YouSaid · the spoken record

Michael Froman

lines on the record: 66
first: 2017-03-16
most recent: 2017-03-16
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“Institute of Politics. So we're about the business of encouraging that. I think it's hard to step away from these issues of public importance. And so in some form or another, I imagine I'll stay involved.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Take some time and process the experience of the last eight years and then think through what to do next. Spend a lot of time with my family, catch up with my kids, and think about how I want to contribute next.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“That's right. And as you mentioned, Chancellor Merkel, I think, has been very much upfront in trying to defend and preserve the so-called liberal democratic order in the context of these”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's significant, the level of concern. And I think it goes to what we're seeing both in Europe and in the United States. I think we're seeing certain institutions tested, certain legal regimes tested, to see just how strong they are, certain things I think we've taken for granted. We're learning have been more a matter of custom than of law and of strong institutions. And that's going to, I think, require us to rethink things as we come out of this. There are real issues. The anger that we saw here in the United States in this election, I think, reflects real economic anxiety. About wage stagnation, about widening income inequality, it's much easier to blame a foreigner for problems, whether it's an immigrant or whether it's overlay of the money.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Political issues, strategic issues, security issues. So this is not good for the United States to see the weakness, paralysis, and dissolution in Europe. And on the other hand, I think Russia is enjoying seeing these dynamics at work and is taking advantage of them. So we have a lot at stake in how these issues get worked out over the next year or two.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, look, I think these are critical. When you look at Europe and you see slow and uneven growth, you see the rise of right-wing populism, as you've seen, as you've mentioned France and Germany, but you also have the Netherlands and several other countries where you've seen the rise of right-wing populism. You've seen the distrust of institutions and the tensions with the whole European integration project, it's paralyzed Europe. It really has made it very difficult for Europe to play a more significant role both in terms of addressing its own problems, but also a role in the world. And that's bad for us. We want a strong Europe. We want to have a strong partner across the Atlantic, who we may not always agree on everything, but whose values we broadly share and who we can work with to make sure that positive things are going on elsewhere, not only economically, but whether it's around climate change or whether it's around”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, indeed. Having a transatlantic relationship, a strong transatlantic relationship, I think has strategic importance as well. There were issues that we were discussing in TTIP that would have enhanced the energy security of Europe. So they'd be less dependent potentially on Russia for their energy resources. Those are all part and parcel of what trade agreements can contribute beyond the pure economics, having a political and strategic importance as well.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I think it does have important strategic implications. First, I think any trade agreement needs to be justified on the economics. It's got to be good for jobs, wages here in the United States. But these also have big strategic implications. And at a time when Russia has been active on the periphery of Europe, when you've got the involvement in eastern Ukraine, when you have meddling in the affairs of Western Europe,”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think President Obama made clear that TTIP, which was our agreement with the European Union, was our priority, but certainly the UK is a special relationship with them, a quarter of all of our exports to Europe go to the UK. And so when the UK is out of the EU, I imagine whatever administration is in office would want to make sure that we have a close trade relationship with them as well.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“We'll see. We'll see. The Trump administration has talked about renegotiating NAFTA, doing a bilateral with the UK as part of its Brexit, and potentially doing a bilateral, which you would have done as well.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“It is in its politically costly, and I don't, knowing how difficult trade agreements and trade legislation is to pass, I don't know many members of Congress who would relish the idea of having 11 votes rather than one vote in order to have free trade with all these countries. So I think from a political perspective, you don't really see a”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Among others, among others. And this is a provision that is in 3200 agreements around the world, including 50 that the U.S. already has. So this is nothing new, in fact, through CPP, what we've done, is we've tightened up the standards, made it absolutely clear that governments can regulate in their interest, that companies can't sue because they were disappointed in their profits or they can't sue because the government changed regulations on them. So we've raised the standards, we've closed loopholes, we've made it much more transparent. In the absence of TPP, it's the old rules that apply. Those old rules don't go away. So the 3,200 agreements that are out there among countries where people can use investor state disputes settlement, those are still in existence today. It's just that they have a lower standard. They're worse from the perspective of the critics of ISDS than what we did in TPP.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“I think it's a bit of a red herring. If anything, most people who've looked at CPP, including from these other countries, have been worried that it's been the US that has exported its rules and regulations to other countries. Not that we've given up our sovereignty, but that we've helped spread the rules that we think are appropriate for the international system to other countries as well. One of the issues that's been criticized in trade agreements quite loudly is investor state dispute settlement. This is the neutral International arbitration”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“I've heard that. I've heard that. Look, I think part of it, I'm not sure there's a full understanding of exactly how TPP worked. Half the countries in TPP, we already had free trade agreements with. So we didn't give them anything. They didn't get any more market access to the United States. But we still got them to raise their labor and environmental standards and raise their intellectual property rights protections and raise their standards across the board because through TPP, they were able to get access to markets like Japan, writing on our coattails. If you bilateralize everything, what's in the interest of these countries who already have access to our market to raise their standards?”