there has never been a trade deal as bad as nafta. >>> nafta has been such a disaster. >>> nafta haseen a disaster for this country. >>> we have nafta, it's a disaster. >>> nafta was a disaster. >>> nafta is probably -- >>> the worst economic trade deal ever signed in history. >>> nafta is one of the worst deals signed by our country. >>> nothing is bad as nafta. >>> nothing can be as bad as nafta. >>> nafta is a bad, bad, bad deal. >>> we are going to renegotiate nafta to make it better. and if they don't agree, we will withdraw. >> so, it is what he is saying now. joining us again jim accosta at the white house. these phone calls to mexico and canada, do we know the details? >> reporter: what we know, anderson, it is important to preface this earlier in the day yesterday white house officials were saying anonymously to the reporters the president was considering signing this executive order to declare his intent to renegotiate or withdraw from nafta and then he had these phone conversations with the leaders from mexico and canada and then came the statement he was not going to term

unhappiness with nafta was a signature campaign issue. >> i'm going to renegotiate nafta, one of the worst trade deals ever signed in the history of our country, perhaps the worst ever signed in the history, frankly, of the world. >> yang: the move comes as the administration gets tough on trade as it nears the 100 day mark. this week the white house announced new tariffs on canadian softwood lumber imports, and the president said canada was blocking access to u.s. milk. >> now if i'm unable to make a fair deal. if i'm unable to make a fair meaning a fair deal for our workers and our companies i will terminate nafta. >> yang: while the president said negotiations are starting today in fact, the u.s. must give legal notice of its intent to renegotiate. then comes a 90-day period of consultation before any talks can officially begin. for the pbs newshour, i'm john yang at the white house. >> woodruff: now, for one perspective on nafta and the latest signals from the white house on american trade negotiations, i spoke with representative tim ryan, a democrat from ohio who agrees with th

nafta has been such a disaster. >> nafta has been a disaster for this country. >> nafta was a disaster. >> nafta is probably -- the worst economic trade deal ever signed in history. nafta is one of the worst trade deals signed by our country. nothing is bad as nafta. nafta is a bad bad bad bad deal. >> we are going to renegotiate nafta to make it better. if they don't agree, we will withdraw. >> that is what he's saying. these phone calls to mexico and canada, do we know these details? >> earlier in the day yesterday, white house officials were saying anonymously to reporters the president was considering signing this executive order to declare his intent to renegotiate or withdraw from nafta and then had these phone conversations with leaders from mexico and canada and then came this statement saying he would not terminate nafta at this time. the president was insistent today he was not softening on this issue, here's what he had to say. >> if you check my campaign, my speeches i said i will either renegotiate or terminate. they asked me to renegotiate and i will. i think we will be s

announcer 1: as you heard, president trump said he will renegotiate nafta. after talking on the phone with the president of mexico and the prime minister of canada. the chicago tribune notes this came hours after saying to officials that trump was considering a draft executive order to withdraw the u.s. from the deal. prime minister trudeau talked about this at a press conference earlier today. we understand the white house is sending mixed messages about what it wishes to do with nafta. mr. prime minister, the president has treated he wishes he wishes-- tweeted to remain in nafta, but he is really to leave it -- willing to leave it. what is your take on conversations with him, where you feel americans are? justin trudeau: one thing i have said from the beginning it is truly important to have constructive, working relationship with the united states and with its government. this is something that matters deeply to our economy. it matters to workers and farmers across the country. it matters to all canadians in terms of the cultural family ties and connection

nafta such as the car industry. the trade pact has changed the way u.s. automobile manufacturers make their products. most u.s. models are made in parts -- implants -- are made from parts made implants across of the continent. untangling that web would prove costly for all three countries. >> let's speak to our man on wall street. trout and his indecision --trump and his indecision over nafta playing havoc with the markets. how are they reacting now there is finally a decision? >> it seems investors are getting used to trump changing his mind on significant issues. this is not the first time that the white house has mellowed their views on trade. trump never fulfilled his promise of labeling china a currency manipulator. that said, investors are optimistic since trump said he is open to renegotiating the trade agreement with mexico and canada rather than leaving nafta altogether. this isn't the first step in a long and confiscated process after the u.s. imposed a new lumber tariff on canada just last week. >> this i

