1 00:00:00,640 --> 00:00:03,480 Speaker 1: Why from our nations this budget thing is going to 2 00:00:03,560 --> 00:00:06,280 Speaker 1: do nothing Space Force. I still think it's interesting President 3 00:00:06,320 --> 00:00:09,799 Speaker 1: Trump not playing his cards yet. Headlines Polly and Politics 4 00:00:09,840 --> 00:00:15,080 Speaker 1: colliding to Floomberg sound on, the Insiders, the influencers, the insides. 5 00:00:15,200 --> 00:00:17,439 Speaker 1: I would rather see a congressional solution. It's part of 6 00:00:17,480 --> 00:00:20,640 Speaker 1: my DNA. The Senate map in looks a lot different 7 00:00:20,640 --> 00:00:23,440 Speaker 1: than it looked in. You really have a divide within 8 00:00:23,640 --> 00:00:26,200 Speaker 1: Team Trump. The President has to do exactly what people 9 00:00:26,239 --> 00:00:27,960 Speaker 1: send him here to do, which is to get it done. 10 00:00:28,320 --> 00:00:32,920 Speaker 1: This is Bloomberg Sound On with Kevin Shirl on Bloomberg 11 00:00:33,760 --> 00:00:37,559 Speaker 1: one and one oh five point h d two. President 12 00:00:37,560 --> 00:00:41,080 Speaker 1: Trump's got beef, but not the way you think. You 13 00:00:41,200 --> 00:00:45,800 Speaker 1: just announced a trade extension, trade deal, trade opening with 14 00:00:45,880 --> 00:00:49,880 Speaker 1: the European Union. Good news for farmers at least heading 15 00:00:49,880 --> 00:00:52,239 Speaker 1: to Europe. But what about what's going on with the 16 00:00:52,320 --> 00:00:56,160 Speaker 1: US China trade talks? President Trump threatening more tariffs against 17 00:00:56,200 --> 00:01:00,680 Speaker 1: the Chinese. I've got your complete trade look forecast. Job's day, 18 00:01:01,120 --> 00:01:04,639 Speaker 1: Job's day, A hundred and sixties six thousand jobs added 19 00:01:04,680 --> 00:01:07,280 Speaker 1: to the U s economy last month. Will dive into 20 00:01:07,319 --> 00:01:12,319 Speaker 1: the policy and the politics on that front as well. Meanwhile, 21 00:01:12,800 --> 00:01:16,399 Speaker 1: latest news out of the Department for the Director for 22 00:01:16,480 --> 00:01:20,240 Speaker 1: National Intelligence. Ratcliff is out. Rat Cliff is out. President 23 00:01:20,280 --> 00:01:24,840 Speaker 1: Trump's tweeting out that he wants Ratcliff to stay in Congress. 24 00:01:25,000 --> 00:01:28,039 Speaker 1: We've got an all star panel to help navigate through 25 00:01:28,200 --> 00:01:30,240 Speaker 1: all of this. What is shaped up to be a 26 00:01:30,280 --> 00:01:34,280 Speaker 1: really busy day Friday, t G. I f here in Washington, 27 00:01:34,400 --> 00:01:37,880 Speaker 1: d C. Mark Ross is back. He's founder of Cical Global, 28 00:01:37,959 --> 00:01:42,040 Speaker 1: a global communications firm. Matt Brooks returns. He's a Republican 29 00:01:42,080 --> 00:01:46,600 Speaker 1: strategist and the executive director of the Republican Jewish Coalition, 30 00:01:46,920 --> 00:01:49,640 Speaker 1: as well as a Philadelphia Eagles fan, which is always 31 00:01:49,640 --> 00:01:53,360 Speaker 1: good to have around. Sorry, before we get to all 32 00:01:53,440 --> 00:01:55,160 Speaker 1: of that, you know, you can't. You can take the 33 00:01:55,240 --> 00:01:56,920 Speaker 1: kid out of they'll go, but you can't take out 34 00:01:56,920 --> 00:01:59,000 Speaker 1: of the kid. Before we get to all of that, 35 00:02:00,120 --> 00:02:02,840 Speaker 1: I was by all of the trade news coming out 36 00:02:02,880 --> 00:02:06,000 Speaker 1: of the White House throughout the day. And let's just 37 00:02:06,080 --> 00:02:10,160 Speaker 1: set the stage. We begin today with President Trump suggesting 38 00:02:10,400 --> 00:02:13,840 Speaker 1: threatening that he is going to tack on like three 39 00:02:13,960 --> 00:02:18,200 Speaker 1: hundred million dollars worth of additional tariffs on the Chinese. 40 00:02:18,440 --> 00:02:22,160 Speaker 1: This following the meetings earlier this week of US Treasury 41 00:02:22,200 --> 00:02:26,440 Speaker 1: Secretary Stephen Manution and US Trade Representative Bob Leightheiser returning 42 00:02:26,480 --> 00:02:31,840 Speaker 1: from Shanghai and the President suggesting that, well, those talks 43 00:02:31,880 --> 00:02:34,680 Speaker 1: are not going the way that he had hoped. It 44 00:02:34,760 --> 00:02:38,600 Speaker 1: comes following him saying that he's not real anticipating a 45 00:02:38,720 --> 00:02:44,160 Speaker 1: US China trade deal potentially until after the presidential election. 46 00:02:44,680 --> 00:02:48,400 Speaker 1: So that's on the China front. Then with this announcement, 47 00:02:48,400 --> 00:02:51,000 Speaker 1: I'm at the White House like shortly after two pm, 48 00:02:51,040 --> 00:02:53,079 Speaker 1: and I'm staying outside at the White House. I'm like, oh, 49 00:02:53,200 --> 00:02:56,080 Speaker 1: Slow Friday, Nope, not in this White House. And the 50 00:02:56,120 --> 00:02:59,320 Speaker 1: President says that he has gotten some type of mini 51 00:02:59,440 --> 00:03:03,919 Speaker 1: deal agreement arrangement with the European Union, that this is 52 00:03:03,960 --> 00:03:07,359 Speaker 1: good news for beef exporters that he's allowed, which is 53 00:03:07,400 --> 00:03:11,000 Speaker 1: good news for agriculture. They've allowed there to be a 54 00:03:11,120 --> 00:03:16,600 Speaker 1: new market of sorts for the beef exporting market. Mark 55 00:03:16,680 --> 00:03:18,880 Speaker 1: Ross put all of this into perspective for US and 56 00:03:19,000 --> 00:03:22,359 Speaker 1: what it all means as we head into August. What 57 00:03:22,360 --> 00:03:26,079 Speaker 1: it means is really lack of certainty. I would say, 58 00:03:26,160 --> 00:03:30,240 Speaker 1: I think the biggest challenge is Trump. There's a lot 59 00:03:30,240 --> 00:03:32,600 Speaker 1: of frustration, Like he used a lot of words. They 60 00:03:32,800 --> 00:03:35,640 Speaker 1: kept saying the word not like the Chinese are not buying, 61 00:03:36,120 --> 00:03:38,840 Speaker 1: they're not stopping, not moving fast enough. So there's a 62 00:03:38,840 --> 00:03:42,560 Speaker 1: lot of frustration there and the there's just a general 63 00:03:42,760 --> 00:03:45,320 Speaker 1: uncertainty of where we're going with it. There's certainly an 64 00:03:45,320 --> 00:03:48,640 Speaker 1: agreement here in Washington, d C. That there should be 65 00:03:48,680 --> 00:03:51,560 Speaker 1: pushed back on the Chinese government that something has to 66 00:03:51,600 --> 00:03:53,600 Speaker 1: be done. They need to reform their economy. The question 67 00:03:53,640 --> 00:03:55,800 Speaker 1: is that the tactics, but the finish up the day. 68 00:03:55,840 --> 00:03:57,840 Speaker 1: I think the European Union actually did a pretty smart 69 00:03:57,840 --> 00:04:01,960 Speaker 1: thing um the trade deal allowing more exports of US beef. 70 00:04:02,760 --> 00:04:05,720 Speaker 1: Very positive elpment. Not really a huge number, around a 71 00:04:05,760 --> 00:04:08,200 Speaker 1: few hundred million dollars. In fact, I think Real Madrid 72 00:04:08,480 --> 00:04:11,080 Speaker 1: has a bigger payroll than the number. But it's a 73 00:04:11,120 --> 00:04:14,840 Speaker 1: positive step forward and it's something that the you know, 74 00:04:14,880 --> 00:04:16,680 Speaker 1: the president can hang us hat on, but trade is 75 00:04:16,720 --> 00:04:21,520 Speaker 1: certainly going to be front and center until mat Brooks. 