1 00:00:00,560 --> 00:00:04,160 Speaker 1: Line from the Trump in the summit in hand government, 2 00:00:04,200 --> 00:00:07,480 Speaker 1: what are the political reality The President is increasingly frustrated. 3 00:00:07,520 --> 00:00:09,400 Speaker 1: I want to try to cut through the noise politically. 4 00:00:09,440 --> 00:00:15,960 Speaker 1: This is devastating sounds the influencers the inside. It is 5 00:00:15,960 --> 00:00:18,480 Speaker 1: no secret that I care a lot about the consumers. 6 00:00:18,680 --> 00:00:21,680 Speaker 1: There are real questions about big tech. We still have 7 00:00:21,760 --> 00:00:24,000 Speaker 1: more leverage to years with the tariffs. I think we 8 00:00:24,000 --> 00:00:26,680 Speaker 1: could do with a little less drama from the White House. 9 00:00:26,520 --> 00:00:32,440 Speaker 1: Is sound on with Kevin's really on Bloomberg Radio. Greetings 10 00:00:32,560 --> 00:00:37,000 Speaker 1: from Hanoi, Vietnam, where President Trump and just a few 11 00:00:37,040 --> 00:00:39,920 Speaker 1: short hours is set to have a one on one 12 00:00:40,120 --> 00:00:44,080 Speaker 1: meeting with North Korea leader Kim Jong n They're gonna 13 00:00:44,200 --> 00:00:47,400 Speaker 1: kick start their day at a quarter of nine a m. 14 00:00:47,640 --> 00:00:51,400 Speaker 1: Local time. Then they're going to have an expanded meeting 15 00:00:51,520 --> 00:00:55,680 Speaker 1: to nuclearization meeting, and then lunch, and then according to 16 00:00:55,720 --> 00:00:59,280 Speaker 1: the White House schedule, at about two and three pm 17 00:00:59,360 --> 00:01:04,120 Speaker 1: today or two am Eastern New York time, there's going 18 00:01:04,120 --> 00:01:06,640 Speaker 1: to be some type of signing agreement, this according to 19 00:01:06,680 --> 00:01:10,000 Speaker 1: White House officials, and then President Trump is going to 20 00:01:10,120 --> 00:01:13,280 Speaker 1: deliver a press conference. But what was supposed to be 21 00:01:13,920 --> 00:01:18,160 Speaker 1: a summit, a second summit, with North Korea here in Hanoi, 22 00:01:18,319 --> 00:01:22,160 Speaker 1: trying to get some type of accomplishment done with regards 23 00:01:22,160 --> 00:01:28,319 Speaker 1: to denuclearization. Has since become overshadowed by the president's former 24 00:01:28,360 --> 00:01:32,839 Speaker 1: fixer and personal attorney, Michael Cohen, who as we speak 25 00:01:32,959 --> 00:01:37,319 Speaker 1: is UH testifying up on Capitol Hill at the House 26 00:01:37,800 --> 00:01:42,600 Speaker 1: Oversight Committee. And what a day. It has been a 27 00:01:42,720 --> 00:01:45,720 Speaker 1: split screen type of day, which is why I'm so 28 00:01:45,800 --> 00:01:49,640 Speaker 1: glad that Jordan Fabian, a White House reporter for The 29 00:01:49,720 --> 00:01:53,120 Speaker 1: Hill Newspaper, is with us for the hour as well 30 00:01:53,160 --> 00:01:57,360 Speaker 1: as Hagar Comali. She is the founder and chief executive 31 00:01:57,400 --> 00:02:02,280 Speaker 1: off officer of Greenwich Media Strategy. She's also, of course, Uh, 32 00:02:02,320 --> 00:02:05,400 Speaker 1: the former spokesperson for the US Mission to the United 33 00:02:05,520 --> 00:02:09,800 Speaker 1: Nations for former Ambassadors Semant the Power, and a former 34 00:02:09,800 --> 00:02:14,400 Speaker 1: spokesperson at the Treasury Department. So all star panel to 35 00:02:14,480 --> 00:02:17,560 Speaker 1: help join us or take us through what has been 36 00:02:17,600 --> 00:02:21,640 Speaker 1: a remarkable day. We've got every base covered. Congressman french Hill, 37 00:02:21,760 --> 00:02:24,239 Speaker 1: a Republican from Arkansas, He's going to join us later 38 00:02:24,280 --> 00:02:27,480 Speaker 1: on in the hour as well. Jordan's this is not 39 00:02:27,680 --> 00:02:32,480 Speaker 1: the type of summit that President Trump had hoped for. No, No, 40 00:02:32,600 --> 00:02:35,080 Speaker 1: you have a good point there, Kevin. The timing of 41 00:02:35,080 --> 00:02:38,920 Speaker 1: this hearing with Michael Cohen is certainly overshadowing news coverage 42 00:02:38,919 --> 00:02:42,680 Speaker 1: here back in the US cable news dominated with live 43 00:02:42,960 --> 00:02:45,760 Speaker 1: tape to tape coverage of what Michael Cohen is saying, 44 00:02:45,760 --> 00:02:48,840 Speaker 1: and a lot of it has been damaging to President Trump. 45 00:02:49,000 --> 00:02:50,960 Speaker 1: Some of it has been out there before, but some 46 00:02:51,040 --> 00:02:54,320 Speaker 1: revelations that the former Trump lawyer put out there, uh, 47 00:02:54,440 --> 00:02:59,120 Speaker 1: that the President essentially directed him to lie about hush 48 00:02:59,160 --> 00:03:03,640 Speaker 1: money payments to Stormy Daniels and uh and and some 49 00:03:03,720 --> 00:03:07,000 Speaker 1: details about the uh, the Trump Tower Moscow deal that 50 00:03:07,080 --> 00:03:10,760 Speaker 1: was ongoing during the campaign, things that have been out 51 00:03:10,800 --> 00:03:13,520 Speaker 1: there in news reports. But with Michael Cohen out there 52 00:03:13,560 --> 00:03:16,880 Speaker 1: in front of Congress, sworn in under oath, giving these 53 00:03:17,080 --> 00:03:19,760 Speaker 1: accounts on the record, certainly gave it some added heft 54 00:03:20,360 --> 00:03:23,120 Speaker 1: and and and the bottom let being under oath is 55 00:03:23,200 --> 00:03:27,280 Speaker 1: something that is crucial, especially now. I mean, for all 56 00:03:27,280 --> 00:03:30,320 Speaker 1: of the times that these congressional hearings get criticized for 57 00:03:30,400 --> 00:03:33,000 Speaker 1: being a bit of a circus. I mean, and it's 58 00:03:33,000 --> 00:03:35,040 Speaker 1: a large extent, you know, they are a circus, a 59 00:03:35,040 --> 00:03:38,320 Speaker 1: political circus. They are still under oath, asked Roger Stone, 60 00:03:38,720 --> 00:03:40,760 Speaker 1: who has been issued a gag order for not being 61 00:03:40,920 --> 00:03:45,360 Speaker 1: for well posting on Instagram. Uh. Mike Dorning is Bloomberg 62 00:03:45,400 --> 00:03:47,560 Speaker 1: News White House Editor. He's also with us for the hour. 63 00:03:47,640 --> 00:03:50,240 Speaker 1: Thank you Mike for being there with us. Mike, I 64 00:03:50,280 --> 00:03:52,080 Speaker 1: was struck by this where I am right now. It's 65 00:03:52,120 --> 00:03:54,680 Speaker 1: it's about five a m. And Hannoi, Vietnam, and I'm 66 00:03:54,680 --> 00:03:57,800 Speaker 1: sitting on top, uh a roof of a hotel, the Gallery, 67 00:03:57,840 --> 00:04:01,040 Speaker 1: classy hotel, looking out at the Juan Key Lake, which 68 00:04:01,040 --> 00:04:03,960 Speaker 1: is central Hannoi. Yeah, but I'm looking at in the 69 00:04:04,000 --> 00:04:08,720 Speaker 1: distance at the Metropole Hotel, which is where President Trump 70 00:04:08,720 --> 00:04:12,400 Speaker 1: and Kim Jongan had dinner. They had like shrimp cocktail 71 00:04:12,480 --> 00:04:14,640 Speaker 1: and a grilled serlant sounded good according to the menu. 72 00:04:14,680 --> 00:04:18,520 Speaker 1: A chocolate lava cake folks for dessert. But Uh, I 73 00:04:18,640 --> 00:04:22,440 Speaker 1: was struck at just to how optimistic President Trump was 74 00:04:22,800 --> 00:04:27,520 Speaker 1: and really touted the economic impact potentially and pointed to 75 00:04:27,600 --> 00:04:30,159 Speaker 1: Vietnam as an example of what North Korea could be. 76 00:04:30,200 --> 00:04:33,159 Speaker 1: But the whole time as these reports are coming out, 77 00:04:33,240 --> 00:04:36,360 Speaker 1: I mean, the number one trending topic on Twitter nationally 78 00:04:36,440 --> 00:04:40,239 Speaker 1: back in the States is Michael Cohen. Well, first off, 79 00:04:40,400 --> 00:04:42,719 Speaker 1: you talk about a split screen moment. It's not really 80 00:04:42,720 --> 00:04:46,200 Speaker 1: a split screen moment for people in America because while 81 00:04:46,240 --> 00:04:49,920 Speaker 1: we're awake, it's all about Michael Cohen. Tonight, while we're 82 00:04:49,960 --> 00:04:53,760 Speaker 1: all sleeping and dreaming our dreams, it will be Trump's 83 00:04:53,839 --> 00:04:57,280 Speaker 1: moment UM, So that will all happen while we're not 84 00:04:57,360 --> 00:05:02,279 Speaker 1: paying attention. UM. Also, this is really the first time 85 00:05:02,520 --> 00:05:08,320 Speaker 1: we've seen this kind of televised, dramatic