on the other side it also could mean higher prices for you with consumers than from my own experience i can only tell you about a year ago my u.s. made vacuum cleaner caught fire in just the past week and my dishwasher pretty much died so maybe it's not just about price it might also be about quality why some of the u.s. manufacturers are having a tough time especially when it touches you on a personal level there yes now let's talk about the earnings season that is still

countries move forward, transpacific countries have decided to move forward to do more trade openingsngs. so you‘ve got a bit of both. this is a fractured world that we are discussing here in davos. 0k, thank you very much. that was the executive director of the international trade centre. you are getting a sense of the different viewpoints, giving perspectives on where we are heading in terms of global trade. thank you very much. we got a real example on that whole issue of trade —— we‘ve got. later today us regulators decide whether to back huge tariffs, or taxes, of 300% on imported planes made by canadian firm bombardier. thousands ofjobs could be at stake, including many here in the uk. samira hussain reports now from new york. this test is the pride of bombardier‘s fleet and the source of one of the most bitter trade disputes between canada and the us in recent memory. how many more job losses? these workers in northern ireland could end up paying the price. big orders of bombardier‘s c series planes from american buyers pondered cries of an setka petition from us plane making g

remember, under the obama administration, there was a lot of energy put into negotiating the transpacific partnership, opening up that region and forging america's position through a trade agenda in that region and one of the first things donald trump did was take america out of the transpacific partnership and we have seen china, over the last 12 months continue to articulate a regional, if not a global position. there's lots of reasons to be skeptical that china could displace the u.s. as a global leader. nonetheless, the numbers, if you look at the global leadership polls or one percentage point above america's right now. that strategic relationship needs to be managed carefully and closely. >> certainly, president trump was successful in his attempts to wipe out the legacy of barack obama on so many issues. leslie, we thank you. >>> we also saw this first year of the trump presidency and the down fall of isis. we'll get into that part of the story as we push on here, looking at one year of a trump presidency. >>> his first year in office, before he entered one year ago, president trum

trade ambassador word on the transpacific partnership.residentr since the withdrew from the tpp, find out what taiwan is surging to the forefront of green technology innovation. this is bloomberg. ♪ ♪ >> we all know there could be some decisions that could slow down the economy. protectionism does nothing in for trade and the growth of the world. >> it is clear that the biggest risk in our view is trade and trade in a number of ways. i think fundamentally, i would questioning the kind of global trade that has been marking this global economy for so long? i think that is probably the biggest risk out there at the moment. >> for us it will not change our approach, we generally agree with free trade but it is not going to change our directions in developing solar projects. >> trade has now become the hot topic there at davos. this is trade and protectionism at the world economic forum. for now -- more now on the terrace that trump put in place yesterday, let's get to wendy cutler, the managing director and former acting derivative -- deputy

partnership -- to leave the transpacific partnership.hat has happened. there have not been a lot of successful negotiations with other countries. they are trying to get better terms for the u.s. in nafta. although that is not going well, and the u.s. may walk away from that as well. while the president has succeeded in moving forward on ite of his trade promises, has not necessarily furthered trade with other countries, and in some with has isolated the u.s. on the international trade stage and given more leverage to countries like china. anna: thank you very much. the big picture on the trump presidency and his record on trade. fors bring in the cio aternational fixed income --. today we picked trade as a theme. a number of guests over the last few weeks have talked to us about how fallout from trade, even if they have not re-stabilized investment intentions, could be one of the big risks for this year. this is the u.s. trade relationship with china, canada, with mexico. all of the key political topics that we talk about that could hold

and the eleven nations that remain in the transpacific partnership or t.p. have agreed to a new fallback deal that they call the comprehensive and progressive agreement for transpacific partnership canadian prime minister justin trudeau announced the resurrection of the t p p and his address to the world economic forum and davos switzerland now one year ago u.s. president donald trump pushed by a grassroots movement with it drew from the t p p. metron by ministration has announced tariffs on imported washing machines and solar panels the tariffs thirty percent on solar panels and fifty percent on the washing machine washing machines while phase out after three to four years of solar energy enter stres association says a tariff on panels could cost twenty three thousand jobs this year. and the us federal prosecutors have charged five former employees of the accounting firm keepie and she and a former government accountant with plotting to get inside information on the regulatory review process they are charged with the actions of securities and exchange commi

