[Harris:] We're going to try to time this out correctly here. We try this just about every day with the president. Sometimes we get it right, sometimes we don't. But the president is now just making opening remarks. He's just at this point saying hello and thank you to everyone who has gathered, but we're trying to get to the substance of the president's remarks here. His strategy, to create 2 million new American jobs and double overseas sales of goods made in the United States. We're going to try to time this out for you. We've got a couple of other stories in ahead of the president. Happening right now, a fourth congressional hearing on Toyota. A House committee is going after the National Highway Traffic Safety Administration for the way it handled safety recalls, but Director David Strickland defending the agency. He says, previous Toyota complaints did not stand out compared to other automakers. He says the agency investigated complaints about the Camry during the Bush administration but did not find a defect since. Since last fall, Toyota has recalled millions of cars to fix sticky accelerators. As you know, they have been linked to more than 50 deaths. Toyota's problems on the highway may lead to the courthouse and a flood of lawsuits. Let's talk to Sonny Hostin, a legal contributor for "In Session" on truTv. Sonny, great to see you, as always. Thanks for the time this morning ahead of your big program.
[Sonny Hostin, Legal Contributor, "in Session":] Thank you, Tony.
[Harris:] Hey, I want to get right to the class action suits here 89 class action suits in place now not over the safety problems, but over resale values. Maybe you can explain that to us.
[Hostin:] Sure. Well, it's really a little bit of both, Tony. I've read several of the complaints, and what they really are accusing Toyota of is concealing the information, concealing the information about the sudden acceleration problem, because they wanted to minimize the effects on future sales and leases and to minimize the recall's effects on their profits. What attorneys are arguing, Tony, is that basically the economic damage to consumers is that they can't resell their car for the same amount of money.
[Harris:] Got you.
[Hostin:] Sort of a hybrid argument.
[Harris:] I see. All right, maybe we need to parse it out a little bit, but maybe the way to go is 89 suits now, do you think this is going to be ultimately consolidated maybe into one big single class-action case?
[Hostin:] I think there's no question, Tony, that that is exactly what's going to happen. There's going to be a hearing March 25th, in San Diego, California. A judge is going to determine whether or not all those suits should be consolidated into one. And I don't think there's any question that the judge will determine a lead plaintiff and definitely decide that they should be one large class-action lawsuit.
[Harris:] So, Sonny, how do these, typically speaking, how do these class action lawsuits work for consumers? Do they work out pretty well for consumers?
[Hostin:] You know, I don't think so. I mean, they can work out in the sense that some public policy may come out of it. We saw that in the toxic tort litigation. But it typically is really a boon for the attorneys. Attorneys' fees really range in the millions and millions of dollars, whereas each consumer gets maybe $500, maybe $1,000. So the consumer, in terms of really getting an award, it just doesn't really pay for the consumer to be a part of it. I think we've all received those little things in the mail that says do you want to opt into this class action. Well, you don't really get that much money that way.
[Harris:] Yes. One more quick one before we circle back to the president here. Could Toyota and the owners of these vehicles start suing the company under state lemon laws?
[Hostin:] I think that that is really what we are going to see. I think that is where this should go. Consumers of course, state lemon laws are state specific, but in Georgia where you're seated, Tony, if a consumer sues Toyota under a lemon law, the manufacturer only gets one chance at fixing that car. And if the repair does not work, you get a full refund or a new car. That's a lot better recourse, in my view, than, you know, $500. So the bottom line is I think we're going to see a lot of Toyota people with lemons turning it into lemonade. No doubt.
[Harris:] I like that. Sonny, good to see you. See you next time. All right, President Obama wants to double exports over the next five years. The president we understand is speaking now. Let's take you to Washington, D.C. and have a listen to the president.
