-mexico-canada agreement, or usmca. and then after ambassador the new we will host mexican abbasid or to the united states, and finally, our ambassador david mcnaughton, who joined us last year when we had our inaugural meeting and graciously will host us at the embassy tomorrow night for reception. let me make a couple introductory comments. today's discussion comes, obviously, at a very important for the north american trade history. for many years, many of us in this room have advocated for an modernized agreement, one that would engage all businesses and all sizes, and of course, one that would embrace technology in the digital age, and one that would build success that we have .een under the original nafta i think many of you know i have worked really hard to strengthen the ties between san diego and tijuana, our neighbors right next door. binationalrue region. it is a success story in one that i always welcome the opportunity to talk about. free trade works. i will say that again. free-trade works. it is incumbent

is sos why usmca important. our ability to race this in the coming months, you can count on me to be the champion to work with all of you to help get this with onee finish line goal, to get congress to sign this into action. thank you for being here my thank you to our impressive panel of leaders that are dedicated to increasing trade and increasing foreign investment. let's get to the discussion, it welcome mayor to crombie and say a couple of words on behalf of our canadian partners. welcome, just off the plane about 90 seconds ago. great timing, glad you are here. >> good afternoon, i am mayor of the great city of mississauga in ontario, canada, the sixth largest city in canada, the third largest in the province of toronto and ottawa. glad to be here today. delayed a.m. flight was were 12:30 p.m., we counting the minutes. i am pleased to join you here today and join in on this important discussion, thank you, mayor faulkner, ambassador and fellow mayors. it is my privilege to represent the federation of canad

it's called the usmca, like the song, "ymca", right? the u.s. mexico canada agreement, or usmca.ymca. >> the usmca like "ymca", the song. ymca. ♪ ymc [ laughter ] >> seth: oh, boy. don't let mike pence hear you singing a village people song. [ laughter and applause ] no. [ cheers and applause ] he will attach a car battery to your nads and read to you from leviticus. [ laughter ] seriously dude, you're not the village people, you're the village idiot. [ light laughter ] now, the argument that trump can pay for the wall through a trade deal makes no sense. savings from a trade deal, if there are any, wouldn't go to the government. they would go to businesses. a reporter tried to clarify that with sanders in her press briefing yesterday, but sanders just kept repeating the lie. >> where are the additional monies for this wall going to come from? and why is he asking the american taxpayer for them when he promised mexico was going to pay? >> look, we're not asking american taxpayers for that. the money that would be saved through the usmca deal, we could pay for the wall four times

his border wall, and he has tweeted again moments ago, mexico is paying for the wall through the new usmca trade deal. much of the wall has been fully renovated or built. we've done a lot of work, $5.6 billion, that the house approved and is very little in comparison to the benefits of national

usmca didn't pass congress. >> excuse me. are you ready? i told you we made a trade deal. we will take in billions and billions of dollars, far more than the cost of the wall. the wall is peanuts compared to what the value of the trade deal is for the united states. as far as concrete. i said i was going to build a wall. i said i will never build a concrete. reporter: you said concrete. >> i know you're not into the construction business. you don't understand something. we now have a great steel business that is rebuilt in the united states. steel, is stronger than concrete. if i build this wall or fence or anything that the democrats need to call it, because i'm not into names. i'm into production. i'm into something that works. if i build a steel wall rather than a concrete wall, it will actually be stronger than a concrete. steel is stronger than concrete. you can check it out. listen, if i build a wall, and the wall is made out of steel instead of concrete, i think people will like that. and here's the other good thing. i will have it done by the united states steel co

the usmca hasn't passed congress yet, sir. >> we just made a trade deal. we will take in billions and billions of dollars, far more than the cost of the wall. the wall is peanuts compared to what the value of this trade deal is to the united states. as far as concrete, i said i was going to build a wall. i never said concrete. >> you said concrete. >> i know you're not into the construction business. you don't understand something. we now have a great steel business that's rebuilt in the united states. steel is stronger than concrete. if i build this wall or fence or anything the democrats need to call it, because i'm not into names, i'm into production, i'm into something that works. if i build a steel wall rather than a concrete wall, it will actually be stronger than a concrete wall. streel is stro steel is stronger than concrete, okay? you can check it out. listen, if i build a wall, and the wall is made out of steel instead of concrete, i think people will like that. here's the other good thing, i'll have it done by the united states steel corporation

