WORDED THAT.
WE WOULD LIKE CANADA A PART OF
DEAL.
WOULD BE A PITY IF WE DON'T.
EDWARD LAWRENCE, THANK YOU VERY
MUCH.
>>> PRESIDENT CARTER WITH ME A
NEIL: HE MENTIONS THAT A LOT.
THINKS THEY'RE VERY IMPORTANT.
WHAT DO YOU THINK?
>> MARKETS WERE VERY IMPORTANT
TO ME BECAUSE I THOUGHT THE
HAVING A FAIR AND EQUITABLE
RELATIONSHIP WITH AS MANY
COUNTRIES AROUND THE WORLD AS WE
POSSIBLY COULD, FRIENDSHIP WITH
THEM AND MAXIMUM FAVOR WITH THEM
WAS GOOD FOR AMERICA IN THE LONG
TERM AND GOOD FOR INDIVIDUAL
AMERICANS AS WELL.
NEIL: SO IF WE HAVE A DEAL WITH
MEXICO AND CANADA HAS TO WAIT,
WHAT WILL THE MARKETS DO WITH
THAT AND DOES THE PRESIDENT OWN
THE SAME MARKETS IF THEY GO
SOUTH?
YOU KNOW THE DRILL HERE.
BUSINESS'S KRISTINA
BUILDING NOTION ON THIS THAT THE
PRESIDENT HAS TO MOVE CAREFULLY
HERE.
WHAT DO YOU THINK?
UNCERTAINTY.
OF THE PRESIDENT TRUMP
THREATENED TO BLOW UP NAFTA.
PEOPLE ARE HAPPY IT IS NOT BLOWN
UP.
BECAUSE THEY ARE HAPPY ABOUT
THAT BECAUSE THEY WOULD ACCEPT
SOME PARTS OF THAT THAT THEY
WOULD NOT ACCEPT IN PRINCIPLE.
FOR EXAMPLE, THE NEW FIGURES FOR
THE MESSAGE OF DOMESTIC CONTENT
FOR A CAR.
I DON'T REALLY LIKED PLANNINGED
PART OF THE DEAL.
THE EDITORIAL SAYS THIS IS WORSE
THAN WHAT WE HAVE?
>> LOOK IN EUROPE THE PRESIDENT
IS PURSUING THE POLICY RIGHT ONE
ON CARS.
OUR IDEAL WORLD THEY HAVE ZERO
TARIFFS ON OUR STUFF AND THEY
HAVE ZERO TARIFFS ON THEIR
STUFF.
IN MEXICO IT SEEMS TO BE A
FOR MANAGED TRADE.
WE'RE NOT MANAGED TRADE FOLKS.
NEIL: RIGHT?
YOU DISAGREE?
NEIL: McGURN.
>> NO REALLY, THERE IS SOMETHING
GOING ON IT WAS ALREADY A
MANAGED DEAL, NAFTA.
SO, IF IT IS MANAGED AT 62.5% OF
PARTS, AUTOMOBILES BEING
ASSEMBLED IN NORTH AMERICA, SOME
PEOPLE THINKS 75% MEANS MORE
OPPORTUNITIES FOR AMERICAN
WORKERS TO GET A JOB.
THE INITIAL REACTION YESTERDAY,
ONE OF THE BEST REFORMING GROUP
IN THE MARKET WERE AUTO PARTS
5%.
THE MARKETS SEEMED TO LIKE IT
YESTERDAY.
I THINK THE AMERICAN WORKER WILL
LIKE IT.
I THINK THOSE PEOPLE ARE WORRIED
ABOUT FLIGHT BECAUSE OF FOR
HELPS MEXICO, BUT AGAIN, THESE
MECHANISMS WERE ALREADY IN
PLACE.
SO I THINK IF YOU'RE DEALING
WHAT TRUMP WAS DEALT, TO BILL'S
POINT, IF HE WANTED TO DRIVE A
HARDER DEAL AND BLOW THIS WHOLE
THING UP, WE COULD HAVE BEEN
TALKING ABOUT SOMETHING THAT
ALWAYS TALK SEEMS LIKE THEY'RE
TALKING ABOUT CORPORATE PROFIT
MARGINS WHEN THEY PUSH BACK.
GALLUP SURVEY, 18 TO
29-YEAR-OLDS REJECTING
CAPITALISM.
YOUNG ADULTS IN AMERICA ARE
REJECTING CAPITALISM BECAUSE OF
THIS KIND OF STUFF.
>> I MAY INTERJECT THIS DEAL
BEING DONE.
IT HAS TO GO THROUGH CONGRESS
FOR 90 DAYS.
CANADA HAS PAR MEN TERRI
PROCESS.
I DON'T THINK THEY WILL BE ON
BOARD WITH THIS.
NEIL: YOU DON'T THINK CANADA
WILL BE ON BOARD?
>> I THINK THEY HAVE TIME.
SAYING THAT NO DEAL IS BETTER
THAN A BAD DEAL.
SO THEY'RE NOT GOING TO RUSH --
NEIL: HE IS IS NOT GOING TO BE
BULLIED INTO THIS?
>> THAT IS THE WHOLE VIEW.
HIS IMAGE IS AT STAKE RIGHT NOW.
ALREADY THERE IS CONTENTION --
CANADA.
THAT IS BEING VERY VISIBLE.
YOU HAVE 90 DAYS TO GO THROUGH
CONGRESS.
DEADLINE FOR CANADA TO JOIN.
HOWEVER THE UNITED STATES IS
PUSHING RIGHT NOW, AND MEXICO SO
SAY OFFICIALLY THIS DEAL IS DONE
BY THIS WEEK.
WHY?
YOU HAVE MIDTERMS.
