to south korea without paying a terrorist as well u.s. cars remember for donald trump always a very important he stated in the path that he always doesn't understand why you see so many asian and european cars on american roads but not many american cars whenever he travels abroad and yes peter i admire the new german economist minister seems to be in favor of a similar compromise others are saying that this would not be the right way to do it since it could give the signal that his very protective actions could be already accepted but i also say that today that germany cannot negotiate as a country those negotiations about terrorism also possible compromises will be done on the european level was still sort of those latest developments seem to come investors nervous equity markets slowly but surely recovering and it looks like investors are hopeful that certainly a trade war between beijing and washington can be averted. yes exactly equity markets in europe are doing much stronger than expected the blue chip index next i guess you can see it

most likely yes the deal is also going to mean that u.s. car companies will be able to export the double amount of u.s. car to south korea without paying tears as well germany's new economists minister appear to my also seems to like this idea but also pointed out that germany cannot negotiate as an independent country about tears and deals as donald trump would most likely call it all of this needs to be done on the european level after she has recovered this morning in asia it seemed that also he and frankfurt investors were again a little bit optimistic but this afternoon at around three thirty shares again were dropping this is happening despite the fact that also shares on wall street recovered and went back into the green the strong euro is giving investors quite some headache again just during last week the euro went up again more than zero point seven percent a very strong euro is considered here as not being helpful for a strong export business the dax finished the trading day with eleven thousand seven hundred eighty seven points that

without paying terrorists at the same time u.s. car companies will be able to export the double amount of u.s. cars to south korea already last year trying announced that the trade relationship with the asian country would need to be negotiated again because in his opinion south korea is importing to much steel from china that is produced there with damping price that has peter i admire the new economy minister is in favor others are saying that it might be the wrong message for the u.s. it would be maybe consider from the u.s. that very protectionist measures would be already except except that in europe are identical in frankfurt thank you so much for this. meanwhile china's foreign ministry says that to beijing was willing to hold talks with the united states to resolve their differences over trade over the weekend china's snooty appointed finance minister warned washington to rethink its trade policy and threatens to retaliate by hitting u.s. agricultural exports. according to the report the discussions will be led by china's econo

and south korea also means that u.s. car companies will be able to export the double amount of u.s. cars to south korea without paying terrorists as well and yes peter as my you just mentioned the new german economy minister seems to be in favor of a similar compromise as well others are saying that this would not be the right way to do it and that could give donald trump a signal that his a very protective actions would be already accepted as my also stated today that germany can not negotiate as a country all those negotiations about tears and also about possible compromises will be done on the european level but yes the pressure is certainly on those exemption that the european union is right now having only in place until may now a question mark it certainly asked slowly but surely recovering from last week's the losses it looks like investors are maybe hopeful that a trade war between the beijing and washington can be averted. yeah you're right you can feel some optimism here on the trading floor this morning the blue chip in the expect this morning actually started with a plate

revolution in america because it would anger both car makers and consumers leading to a recession in the u.s. car market that's the opposite of what he wants. is trump makes good on his threats the german car industry in particular could be badly hurt us folks like b.m.w. and mercedes have their own plans in the united states however v.w. subsidiaries audi and porsche don't and would be hit hard by tariffs the united states is the second biggest export destination for german cars after china last year alone german automakers exported almost half a million vehicles to the u.s. now they're feeling uneasy about what could be to come. here the sidelines of the geneva motor show carmakers are wondering what kind of tariffs will mean for them especially diamond carmakers have production operations in the u.s. and american manufacturers manufacture vigorously abroad as well so perhaps import tariffs will only apply to direct imports from europe but that would be a blur to the industry as well the u.s. is the world's second largest automotive market and the most important buyer for bigger and more expens

many key changes help u.s. car companies like new rules on emissions standards and doubling the number of cars american companies can export to south korea to 50,000. should note here, though, no u.s. carmaker exported more than 11,000 cars last year. and it's mainly due to consumer taste, not because of trade barriers. south korea, its drivers prefer smaller, fuel-efficient cars. the deal exempts steel tariffs limits how much it can export. south korea's the third biggest supplier of steel to the u.s. officials say this delivers on trump's campaign promise negotiating better deals, trade deals, one on one. the u.s. is also talking now with china to avoid a trade war. trump threatened tariffs on chinese imports last week and the chinese came back with their own list of goods that they would tariff. china's also the biggest u.s. creditor. really important statistic here, folks. just as the government, our government plans to sell $294 billion of debt this week, that's the most since the financial crisis, china owns

