TUESDAY MORNING, FIRST, TOP
STORY THIS HALF AN HOUR U.S.
AND CHINA TRADE TRUCE, MOMENTS
ON ANNING I SPOKE WITH
TREASURY SECRETARY STEPHEN
MNUCHIN HERE IS WHAT HE SAID
ABOUT THE DEAL TO POSTPONE
TARIFFS 90 DAYS.
>> NOT ABOUT MAKING
COMMITMENTS FOR THINGS
PIE-IN-THE-SKY NEXT TWO OR
THREE YEARS OUR EXPECTATION IS
THAT THERE WILL BE SPECIFIC
DELIVERABLES SPECIFIC TIME
LINES, THAT WE HAVE AN
AGREEMENT THAT THERE WILL BE
PENALTIES IF CHINA DOES NOT
MEET THOSE TIME LINES, IN
THOSE COMMITMENTS.
>> AND THE PENALTIES BEING
WHAT?
TARIFFS TO GO BACK IN PLACE.
>> TARIFFS BUT WITHOUT --
WITHOUT RECIPROCAL TARIFFS YOU
KNOW ATTACKING US.
>> JOINING ME RIGHT NOW CEO OF
SIEMENS JOE DAY
SIEMENS JOE KAY
SIEMENS JOE KAESER THANK YOU
FOR BEING HERE YOU HAVE A HUGE
BUSINESS IN CHINA IS YOUR
SECOND LARGEST MARKET FOR
SIEMENS WHAT IS YOUR REACTION
TO WHAT IS TAKING PLACE
BETWEEN U.S. AND CHINA AND NOW
WITH 90 DAY TRUCE?
>> WELL I THINK IT GOES INTO
RIGHT DIRECTION.
SO TO TALK TO EACH OTHER KNOW
ABOUT EACH OTHER IF YOU LOOK
FOR SOLUTIONS, SO I BELIEVE
THE RIGHT WAY, WE NEED TO SEE,
WHAT IS GOING TO COME OUT IN
TERMS WHAT EXACTLY, AND
BENEFICIAL BUT GOOD.
>> THE PRESIDENT HAS ALREADY
PUT TARIFFS ON CHINESE IMPORTS
COMING INTO THE COUNTRY.
CHINA RETALIATED WHAT IMPACT
HAS IT HAD ON YOUR BUSINESS.
>> FIRST OF ALL, NOT VERY
MUCH, HONESTLY WE ARE VERY
LOCALIZED 35,000 PEOPLE IN
CHINA, WE HAVE MORE THAN
60,000 PEOPLE WORKING HERE IN
THE UNITED STATES.
>> BIGGEST MARKET BY FAR TWICE
AS BIG AS CHINA TWICE AS BIG
AS GERMANY SO WE REALLY LIKE,
YOU KNOW WHEN UNITED STATES
AND CHINA COME TO TERMS, ON
GLOBAL TRADE SORT OF TRY TO
FIND A LITTLE PLAYING FIELD SO
BEST TEAMS BEST COMPANIES ARE
ABLE TO WIN OVER CUSTOMERS.
>> WHEN YOU WENT TO CHINA
ABOUT INITIALLY WERE YOU
FORCED TO TRANSFER TECHNOLOGY
SOME SECRETS TO CHINESE
COUNTERPARTS?
>> NO.
WE WERE NOT FORCED TO DO THAT
BUT AS NATURAL EFFECT TO SEE
IF YOU ARE LOCALIZE YOUR
BUSINESS YOU HAVE LOCAL PEOPLE
JOIN YOU HELP YOU PUT PRODUCE
PRODUCTS SOLUTIONS, SO WHAT
YOU NATURALLY SEE NOT SO MUCH
ABOUT STEALING, IT MANY
BELIEVE STEALING SO BAD WHAT
YOU ARE LOSE THE MOST
KNOWLEDGE FROM, IS THAT YOU
LOSE YOUR PEOPLE, THEY GO
OTHER PLACES, OBVIOUSLY CANNOT
BRAINWASH THEM WHEN THEY LEAVE
COMPANY THEY TAKE KNOWLEDGE
EXPERIENCE OF A WORLD CLASS
COMPANY WITH THEM APPLY THEM
IN THE NEXT JOB SO THAT IS
REALLY WHAT IS AT STAKE FOR
THE MOST PART.
