1 00:00:00,440 --> 00:00:04,040 Speaker 1: Cline from our nation's capital government. What are the political 2 00:00:04,040 --> 00:00:06,880 Speaker 1: reality The President has been increasingly frustrated. I want to 3 00:00:06,880 --> 00:00:09,480 Speaker 1: try to cut through the noise politically. This is devastating 4 00:00:09,640 --> 00:00:15,800 Speaker 1: sounds the influencers, the insiders. It is no secret that 5 00:00:15,840 --> 00:00:18,439 Speaker 1: I care a lot about the consumers. There are real 6 00:00:18,600 --> 00:00:21,840 Speaker 1: questions about mid tech. We still have more leverage teams 7 00:00:21,880 --> 00:00:23,560 Speaker 1: with the tariffs. I think we can do with a 8 00:00:23,600 --> 00:00:26,840 Speaker 1: little less drama from the White op is sound on 9 00:00:27,080 --> 00:00:33,160 Speaker 1: with Kevins Relate on Bloomberg Radio. Greetings from Vietnam, where 10 00:00:33,159 --> 00:00:37,720 Speaker 1: I'm located at the Gallery Classy hotel in Hannoi, just 11 00:00:37,920 --> 00:00:42,080 Speaker 1: across the way from Juan Kim Lake in central Hanoi 12 00:00:42,200 --> 00:00:46,120 Speaker 1: to the west, North Korea leader Kim jongoon is staying 13 00:00:46,240 --> 00:00:50,519 Speaker 1: at the Melia Hotel, and even further west to him, 14 00:00:50,720 --> 00:00:53,760 Speaker 1: President Trump is staying tonight at the J W. Marriott. 15 00:00:53,800 --> 00:00:57,279 Speaker 1: Of course, this is the second summit we are awaiting 16 00:00:57,360 --> 00:01:00,800 Speaker 1: between President Trump and North Korea leader Kim Jong n 17 00:01:00,920 --> 00:01:05,560 Speaker 1: a d nuclearization summit, but the White House is downplaying 18 00:01:05,840 --> 00:01:10,840 Speaker 1: the odds of any major breakthroughs now just under twenty 19 00:01:10,840 --> 00:01:12,920 Speaker 1: four hours from now, they are going to head east 20 00:01:12,920 --> 00:01:16,920 Speaker 1: across town to the Marrapool Hotel where they're going to 21 00:01:17,000 --> 00:01:20,360 Speaker 1: have dinner, and then following that they come face to 22 00:01:20,520 --> 00:01:25,680 Speaker 1: face with their respective staffs to continue these d nuclearization talks. 23 00:01:25,800 --> 00:01:28,440 Speaker 1: Less than one year, one year, less than a year 24 00:01:28,959 --> 00:01:32,720 Speaker 1: for when they first gathered in Singapore for that first 25 00:01:33,040 --> 00:01:35,960 Speaker 1: historic summit. Joining me for the hour, Ship and Petty 26 00:01:36,000 --> 00:01:39,800 Speaker 1: Peace Bloomberg News White House reporter who's at our Washington studio, 27 00:01:39,880 --> 00:01:42,840 Speaker 1: and Brett Bruin, President of the Global Situation Room. He 28 00:01:42,920 --> 00:01:45,600 Speaker 1: joins us on the telephone. He's also a former White 29 00:01:45,600 --> 00:01:49,360 Speaker 1: House Director of Global Engagement. Shannon, I want to start 30 00:01:49,400 --> 00:01:53,000 Speaker 1: with you because lots of news today, but it truly 31 00:01:53,160 --> 00:01:56,880 Speaker 1: was remarkable to see the back and forth between President 32 00:01:56,920 --> 00:02:01,320 Speaker 1: Trump and Kim Jong n and the White House press pool. No, yes, 33 00:02:01,520 --> 00:02:04,240 Speaker 1: so the backstory on that, and Kevin maybe you had 34 00:02:04,240 --> 00:02:06,320 Speaker 1: some firsthand encounters with this, but when I could pick 35 00:02:06,400 --> 00:02:08,800 Speaker 1: up from all my colleagues over there, uh, the White 36 00:02:08,800 --> 00:02:12,240 Speaker 1: House Press Filing Center, so the place all the reporters 37 00:02:12,280 --> 00:02:15,280 Speaker 1: work out of was in the same hotel we believe 38 00:02:16,000 --> 00:02:18,520 Speaker 1: h as Kim Jong oon was staying, and there was 39 00:02:18,840 --> 00:02:22,800 Speaker 1: North Korean security officials all over, blocking off stairwells, rolling 40 00:02:22,840 --> 00:02:25,680 Speaker 1: out a red carpet in the lobby, and they didn't 41 00:02:25,720 --> 00:02:28,000 Speaker 1: seem to be thrilled with the idea that a bunch 42 00:02:28,040 --> 00:02:33,200 Speaker 1: of American journalists were there. This is wild and so 43 00:02:33,360 --> 00:02:35,160 Speaker 1: I haven't I haven't been able to get to what 44 00:02:35,240 --> 00:02:39,120 Speaker 1: actually happened. But long story short, they told the press, 45 00:02:39,160 --> 00:02:41,000 Speaker 1: the American press, that they were going to have to 46 00:02:41,040 --> 00:02:43,399 Speaker 1: move their workspace somewhere else. And this is the type 47 00:02:43,440 --> 00:02:48,840 Speaker 1: of thing that's planned weeks in advance. Then there's internet connection. Uh, 48 00:02:49,560 --> 00:02:52,959 Speaker 1: reporters st at this hotel. I hate to interrupt, Okay, 49 00:02:52,960 --> 00:02:54,919 Speaker 1: So we get here. It's like it takes a day 50 00:02:54,919 --> 00:02:56,720 Speaker 1: and a half to get here. And mind you, any 51 00:02:56,760 --> 00:02:59,080 Speaker 1: reporter who's complaining about just how long it took to 52 00:02:59,160 --> 00:03:03,160 Speaker 1: get to Annoy. Kim Jong Nun took a sixty hour 53 00:03:03,520 --> 00:03:06,640 Speaker 1: train through China. The Chinese helped arrange the sixty hours 54 00:03:06,639 --> 00:03:08,320 Speaker 1: on the train. What do you do? What Netflix do 55 00:03:08,360 --> 00:03:11,960 Speaker 1: you watch on that train that got stuck in Oregon? 56 00:03:12,040 --> 00:03:16,520 Speaker 1: But yes, well touche. So he's on this train sixty 57 00:03:16,520 --> 00:03:19,760 Speaker 1: hours worth. He arrives in northern Vietnam and then takes 58 00:03:19,760 --> 00:03:21,840 Speaker 1: like a like a motor cade of sorts to get 59 00:03:21,919 --> 00:03:27,280 Speaker 1: down here. He shows up at the Melia Hotel, Melia Hotel, 60 00:03:27,600 --> 00:03:31,000 Speaker 1: the Melia Hotel where our colleagues market tale our our 61 00:03:31,040 --> 00:03:33,160 Speaker 1: white house reporter who's over here traveling with the president 62 00:03:33,200 --> 00:03:37,280 Speaker 1: as well. Uh, we're staying and meanwhile we're all at 63 00:03:37,320 --> 00:03:40,080 Speaker 1: the International Press Center and I'm and I'm looking around 64 00:03:40,080 --> 00:03:43,000 Speaker 1: at our producer and I'm saying, like, what is going on? 65 00:03:43,440 --> 00:03:46,320 Speaker 1: It turns out Kim Jong Nun then goes to the 66 00:03:46,440 --> 00:03:52,080 Speaker 1: Vietnamese embassy to complain, to complain about how they were 67 00:03:52,080 --> 00:03:55,400 Speaker 1: white house press poolers staying in that hotel. What then 68 00:03:55,480 --> 00:03:59,720 Speaker 1: proceeded was, well, our colleagues had to change their travel plants. 69 00:03:59,720 --> 00:04:01,720 Speaker 1: It is remarkable because it sounds like a lot of 70 00:04:01,760 --> 00:04:05,000 Speaker 1: back and forth, particularly when we're talking about de nuclearization. 71 00:04:05,360 --> 00:04:08,400 Speaker 1: But to your point, Shannon, it really does show just 72 00:04:08,560 --> 00:04:12,920 Speaker 1: how confused, for lack of a better term, this particular 73 00:04:13,000 --> 00:04:16,560 Speaker 1: summit is off to, particularly when the last one in 74 00:04:16,560 --> 00:04:20,480 Speaker 1: Singapore was so well organized, right, And it speaks to so, 75 00:04:20,720 --> 00:04:22,480 Speaker 1: I mean, we as reporters, we cover a lot of 76 00:04:22,520 --> 00:04:25,359 Speaker 1: these world summits where leaders come together, whether it's the 77 00:04:25,400 --> 00:04:28,400 Speaker 1: G twenty or the presidents, and you know, in Paris 78 00:04:28,400 --> 00:04:30,720 Speaker 1: for an event. Uh, this is almost a routine thing. 