they are paying for it with the incredible deal we made for the united states, mexico, and canada, usmca deal, it's a trade deal. it has to be approved by congress. it probably will be other than maybe they even hold that up because they want to have -- they want to do as much harm as they can, only because there will be 2020 presidential elections. mexico is paying for the wall indirectly. and when i said mexico will pay for the wall in front of thousands and thousands of people, obviously they are not going to write a check. but they are paying for the wall indirectly. many, many times over. by the really great trade deal we just made. congress has to a approve the

-mexico canada agreement called the usmca. that is a whole different world.applause] was onet trump: nafta of the worst trade deals ever made by a country. it killed our country. this will increase imports from weeds, chicken from georgia, dairy from wisconsin, product from farmers and ranchers all over our country. as part of the usmca, canada agreed to give their treatment to american wheat farmers. they will now great american wheat -- grade american wheat just like they do their own wheat. much, that does not mean but to farmers it means a lot. that is what they tell me. i say what can we do? they say "wheat." even the nfl was having a hard time with canada. it had to do with the super bowl. i heard about it and i asked about it. it was a lot of money but it was tiny compared to the overall deal with canada and mexico. it was one of the things, you have to treat them fairly. we had the dispute over the national anthem. that seems to have worked out properly. that is great. i give them credit for that now. listen, when you go to canada, you have to ask for

now we have the usmca. the united states, mexico and canada trade agreement. it's brand-new. it's totally different. it makes it very difficult for companies to -- incentive woois move to other countries. and we will be making billions and billions a year more money. >> so why not use that for the wall? >> excuse me. because i didn't have to. that is paying for the wall. many, many times over -- in fact, what we save on the usmca, the new trade deal we have with mexico and canada, what we save on that just with mexico will pay for the wall many times over, just in a period of a year, two years and three years. so i view that as absolutely mexico is paying for the wall. and that's fine. >> will you be pressuring putin -- >> yes. yes, ma'am. go. >> mr. president, thank you. you ran your campaign promising supporters that mexico is going to pay for the wall -- >> here we go again. >> the wall was going to be made of concrete. you just said earlier the wall could be made of steel and right now our government is shut down over a demand from your administration that the american ta

course, with a very divided government, i was curious about what would happen to the new left, the usmcaspoke with the chamber of earlier today asking if the usmca can pass congress with such a divided government. >> yes. want to know why? it is 14 million american jobs. if you look at the states that are most affected by that old nafta the agreement, the majority are democratic states. the bottom line is this thing is going to get done. he was hoping that confidence is right. he is well-positioned. is that echoed by things that you have heard elsewhere by people who are doing the voting? shery: that seems to be the key question right now. at the moment, the u.s. is so embroiled in his ongoing government shutdown and how that is impacting businesses, really, even tom telling me that they are seeing the impact of the shutdown on businesses trying to get taxes done and other things. this is a key issue they are looking at. although they are saying they are more positive about the china-u.s. trade talks. of course, mike pence speaking now, saying this is not the time negotiations related to

now we have the usmca, the united states mexico and canada trade agreement. it is brand-new, totally different, it makes it very difficult for companies to incentive wise move to other countries, and we will be making billions and billions of dollars a year more money. >> [inaudible] president trump: excuse me, because i didn't have to. that will be paying for the wall. in fact, what we say on the usmca, the new trade deal with --ico and canada, we save what we say will pay for the wall many times over in a period of one year, two years, or three years. i view that as mexico paying for the wall, and that is fine. campaignn your promising supporters that mexico was going to pay for the wall and the wall would be made of concrete. you just said earlier that the wall could be made of steel and right now our government to shut down over a demand from your administration that the american taxpayer pay for the wall. how can you say you are not failing on that promise to your supporters? president trump: a very nice question so beautifully asked, even though i just