the new deal is for 50,000 american cars per year. no u.s. ted more than 11,000 cars last year to south korea, mainly due to consumer taste. not trade barriers. south korea, their drivers prefer smaller, fuel-efficient cars. the deal exempts south korea from trump's steel tariffs but limits how much it can export. south korea's the third-biggest supplier of steel to the u.s. officials say this delivers on trump's campaign promise negotiating better trade deelal one on one. the u.s. is talking with china to avoid a trade war. trump threatened tariffs on chinese imports last week. really important here, the timing. china is also the u.s.' biggest foreign creditor, just ads the government plans to -- just as the government plans to sell $294 billion worth of debt this week. look at that. that's the highest amount of debt issued since the financial crisis. china owns more treasury bonds than any foreign country. the sale is to boost federal revenue because of trump's tax cuts. companies are paying less into the treasury coffers. that means, govern

repercussions from countries like china from areas like europe and that could be heard for let's say to the u.s. car industry or also to the aerospace companies here in the united states so this is one side what is making investors on wall street nervous but he wants to investors really expect countries to follow through with new tariffs pretty much every country has said that they don't want to trade war and that they are against protectionism so how is the feeling where you are and certainly i mean if the fight keeps limited and steel we can probably deal with that but the big question is will it remain there or will the u.s. president also start him having tariffs on other areas other industries we shouldn't forget the year ago we had. tariffs on canadian improvs of lumber and timber and there was talk about a possible terrorists on a washing machines and solar panels so that actually accelerates i mean then we are getting really into troubled water but we're all very curious to hear what the u.s. president has to say next week because there's still a lot of details we don't know about at this po

the eu charges 10% on u.s. car imports, and the u.s. charges a tariff of 2.5% right now on eu car imports. aren't there a series and a complex web of tariffs that make it difficult to do your job already? if you look at a tariff situation. is the u.s. commission of international trade has estimated that an uplift in tariffs translates into a reduction in economic well-being . it is telegraphic trade wars are bad for everyone. generally speaking we need to see whether they will take effect. again, i think it goes back to trumps policy, a lot of bark, and let's see if there is actually bite. gregory: -- matt: the eu has tariffs on 50% of goods from the u.s.. whether or not we are in a trade war, tariffs exist everywhere. are you concerned it will escalate, or is this a constant of tariffs that you are ok with? gregory: the risk of a full-blown trade war is low. that is because policymakers recognize the risks, especially in light of the fact that we do not believe the european central bank nor government officials in europe want to derail

intends to offer the americans but donald trump has frequently criticized the high import taxes on u.s. cars and foods like meat. now let's bring in our financial correspondent here journal the german economy minister is signaling the willingness to make concessions the chinese premier saying the country would be open to moves that would bring down the u.s. trade deficit with china what do people on the trading floor think is u.s. president donald trump's strategy working. well first of all it's important to note that the idea of seeking redress for a trade imbalance is not entirely wrong if you look at it from the perspective that export heavy weights three direct demand from elsewhere and that causes local production to sag and create unemployment now whether donald trump should be using a prank been shipped based approach is a is a different matter entirely and that's not really one that anyone here at the trading floor would really endorse now it's an approach that nobody here would really say that they do if they were in donald trump's position but it's also created a situation where in

use high import taxes on u.s. cars and foods like meat. and should the european union not reach an exemption from a fresh u.s. import tariffs the block has announced it would strike back with levees of its own that as divisive as that would be hit is ten pages long and includes some of the most iconic products made in the usa we're talking highly davidson motorcycles for one straight out of wisconsin additional tariffs could hit the company just as it seeking to find new custom is. that sound is worth around thirty thousand euros and holly davidson's munich branch is busy the first rays of spring sunshine see customers flocking here. is now threatening to levy import tariffs on highly davidson's as a response to new u.s. tariffs on steel an element approved by president trump penalties could amount to twenty percent on the famous american cycles twenty yeah twenty percent would be a real blow to the tour it would be a straight three to four thousand euro's more expensive there was no war. the munich harley davidson showroom is called the ho

