1 00:00:00,440 --> 00:00:05,159 Speaker 1: Live from our Nation's CAA. How do we reopen this economy? 2 00:00:05,240 --> 00:00:08,400 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,480 --> 00:00:11,480 Speaker 1: does this do for the United States relationship with China? 4 00:00:11,640 --> 00:00:16,560 Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're 5 00:00:16,600 --> 00:00:19,799 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:19,920 --> 00:00:23,440 Speaker 1: never before. You're looking at seventy Kennedys for different vaccines. 7 00:00:23,520 --> 00:00:26,239 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,280 --> 00:00:30,440 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin's 9 00:00:30,600 --> 00:00:34,520 Speaker 1: related on Bloomberg one and one oh five point seven 10 00:00:34,640 --> 00:00:37,680 Speaker 1: f m h D two, Jim packed Our gretiv An 11 00:00:37,760 --> 00:00:41,559 Speaker 1: Sustrian's gonna kick things off following her exclusive interview at 12 00:00:41,560 --> 00:00:44,400 Speaker 1: the President of the United States. What did President Trump 13 00:00:44,440 --> 00:00:47,120 Speaker 1: have to say about the virus? Reopening the economy and 14 00:00:47,159 --> 00:00:51,160 Speaker 1: the conventions? Are they headed for a smaller scale? Plus 15 00:00:51,320 --> 00:00:55,000 Speaker 1: the latest from Secretary of Help Alex Asar my exclusive 16 00:00:55,040 --> 00:00:58,200 Speaker 1: interview and Lester Munson will join us as well as 17 00:00:58,280 --> 00:01:02,640 Speaker 1: we talk about for policy and a reset of US 18 00:01:02,920 --> 00:01:06,160 Speaker 1: China relations. We have a lot to get through. All 19 00:01:06,240 --> 00:01:10,560 Speaker 1: of that coming. Plus another one of my interviews UH 20 00:01:10,959 --> 00:01:14,679 Speaker 1: with Javita Kranza. She's the s b A administrator, first 21 00:01:14,720 --> 00:01:17,240 Speaker 1: time ever on Bloomberg TV and Radio in her new position. 22 00:01:17,480 --> 00:01:20,399 Speaker 1: All right, let's kick things off with the one and only, 23 00:01:20,480 --> 00:01:23,840 Speaker 1: my good great friend, Greta van Sustern. Greta, you had 24 00:01:23,920 --> 00:01:26,480 Speaker 1: the Interview of the Day yesterday, you one the day 25 00:01:26,600 --> 00:01:29,639 Speaker 1: you got the exclusive and President Trump and you made news. 26 00:01:30,080 --> 00:01:33,720 Speaker 1: What'd you find out? Well? I found a number of things, surprisingly. 27 00:01:33,720 --> 00:01:35,600 Speaker 1: I mean, like, you know, haven't you've been around the block. 28 00:01:35,600 --> 00:01:36,840 Speaker 1: You want to know how this is. Some days you 29 00:01:36,880 --> 00:01:38,640 Speaker 1: have you have couldn't infuse. Sometimes you don't. You only 30 00:01:38,680 --> 00:01:40,720 Speaker 1: get about ten or twelve minutes. So it's like, you know, 31 00:01:40,800 --> 00:01:43,080 Speaker 1: this is one of these days where I just got lucky. Um. 32 00:01:43,200 --> 00:01:45,839 Speaker 1: He talked about possibly moving the convention. This was after 33 00:01:45,880 --> 00:01:48,400 Speaker 1: had been moved from North Carolina or Florida, and that's 34 00:01:48,400 --> 00:01:50,520 Speaker 1: the first time he showed some sort of things thinking 35 00:01:50,600 --> 00:01:52,360 Speaker 1: that maybe have to move it because he wants a 36 00:01:52,440 --> 00:01:55,680 Speaker 1: joint convention. I asked him how you reconcile the fact 37 00:01:55,760 --> 00:01:57,760 Speaker 1: he's very proud of the fact, and I used to 38 00:01:57,800 --> 00:02:01,040 Speaker 1: word proud. That's where I set. The mortality rate has 39 00:02:01,120 --> 00:02:04,000 Speaker 1: gone down in COVID nineteen, which is in UM in 40 00:02:04,400 --> 00:02:07,680 Speaker 1: the United States, which is that's what the recent numbers are. UM. 41 00:02:07,800 --> 00:02:09,840 Speaker 1: But then you've got Dr Fauci saying that we are 42 00:02:09,919 --> 00:02:12,360 Speaker 1: a deep, deep, deep trouble. So I asked him how 43 00:02:12,400 --> 00:02:14,480 Speaker 1: he reconciled that. So he spoke a little bit about that. 44 00:02:14,960 --> 00:02:19,280 Speaker 1: My always my favorite issue because it's I'm fascinated with that. 45 00:02:19,320 --> 00:02:21,959 Speaker 1: I've been in North Korea three times. UM. He said 46 00:02:22,000 --> 00:02:24,320 Speaker 1: that he was he was open to another summit with 47 00:02:24,480 --> 00:02:27,680 Speaker 1: Kim Jong on. Now that is actually big North Korea. 48 00:02:27,720 --> 00:02:29,560 Speaker 1: As you know, I said, no, we don't want one. 49 00:02:30,080 --> 00:02:32,440 Speaker 1: President Trump says that North Korea is asking for one. 50 00:02:32,520 --> 00:02:35,640 Speaker 1: But you know, while we are consumed with COVID nineteen, 51 00:02:35,760 --> 00:02:38,720 Speaker 1: as we should be, as we're consumably because it's very serious. 52 00:02:38,760 --> 00:02:41,840 Speaker 1: People are dying in this country. UM, Kim Jong has 53 00:02:41,880 --> 00:02:44,359 Speaker 1: been is doing what his father did before him and 54 00:02:44,440 --> 00:02:46,840 Speaker 1: his grandfather, and that's work on a weapons program. And 55 00:02:46,919 --> 00:02:48,919 Speaker 1: so we've got our in the media. I think we 56 00:02:49,000 --> 00:02:50,760 Speaker 1: have our eye a little bit off the ball because 57 00:02:51,040 --> 00:02:54,720 Speaker 1: their nuclear weapons program and delivery system is moving forward. 58 00:02:55,000 --> 00:02:57,600 Speaker 1: So I asked him a little bit about that. But 59 00:02:57,720 --> 00:03:00,760 Speaker 1: that's not a Trump problem, that's every president problem. It's 60 00:03:00,800 --> 00:03:03,400 Speaker 1: really remarkable. I mean and you just laid the outline there. 61 00:03:03,440 --> 00:03:05,600 Speaker 1: I want to unpack on COVID just for a little 62 00:03:05,600 --> 00:03:08,880 Speaker 1: bit more because what President Trump said and what Dr 63 00:03:09,040 --> 00:03:12,800 Speaker 1: Fauci is saying, I'm noticing some space between them. Greta, 64 00:03:12,840 --> 00:03:16,520 Speaker 1: what do you make of this? Um? You know, look, 65 00:03:16,760 --> 00:03:19,120 Speaker 1: this is a problem with COVID nineteen UM is that 66 00:03:19,240 --> 00:03:24,080 Speaker 1: there's so much uncertainty. And I think Dr Fauci would 67 00:03:24,080 --> 00:03:25,520 Speaker 1: tell you if you were here, is that his job 68 00:03:25,639 --> 00:03:28,200 Speaker 1: is completely with the health of the United States, you know, 69 00:03:28,320 --> 00:03:31,200 Speaker 1: the healthy American people, which indeed is the President's got 70 00:03:31,280 --> 00:03:33,000 Speaker 1: sort of a dual role. He's got the health of 71 00:03:33,000 --> 00:03:35,600 Speaker 1: the American people, of course he does, but he also 72 00:03:35,720 --> 00:03:38,280 Speaker 1: has to worry about the economy of the American people 73 00:03:38,320 --> 00:03:40,280 Speaker 1: because if we don't have jobs, we can't feed the 74 00:03:40,320 --> 00:03:43,080 Speaker 1: American people. So they have a little bit different roles 75 00:03:43,160 --> 00:03:45,880 Speaker 1: and different perspectives in this. And bottom line is that 76 00:03:46,080 --> 00:03:48,280 Speaker 1: none of us knows what to make of the COVID 77 00:03:48,680 --> 00:03:50,720 Speaker 1: of of coronavirus. I mean, you even look at some 78 00:03:50,840 --> 00:03:53,520 Speaker 1: people get red toes, some people get no symptoms, some 79 00:03:53,680 --> 00:03:57,040 Speaker 1: people get life threatening lung issues, some people die from it, 80 00:03:57,160 --> 00:04:00,160 Speaker 1: some people have strokes. There's so much it's unknown that, 81 00:04:00,280 --> 00:04:02,080 Speaker 1: you know, as I think we're all serving the state 82 00:04:02,120 --> 00:04:04,760 Speaker 1: of confusion. And you know, I wish I had a 83 00:04:04,840 --> 00:04:07,240 Speaker 1: magic wand to get rid of it, as you do, Kevin, 84 00:04:07,480 --> 00:04:10,840 Speaker 1: But I don't, you know, I would expect between everybody 85 00:04:11,000 --> 00:04:13,640 Speaker 1: there is some space and confusion as to what to 86 00:04:13,720 --> 00:04:17,680 Speaker 1: do on the line. She interviewed President Trump yesterday on 87 00:04:17,760 --> 00:04:19,840 Speaker 1: a wide variety of topics. What did he have to 88 00:04:19,880 --> 00:04:23,400 Speaker 1: say about China? He doesn't like China. But I can 89 00:04:23,440 --> 00:04:25,320 Speaker 1: tell you that going back to I've interviewed President Trump 90 00:04:25,400 --> 00:04:27,680 Speaker 1: going back to what he was, you know, Mr businessman 91 00:04:27,800 --> 00:04:30,640 Speaker 1: Donald Trump, back and beginning