WEBVTT - Trump Made His Case for War With Iran. It Backfired

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

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<v Speaker 2>My fellow Americans, good evening.

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<v Speaker 3>Let me be President. Donald Trump addressed the American public

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<v Speaker 3>last night in his first primetime address since the US

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<v Speaker 3>and Israel launched strikes on Iran on February twenty eighth.

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<v Speaker 2>Armed forces have delivered swift, decisive, overwhelming victories on the battlefield,

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<v Speaker 2>victories like few people have ever seen before.

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<v Speaker 3>What did we learn that was new?

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<v Speaker 1>Honestly, we didn't learn a lot of new things.

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<v Speaker 3>Bloomberg, Washington and White House correspondent Jeff Mason says Trump

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<v Speaker 3>stopped short of answering the most pressing questions about the war,

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<v Speaker 3>including when and how it would end.

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<v Speaker 1>He wanted to reiterate that he intends to end the

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<v Speaker 1>war within two to three weeks, but he also delivered

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<v Speaker 1>some mixed messages about that which has been his mo

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<v Speaker 1>for the last four and a half weeks about this war,

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<v Speaker 1>by saying that the United States was going to continue

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<v Speaker 1>doing some major attacks and also lifting threats on Iran

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<v Speaker 1>if it did not agree to a deal in the

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<v Speaker 1>coming days or weeks.

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<v Speaker 3>The war with Iran has choked global fuel supplies and

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<v Speaker 3>royal markets, and as the conflict has widened. Thousands of

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<v Speaker 3>people have been killed and injured in Iran and across

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<v Speaker 3>the Middle East. CNN and Fox polling shows the majority

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<v Speaker 3>of Americans disapprove of the war and Trump's handling of it.

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<v Speaker 3>Jeff says amid the turmoil, Trump's speech was an opportunity

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<v Speaker 3>to sell the war and the US's continued involvement to

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<v Speaker 3>the American people and to the markets.

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<v Speaker 2>When this conflict is over, the strait will open up naturally.

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<v Speaker 2>It'll just open up naturally. They're going to want to

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<v Speaker 2>be able to sell oil because that's all they have

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<v Speaker 2>to try and rebuild. It will resume the flowing, and

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<v Speaker 2>the gas prices will will rapidly come back down. Stock

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<v Speaker 2>prices will rapidly go back up.

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<v Speaker 1>And it was a sales pitch. Whether or not that

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<v Speaker 1>sales pitch worked is another question.

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<v Speaker 3>Right, how did that sales pitch go over?

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<v Speaker 1>Markets are not impressed. The stock markets dropped and oil

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<v Speaker 1>prices have gone up, which my guess is is the

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<v Speaker 1>opposite of what President Trump thought was going to happen.

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<v Speaker 1>I think he was looking to goose the markets a

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<v Speaker 1>little bit by giving some more detail or clarity about

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<v Speaker 1>the end of the war and he didn't really give

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<v Speaker 1>more detailer clarity. Instead, he gave additional mixed messages.

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<v Speaker 3>I'm Sarah Holder, and this is the big take from

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<v Speaker 3>Bloomberg News today. On the show, Trump's latest attempt to

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<v Speaker 3>pitch the Iran war to the American people and call

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<v Speaker 3>markets and why it's not working.

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<v Speaker 2>My first reference was always the path of diplomacy. Yet

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<v Speaker 2>the regime continued their relentless quest for nuclear weapons and

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<v Speaker 2>rejected every attempt at an agreement for this reason.

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<v Speaker 3>So, Jeff, I want to go through some of the

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<v Speaker 3>things that President Donald Trump said and some of the

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<v Speaker 3>things he didn't say in his speech last night. Trump

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<v Speaker 3>and Defense Secretary Pete Hegseth. I've sent a lot of

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<v Speaker 3>messages over the course of the war, sometimes contradictory, often

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<v Speaker 3>shifting about US objectives and intentions. So what specifics did

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<v Speaker 3>we get about the administration's goals in Iran at this point?

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<v Speaker 1>Your all goal that the President articulated and has articulated

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<v Speaker 1>is a guarantee of some kind or an ability to

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<v Speaker 1>say that Iran will not develop or obtain a nuclear weapon.