retaliate but to go the different direction in order to prevent a trade war namely levy less tariffs on u.s. cars coming to europe they're not going to ten percent e.u. cars in the united states two and a half percent apiece trump by lowering these rates over here and prevents a trade war interesting strategy of peason that really in frankfurt thank you very much. well he has mentioned the e.u. and the european trade commission and cecilia monstre has also reacted to the u.s. tariffs on steel and other mini i'm taking to twitter she said on tonight's and nonsense the e.u. is a close ally of the us and we continue to be of the view that the e.u. should be excluded from these measures it will seek more clarity on the issue in the days to come i'm looking forward to meeting the u.s. trade representative lighters in brussels on saturday to discuss and while trump touts his unilateral imp unilateral import tariffs his neighbors canada and mexico and nine other pacific rim nations are lowering trade barriers they're opening their markets with a revamped multilateral free trade agreement which trump rej

but when u.s. carso to europe, there is a 10% tariff. i mean on its face, you can understand why that would bother americans. right? why does that situation exist? >> there's a 2.5% car tariff and there's a 25% truck tariff on imported trucks that come into the u.s. which is why there are no imported pickup trucks. i think if there's an issue that president has with the eu and relates to tariffs, let's negotiate that out but again, i want to highlight the majority of the vehicles that we build -- we sell here are built in the u.s we're very proud of that fact. honda just had last week roll off the assembly line the 25th -- 25th million unit they sold in the u.s.en that needs to be celebrated. international automakers invested to date roughly $75 billion here in the u.s. we employ just over 600,000 americans. we're very proud of that fact. if they want to negotiate auto tariffs, let's negotiate auto tariffs on a global perspective. >> cody, what's wrong with the per item argument? you know, wilbur ross h

s high import taxes on u.s. cars and foods like meat. let's bring in our financial correspondent generic do my lounge at the frankfurt stock exchange now genelle those tariffs yet to be implemented on a friday our european companies they're bracing themselves. yes but not just because they're afraid of the chair of spurs say in fact the european central bank chief mario draghi has sought to reassure the euro zone that to the potential fallout from steel and aluminum tarps would be manageable in the block but of course the real fear here is that. retaliatory measures in response to these tariffs would inspire a tit for tat spiral out of which there is no clear exit that the parties negotiating in washington seem to be doing their best to strike a flexible and conciliatory tone conciliatory tone but no one knows whether it will work not even from the u.s. side it seems and if you need more evidence of that you could just look towards the planned federal reserve meeting tomorrow the new fed chief jerome powell he's expected to stay away fro

u.s. patched companies cars on the road here in the u.s. so probably wouldn't hurt all that much well here's something that probably won't help get on trump's good side german exports grew of eight percent in january we've just learned compared to the same time last year isn't germany's export economy more vulnerable in this particular kind of trade dispute. it's especially vulnerable because there are so many hundreds of thousands millions of jobs dependent on exports in germany and did not make the united states is the biggest single customer of german exports and china is the largest trading partners when you take imports and but over one hundred ten billion euros in german goods went across the atlantic to the united states directly so the economy and the jobs here are directly exposed to day i also counts that playing out on the markets that way you well how's it going down right now. we see negative share price developments all across europe london and paris are holding on italy as well but here in germany with that export to dependen

as part of this new trade deal, each u.s. car maker would be allowed to export 50,000 vehicles per year to south korea. right now it's capped at 25,000. but last year, if you look at most recent history, no u.s. automakers sold more than 11,000 cars to south korea. what makes you think that demand will arise so drastically? >> it also affects the parts component which is a major piece of this deal. we're going to continue working with auto manufacturing in this country. one of the other things that we've seen is an increase in by across the board and people actually making things in america again due to deregulation, due to the tax cuts. we expect business in america to grow and, therefore, the trade component to grow as well. >> as for the automakers, do you believe the actual number of vehicles sold will increase dramatically as a result of this trade deal? last year 11,000. the new number 50,000. by next year will we see a dramatic increase in that number? >> look, this wasn't something that happened overnight. this is certain

revolution in america because it would anger both carmakers and consumers, leading to a recession in the u.s. car market. that is the opposite of what he wants. if trump is good on his threat, the german car industry in particular could be badly hurt. volkswagen, bmw and receipt is have their own plants in the united states but the m w's subsidiaries audi and porsche do not. they would be hit hard by tariffs. the united states is the second biggest export destination for german cars other than china. german automakers exported almost half a million vehicles to the u.s.. now they are feeling uneasy about what could be to come. >> here at the sidelines of the geneva motor show, carmakers are wondering what tariffs will mean with them. especially german carmakers who have production operations in the u.s. and american manufacturers manufacture figures are brought as well. perhaps import tariffs will only apply to direct imports from europe but that would be a bloated industry as well. the u.s. is the largest -- second largest automotive market and the most important buyer for the grammar expensive g

