to be new nafta is about to become law.the house appears reluctant to give president trump the win he craves. >> house democrats don't like what they see. labor provisions don't like the enforcement measures. requirements that mexico allow the creation of independent unions. it addresses what is the bigger concern for democrats. this is the wage gap between mexico and the u.s.. the second thing was a bigger fight over trade. donald trump released all the democratic senator. he argued against trade pacts like nafta. carol: talk about bob lighthizer. tell me about his role in all of this. he is perfectly suited for the job. he served in the ronald reagan administration. has been one of those rare, protectionist voices in the republican party. argued with the new nafta that we speak trying to remake the politics of trade agreements in washington. he has tried very hard to forcit democratic support this deal. his argument is, if we can get a new paradigm on trade, it will be better for the politics of trade in the long run, and

carol: coming up, why the new nafta has a long road. jason: and already during up for 2020. rol: this is "bloomberg businessweek." ♪ jason: welcome back. carol: you can listen to us on the radio in new york, boston, washington dc -- >> and in the bay area and in london and our app. the new nafta is scheduled to be signed at the g20 conference at the end of this month. the usmca is about to be become law. carol: with the house appears reluctant to give president trump the win he craves. >> house democrats don't like what they see. labor provisions don't like the enforcement measures. these are requirements that mexico allow the creation of independent unions. it addresses what is the bigger concern for democrats. this is the wage gap between mexico and the u.s.. the second thing was a bigger fight over trade. donald trump released all the democratic senator. he argued against trade pacts like nafta. carol: talk about bob lighthizer. tell me about his role in all of this. >> he is perfectly suited for the job. he served in the ronald reagan administration. he has been one of th

carol: coming up, why the new nafta has a long road ahead.: the democrats' top election lawyer is already gearing up for 2020. carol: this is "bloomberg businessweek." ♪ jason: welcome back. carol: you can listen to us on the radio in new york, boston, washington, d.c. >> and in the bay area and in london and our app. in this week's politics section the new nafta is scheduled to be , signed at the g20 conference at the end of this month. the united states mexico canada agreement, usmca is about to be become law. carol: it is a bit of a mouthful. the next challenge is to get the deal through congress and a hostile house that appears reluctant to give president trump the win he craves. >> we are hearing from house democrats that they don't like what they see in the labor provisions. in particular, they don't like the enforcement measures. are newr provisions requirements that mexico allow the creation of independent unions. basically, address what has been one of the big concerns for democrats and labor unions in the u.s., which is the wage gap

that is what modernizing nafta achieves and that's why it was important to get this new agreement done right. as a result of the tariff-free access that nafta guaranteed for more than 70% of canada's total exports is secure. and that's essential for businesses, families, jobs, entrepreneurs, and hardworking people in every corner of our country. as i said, the task isn't done. there is more hard work ahead to build resilience, strong economies that support families everywhere in canada. as i discussed with president trump a few days ago, the recent plant closures by general motors, which affects thousands of canadian and american workers and their families, are a heavy blow. make no mistake, we will stand up for our workers and fight for their families and their communities. donald, it's all the more reason why we need to keep working to remove the tariffs on steel and aluminum between our countries. [speaking a foreign anguage] with hard work, good will, and determination i'm confident we will get there. our shared interests, prosperity, and security demand it. before wrapping up, i'd

tongue] [speaking in native tongue] todd have gotten worse and more damaging had we not reached a new nafta when faced with this challenge, canadians came together and rolled up their sleeves, canadians from every order of government and walks of life but put their country's interest first and worked hard to achieve a new modernized agreement that will protect jobs, strengthen the middle class and create new opportunities for [speaking in native tongue] >> there's much more to do in lowering trade barriers and fostering growth that benefits everyone. but reaching new agreement with united states and mÉxico is major step in our economy. canadians got here because team canada was driven by the interests of the middle class, free and fair trade leads to more and better paying middle class jobs for more people. and the benefits of trade must be broadly and fairly shared. that is is secure, that's essential for businesses, families, jobs and entrepreneurs and hard-working people in every corner of our country. as i said, the task isn't done, there is more hard work ahead to build resilient stron

