billion dollars of mexican goods and services last year but an ongoing spat over the north american free trade agreement has put back relationship at risk another challenge for the president elect so far donald trump has been welcoming but whether the two plain speaking leaders can maintain a positive relationship remains to be seen. despite his left wing populist rhetoric obrador has been keen throughout the election campaign to show that mexico will remain open for business. a potential new metals giant is trying to fend of a crisis in the steel sector germany citizen corp and india's tata are merging their european steelmaking operations after two years of talks that's of course of at the top of forty's approve of the deal which will lead to job cuts. the joint venture comes in response to the problem of overcapacity on the global steel market as the new firm which will be known as to some crap tata steel will become europe's second largest steelmaker. if this is really the key issue to move successfully for the global exist up as if he had also cost tremendous additional imports into europe imports

trade tensions are high as the president tries to negotiate a revised north american free trade agreementmanufacturing sentiment standing at plus 21 injune. down through a second straight quarter. the mood soured full two quarters in a row. looking at the markets... the nikkei has opened weaker due to the trade tensions we're been talking about and also our survey not looking so good forjapan for the big benefactor is taking an impact. australia is gaining and that is because energy stocks are doing well after oil prices froze. that is it. thank you for watching. this is bbc news the top stories this hour. votes are being counted in mexico's parliamentary and presidential elections — the largest in the country's history. football fans across russia have taken to the streets to celebrate their team's surprise world cup victory over spain. in the other match croatia beat denmark. more than 100 firefighters are working in what are described as "extremely testing conditions" at the scene of a huge moorland fire in lancashire. after strong winds caused two fires to merge, they say they're deal

with the european union, canada, mexico with steel tariffs, trying to renegotiate the north american free trade agreement. in all these situations there are question marks over what is the endgame. broadly speaking themi stration says that if we cause enough pain for these countries, they will come to us with concessions dnd then we wiide. jane: how much of a gamble is that? greg: well, the theory is nobody likes tariffs, so the idea of thsu.s. raising tariffs now in the end they basically push other countries to lowering their barriers and we end up in a better place. the problem is, they have gone about it in such an adversarial way that they have created bad feelings out there. the chinese are not trying to does are trying not to overplay th and telling state organs to not go overboard criticizing the united states. erare signs in germany that they are looking for deals on automobiles. jane: but how long could this go on for? ougreg: it be a number of years. jane: a lot to keep watching and looking out for. greg: yes. now, on the other hand, the economy is doing reasonably well and as i said, this is

there are different ways of when we hadit and the north american free trade agreement, we finished thatt got to our congress in 1994 and it was the first trade agreement that protected intellectual property, protected international investors and had a dispute settlement and eliminated all industrial tariffs and opened agriculture. what did the wto do? it was created -- we were working on it and it was created and they borrowed all the rules to apply international. if we stayed into the trans-pacific partnership, we had new rules and they could have been picked off and copied 164fit the bdo 164 -- wto members. i am sorry we did not do that. david: the north american free trade agreement is in play under this administration. we spoke with carlos gutierrez who said we -- he thought we were closer to getting a new deal on nafta that people understood. do you have a sense where we are in that process right now? carla: i think we have come a long way. we have rules, some of which are quite similar to what we agreed to in the trans-pacific partnership before we pulled out and it would be a ble

theof the many benefits of north american free trade agreement with mexico and canada is it improved conditions in mexico. they have other reforms to it has created opportunities in mexico, which has made it less attractive for mexicans to come to the united states to seek work. they can find employment in mexico. it has become a leading automobile manufacturer. if we withdraw and raise tariffs mightican goods, we unconsciously be encouraging mexicans to come here. mexican migration over the next 10 years has been negative, more going back to mexico because there is opportunity and stability. host: where are we on the nafta negotiations? pause.it has taken a it has gotten complicated. in needs to be revised in certain areas. it is a 25-year old agreement. mexico has a new president, will have a new president. nafta, but stay in will be negotiating with the administration. there is a new team in mexico. host: on the transpacific intnership, was it a mistake your view looking back not for .he u.s. to have joined that would that have mitigated some of the concerns president trump has ex