and out nafta, trudeau said he is ok with negotiating nafta. he has tweaked it several times. don't want to seen it thrown out. they have a bit of a safety net giventhis trapeze show, it grew out of a bilateral deal that was in some way kicking in after donald trump or to pull the plug and back out. but canada does not want to get there. a lot of people think it is bluster. they think trump is in a negotiating position. like we see the terminal, canada is the number one buyer of u.s. goods, mexico among the top buyers. trump pulling out of nafta would dramatically affect some of the biggest customers, so there is a lot of people that think you do not want to do that. oliver: and the foreign ministry of canada said nafta has not started negotiations. it seems like there is a negotiation that they want to happen. scarlet: and they are starting that conversation. mexico needs to deal with his trade relationship with the united states. it is negotiating with the u.k. as well. they have a lot of pots on the burner now. what can you talk about what mexico wants to ensure in the trad

it actually doesn't focus completely on nafta itself. and we need healing in this hemisphere before we start looking around the world. the reality is, we know why the deficit is so bad. bad trade deals have led to a loss of nearly four million american jobs. and a deficit just last month, 43 -- $43.6 billion. president trump promised to trade -- a trade deal that would get americans back to work and reduce our deficit. instead our deficit with nafta and mexico and canada is 31% higher. it got worse than a year ago. hope the president understands the real urgency of stopping u.s. job outsourcing, especially in the manufacturing sector. and he should do more than pay lip service and he should really take a look at how thin his administration proposals have been on renegotiating this agreement. he should establish real goals and timetables for u.s. trade to drive policy that will fix these job-killing trade agreements and deliver real benefits for the american people. now, we have members who have been very active on this trade issue since

in the renegotiation of nafta, what are you unwilling to take off the table? how far are you willing to play with trump? >> first of all the challenge of having ten provinces with vastly different needs and perspectives isn't a downside for canada, think it is a tremendous advantage. i think we know the difference in perspective, different solutions, different approaches wrapped together in a similar value system on a drive for success for our families, our neighbors and future generations. it is one of the things that has made canada so successful over the past generations. why the world is looking for canada for good governance and getting all of the different balancing act that any country has to do with broadly different perspectives by its citizens wrapped around the same value scissor tremendous advantage. anytime we engage in international negotiations whether the finalizing of the free trade deal with europe that we just on the edge of moving forward with, there's always going to be a broad range of interests and concerns. the job of the federal govern

first up, president trump has been a big critic of nafta. now wants to renegotiate to the with our neighbors to the north and south. brian is here to explain, so much on the horizon. stay here. plus you get a free carfax® report with every listing it's perfect. start your used car search at carfax.com i am totally blind. and i live with non-24, a circadian rhythm disorder that can throw my days and nights out of sync, keeping me from the people, places, and things i love. the people i love have always been there for me. and now, i'm there for them, too. talk to your doctor, and call 844-214-2424 to learn more. kennedy: president trump may want to build a wall but he seems keen on tearing down nafta remember this. >> we are going to stop the tpp, totally renegotiate nafta, one of the worst trade deals ever made by mankind. kennedy: that speech was very sharp. it appears he will follow through, taking to twitter saying i received calls from the president of mexico and the prime minister of canada asking to renegotiate nafta rather than termina

brian: flips room to improve -- there is room toll improve nafta -- to improve nafta.xico makes a stink about products coming into the country. if we are looking at nafta reform the same way we are looking pat thank -- looking atm or healthcare reform. aught makes has transformed manufacturing. even if you scrap nafta it won't bring the jobs back. u.s. cpanies have to compete internationally. kennedy: american companies have to compete with foreign countries for customers. brian: growth in the world is happening overseas in terms of consume per base where you are going to sell your products. it's not just u.s. come any competing to sell those products. if our companies can't compete on costs with those companies they aren't going to grow. technological innovation helps us to do that. we are talking so as much about trade, we should be talking about labor rules that make it difficult to start and grow a business. we should be talking about the educational system to make sure our workers are able to come pete. kennedy: adaptization takes. you don't -- adaptation. you sho