and the eleven nations that remain in the transpacific partnership or t.p. have agreed to a new fallback deal that they call the comprehensive and progressive agreement for transpacific partnership canadian prime minister justin trudeau announced the resurrection of the t p p in his address to the world economic forum and davos switzerland now one year ago u.s. president donald trump pushed by a grassroots movement with it drew from the t p p. metron by ministration has announced tariffs on imported washing machines and solar panels the tariff thirty percent on solar panels and fifty percent on washing machine washing machines while phase out after three to four years of solar energy enter stres association says a tariff on panels could cost twenty three thousand jobs this year and the u.s. federal prosecutors have charged five former employees of the accounting firm k.p. and she and a former government accountant with plotting to get inside information on the regulatory review process they are charged with the actions the securities and exchange commission

pulled out due to the trump administration's isolationist stance transpacific agreement is now set to be signed in early march. and while all of this was going on thousands of anti-capitalists protesters marched in zurich to demonstrate against u.s. president strums upcoming visit to the world economic forum in davos many of them carried anti-globalization and environmentalist placards as they marched towards zurich financial district some have warned that the u.s. president's polarizing persona could wreck the violent anti w e f protests seen in the early two thousand earlier today backers in zurich were warned to stay clear of the demonstration in switzerland financial capital. and it's time for a soccer transfer saga and sports friends actually write in some interesting names to you javier british media reporting that dortmund's a star striker pierre emerick obama yob is on the verge of a move to arsenal obama is considered one of the best strikers in the world he was the biggest leaguers top scorer last season with thirty one goals and has been a key figure at dortmund since joini

nafta, transpacific partnership, and 19 judges out of.ship, and 19judges confirmed to the appeals court where 0bama and bush had, like, three and five. that is huge. a lot of people don't like what he does, that is the problem. elections have consequences. let me bring you some breaking news now, just coming in from dublin. this is that only one candidate has been nominated to succeed gerry adams is president of sinn fein, and therefore the dublin member of the dail, mary lou mcdonald, who sits for a dublin constituency, is the candidate who will succeed him. she comes from a middle—class background in dublin, so she is not associated with the troubles, and she will be formally elected as the party president at a special conference next month. that is marylou mcdonald, who is effectively becoming president — she has to get through the formalities, but is the only candidate nominated cash she has to go through the formalities, but will become the next president of sinn fein. british tourists injamaica are being advised not to leave their r

deal that they call the comprehensive and progressive agreement for transpacific partnership canadian prime minister justin trudeau announced the resurrection of the t p p in his address to the world economic forum in davos switzerland now one year ago u.s. president donald trump pushed by a grassroots movement with it drew from the t p p. the drug administration has announced tariffs on imported washing machines and solar panels the terror of thirty percent on solar panels and fifty percent on washing machine washing machines while phase out after three to four years of solar energy industries association says a tariff on panels could cost twenty three thousand jobs this year and the u.s. federal prosecutors have charged five former employees of the accounting firm keepie and she and a former government accountant with plotting to get inside information on the regulatory review process they are charged with the actions of securities and exchange commission that's compared to literally stealing the exam and order to influence review by the public company accounting oversight board. we

canadian prime minister just in trudeau said in davos he will sign the resurrected transpacific partnership along with ten other asia pacific countries in march the canadians put the p.p. on hold last year after the u.s. pulled out saying they weren't yet ready for tough talks with the u.s. and mexico want to revamp enough to deal a force in canada to diversify its options. here rypien union has hit us chip maker qualcomm with close to a billion euros in antitrust penalties the use competition commissioner said quote comp a key customer apple two exclusively used its chips in i phones and i pads that meant it managed to illegally shut its rivals out of the market for l.t.e. baseband chipsets for over five years qualcomm says it will appeal. more protectionist signals from washington on tuesday the trump administration slapped tariffs on imported washing machines and solar product the trump administration believes the south korean washing machines and chinese solar panels have an unfair competitive advantage over u.s. products they could face tariffs of up to fifty percent. niki lauda has hi

