WEBVTT - Virginia Gov. Glenn Youngkin Talks Trump

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<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news.

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<v Speaker 2>Donald Trump has called him prime Time. It's the governor

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<v Speaker 2>from Virginia, Glen Younkin, thank you for joining me here

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<v Speaker 2>at Milwaukee.

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<v Speaker 3>Good morning. You know.

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<v Speaker 4>I have to say that the Republican National Convention, as

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<v Speaker 4>we move into day three, has been a real statement.

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<v Speaker 4>It's been in a statement about coming together in excitement.

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<v Speaker 4>And when President Trump came into the arena on Monday

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<v Speaker 4>night and it's the first time that everyone had really

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<v Speaker 4>seen him since the assassination attempt, the place erupted and

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<v Speaker 4>it was emotional, and I think it does represent not

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<v Speaker 4>only confidence in the America that he built last time,

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<v Speaker 4>but the one he can build again.

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<v Speaker 3>So would you go work for.

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<v Speaker 2>Him because he says he'd love to have you on

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<v Speaker 2>the team.

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<v Speaker 4>Well, it's an incredibly humbling sentiment. Let's be serious right now.

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<v Speaker 4>The job is to win, and Virginia's in play, which

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<v Speaker 4>is amazing to say. Joe Biden won Virginia by ten

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<v Speaker 4>points last time, and then we came back in one

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<v Speaker 4>two the next year and all the polls have Virginia

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<v Speaker 4>locked up tight. So I'm going to go to work

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<v Speaker 4>to one be a great governor in Virginia and then,

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<v Speaker 4>second of all, make sure that we do everything we

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<v Speaker 4>can for Donald Trump to win.

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<v Speaker 2>So is there a sense if you flip Virginia and

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<v Speaker 2>it goes red, you would join this administration?

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<v Speaker 3>If you were asked to serve your.

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<v Speaker 2>Country under President Donald Trump, would you join?

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<v Speaker 3>There are so many ifs there. Let's just start with

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<v Speaker 3>the work at hand.

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<v Speaker 4>And I'm a pretty basic businessman who's become a governor,

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<v Speaker 4>which is set objectives and let's go meet them.

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<v Speaker 3>And we set the objectives.

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<v Speaker 4>In Virginia to turn around Virginia's job growth and economy.

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<v Speaker 4>And we've used all of the tools that we know work.

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<v Speaker 4>We have had five billion dollars of tax relief, we've

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<v Speaker 4>streamlined regulations in a big way.

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<v Speaker 3>We've built a great.

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<v Speaker 4>Workforce, and we've invested in our infrastructure. And you know,

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<v Speaker 4>we were just ranked the top place for business. And

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<v Speaker 4>that's because we really are the top place for business.

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<v Speaker 4>So my job's really straightforward. Set objectives, let's go meet them.

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<v Speaker 4>One of our objectives is to make sure that our

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<v Speaker 4>congressional candidates win in Virginia, that we extend our majority

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<v Speaker 4>in Washington, and to help Donald Trump win Virginia.

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<v Speaker 2>You mentioned your business at community. You are part of

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<v Speaker 2>the business world, a head of Carlisle. What I was

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<v Speaker 2>hearing is that a lot of individuals on Wall Street

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<v Speaker 2>well calling the former president, asking him to pick someone

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<v Speaker 2>like you.

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<v Speaker 3>And setting him with JD.

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<v Speaker 2>Vance, someone that sometimes unnerves Wall Street. He's a protectionist individual,

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<v Speaker 2>he's a populist. He's calling for tariffs. One of your

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<v Speaker 2>biggest importers coming from China, how do you think Virginia

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<v Speaker 2>would handle, say, sixty percent tariffs on China and a

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<v Speaker 2>ten percent tariff ring around the United States.

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<v Speaker 3>Let's first back up.

