[speaking in native tongue] translator and we want to turn this into a highvalue added alliance that is ready for the future. Thank you very much. [inaudible conversations] [inaudible conversations] well, congress is on a weeklong columbus day break. Legislative business resumes tuesday. She was Hillary Clintons deputy chief of staff at the state department and is now working on this comes president ial campaign. After the meeting the benghazi committees top democrat spoke with reporters. Congressman mccarthy making clear what this is all about. We then of course have the handpicked member of the republican staff. To affirm what mr. Mccarthy had already stated we then have congressman hannah to reaffirm all of it. But even if we wanted to put words to the side, the question becomes, we have been asked to not listen to the words of mccarthy, not listen to words of discussed , and not listen to the words of hannah the look at the actions of the committee. We have a situation where is cle
Of third parties being excluded whether it is rules or market actors. I think one in which country loses Market Access, but as repeatedly pointed out, for the most part, we exclude agriculture, textiles, a few of my favorite industries, for the most part tariffs are very low. Market access is not the biggest deal in the world. With respect to rules on labor standards, if you look at labor standards, Environmental Standards, i think the u. S. And e. U. Are increasing pushing issues already in the ft as after the 2007 agreement with the United States. Con aggression agreement was very clear you will have all the agreements whether chorus or have you, well have environmental labor standards and that will also be the case. The third and last one will be regulatory. Here is where you have a lot of complication. Essentially, this is now the first time you might argue the u. S. Is now in the drivers seat with respect to global trade negotiations. We did agreements with morocco, bahrain and ot
The communications and technology subcommittee. Representative shimkus, thanks for joining us. Guest its great to be with you. Thanks for having me. Host and also joining us, david mccabe of the hill, thank you for joining us. Pleasure to be here. Host theres an effort in congress about who controls the internet, internet dominance, and you have a piece of legislation that deals specifically with this. Could you set up our audience and let them know what the issue is and what your bill addresses . Guest well, its called the dill the bill was originally called the dot. Com act, and it was about icanns transition of the eye january that functions, who is the keeper of the addresses, how the internet operates. And there is kind of an international struggle, and the u. N. And some people saying, you know, the United States should not be the keeper of the final vestiges of a contract, and we should have a multistakeholder approach. The Tech Community has gathered support for that, and we go
Some new type of trade restrictions that are there. You need to think about services, data, and how you can sort of use the trade agreements itself to throw some friction into global trade policy in the sense that you really want an agreement here, which can at least for the future divert trade in the sense that you push countries like china, india, brazil and other large economies in the world to become far more favorable to more of a western type of model of these issues. So if you find that sort of combination, it is going to be a fairly good agreement but i dont think were going to have higher hopes for going beyond that. I alluded a little to the geopolitics which sean spoke of. Phil, what do you make of the geopolitical arguments for the agreement . How important is it relative to the economics which frederick just articulated about . Is it about security or is it about writing the rules of trade before china and india and brazil do and is that important . I think it is both, bot
State of play there . Jim, are you following that . Well, a bit. Im not probably not as expert as some others are on this. But certainly i think youre right that the because we are two such gigantic financial markets, the opportunities in liberalization there or harmonization are tremendous. The benefits that flow from that are probably as large as anything you could think of in the entire ttip agreement that would flow from that. In the United States the reluctance on the part and i think we should be doing it. I think the reluctance in the United States is the passage of dodd franks and nobody wants its too new, nobody wants to tamper with that, nobody wants to tinker with that. I think it definitely needs some tinkering with, but nobody really wants to deal with dodd frank and the secretary of treasury, this is a little bit of a turf battle, the secretary of treasury saying thats our area. Trade negotiators dont get into these Financial Services issues, thats for treasury to negotia