a trump administration will renegotiate nafta. >> the trump administration will renegotiate nafta, believe me. we have the greatest negotiators in the world. we'll use you are great negotiators. liz: dr. paul, it seems the media continues to follow the narrative of whoever says it first without exact checking with the president actually said. >> that's a lot of work. you wouldn't expect them to do any work. i can think of this from my viewpoint. liked out that they were getting rid of it. i don't want regulations and tariffs and negotiations and wtos and all this business. i think we should just have free market and stay out of this managed care. trump was right about coming up short. but i'm not so sure we'll all of a sudden renegotiate and come out on top. that's just the way the system works. it's always worth the effort. but i don't think we should be naive and think we are going to negotiate and we are going to win all these battles. liz: what's happening with the media is their attitude is you shouldn't touch nafta. they act like you can't renegotiate nafta like it's been set in ston

president trump announcing he will not withdraw from nafta after all. the president slammed nafta on the campaign trail as a raw deal for american workers and said he would get out of it day one. in phone calls to canada's prime minister and mexico's president, our president said he wanted to improve nafta instead of scrapping it. the president said it is my privilege to bring nafta up to date through renegotiation. i believe the end result will make all three countries stronger and better. >>> president trump is already withdrawn from another huge trade pact. it was already in the works. the president's decision to stay with nafta came hours after a senior administration official said the white house was considering pulling out of the trade acord. top republicans reacted to that news by warning it would be a disastrously bad, reckless idea. trade is a. developing theme in this white house, a focal point of a war room the white house set up. the president is expected to make more trade move this is week and well beyond. >> it has all the promises and th

nafta has not worked as well as it should. >> [indiscernible] that is covered by nafta? sec. ross: that is one of the problems. >> why not try to resolve this in a not so public fashion? you are trying to flex the muscles of this administration. what would you say to the layman out there who say why is president trump messing with the canadians now? sec. ross: it is not a matter of president trump messing with the canadians. we believe the canadians a correct practice. just like steel dumping from china, or any other trade and fraction. >> you are trying to make a point, publicly. sec. ross: we make it publicly all the time. there has been so much public interest in gendered by the two, dairy and lumber, we felt it was good to clarify. >> during the presidential campaign, people finding candidate trump, we were focusing on mexico, now all the sudden we are hearing issues in canada. can you tell us why they shift up north? sec. ross: we had no way to know that the canadian dairy people would take the action that they did, nor did we have any way to know that the lumber dispute

or can you just tweak nafta? where are you on that? >> i think it need much more than a tweak. i think the president has made that exceedingly clear. but what has changed as in all dealing between the administration and congress, it's been frustratingly slow. they have been very, very slow on completing the hearings and voting on our new u.s. trade representative. that's not helpful. second in terms of nafta, we need congress' permission to enter into the fmal 90-day letter into the record so we can begin the formal negotiations. we were trying to get that done before the easter recess. when were not able to do it. we hope to get it done as soon as possible after. bad trade deals shouldn't be allowed to sit. so it's quite unfortunate the way congress has been working has been to slow walk these activities. maria: you make an important point. a lot of people are saying why should we trust the administration is going to get trade done and get tax reform done when we know healthcare just failed. >> i don't know that healthcare has failed on any kind of. >> permanent basis. one par

but we should certainly talk about nafta. laura mentioned that there's some possibility that the president could even withdraw from nafta without congressional support. nafta was one of the cornerstone issues in the trump campaign and so, warren, what do you expect with respect to renegotiation or even withdrawal from nafta? >> well, the signals have been all over the place. like about three or four weeks ago, usgr floated a draft of negotiating objectives that promptly and not surprisingly immediately leaked. it was heartening for a free trader like me that the objectives seemed relatively limited, and it started out with a very heart-warming paragraph about the benefits of nafta and the jobs and everything like that. but i think what that suggests is it probably was written by career usgr staff, and it's not clear that steven bannon or peter navarro saw it. and if you heard or read the transcript of president trump's remarks yesterday, a couple days ago in wisconsin when he announced his buy american, hire american initiati

nafta was a disaster. >> nafta was a disaster. but we're staying in. never mind. do you think there are any political problems with him, not with republicans but the democrats who joined him in. >> i think that donald trump, everything is a negotiation. he has never been a fixed ideological candidate. he's always been a floating populist. if you believe serving a negotiation urgs move the goalpost to a starker position and then you see what you can get out at the end. i think that's what he was doing with the prime minister and president. he said he's reserving the rights to pull us out. if you don't think he's a diplomat, you should give him credit for working with canada and mexico. if you want to pull out of nafta today, you can be disappointed. >> what about this idea that he might not believe in anything? that he'll say anything. we could have played 45 minutes of tape of him railing against nafta. a deal signed by president cleanse and supported by hillary. trade creates strange bedfellows but nafta was up there with the wall in terms of something that even