of weeks ago to european leaders that he thinks nato should go the way of nafta the north american free trade agreement they should be dismissed and that within a couple days after that he replaces that international meeting that challenge the nato with what donald trump really admires which is a one on some with one on one summit with a lot of reports in of russia in other words for trump and his advisors you really are talking about the idea that there are thora tarion allegiance that lead countries and that's where power resides they can live with putin's russia they can live with kim's north korea they can live with heir to once turkey because they can work with them individually rather than having these messy international institutions that are supposedly ripping america off so that the grain how do you respond to that is this the greatest crisis since one thousand nine hundred five forced to be done. i think it is the biggest challenge to the liberal order since its creation in the years after the second world war there been previous spots over defense issues for example over iraq there have been

lopez 0brador has said he is pro—free trade and wants to maintain the north american free trade agreementminated a chief negotiator to take the negotiation on because it is still unresolved. ' gs says he thinks the deal can be struck in the next two months. —— that negotiator says. that is very optimistic given the us midterms. what it illustrates is, for the first time, uncertainty is, for the first time, uncertainty is not so much coming from the mexican side, it is coming from the us and what it wants to do on key issues like auto wills of origin, the sunset clause than after. that is really where the big uncertainty lies. a big word about what is on top of his to—do list? what is the first thing he will have two tackle? he has a long transition and does not take office until december but w has a long time to tweak his team. —— he has a long time. on average there are about 93 murders a day in mexico this year. that is a huge issue. most people realise you cannot have immediate results on that. tackling corruption as well would be the big area for him. really interesting. really good t

trade agreements are unfair. in the case of canada and mexico, it is quite striking that, mexico, it is quite striking that, mexico specifically, by the north american freede barriers are higher than the united states, mexico has moved further in implementing the agreement and the united states has had to. by tearing that agreement, if you were to go down that path, you could argue he is doing a disfavour american exporters. andrew, thank you very much indeed. ina andrew, thank you very much indeed. in a moment, we take a look through the business pages, first, a quick reminder of how to get in touch. stay up—to—date with all the business news as it happens on the bbc's business live page. insight and analysis from our team of editors around the globe. and we wa nt editors around the globe. and we want to hear from you, get involved on the bbc's business live web page. on twitter... and you can find us on facebook. business live come up on tv and online, what you need to know, when you need to know it. what other business stories has the media been taking an interest in? thomas stevenson is back, to discuss some of these. let‘s talk twitter. a story whic

that could a temporary step-back and meanwhile, we still have negotiations over the north american free trade agreement with canada and mexico and a potentially damaging conflict with china that needs to be resolved s there's a lot on the administration's plate with trade. robert: are those countries expecting any movement? they see the movement with the e.u. do they expect a move before midterms on their own agreements? ana: potentially, there is discussion about trying to finish the nafta agreement before the end of august but it's still pretty much up in the air. it's possible this could prove to be a blueprint for these other agreements but it's also possible that other negotiations could be a blueprint for how this goes. we did see with china, the two sides come to what seemed lik tentative agreements and then actually have the president decide those weren't tough enough measures and wal back. could that happen with the e.u., as well? we'll have to see. bert: you had a great piece, vivian, about how eveone's trying to evaluate president trump, how do you get him to budge on the signature issue of

suggested he wants to postpone talks with canada and mexico about changes to nafta-- the north american free trade agreement-- until aft the mid- term elections four months from now. >> nafta, i could sign it tomorrow, but i'm not happy with it. i want to make it more fair, okay >> you can't do nafta before the midterms. >> i want to wait until after the election. >> sreenivasan: trade is one of t in mexico it is electionen tho day: the largest election in the ncludes's history that i a new president and more than 3,000 other local state and federal officials. the issues on the minds of voters there have lithee to do with.s. newshour foreign affairs correspondent nick schifrin reports. >> reporter: in this middle- class neighborho, mexicans upset by widespread corruption and violence started voting early. for almost a century, mexico's only known two establishment parties. but 25-year-old ethel vasquez voted for a new, leftist party that's expected to sweep. >> ( translated ): amlo signifies a new approach. i've tried the pan party, i've tried the p.r.i. party, and i'm going to try the new candidate to see