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<v Speaker 1>There's a question mark over that he is saying that

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<v Speaker 1>that's an objective that they are achieving or have achieved,

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<v Speaker 1>but there are some who are concerned that they haven't

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<v Speaker 1>achieved that, and some conservatives in particular who are supportive

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<v Speaker 1>of the war or are concerned that maybe he is

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<v Speaker 1>prematurely pulling out if in fact he does pull out

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<v Speaker 1>in two to three weeks. Otherwise, he listed his view

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<v Speaker 1>of what he sees as a broad military success in

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<v Speaker 1>terms of decimating aspects of the Iranian military and its leadership.

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<v Speaker 3>Right, he said, while regime change was not our goal,

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<v Speaker 3>the regime has changed. What did you make of that

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<v Speaker 3>mixed message?

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<v Speaker 1>Again, because they did talk about regime change early on,

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<v Speaker 1>and you could really argue that the regime change has

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<v Speaker 1>not occurred, even though the President in the last few

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<v Speaker 1>days and along with Secretary Hegseth, have specifically said the

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<v Speaker 1>regime has changed, well has it? Because the new Supreme

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<v Speaker 1>Leader or Ayatola, is the son of the previous one

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<v Speaker 1>who was killed on the first day of strikes, still

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<v Speaker 1>very conservative, still very very anti US. So the President

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<v Speaker 1>says that there is a more reasonable set of leaders

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<v Speaker 1>that the US negotiators are now talking to. We'll see

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<v Speaker 1>the evidence would suggest the contrary.

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<v Speaker 3>I want to talk about timeline a little bit more,

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<v Speaker 3>because the President indicated that the war will last another

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<v Speaker 3>two to three weeks. He says, we're nearing the end.

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<v Speaker 3>What do we know about the actual off ramp here?

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<v Speaker 1>Well, a couple things. So I've covered the president for

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<v Speaker 1>a long time, and one of his habits rhetorically is

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<v Speaker 1>to say things like I'll let you know in two weeks,

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<v Speaker 1>or we'll do this in two or three weeks. So

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<v Speaker 1>you have to take that into account. Now. I don't

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<v Speaker 1>want to say that that means he's not going to

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<v Speaker 1>stop in two to three weeks, but I don't think

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<v Speaker 1>markets are convinced of that. And I spoke to a

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<v Speaker 1>source yesterday who used to work for Trump who also

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<v Speaker 1>have said to me, are you taking that deadline seriously?

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<v Speaker 1>And he raised some skepticism because of the fact that

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<v Speaker 1>the president does this, also because of the fact that

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<v Speaker 1>the President could be being strategic in saying that by

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<v Speaker 1>wanting to essentially create a false narrative for Iran or

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<v Speaker 1>a headfake to suggest, Okay, the US is about to

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<v Speaker 1>wrap up and then not do that again, those are

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<v Speaker 1>just question marks. The other bit of mixed messaging is

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<v Speaker 1>the fact that he promised to really up the ante

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<v Speaker 1>in terms of the military strikes in the coming weeks.

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<v Speaker 1>And he also sort of contradicted himself and that he

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<v Speaker 1>said in the Oval on Tuesday that a deal was

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<v Speaker 1>not necessary with Iran for the US to leave, and

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<v Speaker 1>then last night said if they don't agree to a deal,

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<v Speaker 1>then I'm going to destroy all of these things.

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<v Speaker 2>If there is no deal, we are going to hit

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<v Speaker 2>each and every one of their electric generating plans very hard,

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<v Speaker 2>and probably simultaneously. We have not hit their oil, even

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<v Speaker 2>though that's the easiest target of all because it would

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<v Speaker 2>not give them even a small chance of survival or rebuilding.

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<v Speaker 2>But we could hit it and it would be gone.

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<v Speaker 1>So that could be seen and I think is being

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<v Speaker 1>seen by the markets as an escalation instead of a

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<v Speaker 1>de escalation.

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<v Speaker 3>Where do negotiations stand right now? How close could Iran

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<v Speaker 3>and the US be to a deal? What is the

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<v Speaker 3>state of talks there?

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<v Speaker 1>There are more mixed messages. We know that President Trump's

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<v Speaker 1>envoys Steve Woodcoff and Jared Kushner, his son in law,

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<v Speaker 1>were involved in the negotiations with Iranian counterparts before the

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<v Speaker 1>war and right kind of up till the start of

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<v Speaker 1>the war, and that they were involved in some outreach

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<v Speaker 1>after that. More recently, Vice President J. D. Vance is

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<v Speaker 1>involved in sending some messages from President Trump to Iran.