disaster and nafta was a disaster and continues to be a disaster for our country. on tuesday, i signed an order to enforce the buy american laws, and stop foreign countries from stealing contracts from american companies and essentially from american workers. today, i am directing the department of commerce to immediately prioritize the investigation that began yesterday and really long before that, because wilbur ross and i have been working on this for a long time. into foreign steel arriving into our markets and to submit a report on the effects of the foreign steel products on the national security of the united states. it is not just the pricing, it is not just the employment, it also has to do with the national security of our country which people never talk about. i talk about it. maintaining the production of american steel is extremely important to our national security and our defense industrial base. steel is critical to both our economy and our military. this is not an area where we can afford to become dependent on foreign countries. we have products w

nafta was a disaster. >> ari, nafta was a disaster but we're staying in. never mind.o you think there's any problems not with the republicans, but the democrats that joined this year? >> i think to donald trump everything is a negotiation. he's always been a floating poppialest. and if you believe everything is a negotiation, you begin by moving the goal post and you see what you can get out of it at the end. i think that's what he was doing with the president of mexico and the prime minister of canada. that's what his objective is to see what he can get in a renegotiated nafta. if you don't think he's a diplomat, you should give him credit for working with canada and mexico. you can be disappointed if you pull out today. >> what about this idea that he might not believe in anything? that he'll say anything? we could have played 45 minutes of tape of him railing against nafta, supported by crooked hillary. i mean, the last president a democratic president supported the tpp. trade creates strange bed fellows but nafta was up there with the wall that evenedetract believ

trump says he wanted to improve nafta insteadping it. >> he said it is my privilege to bring nafta up-to-dateenegotiation. i believe that the end result will make all three countries stronger and better. the president trump has already withdrawn the u.s. from the transpacific partnership. >> the president's decision to stay with nafta came hours after a senior administration official said the white house was considering pulling out of the trade accord. top republicans warned it would be a disastrously bad reckless idea. trade is now a developing theme in this white house. a key focal point of a war room that has now been set up, the president expected to make more moves on trade this week and wie we'll be on. >>> the man who won't release his tax returns wants on to cut your taxes. but his tough economic advisors can't say what it means for a family of four $60,000. steve mnuchin says there are certain aspect that the president considers nonnegotiable. >> the core principles of this, we've been meeting with the house and senate they agree 100%. core businesses make business rates competitive,

the president will not terminate nafta for now.a new tax which is the non-details. our investors are stuck in a cycle of buy the rumor, sell the news. macro open the door for ecb is. the decision of

and nafta, if you recall at almost every campaign stop he said nafta was the worst deal ever made.so what donald trump has now said after 100 days in his presidency that after concluding for ten years that this was the worst deal that america ever made, he is going to keep it. >> i mean, this is happening after the cnn, orc poll, i'm not sure if you saw the poll that came out just observe an hour ago. his handling, the presidency, the approval rate is 44, the lowest since eisenhower, since they started polling. all of this flip-flopping, playing into at least the promises he made on the campaign trail, he has not been able to keep them yet, some of them i'm sure he will be able to keep. he has not been able to repeal obamacare, that is showing up in his approval ratings and his handling of his country. >> i would think so a general incompetent reputation, a smart business who said he can do all this, and everybody else was morons, and to most of us who look at this obviously, and carefully, government and politics is hard. the reason why some of these things don't get solved, they'

there's never been a deal so bad as nafta. it is a one way high way out of this country for our jobs and for our money and we are going to re-negotiate that one very quickly. >> so we'll have to see what the negotiations on nafta bring. meanwhile, a very busy day here at the white house. probably the highlight of the day will be the visit on argentina's president and first lady of argentina to the white house. also, the top staff is holding a long awaited meaning on whether to withdraw from the partiis climate court. and i think the other thing we have to say today is there is a lot of hope at the white house that the house of representatives will finally get together on a health care vote. back to you. >> they are counting votes as we speak. we have a new look on where the president stands 98 days into the administration. on the one hand, this president has set a record. >> he has, indeed. on the other hand, he might not like the reason. the president had a 44% approval rating according to a brand-new cnn poll. that's the low

where do you rate the dangers of nafta? you came in making these big statements, and at this precise time, it does not seem there is a way of getting rid of nafta. p.m. trudeau: one of the precise things we did -- and this is not unique to this particular administration -- any incoming administration needs to hear from canada on how important the canadian-u.s. trade relationship is because it is often overlooked or taken for granted by american policymakers and lawmakers. we did a really good job of highlighting how many good, middle-class jobs on both sides of the border, but particularly the united states, depend on free tde with canada. the argument we have made about trade being good for everyone, about amplifying our success on either side of the border -- the auto pact being a great example of that where a part can cross the border six times before ending up in a finished automobile. we have a relationship unlike just about anyone else in the world between two countries, and a lot of that is based on mutually benefici

