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Speaker 1: Why from our nations came this budget thing is going

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Speaker 1: to do nothing spaceports. I still think it's interesting President

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Speaker 1: Trump not playing his cards. Headlines Policy and politics colliding

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Speaker 1: sound on with Kevin's related the insiders, the influencers, the insides.

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Speaker 1: I would rather see a congressional solution. It's part of

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Speaker 1: my DNA. The Senate map in looks a lot different

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Speaker 1: than it looked in. You really have a divide within

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Speaker 1: Team Trump. The President has to do exactly what people

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Speaker 1: send him here to do, which is to get it done.

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Speaker 1: He's sound on with Kevin's O relate on Bloomberg one

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Speaker 1: and one oh fie m h D two Baltimore. President

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Speaker 1: Trump gives the Chinese one month, all one month to

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Speaker 1: seal the deal. To steal the trade deal or faced

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Speaker 1: tariffs on all of the exports to the United States.

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Speaker 1: This as both sides continue to try to avoid a

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Speaker 1: public breakdown in negotiations despite what is, for lack of

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Speaker 1: a better word, a stalemate, a stalemate here in the

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Speaker 1: nation's capital between the between the world's two largest economies,

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Speaker 1: the US and China. This comes as the Chinese delegation,

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Speaker 1: led by Vice Premier louisa Is negotiating with US Trade

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Speaker 1: Representative Bob Leightheiser, Treasury Secretary Stephen Manusians we're talking tariffs.

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Speaker 1: We are still talking tariffs. And House Judiciary Committee Chairman

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Speaker 1: Richard Neil, Richard Neil, the Democratic Chairman of the House

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Speaker 1: Ways and Means Committee. I stand correct, and I'm getting

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Speaker 1: Jerry Nadler and Richard Neil mixed up. It's Friday, folks.

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Speaker 1: Richard Neil, the Democratic Chairman of the House Ways and

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Speaker 1: Means Committee, issues subpoenas on Friday to Treasury Secretary Stephen

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Speaker 1: Manusian and I R S officials. They want six years

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Speaker 1: of President Donald Trump's tax return. Something tells me Secretary

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Speaker 1: Manution isn't just going to hand them over. We've got

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Speaker 1: an all star panel. I've been looking forward to this

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Speaker 1: panel all week long. Jason Miller, former senior communications advisor

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Speaker 1: for the Trump camp, Pain's former communications director for the

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Speaker 1: Trump transition, and now he's a managing director at Tanao.

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Speaker 1: And Adrian L. Rod, Democratic strategist Clinton presidential campaign, director

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Speaker 1: of Strategic Communications, and former senior aide to Hillary Clinton

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Speaker 1: presidential campaign. One month extension, one month extension. President Trump

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Speaker 1: giving the Chinese one month to seal the deal. President

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Speaker 1: Donald Trump's administration telling China it has one month or

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Speaker 1: faced tariffs on all its exports to the US. This

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Speaker 1: is the Chinese delegation from Beijing, led by Vice Premier

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Speaker 1: the Way, trying to negotiate with US Trade Representative Bob Leitheizer,

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Speaker 1: trying to negotiate with Treasury Secretary Stephen Manutium. And this

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Speaker 1: comes hours just hours after President Trump imposed a second

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Speaker 1: round of punitive duties on two hundred billion dollars worth

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Speaker 1: of Chinese Good with me for the hour. Jason Miller.

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Speaker 1: He is a top Trump insider. He's a former senior

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Speaker 1: communications advisor to the Trump campaign, former calms director for

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Speaker 1: the Trump Transition, managing director now at Taneo. And Adrian L. Rod,

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Speaker 1: democratic strategist Clinton presidential campaign director of strategic Communications, and

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Speaker 1: a former senior aide to Hillary Clinton. Appreciate both of

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Speaker 1: you for coming in. Jason, You've been back and forth

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Speaker 1: on air China and Beijing. What do you make of

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Speaker 1: these trade trade trade negotiations with a one month extension?

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Speaker 1: So I think where we are right now is that

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Speaker 1: the Chinese at this moment do not want a deal.

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Speaker 1: And I think That's an important takeaway because over this

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Speaker 1: past year with Ambassador Leiteheiser and Secretary of Nuchin, they

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Speaker 1: had really made a lot of progress. I think they

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Speaker 1: had been publicly reported they had over a hundred pages

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Speaker 1: down for this document and on such issues as cyber

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Speaker 1: hacking and forced tech transferent ip theft and all these

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Speaker 1: these very important issues that are ongoing, and I think

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Speaker 1: President she is filthy feeling a bit emboldened. He had

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Speaker 1: all the forty or so global leaders um in China

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Speaker 1: last week for their Belton road Um conference, and they

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Speaker 1: essentially are walked away from the table right now. Now.

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Speaker 1: The reason why it's important that Trump continue the pressure

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Speaker 1: here and stay on it is because these broader issues,

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Speaker 1: whether they be Chinese dumping or subsidized s oes or

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Speaker 1: currency manipulation, these are still issues that we're gonna be

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Speaker 1: facing against the Chinese and global marketplace for decades to come.

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Speaker 1: So that's why Trump has to stay engaged. But I

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Speaker 1: think ultimately the President wants to get a deal done.

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Speaker 1: I think ultimately the Chinese do not. The whole basis

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Speaker 1: of President Trump's re election effort is on the back

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Speaker 1: of a of a good economy and Wall Street has

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Speaker 1: just completely gone up and down and up and down

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Speaker 1: on all of these latest news of surrounding trade negotiations.

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Speaker 1: This week, the SMP five hundred recovered from earlier losses

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Speaker 1: on Friday, ending the day point four percent higher. By

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Speaker 1: the way, so it looks Wall Street took a breath,

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Speaker 1: took a breath that this could have been even much worse.

