Agreement this year. We need a creative and pragmatic approach to resolve any outstanding issues. The europeans have a lot on their plate. The brexit vote, the migrant crisis. We sympathize with them and hope they can summon the political will to get this done. Ende is more at stake the ever before, given the questions being raised about the nature and future of the european union. The bold action necessary to promote the growth in jobs . Create the future opportunities young people in to thrive . Need will they be able to play a leadership role . It is very much in the interest of the United States that we have the strongest possible europe as a partners. Outwardly facing, capable of working together to share our interest. True and the economic arena, true across transnational matters. Turbulence is unavoidable. The question is, how do we manage it. There is a great deal at stake. Over the years, there has been no more responsible voice than the committee. I look forward to working with you during this important time. Thank you very much. [applause] thank you mike, for making a positive case for the Transpacific Partnership as well in europe. I have a couple questions for over tore you turn it the audience. There is confusion with some of the statements that president obama made when he was trying to help Prime Minister cameron get the remain option of adopted by the british people. He talked about being at the u. K. Being at the end of the line with the discussions with and he was very positive about the special relationship with the eu. Do you see it as a possibility you could negotiate with the eu and u. K. At the same time or does one need to come before the other or does it have to be worked out based on what happens over the coming weeks and months . At you probably answered the question yourself. Our focus is these platform agreements which are intended to be open to other parties who are able to meet these standards. Where our focus is and there is a lot to be worked out the two in the coming weeks and months. Think, moving on to asia and the Transpacific Partnership, so much progress by yuri made equivalents in asia over the last year. Problems a lot of people see and i was in the eu recently with some of the chief when they seen the statements of the major candidates, Hillary Clinton who at 1. I sat next to her when she made a comment a few years ago that this was sort of the golden ats say possibility for trade agreement, tpp. She has come out against it, Bernie Sanders very much, and obviously donald trump. How do you see that affecting becauseressional vote, it is one things for candidates to Say Something when they are running for office for an , president ial election, but it is another the impact they will have on Congress Going forward when this vote takes place. Michael i am spending a lot of my time on capitol hill meeting with members of congress and the good news is that fundamentally members of congress are focused on what the impact of the constituentstheir and key stakeholders, with the impact will be of the agreement keyhose constituents and stakeholders. As we walk through what is in there, there is a very good reception on their behalf for what they see there. It goes to the issue of timing as well. I will give you an example. A story has a Free Trade Agreement already. So if australia exports expand based on lower tariff, as a result our market share is the longer we wait to approve tpp, the wider the differential will be and the more we will lose market share. Already we are losing over 125 money dollars of exports each year and that will grow in time. Areas, those who have producers in their district, if you hear that, understand that, it they hear that most importantly and it focuses their attention on how we are going to get this done and when. You can multiply that by dozens of sect ors and countries. We are Building Support there, answering questions, working with congressional leadership. But the and of the day, they are confident the votes will be there but weve got to get it done they share. Host the final question i have a end we will turn it over to the audience, their is a lot of support for in investment treaty with china. How do you see that fitting in this possibility and you are just in china and i know you are talking with the chinese about the hold tpp effort. Michael it is on a parallel track. We have had negotiations for a number of years and really for the last three years in earnest as they began to negotiate on what they begin to negotiate on that we called a negative list. All stages in the process, those negotiations are continuing. I was in china recently and had conversations with the leadership there then. The chinese have been here since aunt they have given us a new version of their art negative list which we are evaluating. There has got to be a High Standard agreement. That means it has to effectively open up chinas economy and movement from a world in which everything is prohibited and regulated in it is explicitly hasoved to wanted everything approved unless it is regulated. That needs to be a quite short list. You also have to deal with issues that have come up in particular environment that ,hina presents for investment issues our investors have had their over the years. We have to deal with that as well in this agreement. Host do think theyre going to wait around to see what happens with tpp before they get serious . All indications from the president on down as they are taking the process seriously. They are putting a lot of effort in an and i think they would like to get it done. I would like to do is go to the audience. I would like to invite participation before mike has to leave. Can we have a microphone upfront first . Right there. Robert with international investor. I like simple questions. Mine is, is the purpose of the trade agreement to stimulate exports more than imports . Would you expect to see the ratio of our exports rise versus the imports that come to our nation if these are passed . The halls in the imf are filled with economists much better than i aspire to be. Most would say a lot of factors go into trade balances and current trade balances for relative growth rates. So it is hard to pinpoint and particular the impact of a trade agreement on a particular balance. What i would say is, since our average applied tariff is 1. 