he's actually supporter of tpp. but, he is pointing out the concern that if americans are feeling like other countries and to be frank, china is number one on the list, are not upholding their obligations and living by the same set of rules and taking advantage of access to our markets, it's makes them angry and has political implications and i think that's why it's sotical im important and why from president obama on down strategic and acknowledged dialoguealogue and commission on commerce and trade, g20, all their interaction with china and chinese leaders have been to encourage them to take greater responsibility for the global trading system, to be a responsible purchase of it in that system, to uphold the rules and to make sure that there continues to be support for openness. otherwise, i think you will see and you arerwise seen a counter reaction. host: right back here. thank you. >> thank you.ity to heritage foundation. investors from the previous panel spoke at length for the beat-- need for the business com

industry as a supporter of tpp. he is pointing out the concern that if americans are feeling like other countries and to be frank china's number one on the list are not upholding their obligations, taking advantage of access to our markets it makes them very angry and it has political implications. i think that's why it's so important and why from president obama on down the economic dialogue and the joint commission on trade all of our interactions with china and china's leaders have been to encourage that, to take greater responsibility for the global trading system meant to be a responsible participant in the system, uphold the rules and to make sure that there continues to be support for openness. otherwise i think you will see and you are seeing a counter-reaction. >> yes, right back here. >> thank you. tory from the heritage foundation. dr. supplement previous panel spoke at great length that they'd need of the business community to speak out against the renegotiation given their extensive interest in what hap

even without the tpp, vietnam will continue to move forward because in addition to the tpp, place, and, including the rcep, so this will help to continue to propel our economy forward. haslinda: to be clear, tpp is forrtant for vietnam, a way the country to be more independent from china, currently it's biggest trading partner, more than $70 billion and bilateral trade last year. rishaad: what about these canes claims that china and vietnam have over islands in the south china sea? some development. it does look like both countries want to divert tensions. both issued statement suggesting toy were what take action maintain stability in the south china sea and avoid to take action that would complicate the situation. this is quite evident after the visit and talks of the the admin , is cheap with the chinese over the weekend. the two have a complex relationship, clashing several times, including the war in 1979. rishaad: thank you very much indeed for that. right, still ahead, i look at asia's burgeoning demand for smart homes, predictions the global market could hit $400 billion by 203

now everyone knows tpp was dead, it was not in existence so withdrawing from tpp did not create a single new job. in change, it did not change anything in the world of trade and all of these companies that took advantage of us. how many new jobs did the president create yesterday? by saying we will not do tpp? none. zilch. if president trump is serious about bringing jobs back to the us he could immediately on his own, without congressional action label china a currency manipulator. if he is serious about bringing jobs he would support by america provisions.and he would back our new trillion dollar infrastructure bill which we announced earlier today. and, he would convince republicans to join him on those issues. they have opposed them in the past. china does whatever is best for china. even when it hurts american jobs and workers. we have seen that. and you can be sure, they will keep manipulating their currency until we take strong action.it may go up for a few months if that is in their interest. they will keep manipulating it. and that is wrong. so mr. president, if you want to put

tpp a lwa ys must do something this week.other year before full ratification so new zealand will be taking stock and entering conversations with tpp countries and also advocating the benefits of trade liberalisation and looking to do deals with asia and other parts of the world to deliver to new zealand's economy and are therefore world traders. any idea of a percentage of the economy affect if this had gone ahead with the 11 other countries? tpp was very valuable to a country like new zealand. we've already got fairly low tariff rates. now we're going to look at the value without these. in the meantime we have $11 billion of 2—way trade with the us. nothing i've seen suggests that changes and we find high quality goods and services from new zealand are sought after in the us, as many american products, about the same value, arsene in new zealand. certainly without the us involved tpp doesn't have the same value it did but my instinct tells me it is still worthwhile and valuable and in the meantime our trade with america rema

