i include wto. wto gave us china in its current form. they're considered in wto a developing nation. we put an end -- we let them know, we're not going to stand for that. we let the folks over at the world trade oranization know we're not going to stand for that. so think of it. china, india, these are all considered developing nations. we're not a developing nation. they have a big advantage over us. why didn't people come out strongly against that in past administrations? they should have. that's a tremendous advantage. we are not allowing that to p happen. maria: let me ask you -- >> we advised them we're not going to stand for that. maria: let me ask you about social media. you said many platforms censor conservative speech. >> i hate the concept of regulation on media. you talk about the world collusion, the collusion between the democrats and these people, it's ridiculous. it's hard to believe i won. if you think about it, i had facebook, google, twitter, everybody against me. i have the media's almost totally against me. and yet i

has concerns about the wto.inside the wto there is a process outside the wto that has to be processed that both sides agree upon. on bothis a problem sides of the atlantic. the brexit debate is ongoing behind me. we are expecting voting to start. indications are theresa may is likely to lose another vote this evening, potentially with catastrophic effects to her brexit strategy. we will provide you with plenty of coverage on that from bonnie vonnie andie -- myself. ♪ comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems. to knowing when and where there's an issue. beyond network complexity. to a zero-touch, one-box world. optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. ♪ david: welcome. i am david westin. guy johnson from london on brexit happening four hours from n

the wto takes no view on those things.se tariffs sort out all there were difficulties. but the government's position has been consistent. which is that we have to leave. we would much prefer to leave with an agreement, which is why the withdrawal agreements were presented to the house. but we do have to leave and if we can't agree with the eu, or if the house of commons can't vote on an agreement with the eu, then that we will be forced to leave without a deal and that is not the desired outcome. do you expect the withdrawal agreement to be put again before the commons? it's very difficult to say. the amendments coming forward over the next couple of days might make that difficult or indeed impossible. i felt co mforta ble indeed impossible. i felt comfortable with the withdrawal agreement, so from a personal point of view i would like to have the chance for the house of commons to recognise what is at risk through not voting for the withdrawal agreement, and what is at risk, my main concern, is brexit, which could be put

market thanks to the wto, but undermining the wto and going to bilateral negotiations out of a multilateralnegotiations is nuts. we did a lot of interviewing this summer with the carnegie endowment for international peace, another report on how the middle class in ohio feels about foreign policy, and there we got very strong answers and that was there is unanimity in the state that it is a problem that has to be dealt with. unanimity, state support has to be dealt with. also, not understanding why we then turn like a frightened dog and bite canada and mexico when the issue -- when it comes to trade issues with china. we have had manufacturers tell us flat out they don't mind taking a short-term pain to deal with china, but we are totally confused as to why the tariffs were against our best ally and trading partner. so that confusion is still there. host: again, our guest with the ohio state university joining us for this conversation. the phone lines on your screen. maryland, go ahead. caller: i could not get through on the independent line, so i called on this line. i was hung up on three

one of the worst deals ever made, and i do include wto. wto gave us china in its current form.y're considered a developing nation. we put an end, you know, we've let them know we're not going to stand for that. we let the folks over at the world trade organization know we're not going to stand for that. but, so think of it. china, india, these are all considered developing nations. we're not a developing nation. they have a big advantage over us. why didn't people come out strongly against that in past administrations? they should have. that's a tremendous advantage. we are not allowing that to happen. we've advised them that we are not going to stand for that. maria: still to come right here, more of my exclusive interview with president trump. conservatives have been censored on social media, could the president introduce regulation to fix it? his response to that coming up. don't go anywhere. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ of all the moments you share with your best friend, the greatest could be the moment you save her life. every second counts in cardiac arrest. learn hands-only cpr and b

mccan become a member of the wto without congress having to surrender its right to u.s. china trade review annually. there is no reason why we should permanently surrender that leverage at this time. i ask if her position had prevailed how different would things be right now? there are many other examples of bipartisan leadership, including a lot of people on this committee. i'm getting into them and answer the questions if it's relevant. let me close by saying that we have engaged in a very intense, extremely serious and very specific negotiation with china on crucial structural issues for several months now. we are making real progress. if we can complete this effort -- and again i say if -- and can reach a satisfactory solution to all -- to the all-important outstanding issue of enforce ability as well as some other concerns, we might be able to have an agreement that helps us turn the corner in our economic relationship with china. let me be clear. much still needs to be done. both before an agreement is reached and more importantly, after it is reached if one is rea

