President Donald Trump Makes Trade Deal Announcement | NBC News

President Donald Trump Makes Trade Deal Announcement | NBC News


THE OVAL OFFICE. AMID REPORTS OF A PRELIMINARY DEAL BETWEEN THE U.S. AND MEXICO TO REVAMP NAFTA. RENEGOTIATING TRADE DEAL, OF COURSE, HAS BEEN ONE OF THE PRESIDENT’S SIGNATURE ISSUES, ON THE CAMPAIGN TRAIL AND IN OFFICE. THIS PRELIMINARY AGREEMENT DOES NOT INCLUDE CANADA, WHICH IS ALSO A PARTY TO NAFTA. MANY BIG ISSUES REMAIN UNRESOLVED. STILL, IT WOULD BE A SIGNIFICANT STEP TOWARD THE PRESIDENT’S GOALS. NOW, AS WE AWAIT THE TAPE OF THE PRESIDENT, LET’S GET RIGHT TO OUR CHIEF WHITE HOUSE CORRESPONDENT HALLIE JACKSON. HALLIE, THIS IS SOMETHING WE HAD HEARD OVER THE COURSE OF THE LAST YEAR. NEGOTIATIONS MIGHT FALL APART. WHAT HAPPENED? WHAT DO WE KNOW?>>Reporter: NEGOTIATIONS HAVE BEEN HAPPENING FOR MONTHS. THE HEADLINES FROM THE PRESIDENT’S ANNOUNCEMENT WITHIN THE LAST COUPLE OF MINUTES, THAT YOU WILL SEE MOMENTARILY, THE PRESIDENT ANNOUNCING THAT HE HAS NEGOTIATED A NEW TRADE PACT JUST WITH MEXICO. THIS IS NOT NECESSARILY NAFTA RIGHT NOW. THE PRESIDENT SAYS THEY WILL CALL IT THE U.S./MEXICO FREE TRADE PACT. HE WAS IN THE OVAL OFFICE WHEN HE ACTUALLY GOT THE PRESIDENT OF MEXICO ON SPEAKERPHONE TO TALK ABOUT THIS. THE PRESIDENT FRAMING THIS AS A BIG STEP FORWARD, BUT HERE’S THE CRITICAL X FACTOR, CHRIS, CANADA. WHAT HAPPENS WITH CANADA? AS YOU KNOW, NAFTA INVOLVES NOT JUST THE U.S. AND MEXICO BUT ALSO OUR NEIGHBORS TO THE NORTH. FOR THE LAST MONTH OR SO, CANADA HAS NOT BEEN INVOLVED IN NEGOTIATIONS. >>THANKS SO MUCH, HALLIE. NOW, LET’S GO TO THE OVAL OFFICE AND LISTEN TO THE PRESIDENT. WE’LL SEE YOU BACK HERE ON THE OTHER SIDE. YOU CAN HEAR THAT. WHAT HAPPENS IS, THEY ACTUALLY HAVE TAPED THIS ANNOUNCEMENT BY THE PRESIDENT. THEY’VE BROUGHT IT BACK TO THE BRIEFING ROOM. AT THE BACK OF THE BRIEFING ROOM, THEY’RE TRYING TO GET THAT ALL TOGETHER. AGAIN, THIS IS THE 24-YEAR-OLD NAFTA FREE TRADE AGREEMENT. IT IS WITH MEXICO, WHERE THEY’VE REACHED A DEAL. WE’VE HEARD IN THE PAST FROM THIS PRESIDENT THAT DEALS HAVE BEEN REACHED AND THEY’VE NOT COME TO PASS. THIS SEEMS TO BE A DONE DEAL BETWEEN THE U.S. AND MEXICO. THE THIRD PARTY WILL BE CANADA. THEN, EVEN IF CANADA CAN BE BROUGHT IN, AND THEY’VE ALREADY INDICATED NOW THAT THEY MAY BE WILLING TO COME IN, THEREFORE, THE FOREIGN MINISTER IS COMING TO THE U.S. EITHER LATER TODAY OR TOMORROW, IT STILL WOULD HAVE TO GO BEFORE CONGRESS. THIS IS A KIND OF TREATY THAT NEEDS APPROVAL BY CONGRESS. LET’S LISTEN TO THE PRESIDENT FROM JUST MOMENTS AGO IN THE OVAL OFFICE.