that was in place for some twenty years justin trudeau the canadian prime minister calling it the new nafta maybe that's because the new name is the u.s. m.c.a. so ca being canada put there the and probably not liking that too much in fact canada's had a bit of a sour mood about this agreement because in place still are those very steep tariffs once again put in place by donald trump on canadian steel and aluminum into the united states that was not removed so the canadian prime minister referring to this is the new nafta throughout the signing ceremony and even donald trump well he's sort of been celebre tory with regard to the signing of this it's a bit premature given the fact that it has to be ratified in the u.s. congress and already democrats who will control the house of representatives back in the united states come january say hey not so fast so there are some significant concerns about this agreement in the united states that is expected to go through canada mexico without any problem but that's why it will donald trump a sounding or trumpeting the agreement being signed it is a b

that's what modernizing nafta achieves and that's why it was so important to get the new agreement done right. as a result the tariff-free access that nafta guaranteed for 70% of total experts is secure, and that's essential for businesses, families, intrapreneurs and hard-working people in every corner of our country. as i said, the task is not done. there's more hard work ahead to build resilient strong economies that support families everywhere in canada. as i discussed with president trump a few days ago the recent plant closures by general motors that affects thousands of canadian and american workers and their families are a heavy blow. make no mistake we will stand up for our workers and fight for their families and communities. donald, it's all the more reason why we need to keep working to remove the tariffs on steel and aluminum between our countries. [speaking foreign language] >>> with hard work, goodwill and determination, i am confident we will get there. our shared interests, prosperity and security demand it. before wrapping up, i would like to personally thank our forei

president trump came in with a really powerful strategy but i think it is clearly working, we have got a new naftatiations are virtually all of our trading partners right now and that is showing progress. some countries see the us has been very disruptive, resisting the rules that make the system work. does the wto have any role in the financial world in your the future, in your opinion?” role in the financial world in your the future, in your opinion? i feel that the wto has played an important role, but i also feel that it has failed us in many ways. and yet if china still as intellectual property from the us and them complain about it and somebody dumped stuff in the us to try and put our industry out of business, then we take up at wto case but it takes five or six years and then the damage is done. to the wto was good for the past but not so good for the future? well, i think maybe the wto we never really envisioned that a country with enter the wto in the way china has. they have, it is very well documented, their intellectual property theft is a major concern to the uk, eu, the we estimated

day in office those three leaders will be on stage participating in the signing ceremony of the new nafta deal. brian: here is what i find a little bit disturbing. usmca seems to have widespread agreement much better deal than the nafta deal which even if you loved nafta in the 80s it's got to be updated in 2018. ed: all the critics said he would never be able to do it. brian: pass it at least bring it up. already senator elizabeth warren says i don't like it. maybe she doesn't know why she doesn't like it other democrats are behind it other democrats will say i don't think so. i want some nuances to worker rights in different nations. ainsley: after they sign the deal, then each government, each three governments have to ratify that deal. it would be much easier to ratify it if it goes through now during lame duck session because republican have the house and senate. ed: trying to attack these issues. can you rudy giuliani was furious once again second time before a major foreign trip there was a development in the mueller case. a new deal with michael cohen the president's former attorn

brand-new nafta agreement was officially signed.and for the signing in argentina. this is happening in the g20 summit. >>> as more companies ban tobacco sales and e cigarettes, next week six state lawmakers will introduce a bill. health advocates say the products get middle school and high school students hook odd nicotine. sales would still be allowed as long as the customer is over 21. >>> scientists are looking into how 11 days of breathing in the smoky air from the camp fire in butte county impacted our long-term health here in the bay area. >>> three significant studies are under way at uc davis. scientists are taking filters that collected particulates in the oakland hills this month and pollutioitou take four fier t.h >> cs. under a normal kind of atmospheric pollution in the bay, it would take three or four weeks to get that discolored. >> so just think about your lungs, right? they had to do the same thing. these filters will be used biff health researchers to look at how this new kind of pollution will affect various organ