76 00:04:21,520 --> 00:04:23,360 Speaker 1: I look at it this way because like, I mean, 77 00:04:23,360 --> 00:04:25,960 Speaker 1: you know this Republican strategists, I mean, the farmers are 78 00:04:26,000 --> 00:04:28,320 Speaker 1: they're uneasy. They're not they're not leaving him in droves 79 00:04:28,320 --> 00:04:30,760 Speaker 1: and support. But if you're a farmer and you're you're 80 00:04:30,839 --> 00:04:33,560 Speaker 1: really impacted by the price of soybeans and how sorgham 81 00:04:33,680 --> 00:04:35,719 Speaker 1: is trading, and you look at the headlines on the 82 00:04:35,800 --> 00:04:39,080 Speaker 1: US China trade front that things aren't that things are there, 83 00:04:39,120 --> 00:04:42,560 Speaker 1: that there's uncertainty there, and then you end the Friday 84 00:04:42,600 --> 00:04:45,720 Speaker 1: with okay, well, you know, I mean the President is 85 00:04:46,600 --> 00:04:49,680 Speaker 1: surrounded by beef industry representatives at the White House and 86 00:04:49,680 --> 00:04:52,080 Speaker 1: they're saying, hey, you know, you've got some you've got 87 00:04:52,120 --> 00:04:54,080 Speaker 1: some good news Head of Europe. Yeah, there were a 88 00:04:54,120 --> 00:04:57,880 Speaker 1: lot of ten gallon hats walking around the White House today. 89 00:04:59,520 --> 00:05:03,359 Speaker 1: The picture, Um, no, Look, the reality is is I 90 00:05:03,400 --> 00:05:05,599 Speaker 1: think you know, looking through look at this through the 91 00:05:05,600 --> 00:05:09,159 Speaker 1: political prism, and you're exactly right. There is angst among 92 00:05:09,200 --> 00:05:11,839 Speaker 1: the farmers, not just because of the trade stuff. Obviously 93 00:05:11,960 --> 00:05:15,000 Speaker 1: many of them have been weather impacted over the course 94 00:05:15,080 --> 00:05:17,720 Speaker 1: of the past year. But I think at the end 95 00:05:17,720 --> 00:05:19,560 Speaker 1: of the day, the reason that they're staying with the 96 00:05:19,600 --> 00:05:24,400 Speaker 1: president and they understand that there's some short term uh worry, 97 00:05:25,080 --> 00:05:27,600 Speaker 1: is because they believe in the overall strategy. If you 98 00:05:27,640 --> 00:05:30,040 Speaker 1: talk to the dairy farmers, for instance in Wisconsin, who 99 00:05:30,080 --> 00:05:33,200 Speaker 1: feel that they've been getting a raw deal, uh, you know, 100 00:05:33,240 --> 00:05:36,599 Speaker 1: in terms of dairy price supports and and interference by 101 00:05:36,600 --> 00:05:39,280 Speaker 1: the Canadian government. You know, they like the fact that 102 00:05:39,320 --> 00:05:43,479 Speaker 1: that President Trump is speaking up and standing out, speaking up, uh, 103 00:05:43,600 --> 00:05:46,280 Speaker 1: standing up and speaking out on an issue they care 104 00:05:46,360 --> 00:05:48,200 Speaker 1: very deeply about. And they want someone who's gonna be 105 00:05:48,200 --> 00:05:51,720 Speaker 1: a fighter for for uh, their concerns. So I think 106 00:05:51,720 --> 00:05:55,200 Speaker 1: that this ultimately, um, I think you know, they will 107 00:05:55,240 --> 00:05:57,320 Speaker 1: obviously applaud what happened today, but it's part of a 108 00:05:57,360 --> 00:05:59,360 Speaker 1: bigger strategy that I think we'll start to see a 109 00:05:59,400 --> 00:06:01,320 Speaker 1: lot more divid It ends when some of these other 110 00:06:01,360 --> 00:06:04,520 Speaker 1: things play themselves out. Take a listen to what President 111 00:06:04,560 --> 00:06:06,680 Speaker 1: Trump had to say earlier today at the White House 112 00:06:06,720 --> 00:06:10,720 Speaker 1: about the new EU deal being good for European eaters. 113 00:06:11,000 --> 00:06:15,960 Speaker 1: Take a listen. This is a tremendous victory for American farmers, ranchers, 114 00:06:16,000 --> 00:06:20,640 Speaker 1: and of course European consumers because American beef is considered 115 00:06:20,680 --> 00:06:24,400 Speaker 1: the best in the world. So, in layman's terms, like 116 00:06:24,480 --> 00:06:27,919 Speaker 1: and really simplify this, keep it very very simple. What 117 00:06:28,160 --> 00:06:32,640 Speaker 1: precisely does it mean when President Trump says that this 118 00:06:32,800 --> 00:06:36,719 Speaker 1: that he's established a duty free tariff right quota for 119 00:06:36,800 --> 00:06:40,800 Speaker 1: the United States in European markets. Mark Ross translate that 120 00:06:40,839 --> 00:06:44,400 Speaker 1: for me Uh, simplify. Basically, there are quotas. European Union 121 00:06:44,400 --> 00:06:47,239 Speaker 1: says we can only importantly goods because they also have farmers. 122 00:06:47,240 --> 00:06:51,040 Speaker 1: They also have folks that supply meat and poultry products. 123 00:06:51,279 --> 00:06:54,240 Speaker 1: So essentially we have carved out we the United States government, 124 00:06:54,240 --> 00:06:57,479 Speaker 1: have carved out a bigger portion of that quota, and 125 00:06:57,520 --> 00:06:59,760 Speaker 1: over the next few years that number one increase. I 126 00:06:59,760 --> 00:07:02,120 Speaker 1: think the first numbers a hundred fifty million. It's gonna 127 00:07:02,120 --> 00:07:04,680 Speaker 1: astually up to five million over the next two or 128 00:07:04,680 --> 00:07:06,479 Speaker 1: three years. So it's a positive step forward. So it 129 00:07:06,480 --> 00:07:09,600 Speaker 1: means they can get more more US burgers. Absolutely. I 130 00:07:09,640 --> 00:07:12,600 Speaker 1: even bought some American beef today. It's absolutely fantastic. But 131 00:07:12,880 --> 00:07:15,520 Speaker 1: this is a positivelopment in the sense that, um, the 132 00:07:15,560 --> 00:07:17,800 Speaker 1: European Union is singling, let's find a way to work 133 00:07:17,840 --> 00:07:20,800 Speaker 1: together right costly. There was that off color joke I 134 00:07:20,880 --> 00:07:24,400 Speaker 1: love the show. Did you see this? Literally so so so, 135 00:07:24,480 --> 00:07:26,440 Speaker 1: Like he's walking out and you're like, oh wow, like 136 00:07:26,520 --> 00:07:29,120 Speaker 1: President sending the Friday He's got like his you know, 137 00:07:29,120 --> 00:07:32,440 Speaker 1: he's got to deal with the beef and good you know, ranchers, 138 00:07:32,720 --> 00:07:35,080 Speaker 1: and then he get like the next breath, he's like, 139 00:07:35,360 --> 00:07:37,600 Speaker 1: I could have I could have I could have added 140 00:07:37,600 --> 00:07:41,760 Speaker 1: like a fifty percent tariff on like autos. I could 141 00:07:41,760 --> 00:07:43,920 Speaker 1: have added an auto tariff on Mercedes Benz and like 142 00:07:43,960 --> 00:07:47,280 Speaker 1: everyone was like what like because you just don't know, 143 00:07:47,320 --> 00:07:49,440 Speaker 1: but it was there. There's what's that quote. There's there's 144 00:07:49,440 --> 00:07:52,360 Speaker 1: truth and humor, Matt Brooks, there's truth and humor. And 145 00:07:52,400 --> 00:07:56,360 Speaker 1: he's essentially saying, look, look a you. I mean, I'm 146 00:07:56,400 --> 00:07:59,400 Speaker 1: signaling we can get this back on track here. But 147 00:07:59,480 --> 00:08:01,920 Speaker 1: look what I did with the Chinese. Yeah, I mean, 148 00:08:01,920 --> 00:08:03,520 Speaker 1: there's no question about that. I think he is. He 149 00:08:03,600 --> 00:08:06,120 Speaker 1: is clearly trying to send a message. I wish as 150 00:08:06,120 --> 00:08:09,160 Speaker 1: part of the the UH statement today he would have 151 00:08:09,160 --> 00:08:11,160 Speaker 1: said that he was gonna put a percent tariff on 152 00:08:11,560 --> 00:08:16,760 Speaker 1: impossible burger because I think that actually reflects a greater 153 00:08:16,800 --> 00:08:20,000 Speaker 1: threat to Western civilization than UH and all this su 154 00:08:20,080 --> 00:08:22,800 Speaker 1: I am pro beef and UH. But I do think 155 00:08:22,840 --> 00:08:24,360 Speaker 1: this is a good day for the president. I think 156 00:08:24,360 --> 00:08:26,160 Speaker 1: it's a good day for the cattle industry. You know, 157 00:08:26,560 --> 00:08:29,280 Speaker 1: he It's gonna be interesting to see how this plays. 