nafta is complex. it is as if we are going up to a very complex advanced military helicopter, and you have technicians working on helicopter, a politician arrives and shouts, they can fly faster, ok, and they are like, do you know what we are doing here? in some ways our politics are disconnected from the actual operation of the the agreement. commercially, nafta operates as a set of rules that has this incredibly rich texture of a commercial ecosystem that is a lot like what goes on in an advanced helicopter, and it is too context to understand. we had that disconnect that seems to persist. i think that we got into this because the president promised to do it. he was not the first candidate to ever promise to renegotiate nafta. i remember the ohio primary in 2008 where both candidate hillary clinton and senator barack obama both promised to renegotiate nafta. the promise has been around, but actually do it, absent a coalition that understood where there is a general agreement about what needed to be f

a bad nafta. can you comment on that what you think he meant by that? >> well, i think the prime minister his remarks go to a couple of things. one is that canadians are happy with nafta as is so why change that to make it different it will be a bad change because that will leave it alone going back to do no harm. the other thing is many canadians feel although it would take some action to make it happen if nafta disappeared we go back to the trade history agreement. you have to revise it and it would but it still on the books and they felt that gives them a belt and suspenders and second pair of underwear that they've got a way to survive even this and thirdly, i think the prime minister is with his recent speeches including in california and chicago this week to signal that he is not willing he will not case on canadian interest and will be a firm defender of canada here. this whole dynamic where the us is hit canada with a number of trade actions while the trudeau government has trying to engag

the pastor came out and said he would paper and i quote no nafta over a bad nafta. what do you think that he meant by that? >> his remarks go to a couple of things. if you like we will leave it alone going back to the do no harm. but if nafta disappeared we could go back to the trade agreement it would have to revise. they have a way to survive even this. it's to signal he isn't going to cave on the canadian interest, this whole dynamic they've been trying to engage with trump administration and put a lot of political pressure. they have a series about the deal and i think all of the pressure he needs to stand up to that criticism. candidate should have an election this year. they will be harbingers of what happened. he has to play politics and i think that he's recognized he may have been too friendly for too long and he needs to also suggest he has the ability to walk away is the u.s. congress concerned in the next year and should they be concerned next year? mexico is a transit point. to their credit they have been cooperative in trying to shoot that down in the

and nafta is complex. it is as if we have a very complex advanced military helicopter with technicians working if a politician says make it five faster. do you know what we are doing? [laughter] and in some ways the politics are disconnected from the actual operation because it operates as a set of rules that has this incredibly rich texture and ecosystem it is too complex to understand if you can't work on the helicopter you cannot explain to the politician so we do have that disconnect but we got into this because the president promised to do it. he wasn't the first candidate to promise to renegotiate have t to -- nafta even senator clinton and barack obama promised to renegotiate so the promise has been roundabout to do that with a coalition that understood general agreement of what needed to be fixed and a potential solution has never happened. because of that we have a mess we are in now. one of the easiest things to happen is congress to ignore this is the story of tpp the reason the trump administra

they game nafta corporations and this is the heart of nafta. putting together a resources, putting together our capacity, to be competitive compete with asia. so, this three companies became nafta corporations, and they have one foot in canada, and they produce intelligence there and design, they have one foot in mexico, and we manufacture, they have one foot in united states, and you take the cream of the milk. this is the profits come back here, and the jobs have not even been lost. you have lost manufacturing jobs. united states has lost 25% of its manufacturing jobs, considering ten years before but you gain 60% more technological and information technology jobs. so those guys in the manufacturing, they better learn that there's not going be a job for them in the future in five years or ten years. robots will take it away from them. technology will take it away from them. and things will change. this is why nations that are thinking with their head, not like here, that guy, like norway, like sweden, they are establishing a universal income