>> NOT SO MUCH ABOUT IPR,
STEALING IT IS WITH TURNOVER
OF PEOPLE, THAT YOU HAVE AND
THEY TAKE THE KNOWLEDGE WITH
THEM.
>> YOU'VE GOT OPERATIONS ALL
OVER THE WORLD I WANT YOUR
TAKE ON GROWTH WE'VE GOT THE
NOVEMBER JOBS' REPORT, COMING
OUT THIS FRIDAY, SIEMENS HAD
YOU JUST SAID 60,000 EMPLOYEES
IN THE UNITED STATES.
>> ALMOST.
>> OVER 350,000 GLOBALLY, WHAT
IS YOUR TAKE ON GROWTH TODAY?
WHERE DO YOU SEE THE MOST
GROWTH FOR YOUR BUSINESS
ACROSS THE WORLD?
>> I DON'T THINK WE ARE IN
INFRASTRUCTURE BUSINESS -- OUR
GENERATION, INFRASTRUCTURE,
YOU AUTOMAKERS HEALTH CARE
RENEWABLE POCKETS OF GROWTH IN
TERMS OF RESULTS REKNEW BLS,
HEALTH CARE, MANUFACTURING
AUTOMATION I THINK THE
SECRETARY MENTIONED WHAT CAN
COMPANIES DO TO INNOVATE MORE
ATTRACTIVE WHAT WE HELP THEM
DO.
>> YOU MADE CHANGES IN TERMS
OF WIND PAIR BUSINESS
OBVIOUSLY IN TERMS OF
CONSOLIDATION, IN TERMS OF
TRYING TO GET GROWTH OUT OF
THAT BUSINESS.
>> WELL, WE DO -- THE FUTURE,
WHETHER WE LIKE IT OR NOT
CLIMATE CHANGE HAPPENS, EVERY
DAY.
SO THEREFORE WE NEED TO SEE
HOW WE CAN MAKE RENEWABLE
ENERGY ALSO ECONOMICALLY ABOUT
FEASIBLE MUCH AS GREAT TOKEN
FOR -- CO2 EMISSION TRY TO DO
THAT COMBINING COMPANIES, TO
BE ON THE FOR IN FRONT OF
CONSOLIDATION.
AND SIEMENS COMPANY NEW
ENERGIES THAT IS A BIGGEST
ENERGY IN THE WORLD.
>> WHAT ABOUT GEOGRAPHICS,
>> WHAT ABOUT GEOGRAPHIC.,
>> 3% GROWTH IN UNITED STATES
EUROPE TROUBLED ABOUT
UNCERTAINTY OF REGS ITALY
BUDGET ISSUES CHARACTERIZE THE
GROWTH IN EUROPE.
>> EUROPE STILL YOU KNOW HAS A
LOT OF BIG OPPORTUNITIES IN
TERMS OF TALKING TO CUSTOMERS.
THE POLITICAL SAYING
THE POLITICAL SITING
THE POLITICAL SITUAG
THE POLITICAL SITUATION HAS
BECOME QUITE -- QUITE
DIFFICULT BECAUSE EUROPE IN
ABSENCE OF A JOINT FOREIGN
ECONOMIC POLICY IN MIDDLE
BETWEEN SUPERPOWER HOUSES
UNITED STATES AND CHINA, SO
THEY LOOK AT -- EAST WEST,
AND, YOU KNOW, WITH THEMSELVES
THAT I BELIEVE NEEDS TO BE --
NEEDS TO BE CHANGED, WE NEED
TO HAVE A UNIFIED EUROPEAN
FOREIGN ECONOMIC POLICY SO
THAT THERE IS A UNIFIED
APPROACH ON MULTILATERAL AND
BILATERAL GRADE AGREEMENTS.