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<v Speaker 1>But beyond that, I can't give you an exact sense

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<v Speaker 1>of how the talks are taking place. I know that

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<v Speaker 1>Pakistan has offered to be a location for in person talks,

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<v Speaker 1>but that has not happened yet to our knowledge. The

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<v Speaker 1>talks are either through channels or by phone or secure lines.

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<v Speaker 1>We know that there are some talks going on. At

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<v Speaker 1>one point Iran deny that that was happening, But the

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<v Speaker 1>question of who, beyond the names that I just mentioned,

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<v Speaker 1>are involved and where it's going is kind of tough

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<v Speaker 1>to tell.

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<v Speaker 3>What else was missing from Trump's speech. I'm thinking about

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<v Speaker 3>some of the other things Trump has been saying in

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<v Speaker 3>recent weeks about NATO, about specific plans to open the

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<v Speaker 3>Strait of Hormuz. What didn't Trump say that people were

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<v Speaker 3>expecting or perhaps hoping that he would, well a couple things.

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<v Speaker 1>Number One, you asked me earlier about the off ramp.

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<v Speaker 1>He really didn't specify how that off ramp is going

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<v Speaker 1>to occur. He did give the two to three week timeframe,

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<v Speaker 1>but he didn't say the definitely done. Then we're pulling back.

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<v Speaker 1>So I think that was one thing that generated questions.

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<v Speaker 1>You mentioned NATO, and you were right too. He has

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<v Speaker 1>been very critical of NATO allies, particularly Great Britain, for

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<v Speaker 1>not stepping up to help the United States secure the

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<v Speaker 1>Strait of Horror Moves, and there was some expectation that

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<v Speaker 1>he might have lashed out at specific countries or at

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<v Speaker 1>NATO itself. He didn't do that. He did say that

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<v Speaker 1>countries that rely on energy coming through the Strait of

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<v Speaker 1>Horror Moves should plan to go secure it themselves once

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<v Speaker 1>the United States has gone. So what is the plan

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<v Speaker 1>for the Strait of Horror Moves? Is it just to

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<v Speaker 1>leave it? Which is again the opposite of what President

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<v Speaker 1>Trumpet said at one point. At one point he said

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<v Speaker 1>that he would run the Strait of Horror Moves himself

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<v Speaker 1>along with the Yyahtola. So I would say the ambiguity

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<v Speaker 1>about the Strait of Horror Moves, the lack of direct

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<v Speaker 1>criticism of NATO, and the lack of clear details on

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<v Speaker 1>what an off ramp looks like, we're all things that

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<v Speaker 1>were left unsaid or at least not spelled out.

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<v Speaker 3>How that ambiguity is landing with allies, markets and voters

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<v Speaker 3>that's next. Since the Iran War started a month ago,

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<v Speaker 3>energy costs have become a major issue for the global

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<v Speaker 3>economy and for households around the world. This week, the

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<v Speaker 3>average price of gasoline in the US climbed above four

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<v Speaker 3>dollars a gallon for the first time since twenty twenty two,

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<v Speaker 3>after Russia launched its full scale invasion of Ukraine, and

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<v Speaker 3>on Thursday, the price of dated Brent crude topped one

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<v Speaker 3>hundred and forty dollars a barrel, its highest level since

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<v Speaker 3>two thousand and eight. I asked Bloomberg White House in

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<v Speaker 3>Washington correspondent Jeff Mason how President Trump address the energy

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<v Speaker 3>crisis caused by this war in his primetime speech.

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<v Speaker 1>Well, the President did acknowledge gasoline prices have gone up,

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<v Speaker 1>and I think that was very deliberate. That was at

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<v Speaker 1>least a nod to the people in his base and

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<v Speaker 1>others who are concerned about high energy prices. But he

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<v Speaker 1>was also, while acknowledging it, slightly dismissive of it.

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<v Speaker 2>The United States imports almost no oil through the Hormones

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<v Speaker 2>Strait and won't be taken any in the future. We

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<v Speaker 2>don't need it, we haven't needed it.

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<v Speaker 1>And we don't need it. And he has said previously

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<v Speaker 1>before that the energy prices, gasoline prices will just come

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<v Speaker 1>right back down as soon as the United States ends

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<v Speaker 1>this war, and that's just not clear if that's going

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<v Speaker 1>to happen, including because of the ambiguity over the Strait

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<v Speaker 1>of Hormones. He may be correct that the United States

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<v Speaker 1>doesn't rely on energy sources through that strait as much

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<v Speaker 1>as some of US allies do. And yet the United

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<v Speaker 1>States has obviously interconnected with the global economy, and so

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<v Speaker 1>if other countries are suffering because of Iran's control of

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<v Speaker 1>the Strait of Horror moves after this war, that's going

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<v Speaker 1>to have an impact on the United States too.

