about higher wages. it didn't work in nafta or with south korea. they promised 70,000 jobs in south korea. we've lost about that number of jobs. these trade agreements don't work. we're going to make the best of this we can and eventually it gets sent to the house. i have a chance of defeating it there. >> it was a really big day. an interesting day today. senator sherrod brown, always appreciate it. >> thanks chris. >>> joining me now nobel laureate in economics, formal economic adviser to hillary clinton's 2016 presidential campaign and author of a roosevelt report called rewriting the rules for the american economy. professor, you wrote a famous celebrated book with about free trade orthodoxy. you broke with the consensus that formed about the benefits of trade. what is your feeling about this trade debate that's happening right now over the tpp? >> well to put it quite bluntly, i think from what we've been able to see of the tpp, you have to remember usdr keeps these trade agreements secret. in talking to negotiators from other countries where there's more transparency than the

have understood is that all of these trade agreements nafta, cafta, relations with china and now the dpp. these are proposals that by and large are being pushed by corporate america, being pushed by wall street and the pharmaceutical industry. since 2001 chris, we have lost almost 60,000 factories in america. millions of decent paying jobs. trade is not the only reason for the deindustrialization of america. it has played an important part. in terms of dpp, i do not want american workers involved in a race to the bottom competing against people in vietnam where the minimum wage is 56 cents an hour. we need a trade policy which helps poor people around the world but you can do that without losing millions of jobs in this country or driving wages down. >> senator sanders, there is a lot more i want to ask you, including your brothers campaign in england and the green party. someone told me and i said what. we are going to have to save that for the next time. you will be on the campaign trail. there will be lots of times. >> thank you. >>> as he begins a new progressive contract with am

were talking about this before i covered something called the nafta super highway, which is a thing that didn't actually exist, although there was part of it that was this corridor, it's very complicated. anyway, i find myself remembering that there was a big part of the right-wing base that was really opposed to nafta. thought nafta was a raw deal. pat buchanan was the standard-bearer for that. and right now, that's not represented at all. there's a space there to be that candidate and huckabee is taking that mantel. >> huckabee, carly fiorina came out against it. >> which was surprising to me. >> and the leadership of both parties, the republican party and the democratic party, they've both been bought by the same wall street interests. and there's deep suspicion among the rank and file in both parties, against this. the principal division in this country is an opportunity between liberals and conservatives or dcs and republicans. it's between the elite and the rest of us. >> curtis ellis, thank you very much. >> thank you. >>> coming up, disturbing racist text messages surface in

reevaluate this or that. and he was for nafta and we don't know where she is on trade. he is helping her along on this. we don't know what w. will do and i agree, i will applaud jeb for at least talking to the president, gloria borner john king thank you very much. >> and this man who escaped with injuries was on the phone with his wife as the train ran off the rails. details ahead. ve it around. now that i have a tempur-flex, i can finally get a good night's sleep. when i flop down on the bed, and it's just like, 'ah, this is perfect." wherever you put your body it just supports you. like little support elfs are just holding you. i can sleep now! through the night! (vo) change your sleep. change your life. change to tempur-pedic. i am rich. most weekends, you'll find me on my mega-yacht, which i bought from a mattress chain mogul, who could no longer afford the monthly payments. yes, i am rich. that's why i drink the champagne of beers. constipated? .yea dulcolax tablets can cause cramps but not phillips. it has magnesium and works more naturally than stimulant laxatives. fo

are concerned yes the president says we learned from nafta, put provisions in to up the standards overseas for workers and the environment, but are they enforceable? that's a big question that's out there. so, there's a lot more debate that has to go around here and a lot of persuasion. as long as people aren't feeling it in the pocketbook and they aren't, yes jobs are created, wages not moving. that's what the average person feels. that's what makes the opponents arguments residence natenate with people. >> 200,000 at the white house today growing about that. you don't have the wage disparity fixed. that's the problem. >> wage disparity and people look for jobs have left the job market. they're going to pump that number out, lowest unemployment rate since 2008 before the worst of the economic crash. i think though this is a difficult issue for president obama to make nationally because just when you think about it it's big companies, asia just off the bat to average american. that sounds like they're getting a raw deal. it's a difficult thing to say by helping larger companies, i

trade unions do not want to be a part of it? >> we learned a lot of lessons from nafta. this is the first trade agreement that has been introduced with an sme chapter. the president and i just traveled to the summit of the americas in panama. those heads of state said that they had entered into 200 trade agreements which the u.s. was not a part of. so they are treating, and this is going to china. if we do not raise our standards environmental and labor standards, then china will win. we need to pass the transpacific partnership today. mark: there was a report last month that cited numbers from the institute of women's policy showing the number of female small business owners is on the rise and minority women are making huge strides. why is this and what are the challenges they still face? >> one of the challenges is they did not know where to go to counseling centers. we now have several centers across the country. they also said that our loans were expensive. we have loans zero down and $150,000. we put on a new program that allows them to go to our website, answer a few questions