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Oh, there you go. Multiply that by a thousand products and twelve countries. And you can see that we could actually be making life more difficult for our workers and our farmers. If we can't export, we can't support jobs here at home.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, there's both the opportunity lost and then the actual decline. So the economists estimate that TPP would have added hundred thirty billion dollars to our GDP, that two-thirds of the benefits would have gone to workers, but split more or less evenly between skilled and unskilled workers. It would have added about a $350 billion of U.S. exports. And we know exports pay 18% more on average than non-export related firms. So that's that won't be pursued. On the other hand, what we do see is that these other countries are already moving ahead with their own agreements. So we're already losing market share in Japan, for example, to Australia that has a free trade agreement with Japan. It's cutting into our cattlemen's market share. Now multiply that by.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Right, and what the standards are in those deals, do they have strong labored environmental protections like TPP? Do they create an open and free Internet like TPP? Does it protect the digital economy that's been so important to our innovation? That's what remains to be seen”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Protection of intellectual property rights or disciplines on government owned corporations or anything having to do with a free and open Internet, those are the things that were in TPP that made sure that the rules of the road for the region reflected our interests and our values. And by withdrawing, we've basically created this void that China is all too eager to fill and that even our closest trading partners are going to line up behind. So I think it's quite going to have quite a long-term negative impact how the new administration deals with that and how they engage with the region. I think that's what remains to be seen and whether they do it through a series of bilateral deals.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, look, I think this is one of the things, the great ironies, that it's hard to be tough on China and withdraw from TPP in the same breath. What we warned would happen if we didn't pursue TPP is playing out in real time. China has a regional strategy. It's got something called the One Belt, One Road Initiative and the Silk Road Fund. It's created the Asian Infrastructure Bank. It's got its own trade agreement called RCEP with sixteen countries ranging from India to Japan. And with the withdrawal from TPP, they're doubling down on getting that done and implemented as soon as possible. That means we're going to be cut out of these markets. These countries will have preferential access to each other and will be on the outside facing high tariffs and other barriers. And the rules of this trade agreement aren't anything like TPP. There's no labor provisions or environmental protections.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“They call fairly frequently in the hopes that I have some great insight into what's going on in the new administration. And I have to admit to them that... Most of what I know I'm reading in the newspaper just as they are, but they are concerned. They want whatever their conflicts with the USR tensions they have with the United States. They fundamentally want U.S. engagement and U.S. leadership. And they look to us for that. And they are concerned then that the new administration may not be as engaged in this way as previous administrations, both Republican and Democratic, have been before”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“The G8 with our work with Congress on getting the IMF the necessary resources in addition to what we were doing domestically and what every other country was doing as well to contribute to that process.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“No, no, I don't think so, and not without the cooperation of other countries and the relationship we built with them. Look, to a certain degree, I think it's a bit of a false argument. I don't know of any president or any administration that doesn't put America first. That is their job. And that is certainly what President Obama did as well. The question is, how do you achieve that objective? And for so many of these issues, not sufficient. You can't raise the drawbridge and retreat behind a wall around the country and avoid an international financial crisis. You need the cooperation of the international institutions. You need the cooperation of the major financial centers around the world, the major trading partners to make sure that the appropriate policies and steps are taken to avoid that kind of disaster. And that's what we did through the G20.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“US leadership is apt and engagement is absolutely critical to getting anything done positively in the international system.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, we were all we were all scrambling, and the administration was just being put in place. Not everybody has been confirmed yet. But Secretary Geithner at Treasury, Larry Summers at the White House, we all worked in dealing with our counterparts in these other countries to, as you say, both generate the ideas. What would be the proposal? What would be the outcome of that summit that would send a positive signal of confidence to the international economy and would show that the major economies had come together at this remarkable time to take the necessary action? And even though the president had just been inaugurated, it had only been in office a matter of weeks. Everyone was looking to the U.S. for leadership. And it underscored for me the lesson that”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, there was quite a bit of concern almost to the degree of panic among other countries about what we were going to do to deal with this. And as you recall, the president was heading to his first summit in April of 2009, so less than three months as president. And that summit was really focused on what's going to be the international response to this crisis. It was one thing for us to do TARP domestically in the other programs and actions that we took domestically. But in order to prevent this from becoming a global depression, we needed the concerted cooperation of all of the other major economies, including mobilizing resources for the International Monetary Fund and for all the other mechanisms of the international system to make sure the crisis did not spill over into a broader global depression.