158 00:08:29,320 --> 00:08:31,280 Speaker 1: So you know, if you're grilling this weekend, just think 159 00:08:31,320 --> 00:08:34,600 Speaker 1: you're burger could now end up in Europe coming up panel, 160 00:08:34,720 --> 00:08:38,199 Speaker 1: stays Mark Ross, founder of Charicle Global, Matt Brooks, Republican 161 00:08:38,200 --> 00:08:42,360 Speaker 1: Strategists and executive director of the Republican Jewish Coalition. You 162 00:08:42,400 --> 00:08:45,920 Speaker 1: can download the Bloomberg Sound On podcast on Apple iTunes, 163 00:08:46,160 --> 00:08:49,760 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business App. 164 00:08:49,840 --> 00:08:52,040 Speaker 1: You can also find us on Radio dot com, I 165 00:08:52,120 --> 00:08:55,920 Speaker 1: Heart Radio and Spotify. I'm Kevin CERELLI Chief Washington correspondent 166 00:08:55,960 --> 00:08:58,920 Speaker 1: for Bloomberg Television and Bloomberg Radio. And you're listening to 167 00:08:58,960 --> 00:09:08,720 Speaker 1: Bloomberg ninety nine one. You're listening to Bloomberg Sound On 168 00:09:08,880 --> 00:09:12,920 Speaker 1: with Kevin Surley on Bloomberg and one oh five point 169 00:09:12,960 --> 00:09:17,199 Speaker 1: seven F M H D two. These are indeed patriots. 170 00:09:17,200 --> 00:09:20,520 Speaker 1: They're always targeted first by other countries to try and 171 00:09:20,559 --> 00:09:22,920 Speaker 1: take advantage of the United States that the first to 172 00:09:22,960 --> 00:09:27,040 Speaker 1: be targeted. But we, uh, we take that target off 173 00:09:27,040 --> 00:09:31,000 Speaker 1: their back. That was President Trump speaking earlier today at 174 00:09:31,040 --> 00:09:35,240 Speaker 1: the White House about farmers. That comes following his remarks 175 00:09:35,480 --> 00:09:39,640 Speaker 1: last evening in Cincinnati, Ohio, at campaign re election rally. 176 00:09:40,040 --> 00:09:43,560 Speaker 1: The President sang and referring to Shi jing Ping, the 177 00:09:43,600 --> 00:09:47,240 Speaker 1: president of China, as a close and personal friend. But uh, 178 00:09:47,640 --> 00:09:51,560 Speaker 1: he threatened three hundred million dollars worth of additional tariffs 179 00:09:51,600 --> 00:09:55,400 Speaker 1: today against the Chinese and China saying that they're going 180 00:09:55,440 --> 00:09:59,920 Speaker 1: to have to respond. I'm Kevin Cirelli, Chief Washington correspondent, 181 00:10:00,000 --> 00:10:03,240 Speaker 1: Bloomberg Television and Bloomberg Radio. I am joined by Mark Ross, 182 00:10:03,280 --> 00:10:06,760 Speaker 1: founder of Terrical Global, and Matt Brooks, a Republican strategist 183 00:10:06,800 --> 00:10:11,760 Speaker 1: and executive director of the Republican Jewish Coalition. Earlier today, gentlemen, uh, 184 00:10:11,920 --> 00:10:15,559 Speaker 1: my colleague Jonathan Farrow interviewed Larry Cudlow on Bloomberg Television. 185 00:10:15,600 --> 00:10:17,840 Speaker 1: You gotta go to go log onto the terminal or 186 00:10:17,960 --> 00:10:19,720 Speaker 1: or go to Bloomberg tv dot com and watch this 187 00:10:19,760 --> 00:10:23,600 Speaker 1: interview because it was really fascinating to get the administration's 188 00:10:23,640 --> 00:10:28,439 Speaker 1: perspective about why they are threatening tariffs against China. Take 189 00:10:28,480 --> 00:10:32,600 Speaker 1: a listen to what Larry Cudlow said with China tariffs 190 00:10:32,640 --> 00:10:36,240 Speaker 1: and why there's more curious. He indicated in good faith 191 00:10:36,400 --> 00:10:40,480 Speaker 1: the very respectful note to President She that we hope 192 00:10:40,520 --> 00:10:43,280 Speaker 1: to continue the talks in September. We hope their team 193 00:10:43,320 --> 00:10:47,319 Speaker 1: comes here. Um, but in terms of the progress of 194 00:10:47,360 --> 00:10:51,959 Speaker 1: the deal, presidents not satisfied. So I was just in Detroit, 195 00:10:52,000 --> 00:10:57,920 Speaker 1: your your hometown, Mark from I gotta say by the way, beautiful, 196 00:10:57,960 --> 00:11:01,080 Speaker 1: beautiful city, exceptional city of Detroit. I didn't know they 197 00:11:01,080 --> 00:11:05,240 Speaker 1: were a pizza town. But I'm like so. I was 198 00:11:05,280 --> 00:11:08,760 Speaker 1: struck by this though, because on that debate stage both nights, Uh, 199 00:11:08,800 --> 00:11:11,960 Speaker 1: there was a lot of criticism about how the president 200 00:11:12,040 --> 00:11:16,760 Speaker 1: is negotiating with China, and there's debate, just like there 201 00:11:16,800 --> 00:11:19,800 Speaker 1: is within the Republican Party about usage of tariffs, and 202 00:11:19,800 --> 00:11:21,720 Speaker 1: there is an open debate and we cover it virtually 203 00:11:21,760 --> 00:11:24,280 Speaker 1: every day here. There's also a debate about tariffs in 204 00:11:24,280 --> 00:11:27,559 Speaker 1: the Democratic Party when betto O Rourke, the former congressman 205 00:11:27,600 --> 00:11:30,520 Speaker 1: from Texas, is saying that he doesn't like tariffs, but 206 00:11:30,600 --> 00:11:34,000 Speaker 1: Senators Warren and Sanders are suggesting that tariffs are a 207 00:11:34,000 --> 00:11:37,520 Speaker 1: tool that they would use. It's that streak of populism 208 00:11:37,559 --> 00:11:42,320 Speaker 1: that exists on both and both political parties. Um, But 209 00:11:42,480 --> 00:11:46,200 Speaker 1: from the administration standpoint worth regards to tariffs, they're trying 210 00:11:46,240 --> 00:11:50,440 Speaker 1: to say that's not attacks on Americans but attacks on 211 00:11:50,480 --> 00:11:52,720 Speaker 1: the Chinese. Mark Ross, I want to play for you 212 00:11:52,760 --> 00:11:55,240 Speaker 1: what Larry Cudlow told Jonathan Farrell on that point, and 213 00:11:55,240 --> 00:11:57,280 Speaker 1: I want to get your reaction. Take a listen to 214 00:11:57,280 --> 00:12:00,280 Speaker 1: what Larry kept Cudlow said on Bloomberg Television today about 215 00:12:00,320 --> 00:12:03,439 Speaker 1: China bearing the blunt of tariffs. Here, here is the 216 00:12:03,559 --> 00:12:08,559 Speaker 1: economic burdens have fallen most heavily on China. They've had 217 00:12:08,600 --> 00:12:13,080 Speaker 1: to slash prices to try to compete. That has done 218 00:12:13,160 --> 00:12:17,080 Speaker 1: damage to their profits in their companies, and their economy 219 00:12:17,280 --> 00:12:22,040 Speaker 1: is in a very big slowing mode. So listen that. 220 00:12:22,200 --> 00:12:24,720 Speaker 1: It was interesting. I saw the interview and the white 221 00:12:24,760 --> 00:12:26,920 Speaker 1: and Larry Carlo, who I'm a huge fan of, you know, 222 00:12:27,040 --> 00:12:30,280 Speaker 1: going back many many decades, was hesitant to actually put 223 00:12:30,320 --> 00:12:31,840 Speaker 1: a number on it. And I saw some numbers today. 224 00:12:31,840 --> 00:12:34,280 Speaker 1: Maybe it's gonna be a few hundred bucks a household, right, 225 00:12:34,360 --> 00:12:36,720 Speaker 1: these new tariffs. Was it just about these new tronch 226 00:12:36,760 --> 00:12:39,240 Speaker 1: of terrorists? Is that are actually gonna impact consumer goods? 227 00:12:39,280 --> 00:12:44,240 Speaker 1: We're talking clothing, back to school items, toys exactly. And 228 00:12:44,679 --> 00:12:47,440 Speaker 1: my wife this morning, after she greeted me and said hello, 229 00:12:47,760 --> 00:12:50,240 Speaker 1: the second thing she said to me, she's like, it's 230 00:12:50,240 --> 00:12:53,680 Speaker 1: about time. Maybe should buy my new iPad. Right, And 231 00:12:53,720 --> 00:12:57,000 Speaker 1: here's someone who watches more Bravo than Bloomberg, but she is. 232 00:12:57,040 --> 00:13:02,120 Speaker 1: Now I'm tough to figure out. But what that to 233 00:13:02,160 --> 00:13:04,480 Speaker 1: me was striking because it's a it's a bigger macro 234 00:13:04,640 --> 00:13:08,440 Speaker 1: issue that maybe these items are getting more expensive. We're 235 00:13:08,480 --> 00:13:11,400 Speaker 1: clearly importing a lot of goods from China and it's 236 00:13:11,400 --> 00:13:13,800 Speaker 1: just another increase. And whether or not it's a huge 237 00:13:13,880 --> 00:13:17,760 Speaker 1: number per household collectively is attacks on the US and 238 00:13:17,800 --> 00:13:20,319 Speaker 1: it also creates uncertainty about where I'm gonna put my 239 00:13:20,360 --> 00:13:22,120 Speaker 1: funds to buy these I mean, if you're a business 240 00:13:22,320 --> 00:13:24,840 Speaker 1: Matt Brooks, and you're trying to forecast the fourth quarter, right, 241 00:13:24,840 --> 00:13:26,440 Speaker 1: I mean, I'll make a joke about toys. But I 242 00:13:26,440 --> 00:13:28,600 Speaker 1: mean I think it was Mattel today. It was you know, 243 00:13:28,960 --> 00:13:32,760 Speaker 1: down a little bit because there are commodities, medals and 244 00:13:32,800 --> 00:13:35,559 Speaker 1: plastics and whatnot, and they're wrapped up in the toy debate. 