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Speaker 1: But what do you make of the president's one month President,

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Speaker 1: she or else? Well, we all know this, and certainly

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Speaker 1: Kevin you know this better than in the three of

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Speaker 1: us here because you work for Bloomberg. But we know

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Speaker 1: that the market does not react well to volatility. That

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Speaker 1: is just the plain and simple truth. And given the

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Speaker 1: fact that this is an an inconsistent policy that Trump

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Speaker 1: has made these crazy threats on Twitter, in public at

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Speaker 1: speaking again events against China. UM, and sometimes you just

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Speaker 1: don't know where he is. I mean, this was we

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Speaker 1: have to remember, this was a self perpetuated problem that

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Speaker 1: he created when he started talking about imposing tariffs on China,

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Speaker 1: much to the surprise of many economists, many people in

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Speaker 1: his own administration. UM. So I can understand why the

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Speaker 1: markets are reacting a little bit more positive and lea

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Speaker 1: than they could have been, because we do know that

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Speaker 1: we've got this one month extension. But I would hope

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Speaker 1: that President Trump would go into this next round of

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Speaker 1: negotiations whenever they actually take place, and his advisors and

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Speaker 1: actually trying to have a thoughtful, methodical discussion here as

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Speaker 1: opposed to throwing around threats, which he has been doing

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Speaker 1: this entire conversation. We're a jump in and respectfully disagree

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Speaker 1: on this is you talk about this future looking global

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Speaker 1: economic competition, the industries of their future, the robotics and

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Speaker 1: AI and aeronautics and everything that all the industries are

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Speaker 1: going to be key. If we don't do anything to

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Speaker 1: change the playing field and have it be more of

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Speaker 1: a level playing field with us in the Chinese now,

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Speaker 1: we're not going to be global players in twenty or

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Speaker 1: thirty years down the road. And I think one of

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Speaker 1: the keys for the Trump administration this is a very

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Speaker 1: important point if they're going to be successful here, we

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Speaker 1: have got to get allies on board with us, also

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Speaker 1: pressuring the Chinese because it's not just the US where

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Speaker 1: they're playing these these economic games they're doing in Japan,

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Speaker 1: they're doing to the EU well, Both of the rhetoric

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Speaker 1: coming out from Beijing as well as from President Trump

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Speaker 1: is seemingly they're not a salemate. I mean, President Trump

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Speaker 1: just within the last hour tweeted. Over the course of

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Speaker 1: the past two days, the US and China have held

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Speaker 1: candid and constructed, I'm sorry, candid and constructive conversations on

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Speaker 1: the status of the trade relationship between both countries. The

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Speaker 1: relationship between President she and myself remains a very strong one,

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Speaker 1: and conversations into the future will continue. In the meantime,

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Speaker 1: the US has imposed tariffs on China, which may or

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Speaker 1: may not be removed depending on what happens with respect

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Speaker 1: to future negotiations. Now, uh, we're getting headlines crossing the

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Speaker 1: Bloomberg terminal as we speak that. Chinese Vice Premier Luehua

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Speaker 1: has also used the same language as President Trump's tweets,

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Speaker 1: saying that the talks with the US were candid and constructive.

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Speaker 1: I want to give us just a little dose of

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Speaker 1: color because just I mean, being here in Washington, d C.

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Speaker 1: You've got Bob Mueller going to Martin's tavern the other night,

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Speaker 1: and now you've got you're ready for this. You can't

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Speaker 1: make it up. You've got Chinese Vice Premier Luehua. He's

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Speaker 1: got to have dinner, right, So where does he go

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Speaker 1: with US Trade Representative Bob Lightheiser and Treasury Secretary Stephen

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Speaker 1: Manusham the Metropolitan Club. I thought this is Cafine. Wasn't

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Speaker 1: Cafe Melana. Didn't something happen there? Something something, something always

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Speaker 1: happens in It's also Hilary's place, But that's another story.

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Speaker 1: But they're at the Metropolitan Club and they're talking all

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Speaker 1: about presumably the issues. Well, let me ask you, Adrian,

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Speaker 1: what do you think the issues that they're talking about is.

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Speaker 1: Is it specifically specifically on issues of intellectual property, on

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Speaker 1: issues of allowing the US to penetrate into the Chinese market?

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Speaker 1: And I do want to get we're getting a new

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Speaker 1: headline now Vice Premier the way, while also saying headline

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Speaker 1: on the Bloomberg terminal that China and the US have

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Speaker 1: agreed to continue talks in Beijing, in Beijing in the future.

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Speaker 1: I would assume that right now that means President Trump

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Speaker 1: is not set to go yet, but that Lightheiser a

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Speaker 1: Manution will go back to Beijing Jason to continue the talks. Yeah,

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Speaker 1: that sounds a little bit like so you're saying there's

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Speaker 1: a chance. Um, I'm not sure. From my perspective, I

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Speaker 1: think that it's very constructive, and I'm glad that that

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Speaker 1: the US is continuing to have talks with the Chinese

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Speaker 1: on this. I don't think the Chinese want to deal.

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Speaker 1: I think they're gonna try to write out President Trump

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Speaker 1: at this point. And but I think this is being

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Speaker 1: very shortsighted because the next Republican that comes in is

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Speaker 1: going to talk about democratic reforms within China that will

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Speaker 1: be lumped in with the trade negotiations. If it's a

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Speaker 1: Democrat that comes in, they're going to talk about human

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Speaker 1: rights issues and the weakers and what's going on there

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Speaker 1: that's gonna be interwoven with the trade talks. If the

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Speaker 1: Chinese were smart, they take a deal with Trump, because

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Speaker 1: you don't know what you're gonna get the next president.

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Speaker 1: Al Right, coming up, we're gonna talk more about these investigations.

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Speaker 1: Maybe maybe is there like a Metropolitan Club equivalent in Beijing?

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Speaker 1: Who knows? Adrian el Rods stays Democratic strategist, Hillary Clinton insider,

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Speaker 1: and Jason Miller he is a Trump former, he's a

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Speaker 1: Trump World insider, and he's at Sendao Strategy I'm Kevin Cirilli,

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Speaker 1: Chief Washington correspondent from Bloomberg Televisi and Bloomberg Radio. You

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Speaker 1: can download the sound on podcast on Apple iTunes, at

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Speaker 1: Bloomberg dot com, or by downloading the Bloomberg Business app.

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Speaker 1: You can also find us on Radio dot com, I

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Speaker 1: Heart Radio and Spotify. You're listening to Bloomberg. This is

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Speaker 1: Sound On with Kevin serially on Bloomberg one and one

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Speaker 1: oh five point seven of m h D two. Boltemore.

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Speaker 1: The case that we've protempted to build is based on substance.

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Speaker 1: We've stayed away the fanfare, we've stayed away from, I

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Speaker 1: think some of the hyperbolic conversation, and we've protempted to

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Speaker 1: reason this through based upon the advice of our attorneys.