couple weeks ago to european leaders that he thinks nato should go the way of nafta the north american free trade agreement they should be dismissed and that within a couple days after that he replaces that international meeting that challenge the nato with what donald trump really admires which is a one on some with one on one summit with a lot of reports in of russia in other words for trump and his advisors you really are talking about the idea that there are thora tarion allegiance that lead countries and that's where power resides they can live with putin's russia they can live with kim's north korea they can live with their wants turkey because they can work with them individually rather than having these messy international institutions that are supposedly ripping america off so that the grain how do you respond to that is this the greatest crisis since one thousand nine hundred five forced to be done. i think it is the biggest challenge to the liberal order since its creation in the years after the second world war there been previous spots over defense issues for example over iraq there have been

billion dollars of mexican goods and services last year but an ongoing spat over the north american free trade agreement has put that relationship at risk another challenge for the president elect so far donald trump has been welcoming but whether the two plain speaking leaders can maintain a positive relationship remains to be seen. despite his left wing populist rhetoric obrador has been keen throughout the election campaign to show that mexico will remain open for business. let's move farther north don't trump has announced a meeting between u.s. officials and their e.u. counterparts to discuss the ongoing trade tariffs spat saying the european union wanted to quote work something out that's after the e.u. renewed its vowed to fight back against the u.s. president's threat to impose a twenty percent tariff on car imports and a letter sent to washington that you're. commission also claimed the move could cost the united states up to fourteen billion dollars in gross domestic product release the u.s. currently imposes a two coins last percent tariff on passenger car imports from the e.u. automakers in

the president would know that but certainly one option would be to withdraw from the north american free trade agreement all together and the president has threatened that many times don't forget the united states has our own mid-term elections in early november when the united states will be electing a new house of representatives and senate and for political purposes if the president feels the. u.s. participation and now we benefit him politically before those elections that's certainly a scenario and we have to remember again the president mexico wanting to be inaugurated until december first so this train may have already left the station by the time he's even in the presidential palace in the mexico i term has spoken will me of the president elect has an a but is this going to be an easy relationship with this leader he's pretty leftist well you know it's really interesting after the july first election both presidents are the president of the united states and president elect of mexico really made an intentional effort to reach to the other they had a very friendly phone call it was reported the u

congratulations the two countries shared goals as well as their joint efforts to update the north american free trade agreement a syrian state media are reporting that rebels in another town in the southern provinces have surrendered to president bashar assad's forces. but some activists disputed a deal has been reached government forces retaken several towns and villages in recent days it's come of the cost of dozens of civilian deaths. has more from beirut in neighboring lebanon. the government has been taking ground from the opposition the military offensive began on june nineteenth the government controlled thirty percent of the time it now controls. it is taking territory either through military means or some towns are falling. to reconcile with. the latest in a string of towns agreeing. to accept the return of state rule but other areas and other rebel factions are still holding out they are involved in negotiations with the russian military that are being mediated by jordan but up till this moment there has been no progress. the russian military is telling them is that you need to surrender to accept or

they do coincide, particularly with the north american free trade agreement., they may cause the two men to but heads. thank you. as the hot weather continues across much of the uk — customers in the north west of england have been warned to use water sparingly — to try and avoid a hose pipe ban. in northern ireland the first ban in 23 years is in place — after days with very little rain. northern ireland water says it cannot treat water quickly enough to satisfy demand. emma vardy reports. this is the hottest summer northern ireland's seen for decades. north woodburn reservoir provides belfast and near by towns. water usage has reached an all—time high. this is one of 23 water treatment plants in northern ireland. and while the reservoirs have a healthy level of water in them, plants like this are all operating at full capacity and can only treat the water and pump it out so quickly and demand is exceeding supply. some areas have seen exceeding supply. some areas have seen a exceeding supply. some areas have seen a drop in pressure and water loss. we are doin

canada and mexico to renew nafta the north american free trade agreement stagnate some firms like this toronto pipe maker are expanding u.s. operations in fear that the border may soon be a barrier my concern is the uncertainty about investing in canada. and what this will do even if it goes away to morrow. and united states you know look at working with companies as potentially risky. trade props up canada's prosperity particularly with its largest trading partner the us more than a billion dollars in business flows between them every day now as canada's government sees it a protectionist administration in washington is sweeping away decades of consensus on trade that the u.s. itself helped establish after the second world war beneath all the bombast there's a logic to it that instead of having him a rules based system same rules apply to everybody the global trading system we've had. it's bilateralism awkward word but one off deals. they were the big guys are going to have one off the government in ottawa is hoping that targeted counter terror will add to pressure on the u.s. adminis

