U. S. Trade representative Robert Lighthizer is making his second appearance on capitol hill today. This morning, he was before a House Committee and was answering questions from the Senate Finance committee on President Trumps trade policy. Ourselves in future crisis, but we have to find a Smart Solution that accepts the realities that trade is fundamental to our survival and prosperity. In the long term, trade is a key part of the solution because it promotes freedom. It provides customers for our best in the class Agricultural Products. It promotes entrepreneurship and independence. And particularly trade empowers Small Businesses that are the backbone of our communities. In fact, 97 of the u. S. Exporters are Small Businesses. A good start to empowering people and fixing our economy is making sure as many people as possible have the option of being their own boss. We owe it to them and their communities to press for even more opportunities. This is especially true because our tradi
Livingstone, Deputy Director in our Global Energy center where i need to work on climate and advanced energy. Thank you very much for joining us here today. Its a terrific to see a full room, particularly amid the dark days of august when so many folks in dc leave for cooler or at the very least, less humid climates. It is surely a traffic registration of interest in this topic and before we get started let me give a big thanks to zach strauss and are Global Energy and art interns who are instruments and making today happen along with our talented medications and events team. They are truly a testament to the assets and professionalism of the Atlantic Council. Dive in to todays discussion by noting that not only are you here because youre fascinated by the narrative that surround the climate challenge in the Energy Transition but you are likely also very interested in the narrators that help us to understand the complexities, ambiguities, leading characters in the emerging solutions at
Lets look at what this materials move means for the rest of the world. The consensus is that will be damaging not fatal for the United States. The reason china dominate the market is not because it is the only place where gallium and germanium exists, but because it is by far the cheapest place you can get them from. You dontjust dig them up from the ground, they are derived from a more complicated Reduction Process and china has that capability. So governments and businesses will have to rely on cheaper substitutes and alternative sources. It means prices will go up, it means some products might be less effective and some production right be delayed. So this sort of poses a bit of an existential thread for western industry, its the gradual erosion of capability. But in a broader sense this threatened the overall narrative of globalisation, the idea that International Markets will be able to deliver what you need, when you need it at the price that you need. Derisking is what western g
What this materials more means for the rest of the world. The consensus is that will be damaging not fatal for the United States. The reason china dominate the market is not because it is the only place where gallium and germanium exists, but because it is by far the cheapest place you can get them from. You dontjust dig them up from the ground, they are derived from a more complicated Reduction Process and china has that capability. So governments and businesses will have to rely on cheaper substitutes and alternative sources. It means prices will go up, it means some products might be less effective and some production right be delayed. 50 some production right be delayed some production right be dela ed. , delayed. So this sort of poses a bit of an delayed. So this sort of poses a bit of an existential delayed. So this sort of poses a bit of an existential thread i a bit of an existential thread for western industry. Finding a place for western industry. Finding a place for for west
Order. Without objection, share off the rise to the clearer recess at anytime. This hearing is entirely on youll test when it secretary the treasury of the state of the International Financial system. Without objection, all members of five minutes within which to submit extraneous into aerials to the chair for inclusion in the record. I will note of the outset of this hearing we have a hard stop as a crew to see the secretary at one pm this afternoon. We will strictly observe it. Now i recognize myself for four minutes to get an opening statement. Welcome, secretary yellen. I appreciate you being here today. Todays hearing is about the state of the International Financial institutions. I want to take a minute to talk about the debt ceiling crisis that we narrowly avoided. First, were all glad that they seized behind us and. No one wanted to default no legislative branch official no executive branch official your statement says waiting until the last minute hurts american credibility i