4 and i will give you two examples. We face 70 tariffs on automobiles and tpp countries. 70 5 machinery. On pork. Up to 100 on certain agricultural products. All of which could be eliminated or greatly reduced and we would expect to see more exports. We would lower our barriers very little. Other countries would lower there is in a much more significant way and at the same time, raise standards. Host in the back there. Murray. Questions. Quick one is in the light of the Bretton Woods conversation, the plural lateral agreement seems to be in contradiction to the whole philosophy of the wto organization whereas by avoiding or not using the wto forum. The second question is concern about the state dispute resolution mechanism in which a somehow has two if somehow the expected profits are not made. Can you speak to those two topics . Michael first to multilateralism, we continue to believe Multi Lateral trade is the highest form. At the wto, for a whole series has reached a deadlock. That is why two and a half years ago in nairobi it and in december, the wto moved forward with the first case of multilateral trade facilitation agreements. In nairobi, an agreement on export subsidies. Also a recognition there was no theer a consensus that mandate should continue as is and that we should be focusing on creative ways of dealing with outstanding issues but also new issues facing the multilateral trading system whether it is ecommerce or smallmediumsized businesses. The http nt tip, we will have free trade for two thirds of the Global Economy. Otheren is also with countries. When you have two thirds of the Global Economy getting there around a certain set of rules in to open markets and sign up to higher standards, it gives momentum to the multilateral process as well. To see those roles multilateral highest. Right now is probably the most open, honest, frank discussion in 15 years,he wto where the ministers into ambassadors in geneva are talking about what is it we can get done multilaterally, what can we do multilaterally that be able to go plural multilaterally. And when circumstances are right, you can also multilateral i said. Tpp, 30 years what minute background. There are 3200 agreements in the world. The u. S. Is party to 51 of them. We have been working in our subsequent agreements to reform the process by raising up,dards, tightening them adding procedural and substantive safeguards and closing loopholes where we found them in other countries agreements. One of those issues that you mentioned, and makes clear the issue you cannot sell on the basis of disappointed expectations with regards to process. That alone is not a basis for a suit. Reformsone of two dozen in the agreement that helps make sure i see as is being used for what it was intended to be used for. When government comes in and experience property, for example. And not being used in ways was not intended for. Yes, back there . Yes . Thank you. Steve with deacon policy advisors. Mr. Ambassador, in the runup to the recent u. S. China strategic dialogue, there were reports of issues that would be on the table. One of them included the ongoing solar panel dispute and resulting proposal content if from china. However, in the fact sheet that came out, there was an absence is on steel and some of the other issues but there is not a mention of the solar issue. I was wondering if you could give us a status report on where that is. Thank you. Michael we discussed it when i was there. The minister and i, our teams have continued to discuss that issue. It is a longstanding outstanding dispute, something we would like to try to find a way of settling and our will take place in shanghai with minister gao in a couple weeks. Questions back here and then one in the front. Hello. Can bid lower. Accident netanyahu is going to ottawa for the summit. Canada has not taken a position on the tpp. It is the only of countries who have not stated whether it intends to ratify or not. Do you think it would be helpful join with mexico and the United States . Would it help with the ratification process in the United States . Do you think it is likely . Was negotiated under the Previous Administration in canada in need to know administration came in they made it clear they wanted to go through a robust consultation process around the country, different sectors and parts of the country, to make are they had the input of wide range of stakeholders before moving forward with tpp. And that is the process they are undergoing. We respect that decision. We respect that process and i do not think it has the significant process in the United States. I am looking at this from a different perspective. My name is martin. I am a scientist representing a large number of scientists. When we look at these kind of things, we would say at some point if you have a whole bunch of people who agree on something andone whose does is not you want to make a decision that the people who agree can do something in the one who does not agree what have the choice of joining or going out and negotiating a better do by themselves, would that be a feasible option . Michael are you referring to the wto . Tpp. Michael in canada . No. Procedures have negotiated for that. If at the end of the day, not all countries and all of the tpp countries are going through domestic approval processes. Some are further along in terms of ratifying it. All of them are engaged in the process now. If all 12 countries are not ready to approve and and putting it together, there are provisions for a subset of countries, six countries representing 85 of the