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COMING UP:Share Opener Variant 4

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Transcript

00:00:00
>>
SOUND] G
eat thing for the American worker, what we just did.>> After officially withdrawing the US from the Transpacific Partnership, a trade deal that had never even been approved by Congress. President Trump aiming to show he's serious about keeping manufacturing and jobs at home.>> We want to start making our products again.
00:00:19
>> But it shows something else to US allies in Asia, says senior political correspondent Steve Holland.>> It's a message to Asia that he's gonna focus on American jobs. But it's also likely to send a signal to them that China is gonna be of growing influence in the Asia-Pacific region.
00:00:40
Because, one reason that the TPP deal was struck was to extend the American influence into that area. Now, if the United States is perceived as withdrawing, then that can only benefit China.>> Until Midday Monday the US trade representative website was still promoting the TPP but was finally replaced with a paragraph describing Trump's America first trade policy.
00:01:06
Trump now setting his sights on what comes second and a distant third, Canada and Mexico respectively.>> You could foresee some serious trade frictions, perhaps even a trade war to break out if Trump were to go ahead with the renegotiation of NAFTA in the way that he's talking about.
00:01:25
Now, whether he can actually impose tariffs like this unilaterally without congressional approval is another matter that we've yet to address.>> The head of Trump's Business Advisory Council saying on Monday that Canada has a, quote, very special status and is unlikely to be hit hard by changes the US wants to make to NAFTA.
00:01:45
As for the neighbor to the south, Mexico's Economy Minister saying if any change is made to US tax policy that affected imports, it would have to be countered with a quote, mirror action in Mexico.>>
FOREIGN]
> Mexican President Pena Nieto saying in a speech Monday that while he will fight to keep free trade with US and Canada, Mexico is also looking elsewhere for trade deals with other countries.
00:02:10
This week, senior US and Mexico officials will meet to discuss trade policy. Trump and Pena Nieto are scheduled to meet face-to-face at the end of the month.