WEBVTT - Treasury Alleges Hack from China; Mike Johnson Speakership Uncertain

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Good morning. I'm Amy

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<v Speaker 1>Morris and I'm Karen Moscow. Here are the stories we're

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<v Speaker 1>following today.

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<v Speaker 2>Karen, We begin in Washington with a major story out

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<v Speaker 2>of the US Treasury. The Treasury Department says it was

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<v Speaker 2>hacked earlier this month by Chinese based cyber attackers. In

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<v Speaker 2>a letter to Congress, Treasury says the major cybersecurity incident

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<v Speaker 2>led to unauthorized accessing of workstations and unclassified documents. Bloomberg's

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<v Speaker 2>John Harney says the news is likely to further complicate

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<v Speaker 2>relations between Washington and Beijing.

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<v Speaker 3>US China relationship whi's cover a vast bass scope for

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<v Speaker 3>issues and agendas, etc. Has been improving somewhat, but this,

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<v Speaker 3>as a trumpet administration is about to take office, suggests

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<v Speaker 3>that much much remains to be resolved.

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<v Speaker 2>Bloomberg editor John Harney says the hackers gained access via

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<v Speaker 2>a third party software provider, Beyond Trust, which has contracts

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<v Speaker 2>with the Defense and Justice Departments. In a statement, the

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<v Speaker 2>Chinese Embassy in Washington called the claims smear attacks against

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<v Speaker 2>China without any factual basis.

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<v Speaker 1>Well Lamy over on Capitol Hill, the House votes Friday

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<v Speaker 1>on the speaker of the next US Congress, but Mike

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<v Speaker 1>Johnson's reelection bid remains uncertain. Yesterday, President elect Donald Trump

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<v Speaker 1>through his support behind the Republican congressman, but with a

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<v Speaker 1>thin GOP majority and Democrats expected to vote for Hakim

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<v Speaker 1>Jeffreys along party lines, Johnson can only afford to lose

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<v Speaker 1>one GOP vote, and yesterday, Arizona Representative Andy Biggs told

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<v Speaker 1>Fox News he has not publicly or privately committed to

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<v Speaker 1>voting for Johnson, and GOP representatives Andy Harris of Maryland

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<v Speaker 1>and Thomas Massey at Kentucky also signaled they might not

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<v Speaker 1>beck Johnson. Bloomberg's Joe matthew says a fight over the

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<v Speaker 1>speakership will make it harder for a president elect Trump

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<v Speaker 1>to govern on the mandate that got him re elected.

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<v Speaker 4>When it comes to the legislature, this is an incredibly

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<v Speaker 4>eight majority for Republicans in the House, and it could

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<v Speaker 4>get tighter. Donald Trump has actually tapped three members to

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<v Speaker 4>join his administration. If they all join, Mike Johnson has

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<v Speaker 4>a majority of one, and good luck renegotiating the tax

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<v Speaker 4>code right in an environment like that. We've got some

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<v Speaker 4>big stuff coming including the debt ceiling, that they were

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<v Speaker 4>unable to manage it.

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<v Speaker 1>Bloomer's Joe Matthew shes the Republicans who have signed possible

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<v Speaker 1>opposition to Mike Johnson, his House Speaker, are concerned about

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<v Speaker 1>government spending.

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<v Speaker 2>Elsewhere in Washington, President Biden marked Thursday, January ninth as

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<v Speaker 2>a national day of mourning for former US President Jimmy Carter,

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<v Speaker 2>who died at the age of one hundred. On Sunday,

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<v Speaker 2>US doc markets will close in observance as part of

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<v Speaker 2>a long standing American tradition. Bloomberg's Tyler Kendall has more

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<v Speaker 2>on what we can expect on January ninth.

