President Trump Trade Announcement CSPAN August 27, 2018 7:05pm-7:30pm EDT
you missed any portion of this event, you can watch it in its entirety tonight at 11:00 p.m. eastern on c-span or to any time on our website at c-span.org. today in washington, president trump announced a new trade deal with mexico. the deal does not yet include canada. here is what he had to say about nafta and what the new and greed -- what the new agreement entails. president trump: hello,
everybody. it's a big day for trade, a big day for our country. we negotiate tough, so it is mexico and this is a tremendous thing. they used to call it nafta, we're going to call it the united states mexico trade agreement and we will get with -- rid of the name nafta, that has a bad connotation because the united states was hurt very badly by nafta. for many years. but now it's a really good deal for both countries. and we look very much forward to it. and i believe the president is on the phone. enrique? you can hug him up. tell me when. him up. tell me when.
it's a big thing, a lot of people are waiting. >> hello. president trump: you want to put that on this phone? hello? that would be helpful. >> president trump. president trump, how are you, good morning? president trump: thank you, and recap. nrique. congratulations, we've all worked very hard and you are --
your brilliant representatives are sitting right in front of me and i thought we would congratulate each other before it got out and i know we will have a formal news conference in the not-too-distant future. >> thank you, very much, president trump. i think this is something very positive. r the united states and mexico. the first reason for this call, mr. president is first of all to celebrate the understanding we have had between both negotiating teams. on nafta. this interest we have had for quite a few months now. to renew it, to modernize it,
to update it, and generally a -- generate a framework that would attend she productivity in north america. it is our wish, mr. president, that now, canada will also be able to be incorporated in all of this. and i assume that they are going to carry on negotiations on the sensitive bilateral issues between canada and the united states.
and i am really grateful, mr. president. i want to tell you that i recognize and acknowledge your political will and your participation in this. and on the same path, i want to bear my testimony, mr. president and my acknowledgment to both negotiating teams. especially that the team is headed by mr. robert lighthizer. and also the accompaniment and support we have had from the white house through jared kushner. and i also extend this recognition to the mexican teams
. they are listening to you, they are close to you right now. the foreign minister and the secretary of the economy. [speaking in spanish] translator: and this supports the negotiations, it's been difficult and a very hard negotiation altogether with difficult moments of course. but i truly technology now that
-- acknowledge now that we have been able to reach an agreement which we are about to make public and this is the result of good understanding and good work. i'm quite hopeful that now canada will start accepting with the united states this sensitive bilateral issue. congratulations. i'm very grateful and i'm attentive to your comments. president trump: mr. president, thank you very much. it has been an honor and you have been my friend. it has been a long time since i travel to -- traveled to mexico where we got to know each other quite well and we actually had a good meeting, some people weren't sure if it was a good meeting, but it was. i
have a lot of good meetings that a lot of people weren't sure if they were good or not. but it's been a long time and this is something that is very special for manufacturers and for our farmers from both countries, for all of the people who work for jobs. it's also great trade and it makes it a much more fair bill. and we are very, very excited about it. we have worked long and hard, your representatives have been terrific, my representative's have been fantastic too. it has gotten along very well, and they worked late into the night for months on extremely complex stuff and it is something that will be talked about for many years to come, it's good for both countries and as far as canada is concerned, we haven't started with canada yet, we wanted to do mexico and see if that was possible to do. and it wasn't, i think it wasn't from a standpoint something that most people thought was even doable when we started to come -- when we started, if you look at it. you remember the beginning, many people thought this was something that just couldn't happen because of all of the different factions and all the
different sides and the complexity. and we made it much simpler, much better, much better for both countries. canada will start negotiations shortly and i will be calling the prime minister very soon. and we will start negotiation. and if they would like to negotiate fairly, we will do that. they have tariffs of all 300% on -- over 300% on some of our dairy products and we can't have that, we are not going to stand for that. i think with canada, frankly, the easiest thing we can do is to tariff their cars coming in, it's a tremendous amount of money and it's a very simple negotiation and it could end in one day and we taken a lot of money the following day. i think we give them a chance to probably have a separate deal. we could have a separate deal then we can put it into this deal. i would like to call this deal the united states mexico trade agreement and i think it's an elegant name i think nafta has a lot of bad connotations for the united states because it was a ripoff. it was a deal that was a horrible deal for our country.
