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May 31, 2017
05/17
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-- are a result of nafta or any other trade agreement. some of them are simply due to increased automation, robotics, artificial intelligence, things of that sort. and those are problems that will recur on an even broader beiges future. in the so no one is saying this is the silver bullet that solves every problem for the country. but it is one of the ones where we have some degree of control, and therefore it is one that very much should be addressed. a -- onet: do you have of the questions that a number thereple have raised is is a significant elections process happening in mexico. and obviously one of the candidates doesn't have the same kind of affinity for the u.s. capitalist system as the other. tot is the sensitivity having this conversation happening right in the middle of that domestic political challenge? sec. ross: well, we had hoped to have had it earlier, but it took longer to get congress to the point of the ninety-day letter. so it would have been preferable to have had it even earlier so that it was a little further separa
-- are a result of nafta or any other trade agreement. some of them are simply due to increased automation, robotics, artificial intelligence, things of that sort. and those are problems that will recur on an even broader beiges future. in the so no one is saying this is the silver bullet that solves every problem for the country. but it is one of the ones where we have some degree of control, and therefore it is one that very much should be addressed. a -- onet: do you have of the questions...
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May 20, 2017
05/17
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erik: an wilbur ross shares his thoughts on what needs to happen with nafta. >> nafta is an old agreementd obsolete agreement. it does not reflect the current status of either the mexican economy or the american or the canadian. ♪ ♪ erik: welcome back to a special edition of "bloomberg best." from the milken institute global conference. i am erik schatzker. president trump has promised to overhaul financial regulation, health care, and the tax code as part of his vision for america's future. john micklethwait spoke with treasury secretary steven mnuchin about the administration's plans to spur growth and enact reform. mr. mnuchin: i think there are a lot of things we need to do to create economic growth. the tax plan is one of them. we think reform of the tax plan, middle income tax cut, making businesses more competitive. we also need regulatory relief. too many businesses are held back from making investments because of excess regulation. we also need fair trade. john: firstly on the deductions, you have done a lot about getting rid of most deductions. it distorts markets, pushes money
erik: an wilbur ross shares his thoughts on what needs to happen with nafta. >> nafta is an old agreementd obsolete agreement. it does not reflect the current status of either the mexican economy or the american or the canadian. ♪ ♪ erik: welcome back to a special edition of "bloomberg best." from the milken institute global conference. i am erik schatzker. president trump has promised to overhaul financial regulation, health care, and the tax code as part of his vision for...
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May 7, 2017
05/17
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. >> end of the commerce secretary shares his thoughts on what needs to happen with nafta. >> nafta is an old agreement, it is an obsolete agreement. it does not reflect the current status of the mexican economy, for the american, or the canadian. >> welcome back to a special edition of bloomberg best from the melkin institute global conference. president trump has from us to overhaul financial regulation, health care, and of the tax code as part of his vision. john micklethwait spoke with the treasury secretary steven mnuchin about the administration's plan to spur economic growth an an act form. >> there are -- and enact reform. >>there are a lot of things we ne to do. sweeping economic change is one of them, the tax plan. we need regulatory relief. too many businesses are held back from investment due to excess regulation. we also need fair trade. >> on the deductions, you have done a lot about getting rid of most of the deductions. one that you held onto was mortgage tax relief. many people have got rid of that. it distorts the market and pushes money to property. why didn't you ch
. >> end of the commerce secretary shares his thoughts on what needs to happen with nafta. >> nafta is an old agreement, it is an obsolete agreement. it does not reflect the current status of the mexican economy, for the american, or the canadian. >> welcome back to a special edition of bloomberg best from the melkin institute global conference. president trump has from us to overhaul financial regulation, health care, and of the tax code as part of his vision. john...
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May 1, 2017
05/17
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by nafta. but the reality today is that that is a north american region. the reality today is if we look at the electricity grid, if we look at the gas pipelines, if we look at rails, what you see is an integration process that really doesn't recognize physical borders. behind the north american competitiveness, it lies that map that we see now. that is a starting point for this critical juncture that ambassador gutierrez has referred to. that's a map that reflects a fact that every single day one million crossings at the border take place. legal crossings at the border. and behind each one of those legal crossings, there are people that are making a good life. there are people that are generating prosperity. 370,000 vehicles cross the border every day. if one only learns one thing in economics, it's that if somebody is buying and somebody is selling, both are happier. both are better off after that transaction, that means there must be a lot of happy people there given the amount and volume of
by nafta. but the reality today is that that is a north american region. the reality today is if we look at the electricity grid, if we look at the gas pipelines, if we look at rails, what you see is an integration process that really doesn't recognize physical borders. behind the north american competitiveness, it lies that map that we see now. that is a starting point for this critical juncture that ambassador gutierrez has referred to. that's a map that reflects a fact that every single day...
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May 29, 2017
05/17
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where do you rate the dangers of nafta?came in making these big statements, and at this precise time, it does not seem there is a way of getting rid of nafta. or there is less. p.m. trudeau: one of the first 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, is 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 the free trade with canada. so 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 given part can crisscross 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 o
where do you rate the dangers of nafta?came in making these big statements, and at this precise time, it does not seem there is a way of getting rid of nafta. or there is less. p.m. trudeau: one of the first 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, is we did a...