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Speaker 1: That was how that was Democratic Houseways amidens Committee Chairman

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Speaker 1: Richard neil Uh speaking earlier today about whether or not

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Speaker 1: he would issue subpoenas to try to get President Trump's

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Speaker 1: tax returns, and well he did. By the end of

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Speaker 1: the day, he had issued subpoenas to try to get

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Speaker 1: President Trump's tax return six years worth. He's issued those

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Speaker 1: subpoenas to Treasury Secretary Stephen manuition as well as Internal

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Speaker 1: Revenue Service Commissioner Charles Ruddick. He's demanding, demanding that they

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Speaker 1: turn over President Trump's taxes. Adrian el Rod is a

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Speaker 1: Hillary Clinton insider, former senior advisor to the Clinton campaign.

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Speaker 1: She's with us in studio, as is Jason Miller, Trump

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Speaker 1: World insider, former COLMS director on the last Trump campaign,

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Speaker 1: the Trump transitioned uh, and now he's a managing director

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Speaker 1: at Taneo Strategies. Adrian, I just don't think that the

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Speaker 1: White House is gonna say, you know what, we changed

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Speaker 1: our mind here, President. So what's the play here? Well,

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Speaker 1: the play here is that you've got a number of

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Speaker 1: members of Congress and a number of Senators, including some

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Speaker 1: you know Republicans in there, who are trying to make

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Speaker 1: sure that sure to Burn I know, right, he's kind

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Speaker 1: of like the hero of the day to a lot

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Speaker 1: of Democrats at this point. Um, But but look, you've

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Speaker 1: stop until we get answers. And you know what, this

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Speaker 1: I've been saying it a lot lately, Um, since the

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Speaker 1: Muller reporters come out, which is if you look If

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Speaker 1: you take away the politics of impeachment, if you take

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Speaker 1: a lot of the way the politics of congressional oversight

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Speaker 1: and take a step back and realize this is actually

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Speaker 1: Congress's function, this is their constitutional responsibility to conduct oversight

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Speaker 1: of the executive branch, things become a lot more clear.

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Speaker 1: There are so many answers, and if Trump and his

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Speaker 1: allies are able to get away with a number of

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Speaker 1: things that they have committed, um in a number of

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Speaker 1: outstanding issues that we still have to look at have

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Speaker 1: not been resolved, then future presidents will think, oh, you know,

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Speaker 1: I can get away with just about anything, and Congress

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Speaker 1: is not going to punish me for it. Therefore, I've

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Speaker 1: got a free, long runway here in order to do

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Speaker 1: whatever I want to do. So that is why I

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Speaker 1: am so glad that Congress is staying on top of this,

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Speaker 1: because you cannot give the president a free pass just

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Speaker 1: because he's a president the president, and just because you

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Speaker 1: worry about the political risk involved with making some of

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Speaker 1: these decisions. So we're respectfully disagree. Is I don't think

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Speaker 1: that's an issue of Democrats not stopping until they get answers.

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Speaker 1: I think it's an issue of Democrats on Capitol Hill,

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Speaker 1: not stopping until President Trump is out of office. And

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Speaker 1: where you see them going, Oh, I think they may

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Speaker 1: keep going when he's out of office. It's it's they're

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Speaker 1: they're obsessed. But that's what this is ultimately about, is

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Speaker 1: trying to get Trump out of office. They don't like

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Speaker 1: the answers that they got from the Mueller report, and

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Speaker 1: they essentially want to do over. And here's where my

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Speaker 1: biggest beef is with the continued congressional drama. Actually two

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Speaker 1: big beaks here, But the first is I don't understand

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Speaker 1: what congressional Democrats think that they're going to get the

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Speaker 1: former FBI director Mueller wasn't able to. And so it's say,

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Speaker 1: for example, take this nonsense of what Unfortunately there's a

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Speaker 1: Republican who falls in this mix of Senate Intel Chair

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Speaker 1: Richard Burr, who, for reasons to boggle my mind, served

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Speaker 1: at the subpoena to Don Jr. And I hope Don

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Speaker 1: Junior tells them to go pound sand. But what is

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Speaker 1: it that Chairman Burr is going to figure out here?

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Speaker 1: The Bob Muller couldn't Andrew? What's the fair point? I mean,

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Speaker 1: what is it that that Congress would be able to

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Speaker 1: get that. Bob Mueller spent twenty two months subpoenas. Uh,

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Speaker 1: really a thorough investigation. I think everyone would agree. So

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Speaker 1: what can what can Congress get the Bob Muller can Well,

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Speaker 1: Bob Mueller's report is the roadmap. He laid out a

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Speaker 1: roadmap for Congress to look into these issues. He was

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Speaker 1: not saying I am concluding on behalf of the United

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Speaker 1: States government, I'm out. He is simply saying, this is

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Speaker 1: what my investigators, myself and my investigators found. Now, Congress,

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Speaker 1: it is your job to determine what to do next,

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Speaker 1: and that is exactly what Congress is is doing at

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Speaker 1: this moment. Jason Adrian mentions the roadmap, and I think

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Speaker 1: that's such a fascinating point, especially when you try to

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Speaker 1: look at all of the different questions that did a

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Speaker 1: large portion of Americans still have about these investigations. And actually,

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Speaker 1: Congressman Adam Schiff, your friend, Jason just kidding. Congressman Adam Schiff,

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Speaker 1: a Democrat from California. I believe he's one of the

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Speaker 1: folks running for president, right, No, he's not. He's one

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Speaker 1: of three. You're not You're not running for president. Um,

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Speaker 1: I know it may surprise you, but I'm not. Okay, Well,

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Speaker 1: he was speaking with Axios earlier today. I can't keep

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Speaker 1: count of the Sorry, I apologize for saying this. The

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Speaker 1: lower tier, the lower tier candidates, I can't keep out.

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Speaker 1: But Congressman Adam Ship, Democrat in California. He was asked

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Speaker 1: about the roadmap that Adrian was speaking to and how

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Speaker 1: to follow with our friends at Axios. Take a listen

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Speaker 1: to Congressman chief. That's a big step. But look, if

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Speaker 1: we're going to consider other big steps like impeachment, we

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Speaker 1: ought to consider steps like inherent contempt that will allow

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Speaker 1: us to get the information we need. Okay. He was

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Speaker 1: talking about the House Judiciary Committee voting earlier this week

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Speaker 1: the whold Attorney General William Barr in contempt of Congress.