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<v Speaker 3>How did oil markets react to Trump's speech? What was

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<v Speaker 3>said and what wasn't said.

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<v Speaker 1>So the oil prices have gone up, and he I

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<v Speaker 1>think was expecting that if he doubled down essentially in

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<v Speaker 1>his remarks about this two to three week timeframe, that

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<v Speaker 1>that would signal that he's got an off ramp, but

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<v Speaker 1>in a very Trumpian way, because he also talked about

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<v Speaker 1>what were essentially escalatory measures and additional threats. That hasn't

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<v Speaker 1>gone over well with the markets who are looking for

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<v Speaker 1>a clear indication that not only is the US going

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<v Speaker 1>to leave, but it's going to stop the hostilities. I

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<v Speaker 1>would also say, since you brought up ghasoline prices, that

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<v Speaker 1>it's important to note how politically risky that is for him.

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<v Speaker 1>We're in the spring, the midterm elections are in November.

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<v Speaker 1>It seems like a long time, but it's not. And

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<v Speaker 1>if those prices stay around four dollars, tick up more,

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<v Speaker 1>or even only tick down a little bit, that's something

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<v Speaker 1>that voters may very well remember and take him to

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<v Speaker 1>account for when they go to the polls.

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<v Speaker 3>Through all of this, diplomatic efforts to reopen shipping through

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<v Speaker 3>the Strait of Hermus seem to be underway Today Thursday,

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<v Speaker 3>Iranian state media reported that Iran and o'man are drafting

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<v Speaker 3>a plan to monitor traffic through the Strait of Hermus,

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<v Speaker 3>and European leaders are meeting Thursday to discuss how to

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<v Speaker 3>get oil flowing through the strait. Again, do we have

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<v Speaker 3>any idea what these European leaders are planning.

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<v Speaker 1>What I think that meeting shows is that the Europeans

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<v Speaker 1>are taking it seriously. That when Trump says you got

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<v Speaker 1>to do this on your own, certainly European leaders have

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<v Speaker 1>had multiple wake up calls from the Trump administration during

0:14:07.960 --> 0:14:10.319
<v Speaker 1>this second term. Also during the first term, but then

0:14:10.360 --> 0:14:13.640
<v Speaker 1>they had a president in the middle there, Joe Biden,

0:14:13.679 --> 0:14:17.079
<v Speaker 1>who was much more of a European and a transatlanticist.

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<v Speaker 1>Donald Trump is not. And when he says you guys

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<v Speaker 1>will have to handle this yourself, they're taking him seriously.

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<v Speaker 3>I'm curious of how this war is playing with voters,

0:14:29.160 --> 0:14:34.200
<v Speaker 3>especially as the midterms loom, and especially within Trump's base.

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<v Speaker 3>Last week you were reporting at the Conservative Political Action

0:14:38.280 --> 0:14:42.960
<v Speaker 3>conference Seapack. Can you walk us through what people were

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<v Speaker 3>telling you and whether last night's speech addressed any of

0:14:47.760 --> 0:14:52.560
<v Speaker 3>the anxiousness around the US's involvement in this war.

0:14:52.680 --> 0:14:55.520
<v Speaker 1>Well, I would start by saying that the American public

0:14:55.680 --> 0:14:59.360
<v Speaker 1>broadly opposes the war, and that is pretty clear that

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<v Speaker 1>the majority of Americans are not happy about the intervention

0:15:04.520 --> 0:15:08.520
<v Speaker 1>by the United States and Israel into Iran, and particularly

0:15:08.760 --> 0:15:13.960
<v Speaker 1>the ramifications which have included the higher gasoline prices. Within

0:15:14.120 --> 0:15:18.440
<v Speaker 1>the Maga universe, which is President Trump's base, there is

0:15:18.520 --> 0:15:22.680
<v Speaker 1>still a lot of support, and that is largely because

0:15:23.480 --> 0:15:26.680
<v Speaker 1>a good chunk of the megabase will support President Trump

0:15:26.760 --> 0:15:29.680
<v Speaker 1>with virtually anything he does or says, there have been

0:15:30.400 --> 0:15:33.840
<v Speaker 1>signs of divisions, and I don't want to overplay or

0:15:33.960 --> 0:15:37.360
<v Speaker 1>underplay those. The signs of divisions have come from sort