how did we get the new nafta? a lot of responsible people surrounded donald trump and encourage him to do as little damage as possible to the most important trading zone on earth and the good news is although the president crashed and not consultant to the for the screen is not too badly damaged. nafta is waiting to be repaired when people of good faith when they negotiate the digital economy which no constructive work got done. one of the questions we talk about is nationalism and globalism, globalism is supposed to be a bad word. north american lungs brief chinese pollution. russian missiles shoot down malaysian airliners with european citizens aboard. the only way to stop this climate from getting too hot for our species to live on his if we all work together. it is one planet. we love our country, only 2 countries can we exercise our democracy. we work together with friends and partners, how did he get -- never been able to negotiate a win-win deal in his business career so canada and mexico are less powerful t

but he has a pull out of nato, the new nafta kind of looks a lot like the old after with tpp mixed them. so is it just letter it that is destabilizing or has he really done a lot of damage? >> there are two parts to that. one part is, it's only been 18 months. who knows what is going to happen 24 plus -- actually more than 18 months. we weren't really expecting the united states to withdraw from the treaty. the president decided of the weekend that that's probably a good idea. probably didn't tell our allies that's what he's going to but that's what he is going to do. through a keeping that is a threat like terminating nafta. >> i don't know. we'll see. if that is the case. the other part of the -- one is we just don't know how much is more coming down the pike. i don't take anyone does. including anyone who works for him. the second piece which is important, is that take nafta, the process by which he goes through that by threatening to withdraw from treaty by going after the very strongly which is used against the mexicans, during the president's against the canadians, what they do ru

the new nafta?ot of responsible people surrounded donald trump and try to encourage him to do as little damage as possible to the most important trading zone on earth. even thoughs is trump knocked the cell phone to the floor, the screen is not too badly damaged. nafta is waiting there to be repaired. none of which got done. no constructive workout done. all that was happening was that nafta was presented. one of the questions we talk about here tonight is nationalism and globalism. america longs brief chinese pollution. shootdownssiles malaysian airliners with european citizens aboard. the only way we're going to stop this planet from getting too hot for our species to live on as if we all work together. it is one planet. [applause] we love our country. only three countries can we exercise our democracy. how did donald trump get nafta? by bullying people. not by treating him -- them like partners. and mexico are less harmful than the united states. in the past, the u.s. said even though that is tru

core, that opened a door for communication in what ended up being the new administration and the pluses of eventually getting nafta renege gauche -- renegotiated and now the u.s. mca. having early communication and establishing a dialogue with the new government certainly was correct. >> on that note, foreign minister luis videgaray thank you so much indeed. >> thank you. it is always good to hear you. >> that meeting is when president trump first started talking about the war right in front of the mexican president. the fight for futility. pushing for police reform, she cofounded campaign 0 and was a key face in the black lives matters movement. brittany spoke to alicia menendez the morning after the midterm. >> thank you for being here. >> thank you for having me. >> we knew there were going to be two different verdicts on the trump presidency delivered by two different americas. what is your take? >> my take is that there is energy out there. and energy in places where people least expected us to see it. i was in tallahassee, florida stumping for andrew gillum and pushing people to vote yes on amendment four. a

the new nafta, the president signed this with mexico and canada.o agreement, canadian agreement. normally you think that would be something to be voted on in the next congress. but pat toomey, republican senator from pennsylvania came out to say with other republicans, sign this and get a vote on or before the end of the congress. is this realistic? >> probably not. a senate majority leader, mitch mcconnell says is just not time. and a lot of them look at that way. everything would have to be lined up. as you know, there are many other items on the agenda for the lame-duck session. paul: i will tell you what, it looks to me that the politics of this are not going well for the next congress. you're ready hear democrats saying well, okay. this bill, this nafta deal, we will look at it but you have to do several things before we even consider a vote. for example he has to tighten up the enforcement provisions, yet to do more labor protections and environmental protections. the environmental lobby is lined up totally against it and the cio is lukewarm

brand-new nafta agreement was officially signed.sident trump, justin trudeau and enrique pena neto were on hand for the signing in argentina. >> number five, a man caught on camera attacking a woman outside stone's sports bar. he turned himself in a few days after the attack. >> number six, overall looking very light for the friday morning commute. a live look at the bay bridge toll plaza. it is starting to fill in. the metering lights on at 5:26. very few incidents today. >> two blocks of stockton street close to union square turning into a holiday wonderland. it is usually a construction zone. they put down a bunch of fake grass, tents, and lights and voila, you have something better to look at. >> we are coming back with another 90 minutes of news, including what facebook admits it did to try and get dirt on it did to try and get dirt on one of its critics. i am a techie dad.n. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my nam