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Speaker 1: But there hasn't been a vote that's been scheduled for

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Speaker 1: the on the floor of the House to hold him

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Speaker 1: in contempt. That's why not Well, I think, well, I

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Speaker 1: think Pelosi is is leading her um lieutenants, if you will, um,

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Speaker 1: and they're having discussions and you will see this at

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Speaker 1: some point, probably in the near future. But I also

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Speaker 1: wanted to hone in on something that Adam Shifts said

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Speaker 1: earlier in the week too. I think it was on

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Speaker 1: maybe it was on a Sunday show last weekend or

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Speaker 1: during an interview with MSNBC, but he made the point

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Speaker 1: that if we are going to hold votes on either

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Speaker 1: sensor resolutions or whole administration officials in contempt, let's do

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Speaker 1: this systematically. Let's do this all, you know, uniform manner,

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Speaker 1: so that not every week we've got this driving the news.

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Speaker 1: I think that's very important. But I think that's very

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Speaker 1: important for Democrats to do that, because otherwise we do

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Speaker 1: risk this taking over the entire news cycle, which frankly

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Speaker 1: is not what any Democratic running in wants to see happen.

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Speaker 1: It's also hard to follow though, I mean it's like

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Speaker 1: which which committee, which thing? If this guy isn't content,

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Speaker 1: this guy gets subpoena, there's this other subpoenas subpoenas, It's like,

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Speaker 1: what is the road now? I think I think, Jason,

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Speaker 1: you're gonna agree with Adrian. I completely do it. I've

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Speaker 1: done it again, folks. I found an area where they

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Speaker 1: agree that you should be since the resolution, Well, here's

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Speaker 1: the thing. If they want to keep if Democrats on

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Speaker 1: Capitol Hill want to keep barking up this tree. Every

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Speaker 1: minute that Democrats on Capitol Hill are talking about impeachment

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Speaker 1: or taxes or Don Jr. Or some other aspect of drama,

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Speaker 1: it's one minute they're not talking about healthcare or climate

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Speaker 1: change or worker pay or anything that voters are actually

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Speaker 1: out there talking about. At a certain point, there's gonna

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Speaker 1: be a reckoning between candidates running and Democrats on Capitol

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Speaker 1: Hill saying, hey, guys, we're trying to run for president.

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Speaker 1: You need to shut up. I gotta say some of

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Speaker 1: the rhetoric coming out of the White House is softer

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Speaker 1: on China than it is on Richard Burke. I mean,

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Speaker 1: like they think, say what you want about Republicans. They

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Speaker 1: eat each other alive when they like it. It's like

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Speaker 1: it's like I'm back in Delco. Coming up, we switched gears.

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Speaker 1: We talk about Iran, the situation in Iran, the geopolitics

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Speaker 1: surrounding that, plus more on presidential politics surrounding trade policy.

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Speaker 1: I'm Kevin Cilli, Chief Washington correspondent for Bloomberg Television and

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Speaker 1: Bloomberg Radio. Jason Miller stays Trump World Insider Managing director

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Speaker 1: at ten Ao Strategy. Adrian L. Rod stays Democratic strategist

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Speaker 1: Hillary Clinton insider UH and former HUD HUD advisor. Right,

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Speaker 1: did you work in? But the things that I remember

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Speaker 1: the things that I didn't know. Hey, you could have

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Speaker 1: worked for Secretary Carson. Download the sound on podcast on

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Speaker 1: Apple iTunes. We've just started the sound on extra as

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Speaker 1: well with Apple iTunes. At Bloomberg dot com or by

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Speaker 1: downloading the Bloomberg Business app. You can also find us

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Speaker 1: on Radio dot com, I Heart Radio, and Spotify, and

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Speaker 1: of course on the Bloomberg terminal. You're listening to Bloomberg one. Now,

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Speaker 1: this is Sound on with Kevin's really on Bloomberg and

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Speaker 1: one oh seven F M h D two Baltimore, t

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Speaker 1: g I F. We made it to Friday. I'm Kevin Cirelli,

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Speaker 1: Chief Washington correspondent from Bloomberg Television and Bloomberg Radio. It's

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Speaker 1: Mother's Day on Sunday. It's Mother's Day on Sunday. This

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Speaker 1: is your reminder. It is Mother's Day on Sunday. Don't

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Speaker 1: be that person, don't forget call mom, by mom and gift.

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Speaker 1: It was a busy geo political week. We all week,

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Speaker 1: especially with regards to two oil rich nations, including Venezuela.

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Speaker 1: The Trump administration threatened to sanction members of Venezuela's security

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Speaker 1: forces after the nation's embattled president, Dictator Nicolas Maduro, began

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Speaker 1: cracking down on ally is to the National Assembly leader

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Speaker 1: Juan guadel This according to the White House editor of

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Speaker 1: Bloomberg News, Alex Wayne, reading his report on the Bloomberg Terminal,

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Speaker 1: Secretary Manution, he has had a busy week. I mean,

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Speaker 1: Secretary Manution has had a busy week. He's negotiating with

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Speaker 1: the Chinese Democrats on the hill, are issuing subpoenas to

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Speaker 1: try to get President Trump's tax return, and now he's

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Speaker 1: got this situation boiling down in Venezuela. The Secretary of

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Speaker 1: the Treasurer put out a statement saying that venezuela Is

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Speaker 1: military and intelligence services, as well as those who support them,

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Speaker 1: are being put on notice that they're continued backing of

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Speaker 1: the illegitimate Madurero regime will be met with serious consequences.

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Speaker 1: I'm paraphrasing, but a ka to translate the Secretary of Treasury,

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Speaker 1: it could be oil sanctions. Speaking of oil sanctions Iran,

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Speaker 1: there's been multiple, multiple uh the elepments this week. Specifically

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Speaker 1: a couple of weeks ago with a decision to not

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Speaker 1: renew waivers for Iran for countries doing business with Iran,

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Speaker 1: including China, and of course now the threat of tariffs

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Speaker 1: on commodities coming out of Iran as well. Yesterday on

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Speaker 1: the program, we had Democratic presidential candidate and Hawaii Congresswoman

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Speaker 1: Tulsi Gabbert on She was really delivering a blistering critique

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Speaker 1: of the administration's policies. But President Trump, for his part,

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Speaker 1: has spoke earlier this week about Iran. Take a listen

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Speaker 1: to what President Trump had to say about Iran yesterday.

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Speaker 1: I look forward today where we can actually help Iran.

