electric vehicles. in the cost of living. to increase production and, in his words, bring so, could it work? council, a life member of america's council of foreign relationsits on the board of directors free up oil and gas permits and leases... so, he's back to "drill, baby, drill," and he's talking once again about american energy dominance. interest of producers? what can he do about it? so, is there a recognition that the united states cannot turn on production like a light switch? and so you have to turn to the countries that hold spare capacity. bring on more barrels. but again, the challenge is, for the opec countries, want to see $50 oil. own economic self—interest? how are his calls being received there? everyone to agree to it. can you explain how that might work? well, i think from his standpoint, he looks at what has allowed russia to continue fighting this war. ukraine the weapons, that is a recipe for an extended can you essentially close the russian oil atm? but he's also trying to reduce permits for things like... interesting to see is, you know, the united states has we've had, you know, discussion of ease of permitting to wind, ev mandate

these are the business, the council of foreign relations, the world economic forum, business roundtable, mba out of columbia. and he went to the university of melbourne to get his b.a. degree. he is morgan stanley, composer has 10 million and his share values 25 million by third example is as judith missick. she's at morgan. she's also the board of in-q-tel, which is the cia's technology management foundation. so the board of directors of general hewlett packard and she just and she until recently was the ceo of kissinger associates kissinger of course is past but she's down on a down days on board of of a large for foundation all the american actually foundation which supports us british relationships. she worked at lehman bank barclays but she was the deputy director of the cia. from 1983 cia. from 1983 to 2005. and there was one other woman who was in the cia as well. so they have intelligence connections her morgan's daily compensation was 370,000. she's that stock worth 2.5. she has shares. she gets gm gives her 361,000 b on their board. and she has shares. they're worth a couple,

a life member of america's council of foreign relations and sits on the board of directors for the atlanticpital markets. helima croft, thank you for joining us on the programme. let's start with the fact that donald trump is doing a lot to free up oil and gas permits and leases... yes. so, he's back to "drill, baby, drill," and he's talking once but the challenge for him is thatjust because you have a looser permitting regime doesn't mean that it's onto the market. you could make yourselves uneconomic. it's that at what price does fifllllfifi ree £3535? lfiffi? [$3 and he says the aim of it is to reduce inflation. but oil and gas is, as we know, an international market, he do about it? turn on production like a light switch? and so you have to turn to the countries that hence why we are back to the demands that opec basically bring on more barrels. but again, the challenge is, for the opec countries, is it in their economic interests to significantly lower prices? want to see $50 oil. against their own economic self—interest? how are his calls being received there? clear that they have an opec

the council of foreign relations looking at which u.s.orts could be most affected, saying it will likely be cars, crude petroleum, phones, computers, and motor vehicle parts. it when he 5% tariffs on canada and mexico will raise production costs for u.s. automakers, adding up to $3000 to the price of some of the cars sold in the united states each year. grocery costs put rise as mexico is united states biggest source of fresh produce, supplying more than 60% of u.s. vegetable imports and nearly half of all fruit and not imports. this is bradley in west virginia, republican. good morning. caller: good morning. vietnam veteran from way back. i used to be a democrat and september 10 i changed to republican because the democratic party is lost in space. let me give you some examples. i buy american if i can get it. i bought a pair of sketchers shoes from amazon and i pulled the tongue back and found it was made in vietnam. i will go barefoot before i wear a pair of shoes made in vietnam. my general electric refrigerator was made in vietnam. i

council on foreign relations. how much pain are we talking about? this is a quite big tariff action. all 72: z -:= of trump on in the first term would put on in the first term would amount about half �*what he on and on s ”and those announced on friday, and those tariffs were phased in and people had more time to adjust. imports from canada or mexico are 3% of gdp but a 25% tariff would be about three quarters of a point of us gdp 2 -== the retaliation on the exports and the retaliation on the exports to mexico canada, though —— -£ can put tariffs 77 can put tariffs on 77 canada can put tariffsafiavarything they some canada can put tariffsdfiavarything they some sense that because they had some sense that parts of the trade are mutually and they did not want to beneficial and they did not want to themselves and it also help themselvesanditmillalsd an impact so would it be enough have an impact so would it be enough to push the us into a recession, not quite big big enough to book quite big enough. big enough to book or yes. quite big enough. big enough to book or es. ., . , ———— , w? ~ of the ?w? ? w?

that there may be a 10% tariff on petroleum products instead of the 25% tariff being applied to the other sectors, the council on foreign relations to see gas prices. gas prices rise at least $0.50 per gallon. in response to these new tariffs, both canada and mexico have announced plans to implement retaliatory tariffs on u.s. goods, but the details on those are still to come. prime minister justin trudeau has said that canada will respond, quote, forcefully but reasonably, and canada's former finance minister suggested targeted tariffs of their own in order to exert political pressure. her suggestion, published as an op ed in the financial times, suggested targeted tariffs on tesla products and products from republican led states. mexico's president, claudia sheinbaum, has also indicated that she is prepared to impose retaliatory tariffs, but hasn't provided details about what they might be as our trade partners determine their responses to these new tariffs. trump's new trade plan, now in effect today, has the potential to reshape decades of complex, hard won international trade deals on which we've all come to rely. >> muddy p

council. >> on foreign relations senior vice president. >> shannon o'neill. >> all right, everybody. kelly, i'm. >> going to begin with you. >> can you help. >> make sense of the explanations here? because because there have been so many about what these. >> tariffs are supposed. >> to accomplish. >> well. >> the. >> confusion. >> if any of us. >> and our. >> viewers are. >> experiencing it is warranted. >> because there. >> have in fact. >> been many different. >> data points. >> many. >> different comments made that are. >> not all coming together. >> to make. >> this. easily understandable. the president, we know. >> has a. >> long time. >> support for the idea. >> of using tariffs. he has employed them before. >> and he is doing so now. and it. >> is in. >> rendering the. >> kind of response. from mexico and canada are two closest neighbors and allies. to have a flurry of activity to. >> try. >> to get at the heart of this. what is. unclear is what specifically. >> each of our. >> neighboring countries could do. to prevail. >> upon president trump to not go forward with this. >> i asked him on friday in the oval office, is this a negotiation? he said n