does the removal of tpp change that analysis? >> denounces looks quite similar for tpp and rcep.nt member nations, but a muchrrors that to lower magnitude, particularly for vietnam. they werehowed that getting a 15% boost to gdp, very impressive. them,ll exists rcep for because they're an up-and-coming story. they are going to still see the benefit, just not the same degree. there is not the same push for domestic reform. rishaad: so you are downgrading your forecast for vietnam looking ahead? or not going to tell me anyway. what it does do is suggest a degree of isolationism and protectionism that people are worried about. >> yes, exactly, the key concern. it is not just for tpp but policies in the coming weeks, particularly because trade is the main focus for now, whether with china, with tariffs, the border adjustment tax. all this matters for export comedies -- economies in asia. you have to think of the second-round impact, which affects china's trading partners. it is much broader than it seems. rishaad: an interconnected world. thank you very much. coming up, why fast food

there's a lot of businesses pro-tpp.ald trump is clear i'm going to stop this, stop that but what does he want to do? upon meeting with the ten ceos he said i'd like to give you 30 days, come back to me to give me a list of what you can do to help plans. they walked out of the building, mark fields great day for the american economy, business and worker. within an hour he says tpp you're over and done with. what exactly does donald trump want to do, who does he listen to? he doesn't have his treasury secretary in place and making moves likee and never during the campaign provided an alternative to it. it is in line with what bernie sands was planning and hillary clinton. this was not a big reveal but the then what was not answered during the campaign and we got very little of that today. let me bring back mark murray, is mark still there? >> yes. >> let's go through the two other executive orders. american worker ordering freeze except the military. >> there should be no more civil servants in the federal government, the

even without the tpp, vietnam will continue to move forward, because in addition to the tpp, others aree and under negotiation, so th wl help our economy continue to be propelled forward. know, tpp is important as a way for vietnam and other countries to push through reforms which can't be done internally given domestic structural constraints. vietnam has entangled with china over claims in the south china sea, so what are the developments ahead of donald trump's inauguration on this? haslinda: we had a statement from both countries over the weekend, they have pledged stability and the south china sea and want to avoid any action that will complicate, escalate, the tensions there. the at nouns communist party chief met with the chinese president as they agree to seek long-term solutions. they will discuss transitional solutions that will not affect each other's position on the issue. avoids you know trying to tensions, which reached a peak in 2014 when china placed an oil rig within a stone claimed by vietnam. -- within a zone claimed by vietnam. >> thank you appeared much more ahead. w

china is not a member of tpp. they are not a member of tpp. the idea was if you could get china's neighbors to sign up to better labor, opening up their markets, putting disciplines on state owned companies that china would have to compete against that. they would have to raise their standards as well. >> when you look at the politics of this, you look at state like iowa that went for trump 15 points. out of many of these concerns about tpp, agriculture this iowa would hugely benefit from tpp because countries like japan and vietnam would be great markets for american agriculture. why is it that the people voting against what seems to be their own economic interest? >> there is a disconnect there. as you said the entire agricultural community is in favor of tpp. it has about more than 4 billion dollar to farm incomes. it opens some of these markets that have been closed for years like japan or vietnam and malaysia that have an emerging middle class. the first thing a middle class want s more protein, safer food. there is a disconnect out there

from the tpp.e had the president and the treasury secretary nominee talking down the dollar, but i understand it is not all about these comments moving the dollar. yousef: again, you had steven mnuchin talking about an excessively strong dollar having a short-term economic impact, but that is not what you should be looking at. there is a different and more accurate perspective, what is happening with 10 year treasury yields in the u.s. this chart.at that is your 10 year yield and the bloomberg dollar spot index. see, i've highlighted this for you. take a look at how close these to move. yields are leading the dollar, so extending the slide after steven mnuchin's comments, then clawed back those losses. thing we do have to keep in mind when looking at treasury yields, after they fell from last week's peak, you need to breach the key technical level, the 50 day moving average. take a look at my chart on the bloomberg. you can see we are still hanging but there has not been a breach of that level. tha

charlie: would tpp have influenced that? michael: china was not part of tpp.ie: i know, but would it have given muscle, have done anything to be leverage against what china was doing? michael: by raising standards in the region, by saying if you want to be part of the modern trading system you have to have strong labor and environmental protections, you have to have disciplines on your government-owned corporations so they act fairly, keep an open and free internet, i think it would have forced china to by raising their standards as well. if all the neighbors are offering higher standards, it will have a positive effect on china as well. charlie: do you think those nations in asia look at america and want to pull back and entrench? michael: you have heard comments from prime minister abe, prime and mr. lee, new zealand's prime minister about how withdrawal from tbp damages the credibility of the united states, undermines its leadership, and causes them to feel the need to line up behind china accordingly. senator john mccain and all these leaders in the region