[Barack Obama, President Of The United States:] And we are rebuilding an economy where we generate more American jobs in more American industries by producing and exporting more goods and services to other nations. Now, in my State of the Union address I set a goal of doubling America's exports over the next five years an increase that will support 2 million American jobs. And I've come to the Export-Import Bank Conference today to discuss the initial steps that we're taking to achieve that goal. I know the issue of exports and imports, the issue of trade and globalization, have long evoked the passions of a lot of people in this country. I know there are differences of opinion between Democrats and Republicans, between business and labor, about the right approach. But I also know we are at a moment where it is absolutely necessary for us to get beyond those old debates. Those who would once support every free trade agreement now see that other countries have to play fair and the agreements have to be enforced. Otherwise we're putting America at a profound disadvantage. Those who once would once oppose any trade agreement now understand that there are new markets and new sectors out there that we need to break into if we want our workers to get ahead. And meanwhile, if you ask the average American what trade has offered them, they won't say that their televisions are cheaper, or productivity is higher. They'd say they've seen the plant across town shut down, jobs dry up, communities deteriorate. And you can't blame them for feeling that way. The fact is other countries haven't always played by the same set of rules. America hasn't always enforced our trade rights, or made sure that the benefits of trade are broadly shared. And we haven't always done enough to help our workers adapt to a changing world. Now, there's no question that as we compete in the global marketplace, we've got to look out for our workers. But to look out for our workers, we've got to be able to compete in the global marketplace. It's never been as important an opportunity for America as it is right now. In a time when millions of Americans are out of work, boosting our exports is a short-term imperative. Our exports support millions of American jobs. You know this well. In 2008, we exported more than $1 trillion of manufactured goods, supporting more than one in five manufacturing jobs and those jobs, by the way, pay about 15 percent more than average. We led the world in service exports, which support 2.8 million jobs. We exported nearly $100 billion in agricultural goods. And every $1 billion increase in exports supports more than 6,000 additional jobs. So it's critical in the short term, but it's also critical for our long-term prosperity. Ninety-five percent of the world's customers and the world's fastest-growing markets are outside our borders. We need to compete for those customers because other nations are competing for them. They're investing in the skills and education of their people. They're investing in the high-demand industries of the future. They've benefited from American consumers. They've made themselves into export-based economies, and positioned themselves for the jobs of the future. They're pursuing trade agreements with growing markets and those agreements would give their companies access to those markets and put our workers and businesses at a disadvantage. So if we stand on the sidelines while they go after those customers, we'll lose out on the chance to create the good jobs our workers need right here at home. That's why standing on the sidelines is not what we intend to do. We need to remind ourselves, we still have the most innovative economy in the world. We still have the most productive workers in the world. We have the finest universities in the world. We have the most dynamic and competitive markets in the world. We remain the number one exporter of goods and services in the world. So we've got a terrific foundation to build on. But we can't be satisfied with being number one right now. We shouldn't assume that our leadership is guaranteed. When other markets are growing, and other nations are competing, we've got to get even better. We need to secure our companies a level playing field. We need to guarantee American workers a fair shake. In other words, we need to up our game. And that's why, for the first time, the United States of America is launching a single, comprehensive strategy to promote American exports. It's called the National Export Initiative, and it's an ambitious effort to marshal the full resources of the United States government behind American businesses that sell their goods and services abroad. This morning, I signed an executive order instructing the federal government to use every available federal resource in support of that mission. That order has created an Export Promotion Cabinet, made up of the Secretaries of State, Treasury, Agriculture, Commerce, and Labor, along with our USTR, our Small Business Administrator, the Export-Import Bank President, and other senior U.S. officials whose work impacts exports. That cabinet will convene its first meeting next month. I've also re-launched the President's Export Council, the principal national advisory committee on international trade. And I named Jim McNerney, the President and CEO of Boeing, as its chair, with Ursula Burns, the CEO of Xerox, as vice chair, and I look forward to their recommendations.
[Harris:] All right, let's jump out of the president's remarks right now. You're hearing something even that you want to fact check. Look at you, you are all over this fact check thing. No, no it's good, it's good. All right, so Suzanne Simons is here, she runs our Fact Check Desk with a terrific team, terrific team. So here's a couple of questions for you. The world's biggest exporters right now. Who are they?
[Suzanne Simons, Cnn Producer:] Well, the president just said that the U.S. is the world's which kind of threw me for a second. Let me show you who the top countries are right now that we've got going. And keep in mind that these orders can change up or down from year to year, but the European Union has consistently along with China been right on the top of the list of the world's biggest exporters.
[Harris:] Twenty-seven, 28 different nations a part of the I know I'm close of the
[Eu. Simons:] I'm impressed. You pay attention. Germany is up there too and that might surprise a lot of people, or might not depending on how familiar you are with the auto industry and whatnot. The United States down at number four for a while, followed by Japan. But no matter how you stack these, these are the world's biggest exporters, these are the countries who
[Harris:] Yes, who are doing their business. Ships are going out with their stuff.
[Simons:] Yes.
[Harris:] What exactly is America exporting now?
[Simons:] I'm so glad you asked that question.
[Harris:] Capital goods.
[Simons:] That's things like airplanes, car parts, computers, telecommunications equipment, all that kind of stuff. Industrial supplies take about 28.6 percent. Things like chemicals, cleaning materials, all that kind of very sexy, exciting stuff. Consumer goods, 15 percent cars, medicine. And then agricultural products kind of help round that out, just under 10 percent. Soybeans, fruit, corn, that kind of thing. So we're still sending out that as well.
[Harris:] Well, yes, but there's still a lot of manufacturing in that as well.
[Simons:] Yes, a lot.
[Harris:] How many jobs tied to U.S. exports?
[Simons:] Jobs exports of manufactured goods support more than 6.8 million jobs as of 2008. So a lot of times we have to wait for the 2009 figures to come in, but we're looking at just under 7 million jobs tied to exports of manufactured goods. That's about one in 17 private sector jobs if you kind of flush it out.
[Harris:] So maybe the president was speaking aspirationally we're going to be number one soon.
[Simons:] I think politicians sometimes can do that, yes, but we're going to check.
[Harris:] I know you are. All right, Suzanne, good to see you. Thank you.
[Simons:] Thank you.
[Harris:] A bus ride gives them the chance at a better education. How budget cuts could put the brakes on that opportunity for some California students. We're back in a moment.