jake: a recognition that the wto is not addressing the fundamental issues of competition, whether it is state owned enterprises, currency, barriers behind borders, and we need to get together with like-minded partners to set new rules and give china a choice whether they want to come in or not. i think that is going to be a theme you hear from a number of candidates. walter: i certainly do think the idea of wto reform and the idea that the kind of rules of the road people devised in the early 1990's may not be adequate for a much more obligated world. jake: but if you try to do it by consensus at the wto, you are probably going to run into the same roadblocks they've been running into for years. so hold together the open market economies of the world in europe, asia, and the americas and say let's set rules that work for us and give china a choice. if you want to participate globally in the economy going forward, 60% of the world has set these new standards and you have to start reaching them. walter: something worth noting, that the wto negotiating process has really ground to a hal

here have ahose serious discussion on streamlining the wto? filings when we read through them a decade later and it's week has been made, what we do so we are not -- what do we do so we are not back having the same discussion into her three years? >> after the number of hearings i have done, whenever i think of the future, i think of you. you are always going to ask the question about the future. we all have a tendency to think of the here and now more than we should. one, having amber real enforcement process. issues, we will be resolving issues in ways that turn up new problems and trends and i think you have to be able to deal with that process and as i don'tried to say, believe this is going to solve all the problems between the united states and china. they are in a process of reform. headway, but i think there is a role for the international volleys -- bodies and i think the wto is part of that. the timeline, the ability to actualor is it the adjudication process itself? what can we do to help so we are not doing this all the time? all,

but we're doing even better with wto.s all of a sudden because we never won cases. now we're starting to win cases because they know my attitude, the if they don't treat us fairly, we get out. we're doing a good job. we finished up at 3.1 gdp, that hasn't been done in 14 years, maybe more than that, but 14 years. and i think we have tremendous momentum right now. and you're right, the world is slowing, but we're not slowing, and frankly, if we didn't have somebody that would raise interest rates and do quantitative tightening, we would have been at over 4 instead of a 3.1. maria: and the fed said this week, actually, signaling we're not going see any more rate hikes this year. do you think you influenced that decision? >> i hope i didn't, frankly, but it doesn't matter. i don't care if i influenced it. one thing, i was right. but we would have been over 4 if they didn't do all of the interest rate hikes. and they tightened. i said, what are we doing here? $50 billion a month. 3.1 a may be the best in 14 years, i'm not hap

if this goes forward, where's the wto? what role do they have to play in trade?dam: the wto idea is it is sufficient to make multilateral deals rather than bilateral deals. if you look at how bad nafta is versus gdp. it is better to make -- versus ttp. the wto continues to function as an important forum for talking about trade issues and a dispute settlement mechanism as we saw between china and the u.s. on agriculture. wto is howsue for much of this bilateral discussion of intellectual property between the u.s. and china becomes a broader regime. that could take place within the wto, that can take place with japan and europe joining the u.s., it is not clear where it goes from here. that is a lost opportunity by doing this bilaterally. alix: what do we learn from that about how the u.s. will deal with japan and europe and the u.k.? adam: it is the right question going forward. the lesson is -- the lesson trump will take is he is verified in his believe in bilateral deals. u.s. trade representative robert lighthizer continues to be distrustful of the wto due to a

fine, they've also made a lot of concessions when they joined the wto.he thing is, they make those concessions but do they adhere to them? you madewell, i think a very good point. do they adhere to them? i think they will adhere to them if it is in china's national interests to do some. intellectual property is an example. as you know, the united states emergingen it was an great power used to stale -- steal intellectual property from the british. aere comes a point in time in country's development when the united states began to produce and intellectual property the british and said ok, now we have a vested interest in protecting our intellectual property. china today is reaching that tipping point. for china is producing its own intellectual property in many areas and therefore, it is in china's national interest to protect intellectual property and they will be happy to go to the wto and get stronger rules because they will gain from those rules themselves. driven by their own national interests and not just by extractive man's. -- demands. of nationa