revolution in america because it would anger both car makers and consumers leading to a recession in the u.s. car market that's the opposite of what he wants. for if trump makes good on his stress the german car industry in particular could be badly hurt us for b.m.w. and mercedes have their own plants in the united states however v.w. subsidiaries and porsche don't and would be hit hard by terrorists the united states is the second biggest export destination for german cars after china last year alone german automakers exported almost half a million vehicles to the u.s. now they're feeling uneasy about what could be to come. here the sidelines of the geneva motor show carmakers are wondering what period of tariffs will mean for the especially dharmic carmakers have production operations in the u.s. and american manufacturers manufacture vigorously abroad as well so perhaps import tariffs will only apply to direct imports from europe but that would be a blur to the industry as well the u.s. is the world's second largest automotive market and the most important buyer for bigger and more expensive

auto industries and the parts industries which use a lot of specialty steel in u.s. cars and auto parts so he doesn't seem to be backing down so it's kind of tough to determine at this point where things will go from here indeed i mean he's tapped out this on other subjects before now and then nothing's happened off the words he's not quite followed through this has the potential to escalate if indeed some of the within the policy doesn't. right and it's important to point out that this is one of those issues that the president campaigned on this trade immigration dismantling obamacare tax reform these were these are issues that are near and dear to his or this is something that he campaigned on and he's followed through on some of the threats when it comes to trade he said that he wanted to potentially get out of nafta and the u.s. is currently renegotiating nafta he did not like the transport sipek partnership and the u.s. scrapped that plan so now he's moved on to to trade in these tariffs and so you know it is hard to say where this can go from here but this is someth

intends to offer the americans donald trump has frequently criticized the e use high import taxes on u.s. cars and foods like meat. all right let's bring in our financial correspondent here general the e.u. japan china u.s. trade partners are showing flexibility in negotiations what do people on the trading floor think is donald trump strategy of pressure working. well that's hard for anyone here to say conclusively as the negotiations are ongoing and results are still up in the air but the hope is that the strategy of paying lip service to donald trump strategy is working now we're in a situation where in order to head off a trade war it's important to say anything that one can and if it helps the negotiating parties to make donald trump feel like he's winning in order to avoid a worse outcome well that's a sort of calculation that they would make it's also worth noting that in china's case they've made plenty of pronouncements in the past about widening market access of ensuring better protection for intellectual property but foreign investors have yet to really feel the benefits of these st

coming from from the us i mean if you look at for example the europeans to have a high tariffs on u.s. cars but on the other hand the americans have high tariffs on european foodstuffs for example rock for cheese from friends so and if you add it all up it is true the europeans levy a little higher taxes but it's really it's not the way he describes it there so this would be the argument of the european union and if you would put reciprocity on every little good that is being used to change in the framework of free trade it would be extremely complicated experts here argue it would not work at all so that's why i said earlier hard to see how if donald trump really insists that they have this reciprocity total reciprocity and that he renegotiate all this how we cannot just come back to square one to the position we are at the moment so it really seems like this gave the europeans some some breathing time to think about a new strategy maybe try to convince the u.s. administration that this cannot be solved the way that donald trump wants to solve it but that this needs to be solved multilater

u.s. car companies could only sell 25,000 cars each int kea before, a limit they didn't come close to meeting. e new deal doubles that limit, which ambassador robert lighthizer says should spur more business. >> we think we ar going to make real improvements. it's to the going to go to 50,000tuer manufr immediately. but i think it's going to get way above 25,000, and i think we are talking in the not too distant future about billions of dollars of additional sales. andou i say that other countries do sell in there, and products e kind o that they will buy. >> the white house says there are new cuts to regulation in korea and a side deal combatting currency manipulation as well as caps on how much steelorea can nd to the u.s. that's in light of roonl announced tariffs. trade talks were contentious when they started with president trump surprising south korea'sn president by publicly slamming the deal during their first meeting. >> our trade deficit with south korea has increased by more than $1