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May 5, 2017
05/17
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political rhetoric surrounding nafta continues. on team trump's evolving trade agenda. brad delong from uc berkeley joins us. youi ask your view on what think donald trump has not notified congress yet of his plans for the renegotiation of nafta and kicked off this 90 day review process? he is blaming the democrats. no idea why trump does pretty much anything that he does, with respect to nafta. idea why first son-in-law jared kushner said last week that donald trump was on the point of aggregating nafta and that if he had done so, he would have left us in a good place. i have no idea why it secretary ross's principal beats with the nafta revolve around canadian cheese and lumber. why last fall, donald trump claimed nafta had destroyed american manufacturing jobs, when everything i have seen suggests it was a booster to the competitiveness of american manufacturing industries like automobiles, which were able to build a north american division of labor to compete much more efficiently nafta,yota and bmw after before. it is a great
political rhetoric surrounding nafta continues. on team trump's evolving trade agenda. brad delong from uc berkeley joins us. youi ask your view on what think donald trump has not notified congress yet of his plans for the renegotiation of nafta and kicked off this 90 day review process? he is blaming the democrats. no idea why trump does pretty much anything that he does, with respect to nafta. idea why first son-in-law jared kushner said last week that donald trump was on the point of...
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May 5, 2017
05/17
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but we should certainly talk about nafta. laura mentioned 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. i think about three or four weeks ago the ustr had some draft objectives that surprisingly or not surprisingly leaked. it was heartening for a free trader like me that the objective 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 that it probably was written by career staff and it's not clear that bannon or peter navarro saw it. if you heard or read the transcript of president trump's remarks yesterday, a couple of days ago in wisconsin when he announced his buy american/hire american initiative, he reverted i think pretty compl
but we should certainly talk about nafta. laura mentioned 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. i think about three or four weeks ago the ustr had some draft objectives that surprisingly or not surprisingly leaked....
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May 3, 2017
05/17
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retool nafta. secretary ross has already mentioned that, others have mentioned that. and so i look forward to doing that. there are no definitive things last night. that was not a business meeting. it was a great reception. but it was personal. and really, people do business with people. and i'm a personal relationships kind of guy. i think most of us would like to buy and go into a store where we feel like we're welcome and people know us and we do business with people we like to do business with. that's my goal whether it be the chinese, the south koreans, the mexicans or the canadians we want to develop relationships around the world where truth builds trust worthiness. and we are trust worthy components and trust worthy conveyers of the products they like. people trust theism sda stamp around the world. and we want to give them more of it. >>> on the other border with mexico. you mentioned they would impose duties on mexico if they cannot come up to an agreement on sugar by the 5th of june do.
retool nafta. secretary ross has already mentioned that, others have mentioned that. and so i look forward to doing that. there are no definitive things last night. that was not a business meeting. it was a great reception. but it was personal. and really, people do business with people. and i'm a personal relationships kind of guy. i think most of us would like to buy and go into a store where we feel like we're welcome and people know us and we do business with people we like to do business...
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May 3, 2017
05/17
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be the old nafta. in that sense, it will be scrapped. but the idea that we are just going to have no concept of trade relation to either canada or mexico is a silly idea. that's not the intention. david: what is your message to folks in this room watching and listening as well about the u.s.'s role in the world? you've talked about america first as well. these are companies that have a global footprint. how does that change under this administration? the role the u.s. place in the global economy? sec. ross: we are going to be playing the same role as before, except we are going to be more assertive about it being done in a proper and more balanced fashion. it is not inherent in the concept of free trade that one nation absorbs as its deficit cumulative surplus of the entire rest of the world. that's not an essential ingredient to free trade. tradeountries talk free and are quite protectionist, china being one of those. we are about at least protectionist country in the world, and we have the biggest de
be the old nafta. in that sense, it will be scrapped. but the idea that we are just going to have no concept of trade relation to either canada or mexico is a silly idea. that's not the intention. david: what is your message to folks in this room watching and listening as well about the u.s.'s role in the world? you've talked about america first as well. these are companies that have a global footprint. how does that change under this administration? the role the u.s. place in the global...
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May 1, 2017
05/17
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i said if i'm not able to renegotiate nafta, i will i'rminate nafta. now, if i'm not able to renegotiate nafta, we will terminate nafta. >> let's step back a minute. presidents have to learn to adapt. every president comes into the job and it's different and they have to adapt. you've learned something else, surely than that the media is dishonest. >> it was one of my disappointments. >> all presidents have to adapt and change. >> i think things tend to go an a little slower than you'd like them to go. >> why? >> it's just a system. a very, very bureaucratic system. i think the rules in congress and in particular the rules in the senate are unbelievably archaic. and slow-moving. and in many cases, unfair. in many cases, you're forced to make deals that are not the deal you'd make, you'd make a much different kind of a deal, you're forced into situations that you hate to be forced into. i also learned and this is very sad, because we have a country that we have to take care of. th obstructionist. chuck schumer has turned out to be a bad leader. he's a b
i said if i'm not able to renegotiate nafta, i will i'rminate nafta. now, if i'm not able to renegotiate nafta, we will terminate nafta. >> let's step back a minute. presidents have to learn to adapt. every president comes into the job and it's different and they have to adapt. you've learned something else, surely than that the media is dishonest. >> it was one of my disappointments. >> all presidents have to adapt and change. >> i think things tend to go an a little...