was it that this new nafta, this usmca will not work out well for your clients? >> a couple things first, connell, nice to be back with you, congratulations on the new show. two really main messages. first, before we can even get to the impact on the the industry of the new usmca or the new nafta we have to get over two major hurdles. there were two big elephants in the room today. one are the steel and aluminum tariffs which are increasing cost of building cars and trucks in the united states. it is distorting how we look at nafta or the new usmca and the second is specter of tariffs of auto imports and imports parts. beyond that, these new rules for autos under usmca are -- connell: rules of origin. >> rules of origin, that's correct. connell: how much after car has to be sourced from north america. raise the cost. so people know, your group, global automakers, you guys represent foreign auto make that's operate here, mercedes or bmw, toyota, companies like that right? >> yes. connell: so is it going to be more expensive, bottom line for us americans who want t

the other moment we saw kind of compelling was the signing ceremony for the new nafta, the new trade deal between canada, the united states and mexico at that ceremony, justin true dough refused to hold up his version of the document when the other leaders held it up they encouraged him to do it he left it there very pointed there and justin trudeau not calling it the usmca, the term that the president prefers for that document, instead it the new version of the north american free trade agreement justin trudeau not entirely on the same page as the other leaders as the day went on but ultimately all eyes on tomorrow here in buenos aires and that's when we get the big dinner between xi jinping and president trump. no indication there is an enormous deal and hammered out instead sort sf a lowering of expectations at this point people saying, what we might get get is positive rhetoric and signal maybe agreement to continue to talk that might be the bar for which people are headed here for that dinner tomorrow night. but we keep you posted on what we hear. >> is there any indication eamo

so how did we get new nafta? a lot of responsible people surrounded donald trump and tried to encourage him to do as little damage as possible to the most important trading zone on earth, and the good news is, that although the president crashed into the podium and knock the cellphone to the floor the screen is not too badly damaged and and a half tase it'sing to be repair and brought ted the modern age when people only good faith can negotiates in the digital economy -- none of which got done no con truck stuck work. all that happened was nafta was prevented from being destroyed. one question we talk about here tonight is nationalism and globalism. supposed to be about -- north american lungs breathe chinese pollution. russian missiles shoot down malaysian airliners with european citizens aboard. the only way we are going to stop this planet from getting too hot for our spears to live on is if we all work together. it's one planet. [applause] we love our countries, only through countries can be exercise our democ

i find interesting they raise the new nafta -- he raises the new nafta. i've been criticized by him by bringing trade deals to the embassy. guess who was the first group who agreed to a trade agreement. the mexicans. congressman cramer, that one provision we needed, rain grading reform. llamas cost us that by rationing our statements against canada. that is not a senator who will help in fighting against this trade policy. this is the person who's blind loyalty to a president and administration will sell our farmers down the road. i cannot point to a spot where i feel stronger about how we need to have a unified voice in north dakota to protect our farmers against a trade war that literally could bankrupt thousands of our farmers. [applause] >> when these were proposed, i testified at two hearings. i didn't see you at either one of those hearings testifying on behalf of these farmers. it's interesting that you point to this news story when the sources were two unnamed sources. not even the ambassador would verify the story. it was the president of the uni

a lot of people said once the new nafta got taken care of, the president could turn to china and chinaould be under more pressure to concede or do something. what are you hearing? >> one of the big signals we get out of the white house is they new naftank the bolsters their alliance when it comes to taking on china. part of the argument they are making broadly is they would like to see a repatriation from , sourcing a lot of products and so on. the product you are making in china, make it here in north america. part of a greater economic battle in terms of china. there's something really interesting happening at the g20 which is kind of unexpected. donald trump has built up this great reputation for bashing allies and he has done plenty of that on twitter, but he really into the dinner tomorrow, a number of allies lining up with him, including , who see inexico him a better position or a better hope in this grand economic battle. we be lookingld to light hiser and navarro as being more hawkish or should we be looking at the man who once -- wants a deal done and the art of the deal. wha