>> DOESN'T IT GET WORSE IF WE
SEE BRITAIN CARRY OUT ITS EXIT
FROM THE EUROPEAN UNION AND
OTHERS PERHAPS, YOU KNOW,
THINK ABOUT FOLLOWING SUIT?
>> WELL I THINK THE QUESTION
IS I WOULD ASK MYSELF HALF THE
POLITICAL AND ECONOMIC
LEADERSHIP IN EUROPE YOU KNOW,
TAKING RESPONSIBILITY TO STAND
UP AND SHOW PEOPLE IF WAY.
OR HAS IT JUST BEEN SITTING
THERE AND WAITING TILL A
MAJORITY OF PEOPLE HAVE BEEN
VOTING OUT OF THE EUROPEAN
UNION.
SO I BELIEVE WHAT HAPPENS IN
EUROPE TODAY IS A MESSAGE TO
THE EUROPEAN LEADERSHIP BOTH
IN THE POLITICAL AND ECONOMIC
SIDE, TO TAKE CHARGE AND
RESPONSIBILITY AND BRING
EUROPE TO WHERE IT ACTUALLY
BELONGINGS AS THIRD SUPERPOWER
IN THE WORLD, YOU KNOW,
BESIDES UNITED STATES OF
AMERICA AND CHINA, AND TO A
BETTER WORLD.
>> WOULD YOU BE MORE POISED TO
EXPAND OR BUILD OUT YOUR
BUSINESSES IN THE U.S. BECAUSE
OF THE STABILITY OR WOULD YOU
BE MORE POISED TO LOOK
ELSEWHERE PERHAPS EVEN EUROPE
DESPITE TROUBLES.
>> I AM FACTORS WHAT TO LOOK
AT FIRST OF ALL, YOU LOOK AT
DEMAND, WE HAVE -- DEMAND
HAPPEN DEMAND COULD HAPPEN ON
CUSTOMER, NOT SO MUCH
GOVERNMENT.
GOVERNMENT SET FRAMEWORK, AND
THE UNITED STATES IT HAS BEEN
SPENDING MORE THAN 40 BILLION
U.S. DOLLARS, ON INVESTING IN
THE LAST 10 YEARS IN THIS
COUNTRY.
WE WOULDN'T DO THAT IF WE
DIDN'T THINK IT IS A GREAT
PLACE TO BE AT.
SO THAT IS WHY YOU KNOW, THE
UNITED STATES OF AMERICA HAS
ALWAYS BEEN A GREAT PLACE
GREAT IN INNOVATION IN TERMS
OF SOFTWARE MORE THAN WAYS OF
MANUFACTURING THE INTERNET OF
THINGS YOU KNOW, SHOULD
ACTUALLY START HAPPENING HERE
AND NOT IN CHINA.
CHINA HAS GOT -- 3 BILLION
PEOPLE YOU CAN'T DENY THAT,
YOU KNOW 1.3 BILLION PEOPLE IS
1.3 BILLION TIMES PURCHASING
POWER OF ANY OTHER COUNTRY.
>> RIGHT.
>> SO THAT IS WHAT WE LOOK
ABOUT AT WE LOOK AT FRAMEWORK,
BEING LOOKED WHAT FRAMEWORK
LOOKS LIKE FROM THE
GOVERNMENTAL SIDE.
I MEAN WHAT UNITED STATES HAS
DONE WAS A TAX REFORM AIMING
AT CREATING JOBS HAS BEEN
GREAT THING SEEMS IT PAYS OFF.
YOU KNOW, IF TAX REFORMS ONLY
COME TO INCREASE -- THE
COMPANIES DOESN'T DO ANY GOOD
NOT REALLY WHAT IT SHOULD BE,
YOU CREATE JOBS CREATING JOBS
CREATES GROWTH GROWTH CREATES
MORE TAX INCOME TO FINALLY
COMPENSATE FOR YOU KNOW, FOR
THE PEOPLE THAT IS HOW WE LOOK
AT IT.