President Signs China Trade Memorandum CSPAN March 22, 2018 12:45pm-1:01pm EDT
staying ignorant of mueller's past, or three, they're thinking some day i'm going to go before a senate confirmation hearing, and i want the democrats to be gentle with me. so i'm going to say mueller will be fair. that's the only three type of republicans you have that are saying mueller is doing a good job and he'll come out fair. ask dr. hatfield, whose life was ruined when he was not the anthrax killer. ask -- well, thank you very much, everybody. this has been long in the making. you've heard many, many speeches by
me and talks by me and
interviews where i talk about unfair trade practices. we've lost over a fairly short period of time 60,000 factories in our country, closed, shuttered, gone. 6
million jobs at least gone. now they're starting to come back. you see what's happening with chrysler, with foxconn, with so many other companies wanting to come back into the united states. but we have one particular problem, and i view them as a friend. i have tremendous respect for president xi. we have a great relationship. they're helping us a lot in north korea. and that's china. but we have a trade deficit, depending on the way you
calculate, of $504 billion. some people would say it's really $375 billion. many different ways of looking at it. but any way you look at it, it is the largest deficit of any country in the history of our world. it's out of control. we have a tremendous intellectual property theft situation going on, which likewise is hundreds of billions of dollars. and that's on a yearly basis. i've spoken to the president. i've spoken to representatives of china. we've been dealing with it very seriously. as you know, we're renegotiating nafta. we'll see how that turns out. mr. countries a-- many countrie calling to negotiate better trade deals because they don't want to have to pay the steel and aluminum tariffs, and we are
negotiating with various countries. mr. lighthizer, mr. ross, we are just starting a negotiation with the european union because they've really shut out our country to a large extent. they have barriers that they can trade with us but we can't trade with them. they have very strong barriers, very high tariffs. we don't. it's just not fair. nafta's been a very bad deal for the united states, but we'll make it better, or we'll have to do something else. the deal we have with south korea's a very one-sided deal. it's a deal that has to be changed. so we have a lot of things happening, but in particular with china, we're going to be doing a section 301 trade action. it could be about $60 billion, but that's really just a fraction of what we're talking
about. i've been speaking with the highest chinese representatives, including the president, and i've asked them to reduce the trade deficit immediately by $100 billion. that's a lot. so that would be anywhere from 25%, depending on the way you figure, to maybe something even more than that. but we have to do that. the word i want to use is reciprocal. when they charge 25% for a car to go in and we charge 2% for their car to come into the united states, that's not good. that's how china rebuilt itself. the tremendous money that we've paid since the founding of the world trade organization, which has actually been a disaster for us, it's been very unfair to us. the arbitrations are very
unfair. the judging has been very unfair. and knowingly, we always have a minority, and it's not fair. so we're talking to world trade. we're talking to nafta. we're talking to nafta, we're talking to china, and the european union. i will say every single one wants to negotiate and i believe that in many cases, maybe all cases we'll end up negotiating a deal. so we've spoken to china and we're in the mits of a large negotiation. we are sending a section 301 action, i'll be signing it right here, right now. i would like to ask bob light hides-- lighthizer to say a few words about it. we are doing things for this country sha should have been
done. we have had abuse by many countries and groups of countries that were put together to take advantage of the united states. we're not going to let that happen. that's probably one of the main reasons i was elected. we're not going to let that happen. we have, right now, a $800 billion trade deficit with the world. so think of that. so let's say we have 500 to 375, let's say we have 500 with china and 800 total with the world. that means china is more than half. so we're going to get it taken care of and frankly, it's going to make us a much stronger, much richer nation. the word is reciprocal, that's the word i want everyone to remember. we want reciprocal, mirror. some people call it a mirror
tariff. or a mirror tax. just use the word reciprocal. if they charge us, we charge them the same thing. that's the way it's got to be. that's not the way it is for many decades it has not been that way. and i will say the people we are negotiating w smiling they agree with us. they can't believe they have gotten away with this for so long. i'll talk to prime minister of japan and others. a great friend of mine and there will be a little smile on their face and the smile s i can't believe we've been able to take advantage of the united states for so long. so those days are over. ambassador lighthizer, thank you. >> thank you, very much mr.
president. first of all, section 301 is a statute that gives substantial power and authority to the president to correct actions in certain circumstances where there's unfair acts, policies or practices by our trading partners. in this case, the area is technology. it is probably the most important part of our economy. at 44 million people work in high-tech areas, no country has as much technology intensive industry as the united states. and technology is really the backbone of the future of the american economy. given these problems, the president asked usgr to conduct a study, we conducted a thorough study and had hearings and had documents and talked to many business people and we had testimony and we concluded that had in fact, china does have a policy of force technology transfer of requiring licensing at less than economic value at
state capitalism where they go in and buy technology in the united states in non-economic ways and cyber theft. the result is that the president analyzed it and we have a 200 page study. and he concluded we should put in place, tariff on appropriate products. we could explain later, that we put investment restrictions on china with respect to high-technology and follow wto case because one of the actions here involves a wto violation. this is an extremely important action. very significant and very important for the future of the country. across industries. and i would like to thank you mr. president to give me the opportunity to work on it. >> secretary ross. >> intellectual property rights are our future and it's no accident that in june of this year that the u.s. patent and
trademark office will issue its 10 millionth patent. so the sale aluminum action we have taken deal more or less with the present. this action deals with the future. so we're trying to solve both today's problem and problems that otherwise, will be forthcoming. that's why these actions are so important and so important in unison with each other. we will end up negotiating these things rather than fighting over
them in my view. >> mike pence, would you like to say something? >> thank you, mr. president. and to all our honored guests. today's action send as clear message that this president and our entire administration are determined to put american jobs and workers first.
the action the president will take today under section 301 also makes it clear that the era of economic sur ender is over. taking targeted and focused action to protect jobs and technology which will power and drive an innovation economy for decades to come. it is just one more step of a proposition
made and a promise kept by president trump. >> so, we'll sign right now. i just want to let everybody know for the second time that we are in the midst of a major and positive negotiations. positive for the united states and actually, very positive for other countries also. we have some of the great business leaders and leaders, period, right behind me. i may ask maryland, the leading
woman's business executive in this country according to many and we buy billions and billions of dollars worth of that beautiful f-35, it is stealth, you cannot see it, is that correct? >> absolutely. >> say a few words. >> thank you, mr. president. i would say this is a very important moment for our country in that we are addressing a critical area for the aerospace, protecting our intellectual property. that is a threat to us if we have that stolen from our companies, because that is the lifeline of our company. we welcome this action on the part of the trump administration and the president of the united states. thank you. >> thank you, ma'am.
now we have more live coverage coming up in a few minutes. we're going to go live to hear from secretary of state rex tillerson giving his fair well address to state department employees. just last week president trump decided to change leadership in the state department. nominated mike pompeo to take over. a confirmation is planned in
april. fair well spech expected at about 1:15 p.m. eastern. here live on c-span 3. looking ahead to the weekend. the march for our lives rally against gun violence, taking place in washington, d.c., saturday. noon eastern on the come pain i don't know network c-span. we talked about the march and efforts to reduce gun violence and we'll take a look at this until we go live to the state department for the announcement from former secretary of state, rex tillerson. our guest is representative jam jaime, democratic from maryland and the democratic steering and policy committee member, good morning. >> good morning. >> i know you have not had a chance to look over the full details. what do you think about the price tag and the potential of the passage to keep the government funded? >> well, it is thousands of