senior ministers will urge china and other asian nations to sign up to the tpp.alling it the 12 -i agreement. it is possible that us policy could change over time on this, as it has done on other trade deals. there's also the opportunity for the tpp to proceed without the united states and i've this is going to be an active discussions with other leaders as recently as last night with prime minister abe about this. we believe president trump is aware of the importance of free and fair trade. we continue to calmly seek is understanding for the trans—pacific partnership's strategic meaning —— his. the original for countries that came together to consider tpp did so without american involvement. i guess the question must be for all tpp countries, if america had never asked to be involved in the negotiations, would we have still wa nted negotiations, would we have still wanted to negotiate with each other? the answer to that is probably yes but we'll have to get together in the next month or two and at ministerial level have a conversation to see what steps there may

i've been told they could pursue a tpp minus the united states with other tpp partners, such as australia much diminished agreement and it would be to go through all the national parliaments against p it's more likelyjapan and other asia—pacific countries will 110w other asia—pacific countries will now pursue bilateral trade deals, with the united states and other nations around the pacific rim. critics are saying the united states pulling out of the tpp is a serious mistake and could lead to china further increasing its clout in the asia—pacific region? further increasing its clout in the asia-pacific region? yeah, there's concern on all fronts, notjust tpp, rico, but the renegotiation of nafta, that would have a huge impact onjapan and the government is very concerned about that. there's talk of china stepping in with this thing called rcep, i'm not sure what it stands for but it's an asian regional economic cooperation group led by china. i talk to senior japanese government officials about it and they say it's nothing like tpp, not of the quality of tpp, china might want to do it butj

president elected donald trump has made it clear he wants to kill the tpp.even though you are optimistic it could come up and another form, should that happen do you see nations in ,sia gravitating towards rcep letting it have a greater momentum to fruition? >> the member countries are engaging in negotiations, and be sure that rcep will promoted, but the newly appointed members of the, many of them, are in favor of the tpp, so i think they might reconsider their decision. is thatike to stress even without the tpp, vietnam will continue to move forward, because in addition to the tpp, 12 free-trade agreements, three under negotiation, including the rcep, so i think this will help our economies to continue be propelled forward. is in this year did by china. there is a sense that china's influence and power will increase. is there reason to be concerned about that? >> while we participated also in other chinese led programs like the aiib or the maritime silk road, the rcep is also a china-led initiative, but as long as it benefits all members, countries, then

on the campaign trail it was clear that, it tpp was in jeopa. deal was china at that time. >> it wasn't just tpp in a vacuum. it was meeting with the business leaders and the representation that things are different when it comes to trade and attitude toward companies. >> on day one, week one, the trade relationship with the rest of the world and the american worker at the center. detroit coming to washington. ceos of general motors and ford and fiat chrysler meeting at the white house. several were not invited. mark fields at the white house yesterday. he left yesterday feeling good about the future. >> walking out of the meeting today. i know i come out with a lot of confidence that the president is very, very serious on making sure that the united states economy will be strong and policies and tax regulatory or trade to drive that. i think that encourages all of us as ceos as we make decisions. it was positive meeting. >> that was a meeting. you had elon musk there. the ceo of lockheed martin. the ceos of the automakers in a tricky spot. the

do we need tpp?in a relaxed and oral trade deals that can be hugely beneficial —— unilateral. that's look at how long they take. the idea that trump will get a trade deal with the uk within weeks isn't feasible, they can take yea rs. weeks isn't feasible, they can take years. 0bama negotiated tpp for seven years, conversations started in the mid— 2000s so these things ta ke in the mid— 2000s so these things take time. it would be fantastic to have trade deals with australia or japan but it won't come back soon and in the meantime we will miss out on the economic boom. presumably the leadership in china are upping their hands, they weren't a part of this particular trade deal and they're starting their own version with these countries —— rubbing. what does that mean for the winners and the losers? the real loser maybe the us. with tpp, the us was luke dyer macro hooking to create a single market within asia and exclude china —— was looking to. if donald trump is really interested in keeping manufactur