0:15:37.400 --> 0:15:41.640
<v Speaker 1>of the top of the MAGA world of higher profile

0:15:41.720 --> 0:15:45.960
<v Speaker 1>people such as Tucker Carlson, Megan Kelly. Even a congresswoman

0:15:46.080 --> 0:15:50.400
<v Speaker 1>like Nancy Mace has been pretty critical in the last

0:15:50.400 --> 0:15:53.240
<v Speaker 1>week or so and said that if the President wanted

0:15:53.280 --> 0:15:55.440
<v Speaker 1>to send ground troops in, for example, then he needed

0:15:55.440 --> 0:16:00.400
<v Speaker 1>to come to Congress and get that approved. But the

0:16:00.480 --> 0:16:05.480
<v Speaker 1>grass roots, and those are just the regular voters who

0:16:05.520 --> 0:16:09.920
<v Speaker 1>I met with at Seapac last week were nearly all

0:16:10.280 --> 0:16:13.800
<v Speaker 1>supportive of the war and of the president. I did

0:16:13.840 --> 0:16:17.720
<v Speaker 1>speak to one person who disagreed and believed that President Trump,

0:16:17.840 --> 0:16:20.000
<v Speaker 1>as a candidate said he would not start new wars.

0:16:20.680 --> 0:16:23.600
<v Speaker 1>And this man also told me he thought Republicans were

0:16:23.640 --> 0:16:25.800
<v Speaker 1>going to face a shalaking in November.

0:16:25.960 --> 0:16:29.360
<v Speaker 3>I mean, going to war with Iran is incredibly politically

0:16:29.480 --> 0:16:32.200
<v Speaker 3>risky for the reasons that you've laid out, not to

0:16:32.240 --> 0:16:36.160
<v Speaker 3>mention all the other consequences of war, both economic human.

0:16:37.520 --> 0:16:40.000
<v Speaker 3>Are we getting any more clarity and like, what is

0:16:40.120 --> 0:16:43.600
<v Speaker 3>driving him to continue this war in Iran? Well?

0:16:43.600 --> 0:16:45.320
<v Speaker 1>What he has said at least for the start of

0:16:45.320 --> 0:16:48.120
<v Speaker 1>the war was that they saw window to do this,

0:16:48.400 --> 0:16:52.320
<v Speaker 1>and that negotiations led them to the conclusion that Iran

0:16:52.440 --> 0:16:56.000
<v Speaker 1>was not serious about giving up its ballistic missile program

0:16:56.200 --> 0:16:59.440
<v Speaker 1>or giving up its pursuit of nuclear weapons. And the

0:16:59.480 --> 0:17:02.320
<v Speaker 1>president likes to see himself as a historic figure. He

0:17:02.400 --> 0:17:05.760
<v Speaker 1>is a historic figure, and he likes to portray himself

0:17:05.840 --> 0:17:08.720
<v Speaker 1>as someone who will do things that others should have done.

0:17:08.760 --> 0:17:11.600
<v Speaker 1>And you've heard him say that multiple times about this war,

0:17:11.640 --> 0:17:14.040
<v Speaker 1>that previous presidents should have done this and they didn't.

0:17:14.400 --> 0:17:18.000
<v Speaker 1>Now he's doing it. And you've even had some in Europe,

0:17:18.119 --> 0:17:21.760
<v Speaker 1>while being reticent to step in and help with the

0:17:21.800 --> 0:17:25.520
<v Speaker 1>straight of hor Moose, still conceding that what Trump was doing,

0:17:25.640 --> 0:17:29.400
<v Speaker 1>what the United States is doing to Iran does help

0:17:29.520 --> 0:17:34.160
<v Speaker 1>protect them because Europe is closer and if Iran were

0:17:34.200 --> 0:17:38.159
<v Speaker 1>to get a nuclear weapon could be at risk. But

0:17:38.359 --> 0:17:44.040
<v Speaker 1>that's sort of the meta view of what's motivating the president.

0:17:44.240 --> 0:17:46.680
<v Speaker 1>I think that's part of what went into his thought

0:17:46.960 --> 0:17:52.719
<v Speaker 1>process for starting the war, and now politics surely seems

0:17:52.760 --> 0:17:56.920
<v Speaker 1>to be part of the thought process for getting out.

0:18:01.119 --> 0:18:04.040
<v Speaker 3>This is the big take from Bloomberg News. I'm Sarah Holder.

0:18:04.600 --> 0:18:07.720
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