245 00:13:36,040 --> 00:13:38,440 Speaker 1: But I mean, they're all gonna get shipped. All these 246 00:13:38,440 --> 00:13:41,200 Speaker 1: toys are about to get shipped in September for the 247 00:13:41,240 --> 00:13:45,720 Speaker 1: fourth quarter for the holidays, and that's where things get interesting. 248 00:13:45,760 --> 00:13:48,280 Speaker 1: And I p also wrapped into that. I mean, because 249 00:13:48,360 --> 00:13:50,640 Speaker 1: kids these days, you ever see their toys, They're like, 250 00:13:50,840 --> 00:13:53,920 Speaker 1: they've got like drones, They've got like robots. I'm like, 251 00:13:54,000 --> 00:13:56,120 Speaker 1: I had a soccer ball, like what I sound like 252 00:13:56,120 --> 00:14:02,040 Speaker 1: an old man. But but on but on the issue 253 00:14:02,120 --> 00:14:04,600 Speaker 1: of of of all of this in terms of how 254 00:14:04,640 --> 00:14:06,480 Speaker 1: this is trying to price. There's just been a flood 255 00:14:06,480 --> 00:14:08,760 Speaker 1: of economic news for the consumer to figure out. Do 256 00:14:08,840 --> 00:14:11,520 Speaker 1: you think, Matt Brooks, that the American consumer in the heartland, 257 00:14:11,559 --> 00:14:14,760 Speaker 1: for example, is viewing tariffs as attacks. I think they 258 00:14:15,160 --> 00:14:18,040 Speaker 1: they view it as a additional cost that at the 259 00:14:18,160 --> 00:14:20,360 Speaker 1: end of the day, you know, one of the things 260 00:14:20,360 --> 00:14:23,680 Speaker 1: that the land people have have benefited from. They've benefited 261 00:14:23,720 --> 00:14:28,200 Speaker 1: from the President's middle class tax cuts, which put a 262 00:14:28,200 --> 00:14:30,880 Speaker 1: lot of capital back into people's pockets and and back 263 00:14:30,920 --> 00:14:33,520 Speaker 1: into the economy. We just saw a rate cut by 264 00:14:33,560 --> 00:14:35,880 Speaker 1: the Fed today which is gonna which is gonna obviously 265 00:14:35,920 --> 00:14:38,680 Speaker 1: have an impact with consumers across the board. So I 266 00:14:38,720 --> 00:14:41,520 Speaker 1: think some of this effect has been has been mitigated 267 00:14:41,640 --> 00:14:44,600 Speaker 1: and and at some point one of the two sides 268 00:14:44,680 --> 00:14:47,840 Speaker 1: is gonna blink um. And you know, it's a game 269 00:14:47,880 --> 00:14:51,160 Speaker 1: of chicken right now. The President is absolutely right for 270 00:14:51,200 --> 00:14:53,400 Speaker 1: doing what he's doing, you know, sort of reminded this 271 00:14:53,480 --> 00:14:55,520 Speaker 1: all the people go back. You know, there's been countless 272 00:14:56,200 --> 00:14:58,920 Speaker 1: times where the White House or you know, stories have 273 00:14:59,000 --> 00:15:00,480 Speaker 1: come out from the White House and else where they 274 00:15:00,480 --> 00:15:02,120 Speaker 1: were very very close to yield that they think the 275 00:15:02,520 --> 00:15:05,120 Speaker 1: deals here and it's like it's like Lucy and football, 276 00:15:05,200 --> 00:15:08,000 Speaker 1: you know, and then the Chinese just decide, Nope, it's 277 00:15:08,040 --> 00:15:09,680 Speaker 1: not and then we're back to square one. And I 278 00:15:09,680 --> 00:15:12,280 Speaker 1: think the President's had enough of those shenanigans, and I 279 00:15:12,280 --> 00:15:15,760 Speaker 1: think he's he's prepared to, you know, to turn the 280 00:15:15,840 --> 00:15:18,400 Speaker 1: valve as as tight as he as he can. You know, 281 00:15:18,440 --> 00:15:20,920 Speaker 1: you mentioned the Echo data. We did get some today's 282 00:15:21,000 --> 00:15:23,400 Speaker 1: job today, a hundred and sixty four thousand jobs. And 283 00:15:23,400 --> 00:15:25,240 Speaker 1: I want to correct myself. I said one sixty six 284 00:15:25,320 --> 00:15:27,320 Speaker 1: at the start of the show. A hundred and sixty 285 00:15:27,360 --> 00:15:30,680 Speaker 1: four thousand jobs added to the U. S. Economy. Uh, 286 00:15:30,720 --> 00:15:33,560 Speaker 1: and uh, that that was you know, I mean mark 287 00:15:33,600 --> 00:15:36,840 Speaker 1: cross solid number. We're at a fifty year low unemployments 288 00:15:37,120 --> 00:15:40,280 Speaker 1: UM now all very solid. I think in the short term, Yeah, 289 00:15:40,480 --> 00:15:42,440 Speaker 1: very good stuff and maybe we can weather this. But 290 00:15:42,840 --> 00:15:45,720 Speaker 1: Trump wanted to if you had complete confidence in his 291 00:15:45,840 --> 00:15:48,560 Speaker 1: rationale for institution instituting tariffs, he would have done it today. 292 00:15:48,760 --> 00:15:50,840 Speaker 1: He's done himself thirty days, right, he said this is 293 00:15:50,840 --> 00:15:54,240 Speaker 1: gonna happens September one. Even today, Larry Caudlow said, listen, 294 00:15:54,360 --> 00:15:57,160 Speaker 1: let's do some dollar diplomacy. If China does buy goods 295 00:15:57,600 --> 00:16:00,680 Speaker 1: from the Midwest, some soybeans. We don't have to instute 296 00:16:00,680 --> 00:16:03,920 Speaker 1: these new tariffs. So, uh, the game has definitely been 297 00:16:03,960 --> 00:16:07,200 Speaker 1: there's definitely a game of chicken being played. Um, is 298 00:16:07,240 --> 00:16:10,080 Speaker 1: this the right tactic? You know? Why why not flip 299 00:16:10,080 --> 00:16:13,080 Speaker 1: it the other way and be positive moving forward? What's 300 00:16:13,120 --> 00:16:15,920 Speaker 1: this gonna do for new Apple stores in China, new 301 00:16:15,920 --> 00:16:19,640 Speaker 1: city bake branches whom they're at, hotels, new casinos being 302 00:16:19,640 --> 00:16:22,280 Speaker 1: going in China, Like, let's look at the bigger picture. 303 00:16:22,320 --> 00:16:25,080 Speaker 1: This kind of short term politics is working on the 304 00:16:25,080 --> 00:16:27,800 Speaker 1: campaign trail, but I'm not sure it's serving the nation 305 00:16:28,080 --> 00:16:31,160 Speaker 1: long term. I mean, A hundred sixty four thousand jobs 306 00:16:31,200 --> 00:16:33,400 Speaker 1: at it in July. This according to the Department of 307 00:16:33,480 --> 00:16:37,120 Speaker 1: Labor UH that that releasing their numbers for for July. 308 00:16:37,280 --> 00:16:41,280 Speaker 1: This is still a record hiring streak. Uh. And and 309 00:16:41,360 --> 00:16:44,960 Speaker 1: the unemployment remains largely unchanged. I mean, it's still at 310 00:16:44,960 --> 00:16:48,720 Speaker 1: about three point seven percent, so, I mean, and and 311 00:16:48,720 --> 00:16:51,320 Speaker 1: there was some positive wage growth in numbers in their 312 00:16:51,360 --> 00:16:53,920 Speaker 1: hourly wage growth in there as well. So I mean, 313 00:16:54,040 --> 00:16:57,400 Speaker 1: you know, it's just the bevy of economic indicators every 314 00:16:57,440 --> 00:16:59,360 Speaker 1: single day. It's like it's like I'm a weather man 315 00:16:59,480 --> 00:17:02,520 Speaker 1: sometimes You're looking at all these different regions and you're like, 316 00:17:02,680 --> 00:17:05,760 Speaker 1: it's hot here, it's cold here, China bad, Europe good, 317 00:17:06,240 --> 00:17:08,879 Speaker 1: but job numbers holding steady. I mean, it really is fascinating. 