the separation of families we've been hearing a lot about lately obviously nafta the north american free trade agreement is being negotiated any president who wins whoever wins this election will have to take on that relationship in a trying time because there really is a level of negative rhetoric and challenging policies coming out of washington that we haven't seen for the last twenty years has makes us mexico relations does have improved i think the next president will have a hard time coming up with a strategy that's very different from the current strategy because on the one hand mexico needs the united states it sends eighty percent of its exports to the united states on the other hand mexico has to maintain its dignity and that's incredibly important for mexicans to have a president that will stand up to the united states and won't be bullied by the united states but the press will have to walk that fine line between managing the relationship on a day to day basis and keeping it alive and functioning without rolling over and giving in to the demands of a rather aggressive at times u.s. president

trump and the president elect of mexico lasted 30 minutes, they focused mainly on the north american free trade agreement and the possibility of a separate trade deal solely between mexico and the us know that might be down the road a bit and donald trump says they had a good conversation. >> the relationship will be a very good one. we will see what happens but i believe it will be a very good one. a very excellent election, better than anticipated. >> and richard lopez tweet did the the got a call from donald trump and we talked for half an hour. i propose to explore comprehensive agreement of development projects that would generate jobs in mexico and reduce migration and improve security. there was respectful treatment and our representatives will talk. this is a significant out face for the president-elect who vowed to take a tough stance against donald trump and been a vocal critic calling trump, quote, erratic and arrogant and his plan to build a wall xena phobic and racist. after donald trump was inaugurated the president-elect published a book titled listen up trump writing the us president and

>> we are excited about the discussions of the north american free trade agreement. they continue to believe there's a possibility that before we get to labor day we may have a reform nafta agreement. >> you are working on another plane to lower taxes at the individual cuts permanent. >> president trump release its import remake tax cuts permanent. who knows the legislation forward even if it's unveiled in the coming weeks. when you look at our trade deficit around the world from the nearly $800 billion on an annual basis, as you know well, fully half of goddess with china. for too long, china has had virtually unfettered access to the american economy and the american consumer and american companies have faced significant barriers. president trump will continue to stand strong until we achieve free, fair and reciprocal trade relationship with china. >> be sure to tune into "mornings with maria" at 6:00 a.m. eastern time for more of the exclusive interview with the vice president. tracee: we will be watching. italy's prime minister at the white house today. the leade

and growing their confidence in capital investment but our potential exit from the north american free trade agreement or nafta along with a growing list of tariffs and escalating trade tensions with our trade partners threaten to undo much of that progress. let me give you a few examples. one of our key hubs we serve is long beach, california and new quotas over the last few weeks, we haven't been sitting, a shift has been sitting outside court with a shipment of steel that normally would land in the port and we would ship it then to our customer. the reason it has been sitting offshore is there is a dispute over who is going to pay the tariff. we see it in our own consumption of steel, we buy a portion of our rail we put into the railroad from japan. it is premium steel built to a dimension we have a hard time and cannot find in the united states. our first shipment of that steel post tariffs happened in may and the boat set in san francisco harbor for four weeks while there was a dispute over who would pay the tariff which was $6 million and ultimately if we got an exemption which we filed with the

that's what we did with the north american free trade agreement.plemented nearly 0 tariffs over 15 years. now that we've got a policy of where were going, zero tariffs, time to get rid of the steel and aluminum tariffs which are driving the cost of cars and hurting the 136,000 tennesseans that work in the automotive industry. >>paul: you heard wilbur ross say this week that he's still going to go ahead with these investigations. which basically are designed to show, to answer the question, do cars that are imported pose a national security threat? do you think bmws or nissans imported are at all plausibly a national security threat? >> of course they are not. it's wrong for the president to use that pretext. the bread-and-butter part of this is of this.tennessee has become in many ways the number one auto state. we've got 929 auto parts suppliers. 50 percent of the cars we make here are steel. 10 percent are aluminum. when the price of steel goes up, 40 percent as it has since january, think of what that does to our economy and the jobs in tennesse