79 00:04:30,760 --> 00:04:33,360 Speaker 1: The White House has an entire staff and advanced staff 80 00:04:33,440 --> 00:04:37,200 Speaker 1: that plans these things weeks months in advance. Uh. And 81 00:04:37,240 --> 00:04:39,440 Speaker 1: it's just a reminder that Kim Jong oon and North 82 00:04:39,520 --> 00:04:43,120 Speaker 1: Korea have not been operating in this world of international 83 00:04:43,200 --> 00:04:47,240 Speaker 1: summits and reporters and conferences. This is all completely new 84 00:04:47,279 --> 00:04:50,480 Speaker 1: for them. So yes, I can understand that possibly they 85 00:04:50,560 --> 00:04:54,880 Speaker 1: didn't have the staffing to project that, oh, well, where 86 00:04:54,920 --> 00:04:57,560 Speaker 1: is the US press filing center going to be? Um? 87 00:04:57,600 --> 00:05:00,080 Speaker 1: But yeah, it just shows you sort of how you 88 00:05:00,240 --> 00:05:03,120 Speaker 1: they are sort of infants to this world of diplomacy 89 00:05:03,160 --> 00:05:06,360 Speaker 1: and big, major international summit. Shinnon, Petty Peace, Bloomberg News 90 00:05:06,440 --> 00:05:09,280 Speaker 1: White House Reporter, our guests back in Washington, d C. 91 00:05:09,480 --> 00:05:13,040 Speaker 1: I'm broadcasting from the rooftop of the Oh Gallery, classy 92 00:05:13,080 --> 00:05:17,120 Speaker 1: hotel in Central Hannoy, overlooking the Juan Qim Lake in 93 00:05:17,200 --> 00:05:21,240 Speaker 1: Central Hannoy. Beautiful, beautiful lake. It's a misty morning here, 94 00:05:21,360 --> 00:05:24,839 Speaker 1: five o'clock in the morning. As we reported, President Trump 95 00:05:24,839 --> 00:05:27,360 Speaker 1: as well as North Korea leader Kim Jong nun are 96 00:05:27,360 --> 00:05:30,640 Speaker 1: going to be having dinner. Brett Bruin also joins us. 97 00:05:30,680 --> 00:05:34,400 Speaker 1: He's on the telephone. He's president of the Global Situation 98 00:05:34,480 --> 00:05:38,040 Speaker 1: Room and a former White House Director of Global Engagement 99 00:05:38,080 --> 00:05:40,359 Speaker 1: as well as an next diplomat, Brett, thank you for 100 00:05:40,520 --> 00:05:45,039 Speaker 1: coming on. What message does it send that the White 101 00:05:45,040 --> 00:05:48,840 Speaker 1: House press pool was shifted over to different hotels and 102 00:05:49,000 --> 00:05:50,800 Speaker 1: and Kim Jong un got to stay where he wanted. 103 00:05:51,400 --> 00:05:54,800 Speaker 1: I think it's an illustrative of a lack of attention 104 00:05:54,800 --> 00:05:57,760 Speaker 1: to details, and not just in the advance work. And this, 105 00:05:58,080 --> 00:06:00,960 Speaker 1: let's be clear, this is a major fail for White 106 00:06:00,960 --> 00:06:03,960 Speaker 1: House advance. These are the kinds of things that you 107 00:06:04,120 --> 00:06:07,400 Speaker 1: have a checklist for. I've sat through these meetings. You 108 00:06:07,520 --> 00:06:12,000 Speaker 1: go over every day multiple times. What are the plans 109 00:06:12,000 --> 00:06:14,599 Speaker 1: for our delegation, What are the plans for the other side. 110 00:06:14,839 --> 00:06:18,039 Speaker 1: I don't see how they missed this. And this is 111 00:06:18,080 --> 00:06:20,680 Speaker 1: just one of those things that gets a conference off 112 00:06:20,720 --> 00:06:25,159 Speaker 1: to a bad start. It's particularly problematic because it's the 113 00:06:25,200 --> 00:06:28,040 Speaker 1: press core. The press cored that you want to project 114 00:06:28,040 --> 00:06:31,719 Speaker 1: a positive message to the world, and you've just upended 115 00:06:31,760 --> 00:06:34,880 Speaker 1: their coverage, You've upended their live shots, and they're they're 116 00:06:34,960 --> 00:06:38,359 Speaker 1: filing center. So all of this um is does not 117 00:06:38,480 --> 00:06:40,560 Speaker 1: bode well for how the summit is going to go. 118 00:06:40,839 --> 00:06:43,599 Speaker 1: But if I can pull that threat a little bit more, 119 00:06:43,640 --> 00:06:46,960 Speaker 1: I would say it also doesn't bode well to the 120 00:06:47,240 --> 00:06:51,600 Speaker 1: level of attention to detail that this administration is paying 121 00:06:51,720 --> 00:06:53,719 Speaker 1: to what's going to come out of this summit. And 122 00:06:53,760 --> 00:06:57,240 Speaker 1: it's been a criticism of the last summit. It's certainly 123 00:06:57,640 --> 00:07:00,440 Speaker 1: in the lead up to this one a major insurn 124 00:07:00,560 --> 00:07:04,480 Speaker 1: for foreign policy wants who who fear that we're going 125 00:07:04,520 --> 00:07:07,640 Speaker 1: to have a feel good agreement, but the devil is 126 00:07:07,680 --> 00:07:09,600 Speaker 1: really going to be in the details, and that's not 127 00:07:09,680 --> 00:07:12,600 Speaker 1: this administration specialty. I want to talk about those details 128 00:07:12,600 --> 00:07:15,400 Speaker 1: with Brett Beruin, President of the Global Situation Room, But 129 00:07:15,520 --> 00:07:18,360 Speaker 1: first I want to play a bit from a bite 130 00:07:18,440 --> 00:07:21,520 Speaker 1: rather from President Trump where when he was traveling over 131 00:07:21,560 --> 00:07:24,160 Speaker 1: here about what he expects to happen at this summit 132 00:07:24,240 --> 00:07:26,800 Speaker 1: now just over a day away. Take a listen, and 133 00:07:26,880 --> 00:07:31,360 Speaker 1: we talked about something that frankly, he never spoke to 134 00:07:31,360 --> 00:07:33,760 Speaker 1: anybody about. But we're speaking, and we're speaking aloud, and 135 00:07:33,800 --> 00:07:35,840 Speaker 1: I think we can have a very good, a very 136 00:07:35,840 --> 00:07:40,400 Speaker 1: good summit. Brett, I haven't spoken to one source, either 137 00:07:40,560 --> 00:07:44,280 Speaker 1: a nuke expert or a diplomatic expert here in Vietnam 138 00:07:44,560 --> 00:07:47,520 Speaker 1: or back in the US and preparing for this trip, 139 00:07:47,560 --> 00:07:50,200 Speaker 1: who says that Kim Jong un is just going to say, 140 00:07:50,240 --> 00:07:52,480 Speaker 1: all right, no more nukes. So what what are some 141 00:07:52,520 --> 00:07:57,280 Speaker 1: realistic outcomes that we can anticipate here? Uh in Hanoi. 142 00:07:58,080 --> 00:08:02,080 Speaker 1: I think the ideal out um where the Trump administration 143 00:08:02,560 --> 00:08:07,520 Speaker 1: is a timeline one where Kim Jong n is saying, okay, 144 00:08:07,720 --> 00:08:12,240 Speaker 1: I agree in principle to de nuclearization. It's um a 145 00:08:12,280 --> 00:08:15,120 Speaker 1: couple of years off. In the interim, I'll provide you 146 00:08:15,160 --> 00:08:18,560 Speaker 1: with an inventory of my nuclear weapons, of the sites 147 00:08:18,640 --> 00:08:20,960 Speaker 1: where we've been doing this research. I'll open up to 148 00:08:21,080 --> 00:08:25,400 Speaker 1: inspections and in exchange it. At every step along that way, 149 00:08:25,480 --> 00:08:28,920 Speaker 1: I get more. I get a reduction in sanctions. Perhaps 150 00:08:28,960 --> 00:08:33,040 Speaker 1: I get investment or some of the other economic opportunities 151 00:08:33,080 --> 00:08:35,480 Speaker 1: that Trump has been dangling in front of him. But 152 00:08:35,679 --> 00:08:39,800 Speaker 1: that's in an ideal world. What will come out of here? 153 00:08:40,240 --> 00:08:42,720 Speaker 1: What I fear is we're going to see something that 154 00:08:43,080 --> 00:08:46,320 Speaker 1: is probably similar to the love letters that Kim Jong 155 00:08:46,440 --> 00:08:50,520 Speaker 1: n has been sending to Donald Trump. Very flowery, very 156 00:08:50,640 --> 00:08:55,040 Speaker 1: um grandiose in in some of the ambition, but very 157 00:08:55,320 --> 00:08:59,120 Speaker 1: um scant in terms of the details and in terms 158 00:08:59,200 --> 00:09:03,840 Speaker 1: of how we actually get to advance towards anything close 159 00:09:03,880 --> 00:09:06,400 Speaker 1: to the new cleversation. You know, it's been fascinating to 160 00:09:06,559 --> 00:09:09,679 Speaker 1: watch all throughout the past twenty four hours. I'll be honest, 161 00:09:09,720 --> 00:09:11,199 Speaker 1: I don't even know what time zone I'm in at 162 00:09:11,200 --> 00:09:14,959 Speaker 1: this point, following all of the travel and the flight 163 00:09:15,000 --> 00:09:18,280 Speaker 1: over to get here. But it's been fascinating to watch 164 00:09:18,360 --> 00:09:23,240 Speaker 1: the local press here in Hanoi really just latch onto 165 00:09:23,240 --> 00:09:27,360 Speaker 1: the business community here and to really showcase Vietnam is 166 00:09:27,440 --> 00:09:32,560 Speaker 1: almost an illustration of what could be for North Korea. 167 00:09:32,640 --> 00:09:34,840 Speaker 1: And I think that's a lot of the imagery here 168 00:09:35,160 --> 00:09:38,440 Speaker 1: that is being projected not just back to the United States, 169 00:09:38,440 --> 00:09:41,920 Speaker 1: but also to pyong Yang. And when you think, for example, 170 00:09:41,960 --> 00:09:45,000 Speaker 1: of the rumors that Bloomberg has reported about maybe the 171 00:09:45,080 --> 00:09:51,160 Speaker 1: possibility of some representatives from the North Korea delegation visiting 172 00:09:51,280 --> 00:09:55,840 Speaker 1: a Samsung factory here, it almost would appear that there 173 00:09:55,880 --> 00:09:58,160 Speaker 1: that the US is and the Chinese to some extent, 174 00:09:58,200 --> 00:10:03,200 Speaker 1: are dangling. Uh this illustration of hey, North Korea, this 175 00:10:03,440 --> 00:10:08,400 Speaker 1: could be you, Shannon, It certainly is UM And the 176 00:10:08,440 --> 00:10:11,200 Speaker 1: President made some remarks. So he was speaking to governors 177 00:10:11,320 --> 00:10:14,120 Speaker 1: yesterday and he said that North Korea has the potential 178 00:10:14,160 --> 00:10:17,800 Speaker 1: to have record economic growth, economic growth unlike anybody has 179 00:10:17,840 --> 00:10:21,480 Speaker 1: seen UM. He's mentioned their beaches sort of what has 180 00:10:21,520 --> 00:10:23,480 Speaker 1: a sense of what a beautiful place this is. You 181 00:10:23,480 --> 00:10:27,040 Speaker 1: could have tourism here, um, but I mean, of course, realistically, 182 00:10:27,200 --> 00:10:30,760 Speaker 1: I mean that's such a long road and um, you know, 183 00:10:30,800 --> 00:10:32,800 Speaker 1: if you're trying to make that sales pitch, there's a 184 00:10:32,800 --> 00:10:35,319 Speaker 1: lot of ways things could go one way or another. 