字幕列表 影片播放 列印英文字幕 >> TODAY WE TAKE A MOMENTOUS >> TODAY WE TAKE A MOMENTOUS STEP, ONE THAT HAS NEVER BEEN STEP, ONE THAT HAS NEVER BEEN TAKEN BEFORE WITH CHINA TOWARD A TAKEN BEFORE WITH CHINA TOWARD A FUTURE OF FAIR AND RECIPROCAL FUTURE OF FAIR AND RECIPROCAL TRADE AS WE SIGN PHASE 1 OF THE TRADE AS WE SIGN PHASE 1 OF THE HISTORIC TRADE DEAL BETWEEN THE HISTORIC TRADE DEAL BETWEEN THE UNITED STATES AND CHINA. UNITED STATES AND CHINA. TOGETHER WE ARE WRITING THE TOGETHER WE ARE WRITING THE WRONGS OF THE PAST AND ECONOMIC WRONGS OF THE PAST AND ECONOMIC JUSTICE AND SECURITY FOR JUSTICE AND SECURITY FOR AMERICAN WORKERS, FARMERS AND AMERICAN WORKERS, FARMERS AND FAMILIES. FAMILIES. PAUL: PRESIDENT TRUMP SIGNING PAUL: PRESIDENT TRUMP SIGNING PHASE 1 TRADE AGREEMENT WITH PHASE 1 TRADE AGREEMENT WITH CHINA ON WEDNESDAY CALLING IT A CHINA ON WEDNESDAY CALLING IT A VICTORY FOR AMERICAN WORKERS, VICTORY FOR AMERICAN WORKERS, FARMERS AND FAMILIES, THE TRADE FARMERS AND FAMILIES, THE TRADE TRUCE WITH BEIJING COMES AFTER TRUCE WITH BEIJING COMES AFTER 2-YEAR TARIFF CAMPAIGN THAT 2-YEAR TARIFF CAMPAIGN THAT IMPOSED SIGNIFICANT ECONOMIC IMPOSED SIGNIFICANT ECONOMIC COST ON BOTH COUNTRIES AND AS COST ON BOTH COUNTRIES AND AS SENATE TOOK UP ANOTHER TRADE SENATE TOOK UP ANOTHER TRADE AGREEMENT THURSDAY WITH A AGREEMENT THURSDAY WITH A BIPARTISAN MAJORITY VOTE TO GO BIPARTISAN MAJORITY VOTE TO GO SEND THE LONG-AWAITED USMCA TO SEND THE LONG-AWAITED USMCA TO PRESIDENT TRUMP'S DESK TO PRESIDENT TRUMP'S DESK TO SIGNING, JOHN MURPHY, SENIOR SIGNING, JOHN MURPHY, SENIOR VICE PRESIDENT FOR INTERNATIONAL VICE PRESIDENT FOR INTERNATIONAL POLICY, CHAMBER OF COMMERCE, POLICY, CHAMBER OF COMMERCE, WELCOME BACK, JOHN, GOOD TO SEE WELCOME BACK, JOHN, GOOD TO SEE YOU. YOU. NOW THAT YOU'VE HAD A CHANCE TO NOW THAT YOU'VE HAD A CHANCE TO LOOK AT THE DETAILS OF THIS LOOK AT THE DETAILS OF THIS TRADE AGREEMENT WHICH ARE TRADE AGREEMENT WHICH ARE FINALLY RELEASED THIS WEEK, HOW FINALLY RELEASED THIS WEEK, HOW SIGNIFICANT IS THIS IN ITS SIGNIFICANT IS THIS IN ITS POTENTIAL TO CHANGE CHINESE POTENTIAL TO CHANGE CHINESE TRADING BEHAVIOR? TRADING BEHAVIOR? >> WE THINK IT'S A SIGNIFICANT >> WE THINK IT'S A SIGNIFICANT STEP FORWARD, FIRST OF ALL, STEP FORWARD, FIRST OF ALL, BECAUSE IT IS GOING TO BRING BECAUSE IT IS GOING TO BRING BACK A GREATER MEASURE OF BACK A GREATER MEASURE OF CERTAINTY TO U.S. ECONOMIC CERTAINTY TO U.S. ECONOMIC RELATIONS WITH CHINA AND RELATIONS WITH CHINA AND CERTAINTY ABOUT THE TARIFF CERTAINTY ABOUT THE TARIFF INVOLVEMENT, AS RECENTLY AS A INVOLVEMENT, AS RECENTLY AS A MONTH AGO WE WERE LOOKING AT THE MONTH AGO WE WERE LOOKING AT THE PROSPECT OF TARIFFS BEING PROSPECT OF TARIFFS BEING EXTENDED $100 BILLION PLUS OF EXTENDED $100 BILLION PLUS OF CONSUMER