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Speaker 1: We're not looking to her to run. I want them

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Speaker 1: to be strong and great and have a great economy.

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Speaker 1: With me in studio, Adrian L. Rod. She is a

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Speaker 1: Hillary Clinton insider as well as a Democratic strategist. And

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Speaker 1: Jason Miller former senior communications advisor to the Trump campaign.

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Speaker 1: Now he's a managing director at Neo Strategy. Adrian, is

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Speaker 1: this the right approach? I mean, I take it you

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Speaker 1: disagree with the White House's approach to Iran. Yeah. Absolutely.

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Speaker 1: I mean we have to take a step back here,

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Speaker 1: Kevin and realize how difficult it was for the Obama

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Speaker 1: administration to get this deal done in the first place.

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Speaker 1: It was a very carefully constructed deal that took a

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Speaker 1: lot of time, a lot of negotiations. It was very

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Speaker 1: methodically thought out. And then Trump comes into the White

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Speaker 1: House and rips the whole thing apart um. So I

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Speaker 1: don't agree obviously with the White House on this. There's

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Speaker 1: a lot at steak. I hope we can get this resolved.

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Speaker 1: One thing that I am in particular, I am particularly

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Speaker 1: concerned with is the fact that John Bolton, he's a

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Speaker 1: military interventionalist. He wrote an option in The New York

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Speaker 1: Times in two thousand and fifteen basically saying the only

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Speaker 1: way to solve the situation with Iran is to bomb them. Um.

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Speaker 1: So that's what we're dealing with here. So when we

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Speaker 1: when you realize how high the stakes are here, um,

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Speaker 1: and the fact that our own security, the United States,

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Speaker 1: the security the United States at um, this is something

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Speaker 1: that cannot be taken lightly. And that's why so many

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Speaker 1: people were concerned on frankly, both sides of the aisle

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Speaker 1: when Trump came in and ripped up this deal. Well,

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Speaker 1: and my perspective on this is that I'm glad that

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Speaker 1: the President Trump has taken this tough stand on Iran

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Speaker 1: for a couple of reasons. Number one, that to the

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Speaker 1: world's largest exporter of terrorism. In fact, there's a great

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Speaker 1: article that Josh Meyer from Politico wrote last year called

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Speaker 1: the secret backstory of how Obama lets Blah off the

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Speaker 1: hook as part of the Aran deal, and it's it's fascinating,

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Speaker 1: as we talked Venezuela as well, because HESBLA is in Venezuela.

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Speaker 1: They're in there now helping to protect Maduro and all

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Speaker 1: this kind of ties together. But I think that we

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Speaker 1: have to continue to put this pressure on Iran, go

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Speaker 1: absolute economic pressure because at the top you have this

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Speaker 1: theocratic regime. But the Iranian people it was only what

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Speaker 1: thirty years ago that actually people had more freedoms, but

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Speaker 1: they've taken a big step backwards. I'm glad to see

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Speaker 1: the President being tough here all the issue of where

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Speaker 1: this all goes in terms of in terms of the

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Speaker 1: presidential campaign, I mean president candidate Donald Trump ran as

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Speaker 1: someone who was not he didn't want wars, and now

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Speaker 1: you have Tulsi Gabbert's voice. I mean, she's a lower

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Speaker 1: I would yeah, I wouldn't exactly. I wouldn't say that

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Speaker 1: she's a friend, but I think but but right, I would.

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Speaker 1: I would say the polling and data and my reporting

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Speaker 1: would suggest that as well. But uh, in terms of

428
00:24:32,240 --> 00:24:34,960
Speaker 1: in terms of the American people's appetite to have military

429
00:24:35,040 --> 00:24:37,480
Speaker 1: conflict with Iran, I mean that that is something. I

430
00:24:37,560 --> 00:24:40,200
Speaker 1: think that that will definitely be at the forefront of

431
00:24:40,800 --> 00:24:44,840
Speaker 1: of a foreign policy debate, both in the Democratic presidential

432
00:24:44,880 --> 00:24:47,880
Speaker 1: primaries and also on the main stage between the nominee

433
00:24:48,000 --> 00:24:51,200
Speaker 1: and President Trump. No, no, absolutely, of course Americans don't

434
00:24:51,200 --> 00:24:52,960
Speaker 1: want this, and there there's no reason to have this.

435
00:24:53,080 --> 00:24:57,399
Speaker 1: And again, this is why when President Obama can straightened,

436
00:24:57,400 --> 00:25:02,040
Speaker 1: his administration constructed this. I this initial policy with Iran

437
00:25:02,200 --> 00:25:05,160
Speaker 1: is deal with Iran. It was so it was such

438
00:25:05,160 --> 00:25:08,760
Speaker 1: a precarious situation, but it was also something that was

439
00:25:08,800 --> 00:25:11,400
Speaker 1: a huge victory when it when it was ultimately accomplished,

440
00:25:11,840 --> 00:25:15,040
Speaker 1: and the administration at the time had the viewpoint that

441
00:25:15,760 --> 00:25:18,919
Speaker 1: it's better to negotiate with them to ensure that they

442
00:25:18,960 --> 00:25:22,280
Speaker 1: are not enriching uranium, that they are not ultimately putting

443
00:25:22,280 --> 00:25:24,800
Speaker 1: Americans at risk. And in the deal, although it was

444
00:25:24,840 --> 00:25:27,200
Speaker 1: certainly was not perfect, and I think there are I

445
00:25:27,240 --> 00:25:30,720
Speaker 1: think plenty of people in the Obama administration who admitted

446
00:25:30,760 --> 00:25:34,520
Speaker 1: that of the time it was very, very needed because

447
00:25:34,640 --> 00:25:37,680
Speaker 1: we were living in fear every single day that Iran

448
00:25:37,840 --> 00:25:40,119
Speaker 1: might do something to us. And now we're back in

449
00:25:40,200 --> 00:25:42,359
Speaker 1: the same place that we worked for no reason other

450
00:25:42,440 --> 00:25:45,440
Speaker 1: than the fact that Trump wanted to take, wanted to

451
00:25:45,560 --> 00:25:48,200
Speaker 1: end dismantle what Obama had put together on that are

452
00:25:48,280 --> 00:25:49,720
Speaker 1: coming up. We're gonna talk a little bit more for

453
00:25:49,840 --> 00:25:51,800
Speaker 1: a policy and we're also going to switch back to