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<v Speaker 5>We are expecting there to be a funeral procession first,

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<v Speaker 5>though Jimmy Carter will lie in state in Atlanta and

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<v Speaker 5>the Georgia State capital over the weekend. His body will

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<v Speaker 5>then be transported to Washington on Monday, where he then

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<v Speaker 5>will lie in state at the US Capitol. I've learned

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<v Speaker 5>that only twelve other presidents have had that honor of

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<v Speaker 5>lying in state at the US Capitol before his funeral

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<v Speaker 5>possession to the National Cathedral.

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<v Speaker 2>Bloomberg's Tyler Kendall says President Biden has also expected to

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<v Speaker 2>deliver a eulogy for former President Carter on January ninth.

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<v Speaker 1>Well in politics overseas, amy German leaders are expressing anger

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<v Speaker 1>over Elon musks repeated public support to the country's far

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<v Speaker 1>right party AfD. In a televised New Year's Eve address,

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<v Speaker 1>German Chancellor Oloff Schultz said German citizens alone will decide

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<v Speaker 1>the direction of the country, not owners of social media channels.

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<v Speaker 1>Other major parties attacked Musk after he expressed support for

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<v Speaker 1>the AfD party. With less than two months until the election,

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<v Speaker 1>the conservative CDUCSU alliance has a comfortable lead in opinion polls,

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<v Speaker 1>with the AfD in second place and Schultz's SPD party

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<v Speaker 1>in third.

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<v Speaker 2>Meanwhile, over in Asia, we are seeing positive signs from

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<v Speaker 2>China's economy to end the yearsident that Shijinping says, the

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<v Speaker 2>Chinese economy is expected to expand around five percent for

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<v Speaker 2>twenty twenty four, signaling that Beijing is on track to

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<v Speaker 2>meet its official targets now. This comes as new data

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<v Speaker 2>shows China's services activities expanding at the fastest pace in

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<v Speaker 2>nine months, while manufacturing grew for a third month in

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<v Speaker 2>a row. China is expected to set a twenty twenty

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<v Speaker 2>five growth target, similar to twenty twenty four.

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<v Speaker 1>Well elsewhere in Asia, amy a South Korean court as

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<v Speaker 1>issued an arrest warrant for President yunsuk u all over

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<v Speaker 1>insurrection allegations related to his short lived martial law declaration.

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<v Speaker 1>If executed, Yun would be the first sitting president in

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<v Speaker 1>South Korea's history to be arrested. It's unclear if investigators

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<v Speaker 1>will be able to take him into custody. Yun's team

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<v Speaker 1>is called the warrant illegal and invalid and plans to

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<v Speaker 1>seek an injunction from the Constitutional Court.

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<v Speaker 2>Let's turn out to markets. On the final trading day

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<v Speaker 2>of twenty twenty four, Global equities are on course for

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<v Speaker 2>their first quarterly loss of the year. Meanwhile, in the US,

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<v Speaker 2>the S and P and Nasdaq each declined more more

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<v Speaker 2>than one percent yesterday, marking the third time the indexes

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<v Speaker 2>dropped more than one percent over the past eight sessions. Still,

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<v Speaker 2>the S and B has gained more than twenty percent

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<v Speaker 2>on the year, driven by the rally in megacats tech stocks.

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<v Speaker 2>Anna wrathbund Cio at SEBIZ says, with the FED expected

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<v Speaker 2>to keep monetary policy tied in twenty twenty five to

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<v Speaker 2>bring inflation down to two percent, traders could see more

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<v Speaker 2>choppy sessions in the new year.

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<v Speaker 6>Two percent.

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<v Speaker 7>We need to revisit that and we need to really

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<v Speaker 7>talk about whether or not that's a realistic goal without

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<v Speaker 7>slowing down the economy. And we think that we're in

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<v Speaker 7>a higher for longer inflation environment, and that is that

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<v Speaker 7>all of those things just basically mean higher tenure yield,

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<v Speaker 7>and that's one of the reasons why we think there's going.