not talking just about nafta, but career. nafta is a big beneficiary of this. gov. ricketts: they are our fifth largest trading partner. agriculture is our largest industry in nebraska, making up 20% of the state gdp. if we disrupted these relationships, we would see it reflected in commodity prices. they have been down for the last few years and that's putting a lot of pressure on farmers and ranchers, we don't need more downward pressure on those prices. nafta couldparts of you see modernized? are you ok with it being changed? gov. ricketts: we have very little access to the derry market in canada. that's a great example. i heard from people in canada last year who are, say, bakers, who would love to be able to buy cheese from the united states. that's an example of where if we could get some loosening to the market access, that would help to benefit airy producers in the country, and helping out consumers in canada. there are a lot of opportunities for us to be able to improve on this, even on the agricultural side. no one in the country, regarding the shooting i

and that includes the northad american free e agreement, nafta. the 1994 pact allows goods and services to move more freely among and between america, canada and mexico. ntt critics say it also threatens each c's national sovereignty, its ability to govern and enforce its own laws. there's a provision in nafta and thousands of trade agreements called investor state dispute settlement, or i.s.d.s. it allows foreign investors to sue governments for passing laws or regulations that could harm the value of their invts. geoffrey gertz is an i.s.d.s. scholar with the brookings institution. f says i.s.d.s. was created in the 1960s to proteeign investors from governments taking control of their asts. >> if we can think back to original i.s.d.s., the kinds of disputes they often had was, you know, a nationalist government's coming in and saying, you know, "foreign investors, we are taking over this mine, you know, it is ours. we're kicking you out country. we might be throwing you in jail." >> reporter: today, a growing chorus of criticsay companies are of

on pbs newshour weekend sunday, our second report about the impact of nafta. we go inside a fiercelted provision that may threaten the rights of a nation. ve it really has not been shown to be a risk to soignty. >> we've been robbed of our power to create our own laws. >> sreenivasan: that's tomorrow on pbs newshour weekend. n'e man behind some of mot biggest hits like "papa was a rollin' stone" and "cloud nine" has passed away. dennis edwards was the lead singer of grammy award-winning r & b grouphe temptations who helped define the classic sound of soul music. edwards grew up the son of a preacher and started his singina carea gospel performer. he studied music at the detroit conservatory of music before signing with the legendary record label in the late 1960s. dennis edwards was 74 years old. that's all for this edition of" pbs newshour weekend." i'm hari sreenivasan. thanks for watching. have a good night. captioning sponsored by wnet captioned by media access group at wgbh access.wgbh.org >> pbs newshour weekend is made possible by: bernard and irene sch

scapegoating nafta may work politically. but like many of the policies coming out of the trump administration, the facts just don't back it up. >> okey-doke. it's a good headline or a headline that works for the president when he says nafta costs this country jobs. since nafta began, brookings institute estimates the u.s. trade with mexico only has led to 100,000 net manufacturing job losses. that sounds like a big number, because every job does count. >> if it's your job, it matters. >> except that number adds up to 0.1% of the u.s. labor force. that's a tiny, tiny percentage. and if you look at the absolute overall, if you left nafta, it would have a negative impact on workers, employers, consumers across the board. >> so the issue isn't the trade deals and that they were badly negotiated. it's that these trade deals -- >> it's complicated. >> it's complicated. when these trade deals are successful, you lose a lot of the jobs that you otherwise depended on, in our case in america, manufacturing jobs. what you need to do wh

trish: nafta didn't help. >> nafta didn't hurt. go to texas. nafta helps texas. why does nafta help texas? people working in texas because of nafta. trish: look at detroit. >> liberalism failed for years. detroit was horrible well before nafta. trish: getting to another reason. i told you there are many reasons. nafta has not done us any favors. >> nafta did nothing. it's a dog whistle. it's a dog whistle. trish: do you think it is okay for us to sell goods to chinas and they tack on lots of tariffs, taxes effectively. >> right. trish: and we take all those good in from china and we don't put any tariffs on? how is that fair? >> why aren't u.s. manufacturers -- trish: you didn't answer my question. >> i'm not saying it is fair. why do we hear the nafta arguments from poe lemm sifts at at fox news and inside the white house and not businessmen who have deal with that? i think you guys blown it out of the proportion. people that have skin in the game -- trish: washing machine company recently got news they will start putting tariffs on washing machines coming from

