1 00:00:00,360 --> 00:00:03,080 Speaker 1: Live from our nation's came this budget thing is going 2 00:00:03,120 --> 00:00:05,560 Speaker 1: to do nothing space forces. I still think it's interesting 3 00:00:05,600 --> 00:00:08,920 Speaker 1: President Trump not playing his cards yet. Headlines policy and 4 00:00:09,080 --> 00:00:14,480 Speaker 1: politics colliding to sound with Kevin's really the insiders, the influencers, 5 00:00:14,640 --> 00:00:17,440 Speaker 1: the insides. I would rather see a congressional solution. It's 6 00:00:17,480 --> 00:00:20,360 Speaker 1: part of my DNA. The Senate map in looks a 7 00:00:20,440 --> 00:00:22,759 Speaker 1: lot different than it looked in. You really have a 8 00:00:22,760 --> 00:00:26,079 Speaker 1: divide within Team Trump. The President has to do exactly 9 00:00:26,120 --> 00:00:27,639 Speaker 1: what people send him here to do, which is to 10 00:00:27,680 --> 00:00:31,280 Speaker 1: get it done. Is he's sound on with Kevin's relate 11 00:00:31,560 --> 00:00:35,519 Speaker 1: on Bloomberg one and one Oh fie m h D 12 00:00:35,640 --> 00:00:41,000 Speaker 1: two Baltimore buckle up. A major trade shift in US 13 00:00:41,120 --> 00:00:47,080 Speaker 1: China trade relationships headlines crossing the Bloomberg Terminal as we speak, 14 00:00:47,120 --> 00:00:51,800 Speaker 1: within the last sixties seconds, Treasury Secretary Stephen Manusian telling 15 00:00:51,840 --> 00:00:55,880 Speaker 1: reporters that China trade talks saw a big change in 16 00:00:56,000 --> 00:00:59,959 Speaker 1: direction and not the direction that Wall Street paraphrasing now, 17 00:01:00,640 --> 00:01:02,520 Speaker 1: not the direction that Wall Street have an advocating for, 18 00:01:02,680 --> 00:01:08,280 Speaker 1: because the US is set to increase China tariffs on Friday, 19 00:01:08,440 --> 00:01:11,880 Speaker 1: headline crossing the Bloomberg Terminal within the last nine seconds. 20 00:01:12,200 --> 00:01:16,720 Speaker 1: The US is set to increase China tariffs on Friday. 21 00:01:16,760 --> 00:01:19,560 Speaker 1: This doubling down and what President Trump had tweeted over 22 00:01:19,560 --> 00:01:23,920 Speaker 1: the weekend, according to Treasury Secretary Stephen Manusian and US 23 00:01:24,000 --> 00:01:28,160 Speaker 1: Trade Representative Bob Lightheizer, the traders, as the President refers 24 00:01:28,200 --> 00:01:31,480 Speaker 1: to them, as they were in Beijing last week. They're 25 00:01:31,520 --> 00:01:35,400 Speaker 1: back and now it looks like these trade talks are 26 00:01:35,440 --> 00:01:39,160 Speaker 1: set to escalate. We have the latest. We will dive 27 00:01:39,240 --> 00:01:42,680 Speaker 1: into the politics the policy. We have every which angle 28 00:01:43,200 --> 00:01:46,000 Speaker 1: covered on what it means from the business perspective as 29 00:01:46,040 --> 00:01:51,320 Speaker 1: well as up on Capitol Hill meanwhire. Meanwhile, UH, the 30 00:01:51,560 --> 00:01:56,280 Speaker 1: ongoing saga with the Judiciary Committee members, including House Judiciary 31 00:01:56,280 --> 00:02:01,080 Speaker 1: Committee Chairman Jerry Nadler, a Democrat from New York. Can 32 00:02:01,160 --> 00:02:05,480 Speaker 1: he get Special Counsel Bob Mueller to testify. I'll bring 33 00:02:05,480 --> 00:02:08,160 Speaker 1: you the latest on that front to I'm Kevin Cirelli, 34 00:02:08,240 --> 00:02:11,720 Speaker 1: Chief Washington Course Onit for Bloomberg Television and Bloomberg Radio. 35 00:02:11,880 --> 00:02:15,680 Speaker 1: My guests with me for the hour in studio. Molly Mitchell, 36 00:02:15,800 --> 00:02:20,280 Speaker 1: director at Hamilton's Place Strategy. She's also the former Democratic 37 00:02:20,560 --> 00:02:25,200 Speaker 1: Congressional Campaign Committee director of Media Affairs and mc gorman 38 00:02:25,760 --> 00:02:29,040 Speaker 1: he is the vice president at Targeted Victory and the 39 00:02:29,080 --> 00:02:34,160 Speaker 1: former NRCC communications director, So Molly and Matt they're used 40 00:02:34,160 --> 00:02:37,960 Speaker 1: to going at it politically. It's like a blast from 41 00:02:38,000 --> 00:02:41,639 Speaker 1: the past and probably a glimpse into the future. But 42 00:02:41,720 --> 00:02:44,400 Speaker 1: before all of that, let's first get a look on 43 00:02:44,440 --> 00:02:48,640 Speaker 1: the headlines from Nancy Lions Nancy Thanks Kevin Well. President 44 00:02:48,639 --> 00:02:51,520 Speaker 1: Trump's ex lawyer and fixer, has begun serving his three 45 00:02:51,600 --> 00:02:55,920 Speaker 1: year prison sentence for crimes, including campaign finance violations related 46 00:02:55,919 --> 00:03:00,080 Speaker 1: to hush money payments made on Trump's behalf Michael and 47 00:03:00,240 --> 00:03:03,359 Speaker 1: arrived earlier today at the federal prison in Otisville, New York. 48 00:03:03,440 --> 00:03:06,600 Speaker 1: That's about seventy miles northwest of the Big Apple. He 49 00:03:06,639 --> 00:03:09,600 Speaker 1: spoke to reporters though as he left his Manhattan apartment, 50 00:03:10,320 --> 00:03:15,040 Speaker 1: I hope that when I rejoined my family and friends, 51 00:03:15,080 --> 00:03:18,680 Speaker 1: that the country will be in a place without xenophobia, 52 00:03:19,360 --> 00:03:24,119 Speaker 1: injustice and lies at the helm of our country. There 53 00:03:24,200 --> 00:03:28,360 Speaker 1: still remains much to be told. Nearly four hundred former 54 00:03:28,400 --> 00:03:31,280 Speaker 1: federal prosecutors have signed onto a letter saying that President 55 00:03:31,320 --> 00:03:35,000 Speaker 1: Trump would have been charged with obstruction of justice if 56 00:03:35,000 --> 00:03:37,680 Speaker 1: he were anyone other than the president. The letter was 57 00:03:37,720 --> 00:03:41,559 Speaker 1: signed by Justice Department prosecutors who served under both Democratic 58 00:03:41,640 --> 00:03:46,000 Speaker 1: and Republican administrations. U S Secretary of State Mike Pompeo 59 00:03:46,120 --> 00:03:49,800 Speaker 1: says the Trump administration is intensifying pressure to get Iran 60 00:03:49,880 --> 00:03:52,840 Speaker 1: to behave like a normal nation. He spoke after the 61 00:03:52,880 --> 00:03:56,080 Speaker 1: administration's decision to move an aircraft carrier group to the 62 00:03:56,120 --> 00:03:58,840 Speaker 1: Middle East in response to what it said, we're threats 63 00:03:58,880 --> 00:04:02,120 Speaker 1: of a possible Irani attack on US or allied interests. 64 00:04:02,360 --> 00:04:05,760 Speaker 1: We have continued to see activity that leads us to 65 00:04:05,800 --> 00:04:08,880 Speaker 1: believe that there's escalation that may be taking place, and 66 00:04:08,920 --> 00:04:11,440 Speaker 1: so we're taking all the appropriate actions, both from a 67 00:04:11,480 --> 00:04:15,120 Speaker 1: security perspective and well as um our ability to make 68 00:04:15,160 --> 00:04:16,920 Speaker 1: sure that the President has a wide range of options 69 00:04:16,920 --> 00:04:18,919 Speaker 1: and they meant that something should actually take place. The 70 00:04:19,000 --> 00:04:21,640 Speaker 1: US has ordered the US has Abraham Lincoln Carrier Strike 71 00:04:21,680 --> 00:04:23,760 Speaker 1: Group to move to the Middle East, about two weeks 72 00:04:23,760 --> 00:04:27,360 Speaker 1: ahead of schedule. Players on the West Point football team 73 00:04:27,400 --> 00:04:29,960 Speaker 1: received the Commander in Chief Trophy today at the White House. 74 00:04:30,000 --> 00:04:33,080 Speaker 1: Their coach, Jeff Monkin, was thrilled for the opportunity. We 75 00:04:33,160 --> 00:04:36,320 Speaker 1: thank you for inviting America's team here to the White House, 76 00:04:36,320 --> 00:04:38,800 Speaker 1: to our nation's capital once again for the second straight year, 77 00:04:38,800 --> 00:04:41,560 Speaker 1: except the Commander in Chiefs Trophy, which we consider the 78 00:04:41,600 --> 00:04:44,520 Speaker 1: most coveted award in college football. The Army Black Knights 79 00:04:44,560 --> 00:04:47,159 Speaker 1: received the trophy for defeating both the Air Force and 80 00:04:47,279 --> 00:04:52,200 Speaker 1: Navy football teams. Maryland's favorite delicacy appears to be on 81 00:04:52,200 --> 00:04:54,880 Speaker 1: the rebound. We get more on that from Bloomberg's Nathan Hagar. 