185 00:10:35,400 --> 00:10:39,640 Speaker 1: And yes, Vietnam, UH, you know, is a relatively prosperous 186 00:10:39,679 --> 00:10:43,120 Speaker 1: country for that region at this point. Um. In a 187 00:10:43,120 --> 00:10:46,600 Speaker 1: beautiful country with tourism and manufacturing there. But it's a 188 00:10:46,640 --> 00:10:50,440 Speaker 1: long road there, and um, there's no guarantees really. But yeah, 189 00:10:50,440 --> 00:10:53,160 Speaker 1: I mean I think that is certainly the attempt they're 190 00:10:53,160 --> 00:10:57,880 Speaker 1: trying to make to this younger European educated leader. Let 191 00:10:57,880 --> 00:10:59,960 Speaker 1: me tell you something. I haven't even been here twenty 192 00:11:00,000 --> 00:11:01,439 Speaker 1: for hours or I think we're coming up on the 193 00:11:01,480 --> 00:11:04,440 Speaker 1: two hour mark, and I can tell you Hannoi uh 194 00:11:04,760 --> 00:11:08,360 Speaker 1: is beautiful city, great food. If that's fun. I've had 195 00:11:08,400 --> 00:11:11,480 Speaker 1: like five cups of fuss since I've been here, and 196 00:11:11,600 --> 00:11:14,080 Speaker 1: UH and whatnot coming up. We're not just talking about 197 00:11:14,120 --> 00:11:17,880 Speaker 1: the economy in UH, in North Korea, but also the 198 00:11:17,960 --> 00:11:20,400 Speaker 1: U s economy. Fed share J. Powell testified in the 199 00:11:20,400 --> 00:11:25,080 Speaker 1: Senate and Congressman John Gara Mundy, a Democrat from California, 200 00:11:25,160 --> 00:11:28,880 Speaker 1: weighs in on that, plus the president's decision to declare 201 00:11:28,880 --> 00:11:31,960 Speaker 1: a national emergency, and oh yeah, all of the latest 202 00:11:32,000 --> 00:11:36,000 Speaker 1: from here on the ground in Hannoi, Vietnam. You can 203 00:11:36,040 --> 00:11:39,079 Speaker 1: download the sound On podcast on iTunes, at Bloomberg dot 204 00:11:39,120 --> 00:11:42,079 Speaker 1: com or by downloading the Bloomberg Business App. You can 205 00:11:42,120 --> 00:11:44,680 Speaker 1: also find us on Radio dot com and I Heart 206 00:11:44,760 --> 00:11:49,040 Speaker 1: Radio on Kevin Sorelli. You're listening to sound on. This 207 00:11:49,080 --> 00:12:02,160 Speaker 1: is Bloomberg Boom News twenty four hours a day at 208 00:12:02,200 --> 00:12:06,160 Speaker 1: Bloomberg dot com, the Bloomberg Business App, and TikTok on Twitter. 209 00:12:06,840 --> 00:12:09,640 Speaker 1: He's a Bloomberg business line, it is indeed. At seventeen 210 00:12:09,679 --> 00:12:12,000 Speaker 1: past the hour, I'm Doug Krisner live from the Bloomberg 211 00:12:12,080 --> 00:12:14,880 Speaker 1: Interactive Broker Studio in New York. We had weakness in 212 00:12:14,920 --> 00:12:18,720 Speaker 1: the equity market today after a fluctuation between gains and 213 00:12:18,800 --> 00:12:21,079 Speaker 1: losses through the session. In her day, the S and 214 00:12:21,120 --> 00:12:24,800 Speaker 1: P five hundred traded above hundred, but we failed to 215 00:12:24,840 --> 00:12:27,240 Speaker 1: hold that level, so we had the Dow losing about 216 00:12:27,280 --> 00:12:30,160 Speaker 1: one tenth of one percent. Similar declines for both the 217 00:12:30,320 --> 00:12:33,960 Speaker 1: SNP and the NASDAC composite fed share j Powell forecasting 218 00:12:34,040 --> 00:12:37,600 Speaker 1: solid growth for the American economy, however at a slower rate, 219 00:12:37,720 --> 00:12:41,679 Speaker 1: largely because of weaker global growth. The pound rallied one 220 00:12:41,760 --> 00:12:45,559 Speaker 1: percent against the dollar after British Prime Minister Theresa May 221 00:12:45,600 --> 00:12:49,760 Speaker 1: promised to vote to delay Brexit if her revised plan 222 00:12:49,920 --> 00:12:53,400 Speaker 1: on Brexit fails in parliament. In late New York trading 223 00:12:53,440 --> 00:12:56,480 Speaker 1: weight watchers down as much as sent after the company 224 00:12:56,520 --> 00:13:01,000 Speaker 1: posted a full year forecast well below ESTI. It's Japanese 225 00:13:01,160 --> 00:13:04,839 Speaker 1: en much stronger against the dollar here at one. That's 226 00:13:04,840 --> 00:13:06,920 Speaker 1: going to set us up for a week equity market 227 00:13:07,000 --> 00:13:09,960 Speaker 1: in Japan. At the top of the hour, US tenure 228 00:13:10,000 --> 00:13:13,000 Speaker 1: treasury last quoted at a yield of two point six three. 229 00:13:13,600 --> 00:13:16,040 Speaker 1: Let's get back to a special edition of Sound On 230 00:13:16,200 --> 00:13:20,240 Speaker 1: with Kevin Cirelli, live from Hannoi for the Trump Kim Summit. 231 00:13:21,040 --> 00:13:24,040 Speaker 1: Thank you, welcome back. I'm Kevin Cirelli, Bloomberg News Chief 232 00:13:24,040 --> 00:13:28,520 Speaker 1: Washington correspondent for Bloomberg Television and Bloomberg Radio. I'm seated 233 00:13:28,679 --> 00:13:34,800 Speaker 1: atop the roof of the Oh Gallery, classy hotel in Hanoi, Vietnam, 234 00:13:35,040 --> 00:13:38,120 Speaker 1: where President Trump, as well as North Korea leader Kim 235 00:13:38,200 --> 00:13:42,679 Speaker 1: Jong un are well likely sleeping right now across town 236 00:13:42,679 --> 00:13:46,880 Speaker 1: in separate hotels. The summit, the second summit and under 237 00:13:46,920 --> 00:13:49,280 Speaker 1: a year, the first being in Singapore, got off to 238 00:13:49,400 --> 00:13:53,960 Speaker 1: a confusing start when Kim Jong un in the Melia 239 00:13:54,160 --> 00:13:56,960 Speaker 1: Hotel decided that well, he didn't like the fact that 240 00:13:56,960 --> 00:13:59,319 Speaker 1: they were a white house press pooler staying in that hotel. 241 00:13:59,640 --> 00:14:03,000 Speaker 1: He went to the Vietnamese embassy and those white house 242 00:14:03,120 --> 00:14:07,040 Speaker 1: press uh colleagues of mine had to had to change 243 00:14:07,040 --> 00:14:09,800 Speaker 1: their plants. It's a much different field this time here 244 00:14:09,840 --> 00:14:12,359 Speaker 1: in Hannoy than it was when I was in Singapore 245 00:14:12,480 --> 00:14:16,000 Speaker 1: covering that summit, where everything felt a bit more scripted, 246 00:14:16,400 --> 00:14:20,120 Speaker 1: a bit more um scheduled, for lack of a better term. 247 00:14:20,200 --> 00:14:24,520 Speaker 1: It's five twenty am here in Hanoi local time, twelve 248 00:14:24,520 --> 00:14:29,040 Speaker 1: hours ahead of Eastern time, and tonight in local time 249 00:14:29,080 --> 00:14:31,640 Speaker 1: of Hannoi, President Trump and Kim Jong You're are gonna 250 00:14:31,680 --> 00:14:34,480 Speaker 1: have dinner together, and then the following day after that 251 00:14:34,520 --> 00:14:37,840 Speaker 1: they're going to have that summit with their respective stats. 