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May 1, 2017
05/17
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i encourage viewers tonight to sign our nafta prediction.we want to build to bring nafta to the table in the right way, not to have the kind of corporate fingerprints it's had all along as you've talked about on this show. >> do you think it's good to have the white house issuing the tax policies, these wall street guys, you sound like you don't like him. you think he should get rid of these guys. >> you know, i'm telling the president whom to pick and who is around. >> yes, you are. >> people surrounding. >> you said he's got too many goldman sachs. >> i'm telling him who to pick. i know gary cohen, he's from my home city of cleveland. the point is i want him to listen to -- to some of the people that want to not a wall street, but want a main street trade policy and i know how we can right this trade policy. i want more trade. i want it under terms to help workers in both countries. i don't want this sort of jingo workers in mexico and china, they're not the issue. the issue is lifting up workers in both countries, stopping companies from
i encourage viewers tonight to sign our nafta prediction.we want to build to bring nafta to the table in the right way, not to have the kind of corporate fingerprints it's had all along as you've talked about on this show. >> do you think it's good to have the white house issuing the tax policies, these wall street guys, you sound like you don't like him. you think he should get rid of these guys. >> you know, i'm telling the president whom to pick and who is around. >> yes,...
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May 22, 2017
05/17
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mainly because of jobs and nafta. the county has been devastated by job losses starting with nafta. the racial diversity is funny. they have an indian tribe down there who make up a plurality of the population. they are historically democratic. many of them swung to trump this time for a variety of reasons for most jobs also social issues. we met a lot of them. one guy we met, mark locklear, early 50's, he was telling me how he voted for obama twice had a bit of problem. he felt a bit disappointed on obamacare and foreign policy decisions. as we interviewed him, he had on his mantle, a bobblehead of obama and frame portrait of first family of the obama family. he still had a lot of affection for the family and obama. he switched to trump. he wanted to change. he wanted obamacare repealed. he wanted to feel little bit more hope. host: let's invite viewers to call in. this is how we divided lines today. if you're a republican voted for donald trump, call 202-748-8000. let's hear from mark look here. we'll hear from him and get your thoughts on it. >> you can keep the frame picture of
mainly because of jobs and nafta. the county has been devastated by job losses starting with nafta. the racial diversity is funny. they have an indian tribe down there who make up a plurality of the population. they are historically democratic. many of them swung to trump this time for a variety of reasons for most jobs also social issues. we met a lot of them. one guy we met, mark locklear, early 50's, he was telling me how he voted for obama twice had a bit of problem. he felt a bit...
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May 23, 2017
05/17
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just the other week trump was going to get us out of nafta.ut then decided we'll just renegotiate it again. it's interesting to see how people respond to what happens with nafta. >> how did you find these people that you talked to? >> a variety of ways. it takes a lot of time in advance to -- we usually start with talking to the county executives, maybe the congressmen, the mayors, but also if we know for example that in erie, pennsylvania there's a very large refugee population, we're going to reach out to the refugee agencies and say hey we want to talk to you, and the refugees. we look for issues. manufacturing losses. we want to talk to people who have lost their jobs. we'll do research and outreach before we get there. i'm going to be traveling among the counties now for the next three years. that will give me an opportunity to really sort of embed myself and hopefully cultivate some good will and trust within the community to be able to get people, candid with me as far as their views. >> linda is in williamsburg, virginia, a republican
just the other week trump was going to get us out of nafta.ut then decided we'll just renegotiate it again. it's interesting to see how people respond to what happens with nafta. >> how did you find these people that you talked to? >> a variety of ways. it takes a lot of time in advance to -- we usually start with talking to the county executives, maybe the congressmen, the mayors, but also if we know for example that in erie, pennsylvania there's a very large refugee population,...
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May 1, 2017
05/17
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not able to renegotiate nafta. i will terminate nafta. >> where are you on the thinking?don't know what is going on in the inner macinations in the white house. all four issues matter for a better trade agreement of canada and mexico and the united states. the first is get up front commitments on buy america and o outsourcing provisions. you don't play one american worker against another. >> meaning? farmers and manufacturers? >> that's important that the president mediate that in the negotiations. i have seen that happen far too many times. you get workers at the table ones these provisions and make sure in the negotiations. >> i guess my question is what is good for farm irrelevaers ma good for manufacturing. >> that is why you have the president and you hire negotiators. the last provision is important that these provisions have something called investor state dispute settlement. it gives corporations more power to veto and overturn democratic rules and regulations. especially on the environment and labor end. i want to make sure workers have the same standing as multi
not able to renegotiate nafta. i will terminate nafta. >> where are you on the thinking?don't know what is going on in the inner macinations in the white house. all four issues matter for a better trade agreement of canada and mexico and the united states. the first is get up front commitments on buy america and o outsourcing provisions. you don't play one american worker against another. >> meaning? farmers and manufacturers? >> that's important that the president mediate...
