Transcripts For FBC After The Bell 20240714

Territory for the fourth day in a row. Energy stocks leading the advance as oil surges to a threeweek high, closing up more than 5 , marking its biggest gain of the year. A lot of news to get to. Im Melissa Francis in new york. This is after the bell. Connell im Connell Mcshane live once again in beijing and today were getting a firsthand look at the view from china. Speaking to folks here on the ground what they really think about the trade war with the United States and the perception of American Companies, especially apple. As the tech giant considers moving some of its production out of china. Melissa. Melissa first we begin with breaking news and fox Business Team coverage. Gerri willis is on the floor of the new york stock exchange, blake burman at the white house, and Edward Lawrence is at the Canadian Embassy in d. C. Lets star with blake. Go ahead. Reporter melissa there is a pretty big meeting going on right now not only in the white house but inside the situation room to be specific. The president we believe with top members of his team, we saw secretary of state mike pompeo walk in, acting defense secretary Patrick Shanahan as well, big four on capitol hill, nancy pelosi, kevin mccarthy, Chuck Schumer and mitch mcconnell. They are getting a briefing as it relates to ongoing tensions with iran. First comment on camera, Public Comment the president said iran made a very big mistake but also seemed to suggest that maybe this didnt make its way all the way up to the top, the top of the regime inside of that country. Watch. I find it hard to believe it was intentional if you want to know the truth. I think it could have been somebody who was loose and stupid that did it. Well be able to report back and you will understand exactly what happened but it was a very foolish move. That i can tell you. Reporter the president made the remarks as he was meeting with canadian Prime Minister Justin Trudeau talking about usmca deal. The commanderinchief did not give any indications how the u. S. Might respond to iran. Youll find out. Reporter are you willing to go to war iran . Youll find out. Youll find out. Obviously were not going to be talking too much about it. Well find out. They made a very big mistake. Reporter medical list sauve the meeting melissa, a meeting going on right now. Another one up on capitol hill involving congressional members. Iran very much the focus of walk top d. C. , today. Melissa. Melissa no doubt, blake, thank you. Canadas Prime Minister Justin Trudeau expected to talk to the press at any minute at Canadian Embassy. Our own Edward Lawrence on the ground there. Edward, give us the latest. Reporter that Prime Minister Justin Trudeau getting ready inside embassy to talk about the direct pitch to get the usmca ratified here in the United States. He is coming from a meeting, from house speaking nancy pelosi, in capitol hill, in congress, to directly pitch her on getting the house to vote on ratification for usmca. Here is Justin Trudeau before that meeting. We have much to discuss. Obviously trade and good jobs for canadians and americans. How well continue to grow the economy in ways that works for the middle class and people working hard to join it. Reporter House Speaker pelosi has not set a date for that ratification vote. Instead named a working group of democrat to work with u. S. Trade representative Robert Lighthizer to tweak the deal. Democrats say there are not enough protections for workers. Also not enough environmental protections in this agreement. Robert lighthizer says it would be catastrophe if usmca was not ratified. Yesterday mexico ratified it. Canada is right now in the process of ratifying it. Their house of commons will come up with debate soon on this agreement. The Prime Minister needs this, because he has an election coming up in four months. He wants to be able to show voters that he can bring the deal to the table and finalize it. President trump also pushing the House Speaker for a vote. Means a lot of jobses for our country. A lot of wealth for all three countries. Were really competing against the world. Were not competing with each other so much. This brings us into a position where were not competing with each other. Were competing against the world. Reporter the president says they would pass the senate pretty easily, ratification there, but the house vote, neither vote has been set yet. The house is more of a challenge. Back to you. Melissa no doubt, edward, thanks for that. Here is lindsey bell, cfra analyst and lanhee chen, Hoover Institution research fellow. Lindsey, i will start with you. Very interesting and clever gamesmanship, sending trudeau over to speak to nancy pelosi directly. I was why are those two meeting . Oh, right, it is being held up in the house. She hasnt set a date. Canada already introduced it to their legislature. Mexico already passed it. She really, the ball is in her court. What do you think that conversation was like . How embarrassing will it be if the u. S. Cant ratify the agreement and canada and mexico get it done before us . It is good to see there is progress being made and that trudeau is speaking to pelosi and hopefully instilling some good intentions with her and hopefully we can see them move forward on this because we need to see this uncertainty, this one trade uncertainty removed from the market. Melissa lanhee, do you think this is marked better than nafta than it is replacing . Look, i think there are improvements in this usmca deal. Frankly i think the protections for labor and Environmental Issues are quite strong in this proposed deal which is why im a little confused that it has been sidetracked but absolutely it would be a huge boon to the United States to be able to get this