extent that trump wants to have congressional action on any of this on these policies for example the new nafta treaty the u.s. m.c.a. treaty or some new china initiative we'll have to have the cooperation of congress i think congress might be more likely to move along with a lot of what he's been promoting but one has to be worried being outside of nafta side of the u.s. canada mexico training area because that will affect the german market and the action towards china will also affect the german market because the chinese producers will try to sell them to europe and that's going to affect germany which is an exporter country protests about it thank you very much thank you. well off to the midterm elections that's when u.s. politicians said they consider the bill from the hell alone proposal that would carry plenty of new economic sanctions against russia and of course off to the midterm elections is well now and with the democrats strengthened many believe russia could be hit even harder so is moscow concerned well we went to a russian and german resources conference in pots here in germany

>> to the extent trump wants to have congressional action on any of this, these policies, a new naftaaty, the u.s.mca treaty, you will have to have the cooperation of congress. congress will be likely to move along with what he has been promoting what one has to be worried being outside of nafta, outside the u.s., canada, mexico trading area because that will affect the german market. any action to china will affect the german market because the chinese producers will try to sell into europe, and that will affect europe -- germany which is an export country. helena: after the midterm elections, that is when u.s. politicians consider the bill from hell, which would carry plenty of economic sanctions against russia. and after the midterm elections is now. with the strengthened, many believe russia could be hit even harder, so is moscow concerned? we went to russian and german resources conference in potsdam to find out. reporter: it is a long day of speeches and talks, networking and more networking. business as usual it seems, but what is about the looming threats about a new threat of

how do we get the new nafta? a lot of responsible people surrounded trump and tried to encourage him to do as little damage as possible to the most important trading zone in america although he crashed into the podium the screen is not too badly damaged and nafta is waiting there to be repaired who can do things like negotiate for the economy no constructive work got done it was just basically presented from being destroyed so talking about nationalism and globalism. north american lungs breathe chinese pollution russian airliner shut down malaysian airplanes we all have to work together. it's one planet. [applause] we love our countries only through countries can we exercise our democracy but we work together with friends and partners he got nafta by bullying not treating them as partners so now canada and mexico are less powerful even though that was true obviously we can work cooperatively together but with america first are hungry first where france first or germany first it gets progressively less attractive

it is nafta or is it a new deal? >> probably 85% nafta with a new name. ta was signed 26 years ago, there was no digital commerce position because there was no digital commerce. it needed to be updated. there is a new deal about the automobile manufacturers. there is certain parts that make it difficult to do certain trade with china. but it's more of a rebranding and not fundamentally different. >> and the background of all this is tough relations with trudeau and with mexico, including this week the policy of asylum seekers coming into the u.s. >> he needed to rebrand it in order to do it. they are so anti-trade, a lot of this was to get out of the box he created for himself. the russian thing, i'm used to the idea of when you go buy a place in real estate, there are chocolate chip cookies. $50 million penthouses, i never encountered that buying a piece of real estate. >> the tower thing, let's not forget heading into the republican convention, the trump republican platform toward russia changed dramatically. >> basically, yeah. though, interestingly, on

this new agreement replaces nafta. mostly this is ceremonial because the governments of those three countries still need to ratify the deal. president trump has meeting scheduled with world leaders during the g 20 summit. they were supposed to meet with russian president vladimir putin but he cancel that meeting yesterday. the reason he was given is because russia seized ukrainian ships. later today lawyers for president trump's former campaign chairman, banner for. and prosecutors for special counsel robert mueller are due to appear and shut -- federal court in washington but this is days after prosecutors accused paul manafort of breaking his plea deal by lying to investigators. manafort was convicted earlier this year on financial fraud charges. the hearing today is to set the schedule for his sentencing. >>> california governor elect gavin newsom heads to mexico city today for tomorrow's inauguration of mexico's incoming president, andres manuel lopez obrador . yesterday near san diego, newsom toward an immigration