. >> and the president on pulling out of nafta. i'm trying to make sense of it all with canada's foreign minister. >>> and forget the first 100 days, how about the next 265? to me, the president's first year is the most important milestone. a great group of scholars join me to discuss what we have seen and what we can expect. but first, here's my take. there are so many unusual, unprecedented aspects of donald trump's first 100 days in office that's hard to figure out where to begin. the number of promises unfulf l unfulfilled the staggering. but the policies unfulfilled are those that have been reversed entirely. never in the annals of the presidency have there been so many flip-flops so fast without any explanation. trump announced many of these reversals cavalierly. as he said in late february, nobody knew health care could be so complicated. i suspect that the next education will be in tax policy. trump's proposals outlined this week are breathtakingly irresponsible. they would add trillions of dollars to the debt and are not e

is nafta being ditched by donald trump or not?rump administration and he has made it clear both to prime minister trudeau and to president nieto that he will renegotiate the trade agreement. but the big question is, when will that happen? from the american perspective in orderfor happen? from the american perspective in order for that negotiation to happen the trump administration needs to advise congress. congress apparently has not yet received that official notification. there was clarification asked today at the white house briefing by one of the white house briefing by one of the white house briefing by one of the white house reporters. the press secretary for the white house sean spicer made it seem as if the president is in fact talking to congress, has been in talks with congress, has been in talks with congress about that but whether that signals official notification no one is really sure. has everyone involved —— as everyone involved in the brexit process is finding out, negotiating or renegotiating deals isa negotiatin

have happened without nafta. whether it was reinforced by nafta. the reality today is that that is a north american region. if we look at the electricity grid, the gas pipeline, the train rails, what you see isn't an integration process that doesn't recognize physical borders. behind the north american competitiveness, lives that's map that we see now and that is the starting point for this critical juncture. that is a map that reflects the fact that every single day, one million crossings at the border take place. legal crossings at the border. behind each one of those crossings, there are people that are making a good life and generating prosperity. 370,000 vehicles cross the border every day. if one learns one thing in economics, it is that if you are voluntarily transacting, both are happy, one buying one selling. that's means that there must be a lot of happy people there given the amount and the volume of the trade that is happening in there. there is no other border in the world that is as heavily transite

even if you scrap nafta is not going to bring the jobs back. u.s.es have to compete internationally. if the labor costs are hi, they will automate the work. kennedy: that is the point you make, american companies have to compete for foreign companies for foreign customers. it's very difficult to do that. >> the growth in the world is happening overseas in terms of consumer basin where you will sell your product. it's not just u.s. companies competing for those companies. it's companies in china and india. if our companies can't compete on cost with those companies it won't happen. they won't grow, they will decline. they have to be up to do that. innovation helps us to do that. we have to have a workforce that's able to work in that economy. we are talking so much about trade. we should be talking much more about labor rules that make it difficult to start and grow a business. we need to make sure our workers are able to compete to work in these high-tech industries. kennedy: and adaptation. obviously the world is changing and you don't have to be a

a nafta challenge could be filed in response to u.s.fs that were slapped on imported softwood lumber from the country. i asked wilbur ross earlier about the relationship between the two leaders, president trump and justin trudeau. anythingt know that has changed in the relationship between president trump and mr. trudeau. whatever the relationship between the two of them, trade violations are trade violations and will be dealt with. david: let's get some insight from michael mckee. i tried to get at this with the secretary but did not get a lot of insight. why is this happening now? president trump said there was interest in tweaking nafta. on ael: a decision was due complaint by u.s. lumber producers. the 100 day anniversary coming up friday had something to do with why the president is doing this now. basically, this is a dispute the goes back to 1981. they have had a series of rotating trees they kept the issues under wraps for years. -- rotating treaties that kept the issues under wraps for years. one of them expired in october of l