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<v Speaker 2>To be price volatility and our wrathbund Cio at Sea

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<v Speaker 2>Biz says. Additional investor concerns in twenty twenty five range

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<v Speaker 2>from President elect Donald Trump's protectionist policies, to the health

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<v Speaker 2>of the European and Chinese economies.

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<v Speaker 1>And finally, amy as we ring in the new year,

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<v Speaker 1>estimates from the US Census Bureaus say the world population

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<v Speaker 1>will be almost eight point one billion people on January first.

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<v Speaker 1>We get more on that with the Bloomberg's Charlie Pellett.

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<v Speaker 6>Those estimates say the global population increased by more than

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<v Speaker 6>seventy one million people in twenty twenty four, representing a

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<v Speaker 6>point nine percent increase, which was a slight slowdown from

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<v Speaker 6>twenty twenty three, when the world population grew by seventy

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<v Speaker 6>five million people. The US meanwhile expanded by two point

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<v Speaker 6>six million people, and on New Year's Day, the population

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<v Speaker 6>count will be three hundred and forty one million people.

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<v Speaker 6>The nation is expected to have one berth every nine

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<v Speaker 6>seconds and one death every nine point four seconds. In

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<v Speaker 6>January of twenty twenty five, in New York, Charlie Pellett

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<v Speaker 6>Bloomberg Radio, it.

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<v Speaker 1>Is time now for look at some of the other

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<v Speaker 1>stories making news in New York and around the world.

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<v Speaker 1>And for that we're joined by Bloomberg's Michael Barr Michael, good.

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<v Speaker 8>Morning, Good morning, Karen Sight. Securities plan for New Year's celebrations,

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<v Speaker 8>but no specific threats. According to law enforcement, Times Square

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<v Speaker 8>in New York City will be packed with partygoers to

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<v Speaker 8>ring in twenty twenty five. Mayor Eric Adams vows that

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<v Speaker 8>they're increased NYPD presence, including K nine teams, drones, boats,

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<v Speaker 8>and helicopters will provide a safe environment for visitors and

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<v Speaker 8>New Yorkers alike. Make sure each one of those who

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<v Speaker 8>come here to visit and enjoyed the ball drop will

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<v Speaker 8>be safe. In Atlanta, large crowds are expected for the

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<v Speaker 8>Peach Drop returning this year after a hiatus in Las Vegas.

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<v Speaker 8>Two hundred and fifty thousand expected on the strip for

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<v Speaker 8>the countdown to twenty twenty five. In Philadelphia, Deputy Police

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<v Speaker 8>Commissioner Mike Cram says the city is preparing for Tomorrow's

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<v Speaker 8>Mummers Parade.

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<v Speaker 9>We always take a very layered approach, right, and that's

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<v Speaker 9>everything from law enforcement to the use of other parts

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<v Speaker 9>of the city. As you go around, you'll see sanitation

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<v Speaker 9>trucks that doubles walking vehicles as well to restrict access

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<v Speaker 9>onto the parade routes, things that nature.

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<v Speaker 8>It's the oldest continuous Folk Day parade and a New

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<v Speaker 8>Year's tradition since nineteen oh one. New York City's controversial

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<v Speaker 8>pricing plan for drivers coming into parts of Manhattan is

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<v Speaker 8>set to take effect Sunday, but a federal judge said

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<v Speaker 8>hold on. They want more information about the effects of

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<v Speaker 8>congestion pricing on communities in New Jersey. Lisaid Daglian is

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<v Speaker 8>an advocate for congestion pricing in New York who says

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<v Speaker 8>the MTA plan can still move forward.

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<v Speaker 2>It would be different responses that will have to happen

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<v Speaker 2>over sometime.

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<v Speaker 10>It will have started.

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<v Speaker 8>But New Jersey lawmakers disagree. New Jersey Congressman Josh Gotdheimer.

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<v Speaker 11>And the way New Jersey's lawyers are responding is when

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<v Speaker 11>you remand back for answers and further study, New York

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<v Speaker 11>can't go ahead.