about two thousands, he has 92 00:04:30,680 --> 00:04:32,640 Speaker 1: always said, quote, China is ripping us off, and we 93 00:04:32,720 --> 00:04:34,280 Speaker 1: just always sort of make sort of a joke about 94 00:04:34,279 --> 00:04:36,040 Speaker 1: I should probably shouldn't say this, but almost like I 95 00:04:36,080 --> 00:04:37,960 Speaker 1: have a drinking game. Because you'd be talking to him 96 00:04:37,960 --> 00:04:40,360 Speaker 1: about one topic, I could be talking about France and 97 00:04:40,360 --> 00:04:42,560 Speaker 1: all of them. He would inject, you know, interject him 98 00:04:42,560 --> 00:04:44,920 Speaker 1: to the conversation. And China's ripping us off. I mean 99 00:04:45,000 --> 00:04:48,680 Speaker 1: he's always, always, always been on China and um, and 100 00:04:48,800 --> 00:04:50,640 Speaker 1: so he's not happy to China is talking about whether 101 00:04:50,720 --> 00:04:53,200 Speaker 1: or not he will shut whether you will be at 102 00:04:53,240 --> 00:04:55,719 Speaker 1: TikTok here in this country, and Secretary of State Pompeo 103 00:04:55,800 --> 00:04:58,800 Speaker 1: said that earlier. But President Trump obviously is lost, said 104 00:04:58,800 --> 00:05:01,400 Speaker 1: it to me in an interview. And that's important because TikTok, 105 00:05:01,440 --> 00:05:03,800 Speaker 1: according to President Trump and according to a lot of people, 106 00:05:04,120 --> 00:05:07,680 Speaker 1: is collecting data from the users and and providing it 107 00:05:07,839 --> 00:05:10,760 Speaker 1: to the communist Chinese government. So he may he may 108 00:05:10,839 --> 00:05:12,880 Speaker 1: ban that, but he is not a fan of China, 109 00:05:13,200 --> 00:05:16,000 Speaker 1: never has been, obviously underlying all that we have a 110 00:05:16,120 --> 00:05:19,600 Speaker 1: trade war or trade you know, so if diplomacy we're 111 00:05:19,640 --> 00:05:22,560 Speaker 1: always so easy, it is not so, you know, take 112 00:05:22,600 --> 00:05:24,640 Speaker 1: a step back, and this is something that that you 113 00:05:24,800 --> 00:05:27,040 Speaker 1: do so incredibly well. I would argue, one of the 114 00:05:27,080 --> 00:05:29,360 Speaker 1: best in the business. Take a step back and give 115 00:05:29,440 --> 00:05:31,440 Speaker 1: us a behind the scenes look. How how is the 116 00:05:31,480 --> 00:05:34,400 Speaker 1: president's mood yesterday? And not in the sense of the 117 00:05:34,480 --> 00:05:37,120 Speaker 1: polls or whatnot, but is this a president who is 118 00:05:37,240 --> 00:05:41,320 Speaker 1: looking to really break through and get back on offense? 119 00:05:41,480 --> 00:05:43,480 Speaker 1: Is this the president who appeared tired? I mean, what 120 00:05:43,560 --> 00:05:45,960 Speaker 1: did you make and what was your takeaway from that 121 00:05:46,120 --> 00:05:49,839 Speaker 1: vantage point during your interview and after well, he certainly 122 00:05:49,880 --> 00:05:51,760 Speaker 1: didn't look tired. And I remember he was on his 123 00:05:51,880 --> 00:05:54,160 Speaker 1: home turf. It's like, you know, when when of the 124 00:05:54,240 --> 00:05:57,160 Speaker 1: Chicago Bears come into lambeau Field. You know, we're pretty strong. 125 00:05:57,279 --> 00:05:59,279 Speaker 1: You know, we tack not as strong as the Eagles 126 00:05:59,320 --> 00:06:02,400 Speaker 1: at the length. Go ahead. Yeah, I loved it when 127 00:06:02,400 --> 00:06:06,600 Speaker 1: we got Reggie White from the Eagles by stick with 128 00:06:06,720 --> 00:06:11,120 Speaker 1: the exclusive stick with the exclusive grata. So he was 129 00:06:11,160 --> 00:06:13,719 Speaker 1: certainly strong. I mean, look, every time you interview the president, 130 00:06:13,839 --> 00:06:15,600 Speaker 1: this one or anyone before it others, you tend to 131 00:06:15,600 --> 00:06:17,279 Speaker 1: get a little sound bite. I mean, when I asked 132 00:06:17,279 --> 00:06:19,680 Speaker 1: about the economy, I got a very predictable response about it. 133 00:06:19,800 --> 00:06:22,760 Speaker 1: I was interested in small businesses and their survival because 134 00:06:22,760 --> 00:06:24,440 Speaker 1: a lot of these balls are going under in these 135 00:06:24,480 --> 00:06:27,240 Speaker 1: brick and bortar. And he was quick to point out that, um, 136 00:06:27,400 --> 00:06:29,760 Speaker 1: the stock market was doing well when not everybody's in 137 00:06:29,800 --> 00:06:31,480 Speaker 1: the stock marketing. Now. It's great for people in the 138 00:06:31,520 --> 00:06:34,040 Speaker 1: stock market, but not for everybody else. So he, you know, 139 00:06:34,120 --> 00:06:35,520 Speaker 1: he dadged me on that, and I wanted to go 140 00:06:35,680 --> 00:06:37,400 Speaker 1: deeper on it. But the problem is I only had 141 00:06:37,520 --> 00:06:39,760 Speaker 1: ten minutes, so I didn't go deeper on it. Um, 142 00:06:39,839 --> 00:06:43,200 Speaker 1: But he was certainly, you know, he was certainly feeling confident. Um, 143 00:06:43,560 --> 00:06:45,800 Speaker 1: you know, it's uh this is. This is not a 144 00:06:45,839 --> 00:06:48,320 Speaker 1: man who has never shown that he's not certain. I 145 00:06:48,400 --> 00:06:51,320 Speaker 1: don't I don't think I've ever seen him look uncertain 146 00:06:51,360 --> 00:06:53,159 Speaker 1: whether he's right or not. It's a whole another issue. 147 00:06:53,200 --> 00:06:56,080 Speaker 1: But he's a man who always exudes service sense of confidence. 148 00:06:56,240 --> 00:06:58,480 Speaker 1: Um you know, so I don't you know. But this 149 00:06:58,640 --> 00:07:00,400 Speaker 1: was his whole turf. He was not at my house. 150 00:07:00,480 --> 00:07:05,400 Speaker 1: I was at his people's house. But the people's well, 151 00:07:05,480 --> 00:07:07,480 Speaker 1: great job and if people want to watch it, I 152 00:07:07,640 --> 00:07:09,920 Speaker 1: I tweeted it out earlier this morning, and of course 153 00:07:09,960 --> 00:07:13,280 Speaker 1: it's on great television affiliates all over the country. Greta fan, 154 00:07:13,400 --> 00:07:16,000 Speaker 1: sasher and of course breaking so much news in that, 155 00:07:16,120 --> 00:07:19,360 Speaker 1: teaching us all how it's done. Greta, amazing, amazing work. 156 00:07:19,400 --> 00:07:21,760 Speaker 1: Thank you for joining me, thank you for having me. 157 00:07:22,080 --> 00:07:24,120 Speaker 1: Thank you. N Next time we'll play our game. We 158 00:07:24,160 --> 00:07:27,600 Speaker 1: played this game called the Quarantine Game. I actually wrote 159 00:07:27,600 --> 00:07:30,520 Speaker 1: out a bunch of questions. I got a bunch of questions. Okay, well, 160 00:07:30,680 --> 00:07:32,880 Speaker 1: well we'll catch up about that later and next time 161 00:07:32,960 --> 00:07:35,520 Speaker 1: you're on maybe, well maybe we'll give folks a little 162 00:07:35,600 --> 00:07:38,520 Speaker 1: hint of what the Quarantine game is. It's fun. I 163 00:07:38,720 --> 00:07:41,000 Speaker 1: was at McDonald's over the weekend, and I called Greta. 164 00:07:41,080 --> 00:07:43,160 Speaker 1: Here I am meeting my French fries and I called 165 00:07:43,200 --> 00:07:45,920 Speaker 1: Greta with our other mutual friend and I said, we 166 00:07:46,080 --> 00:07:47,920 Speaker 1: we got to play the quarantine game. And She's like, 167 00:07:48,040 --> 00:07:51,000 Speaker 1: where are it's it's questions like if you could only 168 00:07:51,080 --> 00:07:54,560 Speaker 1: eat one food in quarantine, what would it be? Historical figures? Anyway, 169 00:07:54,880 --> 00:07:57,560 Speaker 1: I'm gonna pivot now, but I've got fifty questions that 170 00:07:57,640 --> 00:07:59,440 Speaker 1: I actually wrote on my iPad. I'm ready to go. 171 00:07:59,600 --> 00:08:01,760 Speaker 1: So good, all right, I'll call you later, Granta, Thank you, 172 00:08:02,000 --> 00:08:04,440 Speaker 1: thank you. All right, Now, let's pay it up. Kevin's 173 00:08:04,480 --> 00:08:08,040 Speaker 1: really chief Washington correspondent for Bloomberg Television and for Bloomberg Radio. 