252 00:14:37,880 --> 00:14:41,040 Speaker 1: We're talking about all that. We're also carefully monitoring FED 253 00:14:41,160 --> 00:14:46,280 Speaker 1: Chair J. Powell's testimony in the Senate earlier, as well 254 00:14:46,320 --> 00:14:49,880 Speaker 1: as what's going on with President's Trump's and Congress's reaction 255 00:14:50,000 --> 00:14:53,680 Speaker 1: rather to President Trump's decision to declare a national emergency 256 00:14:53,720 --> 00:14:56,640 Speaker 1: along the US Mexico border. It's why I'm so glad 257 00:14:56,680 --> 00:14:59,520 Speaker 1: that Shannon Petty Piece, my colleague back in the Washington 258 00:14:59,560 --> 00:15:02,280 Speaker 1: Bureau and Bloomberg News White House reporter, is with me 259 00:15:02,320 --> 00:15:05,120 Speaker 1: for the hour, as is Brett Bruin, president of the 260 00:15:05,160 --> 00:15:08,560 Speaker 1: Global Situation Room. But right now I want to get 261 00:15:08,600 --> 00:15:12,680 Speaker 1: to Congressman John Garamendi. He is a Democrat from California 262 00:15:13,040 --> 00:15:15,360 Speaker 1: who has been so generous with his time. He's also 263 00:15:15,400 --> 00:15:19,920 Speaker 1: a member of the House Armed Services UH Committee. Congressman, 264 00:15:20,000 --> 00:15:22,920 Speaker 1: thank you for joining us. What do you make of 265 00:15:22,960 --> 00:15:28,200 Speaker 1: the upcoming summit and the start to which it got off, Well, 266 00:15:28,280 --> 00:15:32,440 Speaker 1: let's just put it this way. We don't know. There 267 00:15:32,560 --> 00:15:39,280 Speaker 1: is an enormous amount of questioning, supposition, and curiosity as 268 00:15:39,320 --> 00:15:42,720 Speaker 1: to what the President UH and UH Kim John, you 269 00:15:42,840 --> 00:15:44,880 Speaker 1: are going to even talk about, let alone what they 270 00:15:44,960 --> 00:15:48,800 Speaker 1: might agree to. Earlier today we were I was involved 271 00:15:48,800 --> 00:15:52,680 Speaker 1: in conversations having to do with the readiness of the 272 00:15:52,760 --> 00:15:59,320 Speaker 1: American military in South Korea, where we have extraordinary forces 273 00:15:59,400 --> 00:16:03,560 Speaker 1: that over the years have been prepared to fight tonight, 274 00:16:03,600 --> 00:16:06,480 Speaker 1: they're ready to go and the last time there was 275 00:16:06,520 --> 00:16:11,320 Speaker 1: a summit, the President decided that that readiness would be 276 00:16:11,400 --> 00:16:17,160 Speaker 1: diminished because certain UH programs and exercises with the Korean 277 00:16:17,600 --> 00:16:20,520 Speaker 1: military would not take place. And so a whole lot 278 00:16:20,520 --> 00:16:22,720 Speaker 1: of us on the Armed Services and Committee and well, 279 00:16:22,720 --> 00:16:24,480 Speaker 1: what's he going to agree to now and what will 280 00:16:24,520 --> 00:16:27,400 Speaker 1: be the effect of the readiness of those troops. UH, 281 00:16:27,640 --> 00:16:30,400 Speaker 1: we just don't know. There is really no way to 282 00:16:30,440 --> 00:16:35,080 Speaker 1: anticipate what the President might decide to do. Congressman Congressman 283 00:16:35,160 --> 00:16:38,320 Speaker 1: John Garamandi, a Democrat from California, I got my committees 284 00:16:38,320 --> 00:16:40,040 Speaker 1: in the Senate of the House mixed up. Here, of course, 285 00:16:40,120 --> 00:16:43,360 Speaker 1: is a member of the House Committee on Armed Services, 286 00:16:43,400 --> 00:16:47,280 Speaker 1: and he is the subcommittee chairman on readiness, of course, 287 00:16:47,600 --> 00:16:51,320 Speaker 1: And and alluding to that meeting back in Washington earlier today, 288 00:16:51,360 --> 00:16:54,320 Speaker 1: you mentioned one of the agreements that was reached in 289 00:16:54,400 --> 00:16:58,760 Speaker 1: Singapore in which UH, the the US had backed off 290 00:16:58,840 --> 00:17:02,640 Speaker 1: some of their military exercises. I gotta be frank here, Congressman, 291 00:17:03,040 --> 00:17:05,119 Speaker 1: and I know you'll you'll level with us. When you 292 00:17:05,160 --> 00:17:07,639 Speaker 1: look at what the reports from the intelligence community have 293 00:17:07,720 --> 00:17:10,800 Speaker 1: come out with, it's not looking like North Korea has 294 00:17:10,840 --> 00:17:15,560 Speaker 1: backed off of their nuclear ambitions. Whatsoever. Well, that's certainly 295 00:17:15,560 --> 00:17:20,919 Speaker 1: the case. The public information provided by the talents the 296 00:17:20,960 --> 00:17:24,960 Speaker 1: community said they're continuing to build rockets, They're continuing their 297 00:17:26,480 --> 00:17:31,320 Speaker 1: construction of nuclear weapons. They're continuing to produce the plutonium 298 00:17:31,359 --> 00:17:33,840 Speaker 1: and highly enriched uranium, all of which are part of 299 00:17:33,840 --> 00:17:37,439 Speaker 1: a nuclear weapon. None of that has really changed. The 300 00:17:37,480 --> 00:17:40,360 Speaker 1: only thing that's changed is they're not exploding their bombs anymore. 301 00:17:40,480 --> 00:17:44,600 Speaker 1: Probably wanted to hang onto them better than explode them. Uh. 302 00:17:44,640 --> 00:17:47,240 Speaker 1: And they're not sending their missiles off into space to 303 00:17:47,400 --> 00:17:51,120 Speaker 1: land in the Sea of Japan or beyond, because they 304 00:17:51,119 --> 00:17:54,400 Speaker 1: probably want to keep those missiles to be used as 305 00:17:54,440 --> 00:17:57,840 Speaker 1: a deterrent or to back the United States off or whatever. 306 00:17:58,400 --> 00:18:01,320 Speaker 1: All of which h US is me and my colleagues 307 00:18:01,320 --> 00:18:05,560 Speaker 1: here to say. Let's be very very much aware that 308 00:18:05,840 --> 00:18:07,640 Speaker 1: a lot of happy talk and a lot of love 309 00:18:07,800 --> 00:18:10,840 Speaker 1: out of the fest and Singapore turned out to be 310 00:18:11,680 --> 00:18:16,560 Speaker 1: not so useful in terms of disarmament, in terms of nuclearization, 311 00:18:17,200 --> 00:18:21,080 Speaker 1: and may very well had to have led to the 312 00:18:21,160 --> 00:18:24,080 Speaker 1: degradation of the readiness of the American troops on the 313 00:18:24,320 --> 00:18:27,280 Speaker 1: U in South Korea, all of which is a great 314 00:18:27,320 --> 00:18:30,800 Speaker 1: concern to US Congressman John Garrimania Democrat from California, a 315 00:18:30,880 --> 00:18:33,880 Speaker 1: member of the Committee on Armed Services. I know you've 316 00:18:34,400 --> 00:18:36,520 Speaker 1: you've got to run to another meeting, and and just 317 00:18:36,760 --> 00:18:39,560 Speaker 1: under a minute that we have left with you, sir, 318 00:18:40,080 --> 00:18:43,280 Speaker 1: what's the late Kevin? You had not heard. I decided 319 00:18:43,320 --> 00:18:46,719 Speaker 1: that talking to you since your five am in Hanoi, 320 00:18:46,880 --> 00:18:49,280 Speaker 1: that I should spend some some more time, So I've 321 00:18:49,280 --> 00:18:53,840 Speaker 1: delayed my meeting. Well, I appreciate that. Well before that's 322 00:18:53,840 --> 00:18:55,959 Speaker 1: another matter. No, well, we have a break, but if 323 00:18:55,960 --> 00:18:57,560 Speaker 1: you can delay the meeting, you can stick around out 324 00:18:57,600 --> 00:18:59,800 Speaker 1: to the break. We've got less than a minute until 325 00:19:00,160 --> 00:19:03,600 Speaker 1: what's the latest in terms of China's involvement of these 326 00:19:03,920 --> 00:19:09,240 Speaker 1: UH denuclearization talks? We have under a minute left before break. Well, 327 00:19:09,320 --> 00:19:13,160 Speaker 1: as near as I can tell, UH, China is more 328 00:19:13,240 --> 00:19:17,199 Speaker 1: interested at the moment of its trade trade relations with 329 00:19:17,240 --> 00:19:21,400 Speaker 1: the United States. They seem to not be particularly interested 330 00:19:21,440 --> 00:19:23,960 Speaker 1: in the sanctions or maintaining the sanctions. There seems to 331 00:19:23,960 --> 00:19:26,320 Speaker 1: be a lot of leaky in that area. So it's 332 00:19:26,320 --> 00:19:28,919 Speaker 1: a major concern to us that where's China going. And 333 00:19:29,160 --> 00:19:31,159 Speaker 1: I don't believe anything is going to come to anything 334 00:19:31,160 --> 00:19:33,240 Speaker 1: in North Korea until China decides, So they're going to 335 00:19:33,320 --> 00:19:38,440 Speaker 1: put heavy pressure and force there a Congressman John Karamandi, 336 00:19:38,520 --> 00:19:41,160 Speaker 1: Democrat in California. Hopefully we'll talk to you after the break. 337 00:19:41,200 --> 00:19:43,320 Speaker 1: We've got much more to touch on, including the Wall. 338 00:19:43,440 --> 00:19:46,280 Speaker 1: Check us out on iTunes and I Heart, as well 339 00:19:46,280 --> 00:19:49,080 Speaker 1: as on the Bloomberg Ap. I'm Kevin's really This is 340 00:19:49,119 --> 00:20:02,439 Speaker 1: Bloomberg Is So Dawn with Kevin Zerily live from the 341 00:20:02,480 --> 00:20:08,440 Speaker 1: Trump Kim nuclear summit in Hanoi on Bloomberg Radio. Brolcome back. 342 00:20:08,520 --> 00:20:12,320 Speaker 1: My name is Kevin Sirilli, Bloomberg News Chief Washington correspondent 343 00:20:12,359 --> 00:20:17,920 Speaker 1: for Bloomberg Television and Bloomberg Radio. I'm in Hannoi, Vietnam 344 00:20:17,960 --> 00:20:21,520 Speaker 1: for President Trump's summit with North Korea leader Kim Jong Noon. 345 00:20:22,320 --> 00:20:25,720 Speaker 1: In a about twelve or so hours, President Trump is 346 00:20:25,760 --> 00:20:29,960 Speaker 1: expected to have dinner, break bread or something like that 347 00:20:30,040 --> 00:20:33,280 Speaker 1: with North Korea leader Kim Jong Noon, and then about 348 00:20:33,320 --> 00:20:35,800 Speaker 1: twenty four hours from now they are going to have 349 00:20:35,920 --> 00:20:41,320 Speaker 1: a summit with their respective teams. I'm actually broadcasting from 350 00:20:41,359 --> 00:20:45,280 Speaker 1: the rooftop on a misty morning here just before dawn 351 00:20:45,600 --> 00:20:49,240 Speaker 1: at the Old Gallery classy hotel across a couple of 352 00:20:49,240 --> 00:20:52,960 Speaker 1: blocks away from the Quantim Lake in central Hannoi. President 353 00:20:52,960 --> 00:20:56,600 Speaker 1: Trump has arrived. Uh, he's staying at the JW. Marriott. 