, she was in favor of it. as first lady, she was in favor of nafta. now she is very vague. she says we have to put safeguards because she does not want to take a stand on such things. she wants to be all things to all people. bill de blasio was hillary clinton's senate campaign manager. far he can go in criticizing her and keep his credibility. on the trade thing, i think elizabeth warren as a theory which is that trade treaties can overcome some domestic laws. there is a little bit of evidence that has happened in some places. bloomberg news is working on a piece to analyze whether that has credibility and how much that charge has. olivia: is about trade and inequality. joe will be on the tour with bill de blasio. his inequality and issue that hillary clinton from the non--- can win on -- is inequality and issue that hillary clinton can win on? as a country where we aspire to go up in income and status, people always want to do that and they do not blame the people who are successful or wealthy. but nonetheless, there's so much out there about income inequality. the figures are jus

on the fence, a lot of democrats reluctant to support this right now because of the ghost of nafta, concerns about currency minute relation, they want that language in this legislation. you have john boehner singh republicans will step up and support this, but the new democrats to come on board as well. john boehner: republicans will do our part. thesuccess will require democrats putting aside politics and doing what's best for our country. clear how manyt democrats will be prepared to support this on the floor, not only in the senate in the day, but in the house as well. still a few hurdles to clear. this is not a done deal, but it's a big day for the president. and for all those companies so eager to be able to do more business in places like the pacific rim in europe. his trade agenda looked down and out and came back in a big way. unlike the washington capitals. peter: i knew that was coming. scarlet: especially after you tweeted out your seats. peter: it was a good game last night. some great goaltending. that guy in the net for the rangers is pretty good. scarlet: pretty hand

talking about the tpp. talking about nafta. how does opposition to the new transpacific trade partnership compared to the opposition that squared up behind nafta? peter: it looks very similar. much of it is being led by organized labor. they are using many of the same arguments to try and undermine this deal. it looks very similar. that one barely passed the congress. this one, likely to squeak by as well. there are tough arguments being made both ways. the fact that this president is taking on a elizabeth warren and vice versa, makes for an unusual situation on capitol hill, one that could have lasting damage. olivia: thank you so much. looking forward to your interview. peter cook, our chief correspondent -- our chief washington correspondent. not miss his interview with elizabeth warren at 2:30 p.m. eastern. you can watch it on bloomberg.com. lots more to come, including el.k kies he is here to tell us why he is still reeling oldish -- still feeling bullish. ♪ >> welcome to the bloomberg market day. housing rebound. building permit. it could signal a vigorous selling seas

. betty: history proved that it has not been. let's say nafta for instance, bill daley wrote about this just the other day. just today in fact. it was oversold, the benefit or inactive was oversold during the clinton years and now it seems for bill at least daley and folks like you who support this, it is being undersold now as well to the benefits of tpp? isi think that nafta clearly a bed rock for a lot of the thinking of that trade today. betty: absolutely. some 22 years later because people don't think nafta was a success. a lot of people believe nafta caught as jobs, cost them jobs, cost family members jobs and as a result, they have great, great reticence about entering into a trade deal with 11 countries, particularly countries like it now who don't have market economies, don't have trade union movements. they have a single trade union, so there is a lot of concern about this which is by the way, shared by republicans and independents, not just democrats. so the country itself -- betty: how do you move past that then? >> you've got to try to make sure the country understands the