. >> now, obviously, congress has not yet ratified the usmca. but even assuming that does, that money doesn't go from mexico to the u.s. treasury to then pay for the wall. explain to me how the math works. >> the president's talked about this i think since he announced the usmca a couple months ago, is that it's so much better for us economically that when businesses do better, when the american citizens do better, taxpayers do better, the government makes more money. so we will be taking in more money as part of our relationship with mexico, and that could be available to build the wall. now, it still requires appropriation, as does all money. if mexico actually wrote us a check, it would still have to go into treasury and then be appropriated by congress. that's how our system works. >> i want to turn to a comment in incoming congresswoman rashida tlaib. the president said her remark saying it was time to "impeach the mfer" was, "disgraceful." president trump is not exactly known as a delicate flower when it comes to the language he uses. >> r

now, we have the usmca, the united states, mexico, and canada trade agreement. it's brand new. it's totally different. it makes it very difficult for companies to, incentive-wise, move to other countries and we'll be making billions and billions of dollars a year more money. that is paying for the wall. many, many, times over. in fact, what we save on the new trade deal we have mexico and canada, what we save of that just with mexico will pay for the wall many times over just in a period of a year, two years, three years. so, i view that as absolutely mexico is paying for the wall. and that's fine. reporter: will you be pressuring -- president trump: yes, ma'am. reporter: you ran your campaign promising supporters that mexico was going to pay for the wall and it would be made of concrete. right now, you're saying the wall could be made of steel and the government is shut down because you want the taxpayers to pay for the wall. how can you say you are not failing your supporters? president trump: a nice question, beautifully asked, i just answered it. reporter: you did not answe

now we have the usmca, the united states, mexico and canada trade agreement. it's brand new. it's totally different. it makes it very difficult for companies to incentivize, move to other countries and we will be making billions and billions a year more money. >> so why not use that for the wall? >> because i didn't have to. that is paying for the wall. many, many times over. in fact, what we save on the usmca, the new trade deal we have with mexico and canada, what we save on that will pay for the wall many times over in two years and three years. i view that as absolutely mexico is paying for the wall and that's fine. >> yes, ma'am. >> reporter: you ran your campaign promising supporters that mexico is going to pay for the wall, the wall was going to be made of concrete. you just said earlier the wall could be made of steel and right now our government is shutdown over a demand from your administration that the american taxpayer pay for the wall. so how can you say you're not failing on that promise to your supporters? >> very nice question so beautifully asked, even though

ow we have the u.s. -- the usmca, the united states, mexico, and canada trade agreement. it's brand new. it's totally different. it makes it very difficult for ompanies to incentivize -- incentive-wise move to other countries and we'll be making billions and billions of dollars a year more money. that is paying for the wall. many, many, times over. in fact, what we save on the new trade deal we have mexico and canada, what we saven of that just with mexico will pay for the wall many times over just in a period of a year, two years, three years. so i view that as absolutely mexico is paying for the wall. and that's fine. > will you be pressuring -- president trump: yes, ma'am. reporter: you ran your campaign saying the wall would be paid for by mexico and it would be made of concrete. right now you're saying the wall could be made of steel and the government is shut down because you want the taxpayers to pay for the wall. president trump: a nice question, beautifully asked, i just answered it. reporter: you did not answer -- president trump: i just told you, we'll take in

now we have the usmca. united states mexico and canada trade agreement. it's brand new. it's totally different. makes it very difficult for companies to incentive-wise move to other countries. and we will be making billions and billions of dollars a year more money. >> so why not use that for the wall? >> because i didn't have to. because that is paying for the wall. many, many times over. in fact, what we save on the usmca, the new trade deal with next co and canada, what we save on that with mexico will pay for the wall many times over just in a period of a year, two years or three years. so i view that as absolutely mexico is paying for the wall. that's fine. >> will you be pressuring putin -- >> yes, ma'am. >> you ran your campaign promising supporters that mexico is going to pay for the wall. >> here we go again. >> you said the wall will be made of concrete. you just said it could be made of steel. right now our government is shut down over a demand from your administration that the american taxpayer pay for the wall. how can you say you're not failing on that prom

