are both part of the tpp. a lot of the things that were in the 1994 nafta like labor environment and enforceable thegs that were part of tpp, they said they reopened nafta by concluding the tpp negotiations. it is unclear. we know from reports that trump's commerce secretary, wilbur ross, has said that rules of origin will be something he wants to look at. and the dispute mechanism, there are no details and no proposals the actuale clock, clock to start renegotiating has not been triggered even though lawmakers did go to the white house two weeks ago to talk about that. i talked that went and to said there were no details offered by the president and what he really wants to do is a true team is not in place. host: let's listen to what the former deputy assistant trade representative for the obama representation have to say about renegotiating. event yesterday looking at the future of the trade deal. here's what he had to say. mexico, canada and the united states have all wanted to trade certain things in nafta

less reputable, that this lady who had been for tpp still is for tpp. we found swing places that would never vote republican, in the swing states there had been one, two, three cabinet level obama visits pushing tpp. i don't find it a coincidence that these people just said basta. i hate that guy, but i have had it with washington. >> so speaking of molotov cocktails, you may have answered my question. what do i expect looking out my window now, this guy is -- he's the man. >> it is right that our current trade agreements have been really bad for a lot of people, and, you know, look how they were written. he or she who pays the piper calls the tune. you have all these closed deals with all these corporate interests. the question is, if trump is going to make it better or worse. and it could go either way. so there are a bunch of leftover trade agreements that obama had started that didn't get done. it was good news that interrupt wasn't going to revive the tpp, the tpp was signed a year ago today. could not get passed through congress the entire year, a

so tpp doesn't help us. and there were certainly voices in republican party who were not necessarily opposing tpp, but saying we should do bilateral with japan first before moving to tpp. that is i think very important. i have two further questions. one is one is in terms of trade agenda. if you drum up so much as the trump administration seems to do. if you follow the template of what happened in the 80s with japan. we landed in to a grand bargain. it wasn't a free trade agreement, but there was a number of exchange of bilateral letters that eventually also led to the pers et cetera. the question are we heading towards a grand barring against china. you can call it probably the only person that would have the credibility to do a trade deal with china would be trump. i don't think any other president would get away with it. the second question, the problem is we're running against the clock. if we're not doing it or trying to look into the europe problem again, europe probably will strike an alliance with ch

they have already gone out of the tpp and they are thinking about but before you get to tpp i should say you have heard this week within the white house they are looking at all of the free trade agreements that the united states have. at least five iraqi had the idea that they need to upgrade their view. any of the trade agreements that are already on the table so this is already working and i should say we forget most of the trump people are not in place yet but with the secretary of commerce and mr. dove bar in the white house they can move forward in use the ustr staff to do that. so you've got that. another couple of points about the tpp, there's the question of whether you could replace it. you cannot replace the tpp with bilaterals. you can certainly go back and build up and here is a guy who is talked about "the art of the deal." it is a very good deal with some 11 other countries. they scrapped it so now they have to go back and swath through whether they want to do this in order to rebuild it. from an economist's point of view i should point out that bilateral agreement whil

or opposed to the tpp in all the tpp nations. and we have to address those domestic politics just as you do. but when you sit down and youriate a deal, i think own people would assume you have got the best deal. and if you do not think you have the best deal, in your country they take the view it is not the best deal, renegotiating with one or two countries is sometimes possible. renegotiating with 11 other countries when there is someone else that might want to play in this ballpark, it is just unlikely. highly unlikely. the: how have you, given fact that domestic opposition potentially in australia for free trade, but seemingly the government and governments of both parties to overcome that, how do those people in the united states who believe in free trade to find the merits to the populace who may not be seeing it? ambassador hockey: well, at the end of the day, it means cheaper imports, cheaper components. but most significantly, the united states exports go into the fastest growing region in the world without a ball and cha