our potential exit from the north american free trade agreement or nafta along with a growing list of tariffs and escalating trade tensions with our trade partners threaten to undue much of that progress. what do i mean by that? let me give you a few examples. one of our key hubs that we serve is the port of long beach california. a ship has been sitting outside the port with a shipment of steel. the reason why t been shipped sitting offshore is there's a dispute over who's going to pay that tariff. we see it in our own consumption of steel. it's built to a dimension we're having a hard time and cannot find in the united states. our first shipment of that steel post tariff happened in may. the boat sat in san francisco harbor for four weeks while there's a dispute over who would pay the tariff which was 6 million dollar for that boat. if we got an exemption which we filed with the commerce department, whether or not there would be a refund. these are rail lines to get those to foreign markets. in the middle of the country roughly one out of every two acres is planted for export. china

they joined forces calling for ratification of the north american free trade agreement. they argued in support of george w. bush continuing the ban on assault weapons, although bush allowed it to expire. is ae same time, ford still involved in politics, making money. in part, funds for the ford library and museum, both of which opened in 1981. he was also making money for his family. he made large amounts of money from speaking, from memoirs, and from sitting on corporate boards . some accused him of being interested only in material gain. his former press secretary said .ord was ford incorporated a guy who only wanted to make money for his well-being. stung.iticism ford said, wait, i am not just sitting on corporate boards to make money. i am putting a lot of effort into this. ford could also point out he was involved in philanthropy. he established the jury ford invitational golf tournament. he raised over $1 million for charity. he helped to save the theater in california. he raised money to build an elementary school. he was very supportive of betty's efforts to crea

president is meeting with representatives from canada and mexico to renegotiate the nafta, north american free trade agreementr the proposed tariffs on imported cars, suvs and trucks, it's not looking good. a new study claims that the average price of a basic compact car will go up between $1,400 to $2,000. and a new suv will go up 2 to $3,000. the tariffs also making an impact on soda. coca-cola is raising prices. the company cites higher metal costs from u.s. tariffs imposed on chinese imports. >>> trading is under way on wall street right now. it could be a rough one for the tech sector. facebook stock took a beating in after-hours trading ahead of the opening bell. for more, let's check in with kcbs radio's financial reporter jason brooks. >> reporter: good morning. nothing has changed for facebook now that the stock market is active. facebook dropped some bombshells in its rngs conference call and investors are not liking what they heard. facebook said it's expecting its revenue growth rate to slow by the high single digits over the next couple quarters. there are several reasons for that including flat

to put continue working a strong, modernized, north american free trade agreement. ideally, this deal would be wrapped up as soon as possible while refining from doing anything that limits investment protections. agriculture has been bearing the of retaliation for things that have nothing to do with agriculture, this is not unfamiliar territory. while we have serious concerns about the retaliation we are we must commend president trump and his administration for working to address the problems that have existed for decades. i will give you one example. minimum support price for corn and wheat was estimated to be $100 billion in levels of the excess china committed to when they joined the world trade organization. let me be clear on this. china illegally exceed its wto limits by $100 million. putting this into contest -- questionsome people the need for support provided to our farmers. subsides, forl those three crops in one year, exceeded what people spend -- every crop on for every acre for the entire life of the farm bill. we appreciate china's business. we must a

trump administration is raising hopes for a renegotiation north american free trade agreement.ntative says it is possible the nafta partners will reach a deal next month. he said canada has not yet compromised in the same way that the u.s. and canada have. there's a new risk to turkey's economy. the country is dealing with a surge in inflation and a run on the currency. president trump has warned of large sanctions. -- if the president does not release a detained american pastor. the pastors accused of taking part in that failed coup two years ago. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i am taylor riggs. this is bloomberg. taylor.hanks so much, another sign oil has rebounded from the 2014 to 20 price crash, bp made its biggest deal in two decades. the deal gives the london-based energy giant a position in the permian basin, a swath of west texas and mexico that is the world's fastest-growing oil region. joining us is bloomberg's energy reporter. great to have you on the show. is