174 00:08:08,560 --> 00:08:12,840 Speaker 1: Yesterday I spoke with Secretary of Health Alex asar about 175 00:08:12,880 --> 00:08:19,200 Speaker 1: a wide variety of topics, including, uh, really about whether 176 00:08:19,320 --> 00:08:20,800 Speaker 1: or not we're going to get a vaccine. So let's 177 00:08:20,840 --> 00:08:23,480 Speaker 1: just roll tape on the interview. Here is Secretary of 178 00:08:23,560 --> 00:08:26,440 Speaker 1: Health Alex Haser, and I want to ask you about 179 00:08:26,600 --> 00:08:30,200 Speaker 1: this executive order that Chief of Staff Mark Meadows talked 180 00:08:30,200 --> 00:08:33,079 Speaker 1: about in terms of prescription jug pricing. Can you give 181 00:08:33,120 --> 00:08:36,040 Speaker 1: us any details? Well, I make it a business to 182 00:08:36,280 --> 00:08:40,880 Speaker 1: not preempt the president or so Uh, I'm gonna I'm 183 00:08:40,920 --> 00:08:44,719 Speaker 1: gonna leave any actual announcements to them, but suffice it 184 00:08:44,840 --> 00:08:47,559 Speaker 1: to say the President has been deeply committed to getting 185 00:08:47,559 --> 00:08:52,160 Speaker 1: prescription drug prices down. We've approved historic levels of generic drugs, 186 00:08:52,360 --> 00:08:57,040 Speaker 1: drugs um. We've seen prescription drug inflation flatten from where 187 00:08:57,040 --> 00:08:59,800 Speaker 1: it had been before he before he took off as 188 00:08:59,840 --> 00:09:02,400 Speaker 1: an before he laid out the blueprint, where it was 189 00:09:02,480 --> 00:09:05,640 Speaker 1: I think about five percent on average inflation to now 190 00:09:05,760 --> 00:09:10,360 Speaker 1: we're basically flat zero percent inflation. But he remains committed 191 00:09:10,840 --> 00:09:14,439 Speaker 1: to leveling the playing field internationally and stopped for in 192 00:09:14,640 --> 00:09:17,800 Speaker 1: free riding where they don't where other countries don't pay 193 00:09:18,000 --> 00:09:20,640 Speaker 1: enough for their drugs and we pay too much up 194 00:09:20,760 --> 00:09:24,800 Speaker 1: to ensure that we decrease what people, especially our senior citizens, 195 00:09:24,880 --> 00:09:27,800 Speaker 1: pay out of pocket for their drugs. And he's deeply 196 00:09:27,920 --> 00:09:30,640 Speaker 1: committed to the concept that people should have the freedom 197 00:09:31,040 --> 00:09:34,160 Speaker 1: to get their drugs import them from abroad if they 198 00:09:34,240 --> 00:09:37,120 Speaker 1: can get them in a safe, effective way that reduces 199 00:09:37,160 --> 00:09:39,199 Speaker 1: their cost. Well, that's what I want to follow up on, 200 00:09:39,360 --> 00:09:43,119 Speaker 1: because we he There's also been some reports about potentially 201 00:09:43,200 --> 00:09:46,800 Speaker 1: more executive orders as it relates to UH manufacturing, and 202 00:09:46,800 --> 00:09:50,319 Speaker 1: I've been having conversations with administration officials on the economy 203 00:09:50,400 --> 00:09:54,120 Speaker 1: as well as protecting the domestic and international supply chain. 204 00:09:54,240 --> 00:09:58,120 Speaker 1: And that includes, as you're alluding to, Mr Secretary, that 205 00:09:58,240 --> 00:10:03,000 Speaker 1: includes UH prescription drugs. So how how does that what 206 00:10:03,360 --> 00:10:05,640 Speaker 1: needs to be done in between the public and the 207 00:10:05,679 --> 00:10:09,560 Speaker 1: private sector in order to protect people's medicines, especially if 208 00:10:09,600 --> 00:10:13,640 Speaker 1: they are parts of it is made internationally like in China. Yes, 209 00:10:13,760 --> 00:10:17,000 Speaker 1: so I think that the coronavirus pandemic has brought home 210 00:10:17,440 --> 00:10:20,719 Speaker 1: that core elements of our medical supply chain are just 211 00:10:20,960 --> 00:10:25,640 Speaker 1: as strategic to our national security as say nuclear submarines 212 00:10:25,760 --> 00:10:28,959 Speaker 1: or aircraft carriers are, and have to be treated with 213 00:10:29,320 --> 00:10:32,079 Speaker 1: that same kind of approach, which is to make sure 214 00:10:32,200 --> 00:10:36,559 Speaker 1: we have core domestic manufacturing capabilities. Now that means paying 215 00:10:36,640 --> 00:10:39,880 Speaker 1: for that. That does mean that right now we've seen 216 00:10:39,960 --> 00:10:44,360 Speaker 1: the supply chain go to low cost areas in the 217 00:10:44,480 --> 00:10:48,480 Speaker 1: world um as well as areas that have protectionist trade 218 00:10:48,559 --> 00:10:52,679 Speaker 1: policies that lead to lower prices of goods. UM. So 219 00:10:52,800 --> 00:10:56,240 Speaker 1: it might mean that we have to use our powers 220 00:10:56,320 --> 00:10:59,800 Speaker 1: under the Defense Production Act or otherwise to fund and 221 00:11:00,120 --> 00:11:06,559 Speaker 1: sentivized domestic manufacturing to ensure purchasing here of domestic manufactured product, 222 00:11:06,920 --> 00:11:12,080 Speaker 1: so that we essentially um support and defend a local, 223 00:11:12,360 --> 00:11:17,800 Speaker 1: domestically based strategic focus around pharmaceuticals as well as personal 224 00:11:17,880 --> 00:11:20,920 Speaker 1: protective equipment. Can I can I ask you one more question? 225 00:11:21,080 --> 00:11:24,319 Speaker 1: Do you have a timetable on that executive order? I 226 00:11:24,400 --> 00:11:26,080 Speaker 1: just I want to know if if we're gonna get 227 00:11:26,080 --> 00:11:27,719 Speaker 1: it a couple of weeks, a couple of days in 228 00:11:27,920 --> 00:11:31,280 Speaker 1: terms of big pharma. Well, I don't have a timetable 229 00:11:31,280 --> 00:11:33,120 Speaker 1: before you. Again, I'll leave that to the President to 230 00:11:33,200 --> 00:11:36,120 Speaker 1: make a decision on when he when and whether he's 231 00:11:36,160 --> 00:11:38,480 Speaker 1: going to do anything by executive orders, all right, and 232 00:11:38,559 --> 00:11:41,839 Speaker 1: just and and just more broadly, so many questions that 233 00:11:41,960 --> 00:11:44,760 Speaker 1: I get from folks outside of the industry, outside of 234 00:11:44,800 --> 00:11:47,440 Speaker 1: Washington is they want to know about vaccine development. They 235 00:11:47,480 --> 00:11:49,320 Speaker 1: want to know that when there is a vaccine, when 236 00:11:49,360 --> 00:11:52,840 Speaker 1: there is an effective treatment and vaccine, that that everyone's 237 00:11:52,880 --> 00:11:54,480 Speaker 1: going to be able to get it when they want. 238 00:11:54,760 --> 00:11:57,600 Speaker 1: Can you give us an inside account as to how 239 00:11:57,840 --> 00:12:00,600 Speaker 1: the vaccination process and what the government doing to make 240 00:12:00,640 --> 00:12:03,880 Speaker 1: sure that people can get that vaccine once it is 241 00:12:04,000 --> 00:12:06,599 Speaker 1: in the market. Yeah. So the first thing we have 242 00:12:06,720 --> 00:12:09,719 Speaker 1: to do is get vaccine and get vaccine manufactured and 243 00:12:09,880 --> 00:12:13,000 Speaker 1: ensure that it's a safe and effective vaccine according to 244 00:12:13,120 --> 00:12:17,079 Speaker 1: the FDA's gold standard regular story approval processes. So we 245 00:12:17,240 --> 00:12:21,560 Speaker 1: just had an important announcement today where we are investing 246 00:12:21,600 --> 00:12:25,640 Speaker 1: in a fourth, fourth vaccine candidate. This is Nova vacts 247 00:12:25,760 --> 00:12:30,520 Speaker 1: protein based vaccine one point six billion dollars for advanced 248 00:12:30,679 --> 00:12:33,760 Speaker 1: R and D as well as advanced manufacturing to secure 249 00:12:34,240 --> 00:12:37,679 Speaker 1: one million doses of the vaccine. So what are we 250 00:12:37,800 --> 00:12:41,920 Speaker 1: doing with whether it's our relationship with Maderna, or the 251 00:12:42,080 --> 00:12:45,839 Speaker 1: Astrosenica vaccine, or the Jansen J and J vaccine or 252 00:12:45,920 --> 00:12:50,000 Speaker 1: now Nova vacs um. We are funding the R and 253 00:12:50,080 --> 00:12:54,000 Speaker 1: D to make sure that we compress the timelines, any 254 00:12:54,160 --> 00:12:59,120 Speaker 1: inefficiency in the development timelines, not sacrificing standards, but just 255 00:12:59,400 --> 00:13:04,560 Speaker 1: ensuring we're avoiding any types of unnecessary delay on development. 256 00:13:05,000 --> 00:13:08,679 Speaker 1: Uh So that taking the pharma timelines that normally you 257 00:13:08,720 --> 00:13:11,880 Speaker 1: would get say phase one data, you come, you sit down, 258 00:13:11,960 --> 00:13:14,000 Speaker 1: you study it, you spend time, then you design a 259 00:13:14,040 --> 00:13:17,800 Speaker 1: phase two or phase three trial um and instead compressing that, 260 00:13:17,960 --> 00:13:21,080 Speaker 1: have that predesigned, have that so you can go right away, 261 00:13:21,559 --> 00:13:25,640 Speaker 1: and then on manufacturing, make the investment to scale up 262 00:13:25,720 --> 00:13:29,920 Speaker 1: commercial manufacturing to deliver hundreds and millions of doses, even 263 00:13:30,040 --> 00:13:32,599 Speaker 1: as you're doing the development trials to make to to 264 00:13:32,800 --> 00:13:36,160 Speaker 1: to prove that the vaccine would be safe and effective. Um, 265 00:13:36,480 --> 00:13:40,160 Speaker 1: So what we're also doing is the distribution work is 266 00:13:40,200 --> 00:13:43,560 Speaker 1: of course, as you mentioned, critical, So we are working 267 00:13:43,679 --> 00:13:48,079 Speaker 1: internally and we will engage external stakeholders in a process 268 00:13:48,720 --> 00:13:52,120 Speaker 1: to advise on as we get more limited supplies of 269 00:13:52,280 --> 00:13:54,960 Speaker 1: vaccine out. So in the fall, as we get say, 270 00:13:55,040 --> 00:13:57,800 Speaker 1: tens of millions of vaccine and scale up to the 271 00:13:58,120 --> 00:14:01,880 Speaker 1: hundreds of millions of doses oft seen in early next year, 272 00:14:02,720 --> 00:14:05,920 Speaker 1: who were the first groups that ought to be vaccinated? 