about nafta should be updated? met with lumbar fox and there are some concerned with lumber trade with canada, we get that. but there is an energy portfolio i want to see extended. mexico is one of the leading receiver's of gas, and we are building pipelines. as they built their economy, they buy more american goods, but they also buy more american manufacturing goods, so we need to maintain that trading block to the benefit of our people. my state, for the benefit of people of oilfield service providers. kevin: do think president trump is going to save nafta? i tenduld hope so but not to predict what this president does. --id: the senator's hearing is there something bothering them and bring them about nafta and is the president going to listen to them? kevin: what you didn't hear in that infield is what i was told off camera that he is encouraged by the president's rhetoric with regards to nafta in the last couple of weeks. they view this as momentum being shifted in their direction on the issue of nafta. hewe he

quote canada is willing to walk away from nafta if the united states proposes a bad deal. we're joined by daniele de martino booth the founder of money strong and the author of fed up an insider's take on why the federal reserve is bad for america and daniel recently penned an opinion editorial that was for bloomberg view a super interesting danielle thanks for being with us again you think that most folks weren't actually as they were so consumed by the market moves in the last few weeks that maybe not enough of pent attention was paid to the inflation data that and some other things tell us about. well you know the real the real irony here is that what got people set off in terms of inflation fears was really not not real. the labor report that came out that showed two point nine percent year over year increase in earnings was largely offset by a shrinking of the workweek so they really they really viewed the wage inflation problem in a silo and didn't take the whole picture into account if you're working fewer hours and you're getting paid more for the hour again they l

nafta was signed in 1994. there was not a lot of effort to think about ecommerce or digital signatures on documentation, cross-border data flows, believe it or not there was a time when the internet was not so prevalent. we weren't writing it into agreements yet. we need think about things like cross-border data flows, custom fa -- facilitation. a computer might be able to wait at the port. mose gruesomal products cannot -- most agricultural products cannot and we have to be efficient great great american innovation straight to our customer. one reason why it's an interesting opportunity to have this conversation with all of you because there really -- have been a lot of changes in the way agriculture is produced in this country and the opportunities in the relevant of the world. i'll stuff there because i'm much more interested in your discussion than hearing myself rattlen on. >> i'll ask the first few questions but i want to leave a lot of i'm for the audience to ask questions as well. i think it's just as

nafta was signed in 1994. there was not a lot of effort to think about ecommerce or digital signatures on documentation. believe it or not there was a time when the internet was not so prevalent. we weren't writing it into these agreements yet. so we need to do that. we need to think about cross data flows, customer facilitation. when you think about ag products, a computer might be able to wait at the port for a while. most agricultural products cannot. so we need to make sure that custom are efficient and we're able to get great american innovation straight to our customers. i think that's one of the reasons why it's such an interesting opportunity to have this conversation with all of you because there really have been a lot of changes in the way agriculture is produced in this country and the opportunities we see in the rest of the world. so i'll stop there because i'm always much more interested in your questions and discussion than hearing myself prattle on. >> thank you, lisa and kent. i definitely want

advantage of the u.s., citing import and export data, and called on both countries to help modernize nafta and rebalance trade, and while he is willing to continue the negotiations and he says they have to move faster.