charlie: would tpp have influenced that? >> china was not part of tpp.harlie: would it have done anything to have been able to be leverage against what china was doing? >> by raising standards in the region, by saying that if you want to be part of a modern trading system you are going to have strong labor and environmental protections, you have to place discipline on corporations so they act fairly, you've got to respect intellectual property rights, you have to keep an open and free internet. it would force china to compete by raising the standards as well. if all their neighbors are offering higher standards it will have a positive effect on china as well. charlie: do you think those nations look at the united states instead of retrenching from its commitments and perceptive -- participation? >> i think you do and you have heard comments from prime or lee,abe about how withdrawal creates this vacuum that china will fill and they will feel the need to line up behind china accordingly. senator john mccain had all these leaders in the region and they all

tpp is gone. would that help them? >> yes. so, china is actually trying to push their own version of tpp in the asia-pacific region, right, which is called rsf. they've been negotiating this for many years, too. and it looks like they're now going to be closer to getting that done now that tpp is dead in the water. china certainly has been saying that they want to have more open borders, more free trade. this was coming out of the speech at davos where he he identified that the problems with the current economic order is problematic, just like trump identified the same problems of inequality and of it not benefiting everyone. but china's answer is, we need to just take down more barriers across borders, not try to erect protectionist barriers and keeping things in-house. china is trying to move their manufacturing to other countries like africa and other places, whereas we're trying to bring everything back. >> which, you know, if you're sitting and watching in america, this whole america first really resonates with a lot of p

he signed executive order killing the tpp. he ordered a freeze on hiring federal workers, but that did not apply to military. he warned business leaders of a border tax if they shift operations overseas. >> a company that wants to fire all employees in the united states and build a factory across the seas and then bring back the product in the united states, they will have to pay a bore to border tax. >> reporter: meanwhile, white house press secretary sean spicer got some of his facts wrong on saturday. spicer said it is not his intent to lie to the press, but the media coverage of the inauguration was too negative. here is what he had to say. >> i have been doing this a long time. you have been doing this too. i have never seen it like this. it is demoralizing. you are sitting there and you are in awe of how awesome that view is and how many people are there. you go back and see shots on television and see this and that. it is frustrating for not just him, but us working to get the message out. >> reporter: spicer shifted in

president trump's views on the tpp have been known but it is disappointing.avour of trade liberalisation, our economy showing the benefits of business to citizens with their rules and getting on their blockages out of the ways over their blockages out of the ways over the next week or two, i will be talking to a number of my cou nterpa rts talking to a number of my counterparts in the other tpp countries about other steps forward and we are seeing from australia and other countries and desire to have a conversation on whether there is still value in the tpp agreement without the us. that is yet to be determined but it is a wealth while conversation. i was going to say, that seems to be the suggestion among many experts but it would be a very much decreased type of deal, wouldn't it? that's right. it would not be as valuable without the world's largest economy in bold. new zealand already has a fairly good trading profile, which is quite well—balanced, with the us. we still expect we will have access and to be able to sell our products into the us markets. us

coming up, tpp gets the ax.hy trump is dropping america's bilateral trade deal and what it means for tech companies. yahoo's fourth quarter revelations, and the verizon deal is still in play. the sleepless side of the uber side hustle. it is proving costly for some workers. first to our lead, president trump begins his first week in office and is taking swift action on trade. he signed executive order putting the u.s. out of the transpacific partnership. a 12 country deal that sought to liberalize trade between the u.s. and the pacific rim, including japan and singapore. trump's secretary outlined the reasons. >> i think this president pulling out of the agreement is not just about this agreement. it is symbolic, both here in america and around the world, of a new era of trade policy, one that will put american workers first and foremost, and assures the rest of the world but the way we negotiate bilateral agreements will make sure we get something out of these deals. the rest of the world but the caroline: stev