273 00:14:06,400 --> 00:14:08,280 Speaker 1: That will be an ethical process. It will be a 274 00:14:08,360 --> 00:14:12,400 Speaker 1: public process where we gather input to help make those determinations. 275 00:14:13,160 --> 00:14:15,439 Speaker 1: And that right there is where this story has headed. 276 00:14:15,520 --> 00:14:19,480 Speaker 1: Regardless of who wins in November on November three, there 277 00:14:19,520 --> 00:14:23,200 Speaker 1: will likely be a vaccine in the market by the 278 00:14:23,360 --> 00:14:25,680 Speaker 1: end of the year and in the first quarter of 279 00:14:25,800 --> 00:14:29,720 Speaker 1: next year, ramping up hundreds of millions of different vaccinations 280 00:14:29,760 --> 00:14:31,760 Speaker 1: has it is going to be fascinating, all right. Switching 281 00:14:31,800 --> 00:14:34,120 Speaker 1: gears now and Kevin's really chief Washington Corpsponti from Bomber 282 00:14:34,160 --> 00:14:36,760 Speaker 1: TV and Radio. I want to go over to Hong Kong. 283 00:14:37,040 --> 00:14:39,600 Speaker 1: I spoke with Senator Chris Van Holland and Democrat from 284 00:14:39,600 --> 00:14:43,800 Speaker 1: Maryland earlier today about the Hong Kong Autonomy bill that 285 00:14:43,960 --> 00:14:46,520 Speaker 1: was passed in the House and the Senate recently. Take 286 00:14:46,520 --> 00:14:48,200 Speaker 1: a listen to what he said about when President Trump 287 00:14:48,240 --> 00:14:51,240 Speaker 1: could sign it. I hope the President signs it just 288 00:14:51,440 --> 00:14:54,320 Speaker 1: as soon as possible. You should have signed it the 289 00:14:54,440 --> 00:14:57,960 Speaker 1: day it arrived on his desk on my understanding that 290 00:14:58,080 --> 00:15:02,280 Speaker 1: he now has until early next week UH to sign it. UH. 291 00:15:02,560 --> 00:15:07,120 Speaker 1: Senator to me who was my co sponsor on this legislation, 292 00:15:07,200 --> 00:15:11,000 Speaker 1: and I had been urging them to put the presidents 293 00:15:11,000 --> 00:15:13,040 Speaker 1: signature on there as soon as possible so that we 294 00:15:13,080 --> 00:15:16,240 Speaker 1: can send the strong signal to Hong Kong that we're 295 00:15:16,280 --> 00:15:19,960 Speaker 1: going to stand up and support those who are demonstrating 296 00:15:20,080 --> 00:15:24,560 Speaker 1: for democracy and their human rights. And from a financial perspective, 297 00:15:24,680 --> 00:15:29,440 Speaker 1: what specifically would this do for businesses, especially US businesses 298 00:15:29,480 --> 00:15:32,680 Speaker 1: who might have some business dealings in Hong Kong and 299 00:15:32,720 --> 00:15:36,600 Speaker 1: who had largely seen that as a democratic h safe 300 00:15:36,640 --> 00:15:40,320 Speaker 1: haven so to speak, in terms of democrats sharing democratic values. Well, 301 00:15:40,400 --> 00:15:44,400 Speaker 1: this is designed to target officials in the government of 302 00:15:44,520 --> 00:15:50,800 Speaker 1: China or others who were collaborating in undermining democracy in 303 00:15:51,000 --> 00:15:55,360 Speaker 1: Hong Kong, specifically, UH those who are complicited in violating 304 00:15:55,560 --> 00:16:00,120 Speaker 1: China's obligations under the Basic Law and other agreements so 305 00:16:00,320 --> 00:16:04,600 Speaker 1: that they've reached. It would also then UH sanction any 306 00:16:04,760 --> 00:16:09,840 Speaker 1: banks who do business with those individuals. The idea being 307 00:16:09,960 --> 00:16:13,600 Speaker 1: that for those individuals who are complicit, we want to 308 00:16:14,120 --> 00:16:18,920 Speaker 1: cut off their financial lifelines. And so this is a 309 00:16:19,120 --> 00:16:23,400 Speaker 1: very important signal we believe in action, and I hope 310 00:16:23,400 --> 00:16:26,040 Speaker 1: the President signs it right away. Senator. One of the 311 00:16:26,120 --> 00:16:29,880 Speaker 1: conversations that's being had openly within the administration as well 312 00:16:30,000 --> 00:16:33,080 Speaker 1: as amongst some thought leaders here inside of the Beltway 313 00:16:33,480 --> 00:16:36,400 Speaker 1: is about whether or not there are other financial avenues 314 00:16:36,440 --> 00:16:39,080 Speaker 1: that the U. S could explore in relation to Hong Kong, 315 00:16:39,480 --> 00:16:42,600 Speaker 1: particularly with Hong Kong's dollar peg. Is that something that 316 00:16:42,680 --> 00:16:45,240 Speaker 1: the United States should explore? Well, I think it should 317 00:16:45,240 --> 00:16:49,960 Speaker 1: be explored, But I worry about taking actions that hurt 318 00:16:50,680 --> 00:16:56,720 Speaker 1: those in Hong Kong who are epicating for freedom and democracy. 319 00:16:56,960 --> 00:17:00,280 Speaker 1: You know, we need to be careful UH out to 320 00:17:00,400 --> 00:17:06,000 Speaker 1: use a shotgun and do damage to those who have 321 00:17:06,200 --> 00:17:10,680 Speaker 1: been advocating for more economy and certainly for freedom of expression. 322 00:17:11,280 --> 00:17:14,680 Speaker 1: UM in Hong Kong. So I would prefer to take 323 00:17:14,760 --> 00:17:16,960 Speaker 1: the kind of actions that the Center to me and 324 00:17:17,000 --> 00:17:20,160 Speaker 1: I am the Senate of my House, have proposed here, 325 00:17:20,320 --> 00:17:24,639 Speaker 1: which are very tough, hard hitting sanctions against those who 326 00:17:24,720 --> 00:17:30,280 Speaker 1: are responsible for denying you know, democratic rights and human 327 00:17:30,400 --> 00:17:34,120 Speaker 1: rights in Hong Kong. I'm open to considering other ideas, 328 00:17:34,280 --> 00:17:37,840 Speaker 1: but I want to make sure that we're hitting those 329 00:17:38,480 --> 00:17:42,399 Speaker 1: who are complicit UH in these bad decisions, and just 330 00:17:42,560 --> 00:17:45,000 Speaker 1: to go more broadly beyond just Hong Kong. But in 331 00:17:45,160 --> 00:17:48,040 Speaker 1: terms of the U. S. China relationship, as you know, 332 00:17:48,240 --> 00:17:51,840 Speaker 1: there is a bipartisan group of lawmakers. You are one 333 00:17:51,880 --> 00:17:54,840 Speaker 1: of them who are really every day taking a look 334 00:17:55,080 --> 00:17:57,640 Speaker 1: at a host of different tools in terms of US 335 00:17:57,720 --> 00:18:00,760 Speaker 1: foreign policy as it relates to China, as it relates 336 00:18:00,800 --> 00:18:04,400 Speaker 1: to Beijing. And so I'm curious what the next step 337 00:18:04,480 --> 00:18:07,120 Speaker 1: would be, maybe even in the fall, is what I'm 338 00:18:07,200 --> 00:18:10,280 Speaker 1: hearing about other avenues that could be explored. Can you 339 00:18:10,320 --> 00:18:13,920 Speaker 1: give us a preview of some of the bipartisanship avenues 340 00:18:14,000 --> 00:18:18,000 Speaker 1: that are being explored? Well? Sure, We've also introduced a 341 00:18:18,119 --> 00:18:26,120 Speaker 1: bipartisan legislation to protect US intellectual property by imposing sanctions 342 00:18:26,160 --> 00:18:32,360 Speaker 1: on those who are really serial violators of intellectual property 343 00:18:32,720 --> 00:18:36,399 Speaker 1: uh theft, and we think it's very important that we 344 00:18:37,400 --> 00:18:41,560 Speaker 1: not allow the wholesale theft of US intellectual property and 345 00:18:41,640 --> 00:18:45,040 Speaker 1: that we have tools available to set up an advance 346 00:18:45,400 --> 00:18:49,400 Speaker 1: so that if you're a law way Ers DT, were 347 00:18:49,440 --> 00:18:53,400 Speaker 1: the next version of one of those companies, you will 348 00:18:53,480 --> 00:18:58,600 Speaker 1: know that you will be penalized for undermining and stealing 349 00:18:59,200 --> 00:19:04,200 Speaker 1: US technology tide edge innovation. So that's one of many. 350 00:19:04,280 --> 00:19:08,080 Speaker 1: We also need to look at a variety of other tools, 351 00:19:08,320 --> 00:19:10,840 Speaker 1: and as you said, we're in the process of doing that. 352 00:19:11,160 --> 00:19:14,880 Speaker 1: Switching gears now. Just talking more broadly, Sentimentarity Leader Mitch 353 00:19:14,960 --> 00:19:17,720 Speaker 1: McConnell has suggested that he would like to see another 354 00:19:17,800 --> 00:19:21,199 Speaker 1: round of economic stimulus advance ahead of the August recess. 