and we tell you how the transpacific partnership is getting a new lease on life.t, hongming up kong stocks are red hot. however, we are looking for signs that investors could get earned. this is bloomberg. ♪ ♪ haidi: this is bloomberg markets: asia. i am haidi lun in sydney. rishaad: i'm rishaad salaam it in hong kong. smashing one record after another. signs of overheating popping up everywhere. should investors take a bit of a breather? joshua crabb is with us. our people at the moment concerned? doesn't that worry you? joshua: in the short-term, absolutely. forget asia for a minute here it let's look at the dow jones. at the level of overboard. 1929, 1956, 1987, 2000, and now. keep in mind. markets move sideways for a while and then have a small pullback. this is where that short-term element is a concern. 3.8 times the price of look. the thing i try to keep the mind of people is that asia is relatively cheap. talked aboutwe this the other day. on so many measures, there is a huge discount. the thing being there is traditionally that is true but to also argue t

of those unfair trade deals in the first year in office, unfettered from his perspective, the transpacificship agreement. a lot of people in the aftermath of that speech said they were pleased he did not go as far as many expected him to when it came to china and a trade war. a lot of a nalysts as china and a trade war. a lot of analysts as well saying that was the key thing missing from the state of the union today, although he did reference china with regards to the national security strategy. he did not come down as hard on china as many had thought. the day before the state of the union, the white house did release a statement on unfair trade practices in china and that went through in detail, the section that they have launched it against unfair intellectual property rights in china. with regard to actual action on unfair trade, besides saying what we have heard before, there was very little in terms of specifics. ok, thank you karisma vaswani, giving us the perspective from asia. let us have a look at the financial markets to see how they are faring today. as i have already mentioned

today, but the president ahead of that speech telling cnbc that he would consider rejoining the transpacific partnership speaking to joe kernen in davos, he said he was here to negotiate. >> i like bilateral because if you have a problem you terminate. when you're in with many countries like with tpp, so you have 12 if we were in, you don't have that same -- you don't have that same option >> right >> somebody asked me the other day if i would do tpp. here's my answer i would do tpp if we had a much better deal than we had. the deal was a horrible deal nafta is a horrible deal, we're renegotiating it i may terminate nafta, i may not. we'll see what happens >> so you might reenter -- are you opening up the door to reopening tpp or -- >> i'm only saying this. i would do tpp if we were to make a substantially better deal the deal was terrible. the way it was structured was terrible if we did a substantially better deal, i would be open to tpp >> the president also gave the greenback a boost saying his treasury secretary, steve mnuchin, was misunderstood >> i think they were taken out of context

canadian prime minister said that canada is set to sign the transpacific partnership along with 10 othera-pacific countries. trudeau used the stage to promote free trade in advance of u.s. president trump's appearance later in the week. the canadians had backed out of the tpp last year after the u.s. pulled out due to the trump administration's isolationist stance. the agreement is set to be signed in early march. and while all of this was going on, thousands of anti-capitalist protesters marched incirlik to protest -- in zurich. many of them carried anti-globalist placards. some have warned that the u.s. presidents polarizing persona could resurrect the violent anti-protests seen in the early 2000's. they were warned to stay clear of the demonstration in switzerland's financial capital. and it's time for a soccer transfer saga in sports. >> interesting names too. british media reporting that pie rre emerick aubaumeyang is on the move toward arsenal. he was the bundesliga's top scorer. the manager confirmed that they are in talks to sign him, but would not comment on a possible deal. >>

because that actually helps china, pulling out of the transpacific partnership. but then not going through with any of his other threats about china. >> yeah, they were actually initially very worried about donald trump. when he merged on the scene as the republican front-runner and then he was elected, they were shocked. they thought he was their mortal enemy as somebody put to it me. then they conclude over the course of the next several months he was as a chinese military general said in an internal speech to the communist party, he has been a great gift to china. because what he has done is pulled out of the tpp, which was designed to contain or at least limit china's commercial sort of growth in the region. and he has cleared the space for china to redefine asia around its own commercial and economic objective. so in literal terms, china has its own alternative to the tpp which it created called the regional comprehensive partnership, if it's approved later this year, it will be the largest trading block in the world. and the united states will not be a part