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“But beyond that, it's such a huge privilege and honor. And I think it's one reason why I encourage anybody I know who has any interest under any president or any administration to go in and serve because there's nothing more valuable, nothing more self-fulfilling than that.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“You know what, as you know, it is a huge privilege. It is a huge privilege to serve. And whatever the sacrifice is in terms of opportunity costs or anything else, I mean, the only sacrifice that you really can never recover is the time with your family that you don't spend together. Yes.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“It's only money in that regard. And people who are losing a lot more than that, as you mentioned, their homes, their livelihoods. And I had just lost something far more valuable than that. And so while it was a very difficult period to go through and a difficult issue to work through, and I appreciate you and ROM Emmanuel, who was the chief of staff at the time working with me through it. At the end of the day, it simply doesn't matter on the same scale as these other issues”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Two years, about two years. So it was a terrible tragedy at home, a lot of tumult there, as you might imagine. Of course a tumult going on everywhere in the financial sector, in the economy. me leaving citigroup at the same moment and coming into the administration, a lot of things came together at one moment that was I'm going to say quite stressful, to say the least. But you know, it also helps put things in perspective. I mean, I remember very well the conversation that you and Ram and I had in Ram's office my first day when I reported for work at the White House. And the president had pulled me aside earlier that morning to say this is a problem. Go talk to David and Rahm about this. In the grand scope of things,”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, it's a long story, but my son had just died of brain cancer two weeks before. And that had been our old bone. Jacob, how old was he? He was about 10 and a half”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, no, I think that's right. I think that there was very much a sense that we were on the verge of what could have been a cataclysmic event and that it required that kind of intervention, which was, as you said, politically very unpopular. It took a lot of courage to move forward with it. It was still unpopular years later. But it was necessary to prevent the system from collapsing. And it led to, of course, a revision of the financial regulatory framework, which was necessary to deal with the excesses.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“I think everyone was trying to digest what it meant for an institution like that to collapse and what the spillover effects would be more broadly on the economy. It was a new event that people hadn't experienced before at that scale. And so there was a lot to digest. I think a lot of unanticipated impact that people were trying to do.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Mortgage backed securities or things of that sort. So I think one certainly follows it and has a feeling for, well, are the markets pricing risk adequately or not? But if you're in a different part of the financial sector, it's a little hard to have a textured understanding or an appreciation of what's going on.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, I think there are lots of different parts of the financial sector, and some parts work closer to those excesses than others. My last job as Citigroup was investing in infrastructure in the United States and around the world. It was quite different from insulators.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“You know, through our successive trade liberalization over the last 70 years since the Second World War, it's estimated we've added $13,000 to the annual income of every American family on average, reversing that is a regressive tax.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“If we ignore our international obligations, it makes it much harder for us to prevent other countries like China from also ignoring their international obligations. We've lost the moral high ground. We've given license to other countries just to say, well, it's good enough for the US, it's good enough for us. And again, since 95% of the world's consumers are outside the US, 80% of the purchasing powers outside the US, we need access to those markets if we're going to support good jobs in the United States. And the third is taxation. Raising tariffs on imports is a tax on the consumers who consume those imports. Tariffs are a particularly regressive tax. Low income Americans spend a disproportionate amount of their income on tradable goods, clothing, footwear, food. If you raise tariffs, you are imposing a tax on the parts of American society.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Isn't that good? Retaliation in that if we take action that is clearly illegal under our international obligations, we give license to other countries to raise tariffs or to impose other barriers on our exports, and that hurts our workers. We have 11.5 million workers whose jobs are dependent on exports. And if we give that open license to others to raise barriers to those exports, our workers are the ones who are going to be hurt. Similarly, imitation”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yeah, look, I think there, first of all, there's nothing wrong with the goal of driving more production, more manufacturing to the United States. That certainly was our perspective in the Obama administration, and it's a perspective clearly that President Trump is pursuing as well. The question is how to get it done. By raising tariffs on other countries, I think you run three risks. Retaliation, imitation, and taxation. Retaliation that if we do something, literally.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“And my question always to them is okay, what then would you have us do? We live in a global world. The global economy is real. Globalization is happening. We compete with low wage labor right now, whether it's for Mexico or China or Vietnam. If we do nothing but complain, but are not proactive about trying to raise labor standards in those countries, then we've done nothing to help support our workers here in the United States. At least with Rutrue TPP, we were able to take major steps forward. And what Vietnam agreed to in labor reform, what Mexico agreed to, was a very significant step forward in terms of raising and strengthening workers' rights in those countries. It would have benefited American workers. And instead now, with the absence of TPP, we're going to compete on an unlevel playing field with workers in other countries who don't have the same kind of labor rights that we have here.