the wto has no role whatsoever.me into play once the conversations between the two sides have been concluded and the two will present the wto members what they believe their commitment should be, these are the the other members. role.then we have no my hope is whatever the outcome we are going to have, it will allow for a transition that is smooth and will not cause turbulence in the global economy. the turbulence is something we do not need at this point in time. mark: thank you so much for joining us today. roberto, general director of the wto. vonnie: let's check in now on the bloomberg first word news with courtney donohoe. >> in russia u.s. secretary of state rex tillerson got a chilly reception today. russian foreign minister sergey lavrov accused the u.s. of carrying out an unlawful attack against syrian forces. he is referring to the u.s. attack on the base last week. in retaliation for chemical weapons being used on syrian civilians. tillerson says the two sides have large differences what that the talks co

in the wto itself there is a defense for human mora forls, human health and animal health. there are these defenses in every wto agreement and we figured out a way in all of those agreements to approach some sort of necessity test so we don't hide protectionist regulation under the banner of prudential regulation when it isn't actually prudential so we have to explore this. this is the journey we were supposed to have started in 1997, 20 years later, better late than never, but this is our opportunity to actually put that in place in the context of the eu/uk agreement but also in the context of the u.s./uk agreement. financial services has been a very difficult issue in the u.s./uk/u.s./european relationship. this sort of mechanism and approach is a way of recognizing the importance obviously of safety and soundness concerns but also recognizing that that's not a purpose of the financial services sector. the purpose of the financial services sector service is to act as an intermediary so it can result. it should be safe and sound but if that's the goal, if safety and soundn

if you want protection on trade, wto generally doesn't worry about the little guy. they worry about big corporations. and there is a lot of regulations. there are a lot of regulations on international trade right now. and of course free market person doesn't like those kind of regulations. liz: the parent of google reporting stocks closing in record territory. alphabet beat expectations. stock is up after hours hitting a new all-time high. and amazon jumping after hours. another airline controversy in the not so friendly skies. >> i purchased a ticket. liz: a passenger kicked off a plane parked on the tarmac base has to be excused to the bathroom. who is right and who is wrong in this one. say carl, we have a question about your brokerage fees. fees? what did you have in mind? i don't know. $4.95 per trade? uhhh. and i was wondering if your brokerage offers some sort of guarantee? guarantee? where we can get our fees and commissions back if we're not happy. so can you offer me what schwab is offering? what's with all the questions? ask your broker if they're offerin

reporter: the imf, world bank, and wto have released a report outlining how free-trade good and does benefit the world's workforce, and on paper they make a strong case. global gdp has more than tripled in the last 30 years. international trade has lifted hundreds of millions of people out of poverty. but there was no denying the elephant in the room -- populists like u.s. president donald trump have risen to power on a rife popular resentment of free trade. more people ever than before feel economically excluded, and populist politicians are playing on them and employing rhetoric heard during the trade wars of the 1930's. the world bank president says free-trade is about more than just business. >> it is an issue of social justice, because open trade has played a central role in the billions of people out of poverty. we support open trade because it is the only way we will be able to end poverty and boost prosperity of the poorest people in the world. reporter: but he cautioned that governments need to do more to make sure everyone benefits from free trade. trade is truly a tide tha

there is certainly nothing in the wto rules, which i happen to have brought with me.. these are them from doing anything. these are the 500 pages of the basics of the rule book. he snores. that is the co re rule book. he snores. that is the core of it. if you want to get across it... the results of the euro negotiations. their coffee stains you do read is on holiday?” negotiations. their coffee stains you do read is on holiday? i would not be allowed to take it on holiday with me. donald trump, overnight, about steel, at the minute it is just about a review. can he do anything about it? under us legislation committee can. world trade organisation rules, restricting imports beyond what you have committed to in wto negotiations is generally inconsistent with the rules. there are some exceptions on national security issues in this book. i emphasise i am not a lawyer. but having read them, i would be quite surprised if they are much use to president trump, if he wanted to impose restrictions. if he did, you might face action within the wto and the possibility of retaliati