82 00:04:55,200 --> 00:04:58,120 Speaker 1: Juvenile crabs and the Chesapeake Bay are nearly twice as 83 00:04:58,160 --> 00:05:00,880 Speaker 1: plentiful as they were a year ago. The Baltimore Sun 84 00:05:00,880 --> 00:05:04,200 Speaker 1: reports the latest annual Bay crab population survey counts nearly 85 00:05:04,320 --> 00:05:07,640 Speaker 1: six hundred million crabs, a hundred ninety million of which 86 00:05:07,680 --> 00:05:11,839 Speaker 1: are spawning aged females, a t increase from the previous winter. 87 00:05:12,200 --> 00:05:15,200 Speaker 1: The Maryland Department of Natural Resources says the female blue 88 00:05:15,240 --> 00:05:18,440 Speaker 1: crab count is close to target, the juvenile population is 89 00:05:18,480 --> 00:05:21,960 Speaker 1: above average. In a statement, then, our Secretary Genie Hadaway 90 00:05:22,000 --> 00:05:25,560 Speaker 1: Ritchieo says the blue crab population is both healthy and thriving, 91 00:05:25,800 --> 00:05:28,799 Speaker 1: which is great news for the entire bay. Nathan Hagar, 92 00:05:28,839 --> 00:05:31,960 Speaker 1: Bloomberg and one oh five point seven f m HD 93 00:05:32,080 --> 00:05:36,520 Speaker 1: two's time now for the Beltwait Business Report. For that, 94 00:05:36,560 --> 00:05:39,800 Speaker 1: we go to Bloomberg's Larry Kovsky Well Nancy stocks began 95 00:05:39,880 --> 00:05:42,520 Speaker 1: the session with a sharp sell off after President Trump 96 00:05:42,520 --> 00:05:45,480 Speaker 1: threatened to escalate the U. S. China trade war, but 97 00:05:45,640 --> 00:05:48,240 Speaker 1: the market reversed most of its losses by the close. 98 00:05:48,560 --> 00:05:52,800 Speaker 1: Did Jones Industrial Average humbold six six. The SMP five 99 00:05:52,880 --> 00:05:56,960 Speaker 1: hundred slipped thirteen then, as dot composite fell forty cheers 100 00:05:56,960 --> 00:05:59,320 Speaker 1: of a I G are sharply higher. In late trading, 101 00:05:59,400 --> 00:06:02,880 Speaker 1: the insure snapped the six quarter losing streak, posting a 102 00:06:02,920 --> 00:06:06,039 Speaker 1: first quarter profit of nearly one point three billion dollars. 103 00:06:06,400 --> 00:06:10,039 Speaker 1: Earnings more than doubled from a year ago, beating expectations 104 00:06:10,600 --> 00:06:13,719 Speaker 1: The rich get richard. The government says most US households 105 00:06:13,720 --> 00:06:17,719 Speaker 1: saw higher incomes last year, only the bottom twenty was 106 00:06:17,800 --> 00:06:21,520 Speaker 1: left behind, seeing a two point two percent decline. Lift 107 00:06:21,560 --> 00:06:24,200 Speaker 1: fell three percent to begin a crucial week. The company 108 00:06:24,240 --> 00:06:27,679 Speaker 1: is set to report its quarterly results tomorrow, while rival 109 00:06:27,839 --> 00:06:30,600 Speaker 1: Uber is expected to make its Wall Street debut later 110 00:06:30,720 --> 00:06:33,640 Speaker 1: this week. Ride sharing drivers are planning a two hour 111 00:06:33,760 --> 00:06:38,279 Speaker 1: strike on Wednesday. The Bloomberg Washington d C. Area stock 112 00:06:38,360 --> 00:06:41,719 Speaker 1: index fell four tents of one percent Europe to date. 113 00:06:41,760 --> 00:06:44,719 Speaker 1: On business from the Beltway to Baltimore, I'm Larry Kofsky 114 00:06:45,120 --> 00:06:47,799 Speaker 1: This is Bloomberg N one and one oh five point 115 00:06:47,880 --> 00:06:51,640 Speaker 1: seven f m HD two, Thanks Larry. Global News twenty 116 00:06:51,640 --> 00:06:54,480 Speaker 1: four hours a day on air and at TikTok on Twitter, 117 00:06:54,560 --> 00:06:57,400 Speaker 1: powered by more than twenty seven hundred journalists and analysts 118 00:06:57,440 --> 00:07:00,200 Speaker 1: in more than a hundred and twenty countries. I'm see 119 00:07:00,240 --> 00:07:02,880 Speaker 1: lions now back to you, Kevin in that big trade story, 120 00:07:03,200 --> 00:07:06,760 Speaker 1: breaking news tonight, Nancy. The headlines crossing the Bloomberg terminal. 121 00:07:06,800 --> 00:07:10,440 Speaker 1: Within the last ten minutes or so, President Donald Trump's 122 00:07:10,440 --> 00:07:14,880 Speaker 1: top trade negotiators say the US plans to raise tariffs 123 00:07:14,880 --> 00:07:19,440 Speaker 1: on Chinese goods on Friday. They have accused Beijing of 124 00:07:19,560 --> 00:07:24,800 Speaker 1: back pedaling on commitments it made during negotiations. A Chinese 125 00:07:24,800 --> 00:07:29,320 Speaker 1: delegation is coming what their set siccomb to the US 126 00:07:29,800 --> 00:07:34,520 Speaker 1: on Thursday and Friday. This according to US trade representative 127 00:07:34,560 --> 00:07:38,320 Speaker 1: Bob Leitheizer. He told reporters that just within the last hour, 128 00:07:38,440 --> 00:07:41,720 Speaker 1: I'm gonna bring you the news as it happens, as 129 00:07:41,760 --> 00:07:45,280 Speaker 1: we sort through the politics and the policy of this. 130 00:07:45,680 --> 00:07:50,000 Speaker 1: I'm joined in studio for the hour by Molly Mitchell. 131 00:07:50,040 --> 00:07:52,640 Speaker 1: It's her first time on the program. She is director 132 00:07:52,720 --> 00:07:56,560 Speaker 1: at Hamilton's Place Strategies, but she's the former Democratic Congressional 133 00:07:56,600 --> 00:08:00,840 Speaker 1: Campaign Committee director UH and Matt Gorman, a friend of 134 00:08:00,840 --> 00:08:04,080 Speaker 1: the program. He's a vice president at Targeted Victory. He's 135 00:08:04,120 --> 00:08:09,000 Speaker 1: the former NRCC communications director. Molly. I'll start with you 136 00:08:09,080 --> 00:08:12,760 Speaker 1: because when you look at how this trade story has 137 00:08:12,800 --> 00:08:16,240 Speaker 1: played out within the last forty eight hours, in particular 138 00:08:16,680 --> 00:08:20,600 Speaker 1: seeing President Trump tweet on Sunday and then doubling down 139 00:08:20,600 --> 00:08:24,880 Speaker 1: this morning signaling that he is going to increase teriffs, 140 00:08:25,440 --> 00:08:28,920 Speaker 1: this goes against what Beijing wants. It also goes against 141 00:08:28,960 --> 00:08:32,840 Speaker 1: what Republicans wants. No, it's it's really interesting because I 142 00:08:32,880 --> 00:08:37,320 Speaker 1: think strategically this is ironically sort of a bipartisan issue. 143 00:08:37,360 --> 00:08:40,319 Speaker 1: We saw Chuck Schumer tweet out basically at a boy 144 00:08:40,360 --> 00:08:43,240 Speaker 1: at President Trump and really hang in there with China 145 00:08:43,280 --> 00:08:45,840 Speaker 1: that you have to be tough. And I think obviously 146 00:08:45,880 --> 00:08:48,240 Speaker 1: President Trump feels like he has the upper hand, that 147 00:08:48,320 --> 00:08:50,959 Speaker 1: the economy is strong, the markets are really strong, and 148 00:08:51,000 --> 00:08:53,079 Speaker 1: that he can double down. And I think it sort 149 00:08:53,080 --> 00:08:56,400 Speaker 1: of plays out differently along political lines. If you're in 150 00:08:56,480 --> 00:08:58,760 Speaker 1: Iowa and you're a farmer, this may not be really 151 00:08:58,880 --> 00:09:02,040 Speaker 1: great for you, you know, But for other people, UH 152 00:09:02,120 --> 00:09:04,560 Speaker 1: in Pennsylvania and Michigan, I think they really like the 153 00:09:04,600 --> 00:09:07,080 Speaker 1: doubling down on China. So it's gonna be interesting. Not 154 00:09:07,120 --> 00:09:10,400 Speaker 1: a lot of have responded to this yet, but how 155 00:09:10,520 --> 00:09:13,440 Speaker 1: the people running against him respond. But when you look 156 00:09:13,440 --> 00:09:17,160 Speaker 1: at the pressure within the Republican Party to not have tariffs, 157 00:09:17,200 --> 00:09:19,920 Speaker 1: I mean last week we had the CEO on from 158 00:09:19,920 --> 00:09:23,280 Speaker 1: Gregory's Coffee, for example, and he said that it's not 159 00:09:23,360 --> 00:09:26,320 Speaker 1: just a big business story, it's also a small business story. 160 00:09:26,400 --> 00:09:29,960 Speaker 1: Everything from commodities in particular, it's having an impact on 161 00:09:30,040 --> 00:09:34,480 Speaker 1: supply chains. It's impacting the paper cup to make coffee. 162 00:09:34,480 --> 00:09:39,760 Speaker 1: It's obviously impacting large businesses. It's obviously impacting steal and 163 00:09:39,800 --> 00:09:43,040 Speaker 1: aluminum tariffs and whatnot on a host of different trade fronts, 164 00:09:43,080 --> 00:09:48,480 Speaker 1: but specifically with China. Can the President continue to raise 165 00:09:48,679 --> 00:09:54,280 Speaker 1: tariffs without risking alienating Republicans in his own party? I 166 00:09:54,280 --> 00:09:56,120 Speaker 1: think it's two fold. Number one, of the short term, 167 00:09:56,160 --> 00:09:58,520 Speaker 1: they're gonna say, you're gonna see the street react to this. 168 00:09:58,640 --> 00:10:01,719 Speaker 1: In the short term, I think them coming on Fridays. 