The following is a transcript of an interview with U.S. Trade Representative Robert Lighthizer that aired Sunday, December 15, 2019, on "Face the Nation." This interview was taped in-studio Saturday, December 14, 2019
MARGARET BRENNAN: This week, the U.S. and China agreed on the first phase of a trade deal that would roll back some American tariffs. It's expected to be signed in early January. We're joined now by the U.S. Trade Representative, Robert Lighthizer, the top negotiator in those talks with Chinese officials. Good to have you here.
U.S. TRADE REPRESENTATIVE ROBERT LIGHTHIZER: Thank you for having me, MARGARET.
MARGARET BRENNAN: It's huge to have the two largest economies in the world cool off some of these tensions that have been rattling the global economy. But I want to get to some of the details here. China says still needs to be proofread, still needs to be translated. Is you being here today a sign this is done, this deal's not falling apart?
AMB. LIGHTHIZER: So first of all, this is done. This is something that happens in every agreement. There's a translation period. There are some scrubs. This is totally done. Absolutely. But can I make one point? Because I think it's really important. Friday was probably the most momentous day in trade history ever. That day we submitted the USMCA, the Mexico-Canada Agreement with bipartisan support and support of business, labor, agriculture. We actually introduced that into the House and the Senate on this, which is about 1.4 trillion dollars worth of the economy- I mean of- of trade. And then in addition to this, which is about 600 billion, so that's literally about half of total trade were announced on the same day. It was extremely momentous and indicative of where we're going, what this president has accomplished.
MARGARET BRENNAN: Well, that is significant and I do want to get to the USMCA. But because the China deal just happened--
AMB. LIGHTHIZER: Right.
MARGARET BRENNAN: --and we know so little about it, I'd like to get some more detail from you. You said this is set.
AMB. LIGHTHIZER: Yes.
MARGARET BRENNAN: You expect the signing in early January still.
AMB. LIGHTHIZER: Right.
MARGARET BRENNAN: What gives President Trump the confidence to say China's going to go out and buy $50 billion worth of agricultural goods because Beijing hasn't said that number?
AMB. LIGHTHIZER: First of all- let me say first of all, I would say this. When we look at this agreement, we have to look at where we are. We have an American system, and we have a Chinese system. And we're trying to figure out a way to have these two become integrated. That's what's in our interest. A phase one deal does the following: one, it keeps in place three hundred and eighty billion dollars worth of tariffs to defend, protect U.S. technology. So that's one part of it. Another part of it is very important structural changes. This is not about just agricultural and other purchases, although I'll get to that in a second. It's very important. It has IP. It has- it has--
MARGARET BRENNAN: Intellectual property--
AMB. LIGHTHIZER: --technology. It has- it has currency. It has financial services. There's a lot of very- the next thing is, it's- it's enforceable. There's an enforcement provision that lasts 90 days- it takes 90 days and you get real, real enforcement. The United States can then take an action if China doesn't keep its commitments--
MARGARET BRENNAN: Put the tariffs back on?
AMB. LIGHTHIZER: Well, you would take a proportionate reaction like we do in every other trade agreement. So that's what we expect. And finally, we'll- we'll find out whether this works or not. We have an enforcement mechanism. But ultimately, whether this whole agreement works is going to be determined by who's making the decisions in China, not in the United States. If the hardliners are making the decisions, we're going to get one outcome. If- if the reformers are making the decisions, which is what we hope, then we're going to get another outcome. This is a- the way to think about this deal, is this is a first step in trying to integrate two very different systems to the benefit of both of us.
MARGARET BRENNAN: But that $50 billion number, is that in writing?
AMB. LIGHTHIZER: Absolutely. So- so here's what's in writing. We- we have a list that will go manufacturing, agriculture, services, energy and the like. There'll be a total for each one of those. Overall, it's a minimum of 200 billion dollars. Keep in mind, by the second year, we will just about double exports of goods to China, if this- if this agreement is in place. Double exports. We had about 128 billion dollars in 2017. We're going to go up at least by a hundred, probably a little over one hundred. And in terms of the agriculture numbers, what we have are specific breakdowns by products and we have a commitment for 40 to 50 billion dollars in sales. You could think of it as 80 to 100 billion dollars in new sales for agriculture