national security and so many american pickers so what if he did just a little bit transpacific partnership ok i know you're on hold on hold on i'd still like an answer to that for the question if he does if he does choose to to decertify what does that actually mean. so that means that this same sions that the united states has lifted. on iran in compliance with the deal could quote unquote snap back that's what a lot of the republicans they advocated for that and that is a possibility that's not backed think sions would be implemented but i think a further implication is that the united states would be would continue to be alienated in the international community as it has with the paris climate agreement whereas it has with the transpacific partnership as it has with the announcement regarding jerusalem etc and so the reality is that the international community is going to continue to move forward and the question is whether the united states is going to be a leader or is going to fall behind what impact do you think that this type of rhetoric has the fact that it is that the u.s. is bas

. >> reporter: kpix 5 security analyst jeff harp says in a moment of heightened transpacific tensions, this mistake will give the state of hawaii the opportunity to address shortcomings in their system. >> this will allow them to build some redundancies in. >> there's an investigation about what led to today's events. >>> and new information on an attempted sexual assault in walnut creek. tonight police arrested this man, 35-year-old jeremy mickens. police say he tried to attack a woman on a trail thursday. he approached her and physically assaulted her. he also planned to sexually assault her they say, but he ran away. he was booked on several felony charges. >>> and new video tonight of a cliff rescue in san francisco. firefighters had to respond to a woman stronded near baker -- stranded near baker beach just before 7:00 tonight. crews had to use a rope to pull her to safety. the victim didn't have much to say. >> reporter: how are you feeling? you okay? >> yeah. >> she thought she could climb up, couldn't get further, started sliding. the reported party was trying to tell her to c

surely the secretary of state will agree that no transpacific trade deal will make up for the loss oft, and has he seen the mayor of london's report which shows what a cataclysmic effect leaving the eu would have leaving europe and on ourjobs? mr speaker, as usual i don't accept the premise of any part of the honourable gentleman's questions. i don't believe we will lose our share of the market. we want to maintain an open agreement with the european union, they will want that with us, because we are the fifth biggest economy in the world, and a major trading partner with them. the worst assessment was less than half than the assessment given to us before the referendum on what our loss of market share might be if there was no deal whatsoever. the subject of chlorinated chicken also came up. will full regulatory alignment with the eu extend to farming standards in the eu and chlorinated chicken will not be entering the uk? mr speaker, we made very clear on numerous occasions that we do not intend to lower standards in food safety, environmental standards or workers' rights. the impact

were not reciprocal any plans to end that trend early in his presidency trump refused to back the transpacific partnership a trade deal negotiated by barack obama with the levin under other countries in latin america and east asia the other countries went ahead with the deal without the us trying to mention his davos speech that he may consider rejoining as president has also threatened to withdraw from the north american free trade agreement or nafta and last week trump impose new steep tariffs on imports of solar panels and washing machines china which makes many of those products has criticized that decision let's bring in our guests now joining us in suffolk in the u.k. is and had a fourth director of the u.k. based think tank prime economics which focuses on policy research and macro economics in beijing michelle garage the head of the china economic policy research program with nottingham university and answer mark for ha economics analyst and assistant professor at the doha institute for graduate studies and welcome to all of you mark i want to start with you because i understand that y

wants free open and reciprocal trade and made a declaration that he is open to re entering the transpacific partnership or in agreement with a subgroup of the proposed eleven nation pac we support free trade but it needs to be fair and it needs to be reciprocal. because in the end unfair trade undermines a so he also noted briefly about fighting terrorism together and mentioned his support for a merit based u.s. immigration system what was notable about the president's speech and his trip here to davos generally is it was absent of any major pope haws the president spoke from a teleprompter except for two questions at the end of his speech the speech was on disrupted by any protest although there was a large protest earlier in the week in zurich the city where the president's plane air force one landed before departing to davos on several helicopters with the presidential entourage during his davos trip the president met with several world leaders including british prime minister to resubmit he also met with many business leaders or when asked earlier today if he was bringing back any big d