you've been following the usmca, the new version of nasta, the trade deal. that hasn't even been ratified by congres b yet the president is declaring it the way to pay for the wall? manu: yeah and that has absolutely no relevance to the way he pitched ts during the campaign and in the early days of his presidency. he said over and over again,il mexico pay for it. so even if the usmca, the mexico trade deal, were ratified, it wouldn't be legitimate for him to say that whatever economic benefit derived from that trade deal would be used to build the wall. it's a specious argumtht. the curious thing that happened this week was we b learneause he had an off-the-record session with network anchors that leaked out, that, in fact, the president himself has deep misgiving aboum theketing of his campaign. he didn't really want to do the televised address. he said the trip to texas was a photo-op and didn't understand the value ofndt he was pushed into it by his communications staff. and to me, thi suggests something else, which is that at some level i'm not sure the

but the usmca trade deal hasn't gone through yet and hasn't yell paid. leader mccarthy was asked about this just a few minutes ago. listen to what he said. >> what specific provisions of the usmca are going to give the money, and if that money is coming, why are you having this discussion about the american taxpayers? >> we're having this discussion because of the crisis on the border. do you know in this caravan, one-third of all the women are -- some are being raped, some are being violently treated? we have children with challenges coming through, we have another caravan starting to come. we have a real challenge here. that's why both sides can sit down, find a compromise that actually secures the border. >> he didn't really answer that question. >> he didn't answer the question at all. you can see steve scalise with the little smile on his face. he was very happy he didn't have to answer it. to the point that's been made multiple times before, this trade agreement isn't in effect. even if it were in effect, if it had been ratified by congress, there

. >> earlier this week, you repeated your claim that through the usmca, mexico will pay for the wall. >> that's right. >> can you describe the specific mechanisms that will -- >> you will see it very soon. we made a new trade deal. nafta has been one of the great dista disasters of all time. now we have a deal that's great for our country. by the way, good for mexico, good for canada also, as you know. we will be taking in billions and billions of dollars more money for the united states, including jobs, including companies that won't be leaving us anymore and going to mexico and in some cases canada to a lesser extent. >> the question was, can you give us specifics. it's hard to know what the president is actually saying there. if you think that's because we have chosen the one clip where he gives a confusing and rambling answer, here is what he said when another reporter asked the same question. >> very nice question. beautifully asked, even though i just answered it. >> you didn't. >> excuse me. are you ready? i just told you that we just made a trade deal. we will take in billions

what specific provision of the usmca are going to give the money and if that money is coming, where you having this discussion about american taxpayers? >> because we have a crisis on the border. do you know in this caravan one third of all the women are being -- having -- some are being raped. we have children coming through. we have another caravan starting to come. we have a real challenge and that is why both sides can sit down, find a compromise that actually secures the border. we had everybody in the room so they want a secure border. this may be a combination to solve it, but i think that is why the president -- i watched him, he has been called through the session. he wanted to get going forward that is why we will be back on friday. we want to make sure this borders secure and this government is open. that is why we moved legislation. that is why the vice president went to the senate when we had the challenge just a couple weeks ago, no counter offer came back. there was not a counter offer today and hopefully friday there will be. >> [indiscernible] will the women at risk of

what specific provision of the usmca will pay for this wall? >> why we are having a discussion, it is because there is a crisis of the border. one third of all the women in the caravan, some are being raped, some are being violently treated. we have children with challenges coming through. we have another caravan starting to come. we have a real challenge here, and i think that is why both sides can sit down, find a compromise that can actually secure the border. everyone in the room says it wants to find a secure border. so we need to find a solution, -- we need a combination to get it solved. and that is why the president -- i watched him in there, he stayed very calm throughout the entire discussion -- and that is why we will be back on friday. we went to make sure this border -- more importantly we went to make sure the government is open. that is why we moved the legislation. that is why the vice president went to the senate when we had a challenge a couple of weeks ago, no control for came back. there was not a counter offer today, and ho