testimony going over 86 00:05:08,400 --> 00:05:12,200 Speaker 1: all these misdeeds, and it's it's just a dramatic moment 87 00:05:12,400 --> 00:05:15,640 Speaker 1: like UM in the Watergate hearings when you first started 88 00:05:15,720 --> 00:05:20,000 Speaker 1: to see UM the actual advisors to the president come 89 00:05:20,000 --> 00:05:23,680 Speaker 1: out and testify. Americans can look at these people, they 90 00:05:23,720 --> 00:05:27,760 Speaker 1: can size them up. UM. And Michael Cohen came off 91 00:05:27,839 --> 00:05:30,960 Speaker 1: pretty well today. He wasn't rattled when the Republicans were 92 00:05:30,960 --> 00:05:34,640 Speaker 1: attacking him. So it's it's gonna be a moment that 93 00:05:34,760 --> 00:05:37,919 Speaker 1: makes a big impression on the American people, you know, 94 00:05:38,000 --> 00:05:40,640 Speaker 1: whether they agree or disagree with them. It will be 95 00:05:40,760 --> 00:05:42,800 Speaker 1: one of those moments that you remember in all this. 96 00:05:43,720 --> 00:05:48,320 Speaker 1: I uh, I was struck by the President's tweets today 97 00:05:48,360 --> 00:05:51,440 Speaker 1: just being here in Hanoi, Vietnam, and and and to 98 00:05:51,520 --> 00:05:56,599 Speaker 1: be so engulfed in in these incredibly important geopolitical talks. 99 00:05:56,680 --> 00:05:59,560 Speaker 1: It's not just the US and North Korea who are here. 100 00:05:59,600 --> 00:06:04,520 Speaker 1: I mean, the surrounding influence of China has truly felt. 101 00:06:04,520 --> 00:06:07,480 Speaker 1: It was felt as Kim Jong in took a Chinese 102 00:06:07,480 --> 00:06:10,599 Speaker 1: back train through China, sixty hour train ride to get here. 103 00:06:10,920 --> 00:06:14,000 Speaker 1: But the President was tweeting about Michael Cohen, about Senator 104 00:06:14,080 --> 00:06:17,400 Speaker 1: Richard Blumenthal, Democrat from Connecticut. He tweeted out that he 105 00:06:17,480 --> 00:06:22,480 Speaker 1: mentioned uh Senator of Blumenthal's dodging of of the or 106 00:06:22,600 --> 00:06:26,960 Speaker 1: lying rather about his about his record in Vietnam, that 107 00:06:27,040 --> 00:06:30,400 Speaker 1: he mentioned that to folks here when he was meeting 108 00:06:30,440 --> 00:06:33,320 Speaker 1: with with Vietnamese leaders, and then of course calling Michael 109 00:06:33,320 --> 00:06:36,520 Speaker 1: Cohen a liar, and and all of this is coming 110 00:06:36,720 --> 00:06:42,760 Speaker 1: as these talks are set to happen, and and and 111 00:06:42,800 --> 00:06:44,880 Speaker 1: it's I want to play for you what President Trump 112 00:06:44,960 --> 00:06:48,200 Speaker 1: had to say when when he when he briefly made 113 00:06:48,200 --> 00:06:50,799 Speaker 1: comments with Kim Jong un when they were having dinner. 114 00:06:50,800 --> 00:06:52,400 Speaker 1: Take a listen to what President Trump had to say. 115 00:06:54,160 --> 00:06:57,560 Speaker 1: It seems unbelievable that I was so mesmerized by Donald 116 00:06:57,600 --> 00:07:00,719 Speaker 1: Trump that I was willing to do things for him 117 00:07:00,760 --> 00:07:04,320 Speaker 1: that I knew were absolutely wrong. Well, that was Michael 118 00:07:04,320 --> 00:07:08,920 Speaker 1: Cohen that was but it was what was on his mind. 119 00:07:09,960 --> 00:07:13,360 Speaker 1: But we're giving us the look inside him. But he 120 00:07:13,480 --> 00:07:15,440 Speaker 1: but but but it gets to this issue of of 121 00:07:15,480 --> 00:07:18,440 Speaker 1: even exactly I mean like in three hours he's gonna 122 00:07:18,480 --> 00:07:20,920 Speaker 1: be sitting with Kim Joe noon and and there it 123 00:07:21,160 --> 00:07:23,560 Speaker 1: is that you know that that the White House senior 124 00:07:23,560 --> 00:07:26,480 Speaker 1: administration officials are having to to really focus on this. 125 00:07:26,520 --> 00:07:28,480 Speaker 1: Do we have that President Trump? So let's let's play 126 00:07:28,480 --> 00:07:31,320 Speaker 1: President Trump. Here's President Trump. A lot of things are 127 00:07:31,320 --> 00:07:35,320 Speaker 1: going to be helpful. I think for the lead to wonderful, 128 00:07:36,200 --> 00:07:40,080 Speaker 1: really a wonderful say long so he says it's gonna 129 00:07:40,120 --> 00:07:43,800 Speaker 1: be good. Hagar Kmali is a former spokesperson at the U. S. 130 00:07:43,880 --> 00:07:47,360 Speaker 1: Treasury Department. She also has deep has previously worked for 131 00:07:47,440 --> 00:07:51,080 Speaker 1: Samantha Power. Hugar, thanks for joining us, can the president? 132 00:07:51,560 --> 00:07:54,760 Speaker 1: How how have the domestic events back in the States 133 00:07:54,840 --> 00:07:57,960 Speaker 1: impacted and cast a shadow over what's happening here in Hanoi. 134 00:07:59,840 --> 00:08:02,200 Speaker 1: I have a lot of experience and when I was 135 00:08:02,240 --> 00:08:05,840 Speaker 1: in the government with these types of trips, and it's 136 00:08:06,000 --> 00:08:08,960 Speaker 1: hard to ever separate. I will tell you of of 137 00:08:09,000 --> 00:08:11,000 Speaker 1: all the trips that I had participated in or any 138 00:08:11,080 --> 00:08:13,600 Speaker 1: that I've observed. It's the first time I see something 139 00:08:13,640 --> 00:08:18,080 Speaker 1: domestically overshadow something foreign and something so big. I mean, 140 00:08:18,120 --> 00:08:21,240 Speaker 1: the summit is an important issue. No matter what we 141 00:08:21,360 --> 00:08:24,520 Speaker 1: think of of of how it's going, or what the 142 00:08:24,560 --> 00:08:26,360 Speaker 1: reality or what the reality will be of it, or 143 00:08:26,360 --> 00:08:28,720 Speaker 1: what the achievements will come out of it, it is 144 00:08:28,760 --> 00:08:32,360 Speaker 1: still shocking to see how much this domestic issue will 145 00:08:32,360 --> 00:08:34,120 Speaker 1: play out now. I don't think it's going to really 146 00:08:34,120 --> 00:08:37,079 Speaker 1: be a distraction for the experts on the ground who 147 00:08:37,120 --> 00:08:40,680 Speaker 1: are trying to extract some real concessions out of North Korea. 148 00:08:41,320 --> 00:08:44,160 Speaker 1: The administration has said that they've got these three key 149 00:08:44,200 --> 00:08:48,640 Speaker 1: goals right. The first is agreeing on what the nuclearization 150 00:08:48,760 --> 00:08:52,959 Speaker 1: means UM with the North Korean government. The second is 151 00:08:53,480 --> 00:08:56,280 Speaker 1: having some kind of roadmap to get to the nuclearization 152 00:08:56,800 --> 00:09:00,440 Speaker 1: UM and the third is freezing North Korea's in handment 153 00:09:00,480 --> 00:09:03,640 Speaker 1: of its proliferation program now, which we know they continue 154 00:09:03,720 --> 00:09:06,960 Speaker 1: to do since the summit last year. Uh So, I 155 00:09:07,000 --> 00:09:08,319 Speaker 1: think that that's what they're going to be focused on. 156 00:09:08,360 --> 00:09:11,400 Speaker 1: I think Trump will President Trump will probably be distracted, 157 00:09:11,440 --> 00:09:14,200 Speaker 1: for sure, but there's there's really only so much that 158 00:09:14,200 --> 00:09:17,280 Speaker 1: that one can control about that. Her guard Comali is 159 00:09:17,920 --> 00:09:20,679 Speaker 1: one of our panelists for the hour. She has UH 160 00:09:21,400 --> 00:09:24,760 Speaker 1: was director of Communications and spokesperson for the US Missions 161 00:09:24,760 --> 00:09:28,559 Speaker 1: to the U n UH and for former Ambassador Samantha Power. 162 00:09:28,640 --> 00:09:32,120 Speaker 1: She has also the spokesperson for Terrorism and Financial Intelligence 163 00:09:32,160 --> 00:09:36,880 Speaker 1: of the Treasury Department. She's got experience directly working in 164 00:09:37,000 --> 00:09:40,160 Speaker 1: these types of situations in the HAGAR. That's why I 165 00:09:40,160 --> 00:09:42,520 Speaker 1: want to get inside of your head here, if you're 166 00:09:43,240 --> 00:09:45,600 Speaker 1: on if you were on the ground here in Hanoi, 167 00:09:45,960 --> 00:09:49,040 Speaker 1: President Trump is set to meet one on one and 168 00:09:49,240 --> 00:09:53,319 Speaker 1: literally under four hours just across town from where I'm from, 169 00:09:53,320 --> 00:09:57,280 Speaker 1: where I'm seated with Kim Jong n. Kim Jong un 170 00:09:57,480 --> 00:10:01,240 Speaker 1: knows that we know, it's been reported that he that 171 00:10:01,280 --> 00:10:05,520 Speaker 1: he follows US media. He knows that President Trump is 172 00:10:06,040 --> 00:10:12,000 Speaker 1: facing this this scandal back home, does he not? I mean, 173 00:10:12,000 --> 00:10:16,120 Speaker 1: I'm certain he does, but I don't. I don't see 174 00:10:16,559 --> 00:10:21,400 Speaker 1: that really changing the way the North Koreans work forward things. 