354 00:20:56,680 --> 00:21:01,000 Speaker 1: Kim Jong Noon is here. He's staying at the Melia Hotel. 355 00:21:01,760 --> 00:21:05,480 Speaker 1: And Congressman John Garrimandy, Democrat in California, was helping break 356 00:21:05,520 --> 00:21:08,439 Speaker 1: all of this down. He joins us on the phone 357 00:21:08,440 --> 00:21:10,160 Speaker 1: and and in Congressman, I know you've got to run, 358 00:21:10,160 --> 00:21:12,920 Speaker 1: but I do want to get your take on domestic issues, 359 00:21:13,000 --> 00:21:17,800 Speaker 1: in particular where things stand with President Trump's declaration of 360 00:21:17,800 --> 00:21:20,720 Speaker 1: a national emergency along the US Mexico border. He wants 361 00:21:20,720 --> 00:21:23,560 Speaker 1: to get eight billion dollars anyway he can to build 362 00:21:23,600 --> 00:21:26,680 Speaker 1: his wall. There's some legislation. It looks like all eyes 363 00:21:26,720 --> 00:21:31,960 Speaker 1: are on the Senate. Well, we're gonna start tonight, uh 364 00:21:32,080 --> 00:21:35,439 Speaker 1: here in the House of Representatives and pass legislation that 365 00:21:35,520 --> 00:21:41,520 Speaker 1: would repeal his emergency declaration. Under the emergency laws. That 366 00:21:41,600 --> 00:21:44,919 Speaker 1: can be done, and it will pass the House today, 367 00:21:45,000 --> 00:21:47,560 Speaker 1: it'll be over in the Senate, and then since it's 368 00:21:47,560 --> 00:21:50,120 Speaker 1: a privileged resolution, it will have to be taken up 369 00:21:50,119 --> 00:21:55,320 Speaker 1: by the Senate, and I think within eighteen days. And 370 00:21:55,359 --> 00:21:57,359 Speaker 1: so let's see. I think the votes are there for 371 00:21:57,400 --> 00:22:00,359 Speaker 1: the Senate to pass it. Uh, But the body line 372 00:22:00,359 --> 00:22:02,719 Speaker 1: of his is not this kind of maneuvering. The bottom 373 00:22:02,720 --> 00:22:05,919 Speaker 1: line of it is the Constitution, the separation of powers, 374 00:22:06,000 --> 00:22:09,320 Speaker 1: the three branches of the coach, the three co equal branches. 375 00:22:09,680 --> 00:22:12,679 Speaker 1: That's what's really at stake here. This is about a 376 00:22:12,720 --> 00:22:15,920 Speaker 1: president that wants to become an imperial president. I think 377 00:22:15,920 --> 00:22:18,160 Speaker 1: he wants to be like Kim John Noon. I think 378 00:22:18,160 --> 00:22:21,000 Speaker 1: he wants the same kind of power to dictate not 379 00:22:21,080 --> 00:22:22,760 Speaker 1: only what's going to be done, but how it's going 380 00:22:22,800 --> 00:22:26,359 Speaker 1: to be paid. Uh. Keep in mind here, Kevin, that 381 00:22:26,480 --> 00:22:30,160 Speaker 1: the House of Representatives and the Senate and the President 382 00:22:30,680 --> 00:22:33,600 Speaker 1: debated the issue of the border wall for a year, 383 00:22:34,520 --> 00:22:37,760 Speaker 1: and the Congress of the United States, which has Article one, 384 00:22:39,640 --> 00:22:44,000 Speaker 1: Section nine that only the Congress can appropriate money, made 385 00:22:44,000 --> 00:22:48,800 Speaker 1: a decision, made a decision to fund the border security 386 00:22:48,880 --> 00:22:53,359 Speaker 1: at one point three seven billion dollars. No sooner had 387 00:22:53,400 --> 00:22:55,840 Speaker 1: the President signed that law than he took it upon 388 00:22:55,960 --> 00:23:00,439 Speaker 1: himself to say not enough. I the President shall appropriate 389 00:23:01,440 --> 00:23:04,200 Speaker 1: eight billion dollars. Congressman, I know you've got to run, 390 00:23:04,200 --> 00:23:05,720 Speaker 1: but I got to ask you a follow up because 391 00:23:05,760 --> 00:23:08,920 Speaker 1: I'm here halfway around or literally on the other side 392 00:23:08,960 --> 00:23:11,399 Speaker 1: of the world. I'm sipping my Vietnamese coffee and my 393 00:23:11,440 --> 00:23:13,840 Speaker 1: ears perked up, and if you're driving home from work, 394 00:23:14,080 --> 00:23:16,199 Speaker 1: I'm sure their ears perked up to did did you 395 00:23:16,240 --> 00:23:19,440 Speaker 1: just compare President Trump to Kim John? June I said, 396 00:23:19,480 --> 00:23:22,240 Speaker 1: the President is trying to acquire the same power that 397 00:23:22,240 --> 00:23:25,639 Speaker 1: that that Kim John. That is the to dictate not 398 00:23:25,720 --> 00:23:28,040 Speaker 1: only what will be done, but how it's going to 399 00:23:28,080 --> 00:23:32,040 Speaker 1: get paid for. That is so and and just to 400 00:23:32,080 --> 00:23:35,040 Speaker 1: the Constitution of the United States that says there are 401 00:23:35,040 --> 00:23:40,520 Speaker 1: three co equal branches. An Article one, section nine specifically 402 00:23:40,520 --> 00:23:44,879 Speaker 1: says no money shall be drawn from the Treasury except 403 00:23:44,920 --> 00:23:48,920 Speaker 1: by an appropriation law. That's what it says. And here 404 00:23:48,920 --> 00:23:52,560 Speaker 1: the president, after signing a law in which the Congress 405 00:23:52,680 --> 00:23:57,520 Speaker 1: debated for a full year, actually fourteen months, how much 406 00:23:57,520 --> 00:23:59,560 Speaker 1: money would be spent on the wall. The Congress said, 407 00:23:59,640 --> 00:24:01,440 Speaker 1: this is the amount of money. This is what it's 408 00:24:01,440 --> 00:24:04,080 Speaker 1: going to be used for. That's the law. No sooner 409 00:24:04,160 --> 00:24:06,560 Speaker 1: was that done than the President says, I don't care. 410 00:24:07,160 --> 00:24:09,480 Speaker 1: I'm going to declare an emergency and I'm going to 411 00:24:09,560 --> 00:24:12,640 Speaker 1: take the power to appropriate the money. In other words, 412 00:24:12,760 --> 00:24:15,720 Speaker 1: reserve the power of Congress, and it cannot be allowed 413 00:24:15,760 --> 00:24:21,080 Speaker 1: to happen. Alright. Congressman John Garamande, Democrat from California, joining 414 00:24:21,160 --> 00:24:23,760 Speaker 1: us on the phone from Washington, d C. Ahead of 415 00:24:23,760 --> 00:24:27,199 Speaker 1: those crucial House votes later this evening. Congressman will have 416 00:24:27,240 --> 00:24:28,480 Speaker 1: to have you back on. I know you do a 417 00:24:28,480 --> 00:24:32,080 Speaker 1: lot of great work on the bipartisan Alzheimer's Task Force. 418 00:24:32,200 --> 00:24:34,880 Speaker 1: I do want to one day hopefully get a segment 419 00:24:34,960 --> 00:24:37,679 Speaker 1: in on all of that great work. Congressman, thank you 420 00:24:37,760 --> 00:24:41,120 Speaker 1: for joining us. Appreciate your time. I'm Kevin Seirely, Bloomberg 421 00:24:41,160 --> 00:24:44,560 Speaker 1: News Chief Washington correspondent. Joining us from our Washington studio 422 00:24:44,720 --> 00:24:48,199 Speaker 1: is Shannon petty Piece, Bloomberg News White House reporter, and 423 00:24:48,400 --> 00:24:51,639 Speaker 1: on the phone Brett Bruin, President of the Global Situation 424 00:24:51,720 --> 00:24:56,840 Speaker 1: Room and former White House Director of Global Engagement. Now, Shannon, 425 00:24:56,920 --> 00:24:59,760 Speaker 1: we just heard from the Congressman about the politics of 426 00:24:59,800 --> 00:25:04,680 Speaker 1: the declaration of the national emergency. By my account over 427 00:25:04,760 --> 00:25:07,600 Speaker 1: here in Hanoi, it would appear that the votes are 428 00:25:07,640 --> 00:25:10,399 Speaker 1: there in the Senate, that that there are enough Republicans 429 00:25:10,440 --> 00:25:13,520 Speaker 1: who are going to vote with the Democrats in the 430 00:25:13,520 --> 00:25:15,439 Speaker 1: House when this gets over there to send this to 431 00:25:15,480 --> 00:25:19,840 Speaker 1: the President's desk. For them. It's an issue of constitutionalism 432 00:25:20,000 --> 00:25:23,399 Speaker 1: versus a threat of a national emergency on the wall. 433 00:25:23,800 --> 00:25:28,119 Speaker 1: Three Republican senators. Senators Susan Collins of main Lisa Murkowski 434 00:25:28,160 --> 00:25:31,439 Speaker 1: of Alaska, and Tom Tillis of North Carolina say that 435 00:25:31,480 --> 00:25:35,639 Speaker 1: they are going to support the Democratic sponsored resolution. Now 436 00:25:36,160 --> 00:25:38,760 Speaker 1: it's they don't have a veto proof. The President's going 437 00:25:38,800 --> 00:25:40,639 Speaker 1: to veto this and send it back to them, and 438 00:25:40,960 --> 00:25:43,200 Speaker 1: I don't think they have enough votes to override the veto. 439 00:25:43,680 --> 00:25:45,639 Speaker 1: But what kind of message are they are they sending 440 00:25:45,680 --> 00:25:49,560 Speaker 1: to President Trump? Shandam well, I mean to for the 441 00:25:49,600 --> 00:25:52,560 Speaker 1: President to have to veto this too, is is you know, 442 00:25:52,680 --> 00:25:57,360 Speaker 1: quite a big step, you know to override Congress on this? Um. 443 00:25:57,400 --> 00:26:00,560 Speaker 1: I mean they the argument that Republicans have been making, 444 00:26:00,560 --> 00:26:03,680 Speaker 1: and you mentioned those are sort of in the yes column. 