gdp by the tpp countries to go ahead and bring it to force. That effectively means the United States and japan need to be part of the group that rings and into force but we have to for all of the countries. We have to wait for all of the countries if some of them are going more slowly. China. S go back to you mentioned the challenges it faces. The first speaker this morning that did not accept this changes is inevitable. Is going onat what with the tightening of domestic dissent and what is going on in the south china sea, those look like changes in town and they do not look positive. Have you seen the same kind of thing happening around theyd or do those continue to much the lastas they were the couple years . Michael i think we see mixed data points. Bill isositive side, as they are quite serious about bilateral investments. There is a lot of seniorlevel attention being paid to it to parts of thent government and economy in and try to pass forward there. They seem to genuinely want to use it as a way to drive reform and parts of the economy. Whether or not we get to the high point remains to be seen but i think they are serious about putting effort into the process. If you go back and look at forward leaning statements about reform. You look at statements about as so we reforms from a few years ago and it has been less than the degree to which those have been fully followed up on and implemented. I think the record is rather mixed. John negroponte. Hello, ambassador. On the subject of china, i was out there at the same time as you were. I was involved in some of the track to discussions and i once conducted the Political Part of the political and economic dialogue. To me, at least in the security spear, and probably in the economic comic it seems axiomatic that Going Forward in the next decade, not just tomorrow, that the more we can work with china to accomplish global objectives the more likely we are to be successful and the converse of that proposition is that if we are in serious disagreement on particular questions than it is going to be hard to get things done on a global scale. I am thinking of the example of the climate agreement we reached i laterally and accomplished and paris. In adopting an inlusive approach to china thinking about the future of the system . Conomic into then, how do those things you have been working on the past couple years, if you agree with that proposition, advances toward that goal . Michael the answer is yes. Is the second largest economy in the world and by some measure the first largest trading economy in the world, china has a very Significant National interest in the health and strength of the global trade system. We need them to take on responsibilities commensurate with their role in the Global Economy. That is one of the driving g20 andehind the certainly one of the driving forces of our efforts within the negotiations trade to engage with china and urge them to play a leadership role in some of these areas. Take the Information Technology agreement negotiation, it was stuck for a long time. We reached a bilateral deal with china. It took longer than it should have to reach the deal but once it was done we were able to work to bring the other parties along. We are trying to do the same thing now in terms of engagement with the chinese on the environmental agreement. We have countries representing 90 of the environmental goods movement. Ready to eliminate tariffs on a whole range of goods that are good for the economy and environment. No country would benefit more than china in terms of the producer of the goods and a country that desperately needs the disbursement of the environmental goods to deal with its environmental issues. We are urging china to come to the table and be an active party and the negotiations. And certainly, the wto, we are always encouraging them and they played the en Important Role ultimately in nairobi along with a handful of other countries. Think thelly, we rolesbased system has been good for china. They have benefited enormously from it. We think it is necessary for a roleo step up and play with greater responsibility for that system and commensurate, again, with the size of its economy and role. One more question. I promised to get mike out of here by 11 15. Question, given the realities of the election, if the tpp 10 be allornothing in the lame taxation, are you want to wait for that rather than trying to get politicians to commit themselves before the election . Michael we are working day and into day out to lay the foundation. I think it is a challenging political environment. Trade agreements are always hard. S environment is of course presents its own unique challenges. But we are working up on the hill with individual members and feel good about those conversations that the necessary support will be there whenever the leadership opens up the appropriate window. Host must give mike a big hand. [applause] thank you, ambassador. Thank you, bill. Two straight shooters. Refreshing. Were moving into the final program segment. Are reales folks who movers and shakers in the world of sustainable development. We have ceo of mckinsey social andiative, eric from usaid, craig from the Asian Development bank. The session is moderated by scott morris, eight Committee Member since he left the treasury and he is now a senior fellow at the center for Global Development and director of the rethinking Global Development initiative. And, he works on issues related five and particularly the relationship of the eye and the United States. The ifn five and the United States. Thank you, randy. Let me start with format. We are going to be having a conversation on the podium. Introduce anefly excellent panel. I am really pleased and looking forward to hearing from them on the broad topic of Global Development. To do a fewy best minutes of framing the issues before i turned to them for questions and then turn to you for questions. Lets me start to my left. Administra