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May 18, 2017
05/17
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. >> reporter: the president's nafta letter. >> i'm i. >> the president's letter on nafta on restarting negotiations. you've been saying he could have started this on inauguration day. >> he could have. >> is this frivolous what he's doing with nafta or can it result in change. >> >> i think it's weak. i think it's weak. i mean, i have -- i've said that the president's vague nafta let ser a stark contrast with the aggressive promises he made to hard-working families during the campaign. for all of his rhetoric, president trump looks to be surely disappointing american workers on trade. our trade -- we've always said our trade ingredients must be judged on how they produce good-pepe checks for hard working americans. but this is like -- i don't know. it's weak. but right now, my colleagues across -- where are they? on the other side of this? i didn't know there was another side of this. you know more than i about this capitol. on the other side of this, there's a nafta press conference led by rosa delauro. i'm sure you'll get some strong views there. it's pretty sad. look, it's a 30-year
. >> reporter: the president's nafta letter. >> i'm i. >> the president's letter on nafta on restarting negotiations. you've been saying he could have started this on inauguration day. >> he could have. >> is this frivolous what he's doing with nafta or can it result in change. >> >> i think it's weak. i think it's weak. i mean, i have -- i've said that the president's vague nafta let ser a stark contrast with the aggressive promises he made to...
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May 6, 2017
05/17
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nafta.e fomc was front and center an interview with ben , bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ >> you added 9 million users last quarter. did it come from donald trump? >> we can't say focus on politics, is really driving the growth. we don't have a way to measure that. twitter benefits when influential people use our platform to tell with happening. we encourage that, we love the discussion, with of the conversation that happening. the more it happens, the better we will be at showing you with happening in the world. we would love it every world leader would use it as a primary mechanism to talk to their constituencies. julie: that was twitter cfo anthony noto with emily chang. many of the world's top investors, executives and financial policymakers spoke with bloomberg television at the milken institute to global conference in beverly hills this week, incl
nafta.e fomc was front and center an interview with ben , bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ >> you added 9 million users last quarter. did it come from donald trump? >> we can't say focus on politics, is really driving the growth. we don't have a way to measure that. twitter benefits when influential people use our platform to tell with...
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May 13, 2017
05/17
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mexico is bad, we must get out of nafta. now, those high-level statements can be delivered by two different kinds of policies. they can be delivered by the u.s. withdrawing from nafta, which would be a very bad economic result, or they can be delivered, for example, in china with a 60% tariff on all china goods which would be a very bad economic result. but they could also be delivered by the nafta renegotiation process looking for deeply at behind the border barriers and being an evolution of the nafta that led to the spp, the strategic prosperity partnership, and then so the next level of this which is to look at behind the border barriers and distortions in mexico where there are many. and if i were the mexican government, i'd be wanting to highlight in this renegotiation process the many distortions in the u.s. market and the canadian market and the canadians should be doing the same thing. and that is the way that the nafta renegotiation process would become ultimately a pro free trade free market kind of project. becau
mexico is bad, we must get out of nafta. now, those high-level statements can be delivered by two different kinds of policies. they can be delivered by the u.s. withdrawing from nafta, which would be a very bad economic result, or they can be delivered, for example, in china with a 60% tariff on all china goods which would be a very bad economic result. but they could also be delivered by the nafta renegotiation process looking for deeply at behind the border barriers and being an evolution of...
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May 6, 2017
05/17
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much of raw materials can be brought in from outside nafta and be given the tariff benefits of nafta? part, and some of those parts are not even used in cars anymore, because technology has changed. there are a lot of changes like that that are needed. there are a lot of things that were not thought about, digital economy not really dealt with. services economy, not really dealt with very much. thatof the liberalization mexico has made to its natural resource laws, not at all. there is a lot of stuff to do. but at the end of the day, the objective will be to fold -- two fold. talk lastas a lot of week about pulling out of nafta altogether, ditching it altogether versus renegotiating. what is your sense of the possibility of getting rid of the whole thing right now? is thatis unfortunate it began as a sensible discussion of alternatives into something beyond what it really was. , all the leaks that have been occurring. they seem to be a factor in washington. people say there is no such thing as an off the record conversation, but the fact remains that the president has made the decisio
much of raw materials can be brought in from outside nafta and be given the tariff benefits of nafta? part, and some of those parts are not even used in cars anymore, because technology has changed. there are a lot of changes like that that are needed. there are a lot of things that were not thought about, digital economy not really dealt with. services economy, not really dealt with very much. thatof the liberalization mexico has made to its natural resource laws, not at all. there is a lot of...