GOODS WE IMPORT FROM CONSUMER GOODS WE IMPORT FROM CHINA, IT'S GOOD TO SEE THAT WE CHINA, IT'S GOOD TO SEE THAT WE ARE NOT EXPANDING THE TRADE WAR. ARE NOT EXPANDING THE TRADE WAR. AS WE'VE GONE THROUGH SOME OF AS WE'VE GONE THROUGH SOME OF THE REFORMS THAT ARE IN THE THE REFORMS THAT ARE IN THE AGREEMENT, WE ARE PLEASED TO SEE AGREEMENT, WE ARE PLEASED TO SEE SOME THAT WE THINK ARE SOME THAT WE THINK ARE MEANINGFUL, FOR INSTANCE, NEW MEANINGFUL, FOR INSTANCE, NEW PROTECTIONS FOR INTELLECTUAL PROTECTIONS FOR INTELLECTUAL PROPERTY, OPENING UP OF THE PROPERTY, OPENING UP OF THE FINANCIAL SERVICE'S MARKET, THE FINANCIAL SERVICE'S MARKET, THE CHALLENGE TO SEE HOW THESE ARE CHALLENGE TO SEE HOW THESE ARE IMPLEMENTED IN THE MONTHS AHEAD. IMPLEMENTED IN THE MONTHS AHEAD. PAUL: YEAH, THAT'S THE BIG POINT PAUL: YEAH, THAT'S THE BIG POINT HERE, I'VE BEEN AT THIS FOR A HERE, I'VE BEEN AT THIS FOR A LONG TIME AND, I MEAN, I DON'T LONG TIME AND, I MEAN, I DON'T KNOW HOW MANY -- WAS IT 2 YEARS KNOW HOW MANY -- WAS IT 2 YEARS AGO OR 30 WHEN CHINA PROMISE AGO OR 30 WHEN CHINA PROMISE TODAY OPEN UP THE FINANCIAL TODAY OPEN UP THE FINANCIAL SERVICE'S MARKET, SO IN A WAY SERVICE'S MARKET, SO IN A WAY THE MOST INTERESTING THING ABOUT THE MOST INTERESTING THING ABOUT THE DEAL IS THE CONSULTATION AND THE DEAL IS THE CONSULTATION AND POTENTIAL ENFORCEMENT MECHANISM POTENTIAL ENFORCEMENT MECHANISM THAT IS IF YOU'RE AN AMERICAN THAT IS IF YOU'RE AN AMERICAN COMPANY IN CHINA AND YOU FEEL COMPANY IN CHINA AND YOU FEEL THAT YOU'VE BEEN HARM AND THAT YOU'VE BEEN HARM AND INSTEAD OF GOING TO REGULATOR INSTEAD OF GOING TO REGULATOR YOU CAN GO TO U.S. TRADE YOU CAN GO TO U.S. TRADE REPRESENTATIVE AND THAT WILL REPRESENTATIVE AND THAT WILL TRIGGER A BILATERAL PROCESS OF TRIGGER A BILATERAL PROCESS OF REVIEW, DO YOU AGREE? REVIEW, DO YOU AGREE? >> ABSOLUTELY. >> ABSOLUTELY. SOME OF THE COMMITMENTS HERE ARE SOME OF THE COMMITMENTS HERE ARE FAMILIAR, WE'VE HEARD THEM IN FAMILIAR, WE'VE HEARD THEM IN ONE FORM OR ANOTHER IN BILATERAL ONE FORM OR ANOTHER IN BILATERAL DIALOGUES FOR YEARS, EVEN DIALOGUES FOR YEARS, EVEN DECADES BUT NOW MONTHLY MEETINGS DECADES BUT NOW MONTHLY MEETINGS AT THE -- AT THE LEVEL OF LOWER AT THE -- AT THE LEVEL OF LOWER OFFICIALS AND QUARTERLY AT THE OFFICIALS AND QUARTERLY AT THE DEPUTY MINISTER LEVEL AND SO ON DEPUTY MINISTER LEVEL AND SO ON UP TO CHAIN. UP TO CHAIN. PAUL: RIGHT. PAUL: RIGHT. >> ROBERT LIGHTHIZER, U.S. TRADE >> ROBERT LIGHTHIZER, U.S. TRADE REPRESENTATIVE, HE REGARDS IT AS REPRESENTATIVE, HE REGARDS IT AS JOB ONE HERE TO SEE THAT THE JOB ONE HERE TO SEE THAT THE CHANGES TO THE CHINESE ECONOMY, CHANGES TO THE CHINESE ECONOMY, THAT THE CHINESE I THINK FOR THAT THE CHINESE I THINK FOR THEIR OWN INTEREST, FOR THEIR THEIR OWN INTEREST, FOR