so even in our fta, we have some in-built liberalization agendas and we have other ftas. so any positive progress towards an arrangement is something that we would welcome very much. >> yes. >> hi. mary berger with washington trade daily, and this is for anyone who wants to answer. but i believe all the speakers mentioned the need for wto reform. so i'm just wondering how optimistic you are about wto members reaching a consensus on wto reform and how quickly you think that can happen. thank you. [laughter] >> everyone's looking at me. >> well, your leaving -- you're leaving, so -- [laughter] yeah, yeah. i mean, to be honest, i think it's an impossible question to answer, mary. you're behind the pillar, p i can't see you. but, you know, in new zealand you have to be an optimist to be in this game, and you have to be particularly optimistic if you're a new zealander in this game, i think, given that you don't bring any sort of hard power to the equation. and, you know, we're optimistic that good ideas can work and be accepted, and so that's what we're in the market of tryin

even in our fta we have some liberalization agendas and other ftas. any positive progress towards an arrangement is something that we would welcome very much. >> yes. >> mary with washington trade daily. his is for anyone that wants to answer. i believe all the speakers mentioned the need for wto reform. how optimistic you are about wto members reaching a consensus on reform and how quickly you think that can happen? thank you. >> everything is looking at me. >> you're leading. >> i think it's an impossible question to answer. look, new zealand, you have to be an optimist to be in this game and you have to be particularly optimistic if you're a new zealander in this game i think, given that you don't bring any sort of hard power to the equation. you know, we're optimistic that good ideas can work and be accepted. that's what we're in the market of trying to do, is provide good ideas and square the circle where it needs to be. it's just impossible, i'm sorry to say, from here about kind of trying to evaluate possible time frames and stuff. i think it's

there is a framework there and we base our ftas on that. it might not be in fta the china and the us agree after ten years to negotiate but certainly there is a framework of principles upon which both countries can forge a new accommodation. to tammy's point, we are looking forward to the outcome of the trilateral process to see if it can translate into a broader coalition and we ourselves launched with japan and singapore and initiative on e-commerce. there are new initiatives that cover these new areas that are not already covered in the wto. >> next question in the middle here. >> merrily international trade today. i will address this to elizabeth. you just alluded to the fact that it took ten years to negotiate fta with china. it seems to me the current administration does not have that kind of patience. what is your view if there is a victory declared sometime in the next 6 months, but core issues are not really addressed, tech transfer and so on. do you feel it was wasted pain in terms of the tariff if that is the outcome? >> i allude

so there is a framework, we base ftas on that. it might not be an fta the china and the us agree, ten years to negotiate but certainly there is a framework principle on which both countries can draw to forge a new accommodation. to go to tami overby's point, we are looking forward to seeing the outcome of the trilateral process to see if it can translate into a broader coalition, and we have launched with japan and singapore and initiative on e-commerce. still -- philip houlding mentioned some areas that are not covered in the wto. >> next question in the middle here. >> merrily, international trade today. i will direct this to elisabeth bowes. it took ten years to negotiate your fta with china. it seems the current administration does not have that kind of patience. what is your view if there is a victory declared in the next 6 months but core issues are not addressed? do you feel it was wasted pain in terms of tariffs if that is the outcome? >> just, i alluded to this in my last response. australia always pursues free-trade agre

president on the visit to australia last year, discarded as a model fta. the china australia fta is much younger. it's approaching its thirst anniversary. after ten years of negotiation. beyond tariff outcomes, services market have secured commitments that trading companies from the requirement to enter into commercial partnership with china business in certain sectors. these agreements have been beneficial for all countries, australia, the united states and china. both sets of agreements have growth and investments. beyond this, these agreements have stability and predictability in our trading relationships. with dialogue. it suggests by 2030, asia will be the home of about 3.5 million the middle class. australia economy will complement those of a growing asian. demands for mineral and energy continue there will be significant opportunities for regional economies with services and agricultural products. aside central great agreements with china, one of the agreement we have in southeast asia that will support increased to a trade and investments. in our r