he comments on exiting tpp. donald trump's signing an executive action to withdraw from the tpp.yhe 10 year down in terms of yield. davis and to tina richard jones. again, donald trump has signed -- ♪ vonnie: that is donald trump signing an executive order, it from tpp.thdraw an order for a federal high freeze except war military. he is among the executive taking, he calls it a great thing for the american worker. bring back michael who is our international policy correspondent. mean?oes this we are no longer heart of the process area that had not been ratified. michael: it wasn't going to be. it's low hanging fruit. we have not heard of he is nafta, which would be somewhat meaningful. withdrawing from tpp to lower nontariff barriers, that wasn't going to get approved in the u.s.. matter alloesn't that much. is donald trump going to do something else? will he ring those countries a fairer or freer or both trading arrangement with the states the federal hiring president signs that. government is always the enemy to the incoming president. we will see how long that last. donald tru

that is what we did in tpp. mexico and canada were both part of tpp. through tpp we renegotiated nafta. >> rose: what about american labor? how do they feel about trade agreements? >> they have rarely supported them. we had the united autoworkers support the agreement with korea a few years ago but i think other than that i'm not aware of another trade agreement that they supported. >> rose: thank you for coming. great to see you. >> thanks for having me. >> rose: you will be in camp with the council of foreign relations. >> i will be. looking forward to it. >> rose: michael froman, trade representative during the obama years. back in a moment. stay with us. >> richard haass is here, the president of the council on foreign relations and a veteran observer of u.s. foreign policy as well as a participant in u.s. foreign policy. he has written over a dozen books. his latest calls on president trump to fix a world that seems to be spending out of control. it it is called a world in disarray, american foreign policy and the crisis of the old order. i am ple

the 12 nation tpp, which does not include china, was seen as tpp, which does not include china, was seencurb on tpp, which does not include china, was seen as a curb on chinese influence in the region. america's withdrawal may therefore have the effect of distancing the us from its asian allies but mr trump believes the future lies in one—on—one trade deals with individual countries as a means of achieving turns more favourable to the us. the white house press secretary sean spicer. this executive action ushers in a new iraq of us trade policy in which the trump administration will pursue bilateral trade opportunities with allies around the globe. this is a strong signal the trump administration wants full and free trade throughout the world. president trump also wants to read ago she ate the north american free trade agreement between the us, mexico and canada and has talks lined up with the canadian and mexican leaders in the next few weeks —— renegotiate. economists believe morejobs are being lost to automation than to unfavourable trade agreements. at a gathering of business leaders,

including -- to pull out of the tpp. president trump does have the authority to pull out. the broader goal here i am told, is to use this as levering to she he is serious about -- mexico and canada in the coming weeks. that's when he going to try to start to negotiate better terms of the deal. there's that first press briefing with white house press secretary sean spicer after he came out with fireworks over the weekend i cousing the prep from misrepresenting president trump. today he was consillory, etalk abouted facted he was dedicated to make sure he is truthful when he steps into front of the podium. he touched on issue of trade and obamacare. i asked if president is plcloseo repeal and replace obamacare. >> busy couple of days. i know no one has mentioned it, any word coming out of the white house to name someone to the supreme court. >> there's that vacancy and no exact date. he is nearing a date -- >> at briefing today sean spicer addressed cia this weekend. >> he walked into cia people were hooting and hollering to give a five minute standing ovation. they were wer

we're 100% behind tpp.s recently negotiated agreement will unlock portrayed opportunities with these other fast growing tpp countries. tpp represents more than 480 million potential customers for u.s. businesses. the agreement would eliminate 18,000 tariffs on u.s. made products, thus increasing global demand for america -- american made goods. it will spur greater investment in the united states, which correlates directly to new jobs here. our strong recommendation to the incoming trump administration is not to abandon tpp, but to improve it towards full free trade which president-elect trump supports, with these countries. there was also a great deal of negative talk about nafta during the election campaign, but, in fact, nafta is the linchpin of our current economic competitiveness. here is what nafta does, it eases trade among 450 million people in the united states and our trading partners, canada and mexico. nafta trade more than quadrupled in 20 years which boosted the economies of all three countrie