169 00:10:01,800 --> 00:10:04,360 Speaker 1: This is gonna be a negotiating tactic in a long term. 170 00:10:04,640 --> 00:10:08,000 Speaker 1: But when you talk about the party, for the most part, 171 00:10:08,400 --> 00:10:11,200 Speaker 1: you know, fortunately or unfortunately, I think freak traders have 172 00:10:11,320 --> 00:10:15,079 Speaker 1: really become a distinct minority in the party because of Trump. 173 00:10:15,400 --> 00:10:17,480 Speaker 1: I think what you're seeing now is kind of the 174 00:10:17,480 --> 00:10:19,480 Speaker 1: more protectionist wing of the party, at least when it 175 00:10:19,520 --> 00:10:22,600 Speaker 1: comes to China. Remember Romney and twelve when I worked 176 00:10:22,600 --> 00:10:26,000 Speaker 1: for him, was always very uh hawkish on China and 177 00:10:26,200 --> 00:10:28,720 Speaker 1: talking about currents and manipulation and the like. Now, in 178 00:10:28,760 --> 00:10:30,760 Speaker 1: the long term, you're right, you talk about the paper 179 00:10:30,760 --> 00:10:34,560 Speaker 1: cups and and and the small businesses. In the long term, 180 00:10:34,800 --> 00:10:38,520 Speaker 1: this needs to not affect the economy for President Trump 181 00:10:38,559 --> 00:10:42,720 Speaker 1: to be successful. Headlines crossing the Bloomberg Terminal now that 182 00:10:42,960 --> 00:10:46,040 Speaker 1: child that the US, according to President Trump, US Trade 183 00:10:46,080 --> 00:10:50,400 Speaker 1: Representative Bob Leightheiser, as well as Treasury Secretary Stephen Venusian 184 00:10:50,720 --> 00:10:55,360 Speaker 1: planning to increase tariffs on Friday, a doubling down of sorts. 185 00:10:55,400 --> 00:10:58,640 Speaker 1: This after a dramatic shift according to the nation's top 186 00:10:58,679 --> 00:11:02,800 Speaker 1: two trade negotiators in trade talks with the Chinese. The 187 00:11:02,920 --> 00:11:05,840 Speaker 1: state of the trade talks were cast into doubt after 188 00:11:05,880 --> 00:11:10,240 Speaker 1: President Trump's surprise announcement on Twitter on Sunday that He's 189 00:11:10,280 --> 00:11:14,920 Speaker 1: going to raise harriffs on two hundred billion dollars worth 190 00:11:15,400 --> 00:11:20,080 Speaker 1: of Chinese good to Currently it's at ten percent. Now 191 00:11:20,120 --> 00:11:24,040 Speaker 1: all of this is set to increase on Friday. The 192 00:11:24,080 --> 00:11:28,640 Speaker 1: President is also threatening an additional to impose duties on 193 00:11:28,720 --> 00:11:32,199 Speaker 1: additional three hundred and twenty five billion dollars worth of 194 00:11:32,280 --> 00:11:35,800 Speaker 1: Chinese goods that aren't currently covered and that would really 195 00:11:35,880 --> 00:11:40,040 Speaker 1: hit essentially all imports from the Asian nation. This according 196 00:11:40,080 --> 00:11:45,400 Speaker 1: to my colleague sewn Sean Donnan on the Bloomberg terminal. Uh, 197 00:11:45,520 --> 00:11:49,000 Speaker 1: my colleague Jonathan Pharaoh of Bloomberg Television and Bloomberg Radio 198 00:11:49,440 --> 00:11:54,080 Speaker 1: really alerting us to something that is something that also 199 00:11:54,120 --> 00:11:58,520 Speaker 1: caught my eye, which is you've got Treasury Secretary Manution 200 00:11:59,320 --> 00:12:03,679 Speaker 1: u s Trade Representative Bob Lightheizer talking to reporters within 201 00:12:03,720 --> 00:12:10,000 Speaker 1: the last hour and they did not say that they 202 00:12:10,000 --> 00:12:14,720 Speaker 1: have spoken to their counterpart, Chinese Vice Premier Hua within 203 00:12:14,760 --> 00:12:19,600 Speaker 1: the last twenty four hours. Wow. Wow, think about that. 204 00:12:20,000 --> 00:12:23,960 Speaker 1: Leo Hua is the top China negotiator of the nation's 205 00:12:24,040 --> 00:12:29,640 Speaker 1: top of the world's second largest economy behind the United States. 206 00:12:29,679 --> 00:12:35,199 Speaker 1: He's like the Treasury Secretary of China. President Trump tweets Sunday, 207 00:12:35,679 --> 00:12:39,760 Speaker 1: you get these major major developments. Obviously there are back 208 00:12:39,880 --> 00:12:44,920 Speaker 1: channel negotiations going on, but Molly Mitchell, they're not even 209 00:12:45,120 --> 00:12:48,160 Speaker 1: talking to the counterpart. What does that tell you about 210 00:12:48,160 --> 00:12:50,920 Speaker 1: the state of play. I think that tells us that 211 00:12:51,000 --> 00:12:53,800 Speaker 1: Trump really feels like they have the upper hand. I 212 00:12:53,840 --> 00:12:56,200 Speaker 1: feel like they think that. I think really, to Matt's 213 00:12:56,240 --> 00:12:58,640 Speaker 1: point earlier, he really hit the nail on the head right. 214 00:12:58,679 --> 00:13:01,600 Speaker 1: If he if it, if it's if it's affects the 215 00:13:01,640 --> 00:13:04,560 Speaker 1: street for a short term and long term it goes well, 216 00:13:04,679 --> 00:13:07,160 Speaker 1: then Trump this is perfect. This really plays to his 217 00:13:07,240 --> 00:13:09,679 Speaker 1: base on being Trump on China, and it's great for 218 00:13:09,760 --> 00:13:12,480 Speaker 1: him for re election prospects. I think if it doesn't, 219 00:13:12,520 --> 00:13:15,000 Speaker 1: then it's not you know, I don't know that because 220 00:13:15,000 --> 00:13:17,280 Speaker 1: when I talked to Republicans up on Capitol Hill, I 221 00:13:17,280 --> 00:13:21,120 Speaker 1: mean whether it's sena Finance Committee Chairman Chuck Grassley or 222 00:13:21,160 --> 00:13:24,400 Speaker 1: even the likes of Senator Kevin Kramer. I mean these 223 00:13:24,400 --> 00:13:28,040 Speaker 1: are Republicans. I mean they are getting hammered by the 224 00:13:28,080 --> 00:13:31,360 Speaker 1: business community not to have these terfts. This is not 225 00:13:31,480 --> 00:13:35,880 Speaker 1: the direction heading into the final lap that we had anticipated. 226 00:13:35,880 --> 00:13:37,800 Speaker 1: And I'm telling you, I have like the ghost of 227 00:13:37,880 --> 00:13:41,640 Speaker 1: Milken casting a shadow over this whole conversation. Because there 228 00:13:41,679 --> 00:13:44,319 Speaker 1: was a headline last week from the President's Chief of 229 00:13:44,320 --> 00:13:47,040 Speaker 1: Staff McK mulvaney, and he said, we're gonna know one 230 00:13:47,040 --> 00:13:48,840 Speaker 1: way or another in the next couple of weeks whether 231 00:13:48,920 --> 00:13:50,760 Speaker 1: or not there's going to be a deal. That was 232 00:13:50,800 --> 00:13:54,280 Speaker 1: a very slight shift, but it was a shift nonetheless 233 00:13:54,880 --> 00:13:58,480 Speaker 1: in terms of uh, it looked like the president in 234 00:13:58,600 --> 00:14:00,640 Speaker 1: China they wanted to get to some type of deal, 235 00:14:01,120 --> 00:14:04,319 Speaker 1: but this was essentially almost a warning sign and a 236 00:14:04,440 --> 00:14:06,960 Speaker 1: bell of swords that said there might not ultimately be 237 00:14:07,040 --> 00:14:10,199 Speaker 1: a deal. Well, again, I think separating the negotiating tact 238 00:14:10,240 --> 00:14:12,880 Speaker 1: is from the reality. I think not talking to the 239 00:14:12,920 --> 00:14:15,520 Speaker 1: Treasury secretary but going to the press, I think that's 240 00:14:15,559 --> 00:14:17,920 Speaker 1: I would take that as a negotiating tactic. And you're right, 241 00:14:17,920 --> 00:14:19,560 Speaker 1: you want to talk about grass seas. Molly made a 242 00:14:19,600 --> 00:14:21,720 Speaker 1: good point. Of course, I was going to be hammered 243 00:14:21,760 --> 00:14:23,560 Speaker 1: by that, not just by the business people, by the 244 00:14:23,560 --> 00:14:26,720 Speaker 1: agricultural side of things. And and look, I think you're right, 245 00:14:26,800 --> 00:14:29,840 Speaker 1: Like if the tariffs start affecting the economy, that is 246 00:14:29,880 --> 00:14:32,920 Speaker 1: a huge problem for him in we saw, you know, 247 00:14:32,960 --> 00:14:35,440 Speaker 1: the great economic news on Friday. But if that starts 248 00:14:35,440 --> 00:14:38,080 Speaker 1: ticked down, the rationale for his re election starts becoming 249 00:14:38,120 --> 00:14:40,880 Speaker 1: more precarious. And also I think we can't lose sight 250 00:14:40,920 --> 00:14:44,560 Speaker 1: of the whole Mueller Bar fiasco. I mean, displays to 251 00:14:44,640 --> 00:14:48,040 Speaker 1: Trump's benefit if we're focused on China and the play 252 00:14:48,120 --> 00:14:51,280 Speaker 1: by playoff trained negotiations. I think this is a blessing 253 00:14:51,320 --> 00:14:54,840 Speaker 1: for Trump in many ways. Whether or not this negotiation 254 00:14:54,960 --> 00:14:57,120 Speaker 1: tactic will be fruitful, we'll have to wait and see. 255 00:14:57,280 --> 00:14:59,520 Speaker 1: We're gonna come back to the Sarah McGregor, my colleague. 