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<v Speaker 8>The judge set a deadline of January seventeenth for New

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<v Speaker 8>York to respond. President elect Donald Trump lost a bid

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<v Speaker 8>to overturn a five million dollar judgment against him for

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<v Speaker 8>sexual abuse and defamation. A federal appeals scored uphill the

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<v Speaker 8>damages awarded to e Gene Carrell. The columnists hailed the

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<v Speaker 8>decision in an online post, writing twenty twenty four ends

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<v Speaker 8>with a win. Carol accused Trump of raping her in

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<v Speaker 8>a department store dressing room about thirty years ago. Global

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<v Speaker 8>News twenty four hours a day and whenever you want

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<v Speaker 8>it with the Bloomberg News. Now, I'm Michael Barn. This

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<v Speaker 8>is Bloomberg.

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<v Speaker 3>Karen.

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<v Speaker 1>All right, Michael Barn, thank you time now for the

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<v Speaker 1>Bloomberg Sports Update, brought to you by tries Dade Audie.

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<v Speaker 1>We bring in Dan Schwartzman.

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<v Speaker 12>Dan, good morning, Good morning, Karen. The line's improving to

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<v Speaker 12>fourteen and two as a big road win in San

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<v Speaker 12>Francisco GoF here's a.

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<v Speaker 11>Little lateral to Williams saying he's down the sunline and

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<v Speaker 11>co on for a touchdown. Almond Ross Saint Brown made

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<v Speaker 11>the catch. He's done this before this year, Almen Ross

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<v Speaker 11>Saint Brown, and this time the lateral for the touchdown.

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<v Speaker 12>That's Chrissy vspn Lines beating the forty nine Ers forty

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<v Speaker 12>to thirty four in match of last year's NFC Championship

0:10:02.320 --> 0:10:04.880
<v Speaker 12>game won by the Niners as shared goff throws for

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<v Speaker 12>three hundred and three yards and three touchdowns. The win

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<v Speaker 12>by the Lions setting up a week eighteen Sunday night

0:10:10.000 --> 0:10:12.760
<v Speaker 12>showdown versus the fourteen to two Vikings for both the

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<v Speaker 12>NFC North title as well as the top seat in

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<v Speaker 12>the NFC and a first round by heading into the playoffs.

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<v Speaker 12>The loser will become the NFL's first fourteen win wild

0:10:21.760 --> 0:10:24.400
<v Speaker 12>card team Nicks winner eighth in a row. They knock

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<v Speaker 12>off the Wizards one twenty six to one oh six,

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<v Speaker 12>Karl Anthony Towns leading the next for thirty points and

0:10:29.640 --> 0:10:33.360
<v Speaker 12>thirteen rebounds, else Arad Nikola Jokich putting up a ridiculous

0:10:33.360 --> 0:10:36.600
<v Speaker 12>thirty six points with twenty two rebounds and eleven assists

0:10:36.760 --> 0:10:38.679
<v Speaker 12>and a Nuggets one thirty two to one to twenty

0:10:38.679 --> 0:10:41.160
<v Speaker 12>one win over the Jazz, while the Cavaliers improved our

0:10:41.240 --> 0:10:43.920
<v Speaker 12>league best twenty eight and four with a one to

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<v Speaker 12>thirteen to ninety five win over the Warriors. College football

0:10:47.120 --> 0:10:50.319
<v Speaker 12>playoffs resuming tonight in Glendale, Arizona, with the first to

0:10:50.400 --> 0:10:53.000
<v Speaker 12>four quarter final matchups as the third seed Boise State

0:10:53.040 --> 0:10:56.079
<v Speaker 12>battle six seed a Penn State at the Verbo Fiesta Bowl.