175 00:10:21,440 --> 00:10:23,600 Speaker 1: And the reason for that is, I mean, I think 176 00:10:23,640 --> 00:10:28,080 Speaker 1: we have to remember that the North Korean leader is 177 00:10:28,360 --> 00:10:30,280 Speaker 1: of a completely different mental state. I mean, this is 178 00:10:30,320 --> 00:10:34,400 Speaker 1: an individual who took thirty five years old, right, I 179 00:10:34,400 --> 00:10:39,559 Speaker 1: mean yes, yes, except and and and and quite uh, 180 00:10:39,840 --> 00:10:43,680 Speaker 1: you know, formed I mean, I mean shaped by his 181 00:10:43,760 --> 00:10:46,920 Speaker 1: experiences growing up in North Korea, obviously even at such 182 00:10:46,920 --> 00:10:48,880 Speaker 1: a young age. But I mean, this is an individual 183 00:10:48,880 --> 00:10:52,440 Speaker 1: who took a train for three days to get to 184 00:10:52,440 --> 00:10:55,800 Speaker 1: where he's going because he's paranoid to fly. He allegedly 185 00:10:55,840 --> 00:10:58,080 Speaker 1: brings his own food here there. Maybe you've heard more 186 00:10:58,080 --> 00:11:00,600 Speaker 1: about this, but yeah, I mean it's been it's been 187 00:11:00,640 --> 00:11:04,320 Speaker 1: absolutely remarkable just to see how all the nuance coming up. 188 00:11:04,400 --> 00:11:08,199 Speaker 1: Much more on Michael Cohen, much more on the summit 189 00:11:08,240 --> 00:11:11,080 Speaker 1: now just under four hours away, and Congressman Friend Chill 190 00:11:11,120 --> 00:11:13,520 Speaker 1: Republican from Arkansas is going to weigh in on the 191 00:11:13,520 --> 00:11:17,599 Speaker 1: Split Screen Day that is Washington and all around the 192 00:11:17,640 --> 00:11:20,760 Speaker 1: world in Vietnam. Remember, you can download the sound on 193 00:11:20,880 --> 00:11:24,040 Speaker 1: podcast on Apple iTunes after the show, at Bloomberg dot 194 00:11:24,080 --> 00:11:27,280 Speaker 1: com or by getting the Bloomberg Business App. You can 195 00:11:27,320 --> 00:11:30,120 Speaker 1: also find us on radio dot com and on I 196 00:11:30,280 --> 00:11:34,280 Speaker 1: Heart Radio. Panel stays Mike Dorning, Jordan's Fabian Hagar Comali, 197 00:11:34,679 --> 00:11:38,560 Speaker 1: I'm Kevin CURRELLI you're listening to sound on This is 198 00:11:38,840 --> 00:12:02,680 Speaker 1: Bloomberg is a day at Bloomberg dot Com, the Bloomberg 199 00:12:02,760 --> 00:12:07,079 Speaker 1: Business App, and TikTok on Twitter. He's a Bloomberg Business Lab. 200 00:12:07,280 --> 00:12:10,160 Speaker 1: I'm Doug Christener at the Bloomberg Interactive Broker Studio in 201 00:12:10,200 --> 00:12:12,240 Speaker 1: New York, seventeen past the hour. Let's get you caught 202 00:12:12,280 --> 00:12:14,120 Speaker 1: up on market action. We kind of had a mixed 203 00:12:14,160 --> 00:12:16,959 Speaker 1: finish for US equities. That was after U S t R. 204 00:12:17,080 --> 00:12:21,000 Speaker 1: Robert Leitheizer kind of dialed back expectations for a sweeping 205 00:12:21,160 --> 00:12:25,400 Speaker 1: trade deal with China. He said there will be significant 206 00:12:25,400 --> 00:12:28,920 Speaker 1: structural changes required to the Chinese economic model, and then 207 00:12:28,920 --> 00:12:30,600 Speaker 1: he went on to say it's too early to tell 208 00:12:30,640 --> 00:12:34,080 Speaker 1: if China will concede to US demands. He also said 209 00:12:34,080 --> 00:12:37,520 Speaker 1: that China and then they're purchasing of more US goods 210 00:12:37,559 --> 00:12:41,400 Speaker 1: alone is not enough for a deal. Down Industrial average 211 00:12:41,400 --> 00:12:43,280 Speaker 1: weaker by three tenths of one percent on the day. 212 00:12:43,559 --> 00:12:46,200 Speaker 1: SMP five hundred was down about one tenth of one percent, 213 00:12:46,400 --> 00:12:49,520 Speaker 1: although the NASDAC composite gained a little ground with a 214 00:12:49,559 --> 00:12:52,600 Speaker 1: gain of about one tenth of one percent. After the bell, 215 00:12:52,840 --> 00:12:56,400 Speaker 1: HP Inc. Reported revenue for the latest quarter below estimates. 216 00:12:56,559 --> 00:12:59,240 Speaker 1: Stock right now is weaker by more than five percent 217 00:12:59,640 --> 00:13:04,560 Speaker 1: in US trading, and we had CBS saying that they 218 00:13:04,600 --> 00:13:07,000 Speaker 1: are near a deal to end the search for a 219 00:13:07,040 --> 00:13:09,560 Speaker 1: new CEO. We're told the company is aiming to make 220 00:13:09,600 --> 00:13:12,840 Speaker 1: a decision by the end of March. Class B shares 221 00:13:12,920 --> 00:13:17,000 Speaker 1: in CBS down by one seven on the day. Yield 222 00:13:17,040 --> 00:13:19,280 Speaker 1: on the US Tenure Treasury last quoted in New York 223 00:13:19,320 --> 00:13:22,480 Speaker 1: at two point six eight. You're caught up on market. 224 00:13:22,520 --> 00:13:25,320 Speaker 1: So let's get back to a special edition of Bloomberg 225 00:13:25,400 --> 00:13:28,600 Speaker 1: Sound On with Kevin Cerelli live from Hanoi for the 226 00:13:28,640 --> 00:13:33,400 Speaker 1: Trump Kim summit. Welcome back. I'm Kevin Cerelli, Bloomberg News 227 00:13:33,440 --> 00:13:37,120 Speaker 1: Chief Washington correspondent from Bloomberg Television and Bloomberg Radio. I 228 00:13:37,160 --> 00:13:41,120 Speaker 1: am broadcasting from Hannoi, Vietnam, on top of the Old 229 00:13:41,160 --> 00:13:45,640 Speaker 1: Gallery classy hotel, overlooking the Juan Kim Lake in central 230 00:13:45,800 --> 00:13:50,319 Speaker 1: Hanoi to the west is where in just under four 231 00:13:50,360 --> 00:13:53,800 Speaker 1: hours President Trump and North Korea leader Kim Jong un 232 00:13:54,080 --> 00:13:57,440 Speaker 1: are set to have a one on one meeting at 233 00:13:57,440 --> 00:14:02,880 Speaker 1: the Metropole Hotel. From there, they will then increase their 234 00:14:02,960 --> 00:14:08,280 Speaker 1: respective camps and and have continued denuclearization talks. The President 235 00:14:08,679 --> 00:14:11,680 Speaker 1: will be joined by Secretary of State Mike Pompeo, his 236 00:14:11,760 --> 00:14:16,280 Speaker 1: Acting Chief of Staff mcmulvaney, the North Korea leader Kim 237 00:14:16,360 --> 00:14:20,320 Speaker 1: j n will be joined by his number two inside 238 00:14:20,320 --> 00:14:24,080 Speaker 1: of his regime, as well as his Foreign Affairs minister. Now, 239 00:14:24,240 --> 00:14:27,840 Speaker 1: a couple of hours ago, President Trump had a dinner 240 00:14:28,120 --> 00:14:32,000 Speaker 1: of sorts with those camps. They had like shrimp, cocktail, 241 00:14:32,080 --> 00:14:34,560 Speaker 1: chocolate lava cake. Men, you looked pretty good, to be honest, 242 00:14:34,600 --> 00:14:38,840 Speaker 1: at this famous metropol Sofietel. It was called this hotel 243 00:14:38,880 --> 00:14:42,040 Speaker 1: that's been opened for more than a hundred years, I believe, 244 00:14:42,680 --> 00:14:46,440 Speaker 1: and the President seemed optimistic. But while all of this 245 00:14:46,520 --> 00:14:51,280 Speaker 1: was going down across the world in Washington, well, the 246 00:14:51,360 --> 00:14:54,760 Speaker 1: shadow of Washington was felt here in Hannoy because the 247 00:14:54,800 --> 00:14:59,200 Speaker 1: President was tweeting about Michael Cohen, his former personal attorney, 248 00:14:59,280 --> 00:15:02,440 Speaker 1: as well as law time fixer, who was testifying before 249 00:15:02,480 --> 00:15:06,520 Speaker 1: the House Oversight Committee, testifying under oath we should we 250 00:15:06,520 --> 00:15:09,600 Speaker 1: should add with me for the hour Mike Dorning, Bloomberg 251 00:15:09,640 --> 00:15:12,640 Speaker 1: News White House Editor. He's in our DC studio, accompanied 252 00:15:12,640 --> 00:15:16,880 Speaker 1: by Jordan Fabian, White House corresponded UH and reporter for 253 00:15:17,000 --> 00:15:20,360 Speaker 1: The Hill newspaper. And joining us on the telephone is 254 00:15:20,440 --> 00:15:24,240 Speaker 1: Huggar Camali. She is a former spokesperson at the US 255 00:15:24,280 --> 00:15:27,960 Speaker 1: Treasury Department and the CEO of Greenwich Media. Strategies. Thank 256 00:15:28,000 --> 00:15:30,400 Speaker 1: you to the panel. Mike, I want to start with 257 00:15:30,440 --> 00:15:34,840 Speaker 1: you because I was struck as one of the big takeaways, 258 00:15:35,360 --> 00:15:37,320 Speaker 1: and it really comes down to what the profo is 259 00:15:37,360 --> 00:15:41,320 Speaker 1: literally in the pudding for this Michael cohen uh testimony. 