454
00:25:51,960 --> 00:25:55,600
Speaker 1: trade panelties. Adrian L. Rod, Jason Miller. I'm Kevin CURRELLI,

455
00:25:55,720 --> 00:25:59,320
Speaker 1: chief Washington correspondent for Bloomberg Television and Bloomberg Radio. You're

456
00:25:59,359 --> 00:26:06,720
Speaker 1: listening to Bomberg. This is Sound On with Kevin's on

457
00:26:06,880 --> 00:26:13,200
Speaker 1: Bloomberg and m h D two Baltimore. Happy Friday, Happy

458
00:26:13,359 --> 00:26:17,080
Speaker 1: Mother's Day weekend. Mother's Day is on Sunday. I'm Kevin Cirelli,

459
00:26:17,160 --> 00:26:20,760
Speaker 1: chief Washington correspondent for Bloomberg Television and Bloomberg Radio. We

460
00:26:20,840 --> 00:26:26,280
Speaker 1: are talking all things politics, policy and international politics as well.

461
00:26:26,960 --> 00:26:30,159
Speaker 1: I want to get back to the trade issue that

462
00:26:30,240 --> 00:26:35,000
Speaker 1: has dominated the streets attention for all week. This as

463
00:26:35,119 --> 00:26:39,040
Speaker 1: US Trade Representative Bob Lightheiser and Treasury Secretary Stephen Manutian

464
00:26:39,320 --> 00:26:43,320
Speaker 1: have been negotiating with Chinese Vice premier. The way, they

465
00:26:43,359 --> 00:26:45,720
Speaker 1: were all over town. They were spotted at the Metropolitan

466
00:26:45,760 --> 00:26:48,840
Speaker 1: Club in Washington, they were at the White House, the

467
00:26:49,000 --> 00:26:52,600
Speaker 1: US Trade Representative building, all over town. And what happens,

468
00:26:53,040 --> 00:26:56,920
Speaker 1: No deal, No deal. President Trump said, they've got one month.

469
00:26:57,040 --> 00:27:00,440
Speaker 1: The Chinese have one month before they there will be

470
00:27:01,000 --> 00:27:03,600
Speaker 1: additional tariffs. With me for the hour, We've had fun

471
00:27:03,760 --> 00:27:06,240
Speaker 1: this show, Jason Miller, we always have fun on sound on.

472
00:27:06,440 --> 00:27:10,280
Speaker 1: Jason Miller, Republican strategist, former senior communications adviser to the

473
00:27:10,320 --> 00:27:14,320
Speaker 1: Trump campaign. Now he's a managing director for TENEO Strategy.

474
00:27:14,400 --> 00:27:17,320
Speaker 1: One of the most plugged in folks in d C

475
00:27:18,200 --> 00:27:21,040
Speaker 1: to Trump World. Adrian el Rod is like the polar

476
00:27:21,119 --> 00:27:24,280
Speaker 1: opposite of Jason Miller. She is the most one of

477
00:27:24,320 --> 00:27:27,520
Speaker 1: the best plugged into Hillary world. She's a Democratic strategist

478
00:27:27,520 --> 00:27:31,520
Speaker 1: Clinton twenty sixteen presidential campaign, director of strategic communications, and

479
00:27:31,640 --> 00:27:35,000
Speaker 1: former senior aide to Hillary Clinton. Howard, Bill and Hillary,

480
00:27:35,320 --> 00:27:37,800
Speaker 1: they're great. What are they up to? Well, they just

481
00:27:37,880 --> 00:27:40,439
Speaker 1: finished this as speaking tour they've been doing around the country.

482
00:27:41,800 --> 00:27:43,679
Speaker 1: I didn't unfortunately, was not able to go when they

483
00:27:43,720 --> 00:27:46,080
Speaker 1: were here in d CNE. But I did see you

484
00:27:46,160 --> 00:27:49,160
Speaker 1: were at a you were at the Fleetwood Mac con. Yes, yes,

485
00:27:49,440 --> 00:27:52,280
Speaker 1: with Hillary Clinton. Jennifer Palm, Mary and I are huge

486
00:27:52,480 --> 00:27:55,320
Speaker 1: Stephen Knicks fans. I'm a huge Stephen Nickston Jason. Are

487
00:27:55,320 --> 00:27:59,560
Speaker 1: you as Stephen Nickston love Fleetwood Mac? But poor lindsay yeah,

488
00:27:59,680 --> 00:28:03,479
Speaker 1: but they're they're okay with it, Like enough about the music, kick,

489
00:28:03,520 --> 00:28:07,199
Speaker 1: you're at a concert with Hillary Radom. We invited her

490
00:28:07,200 --> 00:28:10,520
Speaker 1: to join us. We had an extra ticket. She was

491
00:28:10,680 --> 00:28:13,119
Speaker 1: excited to come, and it just worked out that their

492
00:28:13,200 --> 00:28:15,639
Speaker 1: schedule was was open that night, so we had a

493
00:28:15,720 --> 00:28:17,720
Speaker 1: great time. What was what was like the favorite song

494
00:28:17,840 --> 00:28:22,160
Speaker 1: that she bopped along too? I mean, you know my favorite?

495
00:28:22,200 --> 00:28:25,920
Speaker 1: I love Stevie Next, I mean listen Landslide, but that

496
00:28:26,040 --> 00:28:29,080
Speaker 1: but that the Clinton campaign song from Fleetwood Man to Stop.

497
00:28:29,200 --> 00:28:32,520
Speaker 1: That was during the encore. We stood up and that

498
00:28:32,680 --> 00:28:34,920
Speaker 1: was the first time when I think that the first

499
00:28:35,080 --> 00:28:38,680
Speaker 1: few rose realized that she was there. So people started

500
00:28:38,840 --> 00:28:42,120
Speaker 1: clapping for her and channing Hillary Hillary when we were

501
00:28:42,160 --> 00:28:45,720
Speaker 1: walking down the stairs to uh to go backstage. So

502
00:28:46,000 --> 00:28:49,479
Speaker 1: it was really exciting. See folks, music brings people together

503
00:28:49,680 --> 00:28:52,880
Speaker 1: like silver springs, Silver Springs, that's a great jam. Okay,

504
00:28:53,040 --> 00:28:56,400
Speaker 1: great jam, all right, cool? Back to trade policy. Speaking

505
00:28:56,560 --> 00:28:58,560
Speaker 1: of all of this, can we just talk about Fleetwood

506
00:28:58,560 --> 00:29:00,080
Speaker 1: Mac the whole time? I mean I could, but my

507
00:29:00,240 --> 00:29:02,520
Speaker 1: boss is sitting literally right next to me, and I

508
00:29:02,600 --> 00:29:05,680
Speaker 1: don't think Christine Varado would like that. So back to

509
00:29:06,000 --> 00:29:11,000
Speaker 1: back to pivot, pivot, pivot um, back to trede policy.