across the finish line, none of least which we have lot of trade between the United States, mexico and canada that would be enhanced by this deal. Frankly not having a deal creates significant drag, not just for companies who have to deal in this space but for the economy and for growth more generally. I think it is an important deal. I do Hope Congress moves to act on it soon. Melissa dont move, guys. Lets go back to connell in beijing. Connell as we wait for Justin Trudeaus News Conference, melissa we stay on the subject. Scott at this green, good to see you today. Edward lawrence says Justin Trudeau has poll sixths of his own he is dealing with an election in four months. How do canadian politics play over with the usmca . Good to see you, connell. You cant take politics out of politics anywhere in the world particularly in north america where we have free and open elections. Youre in beijing, part of Prime Minister trudeaus puzzle that is vexing for him is how canada is being treated by china actually in relation to canadas relationship with the United States, what it has done with huawei, et cetera. So Prime Minister trudeau has two things really, big things on his plate in washington today. One is help with china. Which i think he will get. I heard the president say he will help to advance the g20, the other one as he has been report sergeant usmca which is top in mind of our organization. What is the canadian perspective on their relationship with china, since you brought it up . We know already, it was canadian authorities arrest the huawei ceo with the extradition request coming from the United States. Is the view in canada on trade similar to the United States view, visavis china . Well, im american but what i understand that canadians are looking at is they have got to trade with the world. They have got to figure out how to open up markets around the world. They want to get it right with the United States and they dont want to be punished by china or retaliated against by china which is important market for them for actions theyre taking in actions with rule of law of United States. Their view is get it right here in north america. Get the usmca, or cusmca whatever your perspective across the goal line, together see if we can deal with china. Connell a quick thought, scotty, aslan he was saying is this usmca better than nafta . What is your take or perspective on that . It is miles and miles better. When nafta was first written the world wasnt globalized, the whole internet ecommerce sector that is so big in our economy didnt even exist. So the new agreement is not perfect but miles and miles better than the existing one. There are digital chapters. There are standards for labor and environmental provisions that are in the agreement, not as a side letter. So i could go down the list of the new provisions but it is much better. I agree with the earlier commentator, it has to get passed asap. Connell yeah. U. S. House of representatives seems to be Holding Cards on that one. Scotty, thanks. Get back to melissa in new york. Thank you so much. Melissa slack closing up 48 on first day of trading. Lets go to gerri willis on floor of the new york stock exchange. Gerri. Reporter what a incredible performance in direct listing. Very unusual and no investment banker involved. They match buy and sell orders. It took three hours and change to open. Reference price at 26. It comes in at 39 and change, up 50 . The valuation, 26 billion. We were expecting 16 billion. Make comparisons with other companies in the category. Look at uber first day trading down 7. 6 . This shows you in part the power of the trading day, right . We had incredible move by the s p today. The dow up 249 points on the day. Uber came to market, wow, the markets went down dramatically. That did not help uber. Beyond meats. This is a stock in aficionados category. People love the stock because its a plantbased meat substitute. It is very trendy, incredible performance there. Lyft up 8. 7 . Doesnt even compare. Pinterest has had a good ride on first day. But often has to do what is in favor what people want to see and right now people want to see enterprise software. They lightning having to do with business and nobody seems to care most of these companies have no earnings whatsoever. Melissa, back to you. Melissa were back to that, no earnings whatsoever and no one cares. Gerri, thank you. Back to connell in beijing. Connell consumers, melissa, impacted by trade. We asked people here in china about the influence of the trade war on purchasing American Products like apple products. Take a listen. I like using apple products, i have a preference for where the products are made. Connell what type of phone do you have . Huawei. Middle class in china not so much price. The phone actually does not influence us too much. The brand is convenient or good for my life i will choose it. Connell lindsey, lanhee are still with us. Lanhee, start with you on this one. A lot of news surrounding apple today, but on consumer side in china i found it interesting there is not a whole lot of nationalist backlash against the company. Apple is in competition here. It is very expensive product. Huawei and others give them stiff competition, seems to be real issue for apple and at least consumers. It is interesting, connell, one part of this trade war, trade dispute i think has turned over the last couple weeks is a sense that the chinese government, particularly xi xinping, is trying to use the nationalist angle more to play to his own domestic audience in china. Essentially saying to them, look this has become a matter of national pride. It will be interesting to see what the reaction youre getting there, if its a shortrun reaction, a longer run, it is really going to hurt American