260 00:15:41,360 --> 00:15:43,400 Speaker 1: And we were talking earlier about how it's been casting 261 00:15:43,440 --> 00:15:46,360 Speaker 1: a shadow of our events here in Hanoi. But but 262 00:15:46,440 --> 00:15:49,040 Speaker 1: what we learned and what he's accusing the president of, 263 00:15:49,120 --> 00:15:53,040 Speaker 1: in particular about having direct knowledge of the hack, Mike, 264 00:15:53,520 --> 00:15:56,640 Speaker 1: that was probably the biggest takeaway, though, I mean, I 265 00:15:57,200 --> 00:16:00,400 Speaker 1: think that part of it was just the overall portrait. 266 00:16:00,480 --> 00:16:02,720 Speaker 1: You know, that he's a con man, a cheat, a liar, 267 00:16:02,840 --> 00:16:05,400 Speaker 1: and a racist. Those are going to be kind of 268 00:16:05,440 --> 00:16:08,200 Speaker 1: the things that resonate, I think with a broader public. 269 00:16:08,240 --> 00:16:10,840 Speaker 1: But you're right, Um, one of the sort of big 270 00:16:10,920 --> 00:16:15,200 Speaker 1: factual takeaways was exactly what you said that he said 271 00:16:15,240 --> 00:16:18,800 Speaker 1: that he heard on a speaker phone Roger Stone tell 272 00:16:18,880 --> 00:16:22,040 Speaker 1: Trump ahead of time about this massive dump of emails 273 00:16:22,480 --> 00:16:25,320 Speaker 1: that would damage Hillary Clinton. And you know, having covered 274 00:16:25,360 --> 00:16:29,680 Speaker 1: that campaign, how important that was in that campaign. Without that, 275 00:16:30,040 --> 00:16:33,080 Speaker 1: it seems unlikely that Trump would have won. And yet 276 00:16:33,400 --> 00:16:35,880 Speaker 1: here he is knowing about what's going to happen well 277 00:16:35,920 --> 00:16:39,760 Speaker 1: in advance. And there are these other just amazing things 278 00:16:39,800 --> 00:16:43,920 Speaker 1: that came out, like him saying, now there's no tape 279 00:16:43,920 --> 00:16:47,720 Speaker 1: of this that he doesn't know of any country that's 280 00:16:47,920 --> 00:16:51,160 Speaker 1: run by a black that's not like a bad country. 281 00:16:51,200 --> 00:16:54,440 Speaker 1: He used a more colorful term, and that was of 282 00:16:54,440 --> 00:16:56,720 Speaker 1: course that at a time when the US was being 283 00:16:56,800 --> 00:17:00,920 Speaker 1: run by a black man, Barack Obama. And think little 284 00:17:01,040 --> 00:17:05,479 Speaker 1: things like him saying that Trump called his son, Donald 285 00:17:05,480 --> 00:17:08,399 Speaker 1: Trump Junior, sort of one of the least intelligent people 286 00:17:08,400 --> 00:17:12,960 Speaker 1: in the world. Um, all of that creates a portrait 287 00:17:13,080 --> 00:17:16,200 Speaker 1: that will resonate and which we'll see on Saturday Night Live. 288 00:17:16,280 --> 00:17:19,560 Speaker 1: It will become part of part of pop culture, you know. 289 00:17:19,640 --> 00:17:22,840 Speaker 1: And the Donald Trump Junior, the President's son, tweeting out 290 00:17:23,520 --> 00:17:26,760 Speaker 1: during the hearing that, uh, he thinks Michael Cohen just 291 00:17:26,840 --> 00:17:29,760 Speaker 1: wanted his own TV show and he was angling for that. 292 00:17:29,840 --> 00:17:32,560 Speaker 1: So they were the Republican machine was it was in 293 00:17:32,680 --> 00:17:36,160 Speaker 1: full force, the democratic machine as well. Amplifying this hearing. 294 00:17:36,160 --> 00:17:40,440 Speaker 1: It really did grip and overshadow the events happening here 295 00:17:40,480 --> 00:17:42,119 Speaker 1: in Hannoy. I want to play for you though that 296 00:17:42,160 --> 00:17:43,760 Speaker 1: moment in the hearing, because this for me, I here 297 00:17:43,800 --> 00:17:47,080 Speaker 1: I am on in Hannoy like glue to Twitter, glued 298 00:17:47,119 --> 00:17:49,560 Speaker 1: to Bloomberg Television, glue to the Bloomberg terminal, and all 299 00:17:49,640 --> 00:17:52,359 Speaker 1: the great reporting that was crossing glued to my friend 300 00:17:52,440 --> 00:17:56,600 Speaker 1: Jordan Fabian and the Hill. Uh, all of these reports 301 00:17:56,640 --> 00:18:01,040 Speaker 1: coming in and I'm like, this is wow wow. But 302 00:18:01,119 --> 00:18:02,920 Speaker 1: here was the moment for me that really stuck out. 303 00:18:02,960 --> 00:18:05,320 Speaker 1: And you mentioned the phone call and that he was 304 00:18:05,440 --> 00:18:08,160 Speaker 1: listening on speaker phone. There would be a call out 305 00:18:08,240 --> 00:18:10,440 Speaker 1: if that's true. The Roger Stone moment here, it is 306 00:18:10,680 --> 00:18:13,640 Speaker 1: that moment of Michael Cohen's testimony at the House earlier today. 307 00:18:13,680 --> 00:18:15,840 Speaker 1: Take a listen. A lot of people have asked me 308 00:18:15,880 --> 00:18:18,760 Speaker 1: about whether Mr Trump knew about the release of the 309 00:18:18,760 --> 00:18:24,560 Speaker 1: hacked documents Democratic National Committee email ahead of time, and 310 00:18:24,640 --> 00:18:29,600 Speaker 1: the answer is yes. Wow. Jordan's wow. That to me, 311 00:18:29,640 --> 00:18:33,000 Speaker 1: I mean, if there's proof of that, then that directly 312 00:18:33,160 --> 00:18:37,520 Speaker 1: ties President Trump to Roger Stone. Right, Kevin, that was 313 00:18:37,560 --> 00:18:39,600 Speaker 1: one of the most jaw dropping moments. I think Mike 314 00:18:40,000 --> 00:18:42,520 Speaker 1: really went through a lot of them. Uh just now, 315 00:18:42,680 --> 00:18:45,920 Speaker 1: but there were so many during this hearing today, And 316 00:18:46,280 --> 00:18:48,280 Speaker 1: what I'm gonna be looking for, Kevin, though, is how 317 00:18:48,680 --> 00:18:52,040 Speaker 1: Democrats respond to all this information that was given because 318 00:18:52,080 --> 00:18:54,680 Speaker 1: not only do you have these revelations that Michael Cohen 319 00:18:54,760 --> 00:18:57,240 Speaker 1: is putting out there in the Russian investigation, but you 320 00:18:57,320 --> 00:19:01,600 Speaker 1: have a new allegations that the Trump organization may have 321 00:19:01,680 --> 00:19:05,960 Speaker 1: committed bank fraud and falsifying assets for for loan purposes 322 00:19:06,000 --> 00:19:09,360 Speaker 1: and things like that. So how did Democrats go forward 323 00:19:09,440 --> 00:19:11,960 Speaker 1: and use this in the future? How do they open 324 00:19:12,000 --> 00:19:14,880 Speaker 1: new lines of inquiry even as the Robert Mueller investigation 325 00:19:15,160 --> 00:19:17,439 Speaker 1: and the federal investigation k is still going on. So 326 00:19:17,480 --> 00:19:20,760 Speaker 1: we'll see how that goes coming up. Congressman, Friend, Chill, Panel, 327 00:19:20,840 --> 00:19:24,880 Speaker 1: Stay Cigar, Molly, Jorge Baby, and Mike Thorning. I'm Kevin Sirelli. 328 00:19:24,920 --> 00:19:28,280 Speaker 1: Download the Sound On podcast, Subscribe to us on Apple iTunes, 329 00:19:28,400 --> 00:19:31,320 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business app. 330 00:19:31,359 --> 00:19:33,960 Speaker 1: You can also check us out on radio dot com 331 00:19:33,960 --> 00:19:37,640 Speaker 1: and I Heart Radio. Live from Vietnam, where the day 332 00:19:37,680 --> 00:19:41,600 Speaker 1: two of the Trump Kim's Summit is gonna continue onward. 