and bob lighthizer. there's not a more capable trade ambassador than we've had than bob lighthizer. he's been relentless in his pursuit of getting this done. and lastly, president trump. it wouldn't have happened without him and what he did, working with the canadians and the mexicans to get this trade agreement done. this free and fair trade agreement benefits all of us, all sectors of our economy. moreover, it will further support the record breaking economic growth that this country has seen. we arguably have the best economy we've had in 40 years and this will help that. it is true that this agreement is not perfect. there are a few things i would have liked to have seen differently, on sunset provision and rules of origin. but at the end of the day, when you look at these 24 chapters and what it does for market access for agriculture, to digital trade provisions, usmca puts america on top. and it shows the world that with our two largest trading partners, mexico and canada, we can negotiate an agreement that is solid. and remember, we represent 4.5% of the world's population. w

. >> ambassador bob lighthizer, the lead u.s. trade negotiator told reporters he expects ministers, not leaders of the two countries to sign the deal the first week of january insh gton. it will take effect 30 days after that. thisas process seen many false starts before. as recently as president trump touted a deal being reached before it was finished. >> really shouldve it this time. this is a major development, large phase 1 deal. >> as for what happened the last countries had made notional the agreement but needed time to work out figures behind it. even so, he said it's wise to remain skeptal whether china can deliver. for "nightly business report" i'm kayla tausche in ♪ ♪ >>> the chise have agreed to a phase 1 trade deal with the u.s. at a late night friday press briefing in beijing senior members ochina's negotiating team said that reaching a deal wouldenefit chin the u.s. and the world. the key highlight was that thei e did not commit to a u.s. goods.gure for purchases of which was a key demand of the trump administra

this is a huge win for america and for the president, bob lighthizer, and his entire team, jared kushner, the usmca was a massive win. and this could have been implemented 13 months ago. but beyond the usmca, stay with me, this is abuse of power,rm pelosi is doing harm to the country right now by withholding support for infrastructure and prescription drug bill -- the bill, lowerl the price of prescription drugs. affecting all of us. her party campaign on both of those issues because she is doing this, abusing her power, merely for her own political benefit. do you see how ambiguous this can get? and, ofou course, to deny a victory to the president. article two of our impeachment against this congress, lying under oath. now, who can forgetun what adam schiff did when he read from the so-called trump-zelensky transcript back in september? >> i have a favor i want from you, though. i'm going to say this only seven times, so you better listen good. i want you to make up dirt on my political opponent, understand? lots of it. and by the way, don't call me again, i will call you when you've do

and john, i remember this, i said on the show, watch bob lighthizer, watch what he does. his whole team, brilliant. jared kushner, they laughed at him, too. they worked on it, and it happened. >> is all about trying to stop the president from getting reelected. once the mueller report went away, he was able to start moving things like the trade deal to protect jobs, already created 7 million new jobs in the economy, plus was able to get people to focus on lowering drug prices. they want to do things like paid parental leave. they do those things, his job approval moves to about 50%, he gets reelected. >> laura: watching tonight in pennsylvania, he looks like he is really having fun. he is enjoying himself. i haven't seen him like this, really having fun, in a long time. sometimes, at the other folks' expense. watch. >> do you ever know what biden keeps saying he is in the wrong state? it's great to be in ohio tonight. if he's in pennsylvania, it's wonderful to be in the state of delaware. what is wrong with this guy? >> laura: it's kind of cruel, but as a general matter,

let me try to be clear on this this is bob lighthizer's turf. there has to be a certain amount of paper work and translation from english to chinese and i guess their version comes back from chinese back into english then it will be signed, as i understand it, it will be signed not at the presidential level but at the ministerial level that's my current understanding. do not mistaken that for any stalling or doubts about the deal it's just a question of -- i want to call it a -- it's a clerical question. that's all it is as far as phase two, i have no idea i wouldn't want to put a timetable on any of that it's not a good idea to make predictions about these things opinion maybe it maybe it's not a good idea we have phase one the it's done. it is completed. it begins today. at least many the technical spirit of the thing. it will be signed as soon as possible phase two begins this is a tremendous accomplishment president trump has changed the narrative against china and pointed out the unfair trading practices and he's bound and determined to def