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<v Speaker 4>I think one of the things that President Trump has

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<v Speaker 4>been clear about and we know in the business community,

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<v Speaker 4>is that free trade really doesn't exist because we've given

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<v Speaker 4>unfettered access to the US market, and so many other

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<v Speaker 4>countries actually don't provide reciprocal access to their markets. And

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<v Speaker 4>let's be clear, US companies do not have access on

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<v Speaker 4>an unfettered basis to the Chinese market, and yet they

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<v Speaker 4>expect to have unfettered access to the US market. And

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<v Speaker 4>so we've got to stand up strong for the United States.

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<v Speaker 4>On top of that, China is not just a rival.

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<v Speaker 4>They're trying to dominate the world and they're trying to

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<v Speaker 4>do it at the expense of the United States. They

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<v Speaker 4>use economic imperialism to do it, They saber rattle, and

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<v Speaker 4>on top of that, they use every ounce to infiltrate

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<v Speaker 4>every bit of the US economy to understand.

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<v Speaker 3>How they can influence it.

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<v Speaker 4>What that has translated to is a real recognition that

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<v Speaker 4>we need to not only protect ourselves against China, but

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<v Speaker 4>we need to fight back. And so the tariffs that

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<v Speaker 4>President Trump imposed on China when he struck the first

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<v Speaker 4>Chinese Deal, we're critical in order to rebalance an unbalanced

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<v Speaker 4>situation with China and companies that are doing business in China.

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<v Speaker 4>Take Ford for example. I mean, here's Ford, who has

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<v Speaker 4>a big market share in China, and then they want

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<v Speaker 4>to build an electric vehicle battery plant in the United States.

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<v Speaker 4>And I can guarantee you that the Chinese government put

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<v Speaker 4>immense pressure on them to use cattle technology in.

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<v Speaker 3>The United States. And now we're seeing.

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<v Speaker 4>That cattle technology is being banned by the US military

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<v Speaker 4>because they're worried about the influence from the Chinese Communist Party.

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<v Speaker 4>I mean, this is the way China does business, and

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<v Speaker 4>we've got to make sure that we are.

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<v Speaker 3>We're fighting back.

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<v Speaker 2>Most economists those say tariffs are inflationary. So do you

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<v Speaker 2>think that's the right solution to this problem? You don't

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<v Speaker 2>think is currently free trade on the marketplace?

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<v Speaker 4>Yeah, I do have to begin with I have lots

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<v Speaker 4>of economist friends and work with them for a long time.

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<v Speaker 3>And the economists aconomists are.

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<v Speaker 2>One hundred dollars per every household. They ran all the numbers.

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<v Speaker 4>Well, I know, people ran lots of numbers at the

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<v Speaker 4>beginning of the year and said there's gonna be five

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<v Speaker 4>rate cuts this year in the United States.

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<v Speaker 3>Come on, let's be real.

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<v Speaker 4>At the end of the day, I believe that President

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<v Speaker 4>Trump will use tariffs in order to make sure that

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<v Speaker 4>trade is reciprocal and fair, fair for the United States,

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<v Speaker 4>fair for US businesses, and fair for the US worker,

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<v Speaker 4>And that's really important.

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<v Speaker 3>He also thinks the dollars too strong. Do you think

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<v Speaker 3>we have a currency problem?

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<v Speaker 4>Well, I think the first issue we have with our

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<v Speaker 4>currency reflect the lack of strength, the weakness that the

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<v Speaker 4>Biden Harris administration has projected economically around the world. And

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<v Speaker 4>a weak America invites a strong China, and China has

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<v Speaker 4>moved right in around the world economically, and all of

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<v Speaker 4>a sudden you hear once again all of these threats

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<v Speaker 4>that the dollar will not will not play the role

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<v Speaker 4>that it has internationally going forward that it has historically.

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<v Speaker 4>That's a real challenge to the US and it's a

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<v Speaker 4>real challenge to our economic future.

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<v Speaker 3>So I think that.