Companies like apple, but there is no question the longer this trade war goes on, the longer this dispute goes on, more likely china will use that nationalist rhetoric to try to bolster its own position in the negotiation. Connell they may be trying to. In fact i think fair to say lanhee, they are trying to. Lindsey, you dont see response from people to that but they will respond like people anywhere in the world to price pressure. Apple has to respond to the tariffs. That might be a bigger story here. Apple looking to move much of its manufacturing or outside of china. That is kind of move even if we get a trade deal, not like they can snap their fingers and go back. Apple is so big if they commit to that is pretty much where theyre going, right . Absolutely. It is interesting last week, foxconn, the biggest manufacturer of iphones operate in china saying theyre willing to back apple and move out of the country. Theyre investing hundreds of millions of dollars in india and other places looking at vietnam to manufacture these phones. If foxconn leaves china they will take with it a lot of jobs. Even if a trade deal gets done sooner rather than later, if apple is left out of it, there will be pressure on Companies Like apple to really think about their supply chain going forward. There may be pressure to remove themselves from that country. Connell yeah. That might be a bigger story in trade, that these supply chains, these stories, they dont go back to the way they were even if a deal is signed. Thank you to both of you. We appreciate as we move on. More from beijing with our special coverage from china this week, what residents on the ground think about the trade war and future relations between the u. S. And china. More live from beijing coming up. Melissa. Melissa plus a direct attack on a u. S. Military asset. More on the latest provocation from iran amid already heightened tensions in the middle east. Why officials fear the escalating conflict could be on the brink of war. Searching for answers, the fbi taking new action after a least 11 americans mysteriously died at hotels in the Dominican Republic this year. We are live on the ground with the latest coming up. Think twice and think hard about going. You dont think it is going to happen to you. It does. Me personally and the family, no, were never going to the Dominican Republic again. All Money Managers might seem the same, but some give their clients cookie cutter portfolios. Fisher investments tailors portfolios to your goals and needs. Some only call when they have something to sell. Fisher calls regularly so you stay informed. And while some advisors are happy to earn commissions whether you do well or not. 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It relieves pressure, bloating and discomfort fast. So no one needs to know youve got gas. Gasx. Connell were staying on breaking news awaiting comments from Justin Trudeau, the canadian Prime Minister any moment now set to address reporters in washington at the Canadian Embassy after meeting earlier in the day with President Trump and nancy pelosi on the usmca trade deal. That News Conference set to begin any moment. Well bring you comment as soon as they start. Melissa. Melissa meantime the pentagon just releasing footage of the u. S. Naval drone shot down by iran. This as President Trump meets with top congressional leaders at the white house to discuss a potential response to the situation. Fox newss Jennifer Griffin live from the pentagon with the latest. Jennifer. Reporter pentagon officials deny the drone was shot down over iran. They released video of actual moment of impact of the Global Hawk Drone being shot down by advanced iranian surfacetoair missile. The u. S. Navy drone was shot down roughly 20 miles from irans shoreline. International airspace is 12 nautical miles. They say the drone was flying over the strait of hormuz. This is air force commander in the gulf speaking from u. S. Military base in qatar. This was an unprovoked attack on a u. S. Asset that had not violated iranian airspace at anytime during its mission this attack is attempt to disrupt our ability to monitor the area following recent threats to International Shipping and the the free flow of commerce. The reports that the aircraft was shot down over iran are category false. Reporter we know general joe dunford, chairman of the joint chiefses took with him to the white house military options. The president gave himself and iran leaders an out, perhaps to get them to the negotiating table. It was over International Waters, clearly over International Waters but didnt have a man or woman in the drone. Didnt have nobody in the drone. Would have made a big difference, let me tell you, would have made a big, big difference. Reporter last week the u. S. Military accused iran of trying to shoot down another reaper drone was over the tankers that were hit by the limpet mines. Melissa. Melissa fantastic reporting today, Jennifer Griffin, thanks for joining us. There are so many theories about this right now. Im interested in your take. What is it . For the big picture, melissa, we are tightening the screws around iranian interests and in the region. This explains why iran is trying to do the small strikes for now and in this case, i would argue they knew what they were doing. They were targeting a drone, unmanned drone because they know if the American Public would see american victims, that would give the president a lot of fuel to be responding. So at the end of the day, the white house will decide at what time, where, how to respond to this iranian attack. Melissa so i mean, they want to provoke but not too much. What is the value in that . They need to continue to provoke so that their public, remember they control four reg goals