256 00:14:59,600 --> 00:15:02,480 Speaker 1: She's like literally finishing hammering out stories for the Bloomberg 257 00:15:02,520 --> 00:15:05,240 Speaker 1: terminal as we speak. But she's gonna join us coming 258 00:15:05,360 --> 00:15:08,800 Speaker 1: up later on in the show. But we're we're gonna 259 00:15:08,840 --> 00:15:13,160 Speaker 1: talk about Mueller and Bar coming up. Molly Mitchell Stay. 260 00:15:13,240 --> 00:15:17,680 Speaker 1: She's director at Hamilton Place Strategies, former Democratic Congressional Campaign 261 00:15:17,720 --> 00:15:20,560 Speaker 1: Committee Director of Media Affairs, and mc gorman also stays 262 00:15:20,960 --> 00:15:25,160 Speaker 1: vice president at Targeted Victory and former NRCC Communications director 263 00:15:25,200 --> 00:15:28,320 Speaker 1: off Stay two. I'm Kevin SURRELLI Bloomberg Television and Radio 264 00:15:28,400 --> 00:15:32,920 Speaker 1: Chief Washington Correspondent. Download the Sound on podcast on Apple iTunes, 265 00:15:32,960 --> 00:15:36,640 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business App. 266 00:15:36,720 --> 00:15:38,960 Speaker 1: You can also find us on Radio dot com, I 267 00:15:39,040 --> 00:15:43,920 Speaker 1: Heart Radio, and Spotify. Happy Tariff Monday, You're listening to Bloomberg. 268 00:15:47,320 --> 00:15:51,520 Speaker 1: You're listening to Sound On with Kevin Currelly on Bloomberg 269 00:15:52,400 --> 00:15:54,520 Speaker 1: one and one oh five point seven of m h 270 00:15:54,680 --> 00:15:59,240 Speaker 1: D two Boltimore. There's still remains much to be called, 271 00:16:00,080 --> 00:16:02,360 Speaker 1: and I look forward to the day that I can 272 00:16:02,480 --> 00:16:06,920 Speaker 1: share the truth. That was Michael Cohen, the president's former 273 00:16:07,080 --> 00:16:12,040 Speaker 1: personal attorney and long time fixer. He went to jail today. 274 00:16:12,200 --> 00:16:16,280 Speaker 1: He of course, had pleaded guilty to eight counts total, 275 00:16:16,360 --> 00:16:19,800 Speaker 1: including five counts of tax evasion and one count of 276 00:16:19,880 --> 00:16:24,200 Speaker 1: making a false statement to a financial institution. He said 277 00:16:24,200 --> 00:16:28,480 Speaker 1: it to jail. He's got a three years sentence, a 278 00:16:28,560 --> 00:16:33,080 Speaker 1: thirty six month prison sentence at a federal prison called 279 00:16:33,160 --> 00:16:38,560 Speaker 1: fp C I Odistville, Otisville. Otisville. It's about seventy miles 280 00:16:38,600 --> 00:16:42,680 Speaker 1: northwest of the Big Apple in New York City. With 281 00:16:42,800 --> 00:16:45,240 Speaker 1: me for the hour. Molly Mitchell, director at Hambleton Place 282 00:16:45,280 --> 00:16:50,080 Speaker 1: Strategies and former Democratic Congressional Campaign Committee Director of Media Affairs. 283 00:16:50,360 --> 00:16:53,080 Speaker 1: Matt Gorman is a vice president at Targeted Victory. He's 284 00:16:53,120 --> 00:16:56,880 Speaker 1: a former n r c C communications director. Matt not 285 00:16:56,920 --> 00:17:00,720 Speaker 1: a good look now you look, but he's sharing UH 286 00:17:00,920 --> 00:17:03,960 Speaker 1: facility with Billy McFarland, a Firefest fame and the situation. 287 00:17:04,080 --> 00:17:07,280 Speaker 1: So I think what they need is the situation from 288 00:17:07,280 --> 00:17:09,720 Speaker 1: the from the Jersey Shore. They need some type of 289 00:17:09,760 --> 00:17:12,680 Speaker 1: reality show and they could probably pay back all people 290 00:17:12,720 --> 00:17:16,760 Speaker 1: that you know, I would host this reality show from Firefus. 291 00:17:16,880 --> 00:17:19,120 Speaker 1: They can. All the proceeds can go to that. I think, 292 00:17:19,600 --> 00:17:22,960 Speaker 1: by the way, my favorite documentary on the Netflix is 293 00:17:23,600 --> 00:17:27,240 Speaker 1: that documentary is better reduced. They paid the guy. I 294 00:17:27,240 --> 00:17:30,679 Speaker 1: don't I like journalism at I want to stick with this. 295 00:17:30,760 --> 00:17:32,160 Speaker 1: It's not a good look. It's not a good look 296 00:17:32,200 --> 00:17:34,320 Speaker 1: to have. And I do want to say, by the way, 297 00:17:34,359 --> 00:17:38,199 Speaker 1: this prison where Mike Santa tort Santorini, I think is 298 00:17:38,200 --> 00:17:45,800 Speaker 1: his last the fact, but also and also where Michael 299 00:17:45,840 --> 00:17:48,679 Speaker 1: Cohen Forbes named it one of the top ten cushiest 300 00:17:48,760 --> 00:17:52,639 Speaker 1: prisons in America. Wow, how do you research that? I 301 00:17:52,680 --> 00:17:57,560 Speaker 1: know that's true, but it's not a good look. Moss. No, no, 302 00:17:57,720 --> 00:18:00,720 Speaker 1: it's it's it's really bad. I mean the whole thing. 303 00:18:00,760 --> 00:18:04,000 Speaker 1: And then today that you know now President Trump doesn't 304 00:18:04,000 --> 00:18:06,800 Speaker 1: want Mueller to testify. I mean, it's as you brought 305 00:18:06,800 --> 00:18:09,400 Speaker 1: that up. Do you think I take it you disagree 306 00:18:09,400 --> 00:18:12,080 Speaker 1: with the president? I disagree, but I think this really 307 00:18:12,119 --> 00:18:16,080 Speaker 1: just showcases Trump's hole non compliance strategy. Here. He wants 308 00:18:16,119 --> 00:18:18,879 Speaker 1: to hammer home to his base that the Democrats are 309 00:18:18,880 --> 00:18:23,320 Speaker 1: investigating him and it's unfair. And then he'll stall and 310 00:18:23,440 --> 00:18:25,600 Speaker 1: ensue and and make sure that it tries to go 311 00:18:25,640 --> 00:18:29,600 Speaker 1: through the courts before it affects before anything, you know, 312 00:18:29,680 --> 00:18:32,720 Speaker 1: before we can see his tax returns. And I think 313 00:18:33,200 --> 00:18:36,439 Speaker 1: if the economy holds, that strategy could definitely help him. 314 00:18:36,480 --> 00:18:38,960 Speaker 1: Although it is interesting, going back to our earlier conversation, 315 00:18:39,200 --> 00:18:42,240 Speaker 1: the economy is great, the market is really strong, and 316 00:18:42,320 --> 00:18:44,520 Speaker 1: yet we're not talking about that. We're talking about tariffs 317 00:18:44,520 --> 00:18:46,480 Speaker 1: on China and other. What I what I just don't 318 00:18:46,600 --> 00:18:50,440 Speaker 1: understand here, Matt, is that to Molly's point on Friday, 319 00:18:50,480 --> 00:18:53,840 Speaker 1: the President says it's a ticket. Actually, let's let the 320 00:18:53,880 --> 00:18:57,040 Speaker 1: President speak for himself. Here's President Trump on Friday about 321 00:18:57,040 --> 00:19:00,159 Speaker 1: whether or not Special Counsel Bob Mueller should testify. Here is, 322 00:19:00,680 --> 00:19:03,399 Speaker 1: I don't know. That's up to our Attorney general, who 323 00:19:03,480 --> 00:19:06,200 Speaker 1: I think has done a fantastic job. So then signed 324 00:19:06,200 --> 00:19:09,680 Speaker 1: at the Times yesterday, sitting in the chair to getting 325 00:19:09,720 --> 00:19:12,200 Speaker 1: ready to go on on SNBC, and literally they get 326 00:19:12,200 --> 00:19:13,879 Speaker 1: in my ear and they're like, the President just tweeted 327 00:19:13,920 --> 00:19:18,640 Speaker 1: reversing his position on whether or not Bob Mueller should testify. 