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And he wants to bring down the value of the dollar to help boost exports. >> different but related subject, the trade deficit, something president trump talks about all the time, it is a source of major concern for him. he throws around the term, alexis, but what does it mean and what does it not mean? >> well, when you look at the trade deficit, at the end of the day, what he's worried about is climbing out of an enormous pile of debt, right? and when we look at all of these trade partnerships right now, what he's trying to do is not only deal with the deficits and debt, but figure out how we...

Like exxon are reaping very good profits, do we really need to continue these subsidies? and second, if confirmed, how would you as secretary of state help to fulfill our international commitment to phase out those fossil fuel subsidies? >> well, since it's two-part question, obviously the first part, i'm happy to offer a personal view on even though that's not within state department's role to make that judgment. this just comes from my understanding of how the various tax elements and tax codes treat certain investments, certain research credits and whatnot. and i'm not aware of anything the...

>> you get rising costs that is burdening people. you get the tax codes and rather than encouraging them to go overaccess. you look at regulations and those are critical steps. that will help people. >> so much is spoken about obamacare and the dangers inherent in that and the americans who would be there. do you see this going forward or as a negotiation where even democrats are not perfect about the way it is now. >> i would love the latter. >> realistically? >> i mean it sounds like what the republicans want to do is the number one thing on their list as obamacare repeals it. as you just me...

Proposed tax cuts were implemented with concerns about a growing national debt. how concerned are you about that estimate, nearly $6 trillion? >> a couple points on that, wolf. number one, you have to look at tax reform in conjunction with eliminating and reducing loopholes and preferences in the tax code. you've seen over the course of generations powerful lobbyists come to washington and carve themselves out of the tax codes. they're not paying the rates they pay today. if we can lower the rates but also make the code simpler without so many writeoffs and loopholes, i think we'll be way bett...

Repeopr repeal of obamacare. we're going to disagree on tax policy. but on something like infrastructure, if we can find common ground, we should. >> so on tax policy, you don't think he should take into account what nancy pelosi and chuck schumer want? that should be an all-republican affair? >> look, i think you should listen to everybody. if you can find common ground, you seek it and go forward. democrats, like republicans, are concerned that our tax codes encouraged businesses to work offshore. so, again, i can see some areas where we can find common ground, we should do it. but we should...