tr bob lighthizer have done an incredible job. >> you went down to mexico at the beginning of the negotiations. i'm sort of puzzled that a negotiation was done mostly by republicans has the goal of providing further labor protections for mexican workers and, in fact, opportunities to unionize something republicans don't tend to love doing in the united states. talk to me about this. >> well, i was a little bit surprised too, but from day one two years ago, ustr bob lighthizer wanted to make this legislation bipartisan and he did. representative -- ambassador lighthizer understand this from decades of work up here on the hill and he created a bipartisan solution. things we needed, things that were needed. this is called a win/win situation and everybody wins. >> steven mnuchin, the treasury secretary told cnbc the usma is going to add half a percent to gdp growth. that's a lot. do you think the deal is that good? >> i do. you're the economist and i'm a simple physician. the gdp gross when economies become more efficient. i think this deal makes our economies more efficient. i think that intelle

well, we have described to you through bob lighthizer what is in the deal. what is going on right now is a normal process in that trade agreements are initially written with the u.s. in english. now it has to be translated into chinese, and then the chinese language version has to be conformed to the u.s. one. that is what is taking the time. it is time well spent. negotiationg, hard to get to this point. we want to make sure there is no confusion going forward. it looks question, like it has been a long, hard negotiation. at the same time, do what extent does the phase one address the old trade issues, manufacturing, currency, manufacturing, as opposed to the 21st century issues like intellectual property, artificial intelligence, high-tech? wilbur: that was deliberate. withdea was deal mainly current trade in this phase one agreement. this is not the final, total agreement. this is just a phase one. we wanted to deal particularly with agriculture, which has been penalized by the chinese in retaliation for our section 301 tariffs on them. one was agricultur

as a template i must say i have known bob lighthizer for a very long time. we did cub scouts together so that's how far back we go produce the best trade negotiate in the business and he has created a template. it's going to be a very pro-growth template. >> let's jump to the sexier topic as you put it which i'm sure is on everyone's mind here. the drawer reported this morning that u.s. and chinese negotiators are planning to delay tariffs on imported chinese goods that are scheduled to go into effect this weekend. you want to confirm that publicly? >> i cannot confirm that or you. >> but it's in the journal. it must be true. >> yes, i understand. [laughter] fabulous newspaper. a couple of things. i'm not going to go into detail but i will say this. the president has struck a very constructive and optimistic tone particularly in the last week or two. in his public comment his tweet and so forth which is a good thing. my friend henry kissinger just returned from a week in china and reported back. he was in the office last friday that chinese hierarchy includi

bob lighthizer today in 20 minute's time. mimics the threat of driving hung over, yeah, we are taking you into ford headquarters for a special test drive on that one, not just drinking that's distracting drivers, see the dangers of shopping behind the wheel, who would do this? back in a minute. maria: welcome back, massive protests raging in france, we are take august live look at paris, this is happening right now where thousands are taking to the streets angry over president macron's plan, 13th day of strikes and protests which have paralyzed the country, the job action affecting air traffic controllers, rail workers and teachers as you can see from the live pictures this morning coming out of france. and billionaire investor peter thiel at the center of internal divisions at facebook over politics, thiel does not think that facebook could cave on calls to change political ad policy which is not fact-checking ads, executives and board directors disagree, twitter we know is stopping taking all political ads, steer clear fres

the president and bob lighthizer have shown they know how to do a trade deal fast. maria: what kind of impact to gdp are you expecting usmca to have? >> the conservative estimate by the international trade commission was about a point over time. that's going to unroll over time. i think it's going to be much more. the bigger impact for me with usmca is the rebuilding of our auto industry as a global hub of auto manufacturing. that's with the regional content, local content you rules. that's 75,000 jobs, conservatively estimated. so president trump is like a jobs machine. everything he does, everything he thinks about every day is how to create good paying jobs for people in this country who work with their hands of. he's turned the republican party into the party of the working class. maria: china trade, there are no concerns about agricultural buys due to targets set up to $50 billion, that level more than double peak sales from before the trade impasse. here's what bob lighthizer told me about the phase one trade deal had that you just did. >> is this agreement go

and bob lighthizer. there's not a more capable trade ambassador than we've had than bob lighthizer. he's been relentless in his pursuit of getting this done. and lastly, president trump. it wouldn't have happened without him and what he did, working with the canadians and the mexicans to get this trade agreement done. this free and fair trade agreement benefits all of us, all sectors of our economy. moreover, it will further support the record breaking economic growth that this country has seen. we arguably have the best economy we've had in 40 years and this will help that. it is true that this agreement is not perfect. there are a few things i would have liked to have seen differently, on sunset provision and rules of origin. but at the end of the day, when you look at these 24 chapters and what it does for market access for agriculture, to digital trade provisions, usmca puts america on top. and it shows the world that with our two largest trading partners, mexico and canada, we can negotiate an agreement that is solid. and remember, we represent 4.5% of the world's population. w