wto? >> wto is another subject matter and have concerns and questions about it. it will be a wto meeting coming up in the next several weeks. what will come out of that will come out of that. >> in your view should the u.s. stay in the paris climate agreement or withdraw? >> now you're really getting outside. [laughter] it is really outside my area. i'm having enough difficulty dealing with trade issues rather than poaching on other people's territory. about --u concerned with south korea? >> the fifth anniversary of the south korean arrangement comes up i believe on may 4 or may 5, something like that. a logical time to think through whether there was something to be done or not. is michael flynn now a trade issue? .> thank you, mr. secretary continuing the eu. how would that affect the relationship with france and the eu? >> such a hypothetical question i find it difficult to answer. i think let's wait for the french runoff election. let's see who's elected. what actions they take and then we will be in a position to make a reasoned response to the question. >>

the wto says the value of goods shipped around the world will increase by 2.4% this year, and potentiallyrow even faster in the next two years. this is up from a very wea k next two years. this is up from a very weak i.3% expansion in 2016, but very weak 1.3% expansion in 2016, but the trade body also warned of potential risks to its outlook on trade, which include the danger of protectionist government policies in response tojob protectionist government policies in response to job losses. 0ur correspondent has more on the wto's numbers. they crept up the numbers a bit but it means we are on the right trend. and what i read from that is two question marks over the trade environment over the last six months 01’ environment over the last six months orso, environment over the last six months or so, exit and the trump election and the trump presidency, and because both of them embody or at least tilt towards some of this protectionist instinct. what we have seen is very good stewardship in london and good stewardship on trade in dc, at least in so far as saying that no one is spoiling for a t

and india are governed by the wto rules. there's nothing in the actions we've taken that changes that. >> reporter: following up on what jim said, though, housing prices do increase due to this, what do you tell the average consumer in the united states if prices are going up. they didn't bargain for that? >> well, i don't know what they bargained for. i'm sure what nobody in the united states bargained for is people dumping product. it's no different whether you dump steel or aluminum or cars or lumber or anything else. nobody has -- >> reporter: counterveiling duty and price dumping two are different things. which is it dumping? >> this is counterveiling duties. >> reporter: can you give a specific timeline when the president is going to announce intention to renegotiate with nafta and could it complicate efforts to get a good deal? >> we put the congress on notice a few weeks ago of our intention to renegotiate nafta. what's been stalled is getting the trade promotion authority, the so-called fast-track authority approved

ross: the trade relations are governed by the wto rules. there is nothing in the actions we have taken that changes that. >> following up on what jim you tellugh, what do the average consumer and the united states if their prices are going up? they didn't bargain for that. and ross: i'm sure nobody the united states bargained for people dumping product. it is no different if you dump steel, aluminum, cars, or lumber, or anything else. anti-dumping -- intrinsically two different things. sec. ross: it is countervailing duties. timelinee a specific when the president will announce the renegotiation of nafta, and could this complicate his efforts to get a good deal? what has been stalled is getting the trade promotion authority, the so-called fast-track authority approved by .he congress now, bob blight highs are being confirmed out of the committee lighthouserb being confirmed out of the committee today, that should allay some of the concerns they have. now, the catch 20 22 that was -- the catch 20 22 that is it is a circular thing. in any eve

and india are governed by the wto rules. there's nothing in the actions we've taken that changes that. >> mr. secretary, following up on what jim said though, if housing prices do increase due to this, what do you tell average consumer in the united states if the prices are going up? they didn't bargain for that. >> well, i don't know what they bargained for, but i'm sure what nobody in the united states bargained for was people dumping product. it's no different whether you dump steel or aluminum or cars or lumber or anything else. nobody has -- >> you use the term counterveiling and antidumping. technically they're two different things. which is it? dumping or counterveiling? >> this is counterveiling duties. >> could you give us a timeline of when the president may renegotiate nafta and could this compromise getting a good deal? >> well, we put congress on notice two weeks ago of our intention to renegotiate nafta. what's been stalled is getti the trade promoti authority, the so-called fast track authority, approved by th