terminatedofficially tpp. [applause] reporter: you can here the clapping as donald trump is trying -- is surrounded by his advisors. it also hear him negotiating individual bilateral deals with those tpp partners. he said that if somebody misbehaves, how they will be out on the radar for him and will intentionally be straightened out or they will be gone. mixed onion has been the republican side as well as the democrat side. on the democrat side, they are siding with mr. trump. charles schumer said that the tpp was dead long before president trump took office. in the initial vote for the tpp, he did vote against it. almost twice as many democrats voted against it as republicans. but john mccain is sending some fire over to donald trump saying that abandoning the tpp is the wrong move, especially when he is advocating for more american strength in the asian pacific. he is saying that this could definitely lead to an opening for china. there is a lot of talk among the media saying at there was a horse race betwe

the tpp withdrawal, one of the big headlines. actions, mr. trump also signed an order on a federal hiring freeze except for the military. and on one banning u.s. nongovernmental organizations which receive federal funding for providing abortions are broad. let's talk about this. so, charlie, one stands out is the tpp, this was a huge campaign issue. one that -- i am not going to say if i am for it, i can state, all over the road. he stayed pretty clear. >> charles: he used that issue to steal a lot of democratic voters rights under their noses. and republicans never saw it coming. it is exactly how he managed to pick off places like pennsylvania, wisconsin, and places -- michigan. places that republicans had given up for years. but he tapped into that great frustration about jobs in the country. >> harris: just explained to the audience with the jobs as journalists. do you get a tape playback, on that playback you can sometimes hear the president talking. just on tpp, he said, i have been talking about this, kennedy, for a long time. this is

okay, there's not going to be tpp right now.o now talk about nafta, it's been in place for two decades. bill clinton pushed it through back in '93. donald trump talking about potentially renegotiating that. at would that mean, could he meaningfully change nafta through a renegotiation? >> again, somewhat unclear, and he can't renegotiate it on his own. but it is a 20-year-old agreement. maybe there is room for renegotiation. but one of the conflicts here, especially for these business leaders with, they're not out to get america, but they do run global businesses. if you're a guy selling shirts and shoes like underarmor, you also want to sell them to an important market like china. they're not necessarily not manufacturing in the u.s. because they want to hurt the u.s. it's about wages. and they're getting it done where they can get it done. donald trump wants to change the rules and make it better for everyone, the question is, where does the money come from, steve? and for donald trump to say in the meeting which he did, you k

from the tpp . he left the north american free trade agreement with mexico and canada in tact for now but action on that is still in the works. he also vowed that "there will be major border tax on companies that move jobs outside of the u.s.." treasury secretary nominee steven mnuchin says an excessively strong dollar could haven't had -- a negative short-term effect on the economy. slumped.r the senate foreign relations of rex tillerson's nomination as secretary of state clearing the way for the full senate to confirm one of donald trump's most critical cabinet choices. the u.k.'s brexit plan will become clearer today when the supreme court rules on whether the process can start without parliament approval. if the decision goes against the move, the government plans to russian legislation to article 50 by the end of march. the ruling will be announced at 9:30 a.m. today in london. and of course and that is out there for the latest on that. global news 24 hours a day powered by our 2600 journalists

tpp. i think it's really important now is an historic event that should not go unnoticed. maria: absolutely. let me stay here and put tax reform to the site for second because he sent three executive orders including scrapping the u.s. involvement in tpp. i watched you standing there watching him sign it. this was also partly a success for you because you worked so hard on this work and looking at doing better trade deals. what do you want these trade deals to look like? when you actually say we want to do bilateral deals, how will trade change in look different in the coming year or two when we are not looking at a deals with life of several different countries. the next that the big thing from an economic standpoint and workers in this country is to think about it this way. the big boxes that have logos like ford, gm and ge ahmed. in this country, people associate with manufacturing jobs have basically turned primarily into assembly plants that put together components from foreign countr