a voice in nafta being passed? in 1993s pretty busy working on health care reform, but she and her husband have been pretty staunch free traders throughout their lives. she was a supporter then and i think she would probably say that there are some things about it that turned out to not work out as well as she would have hoped, but that in the long run she thinks it is a good thing. that a federal judge ruled clinton state department e-mails on the page basis, she is asking for it to be done quickly. i what point will this be laid to rest? quite that is the question. at one point yesterday they said they would not be seeing those e-mails until january of next year in the federal judge said that instead of releasing them in a bulk package you have to do it on a route -- rolling basis. a different thing from one of the things they were concerned about, which was this private server and the choice about which ones to consider personal. most of the controversy is around the ones that she destroyed. what is in those e-mails? we don't know. out,she wants them to come presumably these wer

that nafta seems successful. it has been successful. mexico probably has a stronger, more stable government than it did 25 years ago. economically nafta has to be a part of that. it is not a good thing for the u.s. to have a week partner across the border. tom: the week after the jobs report a little lighter on the economic data. coming up, one of our most popular guests -- richard sharma of morgan stanley on the economy super cycle. ♪ tom: good morning, everyone. "bloomberg surveillance." tom keene and brendan greeley getting your week started. here are top headlines with vonnie quinn. funny>> hoping to see some signs from greece from today's meeting in brussels. the government of prime minister alexis tsipras expects the eurogroup to a knowledge that greece is moving in the right direction. greece is running out of money. tomorrow it has to pay $840 million to the imf. in moscow, russia's president, vladimir putin and germany's chancellor angela merkel met for the first time since january, paying tribute to victims of world war ii. she urged vladimir putin to encourage pro-ru

.. they are really going to benefit from the uptick in the u.s. economy. tom: is nafta successful? katia: that is a huge topic of debate. brendan: what is the natural weight of unemployment? katia: mexico is our largest trade partner. ian: no one there will tell you that mexico has not been successful. tom: we did not transport detroit to monterey? brendan: import of auto parts -- mexico has surpassed germany japan, and canada. kochconsciouskatia: there are questions of the social impact immigration. now what the president is pushing for with the opening of the oil sector, it is supposed to be the best thing since nafta for mexico. olivia: what happens when the fed finally does heighten? ian: what the currencies have been getting at passover in the last few months one thing that will happen more or less today than in the summer -- they will come under pressure again. tom: go back to the single best chart again. in shepherdson, will you was plain how it major country can put up to two decades of currency depreciation? my text says they cannot do that. ian: in an emerging market with a hig

to help workers make a transition to growing sectors. and trade jets, nafta included labor protections, included help for trade worked as placers. -- trade for displaced workers. i think the agreement will ultimately have that type of assistance. olivia: does it boost wages? >> yes. olivia: all right, good news. president obama will be at night he headquarters in oregon later today. brendan: are twitter question of the day -- tom: raging questions. brendan: tweet us. good morning, it is jobs day. ♪ tom: good morning, "bloomberg surveillance." the prime minister's car awaits outside buckingham palace as i assume tea is served with the queen. brendan: tesla things its 5 million square-foot battery factory is not going to be big enough. elon musk already has booked orders for its new storage batteries with $800 million took more than two months for the original apple fun to bring in half that much. as well know, reservations to not necessarily convert to sales. the fda says bluebell creamery's new there was listeria and one of its plants more than two years ago but the compa

carried out by ronald reagan, nafta but on that this exploded the prison population the destruction of welfare, 70% of the children of -- were stripped of their ability to receive government benefits. glass-steagall, all of this essentially has propelled us forward to a situation where as things unravel we no longer have the legal mechanisms for the protection by which we can resist. this is by design. the nsa has run numerous scenarios on the effect of climate change. we just on march 400 parts per million the first time the levels of carbon emissions have been that high for an entire month in recorded history. and corporate forces exploit until there's nothing left and in theological terms in many ways they are forces of death. quite literally when we talk about that forces it is climate change. that's the reality that we face. that is the political, the economic the environmental realities that we are up against and the capacity of the state to control the citizen, to modern modern -- monitor the citizen to use lethal force against unarmed citizens and all of the marches all of the

creation and we see it, these trade deals which are nafta on steroids weakening the power of the government to curb or halt corporate exploitation and the only mechanism left is to carry out acts of mass civil disobedience. that requires taking to the streets. i covered the revolutions in eastern europe, east germany, czechoslovakia, romania and i watched day after day hundreds of thousands, 500,000 people, half a million people in prague, and every night in czechoslovakia in the magic lantern theater, all the people who inherit the government, it was a model of what it means to be a dissident, what it means to rebel. it began with charter 77, 1977. in 1978 writing this great as a the power of the powerless, calling to live in truth, by living in truth, and exposing the system for what it was. and that is the great terror of the system that it is exposed for the predatory creatures that it has become. hobble was not a charismatic figure or a very good speaker but he had the moral authority. there was no question in prague. i remember all through the streets of the city there were