renegotiating nafta does not mean this burger ceases to exist, but what it might do is take a complex dish and make it even more complicated. for now, i am quite hungry. joe marler enjoying a burger in new york. let's quickly show you the financial markets. all the markets in asia are higher following a good session on wall street and strong entered a week on wall street. all eyes will be onjerome powell, the new head of the us federal reserve. he has two speeches he will be making. what might he say that good english klister seasons on interest rates and where the us economy is headed ? interest rates and where the us economy is headed? i will see you in a moment. let's bring you more detail on that explosion that happened in leicester. two people are in a critical condition after an explosion four others were described as "walking wounded." emergency crews have spent the night searching through the remains of the building and dozens of nearby homes have been evacuated. andy moore reports. the immediate aftermath of an explosion that destroyed a shop and the flat above it. local peop

us president donald trump has threatened to walk away from the nafta altogether if it is not changed in america's favour. asjoe millerfound changed in america's favour. asjoe miller found out in changed in america's favour. asjoe millerfound out in his locker diner, winding back nafta could be very messy indeed. —— in his local diner. donald trump talks a lot about trade deals. in case you missed it, he's not really a fan. every trade deal we have is horrible. he claims they take away from americanjobs horrible. he claims they take away from american jobs and really hurt american producers and farmers. but one thing we know the president is definitely a big fan of is the all—american burger. but the thing is, this burger is really only made possible thanks to nafta or the north american free trade agreement. and that's the very agreement that the trump administration is currently in the process of renegotiating. just to give you an example of how complex that is, take the beef from this burger. american farmers grow the beef from this burger. american farmers gi’ow corn. the

demand for having a so-called clause on nafta. every five idea that years the three countries will get together and reevaluate if nafta make sense and if one of them thinks nafta doesn't make sense then this would in principle allow that particular country to withdraw. obviously mexico and canada do not like the proposal because of all thinks it introduces a lot of uncertainty into nafta going forward. that is the first sticking point. the second is the u.s. has requested that the agreement now requirementlocal for a goods producer and a north american region, this essentially means that some share of goods produced within north america would have to be sourced in the u.s. this is not part of the current nafta agreement and is obviously something that also mexico and canada don't like. issue is the current agreement in which the u.s. wants to do away with and mexico and canada want to keep some form of, the u.s. doesn't want it at all. i can seefar as nothing has changed from the previous rounds of negotiations and around before t

concluded their sixth round of negotiations over nafta. ♪ their sixth round of negotiations over nafta. >> hints of promise, u.s. trade representative robert light highs are struck a chord of optimism, saying the latest round of nafta negotiations wrap up today. >> they made progress, but we are still not friends. contentious issues remain. the u.s. trade representative, while more upbeat than in the past, is continuing to say mexico and canada are taking advantage of the u.s., citing import and export data, and called on both countries to help modernize nafta and rebalance trade, and while he is willing to continue the negotiations and he says they have to move a lot faster. the canadian foreign minister was more upbeat saying they have , made progress and is pleased with what they accomplished. the mexican economy secretary said the three sides basically are close to being able to make a deal. >> jamie dimon, warren buffett, jeff bezos planning to join forces. jp morgan, berkshire hathaway, and amazon announcing a way to collaborate on healthcare services to their employees. aetna, p

i was told that nafta was changed 13 times. in our ingredient -- agreement, we have committee structures and they can modify the agreements. can adapt it to change. there, you have a built-in mechanism if you want to make sure that you remain flexible. >> echo what damien said, for example, tpp was conceptualized as a living agreement. every 2 years or 3 years, or even on a yearly basis, you would have meetings that would cover different areas. so digital signatures, would be something they would continue to consult on. they have had subsequent for the initial agreements, they have subsequent agreements on certain areas like e-commerce, on telecoms. there's a reference paper and things like that they were all where the parties came back together and said we need to build on the previous agreement revisions. ensuring that there is opportunity to revisit within reason, and then second, careful treaty drafting. that is another area where one of the benefits of the gatt dates back . some of them have been well established there bee

agriculture has flourished within this trade agreement we call nafta. we called on the united states theident, called on you governor, and let your voice be , how important i for culture is in your state. you made a huge difference: the white house, keeping the president aware -- huge difference, calling the white house, keeping the president aware. important.ure is so roads, bridges, dams , so important. really and truly, and i heard the secretary said this and i agree.what sets us apart from the rest of the world is our infrastructure. we can produce it, delivering on time, do it consistently -- deliver it on time, do it consistently. what makes it possible his the wonderful and the structure we have across this country. yes, it is crumbling, but we have a president that wants to rebuild. we are proud to hear that. i want to touch on one thing. both these gentlemen touched on. the infrastructure around research and velma dollars in our land grants. if you look at what's going on and what's happened during the last -- and development in our land grants