328 00:19:18,680 --> 00:19:22,760 Speaker 1: He tweeted on Sunday afternoon he says that that Bob 329 00:19:22,800 --> 00:19:26,840 Speaker 1: mother quote unquote should not testify before Congress. No redews 330 00:19:26,960 --> 00:19:29,760 Speaker 1: for the Dems. Why is he saying that? Man, I mean, 331 00:19:29,800 --> 00:19:31,840 Speaker 1: what is the political calculation here? Well, I think he 332 00:19:31,840 --> 00:19:34,520 Speaker 1: wants to get this off the front page. However, I 333 00:19:34,520 --> 00:19:37,639 Speaker 1: think counterintuitively, one thing Molly and her team of the 334 00:19:37,680 --> 00:19:39,720 Speaker 1: Deetrich did very well in twenty team was they kept 335 00:19:39,720 --> 00:19:41,600 Speaker 1: the focus on healthcare. They kept the focus on kitchen 336 00:19:41,600 --> 00:19:44,320 Speaker 1: table type issues. That's what they want on. So I 337 00:19:44,320 --> 00:19:47,119 Speaker 1: think with a danger for Democrats and I don't think 338 00:19:47,119 --> 00:19:48,640 Speaker 1: Trump would agree with this, But I think the danger 339 00:19:48,640 --> 00:19:51,280 Speaker 1: for Democrats is if if this Congress, all of it 340 00:19:51,359 --> 00:19:55,960 Speaker 1: becomes known as Mueller tax returns, it drowns out the sun. 341 00:19:56,640 --> 00:19:59,320 Speaker 1: They're not talking about healthcare, they're not talking about gun control, 342 00:19:59,440 --> 00:20:02,600 Speaker 1: things that one races for them in twenty They're not 343 00:20:02,640 --> 00:20:04,680 Speaker 1: talking about trade. And by the way, there's a clear 344 00:20:04,720 --> 00:20:07,440 Speaker 1: divide within the Republican Party on trade. The major headlines 345 00:20:07,480 --> 00:20:10,480 Speaker 1: crossing the Bloomberg terminal just within the last hour that 346 00:20:10,600 --> 00:20:14,080 Speaker 1: the US plans to increase China tariffs on Friday. We're 347 00:20:14,080 --> 00:20:18,159 Speaker 1: gonna have much more coming up on these breaking trade headlines. 348 00:20:18,200 --> 00:20:21,159 Speaker 1: Panel stays Molly Mitchell, Matt Gorman. I'm Kevin Cirelli. You 349 00:20:21,200 --> 00:20:24,560 Speaker 1: can download the Sounds on podcast on Apple iTunes, at 350 00:20:24,600 --> 00:20:27,199 Speaker 1: Bloomberg dot com, on the Bloomberg Business app. Check us 351 00:20:27,200 --> 00:20:30,160 Speaker 1: out on Radio dot com, I Heart Radio and Spotify. 352 00:20:30,240 --> 00:20:37,080 Speaker 1: You're listening to Bloomberg. You're listening to Sound On with 353 00:20:37,160 --> 00:20:41,800 Speaker 1: Kevin Surreally on Bloomberg one and one oh fie F 354 00:20:41,920 --> 00:20:47,360 Speaker 1: m h D two Baltimore. Breaking news tonight. President Trump's 355 00:20:47,400 --> 00:20:50,400 Speaker 1: top trade negotiators say the US is planning to raise 356 00:20:50,520 --> 00:20:55,879 Speaker 1: tariffs on Chinese goods on Friday. There were major trade 357 00:20:55,880 --> 00:21:01,679 Speaker 1: talks last week with the US Trade Representative Bob Leightheiser 358 00:21:01,800 --> 00:21:05,600 Speaker 1: and Treasury Secretary Stephen Venusian. They were in Beijing. They 359 00:21:05,640 --> 00:21:09,080 Speaker 1: come back from Beijing. We got this tweet on Sunday 360 00:21:09,119 --> 00:21:11,800 Speaker 1: that President Trump, he kind of, you know, raises the 361 00:21:12,440 --> 00:21:15,440 Speaker 1: warning sign that he's not happy with with how things 362 00:21:15,480 --> 00:21:18,199 Speaker 1: are going. Then he tweets again this morning He's going 363 00:21:18,240 --> 00:21:24,000 Speaker 1: to increase tariffs on Friday. Buckle up, folks. I'm Kevin Cirilli, 364 00:21:24,080 --> 00:21:28,680 Speaker 1: Chief Washington correspondent for Bloomberg Television and Bloomberg Radio. I'm 365 00:21:28,760 --> 00:21:32,520 Speaker 1: joined in studio by Molly Mitchell, director at Hamilton Place 366 00:21:32,560 --> 00:21:37,680 Speaker 1: Strategies and former Democratic Congressional Campaign Committee Director of Media Affairs. 367 00:21:37,680 --> 00:21:41,359 Speaker 1: And mc gorman, vice president at Targeted Victory and former 368 00:21:41,840 --> 00:21:46,400 Speaker 1: NRCC communications director, And of course my colleague Sarah McGregor. 369 00:21:46,560 --> 00:21:52,840 Speaker 1: She is the US economic policy team leader. And even 370 00:21:52,880 --> 00:21:56,600 Speaker 1: as these headlines are breaking, Uh, Sarah, we just got 371 00:21:56,920 --> 00:22:00,040 Speaker 1: another red headline on the Bloomberg terminal. Treasury Secretary Steve A. 372 00:22:00,119 --> 00:22:04,400 Speaker 1: Manution does not release President Trump's taxes as a court fight. 373 00:22:04,440 --> 00:22:06,760 Speaker 1: Now learns. I don't think there was a surprise on 374 00:22:06,880 --> 00:22:10,400 Speaker 1: that front. But the taxes, no, No, I think that, Um, 375 00:22:10,440 --> 00:22:13,800 Speaker 1: you know today there was some hope, but again it's 376 00:22:13,800 --> 00:22:16,800 Speaker 1: been dashed. Okay, let's let's get well. We'll let's talk 377 00:22:16,800 --> 00:22:19,760 Speaker 1: about the politics of the White House not releasing Trump's 378 00:22:19,760 --> 00:22:24,080 Speaker 1: tax returns again, surprising no one. Uh, Democrats or Republicans. 379 00:22:24,080 --> 00:22:26,119 Speaker 1: The Democrats want them. We're gonna talk about that coming up. 380 00:22:26,119 --> 00:22:28,639 Speaker 1: I want to stick with trade. Sarah walk us through 381 00:22:28,920 --> 00:22:32,719 Speaker 1: what this means on Friday, in particular, what markets are 382 00:22:32,760 --> 00:22:39,920 Speaker 1: going to be impacted by this trade increase. Tariff increase. Yes, 383 00:22:40,040 --> 00:22:42,360 Speaker 1: So of course we had Trump's tweet yesterday which took 384 00:22:42,359 --> 00:22:45,280 Speaker 1: everyone by surprise, announcing he was going to increase these tariffs. 385 00:22:45,320 --> 00:22:47,399 Speaker 1: But what's new today in just the past few minutes 386 00:22:47,480 --> 00:22:50,880 Speaker 1: is that Trump's top trade advisor, Robert Leitheiser's the Treasury 387 00:22:50,880 --> 00:22:53,760 Speaker 1: Secretary Stephen Manution, they've told us this is happening. They 388 00:22:53,800 --> 00:22:56,240 Speaker 1: said twelve o one Friday, these tariffs are taking effects. 389 00:22:56,240 --> 00:22:59,200 Speaker 1: So this wasn't just a tweet that Trump put into 390 00:22:59,240 --> 00:23:02,560 Speaker 1: the Twitter sphere. This is actually, um, it's something that's happening. 391 00:23:03,119 --> 00:23:05,800 Speaker 1: And then along with that, they've also told us that 392 00:23:05,800 --> 00:23:07,919 Speaker 1: the Chinese delegation that had planned to come here this 393 00:23:07,960 --> 00:23:10,240 Speaker 1: week for what was looking like would be the final 394 00:23:10,320 --> 00:23:13,320 Speaker 1: round of trade talks, they're still coming. So as these 395 00:23:13,320 --> 00:23:15,920 Speaker 1: tariffs are are taking effect on Friday at twelve one, 396 00:23:15,920 --> 00:23:18,240 Speaker 1: it's literally gonna be smack dab in the middle of 397 00:23:18,280 --> 00:23:20,719 Speaker 1: these Thursday Friday trade talks with the Chinese. And then 398 00:23:20,760 --> 00:23:25,560 Speaker 1: we also here Sarah that Leo Wa is the Chinese 399 00:23:25,600 --> 00:23:29,600 Speaker 1: Vice Premier of the top trade negotiator for China, that 400 00:23:29,640 --> 00:23:33,639 Speaker 1: he wasn't even talking to Manutian or Lightheiser within the 401 00:23:33,640 --> 00:23:36,760 Speaker 1: past twenty four hours. That's what Manuian and Lightheiser told 402 00:23:36,800 --> 00:23:41,439 Speaker 1: us they to We're not sure they didn't give us 403 00:23:41,480 --> 00:23:44,040 Speaker 1: that detail. That was a question we had. Um, they 404 00:23:44,080 --> 00:23:50,160 Speaker 1: have Bloomberg Schoomberg reporters NA. But it illustrates. It illustrates 405 00:23:50,160 --> 00:23:52,720 Speaker 1: a broader point, which is that you have these top 406 00:23:52,720 --> 00:23:56,320 Speaker 1: officials coming on Thursday and Friday of this week. So 407 00:23:56,400 --> 00:24:00,919 Speaker 1: either this is a last ditch effort or a trade 408 00:24:01,200 --> 00:24:04,280 Speaker 1: or a negotiation tactic. What do you think it is? Um, 409 00:24:04,320 --> 00:24:07,000 Speaker 1: it could be both. I think I uh, you know, 410 00:24:07,000 --> 00:24:09,680 Speaker 1: Trump's under a lot of pressure to get a great deal. 411 00:24:09,760 --> 00:24:12,280 Speaker 1: I think he's really sort of puffed up the fact that, 412 00:24:12,520 --> 00:24:14,200 Speaker 1: you know, the US is going to go hard on China. 