the tpp would also require surgical methods to be patentable.or example, how a doctor operates on a patient. amy: that is what doctors without borders said. this is u.s. trade representative michael froman on the impact of the tpp on research and access to life-saving drugs. >> biologics, one of the most challenging issues and the negotiation. we have worked quite verbally -- with all of our tpp partners that both incentivizes the development of these new life-saving drugs while ensuring access to these binary medicines and their availability. and this is the first trade agreement in history to ensure a minimum period of protection for biologics and in doing so will help set original model -- reasonable model and create an apartment which through culpable treatment will be ineffective period of protection to encourage innovation and access. any guy is michael froman. lori wallach , your comment on both clips? >> now we've seen the text. the american public can look at it and doctors without borders is right. u.s. trade representative is trying t

led tpp, transpacific partnership. apec leaders say it could be a pathway to an asia pacific free trade zone. they reached a broad agreement last month, and 12 leaders from the tpp nations worked on realizing the pact on the sidelines of the apec81íc meeti. anothern; icc:curnation regiona comprehensive economic partnership that c includes chi. the details have not been set, but apec leaders are encouraging and early completion of negotiations. some experts view ongoing regional partnerships as a steppingstone to the creation of an asia pacific free trade area, but one says it'll be tough for leaders to agree. >> the challenge, of course, with multiple regional agreements is they overlap the, you know, my former boss, bank of japan governor, referred to the noodle bowl of asia of trade agreements in the asia pacific and executing overlapping regional trade agreements is a challenge. >> reporter: apec is increasing its presence in the world as many countries in southeast asia maintain high economic growth. the creation o

china has not taken part in the tpp negotiations. it's concerned that washington might use the trade deal to increase its leadership in the region, that's why china maintains that the tpp and ftop must be treated separately. meanwhile, firnls in -- officials in a number of regional economies have changing their minds about the tpp. the philippines and thailand became the latest who expressed an interest in joining the tpp folks. south korea has also announced its interest in joining the pact. china will the south china issue was not raised at the summit this was because the philippines has a tariff country put priority on productive discussed instead of having the talks get bagged down about the matter. as soon as president obama arrived, he took a tour of a frigate. it is seen as under scoring america's intention to take a stand against china's projects in the south china sea. the china president, xi jinping expressed his viewpoint in a speech. >> translato in beijing a chinese expert suggests that despite the rising rhetoric over t

but tariffs on goods made in vietnam will be scrapped once the tpp goes into effect. >> for tpp when they plan to investment further in vietnam, we knew they were negotiating the tpp. i think customers will be happy to move the production to vietnam. >> reporter: the company currently uses chinese textiles in garments it exports to the u.s. but under the tpp tariffs will remain in place on apparel made from textiles manufactured in nonmember countries such as china. so li has decided to source more textiles from malaysia, which has signed onto the free trade pact. he also plans to build a textile factory in vietnam so that he can contemplate the full range of operations from procurement through production and shipment within the tpp zone. his lab since labor costs in vietnam are less than half those in china, li thinks more will follow his example. >> it will change because more and more people will see business opportunities to set up textile mills, thread factories in tpp countries. and i think that that will continue to happen. >> reporter: officials in hong kong say the impact of

all 12 tpp members also belong to apec. japan and the united states are using the tpp model to push for a separate free trade area in the pacific rim. japan's economy, trade, and industry minister held bilateral meetings with those apec members which are not part of the tpp. hayashi underlined the significance of the deal saying it would accelerate trade and investment liberalization in the asia-pacific region. he called on more countries to participate. >> translator: we want to bring the tpp into effect as soon as possible. the philippines and thailand showed strong willingness to participate in the trade deal. participating nations will work together to move forward to implement the deal. >> i agree that in the past two months many development, economic development, has occurred, both in japan, in thailand, and the world at large. >> reporter: but china, which is not a tpp signatory, was keeping its distance. chinese ministers were absent from the discussions. sending officials in their place. indeed, the concluding stat

china has not taken part in the tpp negotiations. it's apparently concerned that washington might use the trade deal to increase its leadership in the region. that's why china maintains that the tpp and ftaap must be treated separately. meanwhile, officials in a number of regional economies are changing their minds about the tpp. during the apec summit, the philippines and thailand became the latest to express an interest in joining the tpp talks. south korea and indonesia have also conveyed their intention to take part. china is expected to use its investments in those countries as leverage in establishing itself as the region's economic leaders. it would do so in two ways through the proposed asian infrastructure investment bank scheduled to be launched next month and through the new silk road economic belt that aims to create a huge economic zone between asia and europe. meanwhile, the south china sea issue was not raised at the summit. this apparently was because the philippines as the chair country put priority on productive dis