. -- wto. on most—favoured—nation tariff rate for the wta. —— wto.s the time delay and more the cost implications. those sort of figures apply if you are talking about bangladesh or turkey. you asked the questions about whether brexit would see a resurgence in uk manufacturing. that is an opportunity for us. if you take the manufacturing community within london, 13,000 in ploy is making high—end manufacturing products. over 70% of people are from eu countries. there was a real concern we will lose that level of talent. we need the government to do something around changing the way we can bring in those talented seamstresses and cutters. so they are not seen as seamstresses and cutters. so they are not seen as low seamstresses and cutters. so they are not seen as low value. a lot of these people won't be earning £35,000. but without them, the fantastic creations would not happen. and one mp couldn't pass up the chance of some free fashion advice. final question. for mps in front of you, 650 in the house of commons. how do you rate our fashion sense? t

and industry are governed by the wto rules. there are nothing in the actions we have taken the changes that. reporter: following up on what jim said, what doesn't increase due to this? please tell the average consumer in the u.s. that prices are going up, they didn't bargain for that. mr. ross: i don't know what they bargained for, but i'm sure no one in the united states bargained for people dumping product. it is no different if it is steel or aluminum or cars or lumber, or anything else. anti-dumping, intrinsically different things. which is it? mr. ross: this is countervailing duties. -- the timeline for when the president is going to announce his intention to renegotiate nafta and could this complicate efforts? mr. ross: we put congress on notice a few weeks ago on our at -- intention to renegotiate nafta. install is getting the fast track authority approved by the congress. -- openly --er hopefully coming to the senate for a full vote very shortly. that should cure one of the objections that some of the senators had, name

so much more peaceful and prosperous since 1945, thanks to the nice liberal order institution, the wto and so on. why must these beastly blissfully little that seems to be an extremely dangerous and i don't think we can explain peact and prosperity in that way, i think might be fake history and explain my think that. why is it not liberal? because the principal beneficiary of this wonderful order has been china. yes, that has been the principal winner. back in 1980 china accounted for perhaps 2% of the world economy. the u.s. and canada together we are about one quarter of the world economy. what are the percentages now? today, china accounts for 18% of the world economy in the u.s. and canada together slightly less. 17%. our present trends that will grow by 2021 the imf says china will account for one fifth of the world economy. how can it be a liberal international order if the principal beneficiary is a 202 one-party state run by a communist elite? they're not the onlythey are beneficiaries. there is a terrific article about liberal democracies.racie. the ones with elections that ha

but to that end, president trump has said china has been abiding by the wto.he market has been seeing this potential for a trade war as a specter looming out in the distance. and the question is whether it's fully priced in, or whether it would be something that would tip this rally going forward. melissa? >> kayla, thank you. indeed, a crucial test for the commander in chief this weekend. kayla was talking about a specter. is a specter for you as an international investor? >> absolutely. it's been interesting to see the style which has been to throw a very, you know, loud and very aggressive anti out there and pull back. does trump have an appropriate, or i should say, when he says china is currency manipulator? i don't think so. i'm not sure this is something we didn't want and something we didn't perpetuate. when i think about this meeting, i think it's important the respect that's being paid to president xi. and i think this is a case where we haven't met with russia yet. we haven't met with a lot of the other world leaders. this is a formal summit that i

the wto and the oecd did this multicountry cost economies study and they said if you look to the value added of trade whereas currently the way it's done through customs, said that about 23, 24% of world trade was services. when you do the value added approach it turns out that something like 48% of world trade our services. are there other questions though? some way in the back and then in the middle here. >> doug palmer with political. i came in a little it's i he talked about this new executive order that trump is signing today where he is basically going to direct ustr and the commerce department to examine all the significant bilateral trade deficits to determine what their causes are. then i guess that's going to provide him the ammunition that he needs to go after these bilateral trade deficits using whatever trade remedy tools are at his disposal. i just wonder could you comment generally on that idea? do you think that that's an effective approach to trade policy by trying to examine the root causes of the bilateral trade deficits with all these countries? and then just more g