still join the tpp. we will wait and see. >> in a letter last year you go to the obama administration when the topic of a potential renegotiation is coming up, and he sat in the letter and i'm quoting from an excerpt here come the renegotiation of any form or some other form of an additional commitment is not an option would jeopardize approval by other tpp countries. given the president's withdraw, to fill up his blooper proves u.s. participation during this administration and potential at all future administrations given that mrs. clinton and her campaign decided she was against tpp and needed further renegotiation? >> you can try to negotiate for domestic compensation package for domestic adjustments that helps ease which you might think some of the pressure point. understand this. if you renegotiate the tpp, and the clear message to every other country is you've got to give us more. that's pretty hard to sell and must really for japan or malaysia. actually, you're giving united states more at your ex

that's why i put a focus on whether we could have a tpp 12 minus one, the tpp less the united states, u.s. doesn't want to be part of it. we will be having a meeting in chile in march to canvass all of the options. i just would reinforce that the benefit of the tbp are numerous -- the benefits of the tbp are numerous for small and medium sized businesses. you get lower compliance across the tpp network, and i think it's important try to capture those gains. betty: earlier today we heard from the newly confirmed secretary of state rex tillerson, saying that the u.s. is going to work with many foreign governments including australia, japan, and south korea. the poor it into that, saying that he is trying to repair with australia the relations that were damaged by that phone call between donald trump and malcolm turnbull. do you believe this is an administration you can work with? >> absolutely. our ambassador in the united states has done an outstanding job at maintaining strong open lines of communication with the new trump administration. has had an minister number of conversations wi

and the tpp did that.and it was based on american values, american experience that the region embraced. now when america says we don't even stand by those values, someone's going to fill the vacuum. >> who do you think that is likely to be? [laughter] >> well, we wait and see us. do you still see the united states as a leader in free-trade? you mentioned yesterday u.s. free-trade agreement hasn't come into set the firing line but do people back at home worry about kind of that's the next tweet of the moment? >> well, america has a two to one trade surplus against australia, and we are comfortable with that because she are other benefits i had a bit. as i mentioned componentry. boeing planes, boeing headquarters here in chicago, boeing planes, key components are made in australia in fact i think boeings second-biggest offshore workforce is in australia, helping to make component parts on some of the passenger jets. and, of course, part of the flipside is come for example, where the second-biggest purchaser

that is why i put a focus on whether or not we can have a tpp 12 minus one, tpp less the united statesu.s. does not want to be part of it. we will have a meeting in chile in march to canvass the options. minneapolis fed president has justified his vote to the interest rates unchanged. he noted in nsa that inflation is in check and the job market seems to improve. the former goldman sachs banker also said it is to soon to predict the impact of president trump. global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. this is bloomberg. rishaad: well, china's central refrained from pumping liquidity into money markets for a fourth day, and that could raise rates when it comes to the bond markets. let's get the story from tom mackenzie here. give us an idea of the mechanics involved. the pboc sitting on the sidelines when it comes to these reverse repo agreements for the for the day, and as you point to, part of this tailored approach that policymakers at the pboc are taking to drain liquidity from the system and eke operates. thesey they do

can tpp be salvaged? can nafta be approved for negotiation? would it be more useful to focus on issues posed by the major investment challenge, that is china and its over capacity? have we seated leadership in the east to china? what are the practical implications of a border tax? if we don't do a border tax is unilateral action against mexico and maybe other countries a real possibility? there was a peterson institute publication that said the one outcome of the trump policies that fully enacted could be implosion. that is to say the economy couldn't withstand the disruption. should our trade enforcement regime, should congress take a look? should duties be made more robust to make it more possible to return to market incentives? we are watching strains in the eu. what is trump's approach to brexit and how could the weakening of the eu hurt the u.s. i will start with the broad question and ask each participant to comment briefly and move down the list. the first question is -- oh, i didn't do my intros. we have -- as every panel is distinguis

about tpp. do you feel it's a mistake that the united states has at least signaled its intention to withdraw from the deal? thank you both. >> i feel totally confident that we will have tremendous security for the people of the united states. we will be extreme vetting, which is a term that i developed early in my campaign, because i saw what was happening, and while i've been president, which is just for a very short period of time i've learned tremendous things that you could only learn frankly if you were in a certain position, namely president, and there are tremendous threats to our country. we will not allow that to happen. i can tell you that right now. we will not allow that to happen. so we'll be going forward, we'll be doing things to continue to make our country safe. it will happen rapidly, and we will not allow people into our country who are looking to do harm to our people. we will allow lots of people into our country that will love our people and do good for our country. it's al