0:10:56.280 --> 0:10:59.520
<v Speaker 12>Kickoff is scheduled for seven thirty pm Eastern time. Light

0:10:59.600 --> 0:11:02.720
<v Speaker 12>schedule on the NHL Rangers, though lose their fifteenth game

0:11:02.720 --> 0:11:05.400
<v Speaker 12>in the last twenty they fall to the Florida Panthers

0:11:05.440 --> 0:11:08.040
<v Speaker 12>five to three. They remain in last place in the

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<v Speaker 12>Metropolitan Division. That's your Bloomberg Sports update. I'm Dan Schwartzman,

0:11:12.200 --> 0:11:13.240
<v Speaker 12>Karen and Amy.

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<v Speaker 8>Coast to Coast on Bloomberg Radio nationwide on SYRIUSXM.

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<v Speaker 6>And around the world on Bloomberg dot Com and the

0:11:22.280 --> 0:11:25.679
<v Speaker 6>Bloomberg Business app. This is Bloomberg Daybreak.

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<v Speaker 2>And the Treasury Department says Chinese hackers have remotely accessed

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<v Speaker 2>several Treasury Department workstations and unclassified documents. After it was

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<v Speaker 2>able to compromise a third party software service provider. We're

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<v Speaker 2>joined now by Bloomberg Radio and TV Markets correspondent Creedy

0:11:43.880 --> 0:11:46.480
<v Speaker 2>Gupta to sort of fill us in on exactly what's

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<v Speaker 2>going on here. Creedy, we're getting a little more information

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<v Speaker 2>now about the cyber incident. So Chinese hackers have accessed

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<v Speaker 2>Treasury Department workstations, there was a third party software provider

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<v Speaker 2>that was sort of their doorway to this. Tell us

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<v Speaker 2>what's going on here.

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<v Speaker 10>Good morning, Amy. So Beyond Trust is that third party

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<v Speaker 10>software provider basically sells access software cybersecurity products to the

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<v Speaker 10>likes of the US Treasury and other federal government agencies

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<v Speaker 10>as well. It's a contract that's worth more than four

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<v Speaker 10>million dollars. That's according to data compiled by Bloomberg. But Amy,

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<v Speaker 10>I think what's scary here is that this is a

0:12:23.520 --> 0:12:25.719
<v Speaker 10>kind of notification that Beyond Trust gave to the US

0:12:25.760 --> 0:12:28.640
<v Speaker 10>Treasury Department that there was some sort of hacking tied

0:12:28.720 --> 0:12:31.200
<v Speaker 10>to China, as as you had just said, but that

0:12:31.280 --> 0:12:33.960
<v Speaker 10>they also Beyond Trust also does business with other departments

0:12:34.040 --> 0:12:36.480
<v Speaker 10>like the Department of Defense, Department of Veterans Affairs, the

0:12:36.480 --> 0:12:39.760
<v Speaker 10>Department of Justice, just to name a couple of other agencies.

0:12:39.840 --> 0:12:42.760
<v Speaker 10>So it's uncleared the extent to which this has been

0:12:42.920 --> 0:12:45.720
<v Speaker 10>affected or the amount of customers that were really involved.

0:12:45.880 --> 0:12:48.040
<v Speaker 10>But so far, all we know is that Beyond Trust

0:12:48.080 --> 0:12:51.360
<v Speaker 10>had notified the Treasury that a certain amount of kind

0:12:51.360 --> 0:12:54.559
<v Speaker 10>of data and contact information, et cetera from an undisclosed

0:12:54.600 --> 0:12:58.000
<v Speaker 10>number of Americans was accessed by this hacker that they

0:12:58.000 --> 0:12:59.319
<v Speaker 10>have now traced back to China.

0:13:00.160 --> 0:13:03.240
<v Speaker 2>Now, this is coming right after US officials dealing with

0:13:03.240 --> 0:13:07.240
<v Speaker 2>the fallout of another cyber espionage campaign access in those

0:13:07.240 --> 0:13:11.320
<v Speaker 2>private texts and phone conversations of an unknown number of Americans.

0:13:11.360 --> 0:13:12.960
<v Speaker 2>Are we going to see more of this? What's going

0:13:13.000 --> 0:13:13.439
<v Speaker 2>on here?