in region, iraq, syria, lebanon, yemen, all these countries will applies if iran is weakened this he continue to show strength but not beyond red line to harming americans. They could shoot anytime, bomb anytime our forces in iraq. They are very careful about that but they will continue with those small kind of actions. Melissa what do you think the appropriate response is . There are a lot of scenarios. Depend on big picture what the administration wants to do. If it feels it has all the political strength, unity, resources to do a largescale against iranian military, not necessarily on the brown or from the ground, then they can but if they feel politically they dont have the strength, they dont have the backing at this point in time, we will have to respond but not to trigger a much wider conflict were not ready for now. Melissa yeah. If they respond with force, what happens from there . What does, i mean what does the u. S. Gain out of that, whats the impact on, you know, everyones relationship in the region is. Look, iranians have to do this because of their equation. They have to show strength. We have to respond as well because we have allies on the ground because the iranians will go one inch further. The rules of engagement, if you are attacked, this is a drone, next time could be a manned vehicle or attack or any other thing. So we are in a very delicate situation we have to respond but not the way iranians would expect it. Going back to the base where missiles were launched. That doesnt have to be that way. That is what the administration is discussing as we speak right now. Melissa they must expect a response of some type, so, i dont know, do you go bigger or smaller than that . Do you go bigger to push them back on their heels or, it is hard to understand the chess game here if everybody kind of knows what should come next . You called it exactly what it is, it is a huge chess game. They know it will be a strike. They want to use it to counterstrike and show there are strong on the ground but they have another message. They know that we have political divisions in washington, and they fear that between now, if they can withstand between now and end of the year, next year is the Campaign Elections year. So they are trying to show strength to a certain point, not to be hit back against by us with a fullfledged capacity of the american military. Melissa what is the price of not responding . That would be bad. If we dont respond one way or another, maybe through allies or others, this will encourage iranians. We are locked, both of us in a game whereby they will strike. We would have to counterstrike, not to fullfledged because we dont have readiness i suppose on political level. Melissa walid phares, thank you so much. Connell . Thank you. Connell melissa, tensions, similar with iran, chinas president xi xinping is not here in beijing today. Instead he is in north korea. The first time he has gone there during his tenure as chinese president looking to bring back kim jongun to the Nuclear Negotiating Table according to reports. North korea was willing to be patient, hoping the u. S. He did not refer to by name, would meet north korea halfway on solutions n return president she pledging that china would help north korea with its own security and development. That is a big story here in china today. Much more from beijing as we continue. What do the people of china think about ongoing trade war with the United States. What we found out is coming up next. Melissa i cant wait to see that. Im so curious. More on escalating tensions between the u. S. 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The trudeau News Conference will be carried live here. Well bring it to you as soon as it begins. Edward has been told it will start any minute. A little more on the view here in china. We asked residents on the ground about trade talks between the u. S. And china ahead of the g20 meeting. Take a listen to what we found. We are not influenced by this trade war. I dont think this kind of a trade war will affect the lives of people, communications. Because of the trading war, many, chinese factories now starting moving to outside. I hope there is like the trading war can, can end, like peaceful. Connell here now, ambassador stapleton roy, former u. S. Ambassador to china, a distinguished scholar at the Wilson Center Kissinger Institute on china and the United States. Ambassador, thanks for joining us today, i would say, i dont know if surprise is the right word, but it might be a little bit surprised people in china say for the most par daytoday lives theyre not necessarily feel this trade war yet. I think that is similar what we have in the United States. Many are worried though about the future. How do you think that dynamic, how the people in each country are feeling affects the talks, or do you think it has an impact on the talks . Trade wars take time to have their effect. So im not surprises that the chinese are claiming they dont feel the pain yet. Many in the United States are taking the same position. But i think both sides are being hurt more than theyre letting on. Connell in what way . Well, the imf is estimating that china could lose 1. 