trish: well, tpp appeared to be lopsided. president trump talked about fair trade.apan, meantime, much smaller country than the u.s., sending us 136 billion in cars, whatever the number -- hole on let me get that right, 30 sick -- 36 billion in cars, we're sending 6 billion in planes of the that is not the whole story. we export liquid natural gas to them and other things but that is a big deficit there. >> that is what tpp was all about. closing the gaps. before we allowed japan to join the tpp they were required to make major concessions with regard to cross-border trade. so very important. in fact by pulling out of tpp, we just handed the keys to the kingdom to china that regard. i hope a very positive thing in the joint statement in the press conference is some of those principles that were a part of the tpp, sounds like the leaders want to get back to. trish: well, china, i think you are right, is looking that we're saying oh, bet right in there and make a quick into the fast lane where the u.s. left a space. liz: but it becomes tricky, does it not? japan and c

we're 100% behind tpp.his recently negotiated agreement will unlock more trade opportunities with these 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 countries.

but tpp, let me just be clear here, the idea that tpp is the model for renegotiating nafta i think is delusional. i just think people have to remember that one of the things we learned -- and i think we shouldn't have come through this election without learning something, which is that there was a groundswell of frustration and anger and opposition to our current trade model. the kinds of changes we need are deep. they're not shallow and tweaking. we need to rethink the basic principles of our trading policy. and in some of those areas, president trump has outlined some top notes that i think we should agree with, that we should be concerned around the trade deficit, concerned about outsourcing, be concerned about how trade affects good jobs in the united states of america. but i think what is missing from the way president trump has outlined his concerns is that we are part of a rules based system. we need to continue to be part of a rules based system. i think the labor movement has done this. we will work within the system to convince our government, to convince the congress, to wo

tpp, -- on tpp we are fully aware of president trump's as far as an investment with foreign relations, how can we develop and grow our relationship about we will work out the trade. we will make sure that the results are seen and the dialogue. , to make sure it is free and fair for the free trade regime. that was the purpose of the tpp, that has not changed. i believe that. >> thank you. i have a question for the prime minister. for the automotive market in japan, as far as foreign exchange, there have been at the summitsing meeting, what were the discussions, were you able to narrow down the gap? president trump has said that he will make the estates a great country. what is meant by the great country? prentice or what you mean that the united states is a great ally? administrationp the new genesis will be built between japan and the u.s.. proposed,age i have this is the framework of economic dialogue, we were able to agree on this. as the discussions we will be having that during lunch. myself and the trade relations , we have already agreed that we discussions to fully talk about t

but tpp, let me just be clear here, the idea that tpp is the model for renegotiating nafta i think is delusional. i just think people have to remember that one of the things we learned -- and i think we shouldn't have come through this election without learning something, which is that there was a groundswell of frustration and anger and opposition to our current trade model. the kinds of changes we need are deep. they're not shallow and tweaking. we need to rethink the basic principles of our trading policy. and in some of those areas, president trump has outlined some top notes that i think we should agree with, that we should be concerned around the trade deficit, concerned about outsourcing, be concerned about how trade affects good jobs in the united states of america. but i think what is missing from the way president trump has outlined his concerns is that we are part of a rules based system. we need to continue to be part of a rules based system. i think the labor movement has done this. we will work within the system to convince our government, to convince the congress, to wo

they were negotiating tpp. mexico and canada teamed a lot during tpp.y tos to me that is remain bilateral would be important. paula: i want to reinforce the trilateral. importanthink it's so and therefore canada plays an incredibly important role here. rafael: pivotal. paula: pivotal because this will set the stage for the next 25 years or 50 years of what is our trade architecture? trade architecture which has been a winning architecture wins and increaseorld war ii me the economic time by reducing the barriers at the border very briefly. but can doubt is so important and play such an important role, had ledof sylvia, who the charge for so many years intellectually in canada, to ensure canada was part of the quad. the quad was the u.s., japan, europe, and canada. pushed, if you will, many of the rules of the road, commercial rules of the road, at the wto and its predecessor. those rules of the road have brought us to the kind of economic level that we have had today. but again, i want to emphasize, it is not enough. each of our nations has to worry abo