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May 18, 2017
05/17
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nafta, withdraw.f withdraw at the very beginning of the trump administration and now -- i haven't seen the letter i was listening to the report, now there seems like there's going to be not withdraw but there's beginning to be renegotiation, and the renegotiation is going to have a lot of consultation with the congress, consultation with the canadians and the mexicans and i think the end results that there will be modernized, and changed. i think there will be changes good for us, kwad and mexico. there's no reason to not update this, but i think president trump, look he ran as somebody completely outside of the establishment. completely outside of washington. so he essentially took on everything. now as he took on everything, you know one by one by one instead of campaigning he's got to govern and it's a whole different role and responsibility. >> and of course enks we just talked about whether it's the renegotiation of nafta, tax reform, corp tax reform, infrastructure or healthcare everything the p
nafta, withdraw.f withdraw at the very beginning of the trump administration and now -- i haven't seen the letter i was listening to the report, now there seems like there's going to be not withdraw but there's beginning to be renegotiation, and the renegotiation is going to have a lot of consultation with the congress, consultation with the canadians and the mexicans and i think the end results that there will be modernized, and changed. i think there will be changes good for us, kwad and...
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May 6, 2017
05/17
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nafta.ellence he was front and center, an interview with ben bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ the show's about to start! how do i look? like a bald penguin. [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives you exclusive access to the best of the billboard music awards just by using your voice. the billboard music awards. sunday, may 21st eight seven central only on abc. ♪ you added 9 million users last quarter. did it come from donald trump? >> we can't save focus on politics it is really event driving the group. we don't have a way to measure that. twitter benefits when influential people use our platform to tell with happening. we encourage that, we love the discussion, with of the conversation that happening
nafta.ellence he was front and center, an interview with ben bernanke put in a few good words for his successor, janet yellen. >> she is highly competent has done a good job as a confidence of the markets. julie: this is bloomberg. ♪ the show's about to start! how do i look? like a bald penguin. [ laughing ] show me the billboard music awards. show me top artist. show me the top hot 100 artist. they give awards for being hot and 100 years old? we'll take 2! [ laughing ] xfinity x1 gives...
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May 1, 2017
05/17
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permitting components to come into nafta duty free.that were described in the nafta agreement aren't even used in cars anymore. so it's sorely in need of revisitation. its enforcement provisions are pretty weak and the dispute resolution mechanism. it shouldn't surprise you it needs changed. you have a document decades old. the idea they got everything right for -- >> it seems to be a desire on the part of the canadas and the mexicans to move at a dispatch. i don't know what time line would be for something like that. >> well, the key to the time line is the mexican elections are next year. the presidential election. so the closer we get to the election the more difficult it will be to get anything through. in that regard, they resemble the situation in the u.s. the closer you get to the presidential election, more difficult to get something through. >> i know carl's got a final question for you. >> finally, mr. secretary, we heard that sound bite with the president talking about the balance between addressing china on trade and trying
permitting components to come into nafta duty free.that were described in the nafta agreement aren't even used in cars anymore. so it's sorely in need of revisitation. its enforcement provisions are pretty weak and the dispute resolution mechanism. it shouldn't surprise you it needs changed. you have a document decades old. the idea they got everything right for -- >> it seems to be a desire on the part of the canadas and the mexicans to move at a dispatch. i don't know what time line...
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May 20, 2017
05/17
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MSNBCW
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the president blames nafta for sending u.s. jobs to mexico and for trade moves by canada that he says is unfair. ali, why can't the presidency that a trade deficit is different from a budget deficit. things are going back and forth. by the way, mexico, our third biggest trading partner. >> so i'm on both sides of this thing as a canadian and american, i see both sides of this. >> makes you a north american. >> i am nafta. the issue is this. trade deals do really well for companies. their profitability goes up. it does really well for countries, gdp growth goes up. it doesn't do really well by workers in high wage economy. so whether you're in the u.s. or great britain, if you're trading with countries that have lower wages than you have, the worker tends to get messed up in the process. >> then the answer needs to be to look at what workers are getting paid in this country. as soon as you get involved in this dance, there's a lot of companies, especially in the agriculture sector, that sending a lot to our neighbors. that don't
the president blames nafta for sending u.s. jobs to mexico and for trade moves by canada that he says is unfair. ali, why can't the presidency that a trade deficit is different from a budget deficit. things are going back and forth. by the way, mexico, our third biggest trading partner. >> so i'm on both sides of this thing as a canadian and american, i see both sides of this. >> makes you a north american. >> i am nafta. the issue is this. trade deals do really well for...
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May 19, 2017
05/17
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plus — nafta nerves.se times for mexico as its two—decade—old trade deal with the us is thrown into doubt. and, as always, we bring you the latest action on the markets — we'll find out why the markets have pushed aside, for now, the trump slump. and we look back at the past week in business, when us markets had their worst day since november, and the economy was the main focus in the uk election. that's all with our business editor, simonjack. we always want to hear from you. it's easy to get in touch with the programme — just use the hashtag #bbcbizlive. hello and welcome to business live. it is friday, we have got that friday feeling. we start in france — where the new president, emmanuel macron, says he expects no honeymoon from the public after his first week in power. he now has to try and win a majority in next month's parliamentary elections — and implement the economic policy he says can turn the country around. so what is macron economics — and can it solve france's problems? macron calls himsel
plus — nafta nerves.se times for mexico as its two—decade—old trade deal with the us is thrown into doubt. and, as always, we bring you the latest action on the markets — we'll find out why the markets have pushed aside, for now, the trump slump. and we look back at the past week in business, when us markets had their worst day since november, and the economy was the main focus in the uk election. that's all with our business editor, simonjack. we always want to hear from you. it's easy...