413 00:24:14,240 --> 00:24:16,080 Speaker 1: This is gonna be different than anything ever before. There's 414 00:24:16,080 --> 00:24:18,200 Speaker 1: going to be an enforcement mechanism to make sure that 415 00:24:18,240 --> 00:24:20,600 Speaker 1: if China breaks the rules, that the US can hit 416 00:24:20,640 --> 00:24:23,159 Speaker 1: back and not face retaliation. You know, he's made a 417 00:24:23,160 --> 00:24:25,680 Speaker 1: lot of pretty specific promises and if the deal falls 418 00:24:25,720 --> 00:24:27,080 Speaker 1: short of that, he's going to face a lot of 419 00:24:27,240 --> 00:24:30,000 Speaker 1: political pressure. Well. At the same time, if he doesn't 420 00:24:30,040 --> 00:24:32,800 Speaker 1: get any deal, he's gonna have to hit the campaign 421 00:24:32,840 --> 00:24:35,720 Speaker 1: trail for his re election, still sort of harping on 422 00:24:35,880 --> 00:24:39,480 Speaker 1: China but having failed, um, you know, getting something out 423 00:24:39,480 --> 00:24:42,360 Speaker 1: of them in this year long trade war. Sarah McGregor 424 00:24:42,480 --> 00:24:45,000 Speaker 1: is the U S Economic Policy team leader. We're talking 425 00:24:45,040 --> 00:24:48,840 Speaker 1: about the breaking news crossing the Windberg terminal headlines tonight 426 00:24:49,160 --> 00:24:53,480 Speaker 1: about the President's decision to increase tariffs on Friday twelve 427 00:24:53,480 --> 00:24:57,440 Speaker 1: o one am Friday on a host of different billions 428 00:24:57,440 --> 00:24:59,879 Speaker 1: of dollars worth of Chinese good. This as a Bay 429 00:25:00,080 --> 00:25:03,199 Speaker 1: Jane trade delegation is set to come to the United States. 430 00:25:03,520 --> 00:25:07,080 Speaker 1: Standard and Poor's five futures fell on the news, along 431 00:25:07,119 --> 00:25:12,720 Speaker 1: with trade sensitive stocks including Caterpillar, Apple, Deer as well. 432 00:25:12,760 --> 00:25:14,720 Speaker 1: I mean, you look at the supply chains on this. 433 00:25:14,840 --> 00:25:17,920 Speaker 1: The business community, Sarah McGregor does not want to see 434 00:25:17,960 --> 00:25:21,399 Speaker 1: these tariffs, and it sounds like the issue of tariffs 435 00:25:21,920 --> 00:25:23,879 Speaker 1: and whether or not they're going to even stay in 436 00:25:23,960 --> 00:25:28,880 Speaker 1: place when an agreement is reached, if reached, is shaping 437 00:25:28,960 --> 00:25:31,000 Speaker 1: up to be one of the definitive issues. It's one 438 00:25:31,000 --> 00:25:34,480 Speaker 1: thing the President has already we should note increased tariffs 439 00:25:34,520 --> 00:25:37,760 Speaker 1: on Chinese good despite the protests from the business community. 440 00:25:38,200 --> 00:25:40,840 Speaker 1: One of the issues now in the last leg fourth 441 00:25:40,920 --> 00:25:44,440 Speaker 1: quarter overtime really of the U. S. China trade talks 442 00:25:44,560 --> 00:25:48,119 Speaker 1: is how to remove those tariffs if they get to 443 00:25:48,200 --> 00:25:51,480 Speaker 1: an agreement. Now absolutely, and I think, you know, we're 444 00:25:51,480 --> 00:25:54,040 Speaker 1: just talking about the business community, Like the number one 445 00:25:54,119 --> 00:25:56,919 Speaker 1: killer for a business is uncertainty. And so you have 446 00:25:57,119 --> 00:25:59,720 Speaker 1: right now the business community thinking, oh, there's these talks 447 00:25:59,720 --> 00:26:01,800 Speaker 1: taking place, maybe at least some of the terrifts will 448 00:26:01,800 --> 00:26:03,720 Speaker 1: be removed, the will be a path for this to happen. 449 00:26:04,040 --> 00:26:05,840 Speaker 1: You know, we get our business and supply chains back 450 00:26:05,840 --> 00:26:08,480 Speaker 1: on track, and then boom, Trump sends a tweet. Oh wait, 451 00:26:08,480 --> 00:26:11,560 Speaker 1: there's gonna be more tariffs, higher tariffs. And Trump again 452 00:26:11,680 --> 00:26:14,400 Speaker 1: in his tweet on Sunday, said, you know, he revived 453 00:26:14,400 --> 00:26:16,800 Speaker 1: this threat of putting tariffs on all Chinese goods. So 454 00:26:16,800 --> 00:26:20,560 Speaker 1: that's gonna hit your iPhones, your Nike sneakers, consumer goods, TV's, 455 00:26:20,640 --> 00:26:24,320 Speaker 1: children's toys, and that's also your retirement savings. I mean, 456 00:26:24,400 --> 00:26:26,960 Speaker 1: let's not forget a lot of these these stocks are 457 00:26:26,960 --> 00:26:31,080 Speaker 1: wrapped into people's four oh one and their retirement savings 458 00:26:31,080 --> 00:26:34,240 Speaker 1: in particular. I mean, we talked about the consumer price 459 00:26:34,640 --> 00:26:37,359 Speaker 1: and how small businesses are impacted by these terroriffs, but 460 00:26:37,440 --> 00:26:44,240 Speaker 1: also some of these stocks Apple, Caterpillar, John Dear Boeing. Yeah, 461 00:26:44,280 --> 00:26:45,639 Speaker 1: and we've seen, you know, there was a lot of 462 00:26:45,680 --> 00:26:48,800 Speaker 1: market volatility when the trade talks. You know, they're being up, 463 00:26:49,000 --> 00:26:51,600 Speaker 1: arrow down, arrow days for the trade talks. But things 464 00:26:51,640 --> 00:26:53,720 Speaker 1: seem to have been pretty okay for the US market. 465 00:26:56,400 --> 00:26:59,800 Speaker 1: Read everything's in the red um and you know, I 466 00:26:59,840 --> 00:27:02,200 Speaker 1: think that kind of leveled off this year. It looked 467 00:27:02,200 --> 00:27:04,200 Speaker 1: like actually there were sort of adults at the table 468 00:27:04,240 --> 00:27:07,359 Speaker 1: and negotiating things. Something might get worked out. And you know, 469 00:27:07,400 --> 00:27:09,240 Speaker 1: it's also helped by the U S economy looking a 470 00:27:09,240 --> 00:27:12,280 Speaker 1: bit stronger. First quarter growth was great, job numbers are great. 471 00:27:12,640 --> 00:27:15,160 Speaker 1: But again, I mean, if these tops are scuttled, trade 472 00:27:15,240 --> 00:27:18,680 Speaker 1: is often cited as the number one risk for economic forecasters, 473 00:27:19,080 --> 00:27:21,720 Speaker 1: and if trade starts to tank, these trade talks start 474 00:27:21,760 --> 00:27:24,760 Speaker 1: to tank two world's two biggest economies, I think we're 475 00:27:24,760 --> 00:27:27,920 Speaker 1: gonna start seeing a lot of nervousness, a lot more people, um, 476 00:27:27,960 --> 00:27:31,120 Speaker 1: you know, relooking at their recession outlooks and forecasts and 477 00:27:31,160 --> 00:27:34,320 Speaker 1: thinking about you know, what's next, saying they are word alright, 478 00:27:34,359 --> 00:27:37,239 Speaker 1: Sarah McGregor, no one else would rather have with us 479 00:27:37,280 --> 00:27:41,720 Speaker 1: from Bloomberg to walk us through a mumpy bumpy bumpy 480 00:27:41,880 --> 00:27:46,200 Speaker 1: Trade day again, folks. The President as well as the traders, 481 00:27:46,240 --> 00:27:49,720 Speaker 1: as he calls them, Treasury Secretary step Amnution and US 482 00:27:49,800 --> 00:27:53,080 Speaker 1: Trade Representative Bob Leightheizer, they've talked to reporters within the 483 00:27:53,160 --> 00:27:56,680 Speaker 1: last hour and they said that the president's tweet is accurate. 484 00:27:57,400 --> 00:28:00,119 Speaker 1: Sometimes that's not always the case. But it was not 485 00:28:00,200 --> 00:28:03,879 Speaker 1: a threat just made on Twitter. The President says that 486 00:28:04,080 --> 00:28:06,840 Speaker 1: they are in the White House and administration officials are 487 00:28:06,880 --> 00:28:09,920 Speaker 1: saying that on Friday they're gonna raise tariffs on two 488 00:28:10,040 --> 00:28:16,040 Speaker 1: hundred billion dollars worth of Chinese good to Currently it's 489 00:28:16,040 --> 00:28:19,000 Speaker 1: at ten percent. This is a Chinese trade delegation is 490 00:28:19,040 --> 00:28:22,600 Speaker 1: set to come later this week. Is it a bluff? 