6 of its gdp growth because of the trade war. We are already having to subsidize our agricultural exporters by over 10 billion. And the small businesses, that support our Agricultural Sector are going bankrupt and we are not subsidizing them at all, so the pain to our economy is not showing up in our statistics yet, but you can see it in the daily lives and reports you get from local areas. Connell right. You definitely see it in the Farming Community in the night, there is no doubt about that. That leads us into g20 when President Trump and president xi will meet. I spoke to a senor official at the ministry of commerce at beijing yesterday, about what they expect to come out of g20, hey, what is the big headline going to be after the gettogether . Here is what he told me. Lets listen. Well come back and talk bit. Here it is. Translator i imagine that the headline will be the two leaders had a good meeting, reached some consensus and set the direction for the consultations to solve the problems. Connell more talks, thats a win . Translator so the talks are not an end in itself. Its a means to an end. Connell well, it does sound ambassador, that the expectation is, you sit down, youre back at the negotiating table, you agree to talk again. I dont know if that is lowering the bar, seems what theyre thinking here in china. What are you expecting . Im expecting more than that. Connell all right. I have to interrupt you, ambassador, im sorry. That breaking news were waiting for, that News Conference is beginning. Here is the canadian Prime Minister Justin Trudeau in washington. A chance to talk how we can continue to Work Together to improve the lives of working people to grow our economies. Trade was of course top of mind. With over two billion dollars of crossborder trade every single day we cant overstate how important free trade is to the canadau. S. Relationship. Millions of people and businesses depend on a Strong Economic Partnership between our two countries to make ends meet. That is why we worked incredibly hard with our north American Partners to secure a new nafta. Which will protect our supply chains, create new opportunity for people, and grow the middle class. [speaking french] melissa while theyre doing the french part, let me ask you real quickly, this include new passages on labor and also on the environment that were sidebars to the nafta deal. That is a big difference. Also more power to the union as well. This is, i would say a bipartisan deal that really should satisfy both sides of the aisle. Obviously trade is probably the main reason that Justin Trudeau is in washington today at the white house but i would also say china is a factor. Especially with huawei, extradition hearing of huaweis cfo who is being detained in vancouver canada. Continue Work Together to address these issues, as well as other challenges we both face like steel and aluminum dumping and other unfair trading practices. We also talked about the importance of keeping our shared border, secure an efficient, so we can reduce trade barriers. Delays at the border can easily disrupt operations for canadian and American Business owners. So we want to remove some of these obstacles to expand trade while keeping our people safe. In this vain, the president and i committed to ratifying the new preclearance agreement this summer which will make it possible to extend preclearance of travelers at land, rail, marine facilities in both countries as well as at additional airports. It will also enable the preclearance of cargo. We also talked about implementing the Entry Exit Initiative this summer. Thousands of people cross our shared land border every single day, whether it be for business or travel purposes. The entryexit initiative will make this process more efficient, while making sure our border remains safe and secure. It is also worth noting the Initiative Includes provisions aimed at protecting individual an privacy right which is of prime importance to both the president and me. Another thing on the agenda today was the Opioid Crisis and its impacts. Unfortunately this is another challenge we share with our southern neighbors. The president and i have both seen the devastating consequences of Illegal Drugs on individuals, on families, and on our communities. Building on existing efforts we agreed to codevelop a strategy to address every aspect of this crisis. We will continue to Work Together at every level, municipal, provincial, and national to save lives. [speaking french] melissa susan, that is amazing, so much more in the deal than was in nafta. Theyre talking about border security, about preclearance or goods and also for people and dealing with the Opioid Crisis. Yeah. Melissa interesting after so much friction between the u. S. , mexico, and canada, handwringing how we were alienating our allies, that they are more eager to pass this than us and everyone is happy. Mexico passed it and also up to the legislatures in the canada and u. S. To pass the usmca as you heard from Justin Trudeau heard from both sides, two billion in trade crosses border. I would caveat this by saying political element of Justin Trudeau. Melissa okay. Sciences, word of entertainment or on matters of National Security, we must continue on this tradition. Not only does collaboration lead to growth and pros prosperity, it helps us tackle challenges efficiently and effectively. In the digital age countries are grappling with new threats every single day. Rapid pace of change coupled with advances in technology completely transformed the way we talk about National Security and address new challenges. One thing the president and i discussed, President Trump and i discussed during our meeting was the need to improve our collective mineral security. Critical minerals used for defense, manufacturerring and Hightech Industries are essential to our economies, to you are our security. We agreed to develop a strategy to encourage more crossborder collaboration and investments to insure future competitiveness of our Mineral Industries and the safety and security of our supply chains. These are just some of the things we discussed over the course of our visit. Of course i also spoke at length with the president about the wrongful detention of two canadian citizens in china, continue to call for their immediate release. Next week President Trump and