318 00:17:08,920 --> 00:17:10,679 Speaker 1: And for the and the FED, don't forget about the 319 00:17:10,680 --> 00:17:14,360 Speaker 1: feb And so I think for the average American consumer 320 00:17:15,000 --> 00:17:17,879 Speaker 1: in towns like Delco where I grew up, or in 321 00:17:17,960 --> 00:17:20,720 Speaker 1: Detroit where you grew up, Mark or Philly where you 322 00:17:20,720 --> 00:17:22,800 Speaker 1: grew up, um At, I mean, it's a lot sword 323 00:17:22,800 --> 00:17:25,280 Speaker 1: through um and in the month of August, I mean 324 00:17:25,280 --> 00:17:27,040 Speaker 1: it's a lot for them to to get through. And 325 00:17:27,080 --> 00:17:31,359 Speaker 1: oh yeah, if that weren't enough, throwing Democratic presidential candidates, 326 00:17:31,400 --> 00:17:33,560 Speaker 1: which is where we're gonna talk about coming up next, 327 00:17:33,880 --> 00:17:36,240 Speaker 1: Matt Brooks Days, Mark Ross Days. You can download the 328 00:17:36,240 --> 00:17:39,600 Speaker 1: Bloomberg Sound on podcast on Apple iTunes, at Bloomberg dot com, 329 00:17:39,720 --> 00:17:42,080 Speaker 1: or by downloading the Bloomberg Business app. You can also 330 00:17:42,119 --> 00:17:45,119 Speaker 1: find us on Radio dot com, I Heart Radio, and Spotify. 331 00:17:45,160 --> 00:17:48,080 Speaker 1: It's all of our previous episodes and special interviews. That 332 00:17:48,160 --> 00:17:51,080 Speaker 1: interview with Lara Trump's on there, as well as all 333 00:17:51,119 --> 00:17:53,840 Speaker 1: of our reporting from the Spin Room earlier. Uh this 334 00:17:53,880 --> 00:17:57,359 Speaker 1: week in Detroit, I'm Kevin surreally Chief Washington correspondent from 335 00:17:57,320 --> 00:18:00,080 Speaker 1: Bloomberg TV and Radio, and you're listening to Bloomberg D 336 00:18:00,200 --> 00:18:06,960 Speaker 1: nine one. This is Bloomberg's sound on with Kevin Shirley 337 00:18:07,080 --> 00:18:10,720 Speaker 1: on Bloomberg and one oh five point seven F M 338 00:18:10,840 --> 00:18:14,680 Speaker 1: H D two T G I F. Folks, we made 339 00:18:14,680 --> 00:18:18,359 Speaker 1: it to Friday, a beautiful Friday here in Washington, d C. 340 00:18:18,560 --> 00:18:22,320 Speaker 1: I'm Kevin CEREALI Chief Washington correspondent for Bloomberg Television and 341 00:18:22,359 --> 00:18:25,040 Speaker 1: Bloomberg Radio. My guest with me for the hour. Two 342 00:18:25,080 --> 00:18:28,440 Speaker 1: friends of the program, Mark Ross, founder of Kritical Global, 343 00:18:28,680 --> 00:18:31,159 Speaker 1: and Matt Brooks, a Republican strategist. He is also the 344 00:18:31,200 --> 00:18:34,400 Speaker 1: executive director of the Republican Jewish Coalition. We were talking 345 00:18:34,400 --> 00:18:37,200 Speaker 1: about getting the games for the for the NFL season, 346 00:18:37,200 --> 00:18:39,200 Speaker 1: which you're going to like, you might as well take 347 00:18:39,280 --> 00:18:41,399 Speaker 1: Roger Goodell's job, and that might be a reality. If 348 00:18:41,440 --> 00:18:44,320 Speaker 1: this lawsuit gost to hell and a ham basket for 349 00:18:44,400 --> 00:18:49,280 Speaker 1: Roger Goodell take it. Sign me up. That's that would 350 00:18:49,280 --> 00:18:51,439 Speaker 1: be like a you know the thing I I was 351 00:18:51,600 --> 00:18:53,479 Speaker 1: we were talking for. I used to work for UH 352 00:18:54,160 --> 00:18:56,639 Speaker 1: for Jack Kemp, and Jack Kemp always talked about that 353 00:18:56,720 --> 00:18:59,280 Speaker 1: was that was his dream job to be commissioner in 354 00:18:59,320 --> 00:19:02,600 Speaker 1: the NFL off funny, like politicians dream jobs before they 355 00:19:02,680 --> 00:19:06,080 Speaker 1: end up. I we interviewed Terry mcculloffe Bloomberg TV earlier 356 00:19:06,119 --> 00:19:08,199 Speaker 1: today and I was like, so you gonna run for president? 357 00:19:08,200 --> 00:19:12,840 Speaker 1: He's like, well, I'd like to be pope, and You're like, alright, gove, Um. 358 00:19:13,320 --> 00:19:16,520 Speaker 1: You can find that interview on Bloomberg TV dot com. 359 00:19:16,520 --> 00:19:18,720 Speaker 1: He's got a book out about Charlotte's Field's worth of 360 00:19:18,760 --> 00:19:21,320 Speaker 1: read if you're headed down to the shore, the beach, 361 00:19:21,359 --> 00:19:23,040 Speaker 1: I guess if I'm in d C. But the shore 362 00:19:23,240 --> 00:19:26,160 Speaker 1: where I grew up. Uh? This weekend? All right, did 363 00:19:26,160 --> 00:19:28,399 Speaker 1: you guys see this? I spent half the week in 364 00:19:28,440 --> 00:19:31,400 Speaker 1: Detroit covering the debates. I'm still dizzy from the spin room. 365 00:19:32,200 --> 00:19:35,359 Speaker 1: But President Trump waiting on the debates. Take a listen 366 00:19:35,400 --> 00:19:37,520 Speaker 1: to what President Trump had to say. He thought he 367 00:19:37,560 --> 00:19:40,159 Speaker 1: was gonna get attacked. President Trump was looking out for 368 00:19:40,200 --> 00:19:43,960 Speaker 1: Obama sort of. Take a listen. The Democrats spent more 369 00:19:44,080 --> 00:19:50,120 Speaker 1: time attacking Barack Obama then they did attacking me. Practically. 370 00:19:51,359 --> 00:19:54,320 Speaker 1: That was President Trump speaking last evening in Cincinnati at 371 00:19:54,359 --> 00:19:58,440 Speaker 1: a campaign re election rally. Is it smart politics, Matt 372 00:19:58,600 --> 00:20:02,320 Speaker 1: for the acrats to go after Obama. No, I think 373 00:20:02,359 --> 00:20:04,800 Speaker 1: it's I think it's you know, I think it's it's 374 00:20:04,840 --> 00:20:07,840 Speaker 1: bad politics because it sends a message, uh, to the 375 00:20:07,880 --> 00:20:11,640 Speaker 1: American people that Barack Obama is too conservative for even 376 00:20:11,640 --> 00:20:16,320 Speaker 1: the Democratic Party today. Um. And what they're what they're conflating, 377 00:20:17,000 --> 00:20:20,320 Speaker 1: is that they're using Joe Biden, or they viewed Joe 378 00:20:20,320 --> 00:20:23,320 Speaker 1: Biden as a proxy for Joe Biden. So by attacking 379 00:20:23,359 --> 00:20:26,080 Speaker 1: by by attacking Obama, they feel that they're scoring points 380 00:20:26,119 --> 00:20:28,440 Speaker 1: against Biden. You saw that with the the Corey book 381 00:20:28,520 --> 00:20:32,000 Speaker 1: or exchange and the Doblasio exchange, and and they think 382 00:20:32,000 --> 00:20:34,800 Speaker 1: that they can, you know, hold him accountable for every position. Now, 383 00:20:35,040 --> 00:20:37,680 Speaker 1: Joe Biden misplayed his hand. There was a perfect comeback 384 00:20:37,760 --> 00:20:39,679 Speaker 1: line that he could have said at the time, you know, 385 00:20:39,720 --> 00:20:41,359 Speaker 1: when they were saying, did you you know in the 386 00:20:41,480 --> 00:20:46,160 Speaker 1: on the issue of uh uh deportations, and they kept saying, 387 00:20:46,280 --> 00:20:48,320 Speaker 1: you know, did you support the president that you advise 388 00:20:48,359 --> 00:20:50,199 Speaker 1: and what you're doing, he should have just said, you know, 389 00:20:50,240 --> 00:20:52,639 Speaker 1: I had Barack Obama's back then and I have his 390 00:20:52,720 --> 00:20:56,399 Speaker 1: back now, and uh, you know the fact is you 391 00:20:56,440 --> 00:20:59,520 Speaker 1: should as well, because we're all here because of Obama 392 00:20:59,520 --> 00:21:04,560 Speaker 1: in some way and so or just say like, I mean, 393 00:21:04,160 --> 00:21:10,080 Speaker 1: I'm a reporter, saw, but I was I was surprised. Uh, 394 00:21:10,119 --> 00:21:12,440 Speaker 1: I was surprised by a lot of that debate. Go ahead, 395 00:21:12,480 --> 00:21:15,640 Speaker 1: Mark coming here. I mean, do you think I'm martually surprised. 396 00:21:15,680 --> 00:21:17,880 Speaker 1: I mean, here's a guy who won the office twice, 397 00:21:18,440 --> 00:21:21,280 Speaker 1: Cluly knows how to win an election. Um. Yeah, I 398 00:21:21,520 --> 00:21:24,479 Speaker 1: don't really know. There's the idea that Biden is running 399 00:21:24,680 --> 00:21:27,359 Speaker 1: on his resume as vice president, but clearly here you 400 00:21:27,400 --> 00:21:29,760 Speaker 1: know Biden has run two or three times before. Um, 401 00:21:29,800 --> 00:21:32,240 Speaker 1: I don't know. I think it's very interesting. I'm speechless. 