Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Donald Trump has called him prime Time. It's the governor
Speaker 2: from Virginia, Glen Younkin, thank you for joining me here
Speaker 2: at Milwaukee.
Speaker 3: Good morning. You know.
Speaker 4: I have to say that the Republican National Convention, as
Speaker 4: we move into day three, has been a real statement.
Speaker 4: It's been in a statement about coming together in excitement.
Speaker 4: And when President Trump came into the arena on Monday
Speaker 4: night and it's the first time that everyone had really
Speaker 4: seen him since the assassination attempt, the place erupted and
Speaker 4: it was emotional, and I think it does represent not
Speaker 4: only confidence in the America that he built last time,
Speaker 4: but the one he can build again.
Speaker 3: So would you go work for.
Speaker 2: Him because he says he'd love to have you on
Speaker 2: the team.
Speaker 4: Well, it's an incredibly humbling sentiment. Let's be serious right now.
Speaker 4: The job is to win, and Virginia's in play, which
Speaker 4: is amazing to say. Joe Biden won Virginia by ten
Speaker 4: points last time, and then we came back in one
Speaker 4: two the next year and all the polls have Virginia
Speaker 4: locked up tight. So I'm going to go to work
Speaker 4: to one be a great governor in Virginia and then,
Speaker 4: second of all, make sure that we do everything we
Speaker 4: can for Donald Trump to win.
Speaker 2: So is there a sense if you flip Virginia and
Speaker 2: it goes red, you would join this administration?
Speaker 3: If you were asked to serve your.
Speaker 2: Country under President Donald Trump, would you join?
Speaker 3: There are so many ifs there. Let's just start with
Speaker 3: the work at hand.
Speaker 4: And I'm a pretty basic businessman who's become a governor,
Speaker 4: which is set objectives and let's go meet them.
Speaker 3: And we set the objectives.
Speaker 4: In Virginia to turn around Virginia's job growth and economy.
Speaker 4: And we've used all of the tools that we know work.
Speaker 4: We have had five billion dollars of tax relief, we've
Speaker 4: streamlined regulations in a big way.
Speaker 3: We've built a great.
Speaker 4: Workforce, and we've invested in our infrastructure. And you know,
Speaker 4: we were just ranked the top place for business. And
Speaker 4: that's because we really are the top place for business.
Speaker 4: So my job's really straightforward. Set objectives, let's go meet them.
Speaker 4: One of our objectives is to make sure that our
Speaker 4: congressional candidates win in Virginia, that we extend our majority
Speaker 4: in Washington, and to help Donald Trump win Virginia.
Speaker 2: You mentioned your business at community. You are part of
Speaker 2: the business world, a head of Carlisle. What I was
Speaker 2: hearing is that a lot of individuals on Wall Street
Speaker 2: well calling the former president, asking him to pick someone
Speaker 2: like you.
Speaker 3: And setting him with JD.
Speaker 2: Vance, someone that sometimes unnerves Wall Street. He's a protectionist individual,
Speaker 2: he's a populist. He's calling for tariffs. One of your
Speaker 2: biggest importers coming from China, how do you think Virginia
Speaker 2: would handle, say, sixty percent tariffs on China and a
Speaker 2: ten percent tariff ring around the United States.
Speaker 3: Let's first back up.
Speaker 4: I think one of the things that President Trump has
Speaker 4: been clear about and we know in the business community,
Speaker 4: is that free trade really doesn't exist because we've given
Speaker 4: unfettered access to the US market, and so many other
Speaker 4: countries actually don't provide reciprocal access to their markets. And
Speaker 4: let's be clear, US companies do not have access on
Speaker 4: an unfettered basis to the Chinese market, and yet they
Speaker 4: expect to have unfettered access to the US market. And
Speaker 4: so we've got to stand up strong for the United States.
Speaker 4: On top of that, China is not just a rival.
Speaker 4: They're trying to dominate the world and they're trying to
Speaker 4: do it at the expense of the United States. They
Speaker 4: use economic imperialism to do it, They saber rattle, and
Speaker 4: on top of that, they use every ounce to infiltrate
Speaker 4: every bit of the US economy to understand.
Speaker 3: How they can influence it.
Speaker 4: What that has translated to is a real recognition that
Speaker 4: we need to not only protect ourselves against China, but
Speaker 4: we need to fight back. And so the tariffs that
Speaker 4: President Trump imposed on China when he struck the first
Speaker 4: Chinese Deal, we're critical in order to rebalance an unbalanced
Speaker 4: situation with China and companies that are doing business in China.