i think we are going to have something worked out with mexico on nafta that is the north american free trade agreement with mexico and canada that the president has demanded be modernized or vaporized and also throughout maybe we can work something out with the european union. wednesday he will meet with european union who has yet to back down amid the president's threats that he will hike tariffs on foreign cars coming into the us, so there was some conciliatory wording amid us clicking tensions with our largest trading partners took something else we just heard that optimism among manufacturers is at a significant high. he also talked about a different ingenuity sane american ingenuity has the railroads, put a man on the moon and referenced in a way rich people love rockets. on guessing he's talking about elon musk who is the head of tesla and quite frankly someone he has attacked in the past of amazon who has blue origins which has his own rocketship country-- company. president trump same let them do it and we will rent on the launchpad. we will give them credit if they are able to get to mars. i

canada and mexico to renew nafta the north american free trade agreement stagnate some firms like this toronto pipe maker are expanding u.s. operations in fear that the border may soon be a barrier my concern is the uncertainty about investing in canada. and what this will do even if it goes away to morrow will buyers and united states you know look at working with companies as potentially risky. trade props up canada's prosperity particularly with its largest trading partner the us more than a billion dollars in business flows between them every day now as canada's government sees it a protectionist administration in washington is sweeping away decades of consensus on trade that the u.s. itself helped establish after the second world war beneath all the bombast there's a logic to it that instead of having him a rules based system same rules apply to everybody the global trading system we've had for the last seventy five years then it's bilateralism awkward word but one off deals. they were the big guys are going to have one off deals. the government in ottawa is hoping that targeted c

subcommittee members may also ask about the status of nafta, the north american free trade agreement. live coverage here on c-span 3.

obrador the meeting is expected to include discussion on the renegotiation of nafta the north american free trade agreement and also how economic development can help stop migration in to the united states off we go to mexico city our latin america editor lucien newman is there. hello kamado right behind me is the campaign headquarters of mexico's president elect and the rest manolo pace over a lot of this is where the meeting will take place with the u.s. secretary of state and his high level delegation that is accompanying him this is unprecedented we have the treasury secretary the commerce secretary of homeland security secretary and president donald trump's son in law jared kirshner his main and his personal advisor all of them coming here to mexico even as donald trump remains in the in the u.k. that gives you an indication of just how important this meeting is being seen by the white house joining me to talk more about the sort of. the conflict of relationship that has existed until now between the united states and its closest neighbor mexico is. who is an expert in the settlement of conflicts and

billion dollars of mexican goods and services last year but an ongoing spat over the north american free trade agreement has put that relationship at risk another challenge for the president elect so far donald trump has been welcoming but whether the two plain speaking leaders can maintain a positive relationship remains to be seen. despite his left wing populist rhetoric obrador has been keen throughout the election campaign to show that mexico will remain open for business. australia introduced a plastic bag and four states during the week it well nature should be happy some customers aren't especially when speaking about shopping that's angry and even violent scenes unfolded as customers refused to pay for their backs but luckily not everyone is suffering from so-called back which. for years us trains have taken them for granted now shoppers in sydney and elsewhere are facing a choice pay for a plastic bag or get your hands on an environmentally friendly cloth carrier for some it's been a pain free switch. so i've been using them for a while and i'm quite happy to see you see others are less enthusi

days says he looks forward to working with the new mexican leader to renegotiate the north american free trade agreement on nafta talks so far have struggled to satisfy us present donald trump's demands and as for trump well he tweeted congratulations to andres manuel lopez obrador on becoming the next president of mexico very much forward to working with him there is much to be done that will benefit both the united states and mexico. and during his victory speech lopez obrador addressed his country's relationship with the us which has been under strain since president trump took office. this goes on us with the government of the united states we will seek to have a friendly relationship and cooperation for development it will always be based on mutual respect and the defense of our countrymen the migrants who live and work on ridley in that country. the un's actually general antonio terrace in bangladesh for his first visit to camps hosting around one million refugees from man mom about investing government is seeking more support for the refugees. has this report. when sabera back home fled the horro

we must continue working for a strong modernized north american free trade agreement. ideally this deal would be wrapped up as soon as possible while refraining from doing anything that limits investment protections. while agriculture is bearing the brunt of retaliation for things that have nothing to do with agricultural, this is not unfamiliar territory for us. for years, the agricultural community has been highlighting the egregious tariff and nontariff trade barriers being erected by trading partners. while we do have serious concerns about the retaliation we are facing, we must commend president trump and his administration for working to address the problems that have existed for decades. i will give you one example. in 2015, china's minimum support price for corn rice and wheat was estimated to be nearly $100 billion in access of the levels china committed to when they joined the world trade organization. let me be clear on this, for just three crops in one year, china illegally exceeded its wto limits by $100 billion. putting this into context, we just finished