quote canada is willing to walk away from nafta if the united states proposes a bad deal. we're joined by daniele de martino boot the founder of money strong and the author of fed up an insider's take on why the federal reserve is bad for america and daniel recently penned an opinion editorial that was for bloomberg view it was super interesting danielle thanks for being with us again you think that most folks weren't actually as they were so consumed by the market moves in the last few weeks that maybe not enough of pent attention was paid to the inflation data that and some other things tell us about. well you know the real the real irony here is that what got people set off in terms of inflation fears was really not not real. the labor report that came out that showed two point nine percent year over year increase in earnings was largely offset by a shrinking of the workweek so they really. they really viewed the wage inflation problem in a silo and didn't take the whole picture into account if you're working fewer hours and you're getting paid more for the hour again t

david: you have seen nafta from both sides of the border. it is another hot issue in the united states. has nafta overall been good or bad for the united states? james: free trade deals are good overall for all participants, and i think it has been good for north america and all the countries in it. it does not mean it is perfect. very few free trade deals are perfect. can it be made better? yes, i hope they can make it better, but i don't think we should start deconstructing global trade. i think it has been a powerful engine for lifting all boats. it does not mean it has solved all problems. there are questions of income inequality. there are questions where not all the rules are perfect and need to be improved. but let's go forward, not backwards. david: when president trump came in, he was closely aligned with people in business. he consulted and he had panels that he would talk to. do you get to talk to president trump or the administration about things like nafta? do they consult you? or do you make your views known to them? james: whe

you are talking about the importance of nafta. anecdotally, even the discussion of nafta can affect commodity prices. i think that is important, how you discuss it. i think it reflects about how important that is to our ag producers. comment on that in terms of what you hear from your members. game thatg to the end the administration is working on a new one. >> nafta is important. people are nervous, but we still have a lot of faith that this administration, and secretary perdue, a big voice in the room with the president talking about nafta. when you talk about nafta, it makes the other countries nervous. we have seen mexico buy corn, other places some rice, other toces who can't even get talk to the menstruation about the daily problems, they have -- talk to our administration about the daily problems read them 200%. a does trade is what we want to work for. there are areas in nafta that need some work. we would support that. all, it is a wonderful trade tree for us. we don't want to do any harm. we want to do better. every time

i was told nafta changed 13 times. we have committee structures where both parties are representing the committee, and they can modify the agreement. they can adapt it to change. i think there you have the built-in mechanism if you want to make sure you remain more or less up-to-date. >> just to echo what damien said, i think, for example, tpp was sort of conceptualizedded as a living agreement that every two years or three years or even on a yearly basis you would have meetings of certain issue areas. for example, electronic signatures, that would be an area that the parties would continue to consult on. and you've seen this in other areas in the wto. they've had subsequent for the initial agreements, you've had subsequent agreements on certain areas like e-commerce, on -- there's telecoms, there's a reference paper, for example, things like that that were all where the parties came back together and said we need to build on the previous agreement provision. so, you know, insuring that there is opportunities to revisi

we're making progress on nafta. a lot of ang kpieour view is thr one nafta has not served the united states well, some people very well, but other people not done a good job. we're making headway, particularly with respect to the mexicans that we are making headway, a number of issues we still have to work through, but i am hopeful we'll be in the position. i think the most important to get a good deal, whether you'll find it acceptable, but most importantly i want it to be in agreement that the vast majority of republicans and democrats support, this is very important we have a new para dime in steel, that we get 20 or 25 democrats in the senate and a large number of them in the house to vote for this deal. i, as well, of course vote -- that's more much in reach of what we can do. >> i want to thank everybody very much. i really would like to see you come back with a counterproposal on the infrastructure. i think we're going to get that done. i really believe that's -- we're going to get a lot of democrats, a lot o