491 00:28:22,720 --> 00:28:25,040 Speaker 1: Is it a negotiation? We'll find out. We'll cover it 492 00:28:25,080 --> 00:28:27,840 Speaker 1: from every angle again, though, don't forget about U S 493 00:28:27,920 --> 00:28:29,520 Speaker 1: m c A or not after two point oh and 494 00:28:29,560 --> 00:28:32,680 Speaker 1: the Senate Finance Committee Chairman Chuck Rasley, a Republican from 495 00:28:32,680 --> 00:28:37,600 Speaker 1: where else Iowa, dead center in the agricultural trade impacted 496 00:28:37,880 --> 00:28:41,200 Speaker 1: zone ground zero for that, he says, if there are 497 00:28:41,200 --> 00:28:44,200 Speaker 1: still tariffs on steel and aluminum, U S m c 498 00:28:44,400 --> 00:28:47,680 Speaker 1: A is dead. He was at the White House last week. 499 00:28:48,240 --> 00:28:52,080 Speaker 1: Trade talks on multiple fronts now feeling the pressure. I'm 500 00:28:52,160 --> 00:28:55,960 Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television much more 501 00:28:56,000 --> 00:28:58,520 Speaker 1: with my all star panel Molly Mitchell, a Democrat mc 502 00:28:58,560 --> 00:29:01,440 Speaker 1: gorman of Republic and you can download the sound on 503 00:29:01,560 --> 00:29:05,440 Speaker 1: podcast on Apple iTunes, at Bloomberg dot com or by 504 00:29:05,440 --> 00:29:08,600 Speaker 1: downloading the Bloomberg Business app. You can also find us 505 00:29:08,640 --> 00:29:12,080 Speaker 1: on Radio dot com, I Heart Radio and Spotify. I'm 506 00:29:12,160 --> 00:29:20,360 Speaker 1: Kevin Cirelli. Thanks for listening. It's Bloomberg. This is Sound 507 00:29:20,480 --> 00:29:25,320 Speaker 1: On with Kevin Cereally on Bloomberg one and one point 508 00:29:25,400 --> 00:29:29,400 Speaker 1: seven f m h D two Boltimore. The Russians must go. 509 00:29:29,440 --> 00:29:32,320 Speaker 1: We want every country Iran is in there today whe 510 00:29:32,400 --> 00:29:34,640 Speaker 1: they need to leave. As well. Every country that is 511 00:29:34,680 --> 00:29:37,400 Speaker 1: interfering with the Venezuelan people's right to restore their own 512 00:29:37,400 --> 00:29:41,560 Speaker 1: democracy needs to leave. That was Secretary of State Mike 513 00:29:41,600 --> 00:29:49,000 Speaker 1: Pompeo speaking on Sundays ABC This Week with Chief White 514 00:29:49,000 --> 00:29:52,240 Speaker 1: House correspondent for ABC News and the host of it, 515 00:29:52,360 --> 00:29:57,280 Speaker 1: Jonathan Coral Look. Secretary of State Pompeo talking about the 516 00:29:57,560 --> 00:30:04,080 Speaker 1: escalating situation in Venezuela. The essentially globally recognized president of Venezuela, 517 00:30:04,160 --> 00:30:08,000 Speaker 1: Juan Guido UH telling the BBC within the last twenty 518 00:30:08,000 --> 00:30:11,959 Speaker 1: four hours that he would quote evaluate all options end 519 00:30:12,000 --> 00:30:18,000 Speaker 1: quote to force out the dictator Maduro Nicolas Maduro, UH, 520 00:30:18,240 --> 00:30:25,560 Speaker 1: including whether or not to ask the US for military 521 00:30:25,680 --> 00:30:28,000 Speaker 1: or not. I don't want to say, including I'll be 522 00:30:28,080 --> 00:30:30,920 Speaker 1: very specific here, including about whether or not to even 523 00:30:30,960 --> 00:30:35,520 Speaker 1: ask for increased US intervention in Venezuela. The US has 524 00:30:35,600 --> 00:30:40,680 Speaker 1: recognized bon Guido, the National Assembly leader of Venezuela as 525 00:30:41,240 --> 00:30:45,680 Speaker 1: who he is, the national the nationally elected leader of Venezuela, 526 00:30:45,760 --> 00:30:49,360 Speaker 1: as has by the way, French President Emmanuel McCrone and 527 00:30:49,480 --> 00:30:52,760 Speaker 1: dozens of other countries around the world. UH. And it's 528 00:30:52,760 --> 00:30:54,680 Speaker 1: a non part is an issue really here in the US, 529 00:30:54,760 --> 00:31:00,120 Speaker 1: with how Speaker Nancy Pelosi joining President Trump UH on 530 00:31:00,200 --> 00:31:03,680 Speaker 1: this particular issue as as well. We're going to continue 531 00:31:03,680 --> 00:31:07,600 Speaker 1: to follow that story obviously a major story, uh GEO 532 00:31:07,640 --> 00:31:11,920 Speaker 1: politically as well. I'm Kevin Cirelli, Chief Washington correspondent from 533 00:31:11,920 --> 00:31:15,560 Speaker 1: Bloomberg Television and Bloomberg Radio. We're following multiple fronts tonight, 534 00:31:16,000 --> 00:31:21,600 Speaker 1: as headlines have broken regarding the trade issue with China, 535 00:31:22,160 --> 00:31:26,080 Speaker 1: the President making good on his promise that as of 536 00:31:26,120 --> 00:31:30,160 Speaker 1: Friday twelve and one am, he will increase billions of 537 00:31:30,200 --> 00:31:34,000 Speaker 1: dollars worth of tariffs against the Chinese. The Chinese delegation 538 00:31:34,120 --> 00:31:36,920 Speaker 1: is set to come to the US the second half 539 00:31:36,920 --> 00:31:40,880 Speaker 1: of this week. Treasury Secretary Manution and US Trade Representative 540 00:31:40,880 --> 00:31:45,080 Speaker 1: Bob Laheiser talking to reporters within the past sixty minutes 541 00:31:45,240 --> 00:31:49,520 Speaker 1: and saying that they are all all systems ago in 542 00:31:49,640 --> 00:31:52,760 Speaker 1: terms of increasing those tariffs on Friday. This to the 543 00:31:52,840 --> 00:31:59,240 Speaker 1: chagrin of the business community. Stocks, including UH, including major 544 00:32:00,080 --> 00:32:04,400 Speaker 1: companies including Apple, John Deere, Boeing, as well as UH, 545 00:32:05,160 --> 00:32:09,120 Speaker 1: Caterpillar sliding on that news. It could be a trade tactic, 546 00:32:09,160 --> 00:32:11,800 Speaker 1: it could be a negotiation tactic. We'll we'll find out 547 00:32:11,960 --> 00:32:14,800 Speaker 1: in the second half of this week. But clearly not 548 00:32:14,840 --> 00:32:17,240 Speaker 1: what Wall Street wanted, not with the business community wanted, 549 00:32:17,800 --> 00:32:21,720 Speaker 1: and it injects volatility and uncertainty into the market. But 550 00:32:21,800 --> 00:32:24,440 Speaker 1: the President, when I talked to folks at the Treasury Department, 551 00:32:24,920 --> 00:32:27,880 Speaker 1: they say, it's a marathon, not a sprint. Play the 552 00:32:27,920 --> 00:32:31,360 Speaker 1: long game, played the long game. Look for the forest 553 00:32:31,400 --> 00:32:35,560 Speaker 1: from the trees, because look from their perspective, from their 554 00:32:35,640 --> 00:32:41,040 Speaker 1: vantage point, it's just potentially a trade tactic with me 555 00:32:41,120 --> 00:32:44,400 Speaker 1: for the Hour. Molly Mitchell, director at Hamilton's Place Strategies 556 00:32:44,440 --> 00:32:48,760 Speaker 1: and former Democratic Congressional Campaign Committee Director of media Affairs. 557 00:32:48,760 --> 00:32:52,640 Speaker 1: Matt Gorman is vice president at Targeted Victory and former 558 00:32:52,760 --> 00:32:56,000 Speaker 1: NRCC communications director. So while all of this is going 559 00:32:56,120 --> 00:33:01,440 Speaker 1: on with trade, another redhead and crosses the Bloomberg terminal. 560 00:33:01,800 --> 00:33:05,120 Speaker 1: This hour can't make it up. Treasury Secretary Stephen volution 561 00:33:05,560 --> 00:33:09,000 Speaker 1: Well deny the latest attempt by House Democrats to obtain 562 00:33:09,160 --> 00:33:13,280 Speaker 1: six years of President Trump's personal tax returns. He wrote 563 00:33:13,280 --> 00:33:16,480 Speaker 1: a letter. This letter just came out moments ago. So 564 00:33:16,560 --> 00:33:21,440 Speaker 1: the House Ways and Means Committee Chairman Richard Neil, a Democrat. 565 00:33:21,520 --> 00:33:26,080 Speaker 1: He says that Neil's request quote unquote lacks a legitimate 566 00:33:26,280 --> 00:33:30,920 Speaker 1: legislative purpose. No surprise, right, not at all. No. And 567 00:33:31,240 --> 00:33:34,120 Speaker 1: and look, this is following the Trump playbook from his 568 00:33:34,200 --> 00:33:37,360 Speaker 1: business career, right, Delay, get it out in the courts, 569 00:33:37,400 --> 00:33:42,240 Speaker 1: you know, outlast them, grind it out. And and look again, 570 00:33:42,280 --> 00:33:44,480 Speaker 1: as I was saying before, they more they talk about this, 571 00:33:44,560 --> 00:33:46,480 Speaker 1: the more this becomes part of the agenda, This doesn't 572 00:33:46,520 --> 00:33:50,240 Speaker 1: Eventually it won't help Democrats. Right, there's a very very 573 00:33:50,360 --> 00:33:53,680 Speaker 1: very small contingent of the Democratic or should say the 574 00:33:53,720 --> 00:33:56,360 Speaker 1: electorate that it's gonna this is issues going to motivate 575 00:33:56,400 --> 00:33:58,640 Speaker 1: them in any real way. I totally agree with Matt, 576 00:33:58,680 --> 00:34:01,640 Speaker 1: which I know is a rarity of there is. There 577 00:34:01,800 --> 00:34:05,000 Speaker 1: is a really a thin line for how well this place. 