said the wto would be looking into overproduction out of china on primary aluminum.ases on excursions, downstream products or products you and i might use in automobiles or airplanes, for example. we had a case that was put in front of the itc on aluminum foil coming from china. that is what is already out on the front. oliver: we know how regionally specific this will be? is it clear it will be china? or else do we get aluminum from? joe: i am not sure that the market knows what it is. you saw different types moving. you have downstream product makers who were moving. import 4ion is, we million tons of alumina every , mainly canada, russia, the middle east and other countries. we import zero primary aluminum from china. oliver: so this is a certain type of material or metal, or will it be -- obviously the idea is they will look at the entire market. it will be downstream and upstream products, and they will come up with some sort of report or whatever that says here is as lay of the land as to -- to how they will frame it, i on certain. it is primary aluminum and wh

>> well, wto is a whole different subject matter. we doville some questions and some concerns about it. there will be a wto meeting coming up in the next several weeks and what will come out of that will come out of that. >> mr. secretary, thank you. in your view, should the u.s. stay in the agreement with paris or get out of it? >> well, now you're really getting out of it -- >> you're a participant of that discussion. >> it's really outside my area. i'm having enough difficulty dealing with the trade issues rather than poaching on other people's territory. >> are you concerned about the renegotiations of [ inaudible ] with south korea? >> well, the fifth anniversary of the south korean arrangement comes up, i believe, on may 4th or may 5th. something like that. so that would be a logical time to think through whether there was something to be done or not. >> michael flynn's name off the front pages? >> is michael flynn now a trade issue? i wasn't aware that he was. >> thank you, mr. secretary. >> secretary, here's one more way out

and india are governed by the wto rules. there's nothing in the actions we've taken that changes that. >> following up on what jim said though, housing prices do increase due to this, what do you tell the average consumer in the united states if their prices are going up? they didn't bargain for that? >> i don't know what they bargained for. i'm sure what nobody in the united states bargained for is people dumping product. it's no different than steel, aluminum, cars, lumber or anything else. nobody has -- >> anti-dumping, technically that's two separate things. >> this is koupber veil -- counter veiling duties. >> do you have a timeline when the president will renegotiate nafta and could this complicate his efforts to get a good deal. >> we put the congress on notice quite a few weeks ago with our intention to renegotiate nafta. what's been stalled is getting the trade promotion authority, the so-called fast track authority approved by the congress. now, with bob lighthouser having been confirmed out of committee today and

this is a dispute that is probably also down for a wto type of resolution.: thank you very much. coming up, goldman sachs chief economist will talk about u.s. fiscal and monetary policy coming up later today on bloomberg. this is blmberg. ♪ david: welcome back, we have the first 100 days of donald trump with a focus on politics and policy. in a few hours, donald trump will sign an executive order promoting agriculture. his topic and mom it advisor -- his top economic adviser will meet with gop leaders to talk about the tax plan. tomorrow, he will a out his broad tax principles come a plan that would include cutting the federal corporate tax rate to 15%. we are looking at a looming budget funding deadline midnight friday the same day that trump hits his 100th day in office. let's go to capitol hill to break it down. let's start with taxes. what will you be listing for this afternoon and indeed into tomorrow? foremost, how will they unify this republican party on issues like the, revenue neutrality and whether or not they can make the case that this will make

the wto is in a u.n. organization. it's affiliated. you have the u.n.ushing one way and other organizations trying to protect migrant rights from the anti-immigrant sentiment that break seven countries. this is a little different than the current discussion about trade. so when i think of what was done by the fao, the food agricultural organization, they talk about import surges. this is not a developed country, it's about the developing one. they talk about one cotton is the barrier on cotton was dropped to zero in india. in one year they relate et dozen suicides. these were cotton producers who couldn't make a living producing their cotton compared to the cost of the imported cotton. so the trade theory is reasonable. division of labor with free trade. people talk about it as though it came down from the mountain on a tablet with moses. my feeling is it's a reasonable theory, but there's some negative externalities in the way i think of them and write about it in the book. they become social problems that nations and tragedies of individuals. you got