tell you is that nafta is a disaster. what difference does it make? we will fix nafta, or we'll term 98 it and start all over again. >> reporter: today, prime minister trudeau warned the president against acting irrationally. >> a disruption like cancelling nafta, even if it theoretically eventually might lead to better outcomes, would cause a lot of short- and medium-term pain. >> reporter: 10 years ago, the u.s. trade deficit with calendar ran about $70 billion. last year, only $11 billion. scott, it appears big companies in both canada and mexico have concluded that on nafta, the president was mostly bluffing and that tough trade talks are weeks if not months away. >> pelley: major garrett at the white house. we turn now from major to minors, coal miners, watching to see whether the president keeps his promises. here's jim axelrod. >> reporter: they're worried about a lot of things in the coal mines of western pennsylvania, but how the president is doing at 100 days just isn't one of them. >> rome wasn't built in a day

steve bannon, peter thnavarro w want to pull out of nafta.hey were pushing for this other heads pulled back and said it would be pretty destabilizing do this this way. let's get them to the table. renegotiate pieces of this. what those pieces are we don't know yet. cooler head press veiled and said we can't do this now. >> mark out of 10 for the first 100 days? >> maybe a 5 or 6 with room to improvement. some good things on china, good talks with china business climate is good. has not delivered on healthcare. long path on tax cuts. incomplete. >> ben, great stuff. ben white of politico. >>> breaking overnight, united airlines announcing big policy changes following that now infamous incident where a passenger was dragged off one of its flights earlier this month. phil lebeau joins us with details. >> these are the change, is that united said it would be putting into effect. once this incident happened, about 2 1/2, 3 weeks ago immediately the airline said we'll come up with a new passenger policy by april 30th. overnight they released those

that's what's going to happen on nafta. joining us now, peter, senior fellow at the ethics and public policy center. he worked in the last three republican administrations and was a senior aide to president george w. bush. also josh barrow, senior editor for "business insider" and an msnbc contributor. josh, joni ernst in that town hall today, whenever they were talking about donald trump the person, not a single positive thing to say. and it was more than a struggle to find policy agreements for her with donald trump, especially when you consider just how important nafta has been in the trump world of promises. that we heard him remake today. >> on the personal stuff, i don't understand why more republicans don't take this strategy. they go down these blind alleys defending his decisions not to release his tax returns. i don't think you need to defend that. people didn't vote for donald trump because they love he didn't release his tax returns. i understand why republicans don't want to go out and attack him viciously but

now nafta.is more complicated and different than i thought it was. >> that is exactly right. in my interview with the president, i wanted to understand why he changed on nafta. it had been a signature campaign promise to get rid of nafta and terminate nafta. he thought it was a bad deal for years. he decided to renegotiate with canada and mexico and hit the pause button. that was a sudden shift in the deal. he is looking forward to terminating nafta. on saturday, he would make a big splash and decided not to because he had phone calls with the canadian prime minister and mexican president. he felt like doing so would setoff a bomb on their relationship. they would have such tension between them. he could not do it. >> that is fascinating, philip. he sometimes is susceptible to the last person he talks to and certainly with the nafta illustration that you given us in your reporting, that holds true. jeff, back to you. the president gave you something. a prop to prove a point. you have it? what wa

won't terminate nafta at this time. prime minister trudeau speaking in french and english, saying that nixing nafta would cost u.s. jobs. again, nixing nafta would cost u.s. jobs. that's his message to the u.s. presidentest. also says canada has a broad range of options in nafta talks. and in previous parts of the speech, he said that kang and the u.s. agreed that 1/2 can can be improved and canada is happy to engage -- agreed that nafta can be improved and canada is happy to engage in the discussion. how investor sentment has changed and what the outlook is for the next year. ♪ vonnie: this is "bloomberg markets." asset management has released its annual insurance survey which shows that insurance this year are more optimistic than last. the summary says insurers' dominant concern remains achieving adequate concerns but they believe the s&p 500 index returns will be positive in 2017. joining me now is goldman sachs' global head of insurance asset management. bloomberg's, little bitty. i'll turn to you first. it sounds