510
00:29:11,000 --> 00:29:11,960
Speaker 1: But I want to I want to look at it

511
00:29:11,960 --> 00:29:15,240
Speaker 1: through the political lens because betto O Roork he is

512
00:29:15,400 --> 00:29:19,160
Speaker 1: running for president. He's a Democratic presidential candidate. He actually

513
00:29:19,280 --> 00:29:22,560
Speaker 1: discussed China on the campaign trail. Uh and and I

514
00:29:22,640 --> 00:29:24,520
Speaker 1: want to play for you what he had to say

515
00:29:25,000 --> 00:29:28,720
Speaker 1: about about him weighing in on President Trump's tariffs with

516
00:29:28,760 --> 00:29:31,360
Speaker 1: trying to hear he is, I do not support the

517
00:29:31,400 --> 00:29:36,400
Speaker 1: President's decision to enter this trade war to levy additional terrorists,

518
00:29:36,440 --> 00:29:40,000
Speaker 1: which will provoke reciprocal terrorists which are going to hammer

519
00:29:40,560 --> 00:29:44,960
Speaker 1: this economy. Why I find this interesting is because I

520
00:29:45,080 --> 00:29:47,280
Speaker 1: can't find a Republican up on Capitol Hill who likes

521
00:29:47,320 --> 00:29:49,720
Speaker 1: the President's tariffs. I mean, even if they're quietly saying,

522
00:29:49,760 --> 00:29:52,320
Speaker 1: all right, like what we'll be patient, they're hearing from

523
00:29:52,360 --> 00:29:55,160
Speaker 1: constituents from big business, small business. They don't like it.

524
00:29:55,680 --> 00:29:58,240
Speaker 1: It's fascinating to me, Adrian that Betto is able to

525
00:29:58,320 --> 00:30:01,760
Speaker 1: capitalize on this and say, listen, I was a Texas congressman.

526
00:30:01,800 --> 00:30:04,560
Speaker 1: I actually ran to the center of this issue and

527
00:30:04,680 --> 00:30:07,000
Speaker 1: ted Cruise in the Senate race that he lost but

528
00:30:07,240 --> 00:30:13,320
Speaker 1: still narrowly, still a loss, but that he was able

529
00:30:13,680 --> 00:30:15,840
Speaker 1: to really capitalize this. I actually think you're going to

530
00:30:15,960 --> 00:30:18,200
Speaker 1: hear this as a as a as a message from

531
00:30:18,240 --> 00:30:21,240
Speaker 1: top tier candidates. Oh absolutely. I mean, especially in states

532
00:30:21,320 --> 00:30:24,680
Speaker 1: like Iowa where a lot of farmers are already feeling

533
00:30:24,760 --> 00:30:27,720
Speaker 1: the impact of this trade war. Um, this is absolutely

534
00:30:27,720 --> 00:30:29,440
Speaker 1: going to be a talking point, and not just not

535
00:30:29,560 --> 00:30:31,520
Speaker 1: just a talking point, This is going to be a

536
00:30:31,920 --> 00:30:34,240
Speaker 1: huge discussion that a lot of candidates on the Democratic

537
00:30:34,280 --> 00:30:36,680
Speaker 1: side are going to bring up. We also know that

538
00:30:37,280 --> 00:30:40,640
Speaker 1: many of those impact and not just farmers, but many

539
00:30:41,000 --> 00:30:44,000
Speaker 1: individuals and other industries in some of the most important

540
00:30:44,080 --> 00:30:48,480
Speaker 1: swing states are also being adversely affected by this trade war.

541
00:30:49,000 --> 00:30:51,440
Speaker 1: So I think you're gonna see it play out a

542
00:30:51,560 --> 00:30:55,040
Speaker 1: lot more than maybe people initially realize on the campaign trail.

543
00:30:55,440 --> 00:30:58,040
Speaker 1: And I think that if this escalates this rate trade

544
00:30:58,080 --> 00:31:02,480
Speaker 1: war escalation continues, that it could be um what ultimately

545
00:31:02,600 --> 00:31:06,120
Speaker 1: defeats Donald Trump in the ballot box. So I were

546
00:31:06,440 --> 00:31:08,480
Speaker 1: we would agree is that I think the economy needs

547
00:31:08,520 --> 00:31:11,160
Speaker 1: to stay strong for President Trump to get reelected. And

548
00:31:11,280 --> 00:31:13,239
Speaker 1: you look at the most recent numbers that have come out,

549
00:31:13,280 --> 00:31:16,840
Speaker 1: we have three point two GDP growth, Unemployment is at

550
00:31:16,880 --> 00:31:19,840
Speaker 1: a fifty year low of three point six percent. These

551
00:31:19,840 --> 00:31:21,960
Speaker 1: are some great numbers. And this I mean the stock

552
00:31:22,040 --> 00:31:24,760
Speaker 1: market is up fully a third since President Trump came

553
00:31:24,760 --> 00:31:27,400
Speaker 1: into office. So even with all this going on, the

554
00:31:27,640 --> 00:31:30,680
Speaker 1: economy is doing great. And who's benefiting the most from it.

555
00:31:30,720 --> 00:31:35,600
Speaker 1: We're seeing African Americans, Hispanics, women growth, But tariffs, I mean,

556
00:31:35,680 --> 00:31:37,760
Speaker 1: look back to put it on tariffs. So on the

557
00:31:37,840 --> 00:31:40,520
Speaker 1: tariff issue, I believe that the administration will have another

558
00:31:40,680 --> 00:31:44,080
Speaker 1: round of farmer assistance that comes out or they come

559
00:31:44,120 --> 00:31:45,680
Speaker 1: in to help them. I think this is going to

560
00:31:45,720 --> 00:31:47,280
Speaker 1: be critical. One of the things keep in mind with

561
00:31:47,600 --> 00:31:49,920
Speaker 1: farmers right now in the Midwest, it's not just tariffs.