tpp. sometimes, to balance the u.s. power, so it seems to me that's why to remain trilateral would be so important. >> i think it's so important and therefore, canada plays an incredibly important role here. >> it's pivotal. >> pivotal because this will set, you know, the stage for the next 25 years or 50 years of what is our trade architecture. our trade architecturarchitectu the end of world war ii was to make winds and to increase the economic pie, if you will, by reducing the barriers at the border, very briefly. but canada is so important and played such an important role. i think of silvia that had led the charge for so many years intellectually in canada to ensure that canada was part of the quad. what was the quad? u.s., japan, europe, and canada that pushed, if you will, many of the rules of the road, commercial rules of the road at the world trade organization and its predecessor, the gat. those rules of the road had brought us to the kind of economic level that we have had today. but again, i want to emphasiz

he has worried people when he is said to get out of the tpp. with teeming with tpp?ifically the protectionism. global strata 6% of the gdp. to grow global trade rather than shrink. we think that eventually there will be a realignment. solutionl be a win-win that will continue to boost global trade for the past 20 or 30 years. thank you for joining us. robbert right after this. ♪ ♪ back with bloomberg markets. we continue to have a chat with the ceo of shipping here. we are talking about globalization and protectionism talkingthink we were about the possibility of trade in the united states. china is also the other side of this or it they say it would be at slowly ridiculous, it is not in anyone's interest to be doing this. spat affecttrade things? >> we do not see a trade were very likely. it growing trade rather than diminishing it. we see how the u.s. has moved over the past couple of years, the china is looking to export more to the u.s.. i think we see the global growing trade benefiting the u.s. and consumers. i think that is the only way forward. >> there is fi

prime minister, i would like to pick up about tpp. do you feel it is a mistake that the united states has at least signaled its intention to withdraw from the deal? thank you both. pres. trump: i feel totally confident that we will have tremendous security for the people of the united states. extreme vetting, which is a term i developed early in my campaign because i saw what is happening. while i have been president , which is for a very short time, i have learned tremendous things that you can only learn , frankly if you are in a , certain position, namely the president. and there are certainly threats to the country that i will not allow to happen. i can tell you we will not allow , that. so we will be going forward and continuing to do things that will make our country safe. it will happen rapidly and we will not allow people into our country who are looking to do harm to our people. we will allow lots of people into our country that will love our people and do good for our country. it is always going to be that way, at least duri

i'd much rather see tpp go through. but i think the ambassador's right, china will move into that vacuum. and abe is going to have to have a deal with china now and with south korea. and so, this is very worrisome that we see -- if we really go america first, we give the world leadership to the chinese. i don't want to see that happen. so, i think trump is realizing some of the reality. he's going to have to back off from this and go back to the -- yes, i think ceos should go directly and have the relationship -- >> i'm wondering if they can actually fill the void. >> they'll try. >> mr. ambassador, your thoughts on that? >> they can't do anything environmental or on labor relations. they can just cut deals. that's all they can do. >> no government is really expert on what should be negotiated without consulting closely with the private sector. ceos from major american companies, ceos in japan, from major japanese companies, have to inform their government of where they can make some real strides, some real advances in

ramy: this could be the first few steps and redoing the tpp. the tpp was a 12-nation pack.n pulling out of that. so coordination and cooperation on fiscal policy and monetary policy, cooperative projects including cybersecurity, energy, as well as infrastructure build, and also bilateral trade. the biggest thing there, japan is the second -- has the second biggest surplus after china, and there will be a couple of interesting sectors -- factors that play. in the u.s., the automobile sector will be huge. mr. trump campaigned on getting , butback to the rust belt on the japanese side, the prime minister will make sure he does not give too many concessions to the agricultural wing of the country acres that makes up a huge part of the space, so we will have to see if there is a trade-off when it comes to bilateral trade. no date, but this will be with vice president mike pence and vice prime minister taro aso in japan. they have not set a date, but say they also plan to go golfing. rishaad: thank you very much. ramy inocencio there. coming up, the health of the japanese economy