you have the obvious third party in nafta, which is mexico.s out of nafta, is that an area where mexico and canada could begin to go at it alone? p.m. trudeau: we are always going to look through whatever structures exist, and how we create better opportunities to trade, and to work with our closest partners. and mexico will always be an important and close partner for us. as we engage in nafta discussions, we will see how it goes, but there is certainly things on which canada and the u.s. are uniquely compatible. other things in which canada and mexico will be able to find common ground and common approaches. other things in which it will be a u.s.-mexico conversation. this is all natural for moving forward in responsible, thoughtful ways. john: do you think it's a legitimate subject to bring up -- nafta and the idea of redesigning it? is that something we should look at? p.m. trudeau: i think nafta has been improved a dozen times over the past 20 years. we're always looking for ways to improve the benefits for all of our citizens. one of the

is that a response to nafta? >> i think possibly but also the peso dropped in mexico and it meant people's savings were diminished and many were bankrupted. that increases the immigration flow. there are other things going on in mexico at the same time which is restructural of the economy and the government. some of this begins after the debt crisis of 1982. so, mexico defaulted on its debt. in order to renegotiate loans, it had to follow certain conditions set down by the international monetary fund, the world bank and others and they included a series of restructuring such as privatizing state-owned enterprises, reducing the size of the government, and opening tariffs/the border. some already began. the opening of the tariff borders began when mexico joined the earlier version of the world trade organization. there had been some lowering of tariffs but even with nafta, the national association of poultry producers, managed to get a phase out of 10-15 years on some poultry parts -- legs and concords. so, that me

but pulling america out of nafta would come as still as something of a surprise.largest trade agreements in the world, signed originally in 1994 by president clinton. the white house has confirmed that the head of the national trade council has drafted an executive order with steve bannon and it is now being reviewed. the canadian dollar and mexican peso have fallen on these news reports. the canadian and mexican share prices are also down. we werejoined by mexican share prices are also down. we were joined by the chief economic adviser for alliance. what you we were joined by the chief economic adviserfor alliance. what you make of these reports estimate it is part of these reports estimate it is part of these reports estimate it is part of the negotiation approach that the trump administration is taking. of the negotiation approach that the trump administration is takinglj think the probability of the us pulling out of nafta is very low. however, they will use this to get attention from mexico and canada to try to reform certain elements of nafta. are you saying

the white house just yesterday was all over the place on nafta. is nafta going anywhere?where at its core. i think there may be some tweaking, some renegotiations, whatever. if you got rid of nafta, the price of an average pickup truck in this country would go up by $3,000. nafta has produced enormous benefits for many americans, admittedly at a cost for some who lost their jobs or took a cut in pay. so i think at the end of the day we're talking about a renegotiation. i'd add one other thing. this canadian tariff everybody talks about has actually been in the works for years. if you want a fun fact to take home, the first tariff we ever put on in this country was 1789 on canadian timber, the same issue we are discussing at this moment. >> a fun fact of the morning by steve rattner. >> so you have to separate all this out. look, at the end of the day trump said he was going to get rid of nafta in the first 100 days. now when the peso and canadian dollar started to collapse, he realized that wasn't such a good idea. >> we kept being told yesterday speaking to economists' o

is this something you're trying to do as a bit of a pr thing to put nafta on notice? how should we read your aggressive statement? a it's not routine in that billion dollars of countervailing duties does not happen every single day. --s is a large >>>> it is not unprecedented. it has happened before. >> we made the release the way we made the release. >> why did you make it that way? >> it seems appropriate under the circumstances. america -- the largest trading partner of india under prime minister modi and now we have a new administration with new thinking and this administration, what is the future of trade between the u.s. and india? >> u.s. does not have a free trade agreement with india at this point so the trade relations between u.s. and india are governed by the wto rules. there's nothing in the actions we have taken the changes that. increased,prices what do you tell the average consumer in the united states if prices are going up, they did not bargain for that? >> i don't know what they bargained for. i'm sure nobody in the united states bargain for people

we were for bernie, and we were against nafta. back in flint, believe me, we've been against nafta for 25 years. >> of course. >> so it's -- >> but here's my question. doesn't it feel in a weird way, it's like the basic idea of like the populist insurgent versus the establishment. part of the first 100 days, it's true, the establishment does kind of control washington. >> right. >> at some level on these certain things, right? it's like he started getting the calls and he got gary cohn, and it's like you can't undo nafta. >> exactly. i think all these shows this week, everybody, you know, we're here tonight talking about the first 100 days of trump. but what about the first 100 days of the resistance? >> i'm glad you said that because that's exactly the thing i think is more interesting and i want to talk about if you will stay here. >> i would love to. >> i want to talk about that because actually the biggest story of the first 100 days isn't trump, i think. it's actually civil society. let's talk about that after this break. sti