we could leave under wto.t? i have not lost brexit. icampaigned to lost brexit? i have not lost brexit. i campaigned to leave. the problem is, only 150 mps out of 650 actually believe in the project and want to leave the european union. the other 500 might say they accept the result but we will see that they don‘t today. the country will be absolutely devastated as far as democracy is concerned if mps take no deal off the table tonight and betray brexit. anyone who has negotiated anything knows that. that is likely to happen, so how will you get brexit? i think the prime minister has to take a lot of responsibility for that withdrawal agreement. she has been told repeatedly it will not go through. how will you get brexit? the prime minister needs to consider her position. you want the prime minister to resign? we need a prime minister to resign? we need a prime minister that believes in and delivers brexit. we need a general election. i think if the british people speak, and these are all recorded votes tonigh

first of all, this notion that we would just trade under wto rules, yes, there are wto rules but we alsoxist, our global engagement including, especially with the u.s., is a function of not only wto rules but a whole host of other agreements. my colleagues in london have been working very hard over the last couple of years to replace those agreements in areas like aviation, civil nuclear energy but there will still be disruption. as you say, maybe it's tolerable. i would just point out that i think the impact on the border in ireland would be significant and it is a shared ambition of both the british government and the irish government and the eu not to endanger the progress we have made under the peace process. so that's why the prime minister does not want a no-deal brexit but we have been putting in place a lot of contingency arrangements just in case it happens. but it is not our preferred option. ashley: a lot of calls for second referendum. the prime minister has been very clear, we have already had the people's vote. you agree? >> the government's position has been very, very cle

the president continues to hammer against the wto, alleging countries like china have taken advantage of it. david: thank you so much. guide -- guy johnson, let's go back to you. you mentioned talks coming out with a tepid of -- endorsements of this deal. the legal risk as i said it out on the 13th of november remains unchanged. the question for the house is whether in light of these improvements as a political judgment, the house should now enter into those arrangements? david: it seemed like members of parliament were hoping the lawyers would bail them out. is well as attorney general. he has passed the buck right back to theresa may and the politicians. absolutely. she was hoping what happened last night, the deal she struck with jean-claude juncker would be enough to convince the attorney general to change. it turned out not to be the case. mps are waiting for this advice, trying to figure out whether they would change their votes as to the way they voted last time. the dup, the northern irish party which supports the theresa may government has indicated it will not be voting for

k. con sense now we assume that the local content under wto rules will be 55% and i'm very pleased to say that with the launch of the new calls over the past two years we now exceed. 55% local content so we're ready for it and that's the benefit of the two years -- likewise we've done a lot of the better benefits solve all of all a weaker pound is used as a some some cash we could spend on marketing in the united states. and as a result of doing that the united states is now the largest market about oversee takes the pressure off off of the you to some extent so again. we're we're ready. miss martin ceo speaking to us earlier. as you can and it is trading action now the major european indices closed hihigher for the one hundred outperformed in london it was pushed in parart y vodadafone. which saw its shares up 2% water it's been hovering around the flat line throughout the trading day as sure as the retailer target are up nearly 5%. on stronger than expected sales figures general electric shares meanwhile have slumped 5% as its ceo warned investors to expect negative cash flow for th

iam not relationships and we revert to wto... i am not sure relationships and we revert to wto. .., that is what it comes down to, it is what we are into now and what we saw last night is effectively parliamentary temper tantrums. as your other guests alluded to commit the motion last night was not bounding. what has to happen now for mp5 who want to stop brexit, and that is what they want to do and they had to break cover after paying lip service to fulfilling what was the mandate delivered by the people in the referendum, and what we saw last night was effectively a temper tantrum. what they have nowt to do to overturn brexit is to pass legislation to do so. and from reading through various comments here and everywhere, i think the british people are disgusted with their parliamentarians. this text says, we were never going to leave and we won't. linda says, the people wa nt to and we won't. linda says, the people want to leave, so let's leave, please stop using the term brexit as this does not explain remain or leave. i now want to leave without a deal on the 29. jill says, ther