445 00:26:03,720 --> 00:26:06,560 Speaker 1: There's a number of others who just haven't you know, 446 00:26:06,640 --> 00:26:09,240 Speaker 1: decided one way or another and could could sort of 447 00:26:09,240 --> 00:26:11,280 Speaker 1: tip probably not enough to get to that two third 448 00:26:11,440 --> 00:26:15,040 Speaker 1: veto proof, uh number, but that it could certainly look 449 00:26:15,359 --> 00:26:17,880 Speaker 1: a lot more than just a you know handful of 450 00:26:18,200 --> 00:26:22,640 Speaker 1: you know, GOP defectors. The bigger concern here that Republicans, 451 00:26:22,720 --> 00:26:25,840 Speaker 1: that these Republican members are making is that this is cyclical. 452 00:26:26,000 --> 00:26:28,600 Speaker 1: What's gonna happen when we have a Democrat president? Uh? 453 00:26:28,640 --> 00:26:31,720 Speaker 1: They go back to Obama, and they didn't like how 454 00:26:31,760 --> 00:26:34,480 Speaker 1: Obama used his authority when it came to DOCCA. Not 455 00:26:34,600 --> 00:26:37,600 Speaker 1: necessarily that those two things are the same, but it 456 00:26:37,640 --> 00:26:42,080 Speaker 1: goes to this concern they have about overreach of presidential power. 457 00:26:42,160 --> 00:26:45,200 Speaker 1: And you know, I think someone sometimes the president and 458 00:26:45,359 --> 00:26:47,560 Speaker 1: you know, President Trump will be here another you know, 459 00:26:47,680 --> 00:26:50,479 Speaker 1: two to six years and then he's gone. Uh. Members 460 00:26:50,480 --> 00:26:54,000 Speaker 1: of Congress typically have a longer life cycle. They've seen 461 00:26:54,600 --> 00:26:57,679 Speaker 1: presidents come and go. They know that, Uh, this two 462 00:26:57,760 --> 00:26:59,880 Speaker 1: years you're in the next two years, you may be out. 463 00:27:00,000 --> 00:27:02,760 Speaker 1: And if you don't want people pulling over the same 464 00:27:02,880 --> 00:27:05,600 Speaker 1: tricks that they pulled over last time, you can't go 465 00:27:05,640 --> 00:27:07,840 Speaker 1: ahead with it and give these powers and set these 466 00:27:07,880 --> 00:27:10,800 Speaker 1: precedents with it's all that setting precedent that's the issue 467 00:27:10,800 --> 00:27:12,760 Speaker 1: when these go to court, um, you know down the 468 00:27:12,840 --> 00:27:15,080 Speaker 1: road in the future. All right, coming up, we're gonna 469 00:27:15,119 --> 00:27:17,159 Speaker 1: have more on that as well as on the Michael 470 00:27:17,160 --> 00:27:20,200 Speaker 1: Cohen legal fallout. More from Shannon Petty Peace Bloomberg News 471 00:27:20,359 --> 00:27:22,719 Speaker 1: White House Reporter, Holding down the Fort Back in our 472 00:27:22,760 --> 00:27:25,959 Speaker 1: d C Bureau. Remember, you can download the sound on 473 00:27:26,040 --> 00:27:29,680 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com or by 474 00:27:29,720 --> 00:27:33,600 Speaker 1: downloading my personal favorite app, the Bloomberg Business App. You 475 00:27:33,640 --> 00:27:36,000 Speaker 1: can also check us out on Radio dot com and 476 00:27:36,119 --> 00:27:39,800 Speaker 1: on I Heart Radio. We're live from Hanoi, the Trump 477 00:27:39,920 --> 00:27:43,400 Speaker 1: Kim's Summit. I'm Kevin Cirelli. You're listening to sound on. 478 00:27:43,840 --> 00:27:58,160 Speaker 1: This is Bloomberg Global News twenty four hours a day 479 00:27:58,400 --> 00:28:02,560 Speaker 1: at Bloomberg dot Com, Boomberg Business App, and TikTok on Twitter. 480 00:28:03,200 --> 00:28:06,720 Speaker 1: He's at Bloomberg Business Lash. Indeed, it is at forty 481 00:28:06,760 --> 00:28:08,919 Speaker 1: five past the hour. I'm Doug Krisner at the Bloomberg 482 00:28:08,960 --> 00:28:11,680 Speaker 1: Interactive Broker Studio in New York. We had a little 483 00:28:11,680 --> 00:28:13,800 Speaker 1: bit of movement to the downside in the equity market 484 00:28:13,840 --> 00:28:18,040 Speaker 1: after fluctuating during the day between gains and losses. Now 485 00:28:18,200 --> 00:28:21,560 Speaker 1: the SNP NASDAT composite each weeker by roughly one tenth 486 00:28:21,600 --> 00:28:24,119 Speaker 1: of one percent. We heard from Fed Chare J. Powell. 487 00:28:24,440 --> 00:28:28,040 Speaker 1: He's forecasting solid growth for the American economy, but at 488 00:28:28,040 --> 00:28:31,320 Speaker 1: a slower rate given some cross currents and conflicting signals, 489 00:28:31,400 --> 00:28:34,399 Speaker 1: not the least of which weaker global growth. The pound 490 00:28:34,520 --> 00:28:37,320 Speaker 1: rallied against the dollar by more than one percent. That 491 00:28:37,400 --> 00:28:40,600 Speaker 1: was after British Prime Minister Theresa May promised a vote 492 00:28:40,640 --> 00:28:44,720 Speaker 1: to delay Brexit. That's if her revised plan on Brexit 493 00:28:45,080 --> 00:28:48,560 Speaker 1: were to fail in Parliament. The end strengthened quite a 494 00:28:48,600 --> 00:28:50,840 Speaker 1: bit in New York trading. Right now, we're at one 495 00:28:50,920 --> 00:28:53,160 Speaker 1: ten fifty eight against the green back, and that's gonna 496 00:28:53,160 --> 00:28:56,400 Speaker 1: weigh on Futures for the knick k to cash market 497 00:28:56,400 --> 00:28:59,720 Speaker 1: in Tokyo will be up and running in about an 498 00:28:59,720 --> 00:29:03,840 Speaker 1: hour and fifteen minutes from now. Bloomberg Dollar Spot Index 499 00:29:03,920 --> 00:29:06,280 Speaker 1: during the day was down two tenths of one percent. 500 00:29:06,520 --> 00:29:09,920 Speaker 1: W t I crude oil settling fifty fifty, and the 501 00:29:10,000 --> 00:29:12,360 Speaker 1: US Tenure Treasury last quoted in New York in the 502 00:29:12,400 --> 00:29:15,600 Speaker 1: yield of two point six three. Let's get back to 503 00:29:15,600 --> 00:29:18,280 Speaker 1: a special edition of Sound On with Kevin Cerelli. He's 504 00:29:18,360 --> 00:29:24,040 Speaker 1: live from Hanoi for the Trump Kim Summit. Welcome back. 505 00:29:24,120 --> 00:29:28,080 Speaker 1: My name is Kevin Cerelli, Bloomberg News Chief Washington correspondent 506 00:29:28,120 --> 00:29:33,880 Speaker 1: for Bloomberg Television and Bloomberg Radio. I'm broadcasting from Hannoi, Vietnam. 507 00:29:33,920 --> 00:29:37,600 Speaker 1: I'm broadcasting a top of the Oh Gallery classy hotel 508 00:29:37,680 --> 00:29:40,560 Speaker 1: in downtown Hannoi, which is just a few blocks from 509 00:29:40,880 --> 00:29:45,240 Speaker 1: the Juanquin Lake in central Hannoi. President Trump is staying 510 00:29:45,480 --> 00:29:48,360 Speaker 1: across town at the j W. Marriott, as is Kim 511 00:29:48,440 --> 00:29:51,840 Speaker 1: Joan Noon, the North Korea thirty five year old dictator 512 00:29:52,080 --> 00:29:56,040 Speaker 1: who's staying at the Melia Hotel. Now, and just a 513 00:29:56,120 --> 00:29:59,400 Speaker 1: couple of hours twelve hours or so local time here 514 00:29:59,480 --> 00:30:02,360 Speaker 1: dinner time, President Trump and Kim Jong n are going 515 00:30:02,400 --> 00:30:06,719 Speaker 1: to break bread likely and have dinner together according to schedules, 516 00:30:06,760 --> 00:30:09,680 Speaker 1: and then about a day at a day later, they're 517 00:30:09,720 --> 00:30:12,200 Speaker 1: going to be a local time they're going to have 518 00:30:12,360 --> 00:30:15,320 Speaker 1: their summit with their respective staffs. This is the second 519 00:30:15,360 --> 00:30:19,000 Speaker 1: time twice in less than a year that President Trump 520 00:30:19,040 --> 00:30:22,280 Speaker 1: has met with Kim Jong un, the first meeting happening 521 00:30:22,280 --> 00:30:26,640 Speaker 1: in Singapore for these de nuclearization talks. To walk us 522 00:30:26,640 --> 00:30:29,480 Speaker 1: through all of the politics of this and the policy. 