try and see if they can sort some sort of deal meanwhile mexico and canada are going to sign their new nafta deal with the united states at some point during the g twenty as well so you can understand why the u.n. secretary general at a news conference just a couple of hours ago was saying look we've got to put all these divisions behind this and concentrate on the things that the twenty of us working together can actually do something about and he's talking about the global economy because there are people worried that it could well be heading for another recession and top of the agenda is global warming and that is a big problem because of course one of the biggest economies in the world the united states has a president who says that a report from his own administration which warned that effects of global war. i mean we're going to get much much worse if we didn't do something about it he didn't believe and so i asked him how do you get them to forget this idea of me first and want together until you get here is turned to me and said will you tell me how to do what i'm not the u.n. secret

putting canada at the end of the new agreement instead he referred to it as the new nafta now for mexico this is significant it's a significant achievement for the president to this is last official day in office and we should note mexico also in the same day but at a separate location the stoat at the highest order in mexico on donald trump's son in law jared cushion or for his efforts negotiating this deal there is also another trade issue on the table and that one between china and the united states the two leaders set to meet on saturday tomorrow what can we expect from that has there been any progress any hope of progress on trade with china. well both sides are expressing optimism but at the same time many are wondering how it's going to be possible the president's chief economic advisor larry kudlow saying that an agreement could only come into effect if china changes its practices what they call predatory trade practices the theft of intellectual property the dumping of cheap chinese goods into the united states and cyber attacks now china believes on for its part that it has mad

hostages from north korea and there is a new nafta agreement as well. when i think of americans going into the voting booth. they will look at those two directions for the country and they will vote republican. north korea has not fired a missile in almost a year. congressman, and there are others. the list goes on. and the american people get a chance tuesday to prove to the democrats they are not half as dumb as the democrats insist they are. congressman jim jordan. great to have you with us as always. be sure to vote in our poll tonight. do you think the president's tireless high energy campaigning on behalf of republican candidates will set the standard for how future presidents must campaign in all elections? cast your vote on twitter @loudobbs. up next, early voting numbers suggest turnout for the mid terms could be at an historical high. the dean himself ed rollins joins me to talk about what all this means. republicans or dimms. who mines when we continue. we'll be rig when i was shopping for car insurance, the choice was easy. i switched to gei

in fact the canadian prime minister just to reflect some of that he kept referring to it as the new nafta instead of the u.s. m.c.a. maybe because ca stands for canada that's at the end and also the fact that still looming through all of this and not in that agreement with the lifting of tariffs on canadian steel and aluminum that is put in place by goods shipped to the united states from canada so there are still some sort of thorny issues between all of these players but at the same time donald trump projecting this is a victory somewhat prematurely many suggest all right thank you very much it's with all the latest on president trump's schedule and some of the issues he has been tackling today thank you very much kimberly. a lot so holzhausen demonstrators have been rallying in one desirous in protest at the g. twenty economic policies and the demonstrators on lighting to get anywhere near the need as though he calls the police and border patrols of cordoned off a twelve square can only say area. around the convention center where the summit is being held public transportation is also

craig: it is unlikely the tariffs have much to do with this or the new nafta.his is a matter of car sales being in terrible shape. they are not being in outlook for that to change anytime soon. gamut, whether talking about smaller cars like the chevrolet cruz or bigger sedans like the buick lacrosse. this is something you have seen coming, in part because you've seen ford and fiat/chrysler make similar announcements where fiat chrysler stopped making the dodge start. ford saying it will get rid of all cars they produce in north america, with the exception of the mustang. this is something detroit carmakers have been up against able torms of being make sedans able to make sedans profitably that can compete with the japanese and the koreans and there waving the white flag at this point rather than continuing to try that fight. vonnie: we do have a response from the canadian prime minister, who says gm workers were the heart and soul of the city where the gm plant had been for years. the expect -- expressed deep disappointment in the gm ceo. let's check in on the

how did we get the new nafta? women tell your story, true story about a president trump on his most important trait of i.c.e. what a surprise on election 2016 he decided to trade of china was going to be an issue. as one does the asked his son-in-law to find him one. [laughter] jared kushner as one does went to the amazon website and type the word china and trade into the browser and he pulled up a video called death by china made i am in named peter navarro. very exciting video, lots of flames. no peer-reviewed articles. i don't know what he was teaching. any sound achieve trade advisor to the united states. maybe it's because in president trump is making notes on his approach to trade, he wrote as a prompt and one of his speeches trade is bad. so how did we get the new nafta? a lot of responsible people surrounded donald trump and try to encourage him to do as little damage as possible to the most important trading zone on earth. the good news is although the president crashed in and knocked itself onto the floo