of course, obama couldn't get tpp done. while that was an enormous disappointment for abe, despite that, he was the first one on the plane to see trump after he won the election. and he shows up again now and is going to spend a couple of days with him. there's no question in my mind that the creation of this two track economic architecture between the deputy prime minister in japan and vice president pence is meant to really be something that builds free trade agreement with japan. it will be big to do. the japanese were never happy that the u.s. and china had a strategic and economic dialogue. this is now set up by trump to show his orientation and preferences while both of them are beating on china. i do really think that on the security side and economic side -- it's quite important, as you said, despite the fact that trump killed the tpp and despite the fact that he doesn't have any foreign policy experience, abe is over here saying i need the united states. >> what's your assessment of the description of the call with

did not do very much in the tpp. it's got a very good deal.eplicate that in bilateral's and trump's strategy is doomed to failure. david: do you see any evidence to support your position and hemp's dealing with abe and is met with one asian leader and they have talked about trade? jeffrey schott: they told a fair about -- amount of trade, but they do not talk about a comprehensive trade deal that would replicate what was in the tpp. that would be very difficult to get approval on a bilateral basis. i think more interesting is that the meeting that will take place next month in chile around the summit of the pacific alliance where the chileans have invited all of the tpp countries plus china and south korea to get together to discuss how to go forward from where we are today and how to rebuild asia-pacific economic integration all along the lines of the tpp or something similar to it. david: one of the things we cheer is the downside risk, the approach, how do you put in the model the trump approach? ellen zentner: you have to recognize there i

i think the tpp 11 countries, so that means united states left behind, perhaps, but at least the tpp1 should start its tpp deal without changing, you know, the rules that they had agreed upon. whereas the market result intact. finally, i just want to get your last take on the president. he has vowed to create a " level playing field" when it comes to the currencies of japan and the u.s. and china. how do you interpret a statement like this? could comments like that lead to a corset -- currencya war? >> well, japan has never been engaged in the currency manipulation, particularly after 2010, 2011. so, it is not a question for japan, anyway. and there would be bilateral talks between the two subheads of the government, namely, mr japan and mr. pence for the united states. this framework has been agreed upon. so i think this currency issue can be dealt with their successfully by those. experts. betty yvonne: great to have you with us. >> thank you for having me. yvonne: no problem. coming up, australia's -- plan to return money to investors as it forecast a 50% jump in earnings in the s

benefits that tpp would deliver. turning told include china, which is already australia's largest trading partner and has overtaken the u.s. to be the biggest source of foreign investment in australia. put forward a proposal for its own regional free trade tax, one that would exclude the u.s.. reporter: the french government is struggling to keep a historic factory open. the deputy at the session the beauty minister of industry is meeting with the transport group to discuss a plan to save its factory. the government pledged to pay >> 15 new high-speed trains last year, workers from french industrial group went on strike after the company said it would have to close its sites in eastern france. at stake, so the french government intervened and said it would foot the bill for the production of 15 new high-speed trains on site. but french law requires new contracts to be put to a public bidding process. to get around this, the government convict's that convinced the rail carrier to pay for the 15 trains at a cost of 415

from tpp doesn't mean a thing. the president said this is one of the greatest accomplishments we've had in a very long time. mr. president, it had already been accomplished by many of us who opposed tpp in the house and senate. and on the big promises that could help working america, infrastructure, trade, even on the aca, the trump administration has not even presented a proposal to congress. folks close to the president say he'll be a president of great impact. thus far he's demonstrated himself to be a president of little impact. and all too often the little he's done seems to be a broken promise to working people. this foretells that in future months burden after burden will be shifted off the special interests and on to the working people. just look at the promises he's broken to working people so far. he broke his promise to working americans when he loaded his administration with wall street insiders. he's already trying to roll back wall street reform. despite saying during the campaign he was going to stic