says no, it's an fta. it's a long story but the japanese side says lighthizer tricked their trade minister into capitalizing the words -- they hadpu it capitalized agreement and goods, light highser in the final moment put it to lower case and then the lawyern argued that s wasn't capitalized. they're not even able to agree on what to call it. and when the public comment period ends, i think you will see in january donald trump tweeting that he's going to do 232 on japanese autos to try to gett leverage and i don't think he'll do it because it's political suicide. autos touch everyone in the u.s. but nobody knows for sure. what we should really be talking to thegy japanese about is how deal with the chinese technology problem and state-owned enterprises and those elements. there's more of a constituency for doing that in the u.s. government but the dominant momentum is to open up the land market for things that don't matter strategically. in the late '80s at the height of the u.s./japan trade friction, my

withdrawal agreement which model we want to look at whether the government's proposed model or basic fta model, we would not be able to get those with the european union and less get the withdrawal agreement which has to have some assurance for the question of the irish border. it's not something we can act to get away from. the prime minister's case has not been given, so could you give us an example of the kind of extra reassurance that you think will bring lots of your collea g u es you think will bring lots of your colleagues on board ? you think will bring lots of your colleagues on board? what my collea g u es colleagues on board? what my colleagues are worried about is the fa ct colleagues are worried about is the fact that britain could be legally locked into a backstop against its will. they could extend the implementation period to avoid getting into the backstop on the fa ct a getting into the backstop on the fact a lot of eu countries themselves have said they will never wa nt to themselves have said they will never want to get the backstop because it doesn't fit with what th

well in excess of the arrangements standard under wto arrangement and go beyond those beyond recent fta, like other aspects the eu side is agreeing with this this should not be a standard third country... i do acknowledge the point. i mentioned it is not covered by the backstop which could kick in. can i stay on the subject of the northern ireland backstop, because i think it is probably one of the most problematic areas within the withdrawal agreement. can i start secretary of state by asking are there provision of the that protocol you are concerned about or are you come can fortable with the way it is drafted? there are there are compromises. concerns that you have, what would be the specific concerns that you have about the way the current backstop is drafted well, i think the first point i make is the intention is not to go into the backstop so there is a number of safeguards, one of which is the option to avoid going into the backstop. there is things like for example extending the interim period, implementation period. there is safeguards in terms of coming out of the backstop in

so to be in a bad situation now and increasingly recognizing these technology changes with that fta negotiation then given momentum with tpp alone they would have supported but not without us backup but because of this result they may have lost those abilities that opporte trade with the us. and with that position we are talking about. . >>. >> maybe lee i - - maybe i can add how they try to navigate this environment and to make the strategic choices. and the south koreans don't want to be pressured. and that better strategy where south korea is soft. but also another factor that determines long-term is who is shaping international order? with this direct competition but what the south koreans are saying that to be more of power based hierarchy and to know what that feels like and looks like historically so as this competition emerges that south koreans will look hard and also traditionally they have gone with living successfully. . >>. >> we just have a question. . >> and there are two dynamics , i guess there are three for which our allies and the natural evolution of that. the second is the

this new fta -- excuse me, new nafta agreement isn't much different from the old nafta. hasn't followed through on the wall very much. there's a lot of talk there. i think, therefore, you'll see more of that. lot of talk, not a lot of action. i'm trying to be honest, not partisan here i call them as i see them. i don't think he will get what he's talking about. >> ambassador baucus, thanks for taking the time. >> you bet. >>> time is running out to reach a spending deal at home. five days will remain. will lawmakers agree to a delay, temporary spending bill or is the government head ed for a shutdown? ♪ ♪ the greatest wish of all... is one that brings us together. the lincoln wish list event is here. sign and drive off in a new lincoln with $0 down, $0 due at signing, and a complimentary first month's payment. only at your lincoln dealer. and a complimentary first month's payment. and then, more jobs robegan to appear.. what started with one job spread all around. because each job in energy creates many more in this town. ...and i found out that i'ma from the big toe

free, butt is tariffs also access to japan and other markets in southeast asia by virtue of the other fta's. has a lotat vietnam of the basic factors necessary and looks good going forward. shery: mr. ambassador, thank you so much. backxt, washington pushing a government funding deadline as lawmakers prepared to honor former president george h.w. bush. this is bloomberg. ♪ this is bloomberg. ♪ shery: welcome back. i'm shery ahn in new york. paul: i'm paul allen in sydney. let's get a quick check of the latest business flash headlines. china says it would consider improving -- approving qualcomm's bid if it is -- agreement of a wider signed by president xi and tgrump -- trump. chinese regulators declined to clear the deal, although beijing later expressed regrets over the collapse. shery: they are said to be cutting jobs in key markets as part of a drive to reduce costs. as many as 100 positions could be involved in dubai alone, including some senior roles. the ceo launched a campaign to reignite growth at stanchart. trump says he is open to pushing back a u.s. government funding deadlin