0:13:14.040 --> 0:13:15.240
<v Speaker 10>I mean, we don't know if we're going to see

0:13:15.280 --> 0:13:16.920
<v Speaker 10>more of this. I mean, there seems to be a

0:13:17.040 --> 0:13:19.720
<v Speaker 10>pattern developing, as you just laid out, But that's exactly

0:13:19.760 --> 0:13:22.640
<v Speaker 10>the pattern that the Chinese government is trying to get

0:13:22.679 --> 0:13:24.520
<v Speaker 10>ahead of, because we still don't know if this was

0:13:24.600 --> 0:13:26.760
<v Speaker 10>associated with the Chinese government. At the end of the day,

0:13:26.800 --> 0:13:29.880
<v Speaker 10>the embassy of the Chinese embassy over in Washington already

0:13:30.200 --> 0:13:33.120
<v Speaker 10>kind of being very outspoken about this, saying, quote, spare

0:13:33.160 --> 0:13:37.520
<v Speaker 10>attacks against China without any factual basis. The US needs

0:13:37.559 --> 0:13:40.600
<v Speaker 10>to stop using cybersecurity to smear and slander China and

0:13:40.600 --> 0:13:44.559
<v Speaker 10>stop spreading all kinds of disinformation about the so called

0:13:44.720 --> 0:13:46.960
<v Speaker 10>Chinese hacking throat. Those are the words of the Chinese

0:13:46.960 --> 0:13:50.040
<v Speaker 10>embassy in Washington, which really speaks to this trend. Amy,

0:13:50.080 --> 0:13:52.559
<v Speaker 10>as you said that this has been coming out of

0:13:52.720 --> 0:13:55.559
<v Speaker 10>out of at least been associated with China lately in

0:13:55.840 --> 0:13:58.120
<v Speaker 10>the campaign you were talking about, and now with this

0:13:58.200 --> 0:14:01.440
<v Speaker 10>leak as well. But again it's unclear who's actually behind it.

0:14:01.480 --> 0:14:04.600
<v Speaker 10>There's just clear that the US government is exposed in

0:14:04.600 --> 0:14:06.720
<v Speaker 10>a way that they may never thought they would be

0:14:06.720 --> 0:14:08.479
<v Speaker 10>before and taking.

0:14:08.240 --> 0:14:10.959
<v Speaker 2>A broader look at this, as you said very rightly,

0:14:11.000 --> 0:14:13.920
<v Speaker 2>So we don't really know if this is specifically associated

0:14:14.160 --> 0:14:16.400
<v Speaker 2>with the Chinese government, but it's sure not going to

0:14:16.400 --> 0:14:18.400
<v Speaker 2>help relations between Washington and Beijing.

0:14:18.920 --> 0:14:21.320
<v Speaker 10>They absolutely aren't at a time when we know not

0:14:21.360 --> 0:14:23.760
<v Speaker 10>only Donald Trump, but even under the Biden administration have

0:14:23.840 --> 0:14:26.400
<v Speaker 10>been looking at ways at the American economy in the

0:14:26.440 --> 0:14:29.560
<v Speaker 10>way the American stock market, for example, in other parts

0:14:29.840 --> 0:14:33.440
<v Speaker 10>of the American infrastructure are intertwined but also under threat

0:14:33.480 --> 0:14:36.200
<v Speaker 10>with China. And remember this comes after not only a

0:14:36.240 --> 0:14:38.960
<v Speaker 10>trade war looming between the United States and China and

0:14:38.960 --> 0:14:41.760
<v Speaker 10>perhaps even more terrift than a new administration. But the

0:14:41.800 --> 0:14:45.720
<v Speaker 10>idea that we're talking about things like how much debt

0:14:45.920 --> 0:14:48.920
<v Speaker 10>China buys from the United States. We're talking about how