355 00:19:21,320 --> 00:19:25,520 Speaker 1: The President has also suggested as much, are you optimistic 356 00:19:25,640 --> 00:19:28,800 Speaker 1: that that a bipartisan package, but the trillion dollar price 357 00:19:28,880 --> 00:19:31,200 Speaker 1: tag is what we're hearing the White House limit that 358 00:19:31,320 --> 00:19:34,040 Speaker 1: they want. Are you optimistic that that can happen before 359 00:19:34,080 --> 00:19:36,399 Speaker 1: the August recess? Well, we really should have done this 360 00:19:36,760 --> 00:19:41,679 Speaker 1: before the July break to give the American public confidence 361 00:19:42,280 --> 00:19:46,560 Speaker 1: that we're going to continue to help the economy, uh, 362 00:19:47,040 --> 00:19:50,040 Speaker 1: you know, through this very difficult period of time. You know, 363 00:19:50,119 --> 00:19:53,040 Speaker 1: we have a president talking as if this pandemic is 364 00:19:53,160 --> 00:19:56,280 Speaker 1: long past, when in fact it's very much still with 365 00:19:56,520 --> 00:20:00,840 Speaker 1: us as our negative economic consequences. But I do hope 366 00:20:00,880 --> 00:20:05,000 Speaker 1: that as soon as the Senate reconvenes that we take 367 00:20:05,119 --> 00:20:08,080 Speaker 1: up the Heroes Act passed by the House. Now. I 368 00:20:08,119 --> 00:20:11,400 Speaker 1: know Senator McConnell says that's a non starter for him, 369 00:20:11,480 --> 00:20:13,919 Speaker 1: but he needs to put something on the table. I mean, 370 00:20:13,960 --> 00:20:16,760 Speaker 1: it's been a lot of talk from Senator McConnell, but 371 00:20:16,880 --> 00:20:20,880 Speaker 1: we haven't seen any particular proposals. We've heard a lot 372 00:20:21,000 --> 00:20:25,560 Speaker 1: about what he doesn't want, but we haven't seen what 373 00:20:25,720 --> 00:20:30,360 Speaker 1: he supports in terms of economic relief. So I hope 374 00:20:30,400 --> 00:20:37,720 Speaker 1: we can get it done. That That was Senator Chris 375 00:20:38,119 --> 00:20:44,280 Speaker 1: van Holland, a Democrat from Maryland, speaking earlier today to 376 00:20:44,480 --> 00:20:48,480 Speaker 1: me on Bloomberg Television. I'm Kevin Silly, Chief Washington correspondent 377 00:20:48,520 --> 00:20:51,320 Speaker 1: for Bloomberg Television and for Bloomberg Radio. And we just 378 00:20:51,400 --> 00:20:55,040 Speaker 1: got word here, folks, from Christine Barrata. The news never stops. 379 00:20:55,520 --> 00:21:00,400 Speaker 1: The news never stops. Abigail's ben Burger. Tomorrow, Congresswoman Bamburger 380 00:21:00,480 --> 00:21:03,879 Speaker 1: is gonna join us. Democrat from Virginia and Corey Lewandowski. 381 00:21:04,440 --> 00:21:09,320 Speaker 1: Corey's calling in remember him Trump World. That's tomorrow coming 382 00:21:09,400 --> 00:21:12,520 Speaker 1: up next. Javita Caranza of the Small Business Administration, you're 383 00:21:12,520 --> 00:21:18,200 Speaker 1: listening to Bloomberg nine and one. You're listening to Bloomberg 384 00:21:18,320 --> 00:21:22,399 Speaker 1: Sound On with Kevin Surrel on Bloomberg and one oh 385 00:21:22,480 --> 00:21:26,160 Speaker 1: five point seven f m h D two. Halfway through 386 00:21:26,200 --> 00:21:29,840 Speaker 1: the week, folks, keep on keeping on. My name is 387 00:21:29,960 --> 00:21:34,160 Speaker 1: Kevin Curreli. I'm the chief Washington correspondent from Bloomberg Television 388 00:21:34,200 --> 00:21:39,400 Speaker 1: and from Bloomberg Radio. And tomorrow we're gonna have Corey Lewandowski, 389 00:21:40,160 --> 00:21:45,640 Speaker 1: senior advisor to President Trump's reelection and Caregresswoman Abigail Spenberger, 390 00:21:46,160 --> 00:21:50,680 Speaker 1: Democrat from Virginia. So we're keeping the conversation. I want 391 00:21:50,720 --> 00:21:55,520 Speaker 1: to continue the conversation with the Small Business Administrations Director 392 00:21:56,680 --> 00:21:59,879 Speaker 1: Javita Coranza. Take a listen to what she had to 393 00:22:00,080 --> 00:22:04,879 Speaker 1: about transparency with those PTP loans play tape. We've just 394 00:22:05,080 --> 00:22:08,119 Speaker 1: received some of the data about who has gotten access 395 00:22:08,160 --> 00:22:11,119 Speaker 1: to the p p P loans that have been out there. Now. 396 00:22:11,280 --> 00:22:13,800 Speaker 1: There have been some criticism, as you know, that it 397 00:22:13,920 --> 00:22:17,200 Speaker 1: was the politically well connected, uh that that we're able 398 00:22:17,240 --> 00:22:20,240 Speaker 1: to get access to this. What is the administration doing 399 00:22:20,320 --> 00:22:23,200 Speaker 1: to make sure that any small business that needs and 400 00:22:23,359 --> 00:22:27,240 Speaker 1: qualifies for those loans is able to get it? Well, Kevin, 401 00:22:27,240 --> 00:22:28,920 Speaker 1: I'd like to start out by saying that the p 402 00:22:29,040 --> 00:22:31,920 Speaker 1: p P has proven to be very successful. It has 403 00:22:31,960 --> 00:22:36,960 Speaker 1: actually achieved its two objectives, which was job retention, wage 404 00:22:37,000 --> 00:22:41,680 Speaker 1: growth all in one and then also sustaining of small businesses. 405 00:22:42,160 --> 00:22:44,680 Speaker 1: And the p PP has saved nearly five million small 406 00:22:44,760 --> 00:22:48,080 Speaker 1: business enterprises. So those are the data, you know, the 407 00:22:48,200 --> 00:22:50,879 Speaker 1: data points that I always look at the fact that 408 00:22:50,960 --> 00:22:56,159 Speaker 1: we processed about five billion dollars and saved and this 409 00:22:56,280 --> 00:22:58,359 Speaker 1: is the other data point I always stay focused on. 410 00:22:59,119 --> 00:23:02,879 Speaker 1: We we estimate based on the entry on all of 411 00:23:02,960 --> 00:23:06,040 Speaker 1: the loan applications that we've saved and estimated fifty one 412 00:23:06,119 --> 00:23:09,440 Speaker 1: million jobs. And I also looked at the fact that 413 00:23:10,240 --> 00:23:12,760 Speaker 1: of the funding. If you look at the data very closely, 414 00:23:13,400 --> 00:23:16,480 Speaker 1: you noticed that most of the loans were made um 415 00:23:17,440 --> 00:23:20,600 Speaker 1: about a hundred and fifty thousand dollars in less. Actually, 416 00:23:20,680 --> 00:23:23,000 Speaker 1: I look at loans that are five thousands or twenty 417 00:23:23,040 --> 00:23:28,240 Speaker 1: thous dollars and we have provided funding for I would 418 00:23:28,280 --> 00:23:33,080 Speaker 1: say of the loan volume and value of the loans 419 00:23:33,600 --> 00:23:37,600 Speaker 1: really went to low income counties. And that's why as 420 00:23:37,640 --> 00:23:41,000 Speaker 1: I traveled throughout the United States, I visited those particular 421 00:23:41,080 --> 00:23:46,040 Speaker 1: communities and and the businesses have been hit the hardest, Kevin, 422 00:23:46,320 --> 00:23:52,639 Speaker 1: like the restaurants, for the manufacturing and and Javita. I 423 00:23:52,760 --> 00:23:56,440 Speaker 1: want to ask you specifically about some of the criticism 424 00:23:56,600 --> 00:23:59,680 Speaker 1: about the data that has been made public. Democrats have 425 00:23:59,800 --> 00:24:04,719 Speaker 1: raised concerns that the smaller sized loans have not yet 426 00:24:04,840 --> 00:24:08,320 Speaker 1: been disclosed. Loans that are that are fewer than a 427 00:24:08,400 --> 00:24:11,639 Speaker 1: hundred and fifty thousand dollars for those approve learned loans. 428 00:24:12,119 --> 00:24:19,040 Speaker 1: Why why is that information considered proprietary or confidential? Kevin. 429 00:24:19,080 --> 00:24:21,960 Speaker 1: That's an excellent question because as an administrator of a 430 00:24:22,000 --> 00:24:27,960 Speaker 1: small business administration, I take um my radiciary responsibility very 431 00:24:28,040 --> 00:24:33,840 Speaker 1: seriously about protecting proprietary and confidence and competitive information and 432 00:24:33,960 --> 00:24:38,760 Speaker 1: the smallest, the small smallest businesses like the sole proprietors 433 00:24:39,320 --> 00:24:42,359 Speaker 1: or for that matter, the independent contractors. I always use 434 00:24:42,440 --> 00:24:45,960 Speaker 1: as as an example, Kevin, here you have a woman, 435 00:24:46,640 --> 00:24:51,040 Speaker 1: single parent, single parent, who's an uber or lift driver, 436 00:24:51,960 --> 00:24:55,320 Speaker 1: and her home address is her business address, and she's 437 00:24:55,320 --> 00:24:58,600 Speaker 1: applying for something like less than five thousand dollars that 438 00:24:58,920 --> 00:25:02,440 Speaker 1: is very confident mential information. And that's the information that 439 00:25:02,480 --> 00:25:05,680 Speaker 1: we were trying to protect when we were very specific 440 00:25:05,800 --> 00:25:09,440 Speaker 1: about what we would release in what we wouldn't release. UM. 441 00:25:09,920 --> 00:25:12,720 Speaker 1: You know, the g a O Office and the Congressional 442 00:25:13,040 --> 00:25:18,720 Speaker 1: Oversight members, they've received information UM that's unique to their 443 00:25:18,800 --> 00:25:23,840 Speaker 1: particular UM requirements, but as it relates to the public information. 