what specific provisions of the usmca are going to give the money? and why are you having this discussion? >> we are having this discussion because we have a crisis on the border. in this caravan, one third of all the women are having -- some are being raped, some are being violently treated. we have children who have challenges coming through. we have another caravan starting to come. we have a real challenge here. i think that's why both sides can sit down, find a compromise that actually secures the boarder. -- oborder. everybody in the room said they wanted to have a secure border. maybe we need a combination to solve it. i watched the president stay calm throughout the entire discussion. he wanted the latest statistics going forward. we will be back on friday. we want to make sure the border is secure. more importantly we want to make sure the government is open. that's why we moved legislation. that's why the vice president went to the senate when we had the challenge just a couple weeks ago. no counteroffer came back. there was not a counterof

in fact, what we say save on the usmca, the new trade deal with mexico and canada, what we save on thatust with mexico will pay for the wall many times over. >> now, obviously, congress has not yet ratified the usmca, but even assuming it does, that money doesn't go from mexico to the u.s. treasury to then pay for the wall. explain to me how the math works. >> the -- what the president is talking about, he's talked about this since he announced the usmca. it's so much better for us economically when businesses do better, when american citizens do better, taxpayers do money and we'll be taking in more money as part of our relationship with mexico, and that could be available to us to build the wall. it still requires appropriation. if mexico wrote us a check, okay it would still have to go into treasury and appropriated by congress. that's how our system works. >> i want to turn to a comment from rashida tlaib. the president said her comment, it's time to impeach the mfer. president trump is not known as a delicate flower with his language. he's sworn quite a bit. take a listen to some o

the usmca has not been ratified by mexico and canada or approved by congress in the u.s. officials have not said how, if passed, this trade agreement would l pay for the wall. also construction has not started on the wall that trump often describes. if it had and if much of it was done why would there be a government shutdown? instead, new and replacement fencing has been added as part of but just a small part of $1.6 billion in border security funding included in that big old omnibus bill signed by president trump last year and that is the same funding democrats have agreed to this time around. that is an amount that president trump says doesn't go far enough from him. >>> now to the smackdown between president trump and mitt romney. this started with an op-ed by romney in the "washington post" and in this he criticized president trump's character and leadership. romney writes when he won the election i hoped he would rise to the occasion but on balance his conduct over the past two years, particularly his actions last month, is evidence the president has not risen to th

they are paying for it with the incredible deal we made for the united states, mexico, and canada, usmca deal, it's a trade deal. it has to be approved by congress. it probably will be other than maybe they even hold that up because they want to have -- they want to do as much harm as they can, only because there will be 2020 presidential elections. mexico is paying for the wall indirectly. and when i said mexico will pay for the wall in front of thousands and thousands of people, obviously they are not going to write a check. but they are paying for the wall indirectly. many, many times over. by the really great trade deal we just made. congress has to a approve the eal. i intended to go and speak in front of the world financial community in da vose. --davos. that's still on, but if the shutdown continues, if the shutdown continues, i won't go. i had planned to go. it's been very successful when i went. we have a great story to tell. we have the best job numbers we have ever had in many ways. certainly with african-americans, with hispanic, with asian americans. overall we have the best

they're trying to work out a deal similar to the usmca.here would be lower tariffs and protection of intellectual property of companies, similar to the usmca. cheryl: the world bank is cutting its forecast for global growth for this year, probably not a big surprise. the bank trimming its estimate by one-tenth of 1%. now the estimate is 2.9%. they say this is due to rising trade tensions, instability in markets and emerging market challenges. most major economies are expecting a slowdown. the bank expecting u.s. economic growth to slow to 2.5% so far this year. estimates are estimates. lauren: estimates are estimates. we're talking about a slowdown and now we're getting more signs from apple that the latest iphones are a big disappointment. cheryl: the news continues, it's bad news. tracee carrasco has that story this morning. >> reporter: the report is that p apple reduced plant production for its three new iphone models for 10% for the january through march quarter, this after it slashed their quarterly sales forecast last week. they att