the tpp agreement provides for a gradual reduction in tariffs in pork and beef imports. calling for legislation to cover losses under the current system the government uses a reserve fund to cover up to 80%. the proposal calls for raising the rate to 90%. the lawmakers hope the measures will be included in the government's tpp talks, the outline to be compiled as early as next week. two japanese companies are gearing up to take advantage of the expected lifting of tariffs. casual clothing chain and textile chemical maker say they are going to expand production in vietnam. they have a close business relationship. they have been working together on developing a manufacturing product made of fabric that retain heat. now with the tpp they are realigning operations in a bid to improve global competitiveness. officials explain that products exported from vietnam to the u.s. and australia are expected to be abolished. they outlined their plan to buy prices from toray and sell them at lower retail prices in the u.s. and australia. >>> let's check in on markets. tokyo share price

. >>> the japanese government has adopted new guidelines on the tpp. it aims to aid the impact on domestic farmers. there was a broad agreement on the tpp last month. >> translator: we will take advantage of what the tpp offers, with public understand ing and support, we will make the japanese economy stronger. >> the guidelines decided on wednesday set a numerical target for food-related exports, including agriculture and fisheries. the deadline for the target has been brought forward from the original date of 2020. the government plans to support farmers who demonstrate outstanding management skills. it will also i am implement regulatory and tax system reforms. the government will buy domestic rice for stockpiling as a measure to protect agriculture. the amount of rice to be bought will be equivalent to extra imports from the u.s. and australia. measures are also included to help cattle farmers if they suffer losses. 90% of lost income will be covered up from the current 80%. the government also wants central and local authorities to coopera

tpp, i think, is a very big mistake. the other -- amy: it means corporations control trade, as opposed to democratic societies and their governments? >> exactly, and particularly as we move away from lowering tariffs, which is what the old trade deals -- these are about regulations. and yes, regulations maybe have -- so many regulations have to be harmonized, they have to be changed. but you can't leave that up to corporations. and with a changing world, you can't lock in the current regulatory structure, which is what tpp attempts to do. so -- amy: for people who don't understand tpp, explain who makes the decisions around these global trade rules. this will control what? 40% of the global economy? >> yeah. and the irony is that the president came out and said, "this is about who makes the trade rules -- china or the united states?" but i think the big issue is, this is about who makes the rules of trade -- the american people, our democratic process, or the corporations? and who they're made for, which is, for the corp

i'd go back on tpp and say the chinese fear tpp because it brings us together with the trading partners of the asia-pacific region and the one thing china respects is economic strength. what the arrangement does with 40% of the world's gdp is bolsters our ability with renewed standards, lowering barriers to trade and invest more with a lot of the countries they'd like to be doing it with. liz: you would have made a great president. we skied together, our families. >> short-term, look at the market. liz: dow down 37 points, but it's great to have you. governor jon huntsman, former ambassador to china. pleasure to have you, please come back. and much more on the 2016 race tomorrow, "mornings with maria," donald trump will be maria's guest. 7:00 a.m. eastern. do not miss it. maybe she'll push him more on tpp and other. it's not over yet. we got a year before this election. we're coming right back. don't go away. you both have a perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would t

and the whole point of tpp is to be a counterweight to china.ook, trump clearly didn't know what he was talking about during that debate. you listen to donald trump he knows everything about every subject and anybody who disagrees doesn't know he knows. the fact is -- liz: richard, stay with me, hang on. how do you know mr. kerry never said anything to that effect? . >> it's ludicrous, something negotiated for years and years and years. liz: we won't know either way. >> but we do know. they don't just bring parties in at the last-minute. we know that. liz: we don't know what was said behind the scenes. richard, stay with me on this one, could china back door it by investing in plants in vietnam? that would be a small way to get in, right, richard? . >> look, i think the chinese will be as creative as they can possibly be. the point of tpp is to be a counterweight to china rather than having let them set the rules of the road for trade in asia, we're going to be doing that. that's a better outcome. >> gina, go ahead. >> when kerry said we're invi

this is not the end of tpp.f markets will grow. >> i think it is one of the longer term themes. we are just starting to get more details about the terms and conditions. i think it will be premature to price that into the asset market . i do agree that this is a positive long-term development. >> i want to touch on the china data that came out over the weekend. what does that tell you on how effective the measures have been in trying to stop the hard landing? reality, the rate cuts from the pboc have not been that effective. i think it is not just cutting rates on reserve requirements. it is also about how the sector can perform effectively, moving the capital around the markets. , 28 to be ipo's listed by the end of this year. are we going to run into liquidity problems again? >> what does it tell you about what the authorities are thinking? >> it is a comfortable stock market. in terms of liquidity, there will be more fine-tuning. as we have seen in recent weeks. i feel it is much more comfortable about the sto