562
00:31:49,920 --> 00:31:51,600
Speaker 1: Are a number of different variables that go into this.

563
00:31:51,680 --> 00:31:53,560
Speaker 1: So we talked about the flooding of the Mississippi River,

564
00:31:54,080 --> 00:31:57,280
Speaker 1: the heavy rains they've had, They've delayed planting of crops,

565
00:31:58,000 --> 00:31:59,640
Speaker 1: so their whole host of things that go into this,

566
00:31:59,760 --> 00:32:01,440
Speaker 1: not just the terriff issue, but going back to this

567
00:32:01,520 --> 00:32:04,920
Speaker 1: central point. If we do nothing on the China front,

568
00:32:05,400 --> 00:32:10,120
Speaker 1: are AI robotics, all of these pharmaceuticals, all these industries

569
00:32:10,160 --> 00:32:12,520
Speaker 1: of the future, we will not be global players in

570
00:32:12,560 --> 00:32:14,960
Speaker 1: twenty years. But ce Jason and you know this, I

571
00:32:15,000 --> 00:32:20,520
Speaker 1: mean truthfully. I mean I've interviewed Republican after Republican after Republican,

572
00:32:21,000 --> 00:32:25,040
Speaker 1: and they're all like, please, no tariffs. Here's Congressman Will Heard,

573
00:32:25,040 --> 00:32:28,320
Speaker 1: a Republican from from better O Vortzneck in the Woods, Texas.

574
00:32:28,720 --> 00:32:31,840
Speaker 1: Listen to what Congressman Will Heard had to say in Washington,

575
00:32:31,920 --> 00:32:34,640
Speaker 1: d C. Earlier. He's a Republican from Texas. Here he is.

576
00:32:35,520 --> 00:32:39,600
Speaker 1: China is an authoritarian government, which means, guess what, they

577
00:32:39,680 --> 00:32:43,120
Speaker 1: don't care about pain impacted. You know that of their

578
00:32:43,280 --> 00:32:45,240
Speaker 1: electorate right away, they don't have an elector of their

579
00:32:45,320 --> 00:32:47,880
Speaker 1: their citizens, and so they are going to be able

580
00:32:47,920 --> 00:32:52,320
Speaker 1: to withstand pain longer than the US economy. And so

581
00:32:52,880 --> 00:32:54,560
Speaker 1: you don't want to get into this tip for tat

582
00:32:54,800 --> 00:32:58,040
Speaker 1: with an authoritarian government. So there we have it. I

583
00:32:58,120 --> 00:32:59,360
Speaker 1: think I think at the end of the day that

584
00:32:59,520 --> 00:33:02,400
Speaker 1: the risk, the political risk for Democrats would be if

585
00:33:02,440 --> 00:33:04,840
Speaker 1: they end up making a deal and then the tariffs

586
00:33:04,880 --> 00:33:07,080
Speaker 1: go away. But you think you can even on the

587
00:33:07,120 --> 00:33:09,920
Speaker 1: trade front, and you made this point smartly, very earlier.

588
00:33:10,840 --> 00:33:14,280
Speaker 1: You actually have Republicans and Democrats who are actually to

589
00:33:14,400 --> 00:33:16,600
Speaker 1: the right of President Trump on this trade issue. Me

590
00:33:16,720 --> 00:33:19,080
Speaker 1: Chuck Schumer's out there saying don't give into China, Marco

591
00:33:19,200 --> 00:33:22,600
Speaker 1: Rubio saying don't give into China. And so I think

592
00:33:22,640 --> 00:33:24,560
Speaker 1: it's gonna be very tough for a lot of these

593
00:33:24,640 --> 00:33:27,600
Speaker 1: Democrats on the campaign trail. I can snake one quick

594
00:33:27,640 --> 00:33:30,400
Speaker 1: point on something that Jason said earlier. Yes, of course

595
00:33:30,560 --> 00:33:32,640
Speaker 1: we have got to take a tough stand with China

596
00:33:33,120 --> 00:33:36,360
Speaker 1: because we are dealing with currency issues or dealing with

597
00:33:36,440 --> 00:33:39,960
Speaker 1: intellectual property threat theft. This has been an ongoing issue.

598
00:33:40,200 --> 00:33:42,880
Speaker 1: But Democrats are saying, we will not do this on

599
00:33:42,920 --> 00:33:44,680
Speaker 1: the backs of our farmers. We will not do this

600
00:33:44,800 --> 00:33:47,320
Speaker 1: on the backs of American workers. And that is what

601
00:33:47,400 --> 00:33:50,280
Speaker 1: I think Trump is not taking into consideration. Right now.

602
00:33:50,600 --> 00:33:52,600
Speaker 1: I leave it there. I'm so sorry, we gotta leave

603
00:33:52,640 --> 00:33:55,120
Speaker 1: it there. Last word. Adrian L. Rod fresh off of

604
00:33:55,160 --> 00:33:58,320
Speaker 1: the surfer trail right sur till thank you guys so

605
00:33:58,440 --> 00:34:00,800
Speaker 1: much for hanging out with me today. Adrian Rod Jason Miller,

606
00:34:00,840 --> 00:34:02,880
Speaker 1: two friends of my Two friends of the program very

607
00:34:02,960 --> 00:34:06,160
Speaker 1: much appreciate the time. I'm Kevin Cirelli, Chief Washington correspondent

608
00:34:06,200 --> 00:34:09,120
Speaker 1: for Bloomberg Television and Bloomberg Radio. It's Mother's Day this weekend,

609
00:34:09,360 --> 00:34:12,680
Speaker 1: do not forget on Sunday. You can download the sound

610
00:34:12,800 --> 00:34:16,080
Speaker 1: on podcast on Apple iTunes, at Bloomberg dot com, or

611
00:34:16,160 --> 00:34:18,719
Speaker 1: by downloading the Bloomberg Business app. You can also find

612
00:34:18,800 --> 00:34:21,440
Speaker 1: us on Radio dot com, I Heart Radio, and Spotify.

613
00:34:22,160 --> 00:34:24,400
Speaker 1: I will say a fun fact about Fleetwood Mac that

614
00:34:24,520 --> 00:34:27,839
Speaker 1: I had the solo and Don't Stop when I went

615
00:34:27,920 --> 00:34:31,000
Speaker 1: at high school graduation my senior year. Thanks for listening

616
00:34:31,320 --> 00:34:31,920
Speaker 1: to Bloomberg