i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. neil: a lot of ivy league colleges, $40 million in federal funding, that is all they took from undergraduate tuition, why do they need the money in the first place. >> the schools get 7 federal dollars, and -- neil: why do they need the federal -- >> and we only gave a lot of money to our students with financial problems and i said that is not the issue. what if i'm in the middle of the country and putting -- and pockets are so deep, they are to be paying more of their fair share rather than living off the largess of the federal government. neil: what do you think of this? >> 100% right, no reason the uber driver or factory worker, subsidizing lavished -- they went to be with them. the life is unbelievably lavish, the fact that somet

even under the wto this will continue. them because they have a very huge trade deficit. —— them. 60 billion quid! what is? the trade deficit! don't argue with an economist. tory sidestep heathrow split. the manifesto, will it mention heathrow? i don't think so. we are one week away from the publication of the manifesto. theresa may looks like she will dodge one issue that is difficult because borisjohnson dodge one issue that is difficult because boris johnson and zac goldsmith, who wants to be an mp again, are both opposed to it. don't mention the war or heathrow. what does that suggest to you about when a decision will be made, then? they will be kicking this down the runway, pretty much. runway? this election is all about brexit. this is giving her that referendum before the referendum so she can argue under herown terms, the referendum so she can argue under her own terms, which, in some respects, i think, under her own terms, which, in some respects, ithink, is needed. we decided to get out. this is negotiating. you

if we do not get a deal that is in britain's interest, we are willing to walk away and fall back on wtosto? are you sure?“ you are going... she is called the election for a reason. she cannot just go and hedge bets and be modelled about it. i'm not saying what she will do. but this is what i think she should do. —— has called. but will she put in there the promised to make immigration fall to less than 100,000, to be tens of thousands? that is sunning she do and has said is still an ambition of the government. it is something that everyone knows is a completely discredited target, even our own brexiteer tory ministers, liam fox, borisjohnson, they will all against certain elements of it. they think student should be taken out of the targets. then there is a lot of division across this particular point. and she is promised at up to this point. if that is not in there, i would direct every brexit voting memberof the i would direct every brexit voting member of the public to say... and that includes you, laura. i would be saying is this not the government are ditching a key policy? to make

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i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. they also know you need to getg your annual check-up. now with one touch using the mycigna app you can find a doctor in your plan's network to save money. need to be thorough. pabut with odor free blue-emu continuous pain relief spray, i can box out any muscle or joint pain immediately. blue-emu continuous pain relief spray, it works fast and you won't stink. >>> trending online right now, a selfie of a 23-year-old undocumented immigrant holding her federal tax return. she wanted to show she pays taxes and to dispel the myth about undocumented immigrants. and she included a vocal jab at president trump. thank you for coming on. you're a student at arizona state university. you have some protections under president obama's deferred ac

i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. at angie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. [ toilet flushes ] so when you need a plumber, you can count on us to help you find the right person for the job. discover all the ways we can help at angie's list. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. successful filibuster. now back to bulls and bears. dagen: ivanka trump making her role official joining as an unpaid employee. critics say the move is in violation of nepotism laws. >> i think so many things we are talking about we sh

i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. ing. gary: almost immediately after suffering a defeat for healthcare, the trump administration is pivoting to tax reform. trish: are the republicans going to be able to work together on tax reform? and what would a bill look like that could get through the house and senate? our next two guests are the two most sought-after names with it comes to tax policy. we have steve forbes, along with americans for tax reform groample norquist. steve, this has been your platform and grover's platform for some time. in light of the lack of savings they were anticipating from healthcare reform, can it still be done? steve: it can be done. one of the things the relationship cans have to do in congress is stop worshiping the congressional budget of