and canadian prime minister justin trudeau fires a warning shot of washington as nafta negotiations drag on he says no deal would be better than a bad deal. let's do business berlin's finally got some ammunition to ease international criticism over its huge trade surplus it shrunk for the first time in eight years and that's despite german exports hitting an all time high for twenty seventeen the nation known for its premium cars and precision machinery shipped close to one point three trillion euros worth of goods to the rest of the world a boost of more than six percent compared to the previous year which was also a record imports increased as well to just over a trillion euros that narrowed germany's torrijos trade surplus to two hundred forty five billion euros the government has been drawing fire from the u.s. and other trading partners over the imbalance that trade surplus is still huge and trump is threatened with measures he said china with tariffs is germany next that's a question i asked combat spunk chief economist york crema. first of all as a liberal economist i'm totally re

. >> nafta talks continue. canada's minister of foreign affairs sees cautious optimism. >> i think a win-win-win outcome can be achieved. >> the world's most valuable companies report earnings. >> we have not done a deal in 3.5 years, but this one was too good to pass up. >> we have shown we have what it takes. >> i think there has probably not been as good a time to be in banking in the three main economic blocks. >> it is all straight ahead on "bloomberg best." ♪ julie: hello and welcome. i'm julie hyman. this is "bloomberg best," your weekly review of the most important business news, analysis, and interviews from bloomberg television. monday, investors watched with keen interest as canada, mexico, and the u.s. concluded their sixth round of negotiations over the north american free trade agreement. ♪ >> u.s. trade representative robert lighthizer struck a chord of optimism, saying the latest round of nafta negotiations wrap up today. >> they made progress, but we are still not friends. contentious issue

korea, but let's get the nafta first. they want to renew the deal every five years, if they include that, are they enforceable to include those demands from the u.s., and what does that mean for future trade negotiations for nafta and other trade agreements negotiated in the future? referring to this unprecedented proposal where the u.s. is saying that every five years the deal will expire unless all the parties agree to renew it. against what trade agreements are about and that is to provide certainty. to provide the investment and trade climates that will allow our companies and workers to benefit from these agreements. let's recall that these agreements have a withdrawal provision. if one country wants to withdraw they canagreement, notify the other countries, wait a six-month. , and get out of the talks. calling for an agreement to end after five years as the purpose of a trade agreement. up on cherries? president trump trading things, is this a tough negotiator coming in, or is there a chance that he will disrupt the

whether it's a nafta or tpp. they are done separately through treasury and other agencies, but, i will point out something spread nafta, where you know we are renegotiating, u.s. has a big competitive advantage in financial services print $4.3 billion surplus in financial services with canada, 1.1 surplus with mexico. with respect to the tpp that you've heard about, we now have the tpp 11, president tromp withdrew from that transpacific partnership agreement. when he withdrew there were a number of reservations taken off the table because they were in the insistence of the united states, very quickly on financial services, they are about to sign this agreement very soon, but there are commitments with respect to financial services regarding relating financial institutions and investor and investment cross-border trade in services will also be addressed in the tpp. finally, there is something called the t tip which i think is still alive. the u.s. european trade agreement, i'm sure he address that very quickly, on

might be were drawing from nafta. what does that mean for the eu economy in the broad sense. >> well, i mean, i think i said earlier that we thought the conclusion of tpp was a positive. we wished it will and hopes it would enter into force. it's a shame the u.s. is for the moment at least not going to be party 0 that. i'm delight that the 11 are going ahead because that will we to our benefit and also negotiating with almost all the countries tpp. we're actually negotiating agreements of our own, so i think all of this will add to the economic activity to the benefit of the region and to benefit certainly of europe. on nafta to go back to the point we were discussing earlier and in response to the question from twitter, as an economist, as a trade specialist, as one who just looks from the outside, to me, for the u.s., nafta has been a success. i may be the only person in america willing to say that's because everyone else seems to feel obliged to -- to me it has been a success. it has certainly brought problems and