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, look, we tussled, but we also spent an enormous effort working with them to understand what it is they wanted us to do in the trade agreement, to particularly raise labor standards and strengthen workers' rights in other countries. That's a good in and of itself because it's important to underscore the dignity of work wherever it's taking place. But it was also a way, very from a U.S. perspective, of leveling the playing field. If workers in Mexico can now have truly independent unions that can strike, that can collectively bargain in a way that they haven't had before, that's good for Mexican workers, but it's good for American workers. And it's through trade agreements that we try and make those changes. So I feel like we partnered with the labor unions in many respects. They certainly did not agree with us at the end of the day. They didn't support the end result.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Germany on the apprenticeships, in Scandinavia there are programs where unions play a more active role in helping with transition. Singapore is a unique city-state situation, but they certainly have a very active program of helping to identify what skills are going to be needed and helping those workers who are in sunsetting industries make that transition. Korea has programs. So there's a lot I think we can learn from both other countries and from the states and figure out what can be done at the national level as well.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“They could be, but there's experimentation going on right now in various states where they are more proactive than we are at the federal level. And by the way, we can look around the world too. There are countries out there that do this much better than we do”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Look, that's right. And I think we need to be looking at how do you help provide skills at every stage in a career. And by the way, it may not always be a federal government program. It can be programs that states run, the localities run, that companies run, that educational institutions that you use.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, I actually thought that might be one of the silver linings of the recent campaign because for the first time you had not just Democrats but Republicans saying we need to do more for people and for communities they're adversely affected by change. We have a couple government programs and they are they do what they do, but we need to have a much more holistic view of this in terms of both preparing people with the skills that they're going to need to succeed in a rapidly changing economy and helping those who are adversely affected by change where that change comes from technology, from immigration or from trade to make sure that they can transition to a successful path forward as well. And we don't do a particularly good job of that. I mean President Obama had several proposals in budget after budget.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Face two choices if they have barriers. You can either close down your auto plant in the United States and move it to Vietnam to serve that market, or you can keep the auto plant in the United States, tear down barriers to Vietnam, and expand production here and export from here to Vietnam. Our view is that's the right approach to go. You want more production in the United States, more manufacturing in the United States. But since 95% of the world's consumers live outside the United States, we need to do everything we can to remove barriers to those markets and then raise standards in those markets so that they're not competing with us on an unfair level playing field. And that's what we tried to do through our trade policy.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Until now, it is one and a half percent. If you take the TPP countries, 80% of what we import from TPP countries already comes in duty-free. So we're already very open, but we face much bigger barriers abroad. Vietnam has got a 70% tariffs on autos. So if you want to sell autos to Vietnam, Vietnam, 90 million people growing six percent a year, a poor country, but with an emerging middle class, and they want the kinds of things that the US produces. They want our autos, they want our tractors, they want our agricultural products, they want our services.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“And he was quite clear on what it meant. And he talked about how labor and environment have to be treated just as seriously as any other issue in a trade negotiation, and that's what we did under his leadership when we negotiated the Trans-Pacific Partnership, which had binding and enforceable, very strong labor obligations in Mexico and Canada as well as 40% of the global economy.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Yes, absolutely. Look, I think one of the lessons learned, take NAFTA as an example, the Clinton administration inherited NAFTA and added labor and environmental side agreements. And the idea behind it was if we're going to be integrated with our neighboring countries, it's important that they not be able to avoid basic labor and environmental protections in order to get a competitive advantage on us. But these side agreements were not particularly strong standards, and they weren't fully enforceable. And as you know, when Senator Obama was running for president, he called for the renegotiation of NAFTA.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“trade have declined, and where we have seen a resurgence of steel production in the US, it's because it's been of a more high-tech sort with more automation, and that has shown how the impact of automation has the impact that automation has had on the workplace.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source
“Well, absolutely, because I There's a tendency that conflate globalization with trade agreements. Globalization has certainly had an impact on the US economy, on jobs, on wages. There's no doubt about that. But globalization is a force. It's the effect of the containerization of shipping, which made it easier to have supply chains around the world. In the services sector, it's the effect of the spread of broadband, which made it possible to do things in India overnight rather than having workers in the United States. These technological developments very much facilitated the spread of globalization with or without trade agreements. You take steel, for example, we had zero tariffs on steel. We don't have any prediction on steel in the United States. That's regardless of any trade agreement. And so as we've seen steel meals close, it is because either there's been cheaper labor abroad, it's been easier to ship steel from one country to another.”
2017-03-16 · The Axe Files with David Axelrod · Ep. 130 - Michael Froman · IDENTIFIED FROM THE TRANSCRIPT · source