treasury because of usmca. perhaps american businesses or taxpayers might make more money arrest p and pay more, but that is still americans payinging for the wall. when he talks about tariffs from china, trip tariffs are taxes y americans. so the things that the president is throwing out there have no faskt all bas factual basis in reality. so i see it getting farther and farther apart in the closer together. >> i appreciate you pointing that out. tariffs are paid for by consumers, that is money from a consumer or business's pocket that goes towards something. thank you to you both. now to another big breaking news story that we're watching. a huge surge on wall street one day after another huge loss. the dow is up 720 points right now. or 3.18%. it is very rare that i talk about an up day with a 3 handle. checking other markets, they are all up. nasdaq and s&p 500 are all up in similar measure. the surge comes on the same day as the government released a good december jobs report. i would warn you know that g

we are on the road to a very good north america, the usmca deal could help a lot of people. financial services, digital services are terrific. nobody wants to talk about that, i do. policies,d regulatory our infrastructure is progress. the data shows it. let's just try to keep this up. america has come back on a roll. i want to preserve that. that is all. >> on china, can you give us an update? mr. kudlow: i will try. i'm reading a lot of things in the paper that is not true. what is your question? >> tell us what is true. i will be happy to respond to a question. >> can we roll back tariffs? mr. kudlow: of course not. we are making progress in negotiating on the grandest scale between the two countries ever. --are covering everything technology, theft, ip, forced transfers, family jewels, cyber intervention, commodities, industrial supplies, financial supplies, service. nothing like this has ever been undertaken. the president has led this. he has fought this. the lack of reciprocity, no other president has done this. he has used tariffs when appropriate and now negotiation

deal. >> the usmca deal, that's the trade agreement the president hopes will replace nafta.e and justin trudeau signed this deal in november. i said hopes because that's not law. congress hasn't ratified that. with democrats running the show in the house, there's no guarantee it will. any direct benefits of the deal will be reaped by individuals, not the u.s. government, and the white house argues that yes, more money for american companies means more tax revenue, sure. you but it would be merely impossible to track which dollars are a direct result of the new trade deal, and it is up to congress to allocate that money at the end of the day and you see how that's working out now. bottom line, when the president claims he said mexico wouldn't make a direct payment for the wall, write a check, he didn't just say it, he wrote it down in detail. he says the new trade deal will pay for the wall? it won't. >> thank you, victor. >>> he is a rising star in the democratic party with a uniquely immigrant back story. julian castro is planning to announce he is running for president. pr

the usmca is a great deal. but prenafta, we had huge surpluses with mexico. with nafta we have huge deficit deficits. we lose $100 billion a year on trade with mexico. does that sound good? that's been going on for many years. so i stopped it. >> reporter: you said it's been held hostage by the democrats. but >> president trump: could have done it different the? no, not really. i think by having the shut down we have set the table. for where we are now. if i didn't do the shut down, people wouldn't know or understand the subject. now they understand the subject. they realize what a humanitarian crisis it is. it's called in dealmaking, setting the table. or setting the stage. we set the stage for what's going to happen on the 15th of february. i don't think they are going to make a deal. i see what's happening. they are all saying, "let's do this," but not giving one dime to the wall. that's okay. if they don't give money for the wall, it won't work. if it doesn't work, than the politicians are wasting a lot of time. [reporters asking questions] we have money,

the usmca is a great deal. but pre-nafta, we had huge surpluses with mexico. with nafta we have huge deficits. we lose $100 billion a year on trade with mexico. does that sound good? this has been going on for many years. so i stopped it. >> you said the wall is being stopped by the democrats. is there anything you would have done differently? >> could i have done it differently? no. i think by having the shutdown, we've set the table for where we are now. if i didn't do the shutdown, people wouldn't know, they wouldn't understand the subject. now they understand the subject. they realize what a humanitarian crisis it is. it's called, like in deal-making, setting the table. or setting the stage. we've set the stage for what's going to happen on the 15th of february. i don't think they're going to make a deal. i see what's happening. they're all saying, let's do this, but we're not giving one dime for the wall. that's okay. but if they're not going to give money for the wall, its not going to work. and if it's not going to work, the politicians are really wasti