0:14:49.200 --> 0:14:51.720
<v Speaker 10>Chinese companies can or cannot be listed on the New

0:14:51.800 --> 0:14:55.160
<v Speaker 10>York Stock Exchange, on the NASAC, et cetera. Not to

0:14:55.240 --> 0:14:58.600
<v Speaker 10>mention some of the kind of spyware and cybersecurity threats

0:14:58.640 --> 0:15:01.280
<v Speaker 10>as we were just talking about, and other alliances that

0:15:01.280 --> 0:15:05.480
<v Speaker 10>they're making internationally. Remember the partnership between China and Russia,

0:15:05.520 --> 0:15:08.160
<v Speaker 10>between China and India, between China and the EU are

0:15:08.240 --> 0:15:10.440
<v Speaker 10>all under the magnifying glass right now in terms of

0:15:10.520 --> 0:15:13.440
<v Speaker 10>how that all affects the United States. And I think

0:15:13.480 --> 0:15:16.440
<v Speaker 10>Donald Trump is going to kind of put that under

0:15:16.480 --> 0:15:17.800
<v Speaker 10>an even hotter spotlight.

0:15:18.520 --> 0:15:21.480
<v Speaker 2>Absolutely, And you mentioned that other agencies that use this

0:15:21.640 --> 0:15:25.440
<v Speaker 2>third party vendor maybe at risk. It isn't clear yet,

0:15:25.480 --> 0:15:30.440
<v Speaker 2>but that this third party vendor also is associated with

0:15:30.480 --> 0:15:33.960
<v Speaker 2>other federal agencies. Fair enough, could this put a chilling

0:15:34.000 --> 0:15:37.440
<v Speaker 2>effect on using these third party type contractors for something like.

0:15:37.400 --> 0:15:41.160
<v Speaker 10>This, It absolutely could. And remember we are not only

0:15:41.160 --> 0:15:42.840
<v Speaker 10>seeing this in the government space. We saw this in

0:15:42.840 --> 0:15:46.120
<v Speaker 10>the corporate space as well. When the Microsoft outage with

0:15:47.480 --> 0:15:50.600
<v Speaker 10>several kind of data and cybersecurity providers with CrowdStrike led

0:15:50.640 --> 0:15:53.000
<v Speaker 10>to a global outage, a grounding of flights that the

0:15:53.000 --> 0:15:55.440
<v Speaker 10>one in Stock exchange was affected. So this is something

0:15:55.480 --> 0:15:58.440
<v Speaker 10>that's getting a little bit scarier. And Amy are sure

0:15:58.440 --> 0:16:01.080
<v Speaker 10>you'll remember on the onset of the war Ukraine, for example,

0:16:01.080 --> 0:16:05.440
<v Speaker 10>cybersecurity stocks did really, really well because of this anticipation

0:16:05.560 --> 0:16:07.840
<v Speaker 10>that that cybersecurity product would be needed.

0:16:07.880 --> 0:16:08.640
<v Speaker 2>You talk about AI.

0:16:08.760 --> 0:16:11.400
<v Speaker 10>This is just another element where cybersecurity has to be

0:16:11.640 --> 0:16:13.960
<v Speaker 10>kind of intertwined with that story. But in terms of

0:16:14.080 --> 0:16:16.320
<v Speaker 10>using the software, you also have to talk about what

0:16:16.560 --> 0:16:18.920
<v Speaker 10>actions the government is going to be using. And Newburger,

0:16:18.960 --> 0:16:23.400
<v Speaker 10>who's the Deputy National Security Advisor for cyber and Emerging Technologies,

0:16:23.760 --> 0:16:28.080
<v Speaker 10>said that the administration has actions planned hole Beijing accountable

0:16:28.320 --> 0:16:30.880
<v Speaker 10>after moving ahead with a band on Chinese telicom in

0:16:30.920 --> 0:16:33.360
<v Speaker 10>the United States, so that maybe something they expand upon.

0:16:33.640 --> 0:16:36.560
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