523 00:30:29,880 --> 00:30:32,880 Speaker 1: Brett Brewin, President of the Global Situation Room and former 524 00:30:32,920 --> 00:30:35,400 Speaker 1: White House Director of Global Engagement. He's also been a 525 00:30:35,400 --> 00:30:39,920 Speaker 1: diplomat in many nations, including a former diplomat UH in 526 00:30:40,000 --> 00:30:42,960 Speaker 1: Venezuela and Shannon Petty Peace my good friend holding down 527 00:30:43,000 --> 00:30:46,560 Speaker 1: the fort for US uh in our DC bureau, Bloomberg News, 528 00:30:46,560 --> 00:30:50,920 Speaker 1: White House reporter and domestically and Shannon, you have an 529 00:30:50,920 --> 00:30:53,880 Speaker 1: amazing story up on the Bloomberg terminal today. By the way, 530 00:30:54,080 --> 00:30:56,560 Speaker 1: I love this graph. I'm just gonna read it. As 531 00:30:56,600 --> 00:31:00,720 Speaker 1: President Trump walked off Air Force One in Hannoi. On Tuesday, 532 00:31:01,160 --> 00:31:05,040 Speaker 1: his former fixer and lawyer Michael Cohen arrived on Capitol 533 00:31:05,120 --> 00:31:09,640 Speaker 1: Hill to testify behind closed doors before the Senate Intelligence Committee, 534 00:31:09,640 --> 00:31:13,280 Speaker 1: which is probing links between Russia and the Trump campaign. 535 00:31:13,760 --> 00:31:16,200 Speaker 1: I'll be honest, here in Hanoi, no one's talking about 536 00:31:16,200 --> 00:31:18,760 Speaker 1: the Mueller investigation. But I imagine back in the States 537 00:31:18,800 --> 00:31:21,800 Speaker 1: it's a different story. And it's an amazing split screen 538 00:31:21,920 --> 00:31:25,760 Speaker 1: between the President landing in Vietnam and Michael Cohen walking 539 00:31:25,800 --> 00:31:27,720 Speaker 1: on Capitol Hill. And I mean, it's really been a 540 00:31:27,720 --> 00:31:31,320 Speaker 1: split screen that's been playing all day uh cable television, 541 00:31:31,520 --> 00:31:34,640 Speaker 1: and it will continue tomorrow. Michael Cohen is going to 542 00:31:34,720 --> 00:31:39,200 Speaker 1: testify publicly before the House Oversight Committee. And this is 543 00:31:39,240 --> 00:31:42,880 Speaker 1: not the first time, um where the President has been overseas, 544 00:31:42,920 --> 00:31:45,360 Speaker 1: and everyone back in the US has been talking about 545 00:31:45,400 --> 00:31:49,080 Speaker 1: the Mueller investigation. On a few days before President Trump's 546 00:31:49,120 --> 00:31:52,240 Speaker 1: first international trip to Saudi Arabia was when Mueller was appointed. 547 00:31:52,840 --> 00:31:56,040 Speaker 1: When President Trump had his last big summit with Vladimir 548 00:31:56,080 --> 00:31:59,320 Speaker 1: Putin in Helsinki, of course, I remember a few days 549 00:31:59,320 --> 00:32:03,120 Speaker 1: before that Baller indicted twelve uh Russians. And I mean 550 00:32:03,160 --> 00:32:05,280 Speaker 1: even when we look back on the president was heading 551 00:32:05,280 --> 00:32:07,800 Speaker 1: to the G twenty and Argentina a few months ago, 552 00:32:08,080 --> 00:32:10,560 Speaker 1: and hours before he left for that trip where he 553 00:32:10,600 --> 00:32:13,040 Speaker 1: was meeting with you know, a number of world leaders, 554 00:32:13,360 --> 00:32:15,720 Speaker 1: was when Michael Cohen pled guilty to a line to 555 00:32:15,800 --> 00:32:18,880 Speaker 1: Congress about the timing of this Trump Tower Moscow deal. 556 00:32:19,000 --> 00:32:22,320 Speaker 1: So um I counted at least six occasions where the 557 00:32:22,360 --> 00:32:27,720 Speaker 1: president's foreign trips have coincided with developments in Mueller's Russia investigation. 558 00:32:27,760 --> 00:32:29,720 Speaker 1: Back if you're gonna get out of town, right, Shannon 559 00:32:29,760 --> 00:32:31,960 Speaker 1: Petty Peace Bloomberg News, White House re border Brett Ruin, 560 00:32:32,240 --> 00:32:35,160 Speaker 1: President of the Global Situation WHEREM a global consulting firm 561 00:32:35,200 --> 00:32:37,560 Speaker 1: based in Washington, d C. He's also the former White 562 00:32:37,560 --> 00:32:41,840 Speaker 1: House Director of Global Engagement UH and has served as 563 00:32:41,880 --> 00:32:47,400 Speaker 1: a diplomat representing the United States really all over the world. Um, Brett, 564 00:32:48,000 --> 00:32:52,760 Speaker 1: when when a when it's domestic scandal erupts the way 565 00:32:52,800 --> 00:32:57,240 Speaker 1: that Shannon has described from your experience, h serving in 566 00:32:57,280 --> 00:33:02,120 Speaker 1: the international diplomatic community, does it impacts what's going on 567 00:33:02,160 --> 00:33:07,400 Speaker 1: in the ground, Without question? And really don't UM forget 568 00:33:07,640 --> 00:33:13,520 Speaker 1: that Kim Jong un reads American media religiously and he 569 00:33:13,640 --> 00:33:17,120 Speaker 1: knows that Donald Trump is in a weekend position. He 570 00:33:17,200 --> 00:33:21,520 Speaker 1: knows Donald Trump needs a deal to shore up his 571 00:33:21,920 --> 00:33:26,120 Speaker 1: political power back in Washington, so he will take full 572 00:33:26,160 --> 00:33:31,520 Speaker 1: advantage of the domestic problems that Trump is having, the investigations, 573 00:33:31,720 --> 00:33:36,760 Speaker 1: the allegations, and use that to try and extract the 574 00:33:36,880 --> 00:33:40,160 Speaker 1: best deal possible. So you know, I think we are 575 00:33:41,320 --> 00:33:46,320 Speaker 1: unfortunately heading back into the second summit without any clear 576 00:33:46,840 --> 00:33:52,400 Speaker 1: achievements from the first summit having actually been advanced. Trump 577 00:33:52,920 --> 00:33:55,720 Speaker 1: UH is in a weekend position, and I'm just left 578 00:33:55,760 --> 00:33:58,520 Speaker 1: asking myself, and I know that a number of others 579 00:33:58,600 --> 00:34:02,920 Speaker 1: are why are we here? What is it that we 580 00:34:03,080 --> 00:34:06,800 Speaker 1: expect that is going to be achieved over the next 581 00:34:06,800 --> 00:34:10,640 Speaker 1: couple of days in Hanoi? That UM, the United States 582 00:34:11,080 --> 00:34:14,759 Speaker 1: UM needs to be their needs to provide the prestige 583 00:34:14,840 --> 00:34:18,200 Speaker 1: the platform. Again to Kim Jong un, And at the 584 00:34:18,280 --> 00:34:22,640 Speaker 1: point when I'm not sure we are in our strongest positions, 585 00:34:23,040 --> 00:34:24,880 Speaker 1: I hear you on that. But when I asked that 586 00:34:24,960 --> 00:34:30,520 Speaker 1: question to others UH in the nuclear community or Republicans 587 00:34:30,560 --> 00:34:32,600 Speaker 1: who are supportive of the president, they say, well, you know, 588 00:34:33,080 --> 00:34:35,920 Speaker 1: at least at least there's dialogue, at least there's talking. 589 00:34:36,239 --> 00:34:38,480 Speaker 1: No one, you know, this was Kim Jong n was, 590 00:34:38,840 --> 00:34:41,719 Speaker 1: you know, on a collision course by himself. I mean, 591 00:34:41,719 --> 00:34:45,160 Speaker 1: no one was engaging with him. Uh. And that's their side. 592 00:34:45,360 --> 00:34:48,040 Speaker 1: I want to stick with Michael Cohen though, for for 593 00:34:48,080 --> 00:34:51,120 Speaker 1: a second longer, because it really is the one of 594 00:34:51,120 --> 00:34:54,080 Speaker 1: the dominating domestic stories back in the States. And Shannon 595 00:34:54,560 --> 00:34:57,360 Speaker 1: your peace just so, I mean when I read it, 596 00:34:57,400 --> 00:35:00,960 Speaker 1: I was like I forgot about that um at about 597 00:35:01,000 --> 00:35:04,279 Speaker 1: just how much you mentioned Helsinki. I remember being over 598 00:35:04,320 --> 00:35:07,560 Speaker 1: there and and it it was quite you know, interesting, 599 00:35:07,600 --> 00:35:09,560 Speaker 1: for lack of a better term. I do want to 600 00:35:09,560 --> 00:35:12,560 Speaker 1: play for you, though, what Senator Joe Mansion, a centrist 601 00:35:12,600 --> 00:35:16,560 Speaker 1: Democrat from West Virginia, had to say, because this Michael 602 00:35:16,560 --> 00:35:20,719 Speaker 1: Cohen was it was literally convicted of lying and this 603 00:35:20,800 --> 00:35:25,279 Speaker 1: notion of why should people why should people believe him anymore? Uh, 604 00:35:25,320 --> 00:35:27,360 Speaker 1: that's that's a question that keeps getting Out's here, Senator 605 00:35:27,400 --> 00:35:30,160 Speaker 1: Joe Mansion earlier, take a listen, Well, here's no reason 606 00:35:30,200 --> 00:35:33,320 Speaker 1: to lie again. That's not going to be helpful to 607 00:35:33,400 --> 00:35:35,080 Speaker 1: him to lie again. And he's admitted he his live 608 00:35:36,120 --> 00:35:40,080 Speaker 1: that was Senator Joe Mansion earlier today up on Capitol Hill. So, so, Shannon, 609 00:35:40,200 --> 00:35:43,320 Speaker 1: is that good enough? I mean, the president has successfully 610 00:35:43,440 --> 00:35:47,360 Speaker 1: framed at least for Republicans and even some other people 611 00:35:47,360 --> 00:35:51,520 Speaker 1: looking at Michael Cohen and questioning his his honesty. Well, 612 00:35:51,760 --> 00:35:53,560 Speaker 1: I mean, there's certainly the argument to make that he 613 00:35:53,600 --> 00:35:56,600 Speaker 1: knows the consequences of lying to Congress now and that 614 00:35:56,800 --> 00:35:58,759 Speaker 1: if you you know, you do it, you will be 615 00:35:58,920 --> 00:36:02,359 Speaker 1: caught and punished for it. Um, he has some advantages 616 00:36:02,400 --> 00:36:06,120 Speaker 1: to not lie now because, um, you know if if well, 617 00:36:06,200 --> 00:36:07,799 Speaker 1: first of all, if he lies to Congress, he get 618 00:36:07,960 --> 00:36:10,600 Speaker 1: his sentence extended, and he probably doesn't want that anymore. 