578 00:34:05,160 --> 00:34:08,719 Speaker 1: I think. Obviously the Democrats need to investigate and it 579 00:34:08,800 --> 00:34:11,480 Speaker 1: was worthwhile to ask for the tax returns to be 580 00:34:11,560 --> 00:34:13,200 Speaker 1: or at least no one was holding their breath that 581 00:34:13,239 --> 00:34:16,040 Speaker 1: they would actually get released. Obviously Trump is trying to 582 00:34:16,080 --> 00:34:18,600 Speaker 1: rout out the clock, like Matt said, But really, for 583 00:34:19,400 --> 00:34:22,200 Speaker 1: the focus I mean, frankly, for both the House and 584 00:34:22,760 --> 00:34:26,360 Speaker 1: for the presidency has to be on issues that voters 585 00:34:26,400 --> 00:34:30,520 Speaker 1: actually care about. Impeachment, frankly, isn't one of them. It's healthcare, 586 00:34:30,960 --> 00:34:34,920 Speaker 1: it's the tax cuts, It's whether or not you feel 587 00:34:35,080 --> 00:34:38,319 Speaker 1: like this economy is actually working for you. And that's 588 00:34:38,320 --> 00:34:40,920 Speaker 1: what Democrats need to be talking about, not impeachment. I 589 00:34:40,960 --> 00:34:43,319 Speaker 1: totally agree with. But take us into the war room, 590 00:34:43,760 --> 00:34:46,160 Speaker 1: Take us into the political war room. Go back to 591 00:34:46,239 --> 00:34:49,680 Speaker 1: when you were the uh the committee director of media 592 00:34:49,760 --> 00:34:53,200 Speaker 1: affairs for the for the Democratic Congressional Campaign Committee, When 593 00:34:53,239 --> 00:34:55,160 Speaker 1: you were the director of media affairs for the for 594 00:34:55,239 --> 00:34:58,479 Speaker 1: the D Triple C, you would want to push out 595 00:34:59,000 --> 00:35:01,319 Speaker 1: release the tax for you would want to go on 596 00:35:01,400 --> 00:35:04,239 Speaker 1: multiple fronts, you can, I mean, oh, I think that's true. 597 00:35:04,280 --> 00:35:06,960 Speaker 1: What's the calculation from Democrats to do this? Totally? I 598 00:35:06,960 --> 00:35:10,160 Speaker 1: think we we It's it's two sided, right, it's if 599 00:35:10,200 --> 00:35:13,160 Speaker 1: Trump really really plays up, it's a witch hunt there 600 00:35:13,200 --> 00:35:15,960 Speaker 1: after me and it's fake that riles up his base, 601 00:35:16,000 --> 00:35:19,640 Speaker 1: but it just distracts. It distracts from the conversation about 602 00:35:19,680 --> 00:35:22,319 Speaker 1: healthcare from tax cuts. I think what we saw, at 603 00:35:22,400 --> 00:35:25,760 Speaker 1: least for the Dems, is that what we were trying 604 00:35:25,800 --> 00:35:28,160 Speaker 1: to take on with a culture of corruption, right, so 605 00:35:28,239 --> 00:35:31,800 Speaker 1: it's not just Trump, it was also Republicans and Congress 606 00:35:31,800 --> 00:35:34,960 Speaker 1: were corrupt. I think the better play here it's it's 607 00:35:34,960 --> 00:35:38,640 Speaker 1: gonna be nearly impossible to impeach him before his term 608 00:35:38,680 --> 00:35:41,279 Speaker 1: is up with a Republicans, really, do you know what 609 00:35:41,280 --> 00:35:44,279 Speaker 1: I mean? Totally? So the reality is it's better to 610 00:35:44,360 --> 00:35:47,719 Speaker 1: use bar as a proxy, right, you know that the 611 00:35:47,760 --> 00:35:50,640 Speaker 1: eternal attorney General. Maybe we should try to impeach him, 612 00:35:50,640 --> 00:35:52,080 Speaker 1: I don't know. I think that's just a much better 613 00:35:52,120 --> 00:35:54,319 Speaker 1: play than trying to get rid of a president. But see, 614 00:35:54,360 --> 00:35:57,200 Speaker 1: this is what I find interesting is the reality here 615 00:35:57,239 --> 00:35:59,279 Speaker 1: the three of us know this. No one is seriously 616 00:35:59,320 --> 00:36:03,160 Speaker 1: talking about impeachment in any of our circles media, Democrats 617 00:36:03,320 --> 00:36:07,160 Speaker 1: or conservative circles. And so but I just learned something 618 00:36:07,200 --> 00:36:10,640 Speaker 1: because every time I hear I'm like, they can't actually 619 00:36:10,719 --> 00:36:12,840 Speaker 1: think they're going to get the president's tax return. But 620 00:36:12,920 --> 00:36:18,240 Speaker 1: Molly saying, essentially, it's this broader picture that Democrats have 621 00:36:18,239 --> 00:36:20,880 Speaker 1: have adopted as a strategy, which is, and you're hearing 622 00:36:20,920 --> 00:36:25,040 Speaker 1: this on the field, which is, paint a picture, and again, 623 00:36:25,280 --> 00:36:27,880 Speaker 1: whether or not you agree or disagree, regardless, paint a 624 00:36:27,880 --> 00:36:30,880 Speaker 1: picture of this culture of corruption. One of the few 625 00:36:31,760 --> 00:36:33,719 Speaker 1: potent attack lines we had, we didn't have many of 626 00:36:33,760 --> 00:36:36,600 Speaker 1: our disposal last time, was though that if Democrats took 627 00:36:36,640 --> 00:36:40,000 Speaker 1: the House, it would be about obstruction and dysfunction, right, 628 00:36:40,520 --> 00:36:42,719 Speaker 1: And so that was one of the few things we had. 629 00:36:42,760 --> 00:36:45,359 Speaker 1: So we we played the impeachment card quite a bit. 630 00:36:45,600 --> 00:36:49,120 Speaker 1: We played the endless investigations. And so I think that's 631 00:36:49,160 --> 00:36:51,920 Speaker 1: partly why you need to make it broader. And I 632 00:36:51,960 --> 00:36:55,600 Speaker 1: think it's partly why like the most successful raises that 633 00:36:55,640 --> 00:36:58,160 Speaker 1: my I know can attest, I'm sure was the factory. 634 00:36:58,320 --> 00:37:00,520 Speaker 1: When you're talking about healthcare, gun control, roll on and 635 00:37:00,520 --> 00:37:03,920 Speaker 1: on and on, you know and and insult whatever. Right. No, no, 636 00:37:04,160 --> 00:37:08,400 Speaker 1: that's true. And frankly, the culture of corruption just it plays, 637 00:37:08,440 --> 00:37:11,200 Speaker 1: but it plays to an extent. I mean, I think Americans, 638 00:37:11,200 --> 00:37:14,040 Speaker 1: both on the coast and in the heartland just think 639 00:37:14,080 --> 00:37:17,279 Speaker 1: Congress doesn't work. So if the Democrats go in, all 640 00:37:17,320 --> 00:37:19,520 Speaker 1: they do is obstruct. It's not great for us. I 641 00:37:19,520 --> 00:37:22,120 Speaker 1: mean that's why, you know and Nancy Pelosi want an 642 00:37:22,160 --> 00:37:24,960 Speaker 1: infrastructure deal and they want to move on their legislation. 643 00:37:25,040 --> 00:37:28,400 Speaker 1: So it's like, look, we investigated, but also we actually 644 00:37:28,400 --> 00:37:30,640 Speaker 1: got to work for you and re elect us to 645 00:37:30,680 --> 00:37:32,719 Speaker 1: do the same. That was the biggest about face I 646 00:37:32,760 --> 00:37:35,719 Speaker 1: saw within the past seven days, not just from Democrats 647 00:37:35,760 --> 00:37:38,359 Speaker 1: but also from the White House. What President Trump says 648 00:37:38,360 --> 00:37:41,440 Speaker 1: that he's not gonna work with anybody. Uh And if 649 00:37:41,440 --> 00:37:44,040 Speaker 1: they're going to investigate and now they're working on infrastructure, 650 00:37:44,040 --> 00:37:48,360 Speaker 1: maybe Washington isn't as broken as we think. The Republicans 651 00:37:48,400 --> 00:37:49,920 Speaker 1: hate that. I got to leave it there, and I 652 00:37:49,920 --> 00:37:52,120 Speaker 1: didn't even get to say that. We didn't even get 653 00:37:52,160 --> 00:37:54,239 Speaker 1: to talk about the one topic that I know Matt 654 00:37:54,280 --> 00:37:58,000 Speaker 1: Gorman wanted to talk about the met gala. Know, it's 655 00:37:58,040 --> 00:38:01,040 Speaker 1: my super Bowl, Kevin, this is the metal and I'm 656 00:38:01,040 --> 00:38:03,280 Speaker 1: going I'm going hardcore. You can talk about the baby, 657 00:38:03,360 --> 00:38:06,160 Speaker 1: the royal baby, Merkel had a baby. I'm not a royal. 658 00:38:06,400 --> 00:38:08,839 Speaker 1: I apologize, I'm not. I'm not, and I don't care 659 00:38:08,840 --> 00:38:11,040 Speaker 1: about the Kentucky Derby. All of these things we didn't 660 00:38:11,040 --> 00:38:17,200 Speaker 1: get to, not who had the baby Mark. We're gonna 661 00:38:17,280 --> 00:38:20,799 Speaker 1: leave it there. My thanks is yelling at me as 662 00:38:20,800 --> 00:38:23,560 Speaker 1: well for not knowing this, Molly Mitchell, Matt Gorman, I 663 00:38:23,600 --> 00:38:26,360 Speaker 1: appreciate the time. I'm Kevin Serelli. Download the sound on 664 00:38:26,440 --> 00:38:29,720 Speaker 1: podcast on Apple iTunes, Bloomberg dot com, or by downloading 665 00:38:29,719 --> 00:38:32,759 Speaker 1: the Bloomberg Business app. Check us out on radio dot com, 666 00:38:32,760 --> 00:38:36,480 Speaker 1: I Heart Radio and Spotify. I'm Kevin Serelli. You're listening 667 00:38:36,480 --> 00:38:37,080 Speaker 1: to Bloomberg