, i think, would have been what the chinese pushed hardest against and bob lighthizer, i think, has got a win there. >> do you anticipate that there will be a phase 2 that takes place before the election or does everything else at this point get pushed off until later next year and beyond >> you know, becky, what's fascinating is to look at the different scripts being used in beijing and washington on this core question of what about the phase 2 negotiations the american side have been very plain in saying that as soon as this thing is done and dusted, that's the phase 1 deal. then they'll be at it again in january to recommence the negotiations for phase 2 the chinese side have said something quite different. they said, well, we intend to wait for the full implementation of the phase 1 agreement before we look at phase 2 now, why is that the case? the real stumbling block in all these negotiations over time has been this, and that is china's own domestic subsidies to its own firms in what they -- what they -- how they operate in the international marketplace. whether it's huawei or oth

lighthizer, the u.s. trade rep, is very proud of. he says this makes the agreement better. so i think that sheds a little light on how he thinks about this. now, the last provision i will mention is he acknowledges makes he had ement worse is negotiated 10 years of intellectual property protection biologics and the insistence of speaker pelosi, that goes to zero. view, this is a very, ery exciting new category of really, , biologics, some breathtaking medicines for illnesses that are very, very serious, and 12 years of protection to create the incentive, the ability to recoup development in biologics, hese new in mexico and canada, that goes to zero. report, the .t.c. international trade commission did a report in which they did of this ic evaluation and some of my colleagues and supporters of the agreement cite this is going e to be really good for the economy. nonsense. so the data point that's most 176,000 new jobs created by usmca. all, if you of believe that that number is true, it's a trivial number

what bob lighthizer has done is almost miraculous for quick enforcement. if china does not honor the commitment, he can slap those tariffs back on. trade a lot of faith in ambassador lighthizer, making sure all the i's are dotted and t's crossed. >> big and vote -- vote tomorrow on impeachment. what will you have your eyes on? rep. marshall: the biggest frustrating thing about impeachment is that it has kept us from getting this trade agreement done a long time ago. i think a lot of us have made our minds up. i don't think the president did anything wrong. i'm going to go in there and vote no on impeachment. i think the dye has already been cast. >> we covered it all. usmca, u.s.-china, impeachment. i almost forgot, you guys are going to keep the government open by the end of the week, right? rep. marshall: absolutely. the house passed both those pieces of legislation today. i am very concerned about our deficit going on, the prey to -- the price tags on these. i'm very glad that we are keeping the military going and there is some funding here for the pres

bob lighthizer this today saying he expects negotiations to go on for years. that's not too reassuring to a lot of people. the second point is there's still a lot of tariffs that are going to remain in place as a result of this deal. there's a small rollback in existing tariffs, 110 billion dollars of so from china. we will see the rate go from 15% to 7.5%, but there is still a big 25% tariff on $250 billion in goods coming from china. those aren't going away until we get progress on phase two. that could take years. there is still a trade war going on. it has just taken a bit of a pause. alix: finally, we stay in washington, where the impeachment process is moving ahead. senate democrats are demanding that the trump administration testify in the senate trial. what they told abc this week. >> if president trump is overwhelmingly acquitted in the senate, is that a failure? it isn't, noto, in the sense of the constitutional duty in the house. alix: joining me is kevin cirilli. what do we expect over the next five days? kevin: on wednesday, the house likely going

but look, bob lighthizer, a great american, did a great job on usmca. he was in mexico today. lou: he gets one $3 trillion deal done and he's going to take a day off? >> i don't know. lou: he can't get motivated. >> it puzzled me. we got a deal, the surks mca where it's five times the exports of the china deal. so you kind of wonder what's going on there. >> i was talking about that earlier. the market in all fairness is trying to digest a lot. the market knows they are getting played by wall street and the chinese and the futures market. and they know we don't have resolution on thawvment s.-china deal. the same geniuses who said that those tariffs that the trump administration put into place would destroy the market, would destroy the economy, are sitting here looking at great prosperity, record low unemployment, and sky-high markets. but you don't hear a single word from the national left-wing media or steve schwarzman or steve mnuchin, or maybe larry kudlow. how did that happen? the economy is booming here. we have 20 seconds. stay with me, partner. i have to get in a comm

