Minutes. Welcome to our panel on trade on the internet. My name is daniel activates. I am honored to be your panelist today. Before i get started and introduce the panelists. Were not only talking about this because of the sheer commercial impact, which michael hinted to and anyone who pretends watch the stock market this days. It is also about data. It is about its importance to crossborder trade. Is about ip, and its about privacy. I will throw a quick statistic at you, then i promise i will not pretend to know much more, but between 2005 and 2014, crossborder data flows increased nearly 50 times. That means that this is a brand new exciting and kind of terrifying problem for us. Those crossborder data flows are also generating more than 3 trillion a year in economic revenue. Which is a staggering number. Its not to say does all rainbows and butterflies. These opportunities come with a lot of risks. Thats what were going to get out today. Let me introduce our fantastic panelists. I w
Tariff bills. The underwood tariff in 1916, tariff rates rose much higher under those bills than smoot hawley, but all of those bills represented how congress and the president set trade policy, through completely changing the tariff act, which is really kind of a dinosaur these days. We stopped doing that with the reciprocal trade agreements when fdr was president and looked as reciprocity as part of trade and that then became improved under the trade expansion act of 1962 and then even better exin my view, under the trade act of 1974. So congress does not really respond through we are looking at other of fews for getting the same result the question about Financial Services services and free trade and who needs free trade, i can tell you shortly after 9 11, president bush was very interested in negotiating Free Trade Agreements with countries in the gulf, in the middle east, for other injuries. Was hired by a central bank which had a tifa, trade and investment framework ask the admin
Anna a warm welcome to bloomberg daybreak europe. On anna edwards. Manus we have a feast of breaking news for you. A headline on airbus first of all. Adjustedst quarter ebit against an estimate of 326 million. Theyre confirming the forecasts and giving numbers for orders in revenue as well. Theyve been facing some production glitches thats been afflicting them with the newest in their highmargin jets facing some of the problems. They have suffered problems because of shortages from suppliers. Two suppliers both said they were addressing the issues but perhaps its something thats giving the Company Policy for thought this morning. Thats one of the companies were covering, airbus saying adjusted Free Cash Flow has come in at 1. 6 billion euros. Manus lets talk about the World Biggest cancer drug maker, roche. The company confirmed its fullyear there were talking about 2017 as being low mid singledigit growth and they been hoping to raise the dividend. ,irstquarter sales is a beat 2. 70 7
Im michelle carusocabrera. We have a new trading month under way. Its been a narrow mixed session and then some volatility here in the last few minutes because of what President Trump said. Nasdaq outperforming the dow and the s p 500 again hitting another record interday high. Speaking of highs, check out these names. Price line trading at an alltime high back to its i po in march 1999. Yes, that would be an alltime high. Electronic arts alltime high in 1989. Dales force, ditto, ipo june of 2004. Ceo marc benioff will join jim from San Francisco tonight on mad money. Jim cramer, of course. Melissa, check out shares of tesla up more than 3 today. So far the stock is up this year, get this, more than 50 . First, though, to dom chu with breaking news. What we are watching now is a move in the financial stocks, big bankrelated ones on the heels of bloomberg headlines saying that President Trump is weighing possibly a revival of the 1933 act, xheshgs banking operations. He told reporters i
Cspan 2 and watch anytime on cspan. Org. And listen on the free cspan radio app. Next, a discussion on the future of u. S. Trade policy and current trade Protection Measures proposed by President Trump. Well hear from former clinton and obama trade officials as they talk about protectionist policies. The role of the u. S. In the World Trade Organization, and President Trumps proposed renegotiation of the north American Free trade agreement known as nafta. This is an hour and a half. Glad to see everyone here. I am john mayo, a professor of economics, business and Public Policy at Georgetown Universitys Mcdonough School of business. I am also the executive director of our Host Institution for today, the Georgetown Center for business and Public Policy. I will tell you that we are delighted today to have a discussion on something very important, near and dear to the Georgetown Center, and that is the subject of trade policy. And in particular, we are going to examine the issue of whether