through tpp, is one example. we are working to ensure that there high standards for intellectual property protection. we have begun the process with our tpp partner of explaining to them what is in u.s. -- [inaudible] with regard to data protection. and how it work and why it's in there. and that's part of the ongoing discussion we are having now. >> i urge you to embracic what has been a strong consensus here and throughout the country and the maximum protection possible. and the second question is one i know that you have addressed not directly today, certainly, t been raised. that's the question of japan and auto industry and whether or not after many years of efforts to open up the japanese auto market. we've had, in my judgment, years of frustration, which i think creates kind of a predicate for skepticism when it comes to tpp and whether or not in tpp in place whether or not we're going to the kind of access to the japanese allowing their market to open up as it relates to auto and i want to get your view o

trade agreement or tpp? >> we are still on our 90 day consultation phase with congress and stakeholders, but we think there's great potential they are to remove barriers, non-tariff barriers and express the regulatory standard issues that create unnecessary costs and obstacles to trade. we spent the last year coming year and half working the key outstanding issues are and we think there's a lot of momentum over there, not a political will to address outstanding issues. once we finished the 90 day senate and a process can have successfully look forward to launching negotiations. >> i'd like to address another issue that could not protecting trade secrets and trade agreements as they look to e.u. negotiations. they generally include confirmations that says a manufacturing process. unfortunately, theft of trade secrets, especially buyer for foreign entities has greater global competitiveness and increase access and information to the traditional infrastructure that drives their information economy. i'm wonderin

we question the wisdom of pursuing the tpp in the first place.e do have, for better for worse, the world trade organization, which has lower tariffs around the world that has allowed us to increase our exports as mr. froman was explaining in his speech. so what the tpp is about is all of these other things are around the terrace. it is about these investors tribunals, harmonizing rules for food safety, harmonizing rules for intellectual property. a lot of rules that if citizens are not really participating in the formation of those roles, they're not necessarily going to work out to the benefit of working people and american citizens. we are very active in the following the negotiations, advocating for better rules that will help workers, real farmers, small businesses, because our past trade agreements starting with nafta and down the line have basically been big packages that benefit the 1%. and if anybody else benefits, it is really only by accident and not by design. >> celeste drake, your schedule to testify on bangladesh and the situation w

will you engage on the issue and the tpp negotiations? you said your number two priority was level the playing field. in japan right now the playingfield has been tilted in favor of the government-owned entity. we need attention to the matter. will you commit to in? >> yes, senator. one of the chi issues we agree to let japan come in tpp is reach the agreement upfront on part of that issue. and also agree to a parallel negotiation on the insurance. so even beyond within the tpp agreement we'll try to address the particular by lateral issues with japan. >> thank you for that commitment. i appreciate it. when you were in my office, we talked about my interest in africa and trips we have made there. in particular, what we did last year at the 11th hour we got a third party extension on the african growth and opportunity act which comes up for renewal in 2015. we can't afford to wait until 2015 until the last minute to renew the act. what is your plan as u.s. trade representative to engage in term of timing wise and effort. >> senator, the fo

negotiations that we have strong enforceable rules on the tpp context to address the soe's? >> that is the bulgaria we are trying speed on disciplines and soe's that compete with private entities they must use them on a commercial basis. it's also part of our dialogue with the chinese in particular outside of tpp in particular about their reform efforts and how important it is for leveling the playing field for the company's. >> so you'll have bilateral investment discussions and talks with china that is a main part of the agenda. >> i want to talk about the steel industry for a moment. the company called irg steel in new york closed about a year ago several thousand people lost jobs. this is an industry more than most operating on very thin margins with a 50% profit partly because of a trade decision made by the administration and the commerce department over the last three or four years there is a new steel plant in youngstown there is an expansion with u.s. steel which i visited with the ceo last week. there's other steel investment programs. the problem is the - business

they have apparently changed their minds after japan has decided to join the tpp beginning in july. they appear to be concerned that their country may be excluded from the free trade zone in this region. >>> the unemployment rate in the you're -- eurozone hit the highest level since 1999. the european union data office says the overall jobless figure stood at 12.2% across the 17 eurozone countries. that's 0.1% more than the previous month. the job situation is worsening in countries that have adopted belt-tightening measures in return for additional bailout funds from the european union. spain had the highest rate at 26.8% followed by portugal at 17.8% and cyprus at 15.6%. latest available data for greece in february was 27%. the situation is especially serious for workers under 25. over 56% of youth workers in spain and more than 62% in greece are without jobs. the european union is now considering countersteps. officials want to come up with concrete measures by the time eu leaders hold their summit meeting in june. >>> officials with the operator of the fukushima daiichi nuclear

froman has been engaged in tpp and other trade talks as deputy national security adviser for economic international affairs. all right. that's going to do it for biz this hour. let's close things out with a check of the markets. >>> an american filmmaker has made her mark by exploring the legacy of world war ii. her latest work is about a japanese photographer and the atomic bombing of hiroshima. ai key koe eastbound bee has more. >> i wonder how he lived his life. >> reporter: she is a japanese photographer. this summer, a documentary telling the story of world war ii through her work will be shown in japan. since 2007, she has been photographing objects that belong to victims of the atomic bomb set off on hiroshima. the director followed the artist up until her 2011 exhibition in vancouver, canada. she said she wanted to show how each person's life is precious. >> most americans think of the bomb, the visual they think of is the mushroom cloud. i think what you cannot see when you just see the mushroom cloud is that many people died at once, but they died one by one. >> reporter: so

it's on the e hers and the digital economy on the tpp agenda. >> last question on the tpp renewal question, are you all going to send to us a proposal that represents your views on what tpa is all about? or how do you envision that unfolding? >> well, senator, obviously i'll need to consult with usgr. our contention is to engage with the committee and the house ways & means committee as you work through tpa issues. >> you would send the chairman, chairman baa cuss -- bachus so you can get a sense of the priority. >> we have to work through and happy to engage with you. >> thank you, mr. chairman. distorting behavior state-owned enterprise. we know that's an increases problem in terms of deeply entenched state capitalism model, if you will and the impact on u.s. competitive. it's a big issue, one that congress didn't think much about when we considered fast track 11 years ago. and one we should think about now. can you assure me there won't be backtracking on the issue of state owned enterprise the phut we get to tpp. we have strong rules in the tp pressuring -- tpp context to address it. >