402 00:21:32,400 --> 00:21:34,440 Speaker 1: I didn't. I didn't think Biden had his worse of 403 00:21:34,480 --> 00:21:37,000 Speaker 1: a second debate than the first one. I really didn't. 404 00:21:37,000 --> 00:21:40,479 Speaker 1: I mean, and I say this because he was actually reserved. 405 00:21:40,520 --> 00:21:43,399 Speaker 1: I mean, he could have unleashed on the Blasio, and 406 00:21:43,440 --> 00:21:45,840 Speaker 1: he did not. Obviously he doesn't view the Blasio as 407 00:21:45,840 --> 00:21:49,560 Speaker 1: a significant threat. He could have unleashed on a on 408 00:21:49,560 --> 00:21:52,199 Speaker 1: on even to some extent, Senator Jilli Brand, and he 409 00:21:52,240 --> 00:21:54,800 Speaker 1: did not. I think that her attack on him fell 410 00:21:54,840 --> 00:21:59,480 Speaker 1: flat this time. Um. And I think, from from Biden's perspective, 411 00:21:59,560 --> 00:22:02,880 Speaker 1: like they're twenty five candidates who are all taking shots 412 00:22:02,880 --> 00:22:05,000 Speaker 1: at him because he because he is the front runner. 413 00:22:05,320 --> 00:22:08,920 Speaker 1: So Matt, I mean, he's in a in a unique 414 00:22:08,920 --> 00:22:12,399 Speaker 1: position because not even all the candidates who are taking 415 00:22:12,480 --> 00:22:14,879 Speaker 1: shots out of her on the stage of him, you know, 416 00:22:15,000 --> 00:22:17,239 Speaker 1: it's that's looking. And the two people you mentioned may 417 00:22:17,320 --> 00:22:19,000 Speaker 1: very well not even be in the next debate, They 418 00:22:19,040 --> 00:22:22,919 Speaker 1: may not even be in the race, uh beyond beyond 419 00:22:22,920 --> 00:22:25,600 Speaker 1: this summer. So uh, you know, you gotta pick your 420 00:22:25,640 --> 00:22:28,919 Speaker 1: your battles, you know, uh carefully. You don't want to 421 00:22:28,960 --> 00:22:31,720 Speaker 1: punch below your weight. Uh. And and I think that, 422 00:22:31,800 --> 00:22:34,280 Speaker 1: you know, the exchange that he had with with Kamala Harris, 423 00:22:34,320 --> 00:22:36,680 Speaker 1: the exchange he had with Booker were meaningful and important 424 00:22:36,720 --> 00:22:41,040 Speaker 1: for establishing his lane uh and also pushing back. I 425 00:22:41,040 --> 00:22:44,960 Speaker 1: think Kamala Harris uh had a disappointing evening. I think 426 00:22:45,000 --> 00:22:48,200 Speaker 1: that she did not help herself. Uh. It'll be very 427 00:22:48,280 --> 00:22:51,960 Speaker 1: interesting to see the dynamic and hopefully the you know, 428 00:22:52,000 --> 00:22:55,640 Speaker 1: hopefully the Democrats will get down to one debate next time. Uh. 429 00:22:55,680 --> 00:22:57,760 Speaker 1: And it will be great to see a debate that 430 00:22:57,800 --> 00:23:02,199 Speaker 1: has Elizabeth Warren, Bernie Kamala Harris, Joe Biden and you know, 431 00:23:02,280 --> 00:23:04,880 Speaker 1: really get the heavyweights in the ring. Mary and Williams 432 00:23:04,840 --> 00:23:09,560 Speaker 1: did Marion Williamson. I think what's been interesting about Biden 433 00:23:09,640 --> 00:23:12,119 Speaker 1: overall is why he hasn't done a better job at 434 00:23:12,160 --> 00:23:14,960 Speaker 1: clearing the field, Like why he hasn't eliminated these people. 435 00:23:14,960 --> 00:23:18,320 Speaker 1: I mean, in some ways, he hasn't said, hey, I've 436 00:23:18,400 --> 00:23:22,040 Speaker 1: been there, I know this job, I'm the most qualified, etcetera. 437 00:23:22,240 --> 00:23:24,159 Speaker 1: And he really hasn't. I don't. I don't know if 438 00:23:24,200 --> 00:23:26,479 Speaker 1: playing nice to your point is the right tactic. I've 439 00:23:26,520 --> 00:23:29,399 Speaker 1: been really let's wear a five month slog right to 440 00:23:29,640 --> 00:23:33,600 Speaker 1: the Iowa caucuses. The Biden campaign today released a very 441 00:23:33,600 --> 00:23:37,520 Speaker 1: aggressive schedule for September Um. You know, here's the guy 442 00:23:37,520 --> 00:23:39,160 Speaker 1: who's a bit older. You would just think they would 443 00:23:39,160 --> 00:23:42,919 Speaker 1: find a way to eliminate the incoming fire in the 444 00:23:42,960 --> 00:23:45,600 Speaker 1: primary process, out the field. I was gonna say, but 445 00:23:45,600 --> 00:23:47,280 Speaker 1: I think part of the challenge if you're if you're 446 00:23:47,280 --> 00:23:49,440 Speaker 1: sitting in Biden headquarters and trying to come up with 447 00:23:49,480 --> 00:23:53,960 Speaker 1: a strategy is that in a traditional campaign, you're exactly correct, Mark, 448 00:23:54,160 --> 00:23:56,560 Speaker 1: But I don't think that you know, the Democratic primary 449 00:23:56,600 --> 00:23:58,840 Speaker 1: voters want to hear I'm the gray haired guy, I've 450 00:23:58,840 --> 00:24:00,920 Speaker 1: been around, I'm the guy who can win. They want 451 00:24:00,960 --> 00:24:03,880 Speaker 1: the red meat, they want the more progressive, left wing, 452 00:24:04,440 --> 00:24:06,800 Speaker 1: you know, you know, just fire us up and and 453 00:24:06,840 --> 00:24:10,040 Speaker 1: what the Democrats have done to their detriment is they 454 00:24:10,080 --> 00:24:13,000 Speaker 1: have created um, you know, if this if this election 455 00:24:13,080 --> 00:24:15,520 Speaker 1: was was happening in I think Biden would be in 456 00:24:15,520 --> 00:24:18,960 Speaker 1: a lot stronger position. Beach to the Democrats had superdelegates 457 00:24:18,960 --> 00:24:21,800 Speaker 1: back then. They don't have that check and balance on 458 00:24:21,840 --> 00:24:24,719 Speaker 1: the party that they did before the sort of safety breaks. 459 00:24:25,320 --> 00:24:27,879 Speaker 1: And they've also moved, you know, they've they've totally frontloaded 460 00:24:27,920 --> 00:24:30,840 Speaker 1: the primary schedule so that there is no chance for 461 00:24:31,040 --> 00:24:34,560 Speaker 1: building firewalls. And if you're Joe Biden, I just think 462 00:24:34,600 --> 00:24:39,280 Speaker 1: you see a pathway that's very difficult given how progressive 463 00:24:39,440 --> 00:24:42,880 Speaker 1: and how angry and how far left the Democratic primary 464 00:24:42,960 --> 00:24:45,360 Speaker 1: elector it is right now. Now. There even some stories 465 00:24:45,400 --> 00:24:47,600 Speaker 1: about that the d n C to your point, about 466 00:24:47,600 --> 00:24:49,080 Speaker 1: the people that run the party like they've been a 467 00:24:49,080 --> 00:24:52,000 Speaker 1: little surprised about how how heavy and how much angst 468 00:24:52,000 --> 00:24:54,480 Speaker 1: there's been. Really there is. Corey Booker had a few, 469 00:24:54,800 --> 00:24:56,919 Speaker 1: you know, happy warrior type of moments when he was 470 00:24:56,960 --> 00:25:00,080 Speaker 1: on stage, but overall it has been a bit of 471 00:25:00,080 --> 00:25:03,760 Speaker 1: a dour, raging season and attacking President Obama, you know, 472 00:25:03,800 --> 00:25:06,240 Speaker 1: attacking America generally. I mean, there's a lot of good, 473 00:25:06,240 --> 00:25:09,119 Speaker 1: positive things going on. Um, it's been surprising that we 474 00:25:09,160 --> 00:25:12,840 Speaker 1: haven't heard more about the big macro issues of where 475 00:25:12,880 --> 00:25:15,280 Speaker 1: these people want to take them. I mean, and listen, 476 00:25:15,320 --> 00:25:17,240 Speaker 1: I mean, whether or not you agree or disagree with 477 00:25:17,320 --> 00:25:21,760 Speaker 1: Senators Elizabeth Morren and Bernie Sanders. What I got from 478 00:25:21,840 --> 00:25:24,479 Speaker 1: you know here on that flight back from Detroit to Reagan, 479 00:25:25,200 --> 00:25:29,200 Speaker 1: what I was thinking about was day their ideology has 480 00:25:29,280 --> 00:25:32,760 Speaker 1: become the Trump in the room last time, last cycle, 481 00:25:32,800 --> 00:25:37,080 Speaker 1: and that crowded Republican field President Trump was who everyone 482 00:25:37,160 --> 00:25:42,119 Speaker 1: else reacted to. Joe Biden had to mention Senator Sanders 483 00:25:42,200 --> 00:25:46,040 Speaker 1: by name during during the second night, and Medicare for 484 00:25:46,080 --> 00:25:49,120 Speaker 1: All is the debate of the party. Medicare for all 485 00:25:49,160 --> 00:25:53,399 Speaker 1: has become the debate for the entire Democratic ideology. But 486 00:25:53,600 --> 00:25:55,560 Speaker 1: I was just, really, I can't get the sound of 487 00:25:55,600 --> 00:25:59,120 Speaker 1: my head. Senator Kamala Harris's plan is not Medicare for all. 488 00:25:59,400 --> 00:26:02,199 Speaker 1: And you know what, to Matt's point when she's on 489 00:26:02,200 --> 00:26:04,639 Speaker 1: a stage with Sanders and Warren, that they're gonna be like, 490 00:26:04,680 --> 00:26:08,680 Speaker 1: that's not Medicare for all, and it's it's just very 491 00:26:08,720 --> 00:26:11,560 Speaker 1: interesting and how Biden reacts to at and the tests 492 00:26:11,560 --> 00:26:13,200 Speaker 1: for Biden You're going to be what are what are 493 00:26:13,359 --> 00:26:16,920 Speaker 1: his ideas? Like quit talking about Obamacare? What's biding care? 494 00:26:17,160 --> 00:26:19,720 Speaker 1: And that's going to be the test as a communication 495 00:26:19,800 --> 00:26:24,000 Speaker 1: is professional. I've been really surprised about how much analysis 496 00:26:24,000 --> 00:26:25,840 Speaker 1: these other folks have done with each other's plans, Like 497 00:26:26,040 --> 00:26:27,880 Speaker 1: they were all like, your plan does this? Your plan 498 00:26:27,960 --> 00:26:30,359 Speaker 1: does this? My plan does this? Instead of saying macro 499 00:26:30,520 --> 00:26:33,479 Speaker 1: like where we're gonna take the country, Um do do? 500 00:26:33,560 --> 00:26:35,720 Speaker 1: People I don't know? Trump said no, I mean, I'll 501 00:26:35,760 --> 00:26:37,720 Speaker 1: never forget that because I was one of those reporters 502 00:26:37,760 --> 00:26:39,720 Speaker 1: who was like, what is your position on the export 503 00:26:39,760 --> 00:26:42,600 Speaker 1: and poor bank reauthorization? And he never forget that one round. 504 00:26:42,640 --> 00:26:45,199 Speaker 1: He's like, they keep asking me about policy plans. No 505 00:26:45,280 --> 00:26:47,880 Speaker 1: one cares about policy plans. I mean I I think 506 00:26:47,880 --> 00:26:49,359 Speaker 1: you can have it a little bit both ways in 507 00:26:49,440 --> 00:26:53,240 Speaker 1: terms of caring about policy, personality, and politics, all three 508 00:26:53,359 --> 00:26:56,320 Speaker 1: pis we will continue to talk about coming up. Download 509 00:26:56,320 --> 00:26:59,120 Speaker 1: the Bloomberg Sound On podcast on Apple iTunes, at Bloomberg 510 00:26:59,200 --> 00:27:01,280 Speaker 1: dot com, or by downloading the Bloomberg Business app. You 511 00:27:01,320 --> 00:27:04,159 Speaker 1: can also find me on Radio dot com, I Heart Radio, 512 00:27:04,240 --> 00:27:08,480 Speaker 1: and Spotify. I'm Kevin Sirelli. Matt Brooks stays, Mark Ross stays, 513 00:27:08,760 --> 00:27:16,280 Speaker 1: you're listening to Bloomberg. You're listening to Bloomberg. Sound On 514 00:27:16,440 --> 00:27:20,480 Speaker 1: with Kevin Surley on Bloomberg and one on five point 515 00:27:20,520 --> 00:27:25,840 Speaker 1: seven FM, h D two. Bruce Springsteen. Gota love it Friday. 516 00:27:25,880 --> 00:27:28,639 Speaker 1: It's August. I should be headed down the Jersey shore, 517 00:27:28,800 --> 00:27:32,040 Speaker 1: but I'm not. I'm here. I'm Kevin Sirelli, Chief Washington 518 00:27:32,080 --> 00:27:35,600 Speaker 1: correspondent from Bloomberg Television of Bloomberg Radio. We're talking all 519 00:27:35,680 --> 00:27:39,720 Speaker 1: things politics, policy, and h personality. To be honest, you 520 00:27:39,800 --> 00:27:41,560 Speaker 1: gotta have a little bit of all three these days. 521 00:27:41,880 --> 00:27:44,159 Speaker 1: My guest with me for the hour, Mark Ross, founder 522 00:27:44,200 --> 00:27:47,720 Speaker 1: of Charicle Global. Matt Brooks, Republican strategist and executive director 523 00:27:47,760 --> 00:27:51,440 Speaker 1: of the Republican Jewish Coalition. Gentlemen, thanks for being here 524 00:27:51,480 --> 00:27:54,680 Speaker 1: on Friday. Uh, we're gonna this. We we do things 525 00:27:54,720 --> 00:27:56,840 Speaker 1: on Friday. Where I asked, like, what's on your radar? 526 00:27:56,880 --> 00:27:58,600 Speaker 1: I mean not much because, to be honest, the President 527 00:27:58,640 --> 00:28:01,199 Speaker 1: signed a two year dead agreement today, so that ceiling 528 00:28:01,280 --> 00:28:05,480 Speaker 1: is handled. Uh, it's August. No one's in town. It's 529 00:28:05,560 --> 00:28:10,200 Speaker 1: kind of slow. So what's on your radar? Mark cross Well, Brexit. 530 00:28:10,720 --> 00:28:16,200 Speaker 1: Why ninety days from October one? Um Boris Johnson ninety 531 00:28:16,280 --> 00:28:19,520 Speaker 1: days what's happening on Halloween? So October thirty one, Brexit. 532 00:28:19,560 --> 00:28:21,840 Speaker 1: The new prime the new Prime Minister of the UK, 533 00:28:21,960 --> 00:28:24,919 Speaker 1: Boris Johnson, has declared he will take the United Kingdom 534 00:28:24,960 --> 00:28:27,959 Speaker 1: out of the European Union even without a deal. So 535 00:28:28,000 --> 00:28:31,200 Speaker 1: that's the big cut off day, October one, Halloween. Also 536 00:28:32,200 --> 00:28:34,480 Speaker 1: here on this side, I'm very interested in the number 537 00:28:34,480 --> 00:28:36,920 Speaker 1: of Republicans that have resigned or quit in the last 538 00:28:36,920 --> 00:28:40,440 Speaker 1: two weeks. We're up to six representative heard today or 539 00:28:40,520 --> 00:28:43,640 Speaker 1: last night resigned. So clearly, to me, that's a sign 540 00:28:44,320 --> 00:28:47,040 Speaker 1: that the GOP members aren't confident that they're gonna take 541 00:28:47,080 --> 00:28:49,480 Speaker 1: about the House of Representatives, and what that does for 542 00:28:49,520 --> 00:28:53,080 Speaker 1: fundraising puts more and more attention on the presidential campaign. 543 00:28:53,840 --> 00:28:55,480 Speaker 1: I want to come back to Brexit, but let's because 544 00:28:55,480 --> 00:28:58,600 Speaker 1: we got we got a Republican fundraiser here in the studio. 545 00:28:58,800 --> 00:29:02,440 Speaker 1: So Matt Brooks is a Republican strategist, executive director of 546 00:29:02,440 --> 00:29:05,200 Speaker 1: the Republican Jewish Coalition. So your your thoughts on what's 547 00:29:05,240 --> 00:29:07,880 Speaker 1: going down in the Texas. Everyone's talking about this. By 548 00:29:07,920 --> 00:29:09,960 Speaker 1: the way, the Texas delegations. Maybe they're just sick of 549 00:29:10,000 --> 00:29:12,400 Speaker 1: bandon Congress. Go ahead, Well, we just we just picked 550 00:29:12,400 --> 00:29:17,640 Speaker 1: one back up with Radcliffe staying and uhliff is because 551 00:29:18,480 --> 00:29:21,400 Speaker 1: all the all the panic about the Texas delegation, we 552 00:29:21,520 --> 00:29:24,080 Speaker 1: just we just held onto one. But I think that uh, 553 00:29:24,160 --> 00:29:25,920 Speaker 1: you know, it's it's I think it's a big mistake 554 00:29:25,960 --> 00:29:28,680 Speaker 1: to read too much into this because on one hand, 555 00:29:28,720 --> 00:29:30,880 Speaker 1: people that are a number of the people that are 556 00:29:30,920 --> 00:29:34,800 Speaker 1: that are retiring are from really competitive districts that we 557 00:29:34,920 --> 00:29:38,000 Speaker 1: almost lost last time that we very well lose this time. 558 00:29:38,040 --> 00:29:40,880 Speaker 1: But one of the things that's encouraging to me is 559 00:29:40,880 --> 00:29:44,760 Speaker 1: the tremendous success we're having at candidate recruitment in a 560 00:29:44,920 --> 00:29:50,360 Speaker 1: number of races that uh Trump carried, uh you know, 561 00:29:51,240 --> 00:29:53,760 Speaker 1: Trump carried that switched from from Hillary. And I think 562 00:29:53,760 --> 00:29:56,640 Speaker 1: we have some some great opportunities to bake up some gains. 