. >> were you in favor of tpp? >> i favored the idea of tpp but did not support the obama administration. two, three things they did that were terrible agreements that were not worth supporting. >> with us pulling out does that the create a void that china is going to move in? >> i have a concern, we say no tpp, we're done, ignoring the region, yes, we're creating a void for china. that's not what the president is saying. he's now talking about end gauging gauge i engaging in countries in a bilateral basis. we had boris johnson in the other day, we have theresa may coming tomorrow. talking about starting trade talks with great britain, bilateral agreements with other countries in asia to expand our influence and get countries to play by our set of rules. if we write the rules of the global economy, we will succeed in the 21st century. we have to write those rules, have to engage. the president said tpp is not the way to do it. getti inting good birat ll agres is the way.

why don't you give him credit for ending tpp?now, i give him credit for being a reader of the political tea leaves. but look what else he did. he also re-established the global gag rule which is something very bad. one of the leading causes of poverty for women around the world is the inability to space their children. the inability to plan their families and he got rid of that, which is very damaging. but also the federal hiring freeze. another bad thing, too. >> i do want to ask you about those. but just one second. where you find points of agreement, why not give him credit for those things? >> because -- i think because the people who raise their voices over the course of years that brought us about -- brought about this policy. i want to give the people credit. that's what i believe. >> i understand. as you know, the way it works, the president, who is in office at the time that it happens gets the credit. >> well, i don't necessarily agree with that. in a democraerks it's the people who get the credit and the people drove t

they were against tpp. so theoretically hillary clinton would have been doing the same thing. we'll never know if she would have or not. yeah, that is a big deal. you know, this is going to be a fascinating challenge, i think, for all of us in the media, because you simply cannot ignore the temperament of the new president, the shape of the administration. >> nobody is ignoring the temperament. my suggestion is, at least around this table, that we -- while we focus on the temperament, we also look at all the policy that's going instead of -- >> absolutely. >> i guarantee you there will be people throughout the day on cable news that will lead with the illegals story and talk about it for 30 minutes. they can talk about it for 30 minutes if they want to or talk about things that will actually change. as "new york times" said, bring about an end of an era on trade. >> we can't control what others do. no, i certainly wouldn't recommend doing that, because there's a lot of stuff going on. you've got to look at

everybody on wall street new the new administration would cancel the tpp.o big movement regarding that news. having that said, the rally that started from the election certainly came to a halt the past couple trading days. there are so many pieces moving right now. there was a high degree of uncertainty, and therefore, investors are quite hesitant to jump into the market. guest: president trump also says he wants to cut business taxes massively, but at the same time in pose a border tax on companies producing outside the u.s. how is that supposed to work in a globalized world? >> well, it's going to change quite a lot. down the line, it could increase prices for u.s. consumers because costs for companies could increase. this is also not going to happen overnight. donald trump is talking about a clean border tax in the amount of roughly 30%. congress is in favor of a border adjustment tax in the amount of 20%, and donald trump can get out of tpp by himself. to come up with a tax plan like he talks about, he would need the approval of congress. as i said, tha

of tpp, right? >> i'm supportive of it. i knew it was dead in the ut wahher when both candidates were campaigning against it. my hope is the big transpacific partnership can be replaced by maybe some bilateral trade negotiations which were important and showing we're pro tenthing american manufacturing. the rest of what president trump basically said, as a republican you kind of get excited to hear, he says it in a different way than you're used to, but talking about the idea of reducing regulations, making it easier to create jobs, for factories to be built. that's exciting. let's see what it looks like in action. >> let's talk about some of mr. trump's ideas, he said, look, we're going to cut regulations by 75%. if you build new factories in united states, we're going to gave you massive tax breaks. of course businesses would be happy. who wouldn't? >> right, right. again, the devil is going to be in the details there. the 75% number, that's probably kind of trump just making a large number. i don

sean answered the important questions on tpp. he nailed some of the questions that were asked on immigration. those were some big questions on what president trump is going to do about some of the immigration issues. he said we'll wait and see what is going to do but i thought he was the sean spicer we've known for a long time, as dana points out. saturday, not sure what was going on. i think that was more of a trump administration laying down the law, showing who the alpha is going to be and they wanted to make sure they were the elephant in the room. this was an information press briefing. i thought we got a lot of information. >> that we are used to. i thought he looked good. >> should have taken questions on saturday. he could have helped himself a lot. if what he said today it was what he was trying to stay on saturday night, he could've avoided 48 hours hearing about about how he wasn't telling the truth on saturday. that's what he meant. and take questions and put it aside. >> he also has to -- he serves at the pleasure of