nafta negative and positive effects come out of this. here is the problem. we don't get to see what is in the deal. you know. neil: what could go wrong? like how health care went. >> right. neil: you argue that republicans, you know -- >> get rid of fast track. i don't care if it is a republican or democrat in charge republic form of government our elected representatives should have a say. neil: do you know how long they drag it out. >> i'm not throwing away the constitution for some expedia european policy. neil: so brad, what happens? you argue as a business guy when all said and done it is good to do business with all? >> yeah it speaks to self confidence of u.s. economy. that we're strong enough we can engage in very open, trade agreements and benefit the american worker. neil: but we're not doing it you are not saying there is anything open. >> well okay like that -- i don't see anything wrong with this agreement. >> who read the agreement? my question is, who knows what is in agreement? and where are american people's voices to be brought into this? neil: fair enough, because yo

nafta. penny: i think you cannot compare the two. the growth going on in the asia-pacific is something we have got to have access to. and today, we don't. for example, if you want to sell pork in asia, you can take a tariff of up to 100%. chemicals, tariff of 30%. if a foreign company wants to sell and the united often you face a tariff of 1.4%. we are at a real competitive disadvantage, not just with parents but labor standards -- tariffs but labor standards and environmental standards. if we don't contest -- participate in those, our workers will get left behind. al: are you saying this is different? penny: this is different. i will compare it to the past but i want to talk about what is going on today. al: let's talk about physicians people have talked about a lot. one has caused a lot of furor the investors state dispute settlement. elizabeth warren and critics say what this would do is allow multinationals to go to a special court and possibly overturn domestic law. penny: first of all there have only been 17 investors state disputes brought in the united states. 13 have

cynics say. they say that's what we heard in nafta 20 years ago. was nafta a job creator? >> i think you can't compare the two. i think this is what i keep emphasizing, the growth going on in the asia-pacific is something we've got to have access to and today, we don't. for example, if you want to sell pork into asia, you could face a tariff of up to 100%. you want to sell autos, you could face a tariff of 80%. chemicals, you could face a tariff of 30%. if a foreign company wants to sell here in the nays often you face a tariff in fact, you face a taf rif of 1.4%. so we're at a real exit i've disadvantage not just with tariffs but with labor and environmental standards and if we don't participate in those markets, our companies will get left behind our workers will get left behind. >> hunt: am i hear you saying nafta may not have been so good but this is different. >> this is different and the time is different. >> hunt: and nafta wasn't so good? >> i'm not going to compare to nafta. what i'm talking about is the world economy today. >> hunt: let's talk about some to have the provisi

under nafta, it says essentially that companies, global companies can go to a separate tribunal outside the laws of any individual company and get reimbursed for health, safety environmental or any kind of regulation that may impede their profits. that to me is not necessarily good for the country. might be good for bottom lines. >> great. >> i have a question for you, secretary reich. you said that you think the fed is doing the right thing and they shouldn't do anything with regards to touching rates. but where do you come out on whether or not the fed is responsible for the growth inequality in the united states in particular for the massive boom of the stock market and what we see as a bond bubble? do you think the fed bears some responsibility for that -- >> well -- yeah there's a relationship between what the fed is doing keeping interest rates low and growing inequality. the real problem is that the fed is the only game in up to. if we had a fiscal policy that was appropriate for right now, that is more stimulative in my view, the fed wouldn't have to bear the entire weight of ke

elizabeth warren side. he said he would renegotiate nafta as president. once he got in office like most presidents he found expanding trade is in the economic and geopolitical interest of the country. the other irony is that the democratic base has been growing generally more expertive ivesupportive. while institutions are more with elizabeth warren generally speaking opinion within the party has been slowing more to where president obama ended up. >> larry, ron said the president has flip-flopped over the years. the president we heard during this discussion said he has no more elections so he has nothing to lose and this is not about politics to him. do you think warren's position is more politically influenced >> well there's always politics. you heard what president obama said. he hurled the ultimate epithet and elizabeth warren saying she is a politics like the rest of us. i don't think she necessarily thinks of herself that way. clearly, the president is irritated. he has a real fight on his hands. he is expecting more support from his own party in this tough fight than he is likel