YOU HAVE THE SWITCHOVER OF THE
NEW PRESIDENT IN MEXICO.
I THINK TIMING FOR THEM IS
REALLY IMPORTANT.
TO SAY IT IS A DONE DEAL AND IT
IS A WIN.
HOWEVER NAFTA WILL STILL BE IN
FULL FORCE FOR THE NEXT SIX
>> I GO BACK TO THE ORIGINAL
POINT.
YES, NAFTA WAS A BAD, NOT A BAD
DEAL BUT I THINK IT HAD A LOT OF
MANAGED PARTS THAT WERE NOT
GOOD.
I THINK ANSWER TO GO IN THE GOOD
LOOK, IF I WERE THE PRESIDENT
FROM HIS POINT OF VIEW, NOT FROM
MY POINT OF VIEW, HE DOESN'T
LIKE MULTILATERAL AGREEMENTS.
HE LIKES BILATERALS.
HE SHOULD HAVE GONE TO BRITAIN
WHICH NEEDS A DEAL BECAUSE OF
"BREXIT," TO SAY, WE'LL HAVE THE
CLEANEST DEAL WITH ZERO TARIFFS.
THEIR ECONOMY AND OURS IS KIND
OF EASIEST TO DO, COME UP WITH
AT CLEANEST TRADE DEAL YOU CAN.
THIS IS OPEN TO ANY OTHER
THE WORKERS, LET'S BE CLEAR,
THIS HELPS SOME WORKERS MAYBE IN
THE CAR INDUSTRIES BUT RAISES
PRICES FOR OTHER WORKERS, RIGHT?
THE DEFINITION OF A GOOD
COMPANY, BY DEFINITION IS ALMOST
ONE THAT IS COMPETITIVE IN THE
MARKET.
OKAY WITH THAT, RIGHT?
>> YOU KNOW, DURING THIS WHOLE
SAGA WE SAW PEOPLE, WE'VE DONE
REPORTS FROM THE NAIL COMPANY
MILLION AMERICANS WHO THINK THEY
LOST THEIR JOB TO TRADE AND
MAYBE THEIR KID WHO IS HOOKED ON
PEOPLE VOTING FOR TRUMP THAT HE
WOULD HOPE HE WOULD TRY TO
RESOLVE THREW THESE KIND OF
>> I THINK IT HELPS.
THERE IS NO MAGIC BULLET.
THESE ARE COMPLICATED
MULTIBILLION DOLLAR TRADE DEALS
THAT HAVE BEEN IN PLACE.
24 YEARS.
WORLD TRADE ORGANIZATION,
GENERAL AGREEMENT ON TARIFFS AND
TRADE FROM 1948.
THEY'RE ALL ANTIQUATED.
THEY NEED TO BE TUNED UP.
>> I AGREE.
YOU'RE BRINGING UP ZERO TARIFFS
IS THE ULTIMATE GOAL, BUT GIVEN
OUR SOCIETY ACROSS THE GLOBE AND
MOVING TOWARDS NATIONAL LISTTIC
COUNTRIES, PATRIOTISM, HOW WILL
WE EVER ACHIEVE ZERO TARIFFS?
>> I THINK IT SHOULD BE THE
GOAL.
>> WE HAVE SUBSIDIES.
>> MY ANSWER, DON'T INCREASE
SUBSIDIES.
>> WE JUST DID IN THE UNITED
STATES RECENTLY TO OFFSET THE
TARIFF.
>> IT IS NOT GOOD.
>> IF THERE IS SOMETHING THAT
YOU REGARD AS INCORRECT OR
INCOMPLETE, IT SEEMS TO ME THE
PRESIDENT CLAIMS TO HAVE IN
EUROPE.
AND WE HAVE A DIFFERENT GOAL
YOU SAID OIL COMPANIES, THESE
OTHER COMPANIES, THEY LOVE THIS
STUFF.
IT IS PROTECTION.
IT REDUCES THE COMPETITION.
NEIL: BUT AVERAGE WORKER WILL
SEE HIS OR HER WAGE GO UP?
>> MAYBE NOT THE AVERAGE WORKER,
SOME WORKERS IN SOME PROTECTED
INDUSTRIES WILL.
OTHER WORKERS WILL PAY MORE OUT
OF THEIR PAYCHECKS BECAUSE OF
THAT.
>> WE HAD 400,000 NEW
MANUFACTURING JOBS SINCE TRUMP
NUMBER ABOUT, HIGHEST SINCE
OCTOBER OF 2000.
YOU KNOW, THE OTHER PART OF THIS
LEAST, THOSE IN THE HEARTLAND
WILL SAY, BEFORE WE DO THE
CHICKEN AND EGG THING, GIVE ME A
SOCIETY, WE'RE NOT EVEN BUYING
CHEAP CARS, RIGHT?
WE DO A SEGMENT NEXT ON THE
DEATH OF THE AUTOMOBILE IN THE
UNITED STATES.
WE'RE BUYING EXPENSIVE SUVs
AND EXPENSIVE CROSSOVERS BECAUSE
PROSPERITY IS BACK.
EQUATION, PRICES YOU JUST
BROUGHT UP, IF THIS DEAL GOES
THROUGH WE HAVE TO BUY MORE U.S.
THAT INEVITABLY WILL INCREASE
STEEL PRODUCT.
>> LET'S NOT FORGET, IT WILL
TAKE A WHILE TO COME ON LINE.
WORLD WAR II.
WE COULD HAVE A WAR WITH CHINA
10 OR 15 YEARS.
PEOPLE SAY HEY WE COULD GET THE
ALUMINUM AND STEEL FROM CANADA?
WHEN WE NEED TO BUILD WARPLANES