333 00:19:41,840 --> 00:19:59,199 Speaker 1: I'm Kevin Surreli. You're listening to Bloomberg. You're listening to 334 00:19:59,400 --> 00:20:03,160 Speaker 1: Sound On with Kevin's Really Live from the Trump Kim 335 00:20:03,320 --> 00:20:08,800 Speaker 1: Nuclear Summit in Hanoi. On Bloomberg Radio. Welcome back. I'm 336 00:20:08,840 --> 00:20:13,200 Speaker 1: Kevin Surley, Bloomberg News Chief Washington correspondent to Bloomberg Television 337 00:20:13,280 --> 00:20:17,680 Speaker 1: and Bloomberg Radio. I'm broadcasting from Hannoi, Vietnam, on top 338 00:20:17,760 --> 00:20:22,840 Speaker 1: of the Oh Gallery classy hotel. It's a rooftop here 339 00:20:23,040 --> 00:20:26,880 Speaker 1: overlooking the Juanqiin Lake in central Hanoi. To the west. Well, 340 00:20:26,960 --> 00:20:29,760 Speaker 1: just a couple of blocks away, I see another skyscraper 341 00:20:29,800 --> 00:20:35,639 Speaker 1: of sorts, the Metropole Hotel, the historic Metropol Hotel where 342 00:20:35,800 --> 00:20:40,000 Speaker 1: President Trump and Kim John dined together today, talking in 343 00:20:40,160 --> 00:20:43,280 Speaker 1: the eve of what will be in just under now 344 00:20:43,320 --> 00:20:45,880 Speaker 1: like three and a half more hours, when that day 345 00:20:45,880 --> 00:20:49,480 Speaker 1: two of the Second Summit, all the hard work of 346 00:20:49,520 --> 00:20:51,720 Speaker 1: the back and forth that one on one meeting with 347 00:20:51,720 --> 00:20:54,159 Speaker 1: President Trump and Kim Jouard sets to begin. They're going 348 00:20:54,200 --> 00:20:58,480 Speaker 1: to have a working lunch after the one on one 349 00:20:58,520 --> 00:21:01,480 Speaker 1: meetings with their respective amps. The White House is saying 350 00:21:01,520 --> 00:21:05,320 Speaker 1: that at two o'clock uh pm Local time two am 351 00:21:05,359 --> 00:21:11,280 Speaker 1: Eastern Standard time, that there's gonna be a signing of sorts. Uh. 352 00:21:11,440 --> 00:21:14,280 Speaker 1: We don't know what, maybe a formal declaration of the 353 00:21:14,400 --> 00:21:19,159 Speaker 1: ending of the Korean War. Remember, folks, it was just 354 00:21:19,200 --> 00:21:23,879 Speaker 1: a ceasefire that was declared back in in three and 355 00:21:23,920 --> 00:21:28,720 Speaker 1: then at three o'clock PM local or three am, UH 356 00:21:28,920 --> 00:21:31,199 Speaker 1: Eastern time, President Trump is gonna give a press conference, 357 00:21:31,240 --> 00:21:34,400 Speaker 1: no doubt, he's gonna get questions about what was happening 358 00:21:35,080 --> 00:21:39,400 Speaker 1: back in Washington, d C. His former fixer, personal attorney, 359 00:21:39,440 --> 00:21:44,320 Speaker 1: Michael Cohen testifying, uh, to really cast him as a racist, 360 00:21:44,480 --> 00:21:49,040 Speaker 1: someone who was trying to cover up his dealings with women. 361 00:21:49,640 --> 00:21:52,680 Speaker 1: I mean, it just was went on and on. Uh, 362 00:21:52,720 --> 00:21:56,840 Speaker 1: this bombshell hearing and number one trending topic on Twitter, 363 00:21:56,920 --> 00:22:01,560 Speaker 1: really overshadowing and dominating uh, all of the developments here 364 00:22:01,960 --> 00:22:04,400 Speaker 1: out of Vietnam. Some of our colleagues in the White 365 00:22:04,440 --> 00:22:07,600 Speaker 1: Else press corps from the Associated Press try to ask 366 00:22:07,640 --> 00:22:11,360 Speaker 1: President Trump about that. If the pool, as it's known as, 367 00:22:11,400 --> 00:22:14,159 Speaker 1: just a handful of reporters, it's a circulation in the 368 00:22:14,240 --> 00:22:17,320 Speaker 1: US press system, only about five or six on these 369 00:22:17,320 --> 00:22:21,200 Speaker 1: international trips or seven really, I guess, uh go in 370 00:22:21,280 --> 00:22:23,160 Speaker 1: for these photo ops and and they try to ask 371 00:22:23,240 --> 00:22:25,840 Speaker 1: him about Michael Cohen, and then White House didn't like that. 372 00:22:27,000 --> 00:22:29,560 Speaker 1: So he's gonna get questions on it in a couple 373 00:22:29,560 --> 00:22:31,680 Speaker 1: of hours. And what he says, well, we'll have to wait, 374 00:22:31,760 --> 00:22:35,400 Speaker 1: but when America wakes up tomorrow morning, President Trump will 375 00:22:35,440 --> 00:22:39,040 Speaker 1: have delivered likely that press conference. Mike Dorning is Bloomberg 376 00:22:39,080 --> 00:22:41,200 Speaker 1: News white House Editor. He joins us from our DC 377 00:22:41,359 --> 00:22:45,399 Speaker 1: studio along with Jordan Fabian, white House correspondent for The 378 00:22:45,480 --> 00:22:49,640 Speaker 1: Hill Newspaper, also a member of the White House Correspondence Association, 379 00:22:49,760 --> 00:22:53,280 Speaker 1: and Hugar Kamali is a former spokesperson for the U. S. 380 00:22:53,320 --> 00:22:58,200 Speaker 1: Treasury Department as well as the US United Nations and 381 00:22:59,040 --> 00:23:02,680 Speaker 1: is the CEO of in Which Strategies. She's also with 382 00:23:02,760 --> 00:23:07,560 Speaker 1: us on the phone line. We were talking earlier about 383 00:23:07,600 --> 00:23:11,200 Speaker 1: the back and forth here in Vietnam and the impact 384 00:23:11,240 --> 00:23:15,399 Speaker 1: that this is having over very intense denuclearization efforts. I 385 00:23:15,480 --> 00:23:18,200 Speaker 1: was struck. They shut down the roads here for when 386 00:23:18,200 --> 00:23:22,240 Speaker 1: the motorcade was going through after the dinner, when President 387 00:23:22,280 --> 00:23:26,199 Speaker 1: Trump was leaving the Metropole UH restaurant to go to 388 00:23:26,320 --> 00:23:28,920 Speaker 1: the J. W. Maryott where he's staying Huggar, they shut 389 00:23:28,960 --> 00:23:32,200 Speaker 1: down the roads. They the local police forts here handed 390 00:23:32,200 --> 00:23:36,359 Speaker 1: out Vietnamese and American flags to all the locals. So 391 00:23:36,400 --> 00:23:38,280 Speaker 1: I'm walking through, I'm trying to you know, what do 392 00:23:38,320 --> 00:23:39,399 Speaker 1: you make of this? What do you make of this? 393 00:23:39,760 --> 00:23:41,919 Speaker 1: And I run into some expatriots and they were like, 394 00:23:41,960 --> 00:23:44,479 Speaker 1: everywhere we go, there's Trump. We can't escape them. So 395 00:23:44,560 --> 00:23:48,560 Speaker 1: I mean Huggar and even caught some folks here off guard, 396 00:23:49,320 --> 00:23:52,000 Speaker 1: some tourists, I guess or backpackers who were like, why 397 00:23:52,080 --> 00:23:54,760 Speaker 1: why is President Trump and Hannoi? But there is a 398 00:23:54,800 --> 00:23:57,520 Speaker 1: reason he's in Hannoy, which is they're they're trying to 399 00:23:57,520 --> 00:24:00,399 Speaker 1: to send a message to the North Korean's at the 400 00:24:00,480 --> 00:24:04,720 Speaker 1: economic model of Vietnam could be something that they follow. 401 00:24:04,960 --> 00:24:07,760 Speaker 1: But no one was following what's going on here. They 402 00:24:07,760 --> 00:24:10,720 Speaker 1: were listening to back in the stage, they were listening 403 00:24:10,760 --> 00:24:14,000 Speaker 1: to Michael Cohen testify. I want to play for you 404 00:24:14,680 --> 00:24:20,400 Speaker 1: another clip from the hearing where Roger Michael Cohen says 405 00:24:20,400 --> 00:24:24,199 Speaker 1: that Roger Stone told President Trump uh that he had 406 00:24:24,240 --> 00:24:26,080 Speaker 1: just gotten off the phone with Juliana Sans take a 407 00:24:26,080 --> 00:24:29,199 Speaker 1: listen to this moment. Mr Stone told Mr Trump that 408 00:24:29,320 --> 00:24:32,639 Speaker 1: he had just gotten off the phone with Julian Assange 409 00:24:33,320 --> 00:24:36,720 Speaker 1: and that Mr Stange told Mr Stone that within a 410 00:24:36,760 --> 00:24:39,919 Speaker 1: couple of days there would be a massive dump of 411 00:24:40,040 --> 00:24:46,440 Speaker 1: emails that would damage Hillary Clinton's campaign. Mr Trump responded 412 00:24:46,600 --> 00:24:51,200 Speaker 1: by stating to the effect, wouldn't that be great. So 413 00:24:51,240 --> 00:24:56,480 Speaker 1: if there's proof of that, Huggar, what happens next, Well 414 00:24:56,680 --> 00:25:00,879 Speaker 1: they you know, any engagement with a sane is something 415 00:25:00,920 --> 00:25:04,639 Speaker 1: that could be viewed as as treason, and we already 416 00:25:04,720 --> 00:25:08,080 Speaker 1: know that given the charges that Chelsea Manning went through. 417 00:25:08,080 --> 00:25:11,679 Speaker 1: I mean, Chelsea Manning was directly leaking something from the U. S. Government, right, 418 00:25:11,720 --> 00:25:14,280 Speaker 1: So Chelsea Manning was a U. S. Government person. Now, 419 00:25:14,320 --> 00:25:16,560 Speaker 1: so it's a bit different. I don't mean to completely compare, 420 00:25:16,960 --> 00:25:20,880 Speaker 1: and I'm not a legal expert, but um, surely there 421 00:25:20,880 --> 00:25:25,000 Speaker 1: would be some kind of charges against him in anything 422 00:25:25,040 --> 00:25:28,680 Speaker 1: that has to do with leaking sensitive information that impact 423 00:25:28,800 --> 00:25:32,480 Speaker 1: that has an impact on the security United States and 424 00:25:32,760 --> 00:25:35,879 Speaker 1: certainly an election in the United States. Um, I'm pretty 425 00:25:35,880 --> 00:25:38,080 Speaker 1: certain there could be some legal implications there. But I 426 00:25:38,119 --> 00:25:40,280 Speaker 1: will say, you know what's interesting you mentioned about the 427 00:25:40,280 --> 00:25:44,919 Speaker 1: economic model um or regarding Vietnam and the message that 428 00:25:45,000 --> 00:25:48,159 Speaker 1: the Trump administration is trying to convey to North Korea. 