. look at the transpacific partnership with the obama administration. that is nafta on steroids. what problems will that have? generate profits. where will that profit go? pockets on accountability for every day people. he had the courage to raise an issue that was unpopular. but not attending to the structure analysis to the degree he ought to we end up seeing the same thing. our brother is acquainted with how human beings could creatively respond to poverty. in this case white brothers and sisters, right? but a different moment. your family is strong. unbelievable commitment to education. every working class person is not a robert george. you have a lot of cousins. i am sure. >> i think it is true he didn't get the full picture. he was deflected from seeing other factors because so much seemed to be accounted for by reference to race and the history of race relations and oppression. and that say blind as much as it illumeinate illuminates. and he is a good case of that. the nafta an steroids is what i said we need to address when we talk about proper economic issues. we make a mista

corporate coup d'État. this is worse than nafta and the wto. it is bad for consumers, labor, the environment. all of the necessities are subordinated to the supremacy of international commercial trade and a tremendous invasion on local the state, national sovereignty. and all of the disputes that may affect american workers in dealing with poverty and investment import areas in this country, all of the disputes will be before secret tribunals. they cannot go to our courts. this is blatantly unconstitutional. but any citizen who trusted take these traded grimaced to the federal courts are dismissed because of no standing to sue. we have a real fight coming up. go to globaltradewatched on work and you can get the details. i'm telling you, people, if this one passes, about a dozen other countries on the pacific rim, it will affect the pace of exporting jobs and industry and subordinating the ability of the united states to be first. and environmental labor and consumer standards. juan: ralph, i want to ask you on this may day, your new book, "return to sender" it is more letters to past preside

american free trade agreement, nafta. those are roles that the cato institute, free trade libertarian think tank, calls a subsidy on off shoring loring the risk premium of off shoring. we have seen with our own eyes the old nafta rules brought shoring. or the obama administration has admitted the labor and environmental standards are now saying new and improved, amazing, are what bush had in his last watcher agreements. and those are standards, as well as not being beloved by a single environmental or labor group i.e., the groups that have a specialty and workers rights and the environment supposed the agreement say the standards aren't sufficient. in addition, the bush dinner tar in the tpp are explicitly -- that are in it tpp are especially reviewed by the government accountability office and found two totally failed to change conditions on the ground in the countries where they are applied. these are things we actually know about the agreement. on the financial issue that senator warren has raised, what we know that is true? in addition to the fact that most of the other tpp countries ar

behalf of their meat industries alleging violations of nafta, the north american free trade agreement. the ruling validates the concern brought by critics of another free trade deal, the transpacific partnership, or tpp, who say it would undermine food safety and environmental rules to benefit corporations. in a statement, wenonah hauter of food and water watch said the ruling "proves that trade agreements can and do trump u.s. laws. this is a chilling reminder that our very democracy is at stake in these trade deals," they said. last week, the senate advanced a bill to give obama fast-track authority to present the secretive tpp to congress for an up-or-down vote with no amendments. but obama faces opposition from fellow democrats, including massachusetts senator elizabeth warren, who issued a report monday highlighting how the united states has broken its promises to enforce labor standards in past trade pacts, allowing child labor and violence against union organizers to continue abroad. meanwhile, another spat has shown the potential of free trade pacts to undermine u.s. financial

negotiated. very considerably larger than nafta. it is mostly not about trade. only five of the 29 chapters are about traditional trade. the others are about regulating the internet and what internet service providers have to collect information. they have to hand it over to companies under certain circumstances. it's about regulating labor, what labor conditions can be applied, regulating, whether you can favor local industry, regulating the hospital healthcare system, privatization of hospitals. so essentially every aspect of the modern economy, even banking services, are in the t.p.p. so that is erecting and embeding new you will at that modern neo-liberal structure. in u.s. law and in the laws of the other countries that are participating and is putting it in a treaty form. by putting it in a treaty form, that means the 14 countries involved, that means it's very, very hard to overturn. there's a democratic desire in the united states to go down a different path for example to introduce more public support -- public transport, then you can't change it because you have to get ag