>> the tpp is a horrible deal, a deal that is going to lead to nothing but trouble. it's a deal that was designed for china to come in, as they

because i know that china's not a part of the tpp. i also know they will be a part eventually because they're going to come in through the back door. i said it perfectly in the debate. we put "the wall street journal" on notice. brett, i think "the wall street journal" will apologize. in the debate you said wages are too high. what do you say to somebody in south carolina where the median per capita income is only about $24,000. and wages are stagnant and costs are going up. >> brett, we were talking about the minimum wage. >> yeah. >> and i said should we increase the minimum wage. i'm saying that if we're going to compete with other countries, we can't do that. because the wages would be too high. you go to other countries, where things are much less expensive. including taxes, i also mentioned taxes on that. i was referring to the minimum wage. people want to increase the minimum wage. and the democrats want to do it because it's good politically. and i think it is good politically. it's hard for me to say this, because politically

anna: is very cold to get china into the tpp -- is there a goal to get china into the tpp?think china and indonesia and other countries expressed interest. there are a lot of countries expressing interest. that inom line is, order for these countries to be a part of tpp, they will have to meet the comprehensive high standards that have been set in the negotiations. after all, the united states has work to do. we have to see that it gets through the u.s. congress. it is going to be difficult in an election year. there are -- there are other countries that are already part of the club that have work to do in their own domestic forum. we want to see china down the road be a part of the nations that have high standards and open up this orchid. tpp to see china take the as a serious platform. i think we are talking about the road ahead sometime. there is funny of time to debate the merits of china's entry into the tpp. i think the more decisive short-term wrapper china would be to have them make progress in their bilateral negotiations with the united states on an investment tre

a recent poll says that 41% of the population hasn't heard about tpp. and it's one of those things that goes over your head. it's a giant free trade deal. it ties together countries that make up 40% of the world's economy. it's going to end up and dismantle 18,000 tariffs and duties on u.s. exports, allowing the u.s. to export more of its goods, and it has gotten 20 nations involved, including japan, and all of them are going to see the duties excluded so it becomes a trade mosh pit. the thing about it, it excludes china. and some lawmakers have seen it in classified meetings, but the general public didn't get the chance to see it until today. it's very hush-hush. 30 chapters, with plenty of side deals, and plenty of controversial material in there for democrats and republicans. but unlike a lot of releases, randall, this one didn't crash too many websites because people were trying to get at it. >> this reminds me of an earlier free trade deal, nafta, people windo were worried that s going to take jobs, and what's likely to happen with tpp? >> if you a

a group of people took an expensive ad, about 6 months ago, i know that china is not a part of tpp. i say, they are smarter than our representatives, they are going to come in through the backdoor, and get the best of tpp. lou: joining us, town hall.com, guy benson, political editor. and ebony williams, fox news contributors and more than welcome here. let me start with you, guy. this with trump and the "wall street journal" and issue of free trade. there is no surprise that the journal would be upset with mr. trump for criticizing a quote, unquote free trade treaty. >> no. they have differences of opinion. and different views who was conservatism looks like on trade, immigration and a number of things, they will call trump out on things he will push back, that is what he does. lou: and clinton, e-mail probe is expanding, ebony. this is the last thing she really needed? >> absolutely. the believability and authenticity of hillary clinton, polls are so low. jim has been deliberate, saying this is in the little bit -- not political for him, he is doing his job. i am not surprised to s

that's what tpp is a part of. >> that makes a lot of sense. it'll get done.what are the the numbers? i mean, you got enough republicans. you got enough democrats to do this? >> well, you know, we just passed trade promotion authority this year, and that's poured in the necessary support about the house and the senate, bipartisan support in both, and that's a good foundation on which to start, but we're going to be continuing to talk to republicans, democrats in both chambers, explain the agreement, address conditions and concerns and confident for the economic regions and strategic reasons that necessary support will be there. >> all right. thank you, mr. ambassador. >> thank you for having me. >> toys are staging a comeback this year. maybe people can keep making toys. the latest holiday toy forecast -- >> oh, misfit toys, remember this song? >> oh, yeah. hopefully no layoffs in the north pole this year. a look at the hot toys this year. "squawk box" will be right back. >>> still to come, breaking news on the jobs front. and then, a look at america's most ex

the tpp can come into effect at an early date. but not only trade is being discussed here. president obama has raised tensions about the tensions over the south china sea. >> my visit here under scores our shared commitment to the waters of this region and to the freedom of navigation. >> reporter: obama also met separately with the host of the meeting. philippine president benito aqilla in manila. obama stressed that maintaining order based on rules is indispensable for the security and economic development of the region. he added that china must cease land reclamation in the south china sea. a position that was bked up by the philippine leader. >> the freedom of navigation and oversight of the south china sea must be consistent with international law. >> reporter: meanwhile, the chinese president is avoiding the issue at the talks. he said the summit should focus on the economic issues. china is not a member of tpp. >> translator: we should never allow anything to disrupt the development of the asia-pacific region. differences should be resolved through dialogue. >> repor