429 00:25:48,520 --> 00:25:50,320 Speaker 1: You know, it's not the first time that the US 430 00:25:50,400 --> 00:25:54,520 Speaker 1: government tries to highlight to an adversary what it would 431 00:25:54,520 --> 00:25:58,960 Speaker 1: be like if they behaved like a like a normal actor. Um, 432 00:25:59,000 --> 00:26:02,400 Speaker 1: without all the harrious activity and the Obama administration did 433 00:26:02,400 --> 00:26:05,720 Speaker 1: this is Iran, right, So the goal there after the 434 00:26:05,760 --> 00:26:09,960 Speaker 1: deal was to try and incorporate them somehow, certainly through Europe, 435 00:26:10,280 --> 00:26:13,600 Speaker 1: into the international financial system, so that they could see 436 00:26:13,640 --> 00:26:15,960 Speaker 1: what it would be like to have a taste of 437 00:26:16,000 --> 00:26:19,040 Speaker 1: being a normal actor and having trade resume and so 438 00:26:19,200 --> 00:26:23,320 Speaker 1: on as a means of changing their behavior. Specifically, is 439 00:26:23,320 --> 00:26:25,920 Speaker 1: it related to terrorism across the region? Right? So with 440 00:26:26,000 --> 00:26:29,239 Speaker 1: North Korea's a very similar goal here. Um, you know, 441 00:26:29,320 --> 00:26:31,879 Speaker 1: it's it's hard to say how that'll go. You know, 442 00:26:31,920 --> 00:26:34,240 Speaker 1: as I mentioned before, I think the main goals are 443 00:26:34,280 --> 00:26:36,879 Speaker 1: are are pretty limited actually, you know, and focused to 444 00:26:38,600 --> 00:26:41,800 Speaker 1: make getting an agreement on the nuclearization, getting a roadmap 445 00:26:41,840 --> 00:26:45,359 Speaker 1: for d nuclearization, and then halting the current efforts by 446 00:26:45,400 --> 00:26:48,960 Speaker 1: North Korea to enrich their program. Yeah, and so that's 447 00:26:49,000 --> 00:26:51,080 Speaker 1: that's where I see them them being focused. I think 448 00:26:51,080 --> 00:26:53,760 Speaker 1: on the North Korea side, obviously, their two main goals 449 00:26:53,840 --> 00:26:56,600 Speaker 1: have to do with sanctions relief and with having some 450 00:26:56,680 --> 00:26:59,760 Speaker 1: kind of formal declaration to the Korean War toward of 451 00:26:59,840 --> 00:27:04,359 Speaker 1: their quickly and like just just under a minute, the 452 00:27:04,359 --> 00:27:06,280 Speaker 1: way of left it tell me this, I mean to 453 00:27:06,320 --> 00:27:08,240 Speaker 1: our colleagues at the Associated Press who were trying to 454 00:27:08,240 --> 00:27:10,800 Speaker 1: get President Trump to talk about Cohen. They really were 455 00:27:10,840 --> 00:27:13,880 Speaker 1: doing their job. No, absolutely, when you have that kind 456 00:27:13,880 --> 00:27:16,760 Speaker 1: of opportunity, you have to ask the newsworthy questions. They 457 00:27:16,760 --> 00:27:19,479 Speaker 1: asked about the North Korea talks too, and it's not 458 00:27:19,680 --> 00:27:21,240 Speaker 1: right for the White House to retaliate in the way 459 00:27:21,280 --> 00:27:23,680 Speaker 1: that they did. It wasn't like they were in their 460 00:27:23,680 --> 00:27:26,800 Speaker 1: folks just asking about Michael Cohen. They were asking about 461 00:27:27,359 --> 00:27:31,160 Speaker 1: these allegations coming up. Congressman French Hill, Republican from Arkansas. 462 00:27:31,200 --> 00:27:33,720 Speaker 1: He joins us on the telephone. We get more into 463 00:27:33,800 --> 00:27:36,800 Speaker 1: what to expect in the next twenty four hours. Handel stays. 464 00:27:37,160 --> 00:27:39,639 Speaker 1: Download us on Apple, it Tunes, Bloomberg dot Com or 465 00:27:39,640 --> 00:27:42,560 Speaker 1: the Bloomberg Business App. Check us out on Radio dot 466 00:27:42,560 --> 00:27:45,679 Speaker 1: com and I Heart Radio. Kevin Cirillian Hannoy, this is 467 00:27:45,720 --> 00:27:56,840 Speaker 1: sound on and this is Bloomberg Global News twenty four 468 00:27:56,840 --> 00:28:00,000 Speaker 1: hours a day at Bloomberg dot Com, the Bloomberg business 469 00:28:00,040 --> 00:28:03,399 Speaker 1: Is app, and a TikTok on Twitter. He's a Bloomberg 470 00:28:03,480 --> 00:28:05,840 Speaker 1: Business las it is. Indeed, we are at forty five 471 00:28:05,880 --> 00:28:08,159 Speaker 1: past the hour. Let's get you caught up on market action. 472 00:28:08,240 --> 00:28:11,480 Speaker 1: Equities in the States finished mixed. That was after US 473 00:28:11,520 --> 00:28:15,160 Speaker 1: Trade wrap. Robert Leightheiser dialed back expectations for a sweeping 474 00:28:15,160 --> 00:28:18,080 Speaker 1: trade deal with China. He told lawmakers the US is 475 00:28:18,119 --> 00:28:22,000 Speaker 1: pushing for a deal with significant structural changes to the 476 00:28:22,080 --> 00:28:25,200 Speaker 1: Chinese economic model, but he also said it's too early 477 00:28:25,240 --> 00:28:28,320 Speaker 1: to tell if China will concede to US demands. He 478 00:28:28,400 --> 00:28:32,320 Speaker 1: also said China's purchasing more US goods alone is not 479 00:28:32,520 --> 00:28:35,640 Speaker 1: enough for a deal. Down industrial average giving back about 480 00:28:35,680 --> 00:28:38,480 Speaker 1: three tenths of one percent, although the NASDAC composit did 481 00:28:38,520 --> 00:28:41,160 Speaker 1: gain one tenth of one percent. In the broader market, 482 00:28:41,200 --> 00:28:43,480 Speaker 1: the SNP five hundred was down about one tenth of 483 00:28:43,520 --> 00:28:47,040 Speaker 1: one percent. Energy shares followed the price of crude higher 484 00:28:47,080 --> 00:28:50,520 Speaker 1: after Saudi Arabia signaled it's inclined to extend the supply 485 00:28:50,680 --> 00:28:53,560 Speaker 1: cuts into the second half of the year. During the 486 00:28:53,560 --> 00:28:55,880 Speaker 1: New York session, w t I jumped two and a 487 00:28:55,880 --> 00:28:59,560 Speaker 1: half percent to fifty six nine four after the bell. 488 00:28:59,840 --> 00:29:02,800 Speaker 1: H P Inc Reported disappointing revenue for the latest quarter, 489 00:29:03,080 --> 00:29:06,240 Speaker 1: although the company said it's profit forecast what's kind of 490 00:29:06,320 --> 00:29:09,440 Speaker 1: in line with estimates. Nonetheless, those shares down about five 491 00:29:10,360 --> 00:29:13,600 Speaker 1: in late New York trading. The pound rallied against the 492 00:29:13,600 --> 00:29:16,360 Speaker 1: dollar by nearly one half of one percent on speculation 493 00:29:16,440 --> 00:29:21,240 Speaker 1: Brexit will be delayed. Leading Brexit purist Jacob Briese mag 494 00:29:21,320 --> 00:29:24,360 Speaker 1: appears to be softening his stance, and that may make 495 00:29:24,400 --> 00:29:27,320 Speaker 1: it a little more likely the divorce agreement could win 496 00:29:27,760 --> 00:29:31,960 Speaker 1: parliamentary approval next month. US Tenure Treasury last quoted in 497 00:29:32,000 --> 00:29:34,240 Speaker 1: New York in the yield of two point six eight percent. 