wants free open and reciprocal trade and made a declaration that he is open to re entering the transpacific partnership or in agreement with a subgroup of the proposed eleven nation pac we support free trade but it needs to be fair and it needs to be reciprocal. because in the end unfair trade undermines a so he also noted briefly about fighting terrorism together and mentioned his support for a merit based u.s. immigration system what was notable about the president's speech and his trip here to davos generally is it was absent of any major focus was the president spoke from a teleprompter except for two questions at the end of his speech speech was on disrupted by any protest although there was a large protest earlier in the week in zurich the city where the president's plane air force one landed before departing to davos on several helicopters with the presidential entourage and during his davos trip the president met with several world leaders including british prime minister to resubmit he also met with many business leaders or when asked earlier today if he was bringing back any big d

wants free open and reciprocal trade and made a declaration that he is open to re entering the transpacific partnership or in agreement with a subgroup of the proposed eleven nation pac we support free trade but it needs to be fair and it needs to be reciprocal. because in the end unfair trade undermines a so he also noted briefly about fighting terrorism together and mentioned his support for a merit based u.s. immigration system what was notable about the president's speech and his trip here to davos generally is it was absent of any major pope pause the president spoke from a teleprompter except for two questions at the end of his speech speech was on disrupted by any protest although there was a large protest earlier in the week in zurich the city where the president's plane air force one landed before departing to davos on several helicopters with the presidential entourage and during his davos trip the president met with several world leaders including british prime minister to resubmit he also met with many business leaders or when asked earlier today if he was bringing back any big

and it's also interesting if you look at nafta is still alive right and the transpacific deal is still alive but it's happening without the yeah i did in eighty in leadership as in canadian right you know i mean i think that there's been a chastening kind of behind closed doors about what pulling out of nafta really just disrupting nafta would do to the u.s. agriculture sector and the auto sector both key sectors and if you think about those rural states which really voted for trump if used to tear those apart by ripping through nafta that would be very problematic but his idea of reciprocity and the e.u. has an idea of reciprocity as well but this is not an idea of reciprocal opportunity it's an idea of reciprocal outcomes meaning that if we trade one hundred dollars you have to buy one hundred almost landlord is not how markets work of right. to ask you you know you and i have talked numerous times about how i would use to cover donald trump and steve band as well you had an interview with steve bannon you know where he explained why we're considered fake news or the political opposi

when we have a global infrastructure, we can do the transpacific flight. we saw strong growth. to be market leader in every single region around the world. ami, 70% and be reached within an eight hour flight. the middle east is at the center of this growth. >> you have seen a falling role of ownership in business jets in the united states. is the trend still continuing? airplanes,et of 7000 which is the long-range business market. we see a trundle around the world that boards don't want to prove anymore. putting that asset on the balance sheets, in an on-demand world sharing economy, we offer that availability. availability exactly like ownership in a subscription model. it is a very strong micro trend. it's not in the u.s., it is here, asia, in europe, and everywhere around the world. it is driving the growth away from full ownership. >> what about higher energy prices? .t is a crude price and it has impact on not just the public aviation companies, but also smaller private companies like yourself. >> the oil price is a pass-through. and it is a fraction of the overall cost. w

transpacific partnership withdrawal.specially on the tactical lingwood on digital issues has already been discussed as part of the discussion the three countries that had prior to nafta discussions. i believe also the u.s. administration has served from so many pivotal players including mayors and governors of a consequences of scrapping the deal and i think that makes withdrawal all the more unlikely. the aspirations to finish the agreements, made outlined by march the for the mexican presidential campaign kicks off at the end of that month. a lot needs to be achieved before then. after all, most free trade agreement take on average about 18 months to sign, 45 months to implement from the first day of negotiations. that's a tall order but something our nafta partners can we work on it together. what happens next? first it depends on progress this week. if there's momentum that is likely negotiators will soon meet again. if not we may see substantial time elapsed until the next round of negotiations. two months passed be