katty: and you supported the tpp.f this conservative doctrine of free trade is going to be thrown out the window by republicans like yourself in order to satisfy the new president? >> the president gets to make these decisions. we all want fair trade, but i think he will be able to put forward trade agreements that are going to be favorable to the united states, that are going to be good for the american taxpayers, and he is going to continue to work on trade. my concern is, in terms of china, they are going to try to go into any void that exists. when i have been to that part of the world, what i know about china is that people in the countries related to tpp want to be friends of the united states, but they don't want to be enemies to china. katty: would you have preferred had not withdrawn from the tpp? >> i think president obama failed to make the case. you have all three presidential candidates in the sense of , hillary, bernie sanders, and donald trump, all came out against the tpp. issued in -- it should be no

wh that's what we did in the context of tpp. >> when he talks about tpp and his opposition what saidyou do -- if you get rid of tpp how will you oppose china? you see it as one of the ways of strengthening itself as opposed to china. >> it was really about embedding the united states as a leader. it is a critically important region for our economy and also strategically. it was a way of raising standards across the region. china is not a member of tpp. some don't recall that. the idea was if you could get china's neighbors to sign up to better labor and better intellect ch intellectual rights that china would have to compete and have to raise their standards ultimately as well. >> so when you look at politics of this you know it well -- you look at a state like iowa. out of many of these concerns agriculture would hugely benefit because countries like japan would be great markets. >> absolutely. >> why don't -- you know, why is it that the people are voting against what seems to be their own economic interest? >> there really is a disconnect there. the entire community is in favor of

australia still backing the tpp -- tpp despite donald trump's plans to scrap it.ll hear from the nation's finance minister. ♪ ♪ australia's finance minister has downplayed the threat of an all-out trade war between the united states and china. mathias cormann telling francine lacqua that australia is still committed to the tpp. looking forward to working with the trump administration. australia has been a long-standing friend to the united states. obviously we are confident that the trump administration is going to be focused on making as asthat america is strong and successful as possible. we look forward to doing lots of business with you. >> this is the u.s.-australia -- relationship. there as another relationship you are reliant on, the u.s.-china relationship. what happens if there is a trade war between china and the u.s.? >> we don't believe there will be a trade war. we do have a strong relationship with the u.s. is our largestes destination for investment and largest source of foreign china ist, and indeed our largest trading partner, the u.s. is our seco

so this whole thing about, oh, tpp, we need it? no.est bogus argument in the world, and the times and the post, cnbc, cnn and msnbc who spin those yarns -- maria: yeah. >> -- really should be ashamed of themselves for keep propagating that nonsense. maria: thank you very much for joining us, we appreciate it. peter navarro. >>> meanwhile, wide spread protests at airports right now, dozens of people detained because of the new u.s. travel restrictions. how president trump is defending his executive order. that's next as we look ahead on "sunday morning futures." we'll be right back. card from capital one. with it, i earn unlimited 2% cash back on all of my purchasing. and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... which adds fuel to my bottom line. what's in your wallet? ♪"my friends know me so well. they can tell what i'm thinking, just by looking in my eyes. but what they didn't know was that i had dry, itchy eyes. i used artificial tears from the moment i woke up... ...t

from the tpp. what specific plans will president trump president do to expand the trade abroad. >> he will talk to prime minister may about greater trade with the uk. when he met with manufacturer ares, that was on the top of the list. how to get greater market access? and the specific challenges that manufacturers are 73sing and getting market access around the globe? that is an important issue. it is not just in other countries, but we can figure out if there is a trade desput or a revisioning to one of the trade treaties now? there is things that congress can update to make sure we are importing and exporting to american businesses. >> thanks. john? has the president have a chat or uniform willal chat with the prime minister before she comes here? >> there are no plans for that now. it is always possible. he has a tremendous number of calls and. well over 80 people who talked to him and congratulated him. and he talked with canada and mexico and prime minister netanyahu yesterday. and president