THEIR OWN RATIONALE ARE COMMITTING TO, OWN RATIONALE ARE COMMITTING TO, THAT THEY'RE ACTUALLY THAT THEY'RE ACTUALLY IMPLEMENTED. IMPLEMENTED. >> I GUESS THE QUESTION THAT I >> I GUESS THE QUESTION THAT I ALSO HAVE WAS IT WORTH THE 2 ALSO HAVE WAS IT WORTH THE 2 YEARS OF UNCERTAINTY AND TARIFF YEARS OF UNCERTAINTY AND TARIFF IMPOSITION, SOME SOME OF THE TAR IMPOSITION, SOME SOME OF THE TAR ARE STILL GOING TO BE ON, WAS IT ARE STILL GOING TO BE ON, WAS IT WORTH THE PRICE ECONOMICALLY? WORTH THE PRICE ECONOMICALLY? >> I THINK THAT THAT'S A >> I THINK THAT THAT'S A DIFFICULT QUESTION TO ANSWER. DIFFICULT QUESTION TO ANSWER. AS YOU SAY TARIFFS ON AS YOU SAY TARIFFS ON $350 BILLION ON IMPORT FROM $350 BILLION ON IMPORT FROM CHINA ARE STILL THERE, THE COST CHINA ARE STILL THERE, THE COST HAS BEEN SUBSTANTIAL TO BOTH HAS BEEN SUBSTANTIAL TO BOTH ECONOMIES, CHINA'S ECONOMY ECONOMIES, CHINA'S ECONOMY GROWTH HAS SLOWED PRETTY GROWTH HAS SLOWED PRETTY DRAMATICALLY AND FOR THE UNITED DRAMATICALLY AND FOR THE UNITED STATES, WE JUST HAVE NEW NUMBERS STATES, WE JUST HAVE NEW NUMBERS IN THAT IN 2019 THE U.S. IN THAT IN 2019 THE U.S. MANUFACTURING SECTOR CONTRACTED MANUFACTURING SECTOR CONTRACTED BY MORE THAN 1%. BY MORE THAN 1%. AGRICULTURE HAS BEEN IN A AGRICULTURE HAS BEEN IN A RECESSION, THAT'S THE PRICE AND RECESSION, THAT'S THE PRICE AND LOOKING FORWARD, WE HAVE TO SEE LOOKING FORWARD, WE HAVE TO SEE HOW THESE MEASURES ARE HOW THESE MEASURES ARE IMPLEMENTED TO SEE, YOU KNOW, IMPLEMENTED TO SEE, YOU KNOW, THAT WE ARE GOING TO GET PAYOFF THAT WE ARE GOING TO GET PAYOFF FROM THAT. FROM THAT. PAUL: WE SHOULD GET SOME AT PAUL: WE SHOULD GET SOME AT LEAST NEAR TERM RELIEF GROWTH AS LEAST NEAR TERM RELIEF GROWTH AS THAT UNCERTAINTY ADDS I WOULD THAT UNCERTAINTY ADDS I WOULD ASSUME THIS YEAR AND THE ECONOMY ASSUME THIS YEAR AND THE ECONOMY BOUNCING BACK A LITTLE BIT, IS BOUNCING BACK A LITTLE BIT, IS THAT WHAT YOU ANTICIPATE? THAT WHAT YOU ANTICIPATE? >> WE DO, THERE'S A NUMBER OF >> WE DO, THERE'S A NUMBER OF REASONS THAT WE EXPECT THE REASONS THAT WE EXPECT THE ECONOMY TO BE BOUNCING BACK, ONE ECONOMY TO BE BOUNCING BACK, ONE OF THE DRAGS ON THE ECONOMY HAS OF THE DRAGS ON THE ECONOMY HAS BEEN BUSINESS INVESTMENT HAS BEEN BUSINESS INVESTMENT HAS BEEN LOW AND THAT'S BEEN IN PART BEEN LOW AND THAT'S BEEN IN PART BECAUSE OF UNCERTAINTY ABOUT BECAUSE OF UNCERTAINTY ABOUT TARIFFS, WE SEE THAT LIFTING UP TARIFFS, WE SEE THAT LIFTING UP BECAUSE OF THE CHINA DEAL AND BECAUSE OF THE CHINA DEAL AND ALSO BECAUSE OF USMCA. ALSO BECAUSE OF USMCA. PAUL: YEAH, LET'S TALK ABOUT PAUL: YEAH, LET'S TALK ABOUT USMCA BRIEFLY, NICE TO GET THAT USMCA BRIEFLY, NICE TO GET THAT FINALLY DONE AND BEHIND US, SO I FINALLY DONE AND BEHIND US, SO I GUESS YOU GUYS ARE PRETTY HAPPY GUESS