i will have a chance to continue some of these conversations in osaka where we will both attend the g20 summit. Im looking forward to building on the progress we made this week, working with our partners to address the most pressing issues facing our countries. Once again thank you all for joining us. Im now happy to take your questions. Reporter glen mcgregor. Cbc news. Thank you for taking our questions. At this time the g7, the president left and called you weak and dishonest. Wonder if you can talk about how your personal relationship with him as evolved in that time up until today . One of the things that weve done since the very beginning of our mandate is, maintained the focus on the things that matter in this relationship. That is the flow of goods across our border, the reduction of challenges that we face and continue to focus on whats good for the middle class and people working hard to join it in both of our countries. Throughout the nafta negotiations which were contentious at times absolutely, we remained focused on things that really matter, because of that, weve come through it with a very strong, positive relationship with the United States and indeed, are moving forward on ratification of an accord that will secure this important relationship for years to come. Reporter President Trump still has not made a official state visit to canada. That is not usual for u. S. President s. Have you discussed that, or you invited him to come to ottawa . I was pleased to welcome President Trump up to beautiful where we moved forward on number of initiatives. Just a few weeks ago i was happy to welcome Vice President pence to auto ottawa to continue to ds important initiatives were working on to grow our economies, support our middle class. We will continue work collaboratively with our american friends and partners to create opportunities for canadians and citizens across the borders. Abigail, global news. Were you able to sway nancy pelosi at all in terms of ratification and did anything concrete come out of your meeting on nafta . We had a very good meeting not just with Speaker Pelosi and leadership from both sides of the house. We had a very frank and positive conversation about the path forward to creating a better opportunities for citizens, for workers on both sides of our border. I fully respect the conversations and discussions going on in the ratification process. Offered to be helpful in responding or allaying certain fears but canada will not get involved in the ratification process that the American Congress needs to go through. [speaking french] as you heard there he admitted at times negotiating this new usmca was contentious in those discussions. Weve seen the rocky parts of the relationship between canada and the u. S. , trudeau and trump. Whether it is when trump rejected a meeting with him at the u. N. General assembly or trudeau said it was kind of insulting to have those aluminum and steel tariffs put on your largest trading partner just across the border. We got that full lift on steel and aluminum tariffs was the concerns we have around transshouldnt transshipment, dumping in to the north American Market remains a concern by canadians and americans. Why we committed to work closely together to insure the security of our domestic steel and Aluminum Industries and why we have a very close collaboration set up to move forward on that. Indeed im pleased to say today the Senate Just Passed and therefore we have passed in record time our bill on safeguards to insure that the north American Market on steel and aluminum remains protected from outside influences. Reporter Prime Minister in the horse trading that is going on in d. C. Over ratification of nafta if there are changes to it, will you reopen the agreement . How will you deal with changes that come from d. C. . Would you do them by cabinet approval or would you give parliament the opportunity . We obviously said a number of times we are very pleased with the deal we were able to secure. That it insures good jobs and good out comes for canadians and indeed people in all three of our countries. And we are concerned any reopening of nafta could lead to not just lengthy, further negotiations that we all were quite pleased were behind us but also may lead to worse outcomes for canadians and for canada. We recognize, however, that the u. S. Is going through its process and we remain alert to potential challenges and opportunity that may come through that process. Reporter just to follow up on that though, how do you intend to approve . Conservatives say if any changes about biologics as democrats are suggesting they want ability to tackle this again, address the changes, make additional changes, what do you say to them . We made it clear we need to have the right deal for canadians. We need to grow our economy, securing, protecting canadian workers. Were pleased by the great work done by chrystia and her team, environmental provisions, securing indigenous provisions, securing support for labor, for a a number of support for workers in three country as we move forward with, well keep that as to the primary focus. As what could happen hypothetically, canadians can be reassured that were going to insure that a deals passed for canadians as we secure access to the American Market. Reporter the global mail. Did you specifically ask President Trump and president xi and the trade actions china is retaliating against us . What did the president do, is there something substantially he will do for canada or move on to other issues . We had exextensive conversation about the situation canada is facing in regards to china and unacceptable situation that two canadian citizens are facing in the arbitrary detention by chinese authorities of two canadians. We discussed