when bob lighthizer testified in february of this year, that's the first and only time the enforcement mechanism was cribbed in public for how it has to work. that's crucial. monthly meetings of these two bodies, appeals. unilateral american action will be approved. this was the heart of the deal. without congressional hearings while we distract ourselves with impeachment, the president has no real way to tell how strongly the congress is behind it. nadler and schiff in my view, they are undermining the president's strength just when he needs it the most to confront the chinese. this data law is obviously outrageous. lou: but there is no response to it, and it's in effect. >> there is a response which is the original american negotiating position would forbid china from coercing technology transfer to china. this law would do that so the law would be ineffective against american companies. we would win in a court in china with that case. but whether that's still in the agreement we discussed now, probably not. a lot of the harder issues are being put off to phase two or phase three. th

lighthizer, if they do not abide by the rules and the commitments, then there will be a snap back on tariffs among other things. lou: among other things. joining us now doctor michael pillsbury, director of the center for chinese strategy at the hudson institute and author of the bestseller 100 year marathon leading expert on china and great to have you with us. let's start with phase one, snapback's and such. is this, in your judgment as it stands right now a fully enforceable trade agreement with snapback's? >> yes, the trade agreement enforcement mechanism is based on some other enforcement mechanisms by other countries but is been designed for china partly because they cheat so much. it had to be very quick so there will be monthly meetings, quarterly and an appeals mechanism in the decision to snapback the tariffs or administer other kinds of punishment to china. if they are caught cheating. lou: go ahead. >> that's one reason the chinese feel president trump got the best of them at least in the first phase. they have not agreed to this with any other country in the world over.

bob lighthizer and in that credible team. and also signed legislation to permanently fund black historic colleges and universities, something barack obama could not get done. in today's big news, federal and local law enforcement arresting nearly 100 top brutal ms-13 gang members and long island. the place where two years ago, trump promised to eradicate that vital, criminal cartel. now officials are saying that these arrests, sweeping arrest rendered ms-13 as inoperable in new york, that part of the county. those are real results. i haven't even talked about the stock market, record numbers, the best economy in the last 20 years. and this just over five days. now, trump can run on this in 2020. what on gods green earth do the democrats have to offer? now, try as they might the 2020 dems do not have an answer for this booming economy. this is painfully obvious during last night's democratic debate. >> what is your argument for the vote or the debate tonight? you may not like everything that president trump does, but they like

lighthizer, our trade ambassador, if they do not abide by the rules, and the commitment th, then there will be a snap back on tariffs among other things be we made the adjustment on tariffs, there is no december charge, september charge has been cut in half, there are 250 billion left. 25 percent, if they do not abide by, that they will have to face tariffs. and look, president trump is time again, he is a tough negotiate are, he is a tough bargainer, he's to stop the unfair expilling welunand illegs he will exercise all of the arrows in his quiver. >> this robert wolf, been the same steve and steve give you two softballs, i will come in with something different. >> we like the truth. >> right. >> my favorite democrat. >> you and i have been supportive of usmca, from last week senator tumi from pennsylvania hit is hard, will not support it i'm -- i was a bit surprised. he really kind of trashed it. what is your response to what he said about usmca with respect to the impact of pennsylvania. and impact of industrial america. me for the most -- he took opposite side of what we've said. >

lighthizer last hour on cnbc, the treasury secretary said it should be seen as a win for the economy, not a win for house speaker nancy pelosi >> we're going to get in excess of 50 basis points of additional growth in gdp as a result of this agreement people who say this is just nafta 2.0 just don't understand the technicalities of the agreement. this is a whole new agreement that really brings the trading relationship into the modern era. >> reporter: among changes that effect business, higher wages for mexican factory workers that democrats and unions say will keep companies here from outsourcing more jobs to mexico. the result will be higher tariffs, largely for auto companies who are choosing to make more parts overseas and pay the tariffs at the border to come in rather than source parts within the stricter content guidelines under the new deal. the congressional budget office, nonpartisan arbiter an estimator of deals says that roughly $3 billion in new tariff revenue will be the result from the united states, largely because of the dynamic i just described. senator pat toomey