. >> the tpp is important. i think it's really likely to encourage japan to make a structural reform in a way that it can really lure the service and investment barriers. >> government officials say they know their experiment carries risk. the japan's energy bill is soaring, and fears of whether japan can service its debt is there. salaries and hiring is not pin ceasing. the support for the prime minister -- is not increasing. the support for the prime minister is strong. what is less certain is whether the economy will continue to drop, a nationalistic agenda that is closer to its heart. for "nightly business report." >> japan's prime minister said that deregulation is the priority for the growth strategy and he is set to announce a new round of reforms later this week. tiyle tyler? >> a tasty earnings report, cracker barrel reported a 30% increase in profit and increased the dividends and the forecast for the year. investors ate up the results and pushed shares up 6.5% on the day. >> as samsung was unveiling

state owned enterprises because vietnam is going to be part -- is part of tpp, and my feeling is i -- i think it's good for them to be in. i think there's issues of work of rights, but there's also the issue -- it was a communist entity, and there are major vestages so expect someone like myself who's been so involved in trying to make sure that there are fair rules of trade for the u.s. as part of globalization that i would want to be sure that our companies had a fair crack at it in terms of tax policy. >> good, thank you very much. is there another question? we have time for one more. yeah, joe. >> [inaudible] >> can we get a mic? >> the company of 120 billion in revenues, they are in 213 countries in the world, so if you talk about taxation, we really know what you talk about, and the united states is about 20 # billion, and and we have to singlize the tax rates in all 213 countries. pay the -- >> the single highest tax rates -- >> right, of the 13 countries, to pay taxes here because we make money, and we, obviously, have a good time and are competitive. if i heard your side, yo

but at the same time, china is also the tpp, transpacific partnership, which china believes the united states wants to have kind of a trade talk, so china wanted to know what the real in tension is that the united states and the united states makes a clear point that institution welcomes china and the standard free trade agreement. host of the status of the tpp as you describe it. >> guest: they would be some discussion and the doors open. at the same time, chen also let some of the international organizations, both leaders have a lot of things to discuss and also a step to the particular chinese investment believed by the interest group or u.s. congress and the united states also, american companies except for china's market, particularly by the policy posted on enterprises. at the same time it's a very important reform program in the discussion by xi jinping's regime. it's a plan including liberalization also deregulation and a number of issues, which will have a strong implication for foreign companies. host a one of the things that come up in these discussions is about trade defici

therefore, we don't imagine a world with a tpp without you. >> what about specifically with the u.s.? like you said with a free trade agreement with chile for a decade already. what are you looking for to improve other peace talks between u.s. and chile mutually? >> well, we still have some progress to be made in terms of liberalizing our markets, free and fair trade. there are some areas where the us has some restrictions, particularly in the agricultural sector. so we would like to expand our trade with u.s. the a the trans-pacific partnership. but there are many other areas we want to with the u.s. for instance, in terms of education. we are sending more than 3000 chileans students to study masters or ph.d all over the world, more than one-third of them are coming to the u.s. and there are many of students going to chile. we have a lot to learn from you in terms of your leadership in the areas of energy, science, technology and, therefore, we're also working. right now one of the largest or the largest solar plant in latin america is being built in chile by megan company. at the sa

. >> host: and the host of the tpp? >> there will be discussion but at the same time china is the organization that both leaders have that. but also with the chinese investment with an interest group or from congress for the united states also american companies invest with china's market. they had our with the economic team it is a marketable plan and also deregulation with other issues that have a strong implication for other companies in particular american companies. >> what comes up is about trade deficit the united states has with china china, 315 billion highlighted in 22 -- 2002 and 2011 april this year is 93 billion so it is an amount. >> that's right. but china they argue this is the chinese position. >> host: our first caller is from north carolina on the republican line. >> caller: how're you doing this morning? thank you for taking my call. i want to ask the gentleman gentleman, we have a code dependent symbiotic relationship with china because we have put herself in the position the largest segment of our

but the specific trade agreements such as tpp, we're negotiating, obviously, with a number of allies,including japan and canada, who will both be at the table there. the eu and canada are discussing. we're in discussions separately on trade matters with the responsible eu counterparts. that is not something that leaders themselves -- the specifics of negotiation aren't something that leaders themselves, in the normal course of the sessions, would address. and we don't currently have any other meetings to deal with as scheduled. a couple questions on syria. first of all, since we've determined -- the united states has determined that there are these chemical weapons and they've been used, does the united states know where they are? and what steps would they take to destroy them? >> it's a good question, jim. we have been monitoring very closely the syrian chemical weapons stockpile. we've been doing that; so have a number of our allies. so while we can't say with certainty that we are aware of where every chemical weapons munitions is in the country, this is something we devote a lot o