in fact china spent nearly 20 years taking advantage of its wto membership, manipulating the rules in favor and not behaving the way we expected. president trump says we're not going to accept that any more. the tariffs are a token about how we feel about it and i think it's brought china to the table in potentially very serious talks. lou: ambassador, turning to this hemisphere and particularly venezuela, juan guaido, the opposition leader back now more than 24 hours in venezuela. how concerned are you for his safety? how concerned are you for the improvement for the veb venezuea people? >> his return was significant. there wowz no effort by the military to arrest him because maduro and his gang felt if they had tried to arrest him the military may have disobayed the order. and that would have be a crisis for maduro. the effect of our economic sanctions is still digging and i can tell you i've just come from a meeting of the national security council principle prins committee. we're looking at new sanctions to tighten our grip on maduro's wherewithal, to deny his regime the money the

i have everything crossed and i hope we do leave on that day with a wto deal, but there is a very real risk that because of the sheer awfulness of a withdrawal agreement that we may find that our political class actually choose willfully to delay our departure date. greatest act we have ever seen in our nation. and i don't know what is going to happen, but i worry that will happen, so what i have been doing is i have been getting ready. i have been getting fit. if they do betray this result, if they force us to fight future elections and maybe even another referendum, they will do so thinking they can overturn the will of the people. but i've got news for them. if they think, by forcing us to vote again, they will get the results they want, they got two problems. theof them is reasonableness and decent mess of british people, and the is they will have me to deal with again. yes. yes. [applause] >> i will tell you what -- [laughter] what, the last time i burst onto the national political scene, they hated it. if i have to come back and do this again, if i have to come back and win this

vonnie: does europe find itself alone in the wto, not alone obviously, but the biggest inyer in the wtolso these unilateral trade agreements, in say five or 10 years, that will make it difficult for europe to, you know, to be part of trading agreements? frederique: we do not see it like that. if you look auto experts, go back to the issue, there is a large portion of cars already manufactured in mexico come in the u.s., and -- in mexico, in the u.s. and in canada. guy: one final quick question, investors underinvested in china right now? frederique: that is difficult to say. probably more of a neutral view inchina, neutral weight china rather than underweight. we see difficult prospects for china in the short-term, so we know that there is a slow down. and a lot of earnings are being downgraded at the moment with valuations really not so attractive, so more of a neutral positioning from our point of view. guy: it is good to see you. thank you very much. frederique carrier from rbc wealth management. thank you very much indeed. vonnie: now first word news. mark: a team of u.s. aviation e

trade organization, the line was -- that china's behavior will change because they're now part of the wto that has not happened, in fact, china spent nearly 20 years taking advantage of its wto membership manipulating rules in its favor and not behaving way we expected. president trump said we're just simply not going to accept that anymore. the tariffs are token of how we feel about it, and a it's i think has brought china to the table in potentially very serious talks. >> and ambassador turning to this sphere and venges la, juan, opposition leader backed now 24 hours and venezuela, how concerned are use for his safety? how concerned are you for the -- for the improvement of -- for the people? >> i think effort i think no military because maduro and his gang feel if they try to arrest him the military might have dis obeyed order and that really would have been a crisis for maduro. popular support for gad dps uo offensive and i can it will you i've come from a meeting of the national security counsel, principles committee we're looking at new sanctions, new measures -- to tighten our grip

has lost a wto complaint in the last few days which makes it seem like the u.s.s deadly serious about the complaints. s are fairly easy to measure but the thing that the u.s. cares most about, lighthizer in particular is dogged about this, are the things that are harder to measure, protection of intellectual property. on oris no lights which, off, when it comes to intellectual property. it is trench warfare. did they protect this piece of intellectual property, that piece? china has repeatedly, over many years, made commitment to protect intellectual property. the u.s. is saying it has not gone far enough. that is why they want to see clear evidence before they make any concessions on the u.s. side. vonnie: i should mention that wto complaint was about india duty free onffs, 29 imports from the u.s. our thanks to peter coy. you can hear from more of the magazine's editors and reporters every saturday and sunday on bloomberg television and radio. still ahead, apple unveiling its new focus on services and subscriptions. more about what is being said on stage. this

