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00:00MINISTER FREELAND, APPRECIATE YOUR TIME. LET ME FIRST ASK YOU WHAT CANADA PLANS TO DO ABOUT THIS NEW TARIFF ON LUMBER. HOW SERIOUS IS THAT AND HOW QUICKLY WILL THE TRADE MINISTRY SPRING INTO ACTION? >> WE ARE SPRINGING RIGHT AWAY. AS YOU KNOW, THE LUMBER DISPUTE IS SADLY FAMILIAR TO AMERICANS AND CANADIANS IN THE INDUSTRY. THIS IS ACTUALLY NOW KNOWN AS LUMBER FIVE BECAUSE IT IS THE FIFTH TIME WE'VE QUARRELED OVER THIS. WE HAVE WON -- THE CANADIAN POSITION HAS BEEN UPHELD EVERY SINGLE TIME IN COURT, BOTH AT NAFTA AND THE WTO LEVEL. WE ARE CONFIDENT OUR POSITION IS GOING TO BE UPHELD AGAIN. WE REALLY THINK THESE ALLEGATIONS ARE JUST WRONG. WE ARE GOING TO TAKE IT TO COURT AND WE ARE CONFIDENT THAT, AS HAS BEEN THE CASE EVERY TIME IN THE PAST, WE'RE GOING TO WIN. IN THE MEANTIME, WE CONTINUE TO NEGOTIATE. THE PRESIDENT AND THE PRIME MINISTER SPOKE LAST NIGHT AND BOTH AGREED THE BEST OUTCOME IS TO GET A QUICK NEGOTIATED SETTLEMENT. ONE OF THE REASONS THAT IS A GREAT OUTCOME NOT JUST FOR CANADIANS BUT FOR AMERICANS IS, YOUR ECONOMY IS REALLY STARTING TO TAKE OFF. FOR THE U.S. ECONOMY, HOMEBUILDING IS SO IMPORTANT. FOR MIDDLE-CLASS AMERICANS, BEING ABLE TO BUY A NEW HOUSE IS SO IMPORTANT. WHAT PEOPLE MAY NOT BE AWARE OF IS, LUMBER PRICES ARE VERY HIGH RIGHT NOW, WHICH TENDS TO UNDERMINE THE IDEA THAT THE MARKET IS BEING FLOODED WITH CHEAP, UNDERPRICED CANADIAN LUMBER. LUMBER PRICES ARE VERY HIGH IN THE UNITED STATES. THE AVERAGE PRICE OF A HOME ACCORDING TO THE HOME BUILDERS ASSOCIATION HAS GONE UP $3600 JUST THIS YEAR. I THINK SOLVING THE DISPUTE IS IN THE BEST INTEREST OF CANADA, BUT ALSO OF THE UNITED STATES, SO THOSE MIDDLE-CLASS AMERICANS, INCLUDING THE ONES WHO VOTED FOR THIS ADMINISTRATION, CAN AFFORD TO BUY A HOUSE. MATT: YOU SAID THE PRIME MINISTER AND PRESIDENT SPOKE LAST NIGHT. YOU SPOKE WITH THE PRESIDENT'S DAUGHTER YESTERDAY IN BERLIN. I KNOW THAT ANGELA MERKEL HAS SEEN IVANKA TRUMP AS A POSSIBLE CONDUIT INTO THE WHITE HOUSE. SOME WOULD SAY A BACK CHANNEL. I'M NOT SURE THAT IS THE RIGHT TERM. DO YOU FEEL YOU CAN HAVE THAT RELATIONSHIP AS WELL? >> I MENTIONED OUR TRADE ISSUES TO IVANKA. WE HAD A CONVERSATION. I'M THE FOREIGN MINISTER RESPONSIBLE FOR THE RELATIONSHIP AND THIS IS VERY HIGH AT THE TOP OF MY AGENDA, BUT IT IS NOT HER PARTICULAR AREA. WILBUR ROSS IS THE GUY IN CHARGE FOR THE U.S. I HAD A GOOD CONVERSATION WITH HIM ON SUNDAY, A GOOD CONVERSATION ON MONDAY. LINES OF COMMUNICATION ARE OPEN. MATT: HOW DO YOU THINK SHE CAN HELP YOU, THAT IVANKA TRUMP CAN HELP YOU INTO THE WHITE HOUSE? JUSTIN TRUDEAU HAS ALSO INVITED IVANKA TO CANADA TO PARTICIPATE IN SOME ISSUES. ALSO SEES HER AS POSSIBLY A CONDUIT. >> OUR MAIN CONVERSATION WITH IVANKA AND THE ISSUE SHE'S FOCUSED ON IN BERLIN AND WHAT I'VE BEEN WORKING WITH HER ON IS EMPOWERING WOMEN IN BUSINESS. WE SET UP ON OUR FIRST SUMMIT MEETING WITH THE WHITE HOUSE A CANADA-U.S. BUSINESS WOMEN'S COUNCIL. THAT COUNSEL IS REALLY STARTING TO DO SOME EXCITING WORK ABOUT PROMOTING WOMEN ENTREPRENEURS IN NORTH AMERICA AND AROUND THE WORLD. THAT IS REALLY ON CAUSE FOCUS, AS WELL AS -- REALLY IVANKA'S FOCUS, AS WELL AS CHILDCARE AND LEAVE. MATT: SO YOU ARE SPEAKING MAINLY WITH SECRETARY ROSS ABOUT THE TRADE ISSUES. I KNOW THAT RENEGOTIATING NAFTA HAS BEEN AN IMPORTANT ISSUE FOR THE TRUMP ADMINISTRATION. I HAVE A SCREEN ON THE BLOOMBERG. THIS SHOWS THE UNITED STATES TRADE RELATIONSHIPS WITH OTHER COUNTRIES. CANADA IS THE SECOND BIGGEST, HALF $1 TRILLION OF TRADE EVERY YEAR WITH THE U.S. CANADA BUYS MORE STUFF, TO PUT IT IN LAYMAN'S TERMS, FROM THE U.S., THAN ANY OTHER COUNTRY IN THE WORLD. DO YOU THINK THAT NAFTA NEEDS TO BE RENEGOTIATED? >> LET ME PAUSE ON THIS CHART FOR A MINUTE AND SAY, WELL DONE, BLOOMBERG. YOUR CHARTS ARE AMAZING. THIS IS A REALLY IMPORTANT CHART FOR ME. IT IS AN IMPORTANT CHART FOR AMERICANS TO UNDERSTAND. CANNOT AND THE UNITED STATES HAVE SUCH A SEAMLESS ECONOMIC RELATIONSHIP. SOMETIMES AMERICANS DON'T THINK ABOUT IT THAT MUCH. THE REALITY IS, WE ARE YOUR NUMBER ONE CLIENT. ALMOST DOUBLE CHINA. MATT: AND THIS IS ONLY GOODS, RIGHT? >> EXACTLY. THIS UNDERSTATES IT. SO I WOULD SAY TO MY AMERICAN FRIENDS, BE NICE TO YOUR CLIENTS. WE WORK HARD AT OUR RELATIONSHIP WITH YOU GUYS AND I THINK IT IS

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Canada’s Freeland Urges U.S. to ‘Be Nice to Your Clients’

Canada Minister of Foreign Affairs Chrystia Freeland discusses Canada-U.S. trade, the Trump administration and why the U.S. should “be nice.” She talks with Matt Miller on "Bloomberg Surveillance." (Source: Bloomberg)

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