YOU GUYS ARE PRETTY HAPPY ABOUT THAT EVEN THOUGH THERE'S A ABOUT THAT EVEN THOUGH THERE'S A MANAGED TRADE COMPONENT HERE AND MANAGED TRADE COMPONENT HERE AND WAGED DICTATES FOR THE AUTO WAGED DICTATES FOR THE AUTO INDUSTRY THAT GENERALLY BUSINESS INDUSTRY THAT GENERALLY BUSINESS LIKE. LIKE. NET ON NET, BIG IMPROVEMENT OR NET ON NET, BIG IMPROVEMENT OR NOT? NOT? >> SO FOR MOST BUSINESSES AND >> SO FOR MOST BUSINESSES AND MOST SECTORS OF THE ECONOMY THE MOST SECTORS OF THE ECONOMY THE REALLY GOOD NEWS IS THAT FREE REALLY GOOD NEWS IS THAT FREE TRADE ACROSS NORTH AMERICA IS TRADE ACROSS NORTH AMERICA IS GOING TO CONTINUE AS IT HAS FOR GOING TO CONTINUE AS IT HAS FOR 2 YEARS. 2 YEARS. WE HAVE EXCELLENT MARKET ACCESS WE HAVE EXCELLENT MARKET ACCESS AND WE HAVE SOME MODERNIZED AND WE HAVE SOME MODERNIZED TRADE RULES LIKE DIGITAL TRADE, TRADE RULES LIKE DIGITAL TRADE, OTHER MEASURES TO COMBAT BEHIND OTHER MEASURES TO COMBAT BEHIND THE BORDER KINDS OF THE BORDER KINDS OF PROTECTIONISM, YOU MENTIONED PROTECTIONISM, YOU MENTIONED WITH REGARD TO THE COMPLICATED WITH REGARD TO THE COMPLICATED RULES THAT ARE GOING TO RAISE RULES THAT ARE GOING TO RAISE COSTS FOR THE AUTO INDUSTRY, COSTS FOR THE AUTO INDUSTRY, NOW, RAISING COSTS FOR AN NOW, RAISING COSTS FOR AN INDUSTRY ISN'T USUALLY A GOOD INDUSTRY ISN'T USUALLY A GOOD WAY TO MAKE MORE GLOBALLY WAY TO MAKE MORE GLOBALLY COMPETITIVE. COMPETITIVE. PAUL: RIGHT. PAUL: RIGHT. >> MOST COMPANIES ARE INDICATING >> MOST COMPANIES ARE INDICATING THAT THEY THINK THEY CAN THAT THEY THINK THEY CAN IMPLEMENT WITHOUT TOO MUCH COST IMPLEMENT WITHOUT TOO MUCH COST BUT THE DEVIL IS IN THE DETAILS BUT THE DEVIL IS IN THE DETAILS AS WE GO THROUGH IMPLEMENTATION AS WE GO THROUGH IMPLEMENTATION PHASE, THE QUESTION HOW PHASE, THE QUESTION HOW REGULATIONS IMPLEMENTING WILL BE REGULATIONS IMPLEMENTING WILL BE FRAMED AND WILL BE ON THAT AS FRAMED AND WILL BE ON THAT AS WELL. WELL. PAUL: BRIEFLY, JOHN, DO YOU SEE PAUL: BRIEFLY, JOHN, DO YOU SEE THIS BASICALLY BEING TRADE FOR THIS BASICALLY BEING TRADE FOR THE NEXT YEAR UNTIL WE GET THE NEXT YEAR UNTIL WE GET THROUGH THE ELECTION? THROUGH THE ELECTION? >> I THINK IT'LL BE CALMER, >> I THINK IT'LL BE CALMER, CERTAINLY, AND THERE'S SOMETHING CERTAINLY, AND THERE'S SOMETHING OF A SIGH OF RELIEF GOING UP AND OF A SIGH OF RELIEF GOING UP AND ALSO THE THREAT TO IMPOSE AUTO ALSO THE THREAT TO IMPOSE AUTO TARIFFS SEEM TO HAVE EXPIRED AS TARIFFS SEEM TO HAVE EXPIRED AS THE ADMINISTRATION PASSED THE THE ADMINISTRATION PASSED THE DEADLINE, SO WE ARE LOOKING FOR DEADLINE, SO WE ARE LOOKING FOR A CHANCE TO CONSOLIDATE THE A CHANCE TO CONSOLIDATE THE GAINS WHERE THEY EXIST AND MOVE GAINS WHERE THEY EXIST AND MOVE FORWARD IN THE YEAR AHEAD.
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