one of the things we heard from bob lighthizer yesterday is that there are no plans yet. there's no date for phase two talks. he even went so far to say that it will take years to sort out some of these issues for china. that means those tariffs are going to stay in place potentially for years. vonnie: do we know yet how china is going to follow through on implement and those agriculture purchases, for example? clear?se details shawn: those are murky still. lighthizer said essentially the chinese had committed to $16 billion a year in additional agricultural purchases over the next two years. that is $16 billion on top of the pre-existing $24 billion, the pre-trade war figure the administration is touting. that gets you to $40 billion or so total. but we don't know how that is going to be made up. we don't know whether that is soybeans, pork, how much of that is processed foods versus commodities. these are kind of market moving details, but we still have a lot of questions about whether you can even hit that threshold. $200 are part of a bigger billion spending spree by

bob lighthizer and in that credible team. and also signed legislation to permanently fund black historic colleges and universities, something barack obama could not get done. in today's big news, federal and local law enforcement arresting nearly 100 top brutal ms-13 gang members and long island. the place where two years ago, trump promised to eradicate that vital, criminal cartel. now officials are saying that these arrests, sweeping arrest rendered ms-13 as inoperable in new york, that part of the county. those are real results. i haven't even talked about the stock market, record numbers, the best economy in the last 20 years. and this just over five days.e now, trump can run on this in 2020. what on god's green earth do the democrats have to offer? now, try as they might the 2020 dems do not have an answer for this booming economy. this is painfully obvious during last night's democratic debate. >> what is your argument for the vote or the debate tonight? you may not like everything that president trump does, but they li

i think bob lighthizer said yesterday it would be done the first week or early part of january. make no mistake about it, the deal is done. the deal is completed. lauren: the outcome on the second part of the phase deal will depend on the success of phase one. cheryl: turning to another major trade deal this morning, a top mexican official says he's, quote, very satisfied with the usmca trade deal after expressing initials reservations. he addressed part of the agreement that allows labor reviewers to be present in mexico for, quote, technical assistance. >> these personnel will not belabor inspectors and then in the next line it says also equally clearly, those verifications will be conducted by independent panelists. cheryl: we told you yesterday he was concerned about the inspections of production plants in mexico. mexico has ratified usmca and the house is going to take its first steps on the deal today in the ways and means committee, setting up a ratification vote expected this thursday. lauren: procrastinators, you may want to order your gifts sooner rather than later. am

the heavy lifting to this pointed has been done by china's lead negotiator and bob lighthizer. the two men are expected to continue their work until phase one is over the finish line. a major victory say white house officials for both u.s. consumers and american business. >> it's huge because what it does is it puts a floor in for a really strong fiscal stimulus that will also strengthen our defense industrial base. so that's all good. and then with our terror policies and because this is the strongest economy in the world, we are going to be attracting a lot of investment here, building things like auto plants and steel plants. 2020, it's going to be great. it's basically low unemployment. rises wages. happy new year. >> the president will meet with his counter part some time after the 15th. huge issues, julie still remain separating the two sides including forced transfer of technology and obviously intellectual property no. date is set as yet. and no sun set for a great number of those tariffs of course you and i have been talking about over the last several months. we will

meanwhile, on the other end of pennsylvania avenue, bob lighthizer is briefing republicans on another deal. the usmca. he has been absorbed by the deal leaving china talks up to the deputies so we'll see what the principals decide later today. republicans on the hill, brian, have been frustrated with being left out of a deal negotiated between the white house and democrats but you can be sure they'll ask questions about what happens with china as well >> kayla, can i ask you one question because we talked last night in the 5:00 p.m. show, some guy named ron vera put out the op-ed said forgetting about trade one trade deals and do you think this tweet was a reaction to the negativity of the report last night from the bizarre op-ed. >> reporter: and there is a potential, brian, that that email memo circulated byron vera was to troll people who have been covering these trade talks for the last months and last several years. navarro has been fighting upstream against the phase one deal since october advocating against the rollback of tariffs, against a short-term limited deal so certainly

trade negotiator bob lighthizer said on friday, that's not the case. lightlizer did acknowledge there may be some challenges holding carolina to account. >> we're going to sign this agreement. but i'll tell you there, the second phase 2 will be determined how we implement phase 1. phase 1 will be implemented right down to every detail it really is a remarkable agreement, but it's not going to solve all the problems. >> reporter: and perhaps some of the details in the different messaging is an indicator of the domestic political considerations that each country had and still have to make andrew >> help me though, with this do we think it's really lost in translation, bill murray, skarlth johanson style or do they understand what's going on and they don't want to understand, if you will? >> reporter: it really depends, andrew, especially on the tariff rollback portion of this i mean, there could be a situation where the u.s. is just holding out on announcing that, because they want to make sure they get to assigning. they want to make sure they get to so