i was going to terminate nafta as of two or three days from now. the president of mexico who i have a very good relationship with called me and also the prime minister of canada, who i have a very good relationship and i like both of these gentlemen very much. they called me and they said rather than terminating nafta, could you please renegotiate? i like them very much, i respect their countries very much, the relationship is very special and i said, i will hold on the termination, let's see if we can make it a fair deal because nafta has been a horrible deal for the united states. it's been very good for canada and mexico, but it's been horrible for the united states. if you check my campaign, any of my speeches, i said, i'll either negotiate or terminate. they asked me to renegotiate, i will. i think will be successful in the renegotiation, which frankly would be good because it would be much simpler. we have to make a deal that's fair for the united states. they understand that. i decided rather than terminating nafta, which would be a pretty b

president trump reverses his position about leaving nafta. mr.rump told mexican and canadian leaders he will not pull the utz out of the nafta agreement. now on the campaign trail, trump called the deal a disaster and blamed nafta for americans losing jobs. >>> if you drink energy drinks, research suggests they are more dangerous than other caffeinated drinks. a study found consuming four cans of energy drinks resulted in abnormal changes in blood pressure and heart rhythm within two hours. >>> a bill in michigan is set ban police from legally having sex with prostitutes during undercover stings. state lawmakers in lansing michigan say the state is the last one that offers police officers immunity from prosecution if they have paid sex with prostitutes while undercover. the legislation now moves to the statehouse where a similar bill has been introduced. >>> singer demi lovato under fire for promoting a weight loss tea containing a laxative that could irritate the colon. she posted a photo with herself and a jug of teenie tea. fans pointed out th

so, you know, he's going to rip up nafta except, no, actually he's not going to rip up nafta because you know who that would hurt? that would hurt a whole lot of those -- >> farmers. >> agricultural states, right? he is learning. >> you mean with export as well as import? >> imagine that. >> these are things kids learn in high school. >> on that point, i talked to a bunch of his good friends, the people he kibitzes with around the world. i asked chris ruddy from florida, what's the biggest thing trump learned that he didn't know. and he said, that there is a congress. he was sort of joking, but he wasn't really joking. >> it's called article i of the constitution. >> that there's a congress, and just because you're president, you don't get to run that. >> okay. >> you know, it's pretty basic. >> it explains why he has no accomplishments, because our way of judging the first 100 days scorecard has always been legislative. fair or not, if a president gets a bill through, that's a victory. president obama had to contend with the great recession when he came in. he went moving on that pr

but first president trump's about face on nafta. what was it that led him to renegotiate instead of pull out? new details next. yeah, i just saved a whole lot of money by swhuh.ing to geico. we should take a closer look at geico... you know, geico insures way more than cars. boats, motorcycles... even rvs! geico insures rvs? what's an rv? uh, the thing we've been stuck on for five years! wait, i'm not a real moose?? we've been over this, jeff... we're stickers! i'm not a real moose? give him some space. deep breaths, jeff. what's a sticker?!? take a closer look at geico. great savings. and a whole lot more. i am totally blind. and i live with non-24, a circadian rhythm disorder that can throw my days and nights out of sync, keeping me from the people, places, and things i love. the people i love have always been there for me. and now, i'm there for them, too. talk to your doctor, and call 844-214-2424 to learn more. >>> president trump offering new insight as to why he decide today renegotiate nafta rather than pull out like he prom

that trip was canceled over tensions amid nafta which are still going on right now.nteresting relationship between the two. they were somewhat business partners in the real estate world. goes back about three decades but during the campaign for president, hillary clinton was more popular within argentina. many people watching this to see the friendship these two had from back in the day will be sort of reignited. >> reuters going with headline that trudeau of canada told the president that nafta withdraw would cause job losses and instability on both sides of the border. we're watching that. let's get to david faber. hey, david. >> hey, carl. we are here again and joined now by keith meister. makes the decisions in terms of what they're investing in and when they get active. nice to see you. thanks for joining us. you're going to be presenting later although no new ideas. some people are doing new ideas. you've got some coming is my understanding. we may hear from you in the not too distant future i guess. >> we'll be presenting an idea we've been working on for the