you know, number one, the usmca hasn't been approved yet. nafta was one of the worst deals ever made. i said we'll terminate nafta or negotiate a new deal. we negotiated a good deal. if you went back to prenafta, that would be frankly okay. prenafta or the new deal. but i won't allow nafta. nafta was a horrible deal for this country. you look at the scars all over our country. where you go to new england, you go to ohio, you go to pennsylvania, you see what -- i mean what happened in north carolina. you have factories that are still empty from what happened with nafta. nafta was a horrible deal. the usmca is a great deal. but prenafta, we had huge surpluses with mexico. with nacht fta, we had huge deficits. we lose $100 billion a year on trade with mexico. does that sound good? this has been going on for many years. so i stopped it. i stopped it a lot. >> you said the wall is -- [ inaudible question ] >> no, there's nothing. look, they had this from -- yes, could i have done it differently? no, not really. i think by having the shutdown, we'

you have been quite successful, the administration has, in renegotiating -- i mean, you have the usmcawhich is a feather in the cap. you have a renegotiated korea deal. why not renegotiate tpp in a way that works with all of our economic allies in the region? because if you know anything about china, as you do, most people who know china think that if there were a regional economic alliance that didn't include them, they would do everything they could to join it and that you could use that leverage in order to exact certain outcomes. >> true. >> isn't there an opportunity for the trump administration to make tpp better? >> we are, effectively, renegotiating tpp within the context of bilateral negotiations. >> are you working on a bilateral with japan? >> yes. that's already been announced. >> yeah. >> this is -- i mean, this is like -- peoples heads are spinning, because, you know, initially, everybody, including people on capitol hill, were criticizing the president for being reckless about trade and talking too tough, and you're gonna upset the applecarts. and they now all understand

ducey: with an updated north american free-trade deal, known as the usmca, this will mean even more trade coming through our ports and more jobs for arizonans. [applause] gov. ducey: i have become fond of saying that the last time unemployment was this low you were renting your movie that -- at blockbuster. but the benchmark is moving. by the end of this year, unemployment is forecasted to plummet to levels we have not seen since before you knew what a hashtag was. some said that teacher pay raise was unsustainable, and based on rosy projections. turns out that those projections were not rosy, they were in response to a growing economy. that has led to a record balance in our general fund. [applause] gov. ducey: when i stood here four years ago, we faced a $1 billion deficit, it is not by accident that today, we have a $1 billion surplus. [applause] and breaking news, somebody called the daily show , we even own this building again. [applause] gov. ducey: arizona weathered the storm, made tough decisions, held the line on raising taxes, and will continue to hold the line on raising taxes.

we are also talking about effects on the usmca, what the commerce department does on trade.tine: absolutely. even the international trade commission, people are waiting to hear what they have to say on economic effects. that whole thing is on hold. they are not taking any more requests for the 232 tariffs. the ustr said they will be closing their doors next week if the government continues it shut down. this is where the rubber hits the road pretty soon. things see more and more start to slowdown, if not stop. simply because the government without thesen ground-level people who work they and night to keep everything moving. sophie: with the report on the usmca is delayed with the business community backing the pact. do you see a vote happening in congress this year? i have always been cautiously optimistic but now i am really optimistic after hearing tom donahue's talk. he said that might sound ambitious and that might sound crazy but we don't care, we will get it done. i think now that we have a real signal from the business community that they are going to thengaged, a sig

the usmca, i keep thinking u.s.arine corps, is a good deal and must be approved to maintain the relationship with their top two export markets. it must be approved by congress. now that we have struck the deal with canada and mexico, the administration must also make good on its repeated promise to remove the steel and aluminum tariffs that were imposed in the heat of the negotiations. this would be an encouraging sign to all of our other partners, including those that we are currently pursuing new marketing openings with, like japan, the eu, and the u.k. hat about china? the chamber supports the administration negotiation to address china's theft of ntellectual property, forced technology transfer practices, and other unfair trade and industrial policy. what we don't support is the development of a trade war, which is being developed and waged through mounting tariffs. let me be very clear. tariffs are taxes paid by american families and american businesses, not by foreigners. instead of undermining our own economy