Speaker 4: Take Ford for example. I mean, here's Ford, who has
Speaker 4: a big market share in China, and then they want
Speaker 4: to build an electric vehicle battery plant in the United States.
Speaker 4: And I can guarantee you that the Chinese government put
Speaker 4: immense pressure on them to use cattle technology in.
Speaker 3: The United States. And now we're seeing.
Speaker 4: That cattle technology is being banned by the US military
Speaker 4: because they're worried about the influence from the Chinese Communist Party.
Speaker 4: I mean, this is the way China does business, and
Speaker 4: we've got to make sure that we are.
Speaker 3: We're fighting back.
Speaker 2: Most economists those say tariffs are inflationary. So do you
Speaker 2: think that's the right solution to this problem? You don't
Speaker 2: think is currently free trade on the marketplace?
Speaker 4: Yeah, I do have to begin with I have lots
Speaker 4: of economist friends and work with them for a long time.
Speaker 3: And the economists aconomists are.
Speaker 2: One hundred dollars per every household. They ran all the numbers.
Speaker 4: Well, I know, people ran lots of numbers at the
Speaker 4: beginning of the year and said there's gonna be five
Speaker 4: rate cuts this year in the United States.
Speaker 3: Come on, let's be real.
Speaker 4: At the end of the day, I believe that President
Speaker 4: Trump will use tariffs in order to make sure that
Speaker 4: trade is reciprocal and fair, fair for the United States,
Speaker 4: fair for US businesses, and fair for the US worker,
Speaker 4: And that's really important.
Speaker 3: He also thinks the dollars too strong. Do you think
Speaker 3: we have a currency problem?
Speaker 4: Well, I think the first issue we have with our
Speaker 4: currency reflect the lack of strength, the weakness that the
Speaker 4: Biden Harris administration has projected economically around the world. And
Speaker 4: a weak America invites a strong China, and China has
Speaker 4: moved right in around the world economically, and all of
Speaker 4: a sudden you hear once again all of these threats
Speaker 4: that the dollar will not will not play the role
Speaker 4: that it has internationally going forward that it has historically.
Speaker 4: That's a real challenge to the US and it's a
Speaker 4: real challenge to our economic future.
Speaker 3: So I think that.
Speaker 4: Part of the reason why the electorate in Virginia around
Speaker 4: the country are excited about President Trump coming back into
Speaker 4: office is strength, economic strength, national security, strength, border strength.
Speaker 3: They're tired of a week America. They want a strong America.
Speaker 2: But how do you think he actually fixes that dollar problem.
Speaker 4: Well, first of all, having an economy that actually works.
Speaker 2: But that might mean a stronger US doll Like a
Speaker 2: lot of people are looking at what these potential policies
Speaker 2: could be, especially protections trade policies, and they would say,
Speaker 2: looks like it's going to be a strong dollar. Well,
Speaker 2: I need to get treasury, need to you know, maybe
Speaker 2: buy other foreign currency.
Speaker 3: Well let's go back to core basics.
Speaker 4: A strong US economy that does not have runaway inflation,
Speaker 4: which is what the Biden Harris administration unleashed on America.
Speaker 3: Unprecedented inflation. We have seen it for decades.
Speaker 4: That drives a dollar up because interest rates have to follow.
Speaker 4: And Jay Pous done a really good job combating inflation.
Speaker 3: Let's be real. The beginning of the year there is huge.
Speaker 4: Pressure for five rate cuts, and of course inflation was
Speaker 4: nowhere near contained, and he's done a really good job
Speaker 4: maintaining discipline. We've got to get inflation down that make
Speaker 4: sure that it is, and then rates will come down
Speaker 4: and rates will drive the currency. And that's a strong,
Speaker 4: high growth, low inflation economy that is not allowing inflation
Speaker 4: to drive too strong a dollar.
Speaker 2: Well, you said earlier than market was expecting five.
Speaker 3: Now the market inspects.
Speaker 2: One or two to one of them likely before the
Speaker 2: US election. Do you think Jay Powell, if he is
Speaker 2: to cut rates for US election, is being political.
Speaker 3: No, I don't. I think Jay is doing his job.
Speaker 3: And as we have seen.
Speaker 4: That the Biden economy really falter, Jay's going to react
Speaker 4: and he's going to do what he needs to do.
Speaker 4: And so no, Jay's not political at all. Jay's doing
Speaker 4: a great job.
Speaker 3: Jd.
Speaker 2: Vance is the VP pick. I want to give you
Speaker 2: a quote of what he put on his campaign website,
Speaker 2: black and White before he ran for the Senate.
Speaker 3: We're going to.