it is with the president that changes nafta. it all has to do with nafta. we are live in illinois. a couple of fronts behind me. hi in its banks and consequently not inevitable for the barges back there. they can't even get loaded. so they can't get the green out. that will pass. maybe not so much. president trump and as you point out the mexican president canceling their potential meeting. apparently got very heated over the issue of the wall. and mexico is now saying we bought a lot of your corn. 27.9% of u.s. corn. they are saying you know what in the last four months of the year last year they really ramped up purchases from brazil pretty wild. what that does is it reduces the market for corn here in the u.s. and so the price tends to go down. they are already getting a pretty low price. they talked us and they said i would not doubt that the rhetoric is driving buyers decision-making. they don't like uncertainty whether you are in mexico or in illinois. and that as that is what they are facing right now. i don't know if it is hey we just want to be careful. we've a place to go

a quick check on what is going on in the nafta-related currencies. r canadaeau fo saying he is willing to walk away from the nafta negotiations. if i had a canadian dollar for every time someone mentioned they might do that. as he can see we are ready have the dollar gained for now we see the dollar pushing to fresh h ighs. $124.36. the peso also, as you can see, the mexican peso their lower by 1.5%. scarlet: i like how you showed the one-year chart for the dollar because that has been the trend all year long. the move higher in the dollars temporary. purposeday but it has a when you look at commodities. there is an inverse relationship when you look at the dollar in the dollar commodities. when you look at oil prices on the day, they extended their losses after the equal and 30 jobs report. they tried to make a bit of a comeback, but the end of the day down by better than 1%. for the week we will see it down at 1.6%. aroundd some stability $65 a barrel right now. for now, that is where it is that we look over to the metals. strong u.s. jobs report t

julie: nafta talks continue. canada's minister of foreign affairs sees cautious optimism. >> i think a win-win-win outcome can be achieved. julie: some of the world's most valuable companies report earnings. >> we have not done a deal in 3.5 years, but this one was too good to pass up. >> we have shown we have what it takes. >> i think there has probably not been as good a time to be in banking in the three main economic blocks. julie: it is all straight ahead on "bloomberg best." ♪

saying no deal could be better than a bad deal on nafta. the country is renegotiating the decades-old deal, saying he will not accept anything that does not benefit the canadiens. he is striking the same tone as donald trump who has called for three trade -- free trade to be fair trade. both sides try to strike a new deal in just a few months. reporter: it has been 1.5 weeks since the latest round of nafta talks between canada, the united states, and mexico, concluding with negotiators say they are moving forward but with slow progress. during a visit, the canadian prime minister trojan -- justin trudeau said they will compromise on the trade talks that donald trump told the worst trade deal in history. trudeau said there are limits. >> we know there are ways to modernize and improve nafta to create win-win-win when we include mexico. there is a path absolutely for that, but we will not take a win-loss for the sake of a deal. reporter: there are several sticking points for the talks like having more contact with american-made automobiles. t

turbulence is started a good as we weeks ago meanwhile we heard that the round number seven of the nafta negotiation talks begun and it's tensions between the usa and mexico the president of mexico calling off a planned visit to the u.s. and to get in and yet the will not need to trump for now is there concern that these talks might fail as we've seen it many times before. the obviously this seems to be the disagreements between the mexican and the u.s. american president when it comes to financing the border what hope between mexico and the united states of the nafta talks there are going on all week along and i guess those won't be the last talks and actually the talks could drag on for longer as recently as expected the whole environment is highly politicized we will have the presidential elections in mexico this summer and then the mid-term elections here in the u.s. in late fall so those talks probably will drag on for a bit longer that's also why wall street does not pay too much attention to those talks at this point is going to on wall street thanks very much for the analysis. an