u.s. we're looking at the aerospace industry we're looking at the car industry china knows where to hit if it had to but the chinese are already speaking a different language because they know what donald trump's language is and that is come in there with a big stick but really the man from the very beginning is wants to get into the goshi nations with china and this is what's going to happen we heard last week you know what everybody was saying on every other network oh you're drunk trump is or the united states is going to slam china with sixty billion dollars worth of tariffs well that it just wasn't true because there had to be fifteen days first of all where the united states are going to figure out what these tariffs are going to be and then another thirty days to sit on it and scratch your head and wonder what are we going to do with this so the plan from the very beginning is to do exactly what's happening now and that's the push china into talks and china is ready to talk in negotiations well you said so many things there alex but. with regard to agnes where we just leave leave th

standards experts say one unintended consequence could be the defacto creation of a second u.s. car market in california and the twelve other states that have moved in sync with california on pollute.

south koreans are saying no repositioning of u.s. carr will be forthcoming . we have achieve equity strategist for dialogue capital markets. he is not worried about the trade issue. in this is also the view from tom switzer of the centers for international studies. he will be coming on. rishaad: we will because -- we will be talking about this in shanghai. china i should mention you guys have been talking about the oil contract, but it is the missiles contract on the commodities seen seeing the most pressure. ♪ mom you called? oh hi sweetie, i just want to show you something. xfinity mobile: find my phone. [ phone rings ] look at you. this tech stuff is easy. [ whirring sound ] you want a cookie? it's a drone! i know. find your phone easily with the xfinity voice remote. one more way comcast is working to fit into your life, not the other way around. david: almost 11:00 in hong kong, 2:00 in sydney. welcome to bloomberg markets, asia. ♪ david: markets in the asia-pacific down again. japan is heading for its worst in -- since 2016, the ye

u.s. we're looking at the aerospace industry we're looking at the car industry china knows where to hit if it had to but the chinese are ready speaking a different language because they know what donald trump language is and that is come in there with a big stick but really the man from the very beginning is wants to get into the goshi nations with china and this is what's going to happen we heard last week you know what everybody was saying on every other network oh you drunk trumpets or the united states is going to slam trying to with sixty billion dollars worth of tariffs well that it just wasn't true because there had to be fifteen days first of all where the united states are going to figure out what these tariffs are going to be and then another thirty days to sit on it and scratch your head and wonder what are we going to do with this so the plan from the very beginning is to do exactly what's happening now and that's a push china into talks and china is ready to talk in negotiations well you said so many things there alex but. with regard to agnes where we just leave leave that th

s high import taxes on u.s. cars and foods like meat. so let's bring in our financial correspondent jeannette joins me now from the frankfurt stock exchange genelle those tariffs are due to be implemented on friday are european companies they're bracing themselves. yes but not because of their afraid of the steel and aluminum per se it's actually thought that the direct impact of such tariffs on the e.u. would be manageable but rather they're afraid that retaliatory measures in response to these tariffs could inspire a tit for tat spiral out of which there is no clear exit now for now the parties negotiating in washington would seem to be doing their best to strike a conciliatory tone but no one knows whether it will work in fact we have seen today that a key indicator of german economic sentiment w. slipped a few points to reflect a more pessimistic outlook as these trade tensions flare up. you know we've also got reports that bit more raids at headquarters b.m.w. and. has that had any impact on the share price or. indeed both because b

standards experts say one unintended consequence could be the defacto creation of a second u.s. car market in california and the twelve other states that have moved in sync with california on pollution standards as one commentator noted the auto industry could be like the dog who caught the car and end up having to produce two different fuel efficiency rated vehicles. and at sun has failed to block an investigation by the attorneys general of new york and massachusetts and to whether the oil giant effectively defrauded investors the u.s. court of the a a u.s. district court judge dismissed the request from exxon to stifle the inquiry and called the allegations of bad faith by the attorney general's a quote wild stretch of logic more i healey of massachusetts and eric schneiderman of new york are pursuing evidence published in the l a times an inside climate news that exxon publicly dismissed climate change while internal documents found the risk to be real and serious schneiderman's investigators have filed documents in the case that say that they show exxon used two sets of numbers