you have heardjim explain leaving to wto terms next friday.ma is that mps who voted against her deal for other reasons will now face if that is the binary choice. i believe she absolutely means that anti—has been clear that she wants to get us out of the european union on the 29th of march. —— she has been clear. she only said it 108 times! that how disastrous would it be if we had no—deal? disastrous would it be if we had no-deal? but if you are supporting the prime minister's agreement, you are going to have to dump on no—deal because it would be dreadful. the remainers, no—deal is not an option, and we have had this discussion. we get into the detail of what it means to move to wto terms and actually a lot of work has been done to prepare for it and it will be perfectly well managed. there will be difficulties but in terms of the scale of the anxiety that has been brought up around it, we can see that drift away to nothing. we have plenty of time to talk this morning but i want to go back to her comments last night. how do you react, philip

the news is positive because other people think it should go through the wto. go this way. this started before the trump administration was -- we were accusing them of supporting essentially their farmers more than you're allowed to support them, believe it or not. you are allowed to do that with farmers. we do that here too. bottom line is, this is an issue. looks like we should go the direction of wto and not having more power but we need more power to stop the other extraction of i.p. and other problems that go on with china. tracee: thank you for joining us this morning. lauren: the u.s. economy continued to expand in the fourth quarter, rising 2.6%. for all of last year, 2.9%. can the growth continue without a formal trade deal with china and also potential decline in first quarter earnings? let's bring in and say good morning to francis stacy. good morning, francis. >> good morning, how are you. lauren: very good. your take-away from the gdp report we got yesterday and if there's a disconnect between what the march he get is doing around what the -- marke

market, the undermining the wto and going into bilateral -- tiations are we got strong answers. there is unanimity in the state problemt support is a to be dealt with. not understanding why we then turn like a frightened dog and fight canada and mexico when it comes to trade issues with china? manufacturers tell us -- we had manufacturers tell us they don't mind taking a shortcut with china. but they are confused as to why the tariffs or against our best trading policies --trading partners. host: the phone lines are on your screen. maryland, you are on with professor ed hill. caller: i cannot give through on line.dependent i was hung up on three times. host: you are online now. caller: i'm telling you about your technical issues. i agree, we need to stand up to china, but we are doing things that are hurting our farmers, and the cannot do that. their lives are already hard enough. host: the former aspect of this, professor? farmers andd the how they were being affected by trade. any comment on that? guest: the second-largest industry affected in ohio is the farming industry. our

to reform but nothing can happen until the white house decides they want to be more positive towards wto and it's not looking very positive right now. >> the recipe is not throwing out the baby with the back water. it's not getting rid of dispute mechanisms and it is improving them. if you weaken dispute mechanisms what do countries investing have in terms of local certainty and the freedom they can do if they face hiccups. >> so we see these economic relationships straying or at least strained. what are the implications for national security? >> they're enormous. trade policy is defense policy. and it's a setting of an alliance because of trade helps our relationship with vietnam and other places. the philippines is a great example. we are losing negotiations with philippines partly because china set up illegal island but partly because we are withdrawing. that's an enormous blunder nobody has explained the president but maybe the people he hired did not get it. i don't think this is the end of global ism i think you see the shifting of alliances. the trouble of the united states will c

ta riffs. investment than three to five to 7% wto tariffs.to the referendum, actually said in front of the treasury committee. so i would suggest to the house that scare stories, that somehow we are all heading for doom and gloom, that goods will no longer transverse customs unions, trading blocs around the world, they already do that, is very wide of the mark. let‘s base this discussion, they spoke tonight on economic reality, and as a few on the opposite benches, particularly the opposite benches, particularly the snp, don‘t like to admit it, actually we are doing rather well economically, and those decisions have been based on the possibility of us very much leaving on no deal terms. so i would appeal, mr speaker, given your guidance as to timings, iwill speaker, given your guidance as to timings, i will bring my comments to a close but what i would suggest is i appeal to the house for rational consideration with regards to no deal. i know there are a lot of scare stories out there but this is a repeat of 2016. there is scare stories were