twenty summit about this new trade deal is it seen as a real improvement on nafta. well not really brant most analysts that have taken a look at the agreement would conclude that it is not significantly different to the original nafta agreement maybe the only very important aspect is that considering that nafta was signed in one thousand nine hundred three that it includes a lot of digital aspects that did not exist at the time but other than that and other than the concessions that it made for some of the dairy industries and the automotive industries for the united states it essentially is still a free trade agreement between canada mexico and the united states maybe that is a sort of relief for people participating at the g twenty summit as it is a multilateral agreement and a commitment to free trade by those three countries but you have to put things in perspective and take a look at all the damage that the uncertainty during these years has actually caused when donald trump was essentially suggesting that it would end nafta at all and have no free trade agreem

by the way with this new nafta deal, well the new trade deal between canada and mexico, that has to beified by both chambers. the issue here now will be nancy pelosi and if the democrats will step up and do what is right for this country and making this, being able to have this go through both chambers smoothly. stuart: senator elizabeth warren opposes it. the new nafta, usmca, she doesn't like it. >> union members will find out who their friend is at this point and it is certainly not the democrats. stuart: fair point. on the left-hand side of your screen we're seeing various world leaders arrive for the official opening ceremony. they will take their positions in this group photo that comes up. now in the past they all used to wear these rather strange outfits. >> in the past the president of the united states, barack obama would wave and would, remember, virtually with every international photograph i think you will not see that certainly here. but this is, our argentina of course in a little bit of a position because they have also said that they're going to take a look at human ri

does is that it requires there be an independent ability to form an independent union with this new nafta number one and secondly i don't know if it's 30 or 40% by one of those figures that mexico has to pay a wage of $16 i think 50 cents an hour. that's a huge difference. that's when henry ford decided back in 1914 he was going to redouble the wages of autoworkers in the united states there are some other things with regards to the environment that are good. so i think if we are moving in the right direction whether it's there all the way i'm not quite sure but all i know is after nafta passed our manufacturing work base decreased tremendously in the united states. people who lost their jobs, 1 million people lost their jobs from nafta and the deficit in mexico and canada was $181 billion a year. we were going in the wrong direction. i think this will help correct it but we still have some other things to get. we have a lot more work to do. >> one-story that i thought he was going to tell about his dad visiting detroit and having difficulty finding the right size vehicle to take them aro

and out of the ir iran deal anda new nafta agreement, what was house and congress contribution to that? senate helps to supreme court justice, and on tax cut. but the other big things, biggest promises we made in 2016, we have not got those done, we have to the same energy and passion about getting those done. >> chip roy, let me ask you this, securing the border. controlling spending. repealing government control over healthcare. do you get a sense that republican party in house of representatives will push that agenda even in face of radicals who are taking over the various committees, is it an obligations of republican party to press their case over and over. i get a sense that everyone is out for themselves, a bunch of square els not herded -- squirrels that are not being herded. >> i said something, i am not running for congress to run to get reelection, too often the case, too many in washington both sides aisle, they get here, they start thinking about moving leavers to get reelected. that is not why you are here, you are here greatness in country is held back by government that

mexico and canada are expected to sign a new nafta. we are hearing that gop senators want to pass it through congress this year during the lame-duck congress. how's that going? >> for months and months, we would not meetrs a deadline this year. negotiators did reach an agreement at the g 20. some congressional republicans time.ook, there is still they are expressing concern that in a new congress, democrats will control the house and could look for concessions on the deal . leading republicans say no way, there is no time left on the legislative agenda and it would really risk running afoul of the process. it looks like it is not going to happen this year. look for congress to take it up next fall. still ahead, foxconn said to be planning deep cost cuts. they are planning on a difficult year ahead. but first, here -- a cio joins us next. this is bloomberg. ♪ shery ahn: this is daybreak asia. i am shery ahn in new york. perspective on the state of u.s. markets headed into the weekend, let's welcome a chief investment officer and investm