what the world bank -- not the world bank -- the wto and oecd -- wto did, tthe world ban some, too. they looked at trade and broken it down by value added. as caroline was saying, an automobile or airplane that comes in has services built into it. whether it's computer related services whatever, this is a multieconomy cross country study and they said if you look at the value added of trade whereas currently the way it's done through customs, said that about 23%, 24% of world trade was services, when you do the value added approach, it turns out that something like 48% of world trade are services. are there other questions, though? some way in the back and then the middle here. >> hi, doug palmer with politico. i came in a little late so i don't know if you talked about the new executive order trump is signing today where he is basically going to direct ustr and the commerce department to examine all the significant bilateral trade deficits to determine what their causes are. then i guess that's going to provide him the ammunition he needs to go after the bilateral trade deficits, u

i just had to push one button wto join.s thing is crazy.s like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. fixodent plus adhesives. there's a denture adhesive that holds strong until evening. just one application gives you superior hold even at the end of the day fixodent. strong more like natural teeth. dagen: after last week's failure in repealing obamacare, republicans in washington are hoping they get a better outcome on their next priority, tax reform. and according to a new fox news poll, most americans are onboard with an overhaul. 55% of registered voters think they pay too much in taxes while 40% think that their tax bill is just about right. when asked if tax reform should happen this year, 73% said, yeah, while 21% said, no. so when do those 21% -- [laughter] of the people think is right, the right time to make changes, and who are

i just had to push one button wto join.s thing is crazy. it's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. fixodent plus adhesives. there's a denture adhesive that holds strong until evening. just one application gives you superior hold even at the end of the day fixodent. strong more like natural teeth. . >>> welcome back. president trump in a brand new interview says the u.s. is ready to go it alone on north korea seain saying, quote, if china is not going to solve north korea, we will. i want to bring in ryan nobles, cnn washington correspondent. so ryan, president obama -- i should say president trump is scheduled to meet with the president of china. does this set the tone in a more complicated manner? >> i don't know if it makes it more complicate, fredricka, but it certainly makes it clear where the white house stands on this partic

we arty have a wto case that is out there. we now have a foil case that has been put out there to be looked into by the itc. people in the aluminum industry, where is a maybe a year and a half ago said hey, look at up, we have these trade issues, "wow, we really got on the radar of the obama administration, we have trade cases, we are starting to see wins," so that is what you hear the question to wilbur ross --how does the wt a fold into this? the meantime, prices have risen, so is this all necessary now? joe: i do not know if it is necessary or not, but i do know that because things are going pretty well, a lot if people are wondering, ok, well is this overcapacity, still an issue? our great reporters and china have broken news in the past you must, specifically next week -- last week, and they are getting word that china is going to start cutting back on overcapacity, targeting and vermin to issues, -- environmental issues. the market reacted to that. that is why we are looking at the prices highest for aluminum years.t two

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if you look at, for example, the data from the wto, actually compelling evidence suggesting australiarkethare, and new zealand included, is staying remarkably stable, so that suggests chinese products stay competitive, but at the same time, i believe renminbi -denominated assets are extremely expensive, so if you look at real estate in sydney and melbourne, compared to beijing and shanghai, it is no comparison. urge foris this strong consumers to diversify. that is natural. that force in the medium-term will dominate the trade surplus. talking with our bloomberg intelligence analysts about this codependent relationship. if you look at this our chart on the bloomberg, we are off historic highs when it comes to the amount of trade the u.s. those with china as a portion of total trade, global trade, but still very high, 17% in 2016. who needs the other more? this point which i think is lost among trump supporters who want him to get tough on china, that is the part of the american consumer that will be missing out on these cheaper chinese goods come and that will have its own negative impact

united nations, which is this committee on migrant rights tries to familiar eight, so you have these wto's and the un organization affiliated, but you have the un pushing one way and then other organizations trying to protract migrant rights from the anti- immigrant sentiment that breaks out in countries. it's a bit different than the current discussion about trade, so when i think of what's been done by that food agricultural organization, they talk about important surges. again, this is not about the developed country, it's about the developing one, so they talk about when cotton was the barrier on cotton in india there was like 18000 suicides. these were cotton producers who couldn't make a living producing their cotton compared to the cost of the imported cotton, so the trait theory is elegant. it's reasonable, division of labor. people talk about it as though it came down from the mountain on the tablets with moses and my feeling is, it's a reasonable theory, but there is some negative externalities and the way i think about them is that they become social problems of nations and trag