. marke and mexicaces inexpensive labor before the north american free trade agreement, or nafta mexican laws required that the maquiladoras locate within 12 miles of the border. it's a very short truck ride to some rather long lines at u.s. customs. despite this minor inconvenience, relative location explains why the plants are right here. but to truly understand their impact on mexico and the u.s. you have to change scale again. mi nombre es imelda rodriguez y soy originaria del estado de durango. translator: i come from the state of durango, and i make $60 a week. narrator: durango is hundreds of miles south. you have to look at a national scale to see that $60 is high by mexican standards. it's enough to draw thousands of migrants north from even poorer areas in the interior. many of these migrants homestead in anapra, while their bosses live comfortably in the campestre. the maquiladoras assemble goods just south of the u.s. border for shipment back to continental scale markets in north america-- such is the power of place. it almost worked for concha martinez, who, instead

history with nafta and president clinton but hillary clinton trying to play it safe. what martin o'malley is taking strong stand on trade point out, show the areas that she's not being forthright. we're going to end it that. presiding over my last panel here it's been a lot of fun. john, you're going to love this job. we'll be right back after this support break. bob five, four, three, two, one. the administration sees hussein's -- >> you were in nigeria. couldn't get the name of the leader of nigeria correct to save his life. over and over and over again. >> nigerian chief of state -- obasango -- kelly -- has our story. nfl linebacker brendan imanjao i'll let you say your name for us i apologize for that. >> coming up dr. robert -- sorry. >> schieffer: this has been a very unusual morning. ♪ one says she's a friend of mine. hillary clinton is at the tale end of six nation tour of africa you'd think she'd be exhausted but there was the secretary of state last night cutting loose at a reception in south africa. she didn't even flinch when this diplomatic dance took unexpected tu

american interests and ideas. in an essay in foreign affairs in 1993 on nafta, a young and then relatively obscure economist, paul krugman, explained that nafta wasn't going to have much of an impact on the vast american economy one way or the other, it was really about foreign policy. the economic effects of nafta have been heavily debated, but the foreign policy consequences are clear. and clearly positive. re anti-american countries in the world. today, mexico is a country transformed. unambiguously allied with the united states. its president is totally comfortable being described as a close ally of the united states. mexico has become a core component of a closely intertwined north american economy that is the world's most vibrant regional bloc. many factors led to this transformations, but nafta was chief among them. if something similar were to happen with tpp in asia, the effects would be global. the world we live in is one of rising nations but declining global norms. the struggle is on to write new norms, new rules for trade, cybersecurity, intellectual property and much more. le

think that this is contention fight. it's like the nafta fight of the 1990s. it's something that hillary clinton is going to have to claire carefully navigate through the campaign. and once she's being challenged from the deft from bernie sanders, a lot of interesting democratic politicking going on on this trade deal. >> reporter for the hill thank you so much. >> just ahead why a mistake by the florida dmv could turn up to be costly plus jimmy fallon's hilarious tribute to mother's day. ggle. when you go to a restaurant you don't haggle over the chicken parmesan. why can't car-buying be like that? ♪ ♪ as long as people drive cars carmax will be the best way to buy them. my cut hurt. mine hurt more. mine stopped hurting faster! neosporin plus pain relief starts relieving pain faster and kills more types of infectious bacteria. when you pick any 3 participating products get a free all better bag. ♪ ♪ the beautiful sound of customers making the most of their united flight. power, wi-fi and streaming entertainment. that's... seize the journey friendly. i will take beauty in

support for free trade. in the years since nafta. and mitch mcconnell, lava republican leader, figuring out a way to sort through this. assign a free trade is not an easy sell right now. >> watching the battle between the president and elizabeth warren an interesting and very personal back and forth between the two of them. >> they are both very emotionally engage in this subject. he is not mailing this in. they see other parts of his record as being not so much. they butted heads on this. that was the dynamic of the debate, and it has gone somewhat personal. >> the issue is jobs. there are those who think free trade kills jobs. with the come down on that? >> it is about jobs. we did not wall street journal and nbc news poll, and the sentiment was free trade has not been good for this country, was slightly higher among republicans and democrats. that is not reflected in congress where in the senate there for a free trade but there are populists in free both parties that don't buy the idea that free trade is the fatigue, and your job security and that includes a lot of republic