is partnering with them to give us greater leverage and negotiate a more favorable north american free trade agreement. you know, everybody here whines about china. everybody. they cheat on their currency. they treat their environment poorly. they treat their workers poorly. you know what we ought to do with china, compete with them. they're bypassing, they're doing what we used to do to strengthen the american economy. you look at your smart phone, the internet, global positioning satellite, touch screen technology, guess where all that came from? the american taxpayers that financed research to make those products possible. guess where all smart phones are made? they're made in china. you know so we just need so be smarter about trade policy and economic policy. you can't tariff your way to economic strength and growth. what you can do, and what we ought to be doing, particularly this body and this subcommittee, is promoting investment in the growth of the american economy. i apologize to you for coming here and appealing to congress that is constitutionally authorized to help you and is failing to

but our fonings exit from the north american free trade agreement or nafta along with the growing list of tariffs and escalating trade tariffs with our trade partners threaten to undo that progress. what do i mean by that? let me give you a few examples. one of the key hubs is the port of long beach, california and cause of new quotas over the last few weeks, a ship has been sitting outside the port with a shipment of steel that normally would land in the port and ship it inland to our customer. the reason it has been sitting offshore is there a dispute over who is going to pay that tariff. we see it in the consumption of steel. we buy a portion of the rail from japan, premium steel and built to a dimension that we are having a hard time and cannot find in the united states. our first shipment of that happened in may and the bat sat for four weeks while there was a dispute over who would pay the tariff which was $6 million for that boat and ultimately if we got an exemption whether or not there'd be a refund. you know what happens in soybeans, that's a critical crop for the middle of t

canada and mexico to renew nafta the north american free trade agreement stagnate some firms like this toronto pipe maker are expanding u.s. operations in fear that the border may soon be a barrier my concern is the uncertainty about investing in canada. and what this will do even if it goes away to morrow. and united states look at working with companies as potentially risky. trade props up canada's prosperity particularly with its largest trading partner the us more than a billion dollars in business flows between them every day now as canada's government sees it a protectionist administration in washington is sweeping away decades of consensus on trade that the u.s. itself helped establish after the second world war all the bombast there's a logic to it that instead of having him a rules based system same rules apply to everybody the global trading system we've had. it's bilateralism awkward word but one off deals. where the big guys are going to have one off. the government in ottawa is hoping that targeted counter-terror will add to pressure on the u.s. administration to settle th

from the start — he wants mexico to pay for a border wall, he wants to renegotiate the north american free trade agreementscathing about how mexico deals with immigrants who are travelling north to the us. well, we have a tweet from the president. he said he was sitting forward to working with the new president. —— looking forward. the sunshine is unlikely to last. during the campaign, mr lopez obrador was fiercely critical of donald trump. and the president tends not to go for diplomacy when under attack. here's one us—mexico relations expert on how this could shape up. overall we will see a different relationship between president trump and andres manuel lopez obrador, and he has been slightly silent in the face of taunts from the president of the united states. amlo is more confrontational, though, this will appeal to his base. part of his base would like the next mexican president to stand up to the president of the united states and so president of the united states and so there will be a change of rhetoric. i spoke to the bbc‘s katty kay from mexico city a short time ago, and began by asking her how

we have been renegotiating the north american free trade agreement at an unprecedented speed. this would be the first comprehensive renegotiation of the u.s. trade agreement. as part of this process, we have consulted with congress as required by the tpa. hopefully, we are in the finishing stages of achieving an agreement in principle, that will benefit american farmers, workers, ranchers and businesses. we are also finalizing revisions to the u.s./korea free trade agreement. we have arrived at an agreement with the koreans to strengthen the domestic truck manufacturing here in the u.s., allowing more trucks to enter their market without regulations and fix a whole host of related issues related to agriculture, pharmaceutical products and other products. we are actively engaging in efforts to commence new trade agreements including the newly announced eu initiative from yesterday. after the confirmation of my deputies in mid march of this year, i instructed ambassadors mahoney and garris to work with congress and work with their foreign counterparts to find future partners for