Speaker 2: Raise taxes on companies that ship jobs overseas and use
Speaker 2: their money to fund anti American radical movements. Does corporate
Speaker 2: America have a place in this Republican Party.
Speaker 4: Well, first of all, let me begin with JD's nomination.
Speaker 4: I think he's going to be a great running mate
Speaker 4: for the president, and I think he's going to do
Speaker 4: a great job as vice president. And let's be clear,
Speaker 4: it is Donald Trump's agenda, and Donald Trump is going
Speaker 4: to set the agenda on the future of our economy
Speaker 4: and how we are going to build a rip roaring
Speaker 4: economy just like the one we had in his previous administration.
Speaker 4: And yes, the business community clearly is excited about this. Listen,
Speaker 4: the stock market ran away over the last few days
Speaker 4: as it's become more clear that Trump is leading and
Speaker 4: has a better than likely chance of being elected as president.
Speaker 4: I also think it reflects the catastrophe that Joe Biden
Speaker 4: has been over the last couple of weeks coming out
Speaker 4: of the debate for the Democratic Party. I mean, there's
Speaker 4: chaos on their side and wall streets and the markets
Speaker 4: and business seem to really support this.
Speaker 3: Because the market's running away.
Speaker 4: That's really exciting, I think for the opportunity to build
Speaker 4: a strong economy, a strong America, and to put us
Speaker 4: back where we belong, which is leading as opposed to
Speaker 4: really defending weakness all the time.
Speaker 2: Besides Elon Musk, this week, though no Fortune, one hundred
Speaker 2: CEO has come out and publicly linked themselves to back
Speaker 2: former president in donations.
Speaker 3: Do you think that's a.
Speaker 4: Problem, Well, let's just start with Elon Musk. And you
Speaker 4: can't just dismiss Elon Musk. This week he made an
Speaker 4: enormous statement one hundred.
Speaker 1: There's ninety nine others one one hundred and eighty million
Speaker 1: dollars in order to support grassroots ground game efforts to
Speaker 1: elect Donald Trump in seven battleground states.
Speaker 3: I mean, this is a giant statement.
Speaker 4: And I think we'll see over the course of the
Speaker 4: next three and a half months as it becomes very
Speaker 4: clear that the momentum that we're seeing today can be maintained.
Speaker 3: That the business community does want.
Speaker 4: A strong economy, they want a strong leader in Washington,
Speaker 4: they want America to be strong overseas, they want a
Speaker 4: secure border.
Speaker 3: We need to combat China, not not play ca China.
Speaker 3: And this is what Donald Trump's going to represent, and
Speaker 3: this is why I think American business will be very
Speaker 3: pleased to have him back as president.
Speaker 2: He spoke to Trump before you gave your speech at
Speaker 2: the R and C at the Convention Center. What did
Speaker 2: he say to you?
Speaker 3: Well, I called him on Sunday after the assassination attempt.
Speaker 3: And let's just be clear here.
Speaker 4: He was millimeters away from a very different Sunday than
Speaker 4: what we had. And I do think thank God for
Speaker 4: his presence there because evil was unleashed in Pennsylvania.
Speaker 3: And he said that he was changing his speech, and
Speaker 3: he said he.
Speaker 4: Was encouraging everyone else to do the exact same thing,
Speaker 4: to really reflect on unity, unity in the Republican Party
Speaker 4: and unity across America. And this is the opportunity we have,
Speaker 4: which is to bring people together around a common vision,
Speaker 4: a common vision that unleashes the land of opportunity once again,
Speaker 4: as opposed to one where the most Americans have been
Speaker 4: so concerned economically, can they write the tuition check?
Speaker 3: Can they retire?
Speaker 4: As runaway inflation has really eroded so much of their
Speaker 4: hard work.
Speaker 2: Inflation has come down, but certainly it is top of
Speaker 2: mind for a lot of American voters.
Speaker 3: Wrote was price, We've got to be real.
Speaker 4: Inflation has come down from highs that were unprecedented, and
Speaker 4: it is the cumulative effect of inflation that has made
Speaker 4: prices so high. Grocery prices up thirty percent, gas up
Speaker 4: forty percent. For the average American family, this is really,
Speaker 4: really tough, and prices aren't going down, they're just going
Speaker 4: up less less quickly.
Speaker 2: That's correct, Glenn Youngkin, thank you so much for your time.
Speaker 2: That was, of course, the governor from Virginia, Glen Youngkin,
Speaker 2: who Donald Trump says his prime time.
Speaker 3: And would love him.
Speaker 2: Jonathan and his administration