themselves in to be a little bit humorous because the reality of it this is not nafta so it's kind of this retreat to the old conversation about nafta. i think it's misplaced. i think the idea of expanding the pacific rim with pacific rim partners in the trade area is important for the country. this is about how you graduate businesses into this new marketplace. the president is articulated that. now, i will fault the administration on this point and that is they didn't bring along those elizabeth warrens in the senate. they didn't bring that voice into the conversation until much later so they were able to take i think a greater hold on the conversation. the president found himself more on the defensive than i thought he needed to be. he had support. >> i want to get back to governor rendell. from the time this issue got sharp a couple weeks ago, governor, i've been trying to make a case this is a legitimate debate among the democratic party and the progressive movement that there are both sides to the argument. that's been pushed on television over and over again, including on this netwo

issue. bill clinton when he ran waited way to the end of the campaign to take a stand on nafta. i was there that day when he gave his speech. he said he endorsed it. and almost everything else he said was critical of it. >> what happened to the democratic party? it used to be the conservative party was for tariffs and protectionism and the liberal party was for free trade. kennedy was for free trade. >> the loss of american jobs is what happened. the globalization. it's technology. it's globalization. but i want to say something about this movement of hillary clinton. the whole country has moved. when bill clinton ran for president, he was coming off the dukakis campaign where he got a really hammered as what robbie showed in his video on being soft on crime. and we were getting out of a crimewave. everybody has moved to a new position and said wait a minute, those draconian penalties we put in way back then are locking up way too many people, particularly african american men for too long. that's a consensus position. same on inequality. she is talking a lot more about inequality. gu

typically been more opposed to trade agreements that favor them. for example, nafta passed with strong republican support and few democrat votes. i think democratic support for this agreement appears to be lower, even than some of the other agreements. historically, in the modern era, democrats have not liked trade agreements. betty: so it is status quo. >> organized labor has opposed them. and that is just the reality of the world we have. if this passes, it will be with a strong majority of republican votes. betty: what about the argument by senator warren that any trade agreement will water down wall street regulations,. frank? >> of we've seen the administration take as firm a stent is possible. i don't consider that much of a threat. >> i don't, either. i don't think the tw are related. obetty: scaremongering? >> i don't know what her precise thinking is, but her point is we should not water down dodd -frank. i don't because agreement has that effect. betty: we are about to get the april jobs report. moments away from a senior markets correspondent julie hyman will be monit

, right? and then when you have the legacy of your family, bill clinton and nafta and george bush in iraq. if you sit all the way through a primary with not comparable competition, if you get into the general if you are not running against the guy with the other family legacy, you got problems. >>> next, a sneak peek reporters share from their notebooks and get you out ahead of the current political news, including what a current first lady is doing for the former first later who is running for president. rk from the bay area to the big apple. and more data capacity per customer. need one more reason? get two lines of unlimited 4g lte data for a hundred bucks save without settling on america's fastest 4g lte network just stay calm and move asno sudden movements.. google search: bodega beach house. it begins from the the second we're born.er. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern he

behind the establishment of the north american free trade agreement, or nafta. the combination of the maquiladora program and nafta has helped mexico to enjoy rapid growth during the last half decade, but not at the expense of u.s. jobs growth. many analysts now talk about mexico as the next tiger economy, or leopard economy because there are no tigers in mexico. economic principle tells us that free trade or at least freer trade will mean lower consumer prices and in the long-term job security and a stable competitive economy. but in the real world, the short-term world all of us and our elected officials find it hard to turn away from the plight of those whose jobs are threatened by competition from abroad, no matter how fair that competition. for "economics usa" this is david schoumacher. annenberg media ♪ nenberg media ♪ gold was thetandard agaiwhich most of the world vaedtsurncy.

nafta. but i'm also pleased to see that people are raising serious questions about what we do for those who are displaced. i'm extremely concerned about the government being so above everything that when they see a trade violation, they don't do anything about it. i think we have a long way to go on this bill. i think there will be some good and it will probably be good. i fundamentally am for open but i'm not for america doing things that sell our workers or to store our manufacturing industries. i know this bill involves some of these intellectual property rights. portman had an amendment on currency manipulation. maybe he will offer that again. maybe it will be included. let's see how it comes out that my concern is trade is good open is good, but at the end of the day, it needs to be fair and a level playing field. reporter: there is no yes or no? governor kasich: i will see what it is in the end. i say, why doesn't it get to my desk first and i will let you know how i feel. >> carolyn ryan from the new york times. last question. governor kasich: two more. [laughter] reporter: