WEBVTT - Trump Delays Canada, Mexico Auto Tariffs For One Month 0:00:02.520 --> 0:00:10.119 Bloomberg Audio Studios, podcasts, radio news. You're listening to the 0:00:10.119 --> 0:00:13.880 Bloomberg Balance of Power podcast. Catch us live weekdays at 0:00:13.920 --> 0:00:17.119 noon and five pm Eastern on Apple Coarclay and Android 0:00:17.160 --> 0:00:20.520 Auto with the Bloomberg Business App. Listen on demand wherever 0:00:20.600 --> 0:00:23.720 you get your podcasts, or watch us live on YouTube. 0:00:25.320 --> 0:00:28.159 Investors are not waiting around for an official announcement on 0:00:28.240 --> 0:00:30.920 this auto tariff delay. Just watch GM. This is a 0:00:30.920 --> 0:00:34.160 pretty remarkable moment here following the big speech last night, 0:00:34.200 --> 0:00:37.400 So welcome yes to the day after the Wednesday edition 0:00:37.520 --> 0:00:40.080 of Balance of Power here on Bloomberg Radio, the satellite 0:00:40.159 --> 0:00:42.680 radio channel one twenty one, and on YