they are going at this outside the wto framework.hey are conducting bilateral negotiations and not multilateral negotiations within the wto. are you disappointed that the u.s. and eu are going it alone? >> i think it raises interesting questions about what is happening in international trade, but we have had this for a long time. we have the transpacific partnership. i think -- we have always had these regional agreements. there are over 400 of them. talking specifically about the transatlantic agreement, this is not about traditional trade. tariffs are pretty low already. this is not where the gains will be. the gains will be on the regulatory side. we know from lots of disputes and discussions that regulatory coherence -- this is not about traditional trade. tariffs are pretty low already. this is not where the gains will be. the gains will be on the regulatory front, and we know from lots of disputes and discussions that regulatory coherence is a real challenge. they have their work cut out to actually achieve what they say they a

those underlying commitments, those underlying commitments to apply sides are subject to wto dispute resolution. >> right. and the process is laid out in the wto agreement, not in the agreement that is being negotiated here? >> what we've got in tpp as both wto dispute resolution process on the substance of the sts commitments but also separate tpp dispute settlements on the procedural enhancements that we are seeking to achieve. >> i've looked at this and talked with some of my constituents, and i'm concerned that there's not enough teeth and efficiency in using the wto dispute resolution process as opposed to elevating this and creating a more effective mechanism in the agreement itself. and this is something that i think we should pursue. and let me ask you this. if there are voices in the administration, and the federal government that disagree with you, where do those forces come from? are the fda? are they worried about their science being under scrutiny? the fda is already science-based, so where is the rabid? >> we approach this by trying to figure out what's the most efficie

we brought an aggressive agenda the at wto. we're continuing to focus on that including standing up the interagency enforcement center. we're very much alive with your perspective. >> look forward to that. yield back, mr. chairman. >> thank you. mr. crowley. >> thank you, ambassador. great to have you before our committee. congratulations to you. look forward to working with you, continuing the relationship we've developed over the past few years and thank you for your endeavors and i want to point out a particular, we appreciate the time and the effort that you and the administration have given and put on the enforcement of trade rules as had been mentioned. as america exports more, we need to be sure foreign barriers to trade are knot erected to prevent the flee flow of american good and services. because it is one thing to have trade but it's another thing to have trade deals that work for us and for our partners. so please keep up that focus on enforcement. i think is paying off. we will continue to do as well. one. major p

they are subject to wto dispute resolution. >> right. the process is laid out in the wto agreement. not in the agreement that is being negotiated here. >> we've got in tpp, is both the wto dispute resolution process on the substance of the sps commitments but also separate tpp dispute settlement on the procedural enhancements we're seeking to achieve. >> i've looked at this and talked with some of my constituents and i'm concerned that there are not enough, that there's not enough teeth and efficiency in the, using the wto dispute resolution process as opposed to elevating this and creating a more effective mechanism in the agreement itself. and this is something that i think we should pursue. and let me ask you this. if there are voices in the administration, in the federal government that disagree with me, where are those voices come from? are they fda? are they worried about their science being under scrutiny? what's, the fda is already science-based. where's the, where's the rub there? >> we approach this in by trying to figure out what is the most efficient, quickest way to res

the wto is essential and with russian wto.e very much are interested in seeing how the large economy, huge economy, sixth largest in the world if you combined the e.u., will shape wto process and bring the agenda there and help it move forward. but we cannot wait for ticket in times of economic doldrums i would say. >> i think that point about trade or tension as measures can't be stressed strongly enough. it is one of the unsung successes of the g20 because if you do compare today to the great depression of the 1930s clearly -- [inaudible] so there is a lot of critique made about the fact that there have been some protectionist measures in spite of the pledge to refrain from them. but there could have been a lot more to be sure. so thanks for that and i now want to turn to amanda sayegh from the australian embassy and for those who don't know the reason. we are glad to have someone from me australian embassy. ms. sayegh is next up as the host of the 2014 summit and so we would like to hear from you amanda about the plans and

the substantive disciplines of sps plus are really rooted in the wto and the wto commitments and theyare of course binding dispute resolution is available. the other elements of sps plus are procedural elements and most of those are also subject to dispute resolution in, under tpp. so we think the bulk of the commitments we're likely to achieve in tpp in the sbs chapter will be subject to enforcement through the wto or consultative mechanism in tpp leading to dispute resolution on the procedural elements. >> we look forward to working closely with you. as you know american agriculture is strongly behind getting some type of enforcement mechanism in the tpp negotiations. i would like to, the remaining time for to you address our ongoing relationship, ever-improving relationship with brazil. we had a hearing on brazil about a month ago and we're looking at possibly doing some legislation to kind of redouble our effort on our trade relationship with brazil. i know you met with them recently. i think they're sending a delegation here in the fall. what we can do, from this committee and co

how big a problem has the wto got?, there are very few issues that need to be resolved for trade facilitation. and these could be achieved by december of 2013 when the next ministerial conference. we at the international chamber of commerce representing 6.5 million companies worldwide will be going to bali. and we are working with the wto and member governments for a trade facilitation agreement. again, it's going to be a debt free stimulus package for the entire world. 576 billion would go to developing countries. and 475 billion would go to developed countries. this is something we need. we need a positive signaling by g-20 countries and also all countries in an increasingly globalized world. >> nicolle, thanks for that. final thoughts here from nick xande rer xander. nick, as we wait for alcoa today, i don't know how much -- clearly it has some import for the resource sector. >> yeah. it's going to have import. more importantly what they say about the outlook for china and asia going forward in terms of demand. we k

they say if they can't find a solution within 60 days, they may ask wto officials whether the tariffs are legal. >>> survivors of the disaster two years ago in northeastern japan are still struggling with what they lost. almost 20,000 people died when the tsunami washed ashore. a girl who lost her older brother is now close to the age he was when he died. like many, those in her family are trying to get on with their lives. >> reporter: she lives in the city in ewatty prefecture. this is his daughter. he still mourns the death of his wife and his young son. they were visiting his wife's parents near the seacoast when the tsunami hit. her younger sister is about to turn six, the same age he was when he died. >> translator: she is so much like her brother. >> reporter: he was about to start elementary school. he made this composity photograph of his son carrying the new schoolbag strapped to his back. >> translator: i wasn't able to see him heading off to school carrying a bag. so i wanted him to be carrying a bag in this photo. >> reporter: the photo stands next to one of his mother. h

know china's got responsibilities under the wto to abide by the sanitary standards of the wto.on in the united states i don't have any concerns. it would involve the extent to which this might be an opening for chinese pork to come to the united states. >> which leads me to my second question. >> are you worried that this deal does open up the possibility that pork exports will come into the u.s. from china? >> obviously if this happens under the free trade agreements, we accept them as long as they are safe and here's what concerns me when this could be a possibility. what's the connection of this to the chinese government? because some -- some companies are tools of the chinese government and others are loosely associated with them but we know in china the government plays a very major role and the extent to which that might be the case, how does that distort the marketplace for pork worldwide and even within the united states? >> nothing gets done that the government doesn't tacitly approve of. what are pork producers in your state and food safety people telling you? >> we h

they say if they can't find a solution within 60 days they may ask wto officials to decide whether the tariffs are legal. >>> more headlines for you in business next hour. i'll leave you with a check on markets. >>> japanese officials are looking for ways to reduce their dependence on rare metals from china. they're getting ready to carry out a survey of deposits in koering stan. officials will conduct their first survey in the central asian nation next week. they're scheduled to visit a mountainous region to look for deposits of ant moany and tongue stan. ant moany is used in electronic devices and housing materials. tongue stan is mainly used by the auto industry. >>> japan's nuclear regulator will begin processing applications filed by four power companies to restart their nuclear reactors. the utilities submitted their applicatio applications on monday to restart ten reactors. the five include the tomari plant, the ohi and tack ahamma plants operated by konsai electric and the others are ikata and sendai. three teams will be in charge to three to four reactors. representatives will

through pursuing an ambitious trade agenda through the wto and also helping to diversify. >> thank you. one of europe's fastest growing digital hubs is offering a lucky startup entrepreneur a $1.5 million prize for the world's best business idea. they are giving away the cash to generate a business using the contents of a startup community base. >> along the narrow streets of london, something is stirring. digital entrepreneurs gathering in large numbers. huddled masses over laptops seeking out financial backers or startup ideas. >> it is a great place to come together and find out what is going on in the tech world. >> you can meet people and that is what is great about this place. >> it is great for collaborating. so many people with different skills. if you have a problem or want a second opinion, there is always someone in this room that you can speak to. it is really helpful. >> the numbers have attracted tech giants like google, an indication of a critical mass evolving into what they call tech city. it is getting the attention of some other big overseas players too. >> google pr

both, left-right, they don't like the corporate welfare, the wto and a half that. so one way to give credence is to show that there is on the ore side of the -- other side of the political spectrum where you have conservatives who are not corporatists and libertarians who are not corporatist, they actually agree with a lot -- these are not minor things, are they? you know, civil liberty, corporate welfare, wars, bloated military budgets, pulled-down trade agreements. i think there's a great possibility for taking it from verbal agreement to institutional collaboration. and i got that idea when we stopped the clinch river breeder reactor boondoggle in tennessee, and the environmentalists were getting somewhere in congress. this was a terrible cost overrun breeder reactor. and then the conservative groups came in on economic grounds, so like it's a waste of taxpayer money. and then you had the environment issue. and it won, the senate dropped it. stunned howard baker. i mean, he wasn't ready for the vote. that was 1983. >> thanks. >> hey, mark. >> hi. you have been a

since taiwan is a member of the wto and apec, we can use this structure, this architecture.my personal opinion, the best finding is two things. we need to have mid term and long term goals. in my personal opinion, we have to look for the development of the agreement between taiwan and china, economic cooperation agreement. we need to develop that one. we need to see and study. then we need to also think about and study about relations between taiwan and singapore. >> also with new zealand. >> singapore is an asian country. this is a stepping stone for us. it is a process. the process is now being done by singapore and taiwan. if the process is ok and there is no additional problem, a think there is the possibility it will be positive for taiwan to be part of it. why not? >> this is very preliminary. >> preliminary. we have to put it on the near- term and long-term goals. >> i think it is important you mentioned that two economies are very complementary in nature. taiwan is very much export dependant. we need to look for overseas markets for our products and services. in the

if you like of the wto and the multilateral trading ground and we are very hopeful that in bali when the wto meets later this year it will be possible to reach an agreement around a package that is the genuine value to all of the nations around trade facilitation. maybe it goes a little further than that but it's a step forward rather than a repeat of discussions that have not been getting anywhere much. and the trade area in the climate is another very important area and energy security. these are all areas where traditionally there have been a sort of fear that emerging and advanced economies were kind of on one side and emerging and developing countries should be treated differently. i think as we have worked around the g20 table and bilaterally it's clearer and clearer that the emerging, the major economies need to talk about these issues on a sort of, not that everybody is the same but on a basis where we recognize that we all have obligations. this came up and you would have seen in today's newspaper in our discussions this week with china there was a recognition that we need t

was the one he said we should cancel nafta and get o of the wto would go back to focusing on making things in cement. 50 percent of all the cars and light trucks it will be made a going to be sold in america. we are not focusing on our country. that is my point. we need new national ecomic program. lou: it might be persuasive, here's theeality. a greater expanding dendency, a government that is expanding without investing. a president to for all the world is making absolutely no sense on economic policy, either international or domestic. we have to change first that misapprehension on the part of the president. this is a free enterprise campus economy. we have got a private sector. nobody has said we're going to foot this thing and make it a central command econo or state . >> as you describe it, a certain amount of unemployment is necessary for the proper function of the economy. at least 10 million out of work in another 10 million -- lou: exce me. how did the -- >> the private sector is subsidized. the private sector you take the fed subsidizing banks. listen. lou: hit into the federal

one prominent case, the wto ruled against a chinese government monopoly, on processing credit card andk transactions. but a year later, the industry is still waiting for action. mastercard started processing chinese currency or rmb card transactions in hong kong, but was told to stop by china central bank, which said the move was illegal. >> we are in the cross water space and r & d settlement in hong kong. i don't see how that breaks any rules or laws. >> reporter: the feeling is growing here that the environment for international companies is less fair rather than more. do you think it is a fair playing field? >> not yet. not yet. to be perfectly frank, there is this notion that the u.s. is a mature market, developed market and china's developing so that, you know, there needs to be time for the field to be totally level. i think we can go faster. >> reporter: eunice eun, cnbc, beijing. >> aaron brickman still with us. looking at that. is there an issue with made in china and chinese investment -- because of those issues? >> i think what you're seeing is a drive of chinese companies

that creates a very uneven playineld and a lot of frankly unfair activity that is in violation of the wto commitments. >> my last question is, how big is the problem need to get before there is a demand from the american people to deal with that? we are estimating today a low estimate of $300 billion, it could be 300 billion or 400 billion in terms of economic impact. be big does it have to before we see concerted effort on all parts to come together to address it? >> it is big enough right now -- the fact of this hearing is an illustration. >> i thank you. i yield back. that auld even argue decade and a half ago, when some of these issues were decided in the house and senate, at the public was always kind of a bit ahead of these two institutions. i will close for the next panel, by -- but i appreciate your comments. i have watched this over from my house days and watched the way -- american corporations and the relationships in china. ntr vote, a of p friend that worked at national airport said there were more corporate jets leading up to the vote than any time in his memory. i am not su

i thank you could also send an important signal about the main ince and revitalization of the wto and the multilateral trading we you think it would be impossible to what would be the people may be go a little further van that good news there a sketch for word? >> they do seem to be getting anywhere much. . .

one prominent case, the wto ruled against a chinese government monopoly, on processing credit card and bank transactions. but a year later, the industry is still waiting for action. mastercard started processing chinese currency or rmb card transactions in hong kong, but was told to stop by china central bank, which said the move was illegal. >> we are in the cross water space and r & d settlement in hong kong. i don't see how that breaks any rules or laws. >> reporter: do you think it is a fair playing field? >> not yet. not yet. to be perfectly frank, there is this notion that the u.s. is a mature market, developed market and china's developing so that, you know, there needs to be time for the field to be totally level. i think we can go faster. >> and so while this discussion was going on about the strategic and economic dialogue, there was also a lot of attention on the congressional hearing of smithfield, the big pork deal. a tlot of people are watching i closely here. one question was raised by the agricultural committee chairwoman when she said do you think this deal would actua

but then look at all the bad policies that we put in place, doma, nafta, wto, glass-steagall.the same thing with obama. he got a tax increase. and now what they are trying to do, put in all these bad policies, bad abortion policies, trying to destroy the government. they took bill clinton into impeachment. if the democrats do not realize this, they are going to lose in the midterms, because black people are not going to come out and represent them. we are not just going to automatically go out and vote for hillary because hillary is not progressive. we are not going to support hillary clinton because she might bring back the triangulation of bill clinton which devastated -- i thought the welfare reform he cut. >> host: bill, let's give bob cusack a chance to bring in here. the caller brings up the midterm elections coming up and how some of the policy issues that president obama is pushing right now might affect that. what are you seeing in your stories in "the hill" on this? >> guest: one of the things we wrote on the weekend is at the beginning of this cycle after the electi

toe are trying take a protectionist stance and establishing some with the wto process. she had this rentable of the original treaty. this wasvernment area, and most of year , it was supposed to be completed by the end of this year. one of them is accountability analyzingnd we are the open area to fulfill these. is some kind of elting block. the new plan on development. theone last thing accountability exercise is becoming more and more important. we are doing accountability and development in the framework , forome other groups example the labor group is doing collection of best practices in different countries. it will probably become more and more important in the years to come. >> one final question, i can't resist. having a little experience, you have had a tough year and i the g if your review of 20 should have a secretariat to what do you do, with the us trillions going forward? such a good team. i'm very proud of my team. organized it and we are clear as well. to work on that and try to get and they areple actually preparing very well. everything they are doing f