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<v Speaker 4>Part of the reason why the electorate in Virginia around

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<v Speaker 4>the country are excited about President Trump coming back into

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<v Speaker 4>office is strength, economic strength, national security, strength, border strength.

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<v Speaker 3>They're tired of a week America. They want a strong America.

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<v Speaker 2>But how do you think he actually fixes that dollar problem.

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<v Speaker 4>Well, first of all, having an economy that actually works.

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<v Speaker 2>But that might mean a stronger US doll Like a

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<v Speaker 2>lot of people are looking at what these potential policies

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<v Speaker 2>could be, especially protections trade policies, and they would say,

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<v Speaker 2>looks like it's going to be a strong dollar. Well,

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<v Speaker 2>I need to get treasury, need to you know, maybe

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<v Speaker 2>buy other foreign currency.

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<v Speaker 3>Well let's go back to core basics.

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<v Speaker 4>A strong US economy that does not have runaway inflation,

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<v Speaker 4>which is what the Biden Harris administration unleashed on America.

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<v Speaker 3>Unprecedented inflation. We have seen it for decades.

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<v Speaker 4>That drives a dollar up because interest rates have to follow.

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<v Speaker 4>And Jay Pous done a really good job combating inflation.

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<v Speaker 3>Let's be real. The beginning of the year there is huge.

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<v Speaker 4>Pressure for five rate cuts, and of course inflation was

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<v Speaker 4>nowhere near contained, and he's done a really good job

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<v Speaker 4>maintaining discipline. We've got to get inflation down that make

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<v Speaker 4>sure that it is, and then rates will come down

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<v Speaker 4>and rates will drive the currency. And that's a strong,

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<v Speaker 4>high growth, low inflation economy that is not allowing inflation

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<v Speaker 4>to drive too strong a dollar.

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<v Speaker 2>Well, you said earlier than market was expecting five.

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<v Speaker 3>Now the market inspects.

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<v Speaker 2>One or two to one of them likely before the

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<v Speaker 2>US election. Do you think Jay Powell, if he is

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<v Speaker 2>to cut rates for US election, is being political.

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<v Speaker 3>No, I don't. I think Jay is doing his job.

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<v Speaker 3>And as we have seen.

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<v Speaker 4>That the Biden economy really falter, Jay's going to react

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<v Speaker 4>and he's going to do what he needs to do.

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<v Speaker 4>And so no, Jay's not political at all. Jay's doing

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<v Speaker 4>a great job.

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<v Speaker 3>Jd.

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<v Speaker 2>Vance is the VP pick. I want to give you

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<v Speaker 2>a quote of what he put on his campaign website,

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<v Speaker 2>black and White before he ran for the Senate.

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<v Speaker 3>We're going to.

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<v Speaker 2>Raise taxes on companies that ship jobs overseas and use

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<v Speaker 2>their money to fund anti American radical movements. Does corporate

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<v Speaker 2>America have a place in this Republican Party.

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<v Speaker 4>Well, first of all, let me begin with JD's nomination.

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<v Speaker 4>I think he's going to be a great running mate

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<v Speaker 4>for the president, and I think he's going to do

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<v Speaker 4>a great job as vice president. And let's be clear,

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<v Speaker 4>it is Donald Trump's agenda, and Donald Trump is going

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<v Speaker 4>to set the agenda on the future of our economy

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<v Speaker 4>and how we are going to build a rip roaring

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<v Speaker 4>economy just like the one we had in his previous administration.

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<v Speaker 4>And yes, the business community clearly is excited about this. Listen,

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<v Speaker 4>the stock market ran away over the last few days

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<v Speaker 4>as it's become more clear that Trump is leading and

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<v Speaker 4>has a better than likely chance of being elected as president.

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<v Speaker 4>I also think it reflects the catastrophe that Joe Biden

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<v Speaker 4>has been over the last couple of weeks coming out

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<v Speaker 4>of the debate for the Democratic Party. I mean, there's

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<v Speaker 4>chaos on their side and wall streets and the markets

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<v Speaker 4>and business seem to really support this.