563 00:29:56,680 --> 00:29:58,600 Speaker 1: And the fact of the matter is that, going back 564 00:29:58,640 --> 00:30:01,560 Speaker 1: to what we said before, as the Democrats continue this, 565 00:30:02,080 --> 00:30:05,480 Speaker 1: the political center of gravity moving further and further left 566 00:30:05,880 --> 00:30:08,200 Speaker 1: in these you know, in a lot of these districts 567 00:30:08,240 --> 00:30:10,440 Speaker 1: in Middle America, it just makes it difficult for the 568 00:30:10,600 --> 00:30:13,880 Speaker 1: for the Democrats to hold on. Matt Brooks. You mentioned 569 00:30:14,040 --> 00:30:17,680 Speaker 1: John Ratcliffe, Congressman Ratcliffe, Texas Republican. He says he will 570 00:30:17,760 --> 00:30:22,240 Speaker 1: not be President Trump's next National intelligence director. That headline 571 00:30:22,240 --> 00:30:24,720 Speaker 1: came out today as well. Here's something that I shouldn't say, 572 00:30:24,760 --> 00:30:26,600 Speaker 1: but I'm gonna say it anyway because it is Friday. 573 00:30:26,680 --> 00:30:28,360 Speaker 1: So when I was doing my TV hit at the 574 00:30:28,360 --> 00:30:31,480 Speaker 1: White House on this, I I kept saying, I kept 575 00:30:31,480 --> 00:30:35,640 Speaker 1: thinking in my head THEO Ratcliffe and of Philadelphia seven 576 00:30:35,680 --> 00:30:37,560 Speaker 1: and I was like, don't say and I didn't say it. 577 00:30:37,560 --> 00:30:40,000 Speaker 1: But I just want to share because I'm honest that 578 00:30:40,120 --> 00:30:44,640 Speaker 1: I almost had a massive brain flub on air and 579 00:30:44,680 --> 00:30:47,400 Speaker 1: I didn't. There really should be more discussion about Philadelphia 580 00:30:48,920 --> 00:30:53,440 Speaker 1: doesn't have enough Philadelphia. Second, Um, you mentioned Bregg Sit. 581 00:30:53,440 --> 00:30:55,040 Speaker 1: I just want to quickly point out the President Trump 582 00:30:55,040 --> 00:30:57,200 Speaker 1: talked to Boris Johnson today as well. It's good. I'm 583 00:30:57,200 --> 00:31:00,800 Speaker 1: interested to see how Boris Johnson's relationship bis with President 584 00:31:00,800 --> 00:31:03,240 Speaker 1: Trump because the recent May and Trump they didn't really 585 00:31:03,240 --> 00:31:06,640 Speaker 1: get along. Matt Brooks, what's on your radar. I've been 586 00:31:06,680 --> 00:31:11,760 Speaker 1: following very closely, Um, the shift in the Democratic Party 587 00:31:11,800 --> 00:31:14,880 Speaker 1: as it relates to uh to Israel into the Jewish community, 588 00:31:14,920 --> 00:31:19,480 Speaker 1: and I think that uh. In the during this August recess. UH, 589 00:31:19,600 --> 00:31:22,080 Speaker 1: you have Rashida to leave and Elon Omar are going 590 00:31:22,160 --> 00:31:25,760 Speaker 1: to be participating on a trip that they're organizing uh 591 00:31:25,800 --> 00:31:30,680 Speaker 1: to UH to the Palestinian territories in Israel to raise 592 00:31:30,720 --> 00:31:33,880 Speaker 1: attention to this issue. UM. The fact of the matter 593 00:31:33,960 --> 00:31:37,440 Speaker 1: is Donald Trump has been the single most pro Israel 594 00:31:37,480 --> 00:31:41,920 Speaker 1: president ever in history. He has redefined the relationship. UH. 595 00:31:42,240 --> 00:31:45,360 Speaker 1: That is infuriating the Democrats. Every single one of the 596 00:31:45,400 --> 00:31:48,000 Speaker 1: Democrats who are running for president and UH, certainly the 597 00:31:48,040 --> 00:31:52,720 Speaker 1: squad and and others have been talking about the need 598 00:31:52,800 --> 00:31:56,920 Speaker 1: to to reset and reposition the US's relationship. UH. They 599 00:31:56,920 --> 00:32:01,480 Speaker 1: have trafficked in in an anti Semitic common and unfortunately 600 00:32:01,480 --> 00:32:03,600 Speaker 1: it's becoming more and more of the mainstream in the 601 00:32:03,640 --> 00:32:06,080 Speaker 1: Democratic Party. So it's something that I'm watching, especially with 602 00:32:06,120 --> 00:32:09,640 Speaker 1: this trip overseas Israel, how this continues to play, and 603 00:32:09,840 --> 00:32:13,240 Speaker 1: where the Jewish community ultimately responds in this. It has 604 00:32:13,280 --> 00:32:17,280 Speaker 1: been just a fiery month in American politics on the 605 00:32:17,360 --> 00:32:19,800 Speaker 1: rhetorical front. I'm gonna, I'm gonna, you wanna know what's 606 00:32:19,800 --> 00:32:22,520 Speaker 1: on my radar. I interviewed Mary Ann Williamson in the 607 00:32:22,560 --> 00:32:25,120 Speaker 1: Spin Room this week and listen, no one's taken her seriously. 608 00:32:25,320 --> 00:32:27,080 Speaker 1: But I will say this, this is what I what 609 00:32:27,200 --> 00:32:30,600 Speaker 1: I garnered from gathered from from this interview was she's 610 00:32:30,640 --> 00:32:32,400 Speaker 1: saying that she wants to have a Department of Peace, 611 00:32:32,440 --> 00:32:35,240 Speaker 1: and everyone's like, what is she crystals? She's holding on crystal, 612 00:32:35,320 --> 00:32:38,840 Speaker 1: is doing yoga? No, this is interesting, which actually espousing 613 00:32:39,040 --> 00:32:43,240 Speaker 1: is having soft power at the state's apartment in a 614 00:32:43,360 --> 00:32:45,680 Speaker 1: host of emerging markets and in a host of all 615 00:32:45,720 --> 00:32:48,960 Speaker 1: around the world. That is interesting because it's a contrast 616 00:32:49,000 --> 00:32:52,680 Speaker 1: with libertarians, candidates on the left and the right, people 617 00:32:52,760 --> 00:32:56,400 Speaker 1: like Congresswoman Tulca Gabbard, who are not espousing that. So 618 00:32:56,440 --> 00:33:01,560 Speaker 1: what she's advocating for is actually uh things like the 619 00:33:01,560 --> 00:33:04,680 Speaker 1: Peace Corps uh and going into countries and that you know, 620 00:33:04,760 --> 00:33:07,280 Speaker 1: I mean, Matt to put it in in conservative speak, 621 00:33:07,480 --> 00:33:11,080 Speaker 1: it would be compassionate conservatism worldwide. So I think that 622 00:33:11,120 --> 00:33:14,200 Speaker 1: Marian Williamson is going to be making a lot more 623 00:33:14,800 --> 00:33:17,600 Speaker 1: uh interesting points like that. And don't think that it's 624 00:33:17,600 --> 00:33:20,760 Speaker 1: impossible because remember it was Elizabeth Warren back when she 625 00:33:20,880 --> 00:33:24,280 Speaker 1: was a professor who created the Consumer Financial Protection Bureau. 626 00:33:24,400 --> 00:33:26,040 Speaker 1: I think that you could see a department because I 627 00:33:26,040 --> 00:33:28,480 Speaker 1: think that her ideas of what she's calling for are 628 00:33:28,560 --> 00:33:33,360 Speaker 1: actually she's espousing them in a way that resonates with 629 00:33:33,440 --> 00:33:37,240 Speaker 1: a different kind of electorate, but they still are tactical ideas. 630 00:33:37,280 --> 00:33:40,360 Speaker 1: That's what's on my radar. Mark Cross, founder of Charical Global, 631 00:33:40,400 --> 00:33:43,240 Speaker 1: Thanks for being here. Matt Brooks, Republican strategist, Executive director 632 00:33:43,240 --> 00:33:46,240 Speaker 1: of the Republican Jewish Coalition, Thank you also for being here. 633 00:33:46,280 --> 00:33:48,240 Speaker 1: That does it for me. What a busy week. Thanks 634 00:33:48,240 --> 00:33:51,280 Speaker 1: for riding along and listening to us. I'm Kevin Cirelli, 635 00:33:51,360 --> 00:33:54,760 Speaker 1: Chief Washington correspondent for Bloomberg Television and Bloomberg Radio, and 636 00:33:54,800 --> 00:33:56,160 Speaker 1: you're listening to Bloomberg