believe that we may come to an agreement, not just because we came to an agreement with korea and their fta, but we've seen the eu in japan join with the u.s. on wto complaints that adds weight to the u.s. demand on these structural issues like technology transfer and intellectual property. there are other factors. we have got china focused on its made in china 2025 program that wasn't mentioned at all there's a variety of factors that could cause both sides to come to some sort of an agreement but they're far apart and 90 days is not a lot of time >> jeff kleintop, thank you very much appreciate it. >> thanks. >>> time for the rbi today it's about wall street's mvpc award world's most valuable company. amazon, apple and microsoft all held the title as the most valuable company the last couple of days. right now apple has the title by 10 billion over amazon microsoft is close behind. who do you think will end the year with the title of the world's most valuable company? we'll put out a poll on our twitter account. that's it, the horse race to be the top dog in the world random but interesti

for me, bigger picture is the whole and we will at a time fta there. charles: got to leave it there. meantime, the dow is up 280 points. we are off almost 200 from the highs but holding in. liz, it's all going to happen in your hour again. liz: in fact, breaking news. we just got our camera shot. we are outside the uk parliament, where the final tally in that confidence or no-confidence vote as it were on british prime minister theresa may is imminent. the markets have one eye on that and the other on the rally sparked by positive trade news with china. in this hour, we expect that final decision from conservative members of parliament on the fate of may's future as the leader of her nation, an issue torn by whether or not and how to exit the european union. ashley webster live on the ground outside the parliament and former ambassador to the european union, stuart

whole and we will at a time fta there. charles: got to leave it there. meantime, the dow is up 280 points. we are off almost 200 from the highs but holding in. liz, it's all going to happen in your hour again. liz: in fact, breaking news. we just got our camera shot. we are outside the uk parliament, where the final tally in that confidence or no-confidence vote as it were on british prime minister theresa may is imminent. the markets have one eye on that and the other on the rally sparked by positive trade news with china. in this hour, we expect that final decision from conservative members of parliament on the fate of may's future as the leader of her nation, an issue torn by whether or not and how to exit the european union. ashley webster live on the ground outside the parliament and former ambassador to the european union, stuart eisenstat, here to tell us how it could impact the nation's divorce from the european union. stocks still pretty much full steam ahead after reports from commodity traders that the chinese have flipped the switch and start

the us-japan fta, is it an fda? i mean, the japanese government still considers it a trade agreement in goods that the u.s. since no, it's an fda. it's a long story but the japanese side says lighthizer trick to their trade minister into capitalizing the words agreement and kurds to make it -- excuse me, they had a capitalist agreement. lighthizer put to lowercase and as a lawyer argued it's a trade agreement ends goods and services because that was not capitalized. they're not even able to agree on what to call it. in the public comment period ends, i think you will see in january donald trump tweeting is going to do joint japanese auto saccadic leverage for i don't think you'll get because it's going to come its political suicide. auto stretch egeland in the u.s. but nobody knows for sure. what we should really be talking to the japanese about is how we deal with the chinese technology problem and state-owned enterprises and those elements. there's more of a constituency for doing that in the us government but the

arrangement, which is that the uk leaves the eu, is part of the single market, the eea, but is part of the e fta market, the eea, but is part of the efta pearler, the european free trade association part of it with switzerland, norway, lichtenstein and iceland in and is therefore governed by the efta court rather than the european court ofjustice, outside the common fisheries policy, outside the common fisheries policy, outside the common fisheries policy, outside the common agricultural policy, would make some contributions but not as much as possible to the current eu budget and so on. i think we could get a consensus and it would be a reasonable compper mice. but it still needs a prime minister willing to compromise. although back benches can get together and show their will, if you like, how do you actually get it into action because you need a government and a prime minister who will do it? you shouldn't underestimate the amount of conversations going on at the moment between frontbenchers and backbenchers, and i think it is altogether likely that if we were to be in that position, if the p