the first thing he did in office was to withdraw from the transpacific partnership. serious. what about repealing and replacing 0bamacare? well that turned into a congressional nightmare for the republicans. the tax reform does chip away at one of the affordable care act‘s foundations, the individual mandate, but the president‘s comments in december that essentially the job was done — well, that‘s fake news. it isn‘t. where the president will think he scores highly, is on foreign policy. having vowed to destroy isis, the caliphate is on the run in iraq and syria, and despite the often alarming public feud with the rocket man, kim jong—un, north and south korea are at least talking, for which the president has claimed the credit. what about the wall? perhaps the campaign promise that resonated most with the base. right now, the president is demanding congressional funding as part of immigration reform, and there is still plenty of resistance. we can say, with some certainty that mexico isn‘t going to pay for it. at least not directly. the promised ban on muslims, well

at that president trump speech on friday he actually opened the door again a little bit to the transpacific partnership the eleven nations that have decided actually just the last several days to go ahead with with that agreement without the u.s. you know we were part of that with the obama administration but now that the other eleven are going forward now the president seems to indicate well maybe that means a little bit of a window for us to get involved in that what's your prognosis for for that is that ship already sailed or is it still possible. well it's interesting you know when you look at the eleven countries that are left i mean a lot of people be jumping for joy thinking let's bring the u.s. back in but really the goshi agents have moved far forward trump pulled out about a year ago.

nafta, transpacific partnership, and 19 judges confirmed to the appeals court where 0bama and bush hadand five. that is huge. a lot of people don't like what he did, that is the problem. elections have consequences. president mallory factor talking to me earlier. let's see what president trump has been saying. he tweeted earlier when the argument was going on in the senate, and i guess then he went to bed. he was bright and early up, because he tweeted quite a long time ago now, in the early hours of the morning, saying: that ys byty that ysbyty gwynedd what he was saying on friday night. he adds: and as mallory factor said there, it seems as though the blame game will continue all weekend. it seems the democrats will be blamed by the president, and as you heard, chuck schumer, the democrat minority leader in the senate, said it is all in president trump's shoulders. that is perhaps one for the voters to decide on. mid—term elections in december, the president —— presidential election in two and three quarters years. mitch mcconnell, the senate republican leader, has suggested he will

but at president trump speech on friday he actually opened the door again a little bit to the transpacific partnership the eleven nations that have decided actually just in the last several days to go ahead with with that agreement with out the u.s. you know we were part of that with the obama administration but now that the other eleven are going forward now the president seems to indicate well maybe that means little bit a window for us to get involved in and that what's your prognosis for that as that ship already sailed or is it still possible. well it's interesting you know when you look at the eleven countries that are left i mean a lot of people be jumping for joy thinking let's bring the u.s. back in but really the devotion asians have moved far forward trump pulled out about a year ago it's a different deal than it was a year ago maybe not much but it is a different deal and what donald trump is saying he wants to see some drastic changes you want to see something that does that this deal is actually a really really good deal he called it as it's called nafta one of the worst deal

we can also do transpacific flying. west coast u.s., numbers up 40% in the united states. our goal is to be a market leader in every single region around the world. middle east is really strong. 70% of the world can be reached within 8 -- within an eight hour flight. the middle east is at the center of this growth. fallingyou have seen a role of ownership in business jets in the united states. is that trend continuing come and how are you working around or with that? >> there is a market of 7000 airplanes in our market. it is the long-range, business market. we see a trend around the world that boards won't approve a $40 million aircraft purchase and put it on the balance sheet. now, we offered that availability, guaranteed availability exactly like ownership. a very strong micro trend. we don't see reverse on that. it is not only the u.s. it is here, and asia, in europe, everywhere. that is driving the growth away from ownership and full ownership. yousef: what about higher energy prices? it is a very different brent c

at that president trump speech on friday he actually opened the door again a little bit to the transpacific partnership the eleven nations that have decided actually just the last several days to go ahead with with that agreement without the u.s. you know we were part of that with the obama administration but now that the other eleven are going forward now the president seems to indicate well maybe that means a little bit of a window for us to get involved in that what's your prognosis for for that is that ship already sailed or is it still possible. well it's interesting you know when you look at the eleven countries that are left i mean a lot of people be jumping for joy thinking let's bring the u.s. back in but really the devotion agents have moved far forward trump pulled out about a year ago it's a different deal than it was a year ago maybe not much but it is a different deal and what donald trump is saying he wants to see some drastic changes you want to see something that does that this deal is actually a really really good deal he called it as he's called nafta one of the worst dea