498 00:29:34,640 --> 00:29:37,000 Speaker 1: You're caught up on markets. Let's go back now to 499 00:29:37,080 --> 00:29:40,280 Speaker 1: a special live edition of Sound On with Kevin Cirelli 500 00:29:40,360 --> 00:29:44,320 Speaker 1: live from Hanoi for the Trump Kim summit. Welcome back, 501 00:29:44,320 --> 00:29:48,440 Speaker 1: folks on Kevin Cirelli broadcasting from Hannoi, Vietnam, on top 502 00:29:48,440 --> 00:29:52,120 Speaker 1: of the old Gallery classy hotel overlooking the Juanquin Lake 503 00:29:52,560 --> 00:29:56,920 Speaker 1: in central Hanoi. It's a landmark here in Hanoi where 504 00:29:56,960 --> 00:29:59,640 Speaker 1: in just a few short hours President Trump is going 505 00:29:59,640 --> 00:30:03,120 Speaker 1: to be me eating at the Metropole Hotel, the historic 506 00:30:03,600 --> 00:30:07,040 Speaker 1: metro Pole Hotel. He dined with North Korea leader Kim 507 00:30:07,120 --> 00:30:09,920 Speaker 1: Jong nun last evening local time, or very early in 508 00:30:09,920 --> 00:30:12,800 Speaker 1: the morning Eastern Standard time. We're twelve hours ahead of 509 00:30:12,880 --> 00:30:16,120 Speaker 1: New York Eastern Standard time here, so dawn is just 510 00:30:16,280 --> 00:30:19,160 Speaker 1: breaking and President Trump is gonna have that one on 511 00:30:19,280 --> 00:30:21,640 Speaker 1: one with North Korea leader Kim Jong un. But all 512 00:30:21,720 --> 00:30:25,600 Speaker 1: eyes in America are focused on this bombshell day of 513 00:30:25,680 --> 00:30:31,320 Speaker 1: testimony from long time President Trump confidante and fixer personal 514 00:30:31,320 --> 00:30:34,720 Speaker 1: attorney Michael Cohen. He testified in the House uh and 515 00:30:34,720 --> 00:30:37,680 Speaker 1: and really portrayed President Trump as someone who knew what 516 00:30:37,760 --> 00:30:42,080 Speaker 1: was going on with Roger Stone's contact, Julian Massage, and 517 00:30:42,160 --> 00:30:48,080 Speaker 1: wiki leaks. And it was just a gripping day of testimony, 518 00:30:48,480 --> 00:30:51,520 Speaker 1: uh and one that even caught the President's attention. He 519 00:30:51,560 --> 00:30:54,800 Speaker 1: was asked about it by our colleagues at the Associated Press. 520 00:30:54,800 --> 00:30:57,040 Speaker 1: White housden't like that it was during a photo op 521 00:30:57,120 --> 00:31:00,160 Speaker 1: with Kim Jong un. Uh and our colleague in the 522 00:31:00,160 --> 00:31:03,640 Speaker 1: White House Press Corps also asked about the other issues 523 00:31:04,400 --> 00:31:08,520 Speaker 1: of relevance, including the denuclearization talks that are happening the 524 00:31:08,560 --> 00:31:11,320 Speaker 1: second Summit and under a year folks between North Korea 525 00:31:11,480 --> 00:31:14,800 Speaker 1: and the U. Asks joining me on the line as 526 00:31:14,840 --> 00:31:19,160 Speaker 1: Congressman french Hill, he's a Republican from Arkansas and Congressman 527 00:31:19,200 --> 00:31:23,280 Speaker 1: I gotta get your take on how what you make 528 00:31:23,440 --> 00:31:28,720 Speaker 1: of of Michael Cohen's testimony today. Well, of course it 529 00:31:28,960 --> 00:31:33,640 Speaker 1: is sensational and everything about Michael Cohen is sensational. So 530 00:31:33,680 --> 00:31:35,840 Speaker 1: he's back on the hill saying that when he lied 531 00:31:35,960 --> 00:31:39,360 Speaker 1: the previous time, uh, it wasn't right. And now he's 532 00:31:39,400 --> 00:31:42,720 Speaker 1: not lying and he's telling the truth. So when you've 533 00:31:42,720 --> 00:31:45,160 Speaker 1: got this cast of characters, you don't know where the 534 00:31:45,160 --> 00:31:48,040 Speaker 1: truth lies. But it was a circus in the House 535 00:31:48,280 --> 00:31:52,440 Speaker 1: Rayburn office building. They used the Energy and Commerce Hearing 536 00:31:52,520 --> 00:31:56,120 Speaker 1: Room Kevin just across the hallway from the House Financial 537 00:31:56,120 --> 00:31:59,720 Speaker 1: Services Committee where we were hosting pet pet Chairman j 538 00:32:00,040 --> 00:32:04,200 Speaker 1: hell So there wasn't a room for another visitor, TV 539 00:32:04,400 --> 00:32:07,640 Speaker 1: camera or reporter. I mean it was and there was, 540 00:32:08,200 --> 00:32:11,400 Speaker 1: mind you, the FED chair was testifying. He day two 541 00:32:11,400 --> 00:32:14,120 Speaker 1: of his testimony. He says, the economy is in pretty 542 00:32:14,160 --> 00:32:17,040 Speaker 1: good shape. And then you've got Bob Lightheiser, the U. S. 543 00:32:17,080 --> 00:32:21,760 Speaker 1: Trade representative, he was testifying. And then you've got Michael Cohen. Uh, 544 00:32:21,840 --> 00:32:24,920 Speaker 1: and he's by the way, Bob Lnheiser says, the patient 545 00:32:25,000 --> 00:32:27,240 Speaker 1: folks with the U. S trying to trade deal. But 546 00:32:27,360 --> 00:32:30,160 Speaker 1: the Michael Cohen thing, I mean, was there anything that 547 00:32:30,240 --> 00:32:35,120 Speaker 1: emerged today, Congressman that causes you gives you pause? In 548 00:32:35,240 --> 00:32:40,160 Speaker 1: terms of President Trump's involvement with Wiki leaks or or 549 00:32:40,200 --> 00:32:42,080 Speaker 1: what are you waiting for? Or what are you what? 550 00:32:42,120 --> 00:32:45,120 Speaker 1: Do you? Yeah? What? What? A lot of folks are 551 00:32:45,120 --> 00:32:47,000 Speaker 1: saying this could be a tipping point. Did you see 552 00:32:47,000 --> 00:32:49,680 Speaker 1: it as a tipping point at all? You know, Kevin, 553 00:32:49,720 --> 00:32:51,520 Speaker 1: I don't know that it's a tipping point. You had 554 00:32:51,600 --> 00:32:55,520 Speaker 1: Richard Burson or Richard Burr from North Carolina complete the 555 00:32:55,600 --> 00:32:59,120 Speaker 1: Senate review of all this material in the last few days, 556 00:32:59,160 --> 00:33:03,480 Speaker 1: and they aim to an unsensational conclusion that they didn't 557 00:33:03,520 --> 00:33:08,560 Speaker 1: seek connection between the Trump organization, Trump campaign with Russia. 558 00:33:08,720 --> 00:33:11,480 Speaker 1: So I think people on Capitol Hill don't know what 559 00:33:11,600 --> 00:33:14,080 Speaker 1: to make of it, and that's why they're waiting patiently 560 00:33:14,200 --> 00:33:17,880 Speaker 1: for the result of the Moller investigation. Congressman French Hill, 561 00:33:18,000 --> 00:33:22,000 Speaker 1: a Republican from Arkansas, joining us on the telephone line 562 00:33:22,040 --> 00:33:24,719 Speaker 1: from Washington, d C. He, of course, is also a 563 00:33:24,720 --> 00:33:29,360 Speaker 1: member of the House Financial Services Committee. I'm broadcasting from Hanoi, 564 00:33:29,440 --> 00:33:32,800 Speaker 1: and take from your perspective, I mean, go give us 565 00:33:32,800 --> 00:33:35,520 Speaker 1: a little bit of behind the scenes here. Why was 566 00:33:35,560 --> 00:33:39,080 Speaker 1: this hearing scheduled for today? Why did the Democrats schedule 567 00:33:39,160 --> 00:33:44,560 Speaker 1: this this particular hearing for today. Well, um, I don't 568 00:33:44,600 --> 00:33:47,760 Speaker 1: know that precisely. I refer you to the Speakers Office. 569 00:33:47,880 --> 00:33:50,000 Speaker 1: But it could possibly be, of course, as you know, 570 00:33:50,080 --> 00:33:54,520 Speaker 1: by Washington maneuvering and politics, to simply step on the 571 00:33:54,640 --> 00:33:59,680 Speaker 1: story of President Trump historically being in Hanoi and engaging 572 00:33:59,760 --> 00:34:03,400 Speaker 1: in the second bilateral meeting with North Korea. That's a 573 00:34:03,520 --> 00:34:07,880 Speaker 1: typical Washington ploy And I will tell you I spoke 574 00:34:07,880 --> 00:34:11,279 Speaker 1: with the source close to Michael Cohen, didn't speak. I 575 00:34:11,440 --> 00:34:16,759 Speaker 1: texted with a source, uh close to Michael Cohen earlier 576 00:34:16,800 --> 00:34:21,440 Speaker 1: today who flagged me about the come I don't want 577 00:34:21,440 --> 00:34:23,239 Speaker 1: to call to come back, but but the comments that 578 00:34:23,280 --> 00:34:27,440 Speaker 1: we're going to come about Michael Cohen talking specifically about Vietnam. 