i would like to pick up a daniel asked about tpp. do you feel it is a mistake of the united states has at least signaled its intention to withdraw from the deal? thank you both. pres. trump: i feel totally confident that we will have tremendous security for the people of the united states. we will be extremely setting -- vetting, which is a term that i developed early in my campaign. while i have been president, i have learned tremendous things that you would only learn if you were in a certain position, namely president. there are tremendous threats to our country. we will not allow that to happen. i can tell you that right now. we will not allow that to happen. so, we will be going forward, and we will be doing things to continue to make our country safe. it will happen rapidly. and we will not allow people into our country who are looking to do harm to our people. we will allow lots of people into our country that will love our people and good for our country. it is always going to be that way, at least through my administration,

withdrawal from tpp. >> bannon says the decision will reposition the u.s. as a fair trading nation and bring back jobs. he says it's a big step toward trump's goal to make america great again. bannon says the trump administration has also made progress on security policy and immigration control. >>> turning to the markets, tokyo shares edged lower on profit-taking as investors keep a close eye on trump's economic and currency policies. our business reporter has more from the tokyo stock exchange. >> investors are biding their time amid the lack of clarity coming from the trump white house. they see a march rate hike in the u.s. as less likely now. safe hach assets like the yen strength strengthened. the nikkei 225 lost about .45%, finishing at 19,283. the nikkei has finished lower for the past three days, but it did manage to eke out a gain for the week of .25%. the broader topix fell 0.4%. the machinery and metal sectors were the worst performers. construction machinery maker komatsu fell 5.4%. mitsubishi materials is down 4.5%. toshiba has been swinging b

every day and all president trump does every day is hit his agenda every single day, whether it is tpp, whether it is deregulation, whether it is neil gorsuch. whatever it is, his promise is coming through every day. >> he is even leaving bathrooms alone, that's a nice, refreshing thing for a lot of people as well. >> let us go back to that point that reince made for a moment . is runningent trump and this is another thing the , mainstream media or opposition party never caught. if you want to see the trump agenda, it is simple, it was all in the speeches. he went around to these rallies where the speeches had a tremendous amount of content in them. i happen to believe that he is the greatest public speaker in the larger arenas since williams jennings bryan. we did not have any money. hillary clinton and these guys had over $2 billion and we had a couple dollars. hundred million it was the rallies and speeches. all he is doing right now is he has laid out an agenda with promises he made, and our job every day is just to execute on that, get a path to have those get executed and he is m

we think the tpp agreement framework todes a good boost trade. are put into place -- things change. thatu could have made argument when the u.s. was involved, but now that it is not, perhaps it does not have as much teeth as before, so why not abandon it and move on to regional trade pacts? >> we can do both of course. firstly, it would be preferable for the united states to be part of the tpp agreement from the go, but president trump has made his views clear. we understand there is support among senior republicans otherwise, so this might well involved in the years ahead. so much effort has been put into the tpp agreement as a means of boosting the capacity of businesses and our region to do business with each other and remove trade barriers, better integrate our economies, it would be a shame to throw all of that work overboard. it is a fascinating time for hedge funds. there has not then a lot of confidence. have we seen the bottom? >> i think we have had a period where active management and hedge funds have found life difficult because there

i think shinzo abe is disappointed that tpp has not been ratified. japan had ratified it.ought he could persuade trump to come around to his idea that tpp is a good thing. i think he has ditched that idea and i think shinzo abe is prepared to enter into by lateral trade agreements. the us have said japan is manipulating their currency andjapan japan is manipulating their currency and japan says we are not, where do you go from there? the weaker yen has suppose to have come from the quantitative easing that japan launched in 2013. one side effect is the weak yen. that is because japan is lacking inflation and wants to import inflation. this policy will go on, but it has ups and downs a and last year the yen appreciated, so and last year the yen appreciated, soi and last year the yen appreciated, so i don‘t think president trump has much to say on that front with regard to that particular year in the yen‘s performance. regard to that particular year in the yen's performance. thank you. do you know anything about golf? no, #3w i do know that super mario is high on the list an