444 00:25:24,600 --> 00:25:29,000 Speaker 1: That's why we protected certain certain loan values and and 445 00:25:29,200 --> 00:25:33,639 Speaker 1: beyond that. Just on Saturday, the President extending the deadline 446 00:25:33,760 --> 00:25:36,480 Speaker 1: for p p P loans I believe until August eight, 447 00:25:37,040 --> 00:25:39,520 Speaker 1: and there I think it's a hundred and thirty plus 448 00:25:39,680 --> 00:25:44,080 Speaker 1: billion dollars worth of remaining funds for for small businesses loans. 449 00:25:44,720 --> 00:25:48,240 Speaker 1: Do you think if if that money isn't isn't used 450 00:25:48,320 --> 00:25:51,560 Speaker 1: up by August eight, where do you think that will go? 451 00:25:51,920 --> 00:25:55,240 Speaker 1: And what is the best way to appropriate the leftover 452 00:25:55,800 --> 00:25:59,320 Speaker 1: funds specifically to targets? So really micro's target some of 453 00:25:59,400 --> 00:26:03,080 Speaker 1: these smallness is micro businesses even around the country that 454 00:26:03,200 --> 00:26:07,840 Speaker 1: are the backbone of of of America's economy. Well, Kevin, 455 00:26:07,920 --> 00:26:11,760 Speaker 1: let me answer your question to fold. The President took 456 00:26:11,840 --> 00:26:16,320 Speaker 1: historic action and very focused on small business, small businesses 457 00:26:16,440 --> 00:26:21,080 Speaker 1: and their employees, and he made available hundreds of billions 458 00:26:21,119 --> 00:26:24,639 Speaker 1: of dollars. We've already processed a half a trillion dollars 459 00:26:24,800 --> 00:26:28,040 Speaker 1: worth of funds for small businesses. You have the data, 460 00:26:28,960 --> 00:26:32,919 Speaker 1: and so that represents Again, I can't emphasize more fifty 461 00:26:33,000 --> 00:26:36,920 Speaker 1: one million jobs and if the one hundred and twenty 462 00:26:37,000 --> 00:26:39,840 Speaker 1: five over one hundred and twenty five billion dollars that 463 00:26:40,000 --> 00:26:44,720 Speaker 1: remains and that's available through August eight, We're really focused 464 00:26:44,840 --> 00:26:49,560 Speaker 1: on continuing to provide funds for sole proprietors and independent 465 00:26:49,600 --> 00:26:53,200 Speaker 1: contractors whose Kevin. Many of them were apprehensive and some 466 00:26:53,400 --> 00:26:57,520 Speaker 1: of them returned their loans, and so we are encouraging 467 00:26:58,359 --> 00:27:01,919 Speaker 1: for these particular businesses to work with their local lenders, 468 00:27:02,000 --> 00:27:07,720 Speaker 1: and we have over fifty undred lending partners and Kevin, 469 00:27:07,760 --> 00:27:11,480 Speaker 1: you'd be pleased to know that there are more sedifies 470 00:27:11,560 --> 00:27:16,040 Speaker 1: and credit unions applying to be authorized so that they 471 00:27:16,119 --> 00:27:19,840 Speaker 1: can provide P P P loans because it's a forgivable loan. 472 00:27:20,040 --> 00:27:23,240 Speaker 1: As long as the small business can demonstrate that they've 473 00:27:23,320 --> 00:27:26,280 Speaker 1: used their funds to retain their employees as well as 474 00:27:26,320 --> 00:27:31,040 Speaker 1: their operating costs, that's like a win win proposition. The 475 00:27:31,359 --> 00:27:36,040 Speaker 1: loan will be forgiven. So I really expect maybe a 476 00:27:36,200 --> 00:27:41,360 Speaker 1: slow intake, but um, definitely more businesses, unique businesses will 477 00:27:41,359 --> 00:27:44,639 Speaker 1: be applying for these moans. Again, over a hundred twenty 478 00:27:44,720 --> 00:27:48,600 Speaker 1: five billion in the P P P loan portfolio, but 479 00:27:48,720 --> 00:27:52,360 Speaker 1: also we have the disaster loan portfolio, which is called 480 00:27:52,400 --> 00:27:56,600 Speaker 1: the Economic Injury Disaster Loan Portfolio. The COVID that has 481 00:27:57,359 --> 00:27:59,680 Speaker 1: I'm going to say about another eighty the ninety billion 482 00:27:59,720 --> 00:28:02,399 Speaker 1: dollars is available for small businesses. I just got a 483 00:28:02,440 --> 00:28:05,600 Speaker 1: couple more questions. Yeah, I know you are, and that's 484 00:28:05,600 --> 00:28:07,240 Speaker 1: why I want to be very respectful of your time. 485 00:28:07,280 --> 00:28:10,800 Speaker 1: And I've just got a couple more questions because as 486 00:28:11,080 --> 00:28:13,840 Speaker 1: as Congress gets rolls up their sleeve and tries to 487 00:28:14,440 --> 00:28:17,280 Speaker 1: get to some type of another round of economic stimulus, 488 00:28:17,320 --> 00:28:18,880 Speaker 1: and the President has come out and said he wants 489 00:28:18,880 --> 00:28:23,119 Speaker 1: there's leader McConnell has said, but before August recess, but 490 00:28:23,520 --> 00:28:26,800 Speaker 1: what do you think are some creative ways to target 491 00:28:27,240 --> 00:28:30,119 Speaker 1: micro businesses, to target these mom and pop shops And 492 00:28:30,160 --> 00:28:34,240 Speaker 1: I don't like using that cliche, but these small town businesses. 493 00:28:34,680 --> 00:28:37,000 Speaker 1: What are some new ways that we can we can 494 00:28:37,080 --> 00:28:40,920 Speaker 1: help those businesses, UM in the next stimulus that you'd 495 00:28:41,000 --> 00:28:45,120 Speaker 1: like to see. Yes, Kevin, there's a lot of discussion 496 00:28:46,000 --> 00:28:49,680 Speaker 1: in the negotiations. Currently, we've submitted some of our recommendations 497 00:28:49,800 --> 00:28:54,240 Speaker 1: to them concerning our what we call the flagship um 498 00:28:54,720 --> 00:28:57,240 Speaker 1: loan portfolio, which is a seven aide of Bible four 499 00:28:57,400 --> 00:29:00,880 Speaker 1: which really focuses on manufacturing and the focus it focus 500 00:29:00,960 --> 00:29:04,760 Speaker 1: is really in the underserved communities where sixty of their 501 00:29:04,760 --> 00:29:07,720 Speaker 1: employees have to come from that community. So we're really 502 00:29:07,800 --> 00:29:10,160 Speaker 1: interested in the seven eight five or or portfolio in 503 00:29:10,160 --> 00:29:14,440 Speaker 1: the community advantage. We've also looked at our federal but chairman, 504 00:29:14,480 --> 00:29:18,200 Speaker 1: our government Contracting office, and then they're also there's also 505 00:29:18,400 --> 00:29:23,080 Speaker 1: other um considerations on the table where we definitely are 506 00:29:23,160 --> 00:29:26,440 Speaker 1: listening to all our small businesses and the chambers and 507 00:29:26,560 --> 00:29:30,720 Speaker 1: the trade associations on what they believe would be necessary 508 00:29:30,960 --> 00:29:34,960 Speaker 1: to two again assist these small businesses to whether this 509 00:29:35,120 --> 00:29:37,880 Speaker 1: particular storm, this pandemic was only supposed to last two 510 00:29:37,960 --> 00:29:41,600 Speaker 1: or three weeks, Kevin, that was the first lifeline, and 511 00:29:41,680 --> 00:29:44,000 Speaker 1: then it was expanded to the second corns of funds, 512 00:29:44,040 --> 00:29:47,200 Speaker 1: which which we now still have a hundred and twenty 513 00:29:47,280 --> 00:29:49,680 Speaker 1: five thousand of US I'm sorry, a hundred and fifty 514 00:29:49,760 --> 00:29:54,400 Speaker 1: billion available all in s b A. So Kevin, we 515 00:29:54,560 --> 00:29:59,880 Speaker 1: want to make sure that the small business community continue 516 00:30:00,200 --> 00:30:06,040 Speaker 1: to thrive like they did free COVID pandemic, because I'll 517 00:30:06,080 --> 00:30:09,320 Speaker 1: give you a couple of statistics. The Hispanic women's small 518 00:30:09,400 --> 00:30:13,560 Speaker 1: businesses and the African American small women's small businesses with 519 00:30:13,680 --> 00:30:19,080 Speaker 1: the fastest growing small businesses pre pandemic, and they were 520 00:30:19,440 --> 00:30:24,960 Speaker 1: significant employers, and they definitely represent half of the GDP 521 00:30:25,160 --> 00:30:27,960 Speaker 1: in the United States that represents something like ten to 522 00:30:28,120 --> 00:30:33,160 Speaker 1: eleven trillion dollars. So I hope that brings in an 523 00:30:33,160 --> 00:30:37,040 Speaker 1: appreciation why this president is so focused on small business 524 00:30:37,080 --> 00:30:41,719 Speaker 1: and this entire administrations focus on small businesses because they 525 00:30:41,800 --> 00:30:47,960 Speaker 1: are such a essential um economic fuel engine into our 526 00:30:48,080 --> 00:30:54,160 Speaker 1: national economy. That was the administrator of the Small Business Administration, 527 00:30:54,560 --> 00:30:58,480 Speaker 1: Javita Caranza, speaking on a wide variety of topics. And 528 00:30:58,600 --> 00:31:00,480 Speaker 1: coming up next, we're going to check in with Lesser 529 00:31:00,560 --> 00:31:03,320 Speaker 1: months in to talk foreign policy. I'm Kevin Cirelli, Chief 530 00:31:03,360 --> 00:31:06,200 Speaker 1: Washington correspondent from Bloomberg TV and Radio, and you're listening 531 00:31:06,240 --> 00:31:29,800 Speaker 1: to Bloomberg and I did I one. This is Bloomberg 532 00:31:30,040 --> 00:31:34,640 Speaker 1: Sound On with Kevin Surreley on Bloomberg and one oh 533 00:31:34,760 --> 00:31:38,200 Speaker 1: five point seven f m h D two programming. Note, 534 00:31:38,360 --> 00:31:40,080 Speaker 1: I want to get a shout out to the Bloomberg 535 00:31:40,200 --> 00:31:44,600 Speaker 1: Radio sound on team Roufal for doing the audio, Barrata 536 00:31:45,160 --> 00:31:51,880 Speaker 1: for dealing with me not surely our booker. Uh. It's 537 00:31:51,920 --> 00:31:54,680 Speaker 1: a team effort. It's a team effort to do these things, 538 00:31:54,720 --> 00:31:56,160 Speaker 1: you know, And I'm grateful to be a part of 539 00:31:56,200 --> 00:31:59,480 Speaker 1: the team. I'm Kevin Cirelli, Chief Washington correspondent from Bloomberg 540 00:31:59,560 --> 00:32:04,120 Speaker 1: TV and Bloomberg Radio, and uh, I want to welcome 541 00:32:04,120 --> 00:32:07,880 Speaker 1: back a good friend of the program. His name is 542 00:32:07,960 --> 00:32:12,560 Speaker 1: Lester Munson, and he is an insider. I mean, there's 543 00:32:12,600 --> 00:32:15,000 Speaker 1: really no other way to describe him, but he's an 544 00:32:15,000 --> 00:32:19,760 Speaker 1: insider for all things conservative as it relates to foreign policy. 545 00:32:20,200 --> 00:32:24,080 Speaker 1: He's a principal at government relations firm b g R Group, 546 00:32:24,400 --> 00:32:26,960 Speaker 1: the b GR Group. Uh. And he used to work 547 00:32:27,040 --> 00:32:30,120 Speaker 1: for the chairman of the Set of Foreign Relations Committee, 548 00:32:30,160 --> 00:32:35,400 Speaker 1: Bob Corker. What's Bob up to these days? Lester? Hey, Kevin, 549 00:32:35,480 --> 00:32:39,320 Speaker 1: I think he is um enjoying the private sector, probably 550 00:32:39,400 --> 00:32:42,239 Speaker 1: making a lot of money. He's a terrific businessman and uh, 551 00:32:42,480 --> 00:32:46,520 Speaker 1: I think he's happy in Tennessee. He's also a grandpa 552 00:32:46,720 --> 00:32:48,600 Speaker 1: a couple of times over and I think he's enjoying 553 00:32:48,680 --> 00:32:51,440 Speaker 1: that new status. That's always fun. You know, I'm a 554 00:32:51,440 --> 00:32:53,360 Speaker 1: little too young to be a grandpa. But you always 555 00:32:53,400 --> 00:32:57,520 Speaker 1: hear that. You always hear, Yeah, you always hear that. 556 00:32:57,600 --> 00:33:00,520 Speaker 1: It's a it's a good time. Okay, what's your radar? 557 00:33:00,600 --> 00:33:03,120 Speaker 1: Because you know, I was talking. I thought Greta's interview 558 00:33:03,200 --> 00:33:06,960 Speaker 1: with President Trump yesterday was just absolutely spot on the market. 559 00:33:06,960 --> 00:33:09,000 Speaker 1: I mean, she made so much news, but but on 560 00:33:09,080 --> 00:33:10,920 Speaker 1: foreign policy. And then you get this news on the 561 00:33:10,960 --> 00:33:13,080 Speaker 1: TikTok and we were joking about it all. You might 562 00:33:13,160 --> 00:33:16,480 Speaker 1: ban TikTok, but I mean there's some national security concerns, 563 00:33:16,600 --> 00:33:20,040 Speaker 1: especially when Chris van Holland, you heard it, Democrat Maryland 564 00:33:20,280 --> 00:33:23,920 Speaker 1: Senator Chris van Holland is saying that there's some bipartisanship 565 00:33:24,200 --> 00:33:27,800 Speaker 1: with some deep st skepticism rooted in the Communist Party 566 00:33:28,160 --> 00:33:32,560 Speaker 1: of China. Yeah, it's hard to tell these days because 567 00:33:32,600 --> 00:33:36,640 Speaker 1: everything seems so nasty and partisan and kind of dark 568 00:33:37,040 --> 00:33:41,680 Speaker 1: that there really is bipartisan approach to China, which is 569 00:33:41,960 --> 00:33:44,960 Speaker 1: probably the biggest foreign policy issue we're dealing with today, 570 00:33:45,560 --> 00:33:47,480 Speaker 1: and both parties are pretty much in the same place. 571 00:33:47,520 --> 00:33:51,760 Speaker 1: They're very skeptical of Beijing. Their skeptical of these companies that, uh, 572 00:33:51,880 --> 00:33:54,960 Speaker 1: you know, a certain fealty to the Chinese Communist Party, 573 00:33:55,240 --> 00:33:57,800 Speaker 1: and I don't see where the brakes are. We're kind 574 00:33:57,800 --> 00:34:01,560 Speaker 1: of on a a runaway train um of folks who 575 00:34:01,560 --> 00:34:04,280 Speaker 1: are criticizing China and Chinese companies. This is this is 576 00:34:04,360 --> 00:34:06,840 Speaker 1: going to continue to get worse. So when you're advising 577 00:34:07,400 --> 00:34:11,280 Speaker 1: your clients in terms of where geopolitics are headed between 578 00:34:11,360 --> 00:34:14,760 Speaker 1: now and and and the fall on the issue of China, 579 00:34:15,280 --> 00:34:18,480 Speaker 1: the the the Hong Kong Bill and the sanctions against 580 00:34:18,520 --> 00:34:20,680 Speaker 1: officials who are doing business with them is just the 581 00:34:20,760 --> 00:34:23,880 Speaker 1: first step in terms of the policy arsenal that is 582 00:34:23,960 --> 00:34:29,040 Speaker 1: at folks disposal, they could really decouple Hong Kong's currency 583 00:34:29,200 --> 00:34:32,640 Speaker 1: from the dollar, and that would from the benchmark perspective, 584 00:34:32,680 --> 00:34:36,440 Speaker 1: and that would really really be ratcheting it up. Senator 585 00:34:36,520 --> 00:34:39,200 Speaker 1: Van Holland and his interview with me earlier today as 586 00:34:39,239 --> 00:34:42,600 Speaker 1: a key Democrat on this was very skeptical based on 587 00:34:42,760 --> 00:34:45,200 Speaker 1: the conversation that I have with him about doing that. 588 00:34:45,440 --> 00:34:48,239 Speaker 1: But Bloomberg is reporting my colleagues on the White House 589 00:34:48,280 --> 00:34:50,759 Speaker 1: team that there are some folks in the administration who 590 00:34:50,800 --> 00:34:53,640 Speaker 1: are are advising him to take that step. That's just 591 00:34:53,760 --> 00:34:58,640 Speaker 1: another leverage point that the US has, is it not? Yeah? Absolutely, 592 00:34:58,800 --> 00:35:02,000 Speaker 1: the US has a lot of two rules in the toolbox. Um. 593 00:35:03,280 --> 00:35:06,320 Speaker 1: A lot of these things, though, are better to talk 594 00:35:06,400 --> 00:35:10,080 Speaker 1: about and hold out as threats rather than to actually 595 00:35:10,200 --> 00:35:12,960 Speaker 1: execute on. And so what it would be good to 596 00:35:13,000 --> 00:35:16,960 Speaker 1: see from the administration, and you know, call me crazy'd 597 00:35:17,000 --> 00:35:19,520 Speaker 1: be great if Democrats and Congress could work with them 598 00:35:19,560 --> 00:35:23,600 Speaker 1: on this is to think about a comprehensive strategic plan 599 00:35:23,719 --> 00:35:26,520 Speaker 1: to engage the Chinese to pull back a little bit 600 00:35:26,600 --> 00:35:30,120 Speaker 1: from Hong Kong, leave the freedoms in place there, and 601 00:35:30,560 --> 00:35:33,000 Speaker 1: and maybe say we don't want to have to do 602 00:35:33,160 --> 00:35:36,600 Speaker 1: these things, but we will if which comes to shove. Now, 603 00:35:36,680 --> 00:35:39,440 Speaker 1: maybe a little late for that Chinese taking a lot 604 00:35:39,480 --> 00:35:42,680 Speaker 1: of steps in Hong Kong that may be irreversible, but 605 00:35:42,760 --> 00:35:45,320 Speaker 1: it'd be nice to see the administration use the leverage 606 00:35:45,360 --> 00:35:48,440 Speaker 1: it has to get some concessions rather than just kind 607 00:35:48,480 --> 00:35:51,759 Speaker 1: of metuor composing a bunch of sanctions immediately and not 608 00:35:51,880 --> 00:35:54,440 Speaker 1: really getting anything for us. I mean, and and I 609 00:35:54,880 --> 00:35:57,320 Speaker 1: really cannot wait to for you to respond to this, 610 00:35:57,520 --> 00:36:02,200 Speaker 1: because the whole aiming of the U S. China relationship 611 00:36:02,320 --> 00:36:06,040 Speaker 1: over the last several decades has been that democracy lowercase 612 00:36:06,120 --> 00:36:10,320 Speaker 1: D and American capitalism would help pressure the US to 613 00:36:10,520 --> 00:36:13,320 Speaker 1: get or I'm sorry, would help pressure China rather to 614 00:36:13,800 --> 00:36:16,680 Speaker 1: become more like the western part of the world. And 615 00:36:16,760 --> 00:36:19,400 Speaker 1: what we're seeing with their actions with Hong Kong, what 616 00:36:19,520 --> 00:36:22,440 Speaker 1: we're seeing with their lack of transparency to the to 617 00:36:22,520 --> 00:36:26,640 Speaker 1: the international community for COVID nineteen is just is not 618 00:36:26,880 --> 00:36:29,879 Speaker 1: that at all. And so I do we I guess, 619 00:36:29,920 --> 00:36:32,719 Speaker 1: how does America, whether it's a Trump second term or 620 00:36:32,760 --> 00:36:37,560 Speaker 1: Abiden or a Biden present administration, how does America reset 621 00:36:37,640 --> 00:36:43,239 Speaker 1: from that? Well, it's already happening, right, Um. One of 622 00:36:43,360 --> 00:36:46,400 Speaker 1: the one of the primary drivers of of the phenomenon 623 00:36:46,440 --> 00:36:49,120 Speaker 1: you're talking about, and you're absolutely right, that was the 624 00:36:49,280 --> 00:36:52,160 Speaker 1: US position for decades. One of the primary drivers of 625 00:36:52,200 --> 00:36:55,560 Speaker 1: that was the US business community, which was making huge 626 00:36:55,600 --> 00:37:00,320 Speaker 1: investments in China, was promoting US Chinese ties. It was 627 00:37:00,440 --> 00:37:02,839 Speaker 1: good for China, it was good for the US, at 628 00:37:02,920 --> 00:37:05,600 Speaker 1: least we thought so at the time. And uh, you know, 629 00:37:05,760 --> 00:37:08,560 Speaker 1: everyone was prospering. And let's face it, there's a lot 630 00:37:08,640 --> 00:37:11,399 Speaker 1: of good news. Hundreds of millions of people in China 631 00:37:11,480 --> 00:37:14,400 Speaker 1: were lifted out of poverty. It was economic growth like 632 00:37:14,440 --> 00:37:19,160 Speaker 1: we've never seen before. Uh. The US economy prospered as well, 633 00:37:19,280 --> 00:37:22,000 Speaker 1: maybe not quite as much, but it was mutually beneficial 634 00:37:22,080 --> 00:37:25,040 Speaker 1: for a long time. That's things have changed the last 635 00:37:25,080 --> 00:37:29,600 Speaker 1: ten years. The Hijan Pang administration really taken a different tack, 636 00:37:30,280 --> 00:37:32,600 Speaker 1: and the business community has responded. What they're seeing in 637 00:37:32,800 --> 00:37:38,160 Speaker 1: China with violations of intellectual property, with failure of any 638 00:37:38,280 --> 00:37:42,120 Speaker 1: kind of objective rule of law, for the failure to 639 00:37:42,239 --> 00:37:46,879 Speaker 1: protect foreign investors has changed the business community's outlook on China. 640 00:37:46,960 --> 00:37:49,640 Speaker 1: That's a that's a big change in Washington the last 641 00:37:50,239 --> 00:37:52,520 Speaker 1: five or ten years is the business community is no 642 00:37:52,680 --> 00:37:57,920 Speaker 1: longer promoting the bilateral relationship. Instead they're promoting skepticism of 643 00:37:58,000 --> 00:38:01,520 Speaker 1: the bilateral relationship because of what they happening in China. 644 00:38:01,680 --> 00:38:04,719 Speaker 1: So this is it's been a long time coming in UH. 645 00:38:04,800 --> 00:38:07,160 Speaker 1: And I think what we're what we're seeing now is 646 00:38:07,280 --> 00:38:10,520 Speaker 1: really the result of the last five or ten years, 647 00:38:10,640 --> 00:38:14,320 Speaker 1: a lot more uh, a lot more of a hard 648 00:38:14,440 --> 00:38:17,479 Speaker 1: eyed look at the way Chinese policies are really hurting 649 00:38:17,480 --> 00:38:20,480 Speaker 1: American businesses and the American economy. Less than months, it's 650 00:38:20,520 --> 00:38:22,520 Speaker 1: on the line. He's the principle at the Government relations 651 00:38:22,560 --> 00:38:25,399 Speaker 1: from b GR Group. You previously served for the Senate 652 00:38:25,480 --> 00:38:29,279 Speaker 1: Foreign Relations Committee Chairman Bob Corker when Corker was in office. Less, 653 00:38:29,320 --> 00:38:31,440 Speaker 1: you're what's on your radar? Maybe it's something that we 654 00:38:31,560 --> 00:38:34,680 Speaker 1: haven't spoken about, but what's on your radar for for 655 00:38:34,840 --> 00:38:37,480 Speaker 1: this week? That that hasn't gotten a lot of attention. 656 00:38:39,160 --> 00:38:41,160 Speaker 1: Uh So, we're still in the middle of the pandemic. 657 00:38:41,320 --> 00:38:45,120 Speaker 1: It's a it's a worldwide epidemic. Uh. You know, we're 658 00:38:45,280 --> 00:38:49,399 Speaker 1: we're hopefully um getting, you know, taking baby steps towards 659 00:38:49,440 --> 00:38:51,480 Speaker 1: a more normal economy, but a lot of other countries 660 00:38:51,520 --> 00:38:54,000 Speaker 1: in the world, developing countries are starting to struggle with this. 661 00:38:54,560 --> 00:38:58,000 Speaker 1: We're seeing African countries, Latin American countries, Brazil could be 662 00:38:58,040 --> 00:39:00,560 Speaker 1: the next big hot spot, do you s needs to 663 00:39:00,600 --> 00:39:04,160 Speaker 1: play a leading role in that international response. We need 664 00:39:04,239 --> 00:39:07,160 Speaker 1: to make sure it's not China that's doing it, or 665 00:39:07,360 --> 00:39:10,360 Speaker 1: Russia or the Iranians. We need to be taking advantage 666 00:39:10,360 --> 00:39:14,719 Speaker 1: of this opportunity to demonstrate how our values of human rights, 667 00:39:14,960 --> 00:39:18,880 Speaker 1: democracy and freedom are are better than the alternative. A 668 00:39:18,960 --> 00:39:21,080 Speaker 1: lot of that's pretty easy to say, but we got 669 00:39:21,200 --> 00:39:23,600 Speaker 1: to execute. We need to be helping these countries. We 670 00:39:23,880 --> 00:39:27,480 Speaker 1: have the wherewithal to provide the assistance that can benefit them. 671 00:39:27,960 --> 00:39:30,600 Speaker 1: We should have a robust foreign aid program that helps 672 00:39:30,760 --> 00:39:34,320 Speaker 1: our friendly countries that are friendly to us and poorer 673 00:39:34,400 --> 00:39:38,880 Speaker 1: countries deal with this pandemic in a way that sets 674 00:39:39,040 --> 00:39:41,320 Speaker 1: us up to be a better global leader when we 675 00:39:41,400 --> 00:39:43,319 Speaker 1: come out of it. It's self power too, I mean 676 00:39:43,440 --> 00:39:46,439 Speaker 1: less Months in uh of the b GR group, thanks 677 00:39:46,480 --> 00:39:49,880 Speaker 1: for joining us. I appreciate it. Uh, it's self power too, folks, 678 00:39:49,920 --> 00:39:52,719 Speaker 1: I mean everyone talking about it from the Peace Corps perspective, 679 00:39:52,800 --> 00:39:56,799 Speaker 1: from the Pompeo State's Department perspective, to Maryan Williamson from 680 00:39:57,040 --> 00:39:58,920 Speaker 1: and what she called for a Department of Peace. I mean, 681 00:39:58,960 --> 00:40:02,440 Speaker 1: it's it's that vacu that power vacuum of America needing 682 00:40:02,920 --> 00:40:08,120 Speaker 1: to lead on that. Yeah, that's right, Yeah, exactly, all right, 683 00:40:08,160 --> 00:40:09,960 Speaker 1: thank you, Lester Months. And I appreciate that. Speaking of 684 00:40:10,280 --> 00:40:13,759 Speaker 1: Mary Williamson, it's her birthday today, Happy birthday, Marianne Williamson. 685 00:40:13,840 --> 00:40:16,879 Speaker 1: And coming up tomorrow on the program Corey Lewandowski as 686 00:40:17,000 --> 00:40:21,680 Speaker 1: well as Congresswoman Abigail Spamburger. One of the things that's 687 00:40:21,680 --> 00:40:24,040 Speaker 1: on my radar is a former Vice President Joe Biden, 688 00:40:24,080 --> 00:40:27,360 Speaker 1: Democratic nominee. He will be unveiling an economic plan tomorrow 689 00:40:27,440 --> 00:40:30,360 Speaker 1: I promise you we will have continuing reaction on Bloomberg 690 00:40:30,400 --> 00:40:32,799 Speaker 1: Television and on Bloomberg Radio. We just got word we're 691 00:40:32,800 --> 00:40:36,440 Speaker 1: going to get former Commerce Secretary UH Penny Pritzker. She's 692 00:40:36,440 --> 00:40:39,120 Speaker 1: gonna join us on Friday, so you can watch for 693 00:40:39,160 --> 00:40:41,840 Speaker 1: that cross platform on Bloomberg TV and radio. I'm telling you, 694 00:40:42,120 --> 00:40:45,680 Speaker 1: Bloomberg Radio Sound On team does not stop working for 695 00:40:45,840 --> 00:40:48,240 Speaker 1: you so that you can get the policy and politics 696 00:40:48,360 --> 00:40:51,920 Speaker 1: news coverage that you deserve. Thanks for listening. I'm Kevin Silly, 697 00:40:51,960 --> 00:40:54,440 Speaker 1: Chief Washington Correspondent FRO Bloomberg TV and Radio. To Bloomberg