trade representative bob lighthizer is somebody who democrats and republicans give a lot of credit to, so it's a matter of good personnel. also, it's worth noting -- >> a good team, right, yeah. >> it's a good team. also, mr. trump is probably going to score rhetorical points based on the china deal but if you listen to what analysts, lawmakers are saying about it, the word they're using is underwhelming. a lot of the details haven't come out. some of the big structural changes that mr. trump had really run on that people were hopeful he could achieve are vague, don't seem to be in this. what happens with state-owned enterprises. that's something omitted. it's not clear exactly how the enforcement is going to work when it comes to a provision in which american companies would no longer be forced to transfer their technology to china. so there's a lot of question marks about how significant the china deal really is. >> well then, adrian, if there's some questions here and your leader pelosi, you have a decision, give wane to the president, flip side, you could say the leaders are sayin

. >> i'm satisfied that bob lighthizer made reasonable compromises with the house democrats in the areas of environment, labor enforcement. i'm a little disappointed about the biologics sort of thing, but it doesn't change u.s. law at all. so i think that we just move ahead. >> and u.s. trade representative robert lighthizer walking a line when it comes to credit. he released this statement here saying quote after working with republicans, democrats and many other stake holders for the past two years, we have created a deal that will benefit american workers, farmers, and ranchers for years to come. and the u.s. trade representative is in mexico right now. in fact, right now having a ceremony for signing the new revised usmca. he's there with the deputy prime minister of canada, who is speaking, as well as jared kushner and obviously the mexican delegation that's there. now, one more issue here on trade, jackie, you talk about china. the chinese tariffs coming up with the december 15th, that's sunday, white house economic advisor larry kudlow says that as of right now, as of today, those

bob lighthizer produced an incredible phase one achievement that protects intellectual property, some protections that we have never had before and quite frankly that was at the top of our list of things we needed to do to make sure we maintained america's lead in technology. connell: i notice you used the word enforceable almost right off the top which was important to a lot of people. i know that was on purpose. but this is phase one. so being forward looking about this, now that you have this, all right, they did it, they apparently have something they can enforce, at least put some tariffs back on if china doesn't go along. what about phase two or three or however many phases, what's next here? what's most important to you? >> i'm glad you brought up phase two. we certainly have to focus on that. i would like to celebrate phase one. it hasn't been signed yet. that's going to happen in january, we understand. and so first and foremost, we want to see phase one signed, and that will be a test of whether we can actually trust the chinese to do what they say they are going to do. conn

they know president trump and bob lighthizer has done great job of all details, including biologics and labor deals or inspections a little bit after sovereignty push mexico was going to balk at but i think those are the two main issues, protection for the brand named pharmaceuticals and inspection rights. charles: they would be taking away some of those protections, wouldn't they? the way i read it they would sort of lower or mitigate the ip protections. i found it interesting. i know this is one of these things that crosses party lines, high drug prices, other things. drug companies to me would seem to balk at the idea, hey, we don't need any limitations considering we have small windows of opportunities to recoup our investment. >> that is exactly it. u.s. law is 12 year for the exclusive period. the usmca deal as it stands is 10 years. the push from democrats, i think mexico has jumped on board with it for it to be five years. charles: wow. >> the debate is if we're going to invest hundreds of billions of dollars as an american pharmaceutical company in this, why would we not be all

but from day one, to your point, ambassador bob lighthizer and kevin brady, who was then chairman of the ways and means committee, wanted this to be a bipartisan solution that included some good things for labor as well, and that's going to end up moving some of those manufacturing jobs back to kansas, back to the united states, and i'm sure that that's probably got some attention of the folks in mexico and if they've got to do it, they've got to do it. at the end of the day, this agreement is going to get done. liz: got to shift to the phase one u.s./china deal which has not yet been signed by xi jinping of china or president trump. there's a question as to whether it will get signed, sort of done in davos, which is the world economic forum, third week in january. do you expect that to happen? >> i do. this usmca trade agreement will get president trump even more leverage with china, forcing them back to the table. it's hard to believe, when we get china wrapped up, the president will have renegotiated over half of our trade agreements from a dollars and cents standpoint, so that's

