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The trump administration after years of negotiating with china has finally reached a phase one trade deal, a deal treasury secretary steve mnuchin calls historic. let s take a listen. the china deal, which ambassador lighthouser and i have been working on for two years, we finally have completed what i consider to be a historic phase one trade agreement. joining me now is yahoo finance reporter can a beal. you heard steve mnuchin talking about this as a historic deal and still the dow went down. what we re seeing is president trump is calling this an mazing deal but wall street ....
Honor. the presidential medal of freedom. something very, very special. we re joined today by many members of my administration, including secretary of state mike pompeo. hello, mike. steve mnuchin. steve, thank you very much. wilbur ross. alex acosta. matt whitaker. ben carson. betsy devos. administrator linda mcmann. ambassador lighthouser and acting administrator who i will tell you is going to be made permanent, he s done a fantastic job and i want to congratulate him, epa adam wheeler. where is he? congratulations, adam. great job. great job. thank you very much. ....
Spending is that people build factories, that s what capital spending is, and they do that in the first half of the year, it s up 10% since the beginning of the year. and in the second half of the year, those factories start producing output, so you get more output. so the idea that the trend might not continue, that it s a sugar high, is just inconsistent with the form that the growth is taking. and as for nafta, ambassador lighthouser and the whole team have been in negotiations with canada and we hope they ll sign on to the deal with mexico which is a better deal for american workers and they should sign on to that. i ll come over here and back to you. hi. pbs newshour. i have a question about income inequality. can you talk a little bit about whether you ve seen income inequality shrink. and are you at all concerned about whether or not people who are just shorpoor, not just peo in the economy, but actual poor people that are living below the poverty line, are they being impr ....
Questions, andrea. let me tick through a couple of the top lines here. the president wanted to focus on school safety as we prepare to enter a new school year. he went around the table and talked to some of the key players about what specifically they re doing to make sure they make schools safer heading into this new year, including betsy devos, jeff sessions, kirstjen nielsen. and then he also talked about trade. he wanted to focus on trade as well. when he opened it up to robert lighthighser, there was a little bit of news there. he talked about the fact that they are making progress in their talks with mexico. perhaps on a trade deal. the president was very clear. he said, look, if you don t get a good deal, walk away from the table. a bad deal is better than no deal at all. lighthouser said in this case, i think it might be a good thing to get a laughter in the room. again, i thought it was striking to actually hear the trade rep say he does feel as if they are ....
Administration that feel that china maybe came out on top. you mentioned navarro. i know he and ambassador lighthouser, two of the hard-liners within the administration, are keen to keep reminding the president that talks with china have not worked in the past. that s something that administration officials, when they announced these tariffs several weeks ago, they were very quick to say, look, we ve been talking to china for decades, and talk is cheap here. so that is something that you have several members of the administration that are continuing to tug at the president s pant leg to actually tell him about it. secretary mnuchin did say on cnbc this morning he expects energy expert ports to china ton the neighborhood of $40 billion. so he would put a couple of numbers on the table as far as what he expected. but because you don t know exactly what china will end up buying or how this deal would potentially pan out, i think the administration is reticent to ....