579 00:34:27,480 --> 00:34:31,520 Speaker 1: And during that hearing before the House Committee, Michael Cohen 580 00:34:31,640 --> 00:34:33,719 Speaker 1: said that that one of the things that he was 581 00:34:33,800 --> 00:34:37,400 Speaker 1: tasked with fixing as a fixer during his time with 582 00:34:37,800 --> 00:34:41,960 Speaker 1: President then private citizen Donald Trump, was squashing all of 583 00:34:42,000 --> 00:34:45,400 Speaker 1: the controversy about the allegations that Donald Trump dodged the 584 00:34:45,480 --> 00:34:50,000 Speaker 1: Vietnam Vietnam Draft. So it was a fiery hearing. It 585 00:34:50,040 --> 00:34:53,319 Speaker 1: was an explosive hearing. And Jordan Fabian, who is also 586 00:34:53,400 --> 00:34:56,760 Speaker 1: with us, he's in our DC studio, White House correspondent 587 00:34:56,760 --> 00:34:59,400 Speaker 1: for The Hill newspaper. Do you think it changes the dynamics, 588 00:34:59,440 --> 00:35:04,480 Speaker 1: the political dynamics of Republicans and Democrats at all. You know, 589 00:35:04,520 --> 00:35:07,239 Speaker 1: while this hearing was explosive, Kevin, it's hard to say 590 00:35:07,280 --> 00:35:09,640 Speaker 1: this is gonna move the needle. Um. If you looked 591 00:35:09,640 --> 00:35:12,040 Speaker 1: at the questions from both sides of the aisle, it 592 00:35:12,120 --> 00:35:14,879 Speaker 1: seems like most people in that hearing room had their 593 00:35:14,880 --> 00:35:17,680 Speaker 1: mind made up already about Michael Cohen going into that hearing, 594 00:35:17,760 --> 00:35:20,319 Speaker 1: So Um coming out of this, I doubt that it's 595 00:35:20,320 --> 00:35:22,719 Speaker 1: going to shift the partisan wins, though it does give 596 00:35:22,760 --> 00:35:26,080 Speaker 1: some new investigator strands for the Oversight Committee and other 597 00:35:26,080 --> 00:35:30,120 Speaker 1: panels to track down. Go ahead, Mike, I would slightly 598 00:35:30,800 --> 00:35:33,080 Speaker 1: add to that. I do think it has a real 599 00:35:33,120 --> 00:35:36,799 Speaker 1: potential to change the dynamics with the public. Probably not 600 00:35:36,960 --> 00:35:40,920 Speaker 1: with hardcore Trump supporters, you do probably make up a 601 00:35:40,960 --> 00:35:44,799 Speaker 1: majority of the Republican electorate, but with the people in 602 00:35:44,840 --> 00:35:48,640 Speaker 1: the middle, and over time that will have an impact 603 00:35:49,160 --> 00:35:53,200 Speaker 1: on lawmakers. Maybe probably not lawmakers on either the Oversight 604 00:35:53,200 --> 00:35:56,200 Speaker 1: Committee or the Judiciary Committee, where you tend to pick 605 00:35:56,640 --> 00:36:01,920 Speaker 1: reliable partisans, but other lawmakers in Congress. Um. So to 606 00:36:02,000 --> 00:36:04,600 Speaker 1: the extent that it does change the popular culture, the 607 00:36:04,680 --> 00:36:07,799 Speaker 1: popular view, over time, it will feed into Congress. It's 608 00:36:07,840 --> 00:36:10,560 Speaker 1: Mike Dorning Bloomberg News White House edator joining us from 609 00:36:10,560 --> 00:36:14,480 Speaker 1: our DC studio. Congressman french Hill, a Republican from Arkansas, 610 00:36:14,520 --> 00:36:17,960 Speaker 1: also with us from Washington on the telephone line. Congressman, 611 00:36:18,040 --> 00:36:20,799 Speaker 1: So we talked about Michael Cohen, and obviously I'm here 612 00:36:20,800 --> 00:36:23,720 Speaker 1: in Hanoi. UH. In just a few short hours, this 613 00:36:23,719 --> 00:36:27,279 Speaker 1: this state two of this of this summit will will 614 00:36:27,600 --> 00:36:30,560 Speaker 1: kick start into high gear. What are you going to 615 00:36:30,680 --> 00:36:33,920 Speaker 1: be looking for? I to be honest, and you know 616 00:36:34,000 --> 00:36:37,160 Speaker 1: this as someone on the Financial Services Committee, I've instruct 617 00:36:37,200 --> 00:36:40,560 Speaker 1: just by being here, the Chinese presence has really been felt. 618 00:36:41,120 --> 00:36:46,400 Speaker 1: And the President even tweeted out that it's gonna take Japan, China, Russia, UH, 619 00:36:46,640 --> 00:36:49,160 Speaker 1: South Korea to all come together to get some type 620 00:36:49,160 --> 00:36:54,120 Speaker 1: of meaningful action. Now absolutely, because the secret with this 621 00:36:54,239 --> 00:36:58,879 Speaker 1: is we've had almost thirty years now of attempted improvements 622 00:36:58,880 --> 00:37:03,320 Speaker 1: in the behavior of North Korea unsuccessfully with presidents beginning 623 00:37:03,360 --> 00:37:07,400 Speaker 1: with President Clinton. And so it is a trust but 624 00:37:07,680 --> 00:37:12,520 Speaker 1: verify situation and no enforcement of the any agreements that 625 00:37:12,560 --> 00:37:17,399 Speaker 1: could be made would be successful without UH support from 626 00:37:17,600 --> 00:37:21,160 Speaker 1: South Korea, China, Japan, and of course the neighbor to 627 00:37:21,200 --> 00:37:25,600 Speaker 1: the North Russia, very difficult situation. What I'm looking for 628 00:37:25,880 --> 00:37:30,120 Speaker 1: is is there a path that analysts on both sides 629 00:37:30,160 --> 00:37:34,000 Speaker 1: of the Pacific belief is possible to lead to de 630 00:37:34,120 --> 00:37:39,120 Speaker 1: nuclearization of the peninsula and really a complete change in 631 00:37:39,200 --> 00:37:44,160 Speaker 1: the North Asia strategic balance. That would be a major accomplishment. 632 00:37:44,640 --> 00:37:46,719 Speaker 1: If we could get on that track, it would be 633 00:37:46,800 --> 00:37:50,360 Speaker 1: as seminal an event as when Bush forty one and 634 00:37:50,440 --> 00:37:54,400 Speaker 1: Helmett Cole worked with Gorba Chows to reunify Germany and 635 00:37:54,480 --> 00:37:58,880 Speaker 1: maintain Germany's position with NATO. It was also thought to 636 00:37:58,920 --> 00:38:05,480 Speaker 1: be impossible in nineteen nine, and so um I'm cautious, 637 00:38:05,840 --> 00:38:09,200 Speaker 1: but I want to see measurable outcomes that are enforceable 638 00:38:09,480 --> 00:38:12,360 Speaker 1: based on their discussion. And it is remarkable just to 639 00:38:12,360 --> 00:38:15,520 Speaker 1: see the relationship between the US and Vietnam and how 640 00:38:15,560 --> 00:38:19,400 Speaker 1: that's taken a remarkable term, remarkable turn in terms of 641 00:38:19,400 --> 00:38:21,799 Speaker 1: the trade relationship between these two countries. And in fact, 642 00:38:21,800 --> 00:38:24,759 Speaker 1: in between live shots yesterday, I was able to to 643 00:38:24,920 --> 00:38:29,520 Speaker 1: visit the Hilton Hannoi, or the Hannoi Hilton as it 644 00:38:29,600 --> 00:38:32,759 Speaker 1: was dubbed, where Senator, the late Senator John McCain was 645 00:38:32,800 --> 00:38:35,560 Speaker 1: imprisoned as a prisoner of war and just the the 646 00:38:35,680 --> 00:38:40,560 Speaker 1: history of this this country. Uh, it's it's everywhere here 647 00:38:40,840 --> 00:38:46,560 Speaker 1: in Hanoi and the Chinese involvement, Congressman uh is is 648 00:38:46,680 --> 00:38:50,600 Speaker 1: really felt. Uh. And from your perspective as someone who's 649 00:38:50,719 --> 00:38:55,360 Speaker 1: very aware of the global trade patterns, what it is 650 00:38:55,400 --> 00:38:59,120 Speaker 1: the impact of China? Are they what does China really 651 00:38:59,160 --> 00:39:02,359 Speaker 1: want to see North Korea the nuclearizer? Do they want 652 00:39:02,360 --> 00:39:05,080 Speaker 1: to get the upper hand here? And can they really 653 00:39:05,160 --> 00:39:09,960 Speaker 1: separate the separate the trade negotiations with the United States 654 00:39:10,040 --> 00:39:12,279 Speaker 1: from what's going on with North Korea. We've got about 655 00:39:12,280 --> 00:39:15,080 Speaker 1: a minute left. I think all the countries and North 656 00:39:15,120 --> 00:39:17,719 Speaker 1: Asia and the South Asia Sea region, from the Philippines 657 00:39:17,760 --> 00:39:21,840 Speaker 1: to South Korea to Japan, Taiwan, Vietnam all want a 658 00:39:22,480 --> 00:39:25,280 Speaker 1: presence of the United States and the region. They want 659 00:39:25,480 --> 00:39:28,040 Speaker 1: the important role of the United States and the region 660 00:39:28,160 --> 00:39:31,000 Speaker 1: is a way to keep sea lanes open and partnership 661 00:39:31,080 --> 00:39:34,400 Speaker 1: with our allies in the region, particularly India and Japan. 662 00:39:34,800 --> 00:39:36,520 Speaker 1: And so I don't think you can separate it. I 663 00:39:36,520 --> 00:39:39,640 Speaker 1: don't think the Chinese would do that. Are all part 664 00:39:39,880 --> 00:39:45,560 Speaker 1: of a complex new power relationship. Congressman Friendshiw, Republican from Arkansas, 665 00:39:45,680 --> 00:39:47,880 Speaker 1: Friend of the Program appreciate you happen on the line 666 00:39:48,239 --> 00:39:50,320 Speaker 1: with us from Washington, as well as to Mike Dorning, 667 00:39:50,320 --> 00:39:53,840 Speaker 1: Bloomberg News, white House edator, Jordan Fabian, white House corresponding 668 00:39:53,880 --> 00:39:57,480 Speaker 1: at The Hill newspaper, and Huggark Molly, former spokesperson at 669 00:39:57,520 --> 00:40:00,200 Speaker 1: the U. S. Treasury Department, in just a few hour. Worse, 670 00:40:00,239 --> 00:40:03,520 Speaker 1: it's Trump and Kim's summit on Kevin Cerilli live in Hannoi. 671 00:40:03,640 --> 00:40:09,040 Speaker 1: You're listening to sound on. This is bloomberg Y.