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May 7, 2017
05/17
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BLOOMBERG
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ross: nafta is an old agreement.te agreement that does not reflect the current status of either the mexican economy or the american or the canadian. at a minimum, it needs updating. second, it has the problem with the rules of origin. mainly how much of raw material can be brought in from outside nafta and get the tariff benefits of nafta. in automotive, for example, they do it part by part. some of those parts are not even used in cars anymore because technology has changed. there are a lot of changes like that that are needed. a lot of things that weren't even thought about. digital economy not really dealt with. services economy not really dealt with very much. some of the liberalization mexico has made to its natural resources, not dealt with at all. so there is a whole lot of stuff to do. at the end of the day the objective will be twofold. increase total trade and reduce our trade deficit with both mexico and to a lesser degree canada. >> there was a lot of talk last week about pulling out of nafta altogether.
ross: nafta is an old agreement.te agreement that does not reflect the current status of either the mexican economy or the american or the canadian. at a minimum, it needs updating. second, it has the problem with the rules of origin. mainly how much of raw material can be brought in from outside nafta and get the tariff benefits of nafta. in automotive, for example, they do it part by part. some of those parts are not even used in cars anymore because technology has changed. there are a lot of...
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May 19, 2017
05/17
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BLOOMBERG
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we will talk about nafta and why donald trump hates it. having a look at the premarket as well here in hong kong. loads more on the way. this is bloomberg. ♪ rishaad: trade ministers from the 21 apec states meeting in hanoi. we continue our conversation with stephen olson. nafta was some 23 years ago when this deal was being born. there is a lot of economic research suggesting it has worked very well, and economic research saying maybe not so great, but why this donald trump hate it so much? >> i think most criticism center around labor market dislocations that we see any time you move to a free-trade scenario. in mind isnt to keep that the nafta agreement is in fact 23 years old. is perfectly reasonable for all the countries involved to take a look at the agreement, if i wait what has worked well, but has not worked well, and if there are reasonable modifications and amendments that can be made, the way we have done business changed since nafta was initiated, so it makes sense and appropriate. you have written about the unpredictability i
we will talk about nafta and why donald trump hates it. having a look at the premarket as well here in hong kong. loads more on the way. this is bloomberg. ♪ rishaad: trade ministers from the 21 apec states meeting in hanoi. we continue our conversation with stephen olson. nafta was some 23 years ago when this deal was being born. there is a lot of economic research suggesting it has worked very well, and economic research saying maybe not so great, but why this donald trump hate it so much?...
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May 25, 2017
05/17
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FBC
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our next guest was in canada when nafta was finalized years ago. he was the former u.s. to canada and former democratic governor of michigan, james blanchard. good to have you. >> how are you? david: i'm well. first of all, justin trudeau wants to preserve it? how about alter it a little bit? what was appropriate one stage or another is inprepare at another. >> look, it is 23 years old, it could be modernized. cell phones were not entirely new but the internet was relatively new. there is a lot could be done with labor issues, labor mobility. we would like to having a culture covered. we'll probably have to negotiate a side agreement on lumber. there are things that can be done. of course conditioned today would like us to abide by nafta panel decisions and not always be you suing them. they screw us excessively litigious, which we are, but that is part of our culture. david: that is part -- liz: that is part of our culture to stick up for ourselves. if it is unbalanced dairy farmers feel it is extremely unfair. >> it is. liz: lumber is another issue. when you were gover
our next guest was in canada when nafta was finalized years ago. he was the former u.s. to canada and former democratic governor of michigan, james blanchard. good to have you. >> how are you? david: i'm well. first of all, justin trudeau wants to preserve it? how about alter it a little bit? what was appropriate one stage or another is inprepare at another. >> look, it is 23 years old, it could be modernized. cell phones were not entirely new but the internet was relatively new....
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May 1, 2017
05/17
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BLOOMBERG
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about nafta right now.ilbur: well, it really hasn't changed from before. it's an old agreement, obsolete doesn't reflect the current status of the mexican economy or the american, or the canadian. second, it has a particular origin. mainly how much abrupt material can be brought in from outside nafta. automotive, for example, they did it part by part in some of those on even used anymore. has changed. there are a lot of changes like that, a lot of things that weren't even thought about. digital economies that really dealt with the service economy, not really dealt with very much. some of the liberalization in mexico has to deal with natural resource laws. so, there's a whole lot of stuff to do. day thend of the objective will be to hold. increase total trade and reduce with bothdeficit mexico and, to a lesser degree, canada. this: help us understand timeline. the president spoke to the leaders of both countries last week, but what do we do next? wilbur: what we are waiting on is the contrast -- congress to
about nafta right now.ilbur: well, it really hasn't changed from before. it's an old agreement, obsolete doesn't reflect the current status of the mexican economy or the american, or the canadian. second, it has a particular origin. mainly how much abrupt material can be brought in from outside nafta. automotive, for example, they did it part by part in some of those on even used anymore. has changed. there are a lot of changes like that, a lot of things that weren't even thought about. digital...