use high import taxes on u.s. cars and foods like meat. now let's bring in our financial correspondent. here general the german economy minister is signaling the willingness to make concessions the chinese premier saying the country would be open to moves that would bring down the u.s. trade deficit with china what do people on the trading floor think is us president donald trump's strategy working well first of all it's important to note that the idea of seeking redress for a trade imbalance is not entirely wrong if you look at it from the perspective that export heavyweights three direct demand from elsewhere and that causes local production to sag and create unemployment now whether donald trump should be using a prng friendship based approach is a is a different matter entirely and that's not really one that anyone here at the trading floor would really endorse now it's an approach that nobody here would really say that they do if they were in donald trump's position but it's also created a situation where in order to avoid a trade war

a couple weeks ago elon musk, ceo of tesla on twitter says 25% import duty on american cars in china versus the u.sort duty on chinese cars and u.s. car companies can't own up to 50% of their own factories when they build in that country. in response president trump says, reciprocal tax program does that sound like the right move to you? >> well, something has to be done and you see the imbalance 25% tariff and it used to be more than that, by the way, and we have almost nothing europe does the same thing to us we pay american cars going to europe pay a 10% eu external tariff and then once they get into a country, there's a 20% value added tax. american cars in europe are about 40% more expensive than they are in the states german cars don't pay the value-added tax when exported. they get to the u.s., they pay the 2.5% and whatever state tax there is, 4 or 5%. >> should we be targeting europe too then >> well, i think i've been talking about the imbalance in auto mowtive trade between europe and the u.s. the last 20 years and every time i went to washington someone would pat me on the head and say

u.s.? he has an issue with the imbalances. we don't produce any cars in the u.s.. er, we produce 3 million cars. one of the commitments we have is a repatriation of the heavy duty truck from the mexican facilities into the u.s.. that is the first sign of what i ofsider to be a realignment the production interests of carmakers. we think is the right thing to do given the fact that over 90% of what we produce in heavy duties is used in the united states. it was done prior to the bank. rational human beings will be convinced by the wisdom of the performance form this kind of strength. we are doing our part and i think others can do more. we will continue to do more to the americant of industrial policy. i think some of the concerns that president trump is having will vanish as a result of this of you will see restoration the healthier balance between domestic and shafting relationships. i think it's a bad idea not to restore the confidence of european interests. thingry will do the right to restore balance. if we are just given the time and framework with which to get

u.s. by importing cars and limiting the number of u.s. cars that can be sold in germany. >> president trump can impose tariffs using executive action and says details are still being written but the plan is to sign off on the changes. >> you could increase cost for the raw product. and increased cost for what you are selling. will that mean layoffs possibly? i wonder if it will affect the wall. >> we might need some of that steel to build the wall. on that note, president trump could be making a stop here in california later this month to check out the progress on the border wall. cnn reports he will likely travel to san diego around mid- march to get a firsthand look at the prototypes being built there. this will be his first visit to california since being sworn in as president. >> the former attorney general is producing that the president will face obstruction of justice charges. it comes after president trump fired fbi director james comey in the midst of the investigation. and potential ties between the trump campaign and russia. the

lot when it comes to actually happens between south korea and the united states on trade, cars and steel. >> the u.s. doesn't actually sell that many cars in south korea no matter how hard it tries. abby phillip at the white house, thank you very much. >>> kim jong-un's trip to china was his first journey out of the country since taking power. it is hugely symbolic and maybe more than symbolic. cnn's ivan watson for us in seoul. ivan. >> reporter: this was a secret summit, kind of hard to believe that the chinese and north koreans could pull this off. basically kim jong-un making his first trip outside of the country since assuming the throne in pyongyang more than six years ago, and he went to north korea's closest ally going back more than a half century, china. it was a four-day trip and both governments kept it quiet until kim jong-un got back to north korea on this special train that he took to and from beijing. now, this came after years of frankly frosty relations between beijing and pyongyang. they were not getting al long very well, and it wasn't helping that north korea was conducting nucl

key changes to help u.s. car companies like new rules on emissions standards and doubling the number of cars exporting to south korea. the united states did not hit the limit they were allowed to i am -- import to south korea in years. donald trump knows all the best words and went to the best schools. we know that because he tells us. let's assume these were not part of the prepared remarks. >> a word you don't hear much you, but when i was growing up, we had vocational schools. they were not community colleges. i don't know what that means. a two-year college. i don't know what it means. i know what vocational means. call it vocational from now on. >> okay. for you in the oval office or elsewhere who know there is a difference. vocational schools provide hands-on education for careers like electrician or mechanic. >>> the trump administration moving to loosen fuel economy for cars. sources tell the times the plan could substantially roll back obama-era standards. weakening the standards would be a win for carma