japan, china, malaysia, vietnam, and singapore. each of the countries had a very different point of internal economic development, there was a desire to participate in a trade agreement. there was also anxiety. those are the kinds of issues being negotiated with sensitivity to the fact that if we get the countries to credible and enforceable high-level rules, it is good for each of us individually and it is good for us locally. it is not good for us if the rules are broken and we need to be vigilant. when we make agreements, the agreements are kept. >> you have to get to work before the stock markets open at 9:30 a.m. i want to thank you for joining us today and think the council on foreign relations for holding this event. [applause] >> we will have more on the u.s. economy in just a moment. a little bit about our newsmakers program. tomorrow the director of the consumer financial protection bureau is our guest this week. he talks about how the financial marketplace is treating consumers. >>

japan, china, malaysia vietnam, and singapore. each of the countries had a very different point of internal economic development, there was a desire to participate in a trade agreement. there was also anxiety. those are the kinds of issues being negotiated with sensitivity to the fact that if we get the countries to credible and enforceable high-level rules, it is good for each of us individually and it is good for us locally. it is not good for us if the rules are broken and we need to be vigilant. when we make agreements, the agreements are kept. >> you have to get to work before the stock markets open at 9:30 a.m. i want to thank you and the council for holding this event. >> national security writer james bamford will react to president obama's speech. plus we'll be looking for your calls, tweets and e-mails on the issue beginning live at 7:00 a.m. eastern on c-span. [captioning performed by national captioning institute] [captions copyright national cable satellite corp. 2014] >> so the situation then is very similar to the c

japan, china, malaysia, vietnam, and singapore. had a very countries different point of internal economic development, there was a desire to participate in a trade agreement. there was also anxiety. those of the kinds of issues with negotiated sensitivity to the fact that if we get the countries to credible and enforceable high-level rules, it is good for each of us individually and it is good for us locally. it is not good for us if the rules are broken and we need to be vigilant. will we make agreements, the agreements are kept -- when we make agreements, the agreements are kept. >> you have to get to work before the stock markets open at 9:30 a.m. [applause] >> epa administrator testifies about the president's climate action plan. fcc chairman talks about the .nternet and net neutrality i hearing examining the health care a lot implementation. -- a hearing examining the health care a lot implementation. testified thursday about the implementation of the health care law. he defended his previous testimony about the health care --

i was in japan, china, malaysia, vietnam and singapore. in each of the countries come at a very different point of into economic development, there was a desire to participate in a high standard trade agreement. there was also anxiety about what does that mean in terms of the domestic economy, what would be the transition rules? what would be the reflection of the fact that countries don't come in exactly the same position? those are the kind of issues that are being negotiated in the tpp. sensitivity to the fact if we get all of the countries to credible an enforceable high level roles and it's good for each of us individual and it's good for us globally. but it's not good if the rules are broken and we need to be vigilant as we are to make sure that when we make agreements, the agreements are kept. >> secretary lew, you've got to get to work before the stock market opens at 9:30 imacs i want to thank you for joining us today and also thank the council on foreign relations for holding this event. >> thank you very much. [applause] >> [ina

we have four operations, singapore, vietnam, malaysia and thailand.significant him a -- thailand has our most significant. 4 million in retail, small business and corporate customers in 700 locations. very much on our minds now given the political uncertainty. but a very well-managed bank. i was monitoring it this morning. all of our branches are open and thailand, all 700 coming could in the downtown core. we have a knack of business continuity plan to make sure we continue to service our customers through this potential unrest. >> we are looking right now at live pictures from the protest in bangkok. we are monitoring it closely. certainly those with investments in bangkok are monitoring it. committingn investor significant capital to this typically ahat is stable country, does this concern you, that the political instability at a moments notice can upset the balance? >> scotia bank operates around the world. we have a diverse asset mix. against anys safe particular political turmoil. specifically and thailand come if you study the economic road pat

looking at the weakening of our -- of food safety supply, critical issue as it has to do with vietnam and malaysiaand we are going to potentially cut off access to people in other countries to affordable drugs. this has a very-reaching effect. >> in his state of the union address, the president absolutely needs to address income inequality, raising the minimum wage, extending unemployment benefits, no doubt. all good things to bring up when talking about good-paying jobs here in this country. but he needs to realize none of these things are going to be possible if the transpacific partnership is passed, and it all starts with the stamp of approval of fast-track legislation, fast track trade promotion authority. not good. we've talked about it a lot. but we're at the 11th hour right now. and this is a real chance for the president to explain to the country the upside of all of this. i don't think he can, because there are no ledgers of positive activity for america when it comes to international trade deals. there is no history to back him up. larry cohen is a communications director who has worked

will grow the fastest in the next 25 years, pricewaterhousecoopers says nigeria, vietnam, india, indonesia and malaysiaaterhousecoopers caveats everything saying they use a static analysis of the policies in place in countries today. they could do other things that would change their placement in the rankings over time. >> is there anything france and germany could do to stay in the top five? >> it's interesting. we have the conversation with pricewaterhousecoopers. what does the president in france do this week? it got lost in the whole issue of the scandal. the guy who campaigned on spending more, being socialist says he wanted to do tax cuts on businesses, cut spending, et cetera. >> that didn't get lost. weren't you watching us yesterday, i said even their guy figured it out before our guy. >> yes, yes. i did the story that day and we focused mostly on -- >> he realized maybe the private sector might be something we need to help out. >> it's amazing. >> it may eventually come across and go into d.c. >> this is not a fait accompli. >> are you looking at things like this when you decide about investm

malaysia's is 11%. the european union is 14%. vietnam is 17%. japan has an agricultural tariff rate of 23%. these countries all already have a number of trade agreements in place with other countries. that means we face restrictions while our competitors reap the benefits of the open market. we're on the sidelines while other countries are filling the orders and creating the jobs. trade promotion authority paves the way to lowering these barriers, and in some cases eliminating them altogether. of course, tariffs are not the only barriers our exporters face, and t.p.a. would help us address the others, too. countries also impose nontariff barriers, often claiming some illegitimate basis in science, and they have brought our industries to their knees. modern trade agreements address those barriers as well, and we can't get good trade agreements inked without t.p.a. in general, the u.s. abides by true science-based trade standards. this is less common, though, in the rest of the world, to say the least. trade agreements help bring export markets in line with the same kind of science-based stan