on for i believe eight years. it stalled under the trump administration. and so i really consider this an historic achievement. and it is -- it shows that multilateral collaboration can be successful. >> rana feruha knows all about this, columnist and associate editor at "the financial times." lovely to have you on the show. this agreement is a huge, huge deal, why? >> oh, it's some of the biggest economic news we've seen really in months. there's a number of things involved here. one, it's a foreign policy question. for america, this is all about getting allies on board an economic agenda. the biden administration came in and said, look, we've got to have agreement about things like tax, trade, regulation of technology. and this is the first step