tpp does not change that. it changes our access to them.dent and the next president has to have a greater theory. the idea about working in a post-american world and where is that post-american world right now? it is inr haass: disarray. this world is as messy as it gets, particularly in the middle east, but we are seeing large elements in europe. latin america is drifting. asian is the biggest question. stable for the time being. but you have made moving pieces. the question is -- can we corral others and work with others to come up with a shared definition of what is ordered? -- order? tom: there is a part of the party that wants to -- ambassador haass: parts of both parties that want to turn inward. you have to cost limit the case of why the world matters. this is not something we simply do for others as an active philanthropy. this is something we do for ourselves or the united states cannot prosper literally and figuratively as a giant gated community. we have got to make the case of why the world matters and why we need an engaged for

tpp is really about the relationship among the 12 countries.ed bag of trading activity at the moment across the asia-pacific. yvonne: a comeback coming in the regional index. i want to talk about malaysia inflation. 2.5% for the month of october, that is in line with estimates. slowest pace in four months. the ringgit surging 1.4%. we are counting down to the reopen in hong kong and china. change your alibaba strategy or face a proxy fight. star board asked yahoo! not to spin off its stake in alibaba. they are asking yahoo! to sell its search and display advertising businesses. the enterprise value is $31.2 billion but excluding alibaba and partial ownership, the core business is actually worth $2 million. joining us to discuss, my guess to has been covering the story. star board is saying that yahoo!, the core of yahoo! is worth $2 billion. how realistic is a proxy fight now? >> the $2 billion valuation sounds low considering these assets they have. revenue for billion dollars a year. some people say zero. depending on what happens with the sp

come outnald trump has very, very vocally against tpp.s "this deal is so bad because they do not cover currency manipulation. it is the number one weapon used by foreign countries to hurt the united states and take away a jobs." bill, how do you and other defense secretaries portray this as being in our security interests? a area: this applies to -- for the united states to say we will start exporting more into your countries because you of had all of these barriers, we will see these barriers come down over time, not immediately. we had the same issues with wto. this is comparable to that. i know the democrats may be aligned against this. perhaps donald trump will continue to be opposed to it, but traditionally republicans have been in favor of freer trade. betty: jeb bush, marco rubio have supported this. have very few democrats, but you need the republicans, and the republicans are not eager to give the president any kind of a victory, unfortunately. here is one case where we should l if possible.ica drop the labels. see if this is in

this framework would include china, which is not a member of tpp. >> translator: we should never allow anything to disrupt the development of the asia-pacific region. differences should be resolved through dialogue. >> reporter: apec is a platform to discuss regional growth and trade, but territorial disputes in the region will likely creep into their talks. kunihiro yamamoto, nhk world, manila. >>> members of a u.s. congressional panel are taking a dim view of the security situation between washington and beijing. they say china's activities in the south china sea and its it points out that bay jung wants to project power and possibly create an air defense identification zone. the report refers to the improved missile capability and space program and says beijing is harming the u.s. economy by supporting theft of trade secrets and personal data. it urges congress to consider counter measures. >>> japanese officials released key data. joins us now from the business desk. what can you tell us about the latest figures? >> they are back in the black after the trade balance posted losses f

full disclosure, i haven't read the tpp. neither have you. it is enormously long. is a long and complicated deal. most people have to read their way through the small print. betty: they did try to summarize parts of it for the american public. but i agree. do you think it is going to get through congress? >> i would like to bet a significant sum of money on that. however, the small print reads, it is going to be relatively easy for the president's opponents in congress to find things to object to. i can think of two presidents who have been less able to get congress to do their well. i am rather pessimistic on how this is going to fare in congress. anybody, i am talking champagne in anticipation of tpp, it is missing a crucial point. inganybody who is uncork champagne in anticipation of tpp, it is missing a crucial point. it still has a huge hurdle to get across in washington, d.c.. >> good to have you on the program. after yesterday's vote, how long will it take to get a new government in place? a lot of power is now in the president's hands. >> that is right. the

tpp is a mixture of good and bad, but i still think it's worth it> and say good-bye to the mild november air. coldest air this season coming into the midwest. will it be sticking around? i'll have my forecast coming up." now for the news that moved the markets this week... weakness in commodity and energy prices continue to weigh on the ag sector. the november rural mainstreet index is out...from ernie goss at creighton university. he says the index fell below growth neutral for a third straight month. the farmland and ranchland index rose a bit in november but remains in negative territory. the same is true for farm machinery...while hiring in to hire workers but at a much slower pace, but he's more bullish heading into next year. on the b