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May 19, 2017
05/17
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plus — nafta nerves. mexico as its two—decade old trade deal with the us is thrown into doubt. welcome to world business report, i'm aaron heslehurst. we have got about nine minutes, my very last early—morning programme for you all before i moved to a new show. —— move. coming up, who needs the us anyway? asia pacific trade ministers hope to salvage the trans pacific partnership after president trump pulled the plug. we start in france, where the new president, emmanuel macron, says he expects no honeymoon from the public after his first week in power. he now has try and to win a majority in next month's parliamentary elections, and implement the economic policy he says can turn the country around. so what is macron economics, and can it solve france's problems? macron calls himself neither right nor left — and sure enough, the team he announced on wednesday is a diverse mix of figures from parties on the left, the right and the centre. he says his economic policy is based on the ‘nordic‘ model. what's th
plus — nafta nerves. mexico as its two—decade old trade deal with the us is thrown into doubt. welcome to world business report, i'm aaron heslehurst. we have got about nine minutes, my very last early—morning programme for you all before i moved to a new show. —— move. coming up, who needs the us anyway? asia pacific trade ministers hope to salvage the trans pacific partnership after president trump pulled the plug. we start in france, where the new president, emmanuel macron, says...
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May 2, 2017
05/17
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KQED
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it is the trade pact the commerce secretary describes as being outdated, and ripe for reform. >> nafta is an ancient treaty. it's decades old. and neither our economy nor the mexican or canadian economies are remotely similar to when they were back when the deal was done. there's nothing about the digital economy. there's very little in it about the surrogate economy. and the sections that it does address, some of those are also clearly obsolete. >> secretary ross also said that the closer the nafta talks get to the mexican election, the more difficult they will become. >>> trade relations with canada have also become straped. president trump recently accused the country of intentionally undercutting american prices on dairy products. contessa brewer reports tonight from new york. >> reporter: with 1,400 cows and 26 employees, dirk young runs a successful mid-sized dairy farm in upstate new york. successful, but not certain. >> it is unpredictable. it's not fun. it takes the fun out of it. >> reporter: the milk produced here goes to a company owned by 20 other farms. they process the m
it is the trade pact the commerce secretary describes as being outdated, and ripe for reform. >> nafta is an ancient treaty. it's decades old. and neither our economy nor the mexican or canadian economies are remotely similar to when they were back when the deal was done. there's nothing about the digital economy. there's very little in it about the surrogate economy. and the sections that it does address, some of those are also clearly obsolete. >> secretary ross also said that the...
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May 19, 2017
05/17
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bill: after nafta, the economy was better. second fiddle in any deal, whether we are talking about labor, the environment, where products are made. origin is a very big issue with me, personally. i see that is taking a lot of jobs, particularly the rust belt and the northeastern part of the u.s. david: bill pascrell, thank you for being here. bill: an honor to be with you. jonathan: what is ironic the biggest source of weakness of the peso was president trump's talk about nafta. the other irony is they back away and they get the peso strengthened they want. nothing more to add. the session looks like this. equities firmer. up 80 on the dow. we are up .5% on the s&p 500. from new york, you are watching bloomberg. ♪ york, and vonnie quinn. toi am mark martin, welcome bloomberg markets. vonnie: here are the top stories we are covering from bloomberg and around the world. president trump takes off on his first overseas trip since assuming the presidency. will it help quiet the growing storm around his presidency? we will hear from
bill: after nafta, the economy was better. second fiddle in any deal, whether we are talking about labor, the environment, where products are made. origin is a very big issue with me, personally. i see that is taking a lot of jobs, particularly the rust belt and the northeastern part of the u.s. david: bill pascrell, thank you for being here. bill: an honor to be with you. jonathan: what is ironic the biggest source of weakness of the peso was president trump's talk about nafta. the other irony...
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May 2, 2017
05/17
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CSPAN
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the word nafta has been very unpopular a time that very much pre-dates president trump. that into a very strong campaign. i think when they came on board, there was a recognition that developed that has much developed now, that the supplying -- supply chain into relationships with mexico, the network seven -- interconnection between our three economies -- canada, the u.s., and mexico -- is much more heightened van it was at first -- tha it was a first. there's a company with who we have a $500 billion a year -- relationship, 10 times the media with russia, or the united kingdom which we treat with such deference. there is a realization -- has , this isthat gee serious business that, we better be careful -- careful. i think the way forward on the nafta, really is to try to take some of the elements -- not all, but some of the elements negotiated in the tpp, which he fromdrew -- withdrew and try to incorporate them into a new nafta agreement. this a of digital economy, updating intellectual property. aere are other features of potential free-trade agreement between the 3 -
the word nafta has been very unpopular a time that very much pre-dates president trump. that into a very strong campaign. i think when they came on board, there was a recognition that developed that has much developed now, that the supplying -- supply chain into relationships with mexico, the network seven -- interconnection between our three economies -- canada, the u.s., and mexico -- is much more heightened van it was at first -- tha it was a first. there's a company with who we have a $500...