619 00:36:10,600 --> 00:36:12,120 Speaker 1: But you know, it could also kind of hurt his 620 00:36:12,200 --> 00:36:16,040 Speaker 1: cooperation and the deals that he has um with other prosecutors. 621 00:36:16,640 --> 00:36:19,000 Speaker 1: But of course the Republicans are going to try and 622 00:36:19,040 --> 00:36:21,439 Speaker 1: attack him on three fronts. Is the sense that we've 623 00:36:21,440 --> 00:36:24,160 Speaker 1: gotten one his credibility for having lied to Congress before. 624 00:36:24,560 --> 00:36:26,640 Speaker 1: Uh two, we think that they're just going to attack 625 00:36:26,640 --> 00:36:29,000 Speaker 1: his character in general and try and bring up some 626 00:36:29,080 --> 00:36:32,080 Speaker 1: of his shady business dealings, this lobbying work that he 627 00:36:32,160 --> 00:36:34,440 Speaker 1: did in the early days of the administration and question 628 00:36:34,520 --> 00:36:37,080 Speaker 1: him about that to sort of steer the subject away 629 00:36:37,080 --> 00:36:39,759 Speaker 1: from the president. Um. And three, I think there's gonna 630 00:36:39,760 --> 00:36:41,560 Speaker 1: be an attempt to sort of turn him into a 631 00:36:41,600 --> 00:36:45,239 Speaker 1: coffee boy type figure and try and make him he 632 00:36:45,360 --> 00:36:50,400 Speaker 1: really wasn't this integral piece um in Donald Trump's universe 633 00:36:50,480 --> 00:36:52,440 Speaker 1: the way Democrats are going to want to portray him, 634 00:36:52,560 --> 00:36:54,200 Speaker 1: And that's just not true by the way I mean, 635 00:36:54,320 --> 00:36:57,960 Speaker 1: I mean, having covered the Trump campaign virtually since its inception, 636 00:36:58,000 --> 00:36:59,960 Speaker 1: Michael Colin was a fixer. He was. He was an 637 00:37:00,000 --> 00:37:02,719 Speaker 1: intricate part of the inner workings of the Trump He 638 00:37:03,320 --> 00:37:06,320 Speaker 1: was paying off mistress as he wasn't getting coffee. Um. 639 00:37:06,360 --> 00:37:08,120 Speaker 1: So I mean, I don't know if he was in 640 00:37:08,239 --> 00:37:10,840 Speaker 1: charge of the you know, the chief He wasn't the 641 00:37:10,880 --> 00:37:14,279 Speaker 1: chief financial officer of Trump Org. But he certainly wasn't um, 642 00:37:14,320 --> 00:37:17,200 Speaker 1: you know, wasn't someone on the complete outer skirts of this. Uh. 643 00:37:17,680 --> 00:37:21,400 Speaker 1: Everybody needs to go reach Innon's peace because the split 644 00:37:21,480 --> 00:37:24,879 Speaker 1: screen that everyone will watch on cable uh tonight after 645 00:37:24,920 --> 00:37:26,799 Speaker 1: their drive home from work is is going to be 646 00:37:26,880 --> 00:37:28,879 Speaker 1: quite remarkable. I will level with you, though no one's 647 00:37:28,920 --> 00:37:31,879 Speaker 1: really talking about it here in Hannoi, where I'm broadcasting 648 00:37:31,920 --> 00:37:34,839 Speaker 1: from top of the old gallery classy hotel. Just a 649 00:37:34,840 --> 00:37:38,319 Speaker 1: few blocks from Juan Kim Lake in central Hannoy. I 650 00:37:38,360 --> 00:37:40,920 Speaker 1: do want to touch on some positive news, which is 651 00:37:40,960 --> 00:37:44,080 Speaker 1: that the economy seems to be holding up fairly well. 652 00:37:44,200 --> 00:37:47,600 Speaker 1: Fed Chairman Jerome Powell said that the economy was quote 653 00:37:47,680 --> 00:37:50,799 Speaker 1: unquote healthy, but he was a bit cautious about quote 654 00:37:50,880 --> 00:37:55,919 Speaker 1: unquote cross currents and conflicting signals. The stocks didn't really 655 00:37:55,960 --> 00:37:59,840 Speaker 1: move on his testimony before the Senate Banking Committee or 656 00:38:00,080 --> 00:38:04,400 Speaker 1: leaguer on Tuesday in US times. See I'm in a 657 00:38:04,440 --> 00:38:07,879 Speaker 1: different country, different time zone. Fetch. Chair j pals Cann 658 00:38:08,000 --> 00:38:13,200 Speaker 1: testify on Wednesday in America time before the House Financial 659 00:38:13,719 --> 00:38:18,160 Speaker 1: Services Committee. You know here I am in Hannoi. Brett 660 00:38:18,200 --> 00:38:22,760 Speaker 1: and Shannon and uh, I gotta be honest. I was struck. 661 00:38:23,239 --> 00:38:25,400 Speaker 1: But Shannon, have you did you travel? Have you been 662 00:38:25,440 --> 00:38:27,719 Speaker 1: to Vietnam? If either of you been to Vietnam, we 663 00:38:27,800 --> 00:38:30,480 Speaker 1: have not, but I've been watching everyone's Instagram photos, all 664 00:38:30,480 --> 00:38:32,759 Speaker 1: my friends over there, and I will be traveling there, 665 00:38:33,120 --> 00:38:36,040 Speaker 1: I think. Okay. The food here, by the way, I 666 00:38:36,080 --> 00:38:40,040 Speaker 1: had a bond me. It's called it's like a Vietnamese HOGI. 667 00:38:40,320 --> 00:38:41,920 Speaker 1: As you guys know, I grew uputside of Philly and 668 00:38:41,960 --> 00:38:45,600 Speaker 1: it's like this, the food here and the scooons. Brett. Brett, 669 00:38:45,600 --> 00:38:49,479 Speaker 1: by the way, has been all over the world. Where 670 00:38:49,480 --> 00:38:52,040 Speaker 1: does Vietnam? And like the thirty seconds or so that 671 00:38:52,080 --> 00:38:55,399 Speaker 1: we have left. Why Vietnam? Why am I in Vietnam? Well? 672 00:38:55,440 --> 00:38:58,720 Speaker 1: I think it's because Trump wants to tell a story 673 00:38:58,760 --> 00:39:01,840 Speaker 1: to Kim Jong un. We were at war with Vietnam, 674 00:39:02,160 --> 00:39:05,160 Speaker 1: we are now at piece. They are prospering. You two 675 00:39:05,360 --> 00:39:09,480 Speaker 1: can enjoy this kind of situation if you make confessions. 676 00:39:09,760 --> 00:39:11,400 Speaker 1: But you know, I would add to that piece of 677 00:39:11,440 --> 00:39:13,800 Speaker 1: the story. Who knows who the leader of Vietnam is? 678 00:39:13,920 --> 00:39:17,120 Speaker 1: I mean in America? Um, it's the president of the 679 00:39:17,200 --> 00:39:19,200 Speaker 1: United States traveling all the way there to meet with 680 00:39:19,239 --> 00:39:21,279 Speaker 1: the leader of Vietnam as the leader of Vietnam into 681 00:39:21,280 --> 00:39:23,200 Speaker 1: the White House, you know. So there's also that to 682 00:39:23,280 --> 00:39:25,640 Speaker 1: keep in mind. You get your nuclear weapons and you're 683 00:39:25,840 --> 00:39:28,000 Speaker 1: just the leader of a country and no one knows 684 00:39:28,000 --> 00:39:31,480 Speaker 1: your name. Shannon Petty Piece Sploomberg News, White House reporter, 685 00:39:31,600 --> 00:39:34,160 Speaker 1: everyone knows her name. And Brett Bruin, president of the 686 00:39:34,200 --> 00:39:37,600 Speaker 1: Global Situation Room and former White House Director of Global 687 00:39:37,640 --> 00:39:40,760 Speaker 1: Engagement for the Obama administration. Thank you, both, my friends, 688 00:39:40,800 --> 00:39:43,719 Speaker 1: for for joining me. On the special edition of sound On. 689 00:39:44,200 --> 00:39:46,600 Speaker 1: You can download the Sound On podcasts on Apple iTunes, 690 00:39:46,600 --> 00:39:49,680 Speaker 1: a Bloomberg dot Com, or the Bloomberg Business app. You 691 00:39:49,719 --> 00:39:52,000 Speaker 1: can also find us on Radio dot com and I 692 00:39:52,120 --> 00:39:56,280 Speaker 1: Heart Radio. I'm Kevin crelli On broadcasting from Hanoi, Vietnam. 693 00:39:56,480 --> 00:40:01,040 Speaker 1: All week you're listening to sound On. This is Bloomberg