i just had to push one button wto join.s thing is crazy.like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. and we'll see you monday. e-mack, facebook why do you like it. >> they're taking away from competitors like snapchat. >> bill, you like that? >> and only company thinking it could be great at anything. >> moody's, why do you like that. >> i want to know when the state of new jersey will file for bankruptcy. >> e-mack. >> it's got negative and debt, watch it for that. david: the number one business block continues with eric biology and cashin' in. >> the next generation would be justified in looking back at us and asking, what would you thinking? couldn't you hear what the scientists were saying? couldn't you hear what mother nature was screaming at you? >> that's a clip from al gore's new movie, truth to power, the sequel to "the inconveni

the order in any case was not produced by the unit much less by the use wto, was produced by the united states in the military and other alliances that led. the reason for itself has been made often let's not confuse these things. it's very different if the world is led based on america as opposed to collect the security base that is a challenge is being made to that tax what do we see? increase disorder islamic extremism claiming to thousands of lives every year. that tens of millions of people displaced from their homes. nuclear proliferation, another test tonight, luckily it didn't work. you don't need to support donald trump to know that there is something wrong here. you don't need to be a populist, you can do it as a classical liberal which is what i consider myself and recognize the biggest of classical liberalism is a set of globalization that undermined the foundation of a free society based on the rule of law and represented as government. so, the liberal international order spelt l i o. it is an l ie. it is not liberal nor truly international and it certainly is not orderly.

the wto tariffs would take over if there were no agreement on among the three countries.da can raise their tariffs higher than we can on their products. we are worse off in that sense, which raises the question of, does trump just ignore the wto, which could hurt the global trading system. joe: other than the fact that we rate a trade deficit with mexico and canada, we know specifically what they missed ration feels is unfair about the current trading regime? >> know because they have never really said. the present argues that lots of jobs have gone to the u.s. and mexico. some have, but most have been hit by automation or by china. a lot of research on that showing that many more jobs moved to china than to mexico. joe: mike mckee, bloomberg's international politics correspondent. scarlet: let's get a look at some great trading. biotech have, in the red. the new cholesterol drug, failing to gain traction. paypal up nearly 7% after sales beat analyst estimates. from new york, this is bloomberg. ♪ scarlet: i'm scarlet fu "what'd you miss?" many fractures in sweden feeling

ilin97 wto d aercalesis d o today byour cable or satellite provider. >> joining us representative marcy kaptur, a democrat from ohio, member of the appropriations committee, here to talk about matters of trade and u.s. manufacturing, good morning. how has mr. trump done so far on trade? guest: i don't think he has gotten into it so much yet. fromice president is indiana. these are big manufacturing states. them especially on the promise of a change in the federal government on jobs and trade. we are waiting. it is already the fourth month. one of the reasons i appreciate being on your program today is because i have a company that is immediately threatened and we president's attention in lorain, ohio. one in shuttered and another will likely be shuttered in june. the present needs to help us hold the production as the market recovers here at home. these companies are victims of dumping. coming by china, by korea, and by russia. host: any indication that the president would visit the company that you are talking about? guest: he has my warmest imitation. havers brown and portman joined m

and indian are governed by the wto rules, there's nothing in the action that we've taken that changes >> following up on what jim said, housing prices do in crease due to this what do you tell the average consumer in the united states if their price s are going up they didn't bargain for that? >> well i don't know what they bargained for but i'm sure nobody in the united states bargained for these people dumping product. it's no different whether you dump steeling or aluminum or cars or lumber or anything else. nobody has the -- >> and dumping their two different things. which is it dumping -- >> this is kindly duties. >> do you have a specific time line for when the president is going to announce its intentions to renegotiate nafta? >> we put the president on notice a few weeks ago with our attempt to renegotiate nafta. what's been installed is getting the trade promotion authority, the so-called fast track authority approved by the congress. now with bob having been confirmed out of the committee today, and hopefully coming to the senate for a full vote very shortly, that should cur