some of the challenges that china is presenting not just to canada but to different sectors of the Global Economy and we certainly agree that we will continue to Work Together as friends and allies to, to resolve these and other issues. Reporter did you raise the extradition with President Trump . If so, did you ask him to take the extradition off the table or stop the extradition proceedings if he makes a deal with china . As i said we had extensive conversations on the situation with china t was a great opportunity for to us really have important discussions about china, about canadians who are detained and potential paths forward. Well continue to work with the safety, security, and safe return of the canal canadians who were arbitrarily detained as top of mind. [speaking french] melissa, you heard Justin Trudeau getting u. S. Help and use side negotiating with china when it comes to the detained canadians in china. Some say those two canadians were arrested because canada followed through in the u. S. Request to detain the huawei cfo meng wanzhou when she was changing planes in canada. There were reports that Justin Trudeau could not get a meeting with chinese president xi xinping in the meeting in osaka, japan. He is trying to get trump on his side, getting some leverage of negotiating release of the two canadians. Melissa certainly the thing he mentioned the most so far. He is talking about the trade deal being put in place. He mentioned his own citizens that he needs to get back. They pressed him what he has asked the president to do. There is such a change in tone between the two leaders, you have to think this is one of the reasons because he definitely wants help on this front. Yeah he needs President Trumps help on this front in particular. Also amentioned to you, there is a political element. Were four months away from a general election in canada. So Justin Trudeau is fighting it out with the conservative leader. Some say this is a very tight race. He is in washington, d. C. , bolstering relations with canadas largest trading partner, the u. S. And showing canadians i can get the u. S. , big brother with me as he goes into tight voting race with the opposition. Melissa that is absolutely true. From the looks of this deal, everyone is getting something out of it. Not like there is a loser in the trade deal as far as the analysis weve seen so far. Because it also addresses some elements of the internet and new digital world. Very good point. Especially ip. Intellectual property protection. Very pleased there are many, many indigenous communities across the pipe line route supportive of this project. Signed impact benefit agreements that will be moving forward as partners on the pipeline as we construct it. We know that moving forward in a way that both creates opportunity to create good jobs and grow while moving towards a cleaner, greener, economy, is something that all canadians and indeed all citizens care about deeply around the world. That is why we moved forward in a model way on consultation an partnership with Indigenous Community and why were going to continue to make sure that Indigenous Community are at a heart of the path forward, including we announced potential indigenous ownership of the pipeline, that could be 25 , 50 , or even 100 ownership by Indigenous Peoples in this country, in our country of the, of the expanded pipeline. We recognize, however, that there are people, including Indigenous Community that are in disagreement in the way forward that we have chosen. We will continue to listen to them and work with them to allay their fears an concerns. Reporter with the ap, thank you for the opportunity. I would like to ask you about mexico, mr. Prime minister. President trump and president Lopez Obrador to have a 45day period for President Trump to consider whether or not to impose the 5 tariff on mexico. So i wanted to ask you, if that 5 tariff becomes a reality, what do you see the impact, not only for the treaty, for us and the treaty but also for canada . Pleased to see the Mexican Senate vote overwhelmingly to move forward on ratification of the new nafta agreement. There is no question that, some of the strong elements in the deal are going to be good news for workers in mexico. We, insured that there are strong labor standards. That it will be ultimately beneficial for the mexican people. We understand difficulties involved with the u. S. Southern border but we will not be weighing in on bilateral issues between mexico and the United States. Last question. Reporter thank you, mr. Prime minister. I have a question melissa so this is Prime Minister trudeau of canada he continues to answer questions about the usmca and let me bring you up to speed what he said so far, hailing the agreement and all of the things it does including you know, working together on the Opioid Crisis, in terms of also creating preclearance for cargo and as well as, for people. And, talking about putting in provisions for both labor and environment that didnt exist in the nafta agreement. In the questions one of the most interesting ones they asked, how is your conversation with nancy pelosi . Because he went and had a oneonone meeting. The thought is she is the Thing Holding up usmca now. He didnt give anything on that either. He said i wouldnt want to get in the middle of what is going on in congress in the u. S. He was very measured, he was very positive, and didnt go for any of the bait thrown his way, the first question out of the gate was, how do you feel about the fact last year, when you met the president he walked away and said you were weak and we continue to focus on the deal. Susan, i will send it over to you. Walking a tightrope. That is a very good way to describe it, melissa. What we should take