>>HELLO, EVERYBODY. IT IS A BIG DAY FOR TRADE. A BIG DAY FOR OUR COUNTRY. A LOT OF PEOPLE THOUGHT IT WOULDN’T GET HERE. WE ALL NEGOTIATE STUFF. WE DO. SO DOES MEXICO. THIS IS A TREMENDOUS THING. THIS HAS TO DO — THEY USED TO CALL IT NAFTA. WE’RE GOING TO CALL IT THE UNITED STATES/MEXICO TRADE AGREEMENT. GET RID OF THE NAME NAFTA. IT HAS A BAD CONNOTATION BECAUSE THE UNITED STATES WERE HURT VERY BADLY BY NAFTA FOR MANY YEARS. NOW, IT IS A REALLY GOOD DEAL FOR BOTH COUNTRIES. WE LOOK VERY MUCH FORWARD TO IT. I BELIEVE THE PRESIDENT IS ON THE PHONE. YOU CAN HOOK HIM UP. TELL ME WHEN.>>THE PRESIDENT THERE MAKING THAT ANNOUNCEMENT, SAYING IT IS A GREAT DAY FOR THE UNITED STATES. HE IS WAITING TO TALK — OR WAS WAITING TO TALK ON THE PHONE TO THE PRESIDENT OF MEXICO, ENRIQUE PENA NIETO. LET’S GO TO HALLIE JACKSON. WHAT DO WE KNOW ABOUT THE DETAILS OF THE PACT?>>SOME DETAILS ARE SKETCHY. THERE WILL BE A TIME PERIOD WHEN THE DETAILS WILL BE WORKED OUT IN THE PAPERWORK, ET CETERA. YOU ALSO MENTIONED THAT ANY KIND OF A DEAL DOES NEED TO BE APPROVED BY CONGRESS. PRESIDENT PENA NIETO, WHO THE PRESIDENT IS TRYING TO GET ON SPEAKERPHONE — WHO YOU HEAR BEGINNING TO SPEAK IN SPANISH — SAYS CANADA SHOULD BE BROUGHT INTO THE DEAL. THE PRESIDENT SAYING THAT EITHER CANADA COULD COME INTO THIS DEAL, MAKE IT A THREE-PARTY DEAL, OR THERE WILL BE A SEPARATE DEAL WORKED OUT WITH CANADA. IF THAT CANNOT HAPPEN, THE PRESIDENT IS THREATENING NEW TAR TARRIFFS AGAINST AUTOMAKERS. IT IS A PROMISE MADE BUT NOT YET KEPT UNTIL, IN FACT, THIS TRADE DEAL IS COMPLETE. >>WE ONLY SIGN ON TO A NEW NAFTA THAT IS GOOD FOR CANADA AND THE MIDDLE CLASS, HALLIE, IS THE WORD FROM THE OFFICIAL IN CANADA. WE’VE ALSO SEEN REACTION ON WALL STREET TO THE PRESIDENT TWEETING THIS MORNING ABOUT THIS AGREEMENT. REACTING FAVORABLY. THE NUMBERS HAVE BEEN UP ABOUT 200 POINTS. LET’S GO TO OUR BUSINESS CORRESPONDENT, JO LING KENT. WE HEAR RIGHT NOW THE MARKETS ARE UP 206. A POSITIVE REACTION BUT ALSO WAIT AND SEE ON WALL STREET?>>Reporter: YEAH, ABSOLUTELY. WE’VE SEEN SOME GAINS, BUT NOW THEY’RE PARING BACK JUST A LITTLE BIT. WE DO — WE ARE HOVERING RIGHT AROUND 200 POINTS UP ON THE DOW RIGHT NOW. THE NASDAQ ALSO CROSSING 8,000 FOR THE FIRST TIME TODAY, IN REACTION TO THIS NEWS. LET’S TAKE A VERY CLOSE LOOK AT SOME OF THE COMPANIES THAT MAY BE AFFECTED. WE’RE TALKING ABOUT GENERAL MOTORS, FORD, FIAT CHRYSLER, CATERPILLAR, OF COURSE. THESE COMPANIES HAVE BEEN ON THE FRONT LINES OF THIS BACK AND FORTH BETWEEN THE U.S. AND MEXICO, WHICH VERY MUCH CENTERED AROUND STEEL AND ALUMINUM. THOSE COMPANIES THIS MORNING, CHRIS, ARE NOW UP ABOUT 2%, ABOUT 4%. WE’RE SEEING SOME VERY POSITIVE REACTIONS TO THIS EARLY, EARLY DETAIL OF WHAT THIS TRADE AGREEMENT COULD LOOK LIKE BETWEEN THE U.S. AND MEXICO.>>VERY MUCH JUST THE FIRST STEP. THANK YOU VERY MUCH. MUCH, MUCH MORE ON ALL OF THIS, PLUS THE LATEST ON TRIBUTES FOR SENATOR JOHN McCAIN AND ALL THE OTHER TOP STORIES TONIGHT

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