i think it's got a lot of bad connotations to a lot of people and so we will probably you and i will agree to the name. we will see whether or not we decide to put out canada or just to a separate deal with canada if they want to make the deal, the simplest deal is already made, it would be very easy to do to execute it. i will tell you that working with you has been a pleasure, speaking with and working with president-elect lopez has been absolutely a very very special time. you both came together for your country, you worked together and i think that is important for the media to know, we have a small amount of media in our presence like everybody. and the media should know that the president and the president-elect worked very closely together because the president felt it was important that the president-elect liked what he was saying and our teams
-- seeing. our teams worked together, our teams were really well unified and your team was very well unified, i was very impressed with the fact that the two presidents came together and worked out something mutually agreeable. it's an incredible deal for both parties, most importantly it's an incredible deal for the workers and for the citizens of both countries. our farmers are going to be so happy. the farmers have stuck with me, i said we were going to do this and mexico has promised to immediately start purchasing as much farm product as they can, they're going to work on that very hard. as you know, we are working on related to this, we are working very much with other countries. china is one. they want to talk. it's just not the right time to talk right now, to be honest, with china.
so, it's not the right time to talk, but eventually i'm sure we will be able to work out a deal with china. in the meantime we are working very well with china. our economy is up, it's never been this good before. i think it's only going to get better. but mr. president, you have been my friend and somebody who has been special in a lot of ways. we talk a lot. we talked a lot about this deal. and i would like to congratulate you and the mexican people. >> thank you very much mr. president. i'm glad you recognize this, especially the point of understanding we are now reaching on this deal. and i really hope, i wish, that parts of canada will be materializing in a very concrete fashion. that we can have an agreement
from this negotiating process. but today i celebrate with the united states and mexico, because we are reaching a final point of understanding, and i hope that in the following days we can -- and the formalization of this agreement. i hope -- something additional, mr. president. and with a full participation of
the administration and the president-elect of mexico. as you know, we are now going through a period of transition. and it's possible to create a highly unified front between the negotiating team of this administration, the people appointed by the president-elect of mexico. the observers participate in this agreement in this understanding, to reach the
point we are now reaching. the president-elect has been aware of everything that has been happening, and i've also had the opportunity of talking to him directly and personally on the progress being made. you also have direct conversations with the president-elect. there are things we have to do and i hope we have the space to do it. to a good toast with tequila, to celebrate this understanding. >> i think that's exactly right, and you know that the good relationship i've already established with the president-elect, i was very
impressed with him. i must tell you he was terrific in every way. he loves our country like you love our country. -- he loves your country like we love our country, and he really wants to do the right thing. i really enjoyed that, please send him my regards. i will speak to him very shortly. i think doing it mutually as opposed to you just doing it, or even just him doing it, i think it mutually agreement between your two administrations was a fantastic thing. i suggested that early on, and i think it was immediately embraced and i think it was a fantastic thing you are able to do it. and with great spirit, it's great coordination and spirit. i think that's really just great. one of the things i'm excited about is you're going to be helping us at the border. you are going to be working with us on agriculture, in many different ways, and we are going to be working with you in many different ways on a
comprehensive agreement. enrique, i will see use in. -- see you soon. we are going to have a formal ceremony. this is one of the largest trade deals ever made, maybe the largest trade deal ever made. it something really special that two countries were able to get together and get it done. bob and jared, and general menu have been great. -- gentleman you have been really great. the way you have worked so long, i know you have been going up until 3:00, 4:00 in the morning, and getting in at 8:00. on behalf of the united states, i want to thank you very much. mexico is very proud of you. thank you all very much. enrique i will see you soon. congratulations, at a job well done. >> thank you mr. president. congratulations as well to you.
[indiscernible] we will be waiting for canada to be integrated into this process. i send you an affectionate hug and on my greatest to you and my regards. >> a hug from you would be very nice. thank you. goodbye. ok, so we've made the deal with canada. they are starting, we made the deal with mexico. we started negotiations with canada pre-much immediately. -- pretty much immediately. i can't tell you where those negotiations are gone. it's a smaller segment, as you know. mexico is a large trading partner. we have now concluded our deal
and it's being finalized. bob, when would you say we will be signing? formally signing? oflikely at the end november. it's a 90 day layover period, because of our statute. to get the letter to congress on friday. trump: that starts the process. >> 90 days later, it will be signed. president trump: we have an agreement both with canada and with mexico, i will terminate the existing deal. when that happens i can tell you that can't quite tell you. it depends on what the timetable is. terminating the existing deal and going into this deal. we will start negotiating with canada relatively soon. they want to negotiate very badly. one way or another we have a deal with canada. it will either be a terrifying cars or a negotiated deal. on cars wouldiff
be a much easier way to go. perhaps it would be much better for canada. if we can help our neighbors, that's a good thing, not a bad thing. we are going to start that negotiation imminently. i'll be speaking with prime minister trudeau in a little while. i want to thank everybody. i want to thank you. what a great job you've all done. it's been a long one. but a lot of people thought this was not a doable transaction. it's going to be great for our people, and again i want to thank you folks. we will see you at the signing, and we will see you many times before that, i'm sure. congratulations to the people of mexico. great job. thank you very much, everybody.
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