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<v Speaker 3>Because the market's running away.

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<v Speaker 4>That's really exciting, I think for the opportunity to build

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<v Speaker 4>a strong economy, a strong America, and to put us

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<v Speaker 4>back where we belong, which is leading as opposed to

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<v Speaker 4>really defending weakness all the time.

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<v Speaker 2>Besides Elon Musk, this week, though no Fortune, one hundred

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<v Speaker 2>CEO has come out and publicly linked themselves to back

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<v Speaker 2>former president in donations.

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<v Speaker 3>Do you think that's a.

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<v Speaker 4>Problem, Well, let's just start with Elon Musk. And you

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<v Speaker 4>can't just dismiss Elon Musk. This week he made an

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<v Speaker 4>enormous statement one hundred.

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<v Speaker 1>There's ninety nine others one one hundred and eighty million

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<v Speaker 1>dollars in order to support grassroots ground game efforts to

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<v Speaker 1>elect Donald Trump in seven battleground states.

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<v Speaker 3>I mean, this is a giant statement.

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<v Speaker 4>And I think we'll see over the course of the

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<v Speaker 4>next three and a half months as it becomes very

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<v Speaker 4>clear that the momentum that we're seeing today can be maintained.

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<v Speaker 3>That the business community does want.

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<v Speaker 4>A strong economy, they want a strong leader in Washington,

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<v Speaker 4>they want America to be strong overseas, they want a

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<v Speaker 4>secure border.

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<v Speaker 3>We need to combat China, not not play ca China.

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<v Speaker 3>And this is what Donald Trump's going to represent, and

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<v Speaker 3>this is why I think American business will be very

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<v Speaker 3>pleased to have him back as president.

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<v Speaker 2>He spoke to Trump before you gave your speech at

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<v Speaker 2>the R and C at the Convention Center. What did

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<v Speaker 2>he say to you?

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<v Speaker 3>Well, I called him on Sunday after the assassination attempt.

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<v Speaker 3>And let's just be clear here.

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<v Speaker 4>He was millimeters away from a very different Sunday than

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<v Speaker 4>what we had. And I do think thank God for

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<v Speaker 4>his presence there because evil was unleashed in Pennsylvania.

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<v Speaker 3>And he said that he was changing his speech, and

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<v Speaker 3>he said he.

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<v Speaker 4>Was encouraging everyone else to do the exact same thing,

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<v Speaker 4>to really reflect on unity, unity in the Republican Party

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<v Speaker 4>and unity across America. And this is the opportunity we have,

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<v Speaker 4>which is to bring people together around a common vision,

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<v Speaker 4>a common vision that unleashes the land of opportunity once again,

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<v Speaker 4>as opposed to one where the most Americans have been

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<v Speaker 4>so concerned economically, can they write the tuition check?

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<v Speaker 3>Can they retire?

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<v Speaker 4>As runaway inflation has really eroded so much of their

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<v Speaker 4>hard work.

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<v Speaker 2>Inflation has come down, but certainly it is top of

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<v Speaker 2>mind for a lot of American voters.

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<v Speaker 3>Wrote was price, We've got to be real.

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<v Speaker 4>Inflation has come down from highs that were unprecedented, and

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<v Speaker 4>it is the cumulative effect of inflation that has made

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<v Speaker 4>prices so high. Grocery prices up thirty percent, gas up

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<v Speaker 4>forty percent. For the average American family, this is really,

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<v Speaker 4>really tough, and prices aren't going down, they're just going

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<v Speaker 4>up less less quickly.

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<v Speaker 2>That's correct, Glenn Youngkin, thank you so much for your time.

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<v Speaker 2>That was, of course, the governor from Virginia, Glen Youngkin,

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<v Speaker 2>who Donald Trump says his prime time.

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<v Speaker 3>And would love him.

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<v Speaker 2>Jonathan and his administration