promised in the wake of brexit. as place, a commitment to cooperate on defence, trade, a deal on data protection and ways to regulate new ai technology. the uk prime minister held this approach as a better response to the challenges the two countries face. . ., ., . challenges the two countries face. ., . ., ., , , face. the economic relationship has never face. the economic relationship has never been face. the economic relationship has never been stronger. - face. the economic relationship has never been stronger. the . has never been stronger. the trade has never been stronger. the trade is has never been stronger. the trade is worth hundreds of billions trade is worth hundreds of billions of pounds or dollars a year. billions of pounds or dollars a year. over billions of pounds or dollars a year, over1 million of our citizens year, over1 million of our citizens in year, over1 million of our citizens in each country work in each citizens in each country wo
promised in the wake of brexit. as place, a commitment to cooperate on defence, trade, a deal on data protection and ways to regulate new ai technology. the uk prime minister held this approach as a better response to the challenges the two countries face. . ., ., . challenges the two countries face. ., . ., ., , , face. the economic relationship has never face. the economic relationship has never been face. the economic relationship has never been stronger. - face. the economic relationship has never been stronger. the . has never been stronger. the trade has never been stronger. the trade is has never been stronger. the trade is worth hundreds of billions trade is worth hundreds of billions of pounds or dollars a year. billions of pounds or dollars a year. over billions of pounds or dollars a year, over1 million of our citizens year, over1 million of our citizens in year, over1 million of our citizens in each country work in each citizens in each country work in each
we have to get it back. trish: the president saying america is not going to get ripped off anymore when it comes to trade. is this the right time to make a stand? art laffer, the former economic adviser under president reagan. he said he doesn t like this one single bit. art, you and i have talked at length about this. tell the viewer why you re so concerned and so worried about the prospects of tariffs right now? i think trade president trump is negotiating and i hope they gets the deal with mexico and canada and i hope this never comes into play. but if we were to put on tariffs, it s not good. why would you deprive americans of high quality, low cost foreign products? it makes no sense. we buy a lot of products from abroad. the trade deficit that they talk about is the capital surplus. these are all of those foreigners investing in the united states. the only way they can invest in the united states is if the u.s. has a trade deficit. they re providing jobs here in the u.s.
i don t think that the trade problem is anything other than bad trade deals with countries, which i hope is what trump is focusing on. trish: so bad trade deals with countries. yes. trish: and there s examples of that? yes. tppf was a big problem. i think also nafta has many provisions that make it very unfair and incorrect and not really free trade. the tppf, japanese nontariff were excluded. they shouldn t be executed. they put in all sorts of social issues trish: the intellectual property. want to make sure we have intellectual rights but we don t. would you have to worry about the social objectives. trade is trade. you should just have a flat free trade and let everybody trade freely across the board. is it really flat and fair?
country like water. sarah huckabee sanders, the press secretary saying none of our trade allies should be surprised about any of this because the president has been talking about this since the days of the campaign. listen here. i think they should have been well-aware that again, something that the president has been shy about. he s been talking about this for quite some time. so if they were caught off guard, they haven t been listening to what he s been saying about talking about and how he s promised to make good trade deals and make free, fair and reciprocal trade in this country. for historical purposes when the bush administration posed the tariffs, there were plenty of exemptions. canada and mexico were exempted and other countries. the president has said no exemptions. thin holding out the possibility that canada and mexico, hey, if you give us a fair nafta deal, maybe we ll think about taking those tariffs off.