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May 27, 2017
05/17
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FOXNEWSW
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is nafta the cause of a loss of jobs? i don't agree. eric: you think nafta should stay? >> i do.p product from asia and china. he thinks nafta companies should be buying and selling from each other. he want to change the rules on allowing countries to do temporary tariffs. he want to change cloud computing that didn't exist when ross perot was running for president. now there are privacy and security settings that need to be done. that needs to be changed in nafta as well. these are all things people weren't considering 24 years ago. so it's not going to be terminated. it's note good for business if it's terminated. more importantly an update. eric: thanks. arthel? arthel: this memorial day weekend we remember those who made the ultimate sacrifice while fighting for our country, but many of those who died were left behind on the battlefield. their families turning to modern technology to bring them home. ♪ somewhere, inside each of us, there's a pro. ♪ it's not always easy to summon your pro. ♪ but once you've found it, you'll find you can do anything. ♪ eric: a fallen navy pilot
is nafta the cause of a loss of jobs? i don't agree. eric: you think nafta should stay? >> i do.p product from asia and china. he thinks nafta companies should be buying and selling from each other. he want to change the rules on allowing countries to do temporary tariffs. he want to change cloud computing that didn't exist when ross perot was running for president. now there are privacy and security settings that need to be done. that needs to be changed in nafta as well. these are all...
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May 26, 2017
05/17
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BBCNEWS
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he told me why nafta is important. we are the largest kind to the united states.ange about $2 billion of trade every day. 400,000 people crossing every day. the largest energy supplier to the us. actually, my own province is providing much of the electricity to new york. 47 states have gathered as their primary, secondary or treasury market service agreement has provided millions ofjobs on both sides. 9 millionjobs depends on canada but the relationship is unique because we do not sell to each other, we make things together. if you look at a car, reaching the consumer, this agreement has been good. it provides millions of middle—classjobs. this has been done two decades ago? a rented ii times already. we are proactive and confident that as my counterpart said recently, this has to be in the interests of all three parties so we are looking at these negotiations from prime ministerjustin trudeau which is proactive, making sense to canada. don't you think canada will have a hard negotiation? it is a lwa ys have a hard negotiation? it is always good —— always good whe
he told me why nafta is important. we are the largest kind to the united states.ange about $2 billion of trade every day. 400,000 people crossing every day. the largest energy supplier to the us. actually, my own province is providing much of the electricity to new york. 47 states have gathered as their primary, secondary or treasury market service agreement has provided millions ofjobs on both sides. 9 millionjobs depends on canada but the relationship is unique because we do not sell to each...
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May 26, 2017
05/17
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he was in vietnam and singapore and south korea and japan but he says nafta is still an important tradect. it's always good to start a negotiation when you are the first client of the entity going to negotiate with. we are proactive engaging with our us colleagues. the prime minister has established a relationship with president trump. we saw the dividend in the phone call recently and we have been firm in telling them and stand firm for canadian workers. that was the canadian trade minister saying they again to stand firm. windows counterpart, the us trade representative, has kicked off the process for the rework of the agreement with canada and mexico, issuing a 90— day notice to congress to do that. we are also in northern india — looking at a ‘rags to riches‘ story that may not have a happy ending. it's where much of the discarded clothing donated to charity ends up to be recycled into new cloth. but as shilpa kannan has been finding out, the industry is under threat. this is the world's cast—off capital. from high street brands to luxury labels, most clothes donated to charity end
he was in vietnam and singapore and south korea and japan but he says nafta is still an important tradect. it's always good to start a negotiation when you are the first client of the entity going to negotiate with. we are proactive engaging with our us colleagues. the prime minister has established a relationship with president trump. we saw the dividend in the phone call recently and we have been firm in telling them and stand firm for canadian workers. that was the canadian trade minister...
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May 22, 2017
05/17
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CSPAN2
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now, i do think in some corners nafta has been unfairly maligned. but it is true that it is 23 years old and needs to be mode modernize and i think all of us can rally around that consistent with the principle in president trump's campaign that america needs smarter, fairer, trade deals that benefit more americans. free trade has been a boon to the american economy and certainly the texas economy because we're the number-one exporting state in the nation. our farmers and ranchers and small business owners have benefited from trade agreements, particularly nafta, that help them send more the products they raise, grow, and build to more markets around the world, principally to canada and mexico but certainly other trade agreements that allow those goods -- manufactured goods, stock raised and produce grown, to markets around the world. we comprise in america about 5% of the potential markets in the world. so there are 95% of the rest of the world is a market to buy the things that we make and grow and raise here, and why not help create more jobs and
now, i do think in some corners nafta has been unfairly maligned. but it is true that it is 23 years old and needs to be mode modernize and i think all of us can rally around that consistent with the principle in president trump's campaign that america needs smarter, fairer, trade deals that benefit more americans. free trade has been a boon to the american economy and certainly the texas economy because we're the number-one exporting state in the nation. our farmers and ranchers and small...