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less than a year ago the treasury estimated leaving the european union on wto terms would lead to a 7.5% fall in gdp. 45 billion lost of tax receipts. has the treasury updated those figures or do they still stand? if updated, can they be published? if not, what deal could be worse than those consequences of note deal, it would be a national failure of historic proportions if the prime minister comes back from brussels without having secured protection for jobs and living standards. we will use every parliamentary opportunity to assure this government is held to account at every stage of the negotiation. mister speaker, we all have an interest in ensuring the prime minister gets the best deal for this country, if they cut jobs, living standards, we do need full access to the single market. the states for exiting the eu agrees on this, stated in this house, the 24th of january the government plan is, quote, a comprehensive free-trade agreement and comprehensive customs agreement that will deliver the exact same benefit we have. that is what is in place. will the prime minister confirmed to

i just had to push one button wto join.s thing is crazy.t's like i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. john:. >> political operatives are trying every trick in the bloc to prevent african-americans from voting. john: and they are? blacks are being stopped? bernie sanders says african-american youth is especially back to my stand america ushered spend another trillion dollars to get them jobs and education. the there is any group that has a right to claim victimhood it is blacks after slavery the government forced segregation but kira davis says blackstone need special help. they don't? [laughter] >> shockingly we can take care of ourselves. black culture is probably one of the struggles cultures in america and there is a good case to re-read one of the purest forms of real american culture. black culture is pop culture john: you have ev

the potential of wto action on our part which would have been an embarrassment. i think the feds decided it was time. i thought for a long time it would be a chicken deal. they take our beef then we take their chicken. that turned out not to be the case. maybe that's what will happen this time. >> i would like to remind you on as wellthese exports financial sector investment, the stage is still unsubstantiated. citing both u.s. and chinese officials but i haven't seen it. >> he is not going there. we are moving on. this gentleman in the back. yes please? >> let me just ask a very basic question. how do you measure success? at least from the u.s. perspective one of the closest , correlation coefficients to trade is the economy softens the quote trade deficit goes down , and when the economy strengthens the trade deficit goes up. so if you are measuring a deficit in the economy slows which causes all sorts of political issues, the number should look pretty good and you can claim success with the bilateral relationship. or would it be smarter to focus on exports and

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i just had to push one button wto join.s thing is crazy.ke i'm in the office with you, even though i'm here. it's almost like the virtual reality of business communications. no, it's reality. introducing intuitive, one touch video calling from vonage. call now and get amazon chime at no additional cost. hey nicole. hey! i just wanted to thank your support team for walking me through my first options trade. we only do it for everyone gary. well, i feel pretty smart. well, we're all about educating people on options strategies. well, don't worry, i won't let this accomplishment go to my head. i'm still the same old gary. wait, you forgot your french dictionary. oh, mucho gracias. get help on options trading with thinkorswim, only at td ameritrade. >>> welcome back to "fast" -- i mean "options action." i'm dominic chu. as we close out the week, one of the things worth noting is what's happening with the treasury market. interest rates have been feeling heavy as of late with ten-year yields hovering around 2.4% after being as high as 2.61% just

very time that china is arguing it's a market economy, and that it's litigating the question in the wto against the eu, that it is also made a complaint against us because we don't treat them as a nonmarket economy. seems like trump may be asking them to do is a bunch of things that would prove they're a nonmarket economy and they may be reluctant to take those steps and argue in stead we ought to let normal macroeconomic policy run its court. that would suggest there's not going to be a near-term solution. >> we'll leave the discussion for a brief session of the u.s. senate. we'll be back to live coverage in just a moment. the presiding officer: the senate will come to order. the clerk will read a communication to the senate. the clerk: washington, d.c., april 10, 2017, to the senate under the provisions of rule 1 paragraph 3, i appoint deb fischerer to perform the duties of the chairs signed orrin g. hatch. president pro tempore. the presiding officer: the senate stands adjourned until senate stands adjourned until >> back now to the stimson center for a discussion of the u.s.-china r