away how intertwined economies are. We heard canadian Prime Minister Justin Trudeau talking about canadian pipeline. That is shared interest between the two countries when it comes to natural resources, big exports for canada. Mostly it is about trade and economics. The usmca represent a big opportunity, especially for canada. As you mentioned, opportunity created for both. We do have higher wages being promised on both sides for everyone really across this north american, south american, including mexico, the scope that we have, because the usmca means that higher wages will have to be adopted with most of the cars being built and shipped across north america and mexico in the future. All in all, we should take away it is an important economic relationship. Melissa lets bring in Scotty Greenwood from the canadian American Business council. Scotty, what is your take . What did you hear . I thought it was really good visit. He is still talking about it as we talk. What he mentioned though is not just the usmca, the new in the tax but other agreements not part of the trade deal but incredibly important for our economy. You talked about it. How we manage our common border. How we deal with the movement of goods and people and cargo across the border and addressing together things like the Opioid Crisis. That is new. That is not something people really expected to come up today. I give him credit for raising it. It is classic day in washington, where the Prime Minister meets with all of the house leadership, democrats and republicans but on the senate side theyre dealing with iran. That is classic. In canada and u. S. Is focused on extremely important relationship with the United States and the United States is focused on yes, canada, but also the rest of the world. Painted a picture where we are in this relationship with the economy and Business Issues being most important. Melissa yeah. Very interesting. I think we have Edward Lawrence with us as well, who can give us a little bit more of the picture from there, reporter just walked out of the briefing. Very interesting. You touched on a lot of the points. This clearance agreement is a very big deal that would work in conjunction with the usmca. This would mean goods can go back and forth across the border faster, people could go back and forth across the border faster. There was some 700 billion worth of goods and Service Going back and forth between the canadians and the u. S. In 2018 alone. 700 billion. If they could speed that process up, that number may go up and under the new usmca agreement, if you have this in combination with that, that could really jumpstart the trade even more than it is between canada and the u. S. It was very interesting to me that as the Prime Minister struck very sort of somber, he didnt seem angry, didnt get upset. He said it was a very good visit and very measured in his comments when he was talking about nancy pelosi, the discussion. He said he respected the u. S. System. However, he did make his point saying this is a good agreement and canada did not really want to go in and change anything in this agreement. He said he told the House Speaker that within labor protection, there was enough labor protection in this agreement. He said workers would be protected and it would grow jobs. He made his pitch without interfering with our process to ratify this. It was a very interesting conversation. Melissa absolutely. Talking about no dumping and this continent working together with the rest and not letting the rest of the world come between us. It was fascinating. Thanks to all of our group i want to send it back to connell in beijing now. Connell all right, thank you very much. We wrap up our coverage of the challenge of china here in beijing. Its been quite a week here, struck by how much time Justin Trudeau spent talking about the relationship between canada and china. Didnt answer a direct question there about the extradition of the huawei cfo but you could see how intertwined all of this is and how it has become one big story. We have been through a lot talking to government officials and talking to, as you saw today, people on the ground here in china getting their take on the trade war. All leading up to the g20 meeting on the sidelines of that between president xi jinping and President Trump. That will take place in japan next week. I want to take a quick moment to thank our terrific crew on the ground whos been with me all week, and i believe we will look at this motley crew here. We have been through a lot. Thank you, guys. Not a lot of sleep but a whole lot of work. We covered a lot of ground and hopefully people learned a lot about china. I will see you back in new york. Melissa you gave us so much exclusive access, we loved hearing from huawei themselves about how they picture whats going on in the world, their perception. Dji, the largest drone maker, drones being top of mind right now. Also hearing from the people on the ground, what their impression of us is. Terrific reporting from there. I miss you, im ready for you to come back and join me in the studio. That does it for us. The market is up 250 points on the day. Iran made a big mistake. This drone was in International Waters, clearly. We have it all documented. Youll find out. Youll find out. Youll find out. David tensions are high as President Trump warning iran that they made a quote, big mistake by shooting down a u. S. Military drone in the strait of hormuz. Trump, congressional leaders and intel officials are all just ending a meeting in the situation room at the white house. We are going to get you the latest from that when we have it. Hi, everybody. This is bulls bears. Im david asman. Joining me today, kristina partsinevelos, thank you for taking over yesterday, liz pe