he said this about tpp, the trans-pacific partnership is an attack on american business. it does not stop japan's currency manipulation. this is a bad deal. that is obviously relevant, it gives you a look into the mindset the president has about what he believes is an uneven relationship between these two economic juggernaut spirit keep in mind japan has a trade surplus with the u.s., $59 billion last year second only to china. contribute into that u.s. trade deficit, so you can expect trade to take center stage in a conversation but also security. u.s. and japan have had a long and complicated relationship and the president, it should come to no surprise, has set the japanese should do more to protect and defend themselves. meanwhile as we continue what has been a very busy day for the president and his staff, the vice president busy this morning, swearing in the president hhs secretary, georgia congressman dr. tom price. >> president trump has made it top priority of this new congress to repeal and replace the affordable care act with healthcare reform that will lower t

tpp, let me be clear here. i think people have to remember that one of the things we learned and i think we should have come through this election about-- without learning something, which is there was a ground flow of opposition to our current trade model and the kinds of changes we need are these, not shallow at tweaking. we need to rethink the basic principles of our trading policy and in some of those areas we have outlined some top notes i think we would agree with that we be-- should be concerned about outsourcing, about how trade affects good jobs in the united states of america, but what i think is missing from the weight president trump outlined his concerns is that we are part of a rules -based and we need to be part of a rule base system. the labor movement has demonstrated we will work with them to convince our governments , commencement congress to work with unions and environmental groups in other countries to work with their countries to change the rules we disagree with, but not to talk them out

we're trying to put at the center, we are meeting with tpp countries.lliance between chile and the pacific. >> do you see china as a potential major new trading partner for mexico? >> at this point in time, we have not had any new discussions with china. we have widening and decreasing -- increasing our trade relationship. has been pena nieto really strategic. we have opened the markets for mexican commodities. avocado has raised. we are selling more avocados to china. we have increased exports of tequila to china. we are getting more exports from china. i still believe that we are similar economies, and therefore, we are not like the profile you have from some latin american countries, like brazil, where the primary products, they relationship with china. we have a competitive profile. >> you mention brazil. that is a country that is more closed and has economy -- an economy with little growth potential now. >> definitely. brazil is going through tough times now. we do believe the brazilian market is a very strong -- important market. we are basically

it comes nowhere near what tpp was offering. i think it is, kind of, tpp light.hen we look at the parties, the u.s. and japan -- the u.s. is obviously a much larger country, but in terms of negotiating part of power, what is the balance of power? key securitye both allies, and have been for decades. we have seen trade spats between both before. altman, they were result amicably. in the 1980's, president reagan went after japan. in 1990's bill clinton was hawkish toward japan. both parties became a close alliance. we are seeing another milestone in the development of u.s.-japan relations. takes it on aump new path remains to be seen, but right now all the indications are it is about mending. david: it is a who's who of officials -- diane conway, michael flynn -- kellyanne conway, michael flynn -- let me ask where things go from here -- there is talk of an investment partnership. how robust of a relationship do you dispute they will have going forward? enda: if you step back, some of the rhetoric suggested that would be a realignment in east asia, and mr. trump was

. >> you are still going to pursue tpp minus the united states, why do this?ously a lot of work was put into that deal, and there are 12 countries involved. obviously the united states is the biggest, but there are still 11 countries keen to do more business with each other. over time, we believe the united states will want to have a bigger piece of the action in the fastest-growing part of the world, which is the asia-pacific. >> right. >> we think the tpp agreement provides a good framework to boost trade. while the united states might have made a decision at this point, when these things are put into place for the medium and long-term, things change. >> you could have made that argument when the u.s. was involved, but now that it is not, perhaps it does not have as much teeth as it did before, so why not abandon it and move on to regional trade pacts? that exist are can be created? >> the thing is we can do both of course. firstly, it would be preferable for the united states to be part of the tpp agreement from the word go, but president trump has made his