lighthizer, the u.s. trade rep, is very proud of. he says this makes the agreement better. i think that sheds a little light on how he thinks about this. the last provision is one he acknowledges makes the agreement worse and he had negotiated ten years of intellectual property protection for bio logics and at the insistence of speaker pelosi, that goes to zero. bio logics some breathtaking therapies for illnesses that are very, very serious and our u.s. law is 12 years of protection to create the ability to recoup the massive investment in developing these bio logics. in mexico and canada that goes to zero. >> some of my colleagues have supporters of the agreement cite this as evidence that this is going to be good for the economy. it's nonsense. the data point that's most cited is 176,000 new jobs created by usmca. well, first, if you believe that that number is true, it's a trivial number, right? we have been cranking out 200,000 new jobs a month in this country. usmca, according to this data point, is

lighthizer, the u.s. trade rep, is very proud of your cases this makes the agreement better. i think that sheds a light on how he thinks about this. the last provision going to mention is one that he acknowledges makes the agreement worse, and that is he had negotiated ten years of intellectual property protection for biologics, and at the insistence of speaker pelosi that goes to zero. in my view this is a very, very exciting new category of medicines, biologics. really some stunning, breathtaking therapies that are for illnesses that are very, very serious. and our u.s. law is 12 years of protection to create the incented, the billy to recoup a massive investment in developing these new biologics in mexico and canada. that goes to zero. two of the things i want to touch a really good one is the international trade commission did report in which they did an economic evaluation. some of my colleagues and supporters site the social be good for the economy. it's nonsense. so the data point that's that s oft

lighthizer, the u.s. trade rep, is very proud of. he says this makes the agreement better, so i think that shdeds a little light on how he thinks about this. the last provision i will mention is when he acknowledges make the agreement worth. he had negotiated ten years for biologics and at the insistence of speaker pelosi that goes to zero. in my view, this is a very, very exciting new category of medicines. biologics, really some stunning, breathtaking therapies that are for illnesses that are very, . serious in our u.s. law of 12 years of protection to have the ability to recoup the massive investment in developing these new biologics in mexico and canada, that goes to zero. two other things i want to touch on briefly. one is the idc report. -- itc report. the international trade commission did a report in which they did an economic evaluation of this and some of my colleagues and supporters cite this as being really good for the economy. that's nonsense. so the data point that's often cited is 176,000

lighthizer, the u.s. trade rep, is very proud of. he says this makes the agreement better, so i think that shdeds a little light on how he thinks about this. the last provision i will mention is when he acknowledges make the agreement worth. he had negotiated ten years for biologics and at the insistence of speaker pelosi that goes to zero. in my view, this is a very, very exciting new category of medicines. biologics, really some stunning, breathtaking therapies that are for illnesses that are very, serious in our u.s. law of 12 years of protection to have the ability to recoup the massive investment in developing these new biologics in mexico and canada, that goes to zero. two other things i want to touch on briefly. one is the itc report. the international trade commission did a report in which they did an economic evaluation of this and some of my colleagues and supporters cite this as being really good for the economy. that's nonsense. so the data point that's often cited is 176,000 new jobs created

lighthizer, the u.s. trade rep is very proud of. he says this makes the agreement better, so i think that sheds a little light on how he thinks about it, and the last one is how he makes the agreement worse and that is he had negotiated ten years for biologics and at the insistence of speaker pelosi that goes to zero. in my view, this is a very, very exciting new category of medicines. biologics, really, some stunning, breathtaking therapies that are for illnesses that are very, very serious and ours is 12 years of protection to have the ability to recoup the massive investment in developing these new biologics in mexico and canada that goes to zero. two other things i want to touch on briefly. one is the itc report and the international trade commission did a report in which they did an economic evaluation of this and some of my colleagues and supporters cite this as being really good for the economy. that's nonsense. so the data point that's often cite side 176,000 new jobs created by usmca. first of al

do you have any concerns or do you believe bob lighthizer when he says this is a done deal? >> i think it probably is a done deal in terms of the broad outlines. there is disagreement on just how much the chinese will purchase. they will over time purchase more than they have been within the last couple of years. it's not that significantly higher than what they purchased back in around 2016, 2014, which was an all-time high. but it's still relatively good news for farmers. at least they will be able to sell. whether they can actually produce that much more and sell to the chinese is another question or will they simply divert some of their deliveries to other countries to china? al purchase more other -- more other items, but again, our factories are at almost full capacity. can they really supply new? will they really get new product? or will it be diverted to other countries? but one good thing is that american consumers will not be paying more by what they -- by way of what they buy at the grocery store or at supermarkets and things like that or department stores. but th

trade representative bob lighthizer has listened to democrats' concerns, listened very carefully and incorporated these concerns into this agreement. now, some of the concerns have also been raised by republicans over the year, but, frankly, when i was u.s. trade representatives it was democrats who mostly raised these concerns about the labor standards being enforceable and ensuring that you had something like the minimum wage that is now in this agreement. these are provisions that democrats have demanded for years and yet now we can't get a vote. they won't let it even be voted on. how does that make sense? how do you explain that? i don't believe any democrat thinks the status quo, nafta, is better than usmca. if they do, i would challenge them to explain to the american people why they think the status quo, nafta, is better than usmca. blocking this trade agreement hurts so many sectors of our economy, as i talked about. it hurts our auto industry and the hardworking men and women who are on the assembly lines, it hurts our farmers. they aren't going to be able to gain new acces

i'm really pleased that the president of the united states and his chief trade negotiator bob lighthizer had the patience and fortitude and persistence to get this done. i'm not sure i would have had the same patience. and i want to also congratulate house speaker nancy pelosi for making the decision to move forward with it. this is one of these situations where under our law the agreement has to be voted on first by the house. and so the speaker of the house had an unusual role here where it couldn't go forward without her approval. again finally we're there. the agreement which was negotiated over a year ago -- and language -- specific language was sent up here in may of last year is pretty much the same. about 99% of it is the same agreement. it's a good agreement because it opens up more markets for us. what has changed is there is a a -- new provisions, different provisions as it relates to enforcing the labor standards that are already in the agreement. so in the agreement, what mexico and canada were asked to do, in addition to the united states in terms of higher labor standards,

bob lighthizer is taking the lead. can you make any progress in non-trade issues until the trade issue is resolved? mike: yeah. we have made some. other places, we have gone backwards. the chinese have been there he -- very helpful on north korea. they have done more to enforce the un security council resolutions on north korea than any time in history. they are helpful with us today in afghanistan and projects there, too. it is something folks do not spend a lot of time thinking about. so far, so good with respect to respecting our sanctions enforcement on the islamic republic of iran. there are places we can work with china. there are lots of diplomatic fronts where we don't share the same values, but we have overlapping interests. we work on those problems. david: you have been to north korea and met with the leader of north korea. you have been there with the president. what type of person is he? does he have interesting thoughts? does he speak english? do you communicate in english with him? can you summarize what

-china trade war, but we've also had words from bob lighthizer, the u.s. trade representative's, that europe may now be in for a trade war with the u.s. that is going to make a big difference, what the global economy is like, and particularly how strong the european economy is going to be. stuart, you were talking about the volatility pricing in continued risk. there's moreike optimism priced in, or just more volatility? stuart: coming into the event, it was volatility. hopefully after the election there is a little more optimism priced in. the view from our economist is the first half looks a little better. second half, the risk starts to bubble up again. to your point earlier, the central banks have been touting this need to put consistently over the last six months. the economy looks ok, looks stable, but there are global growth risks or areas of uncertainty that we are going to cut to hedge against. our economists in the region may boe tocted boh -- the have to go that route. samee are back into the playing by headlines game, unfortunately. alix: steph

trade representative bob lighthizer again, signaling that the u.s./china trade deal is moving along. david: in the meantime, we are just getting a tweet from the president saying that iran is behind those attacks that killed u.s. contractors and wounded others. what other reaction, if any, are we getting in washington? kevin: yesterday i spoke with secretary of state mike pompeo's senior advisor, brian hook. he is the u.s. special envoy to iran. he said that potentially more sanctions are going to be waged against iran as far as the maximum pressure campaign, and to anticipate them sometime in the short term. meanwhile, the administration also following that airstrike that was carried out in response to that attack, which you mentioned sunday. the president met in mar-a-lago with his national security team, including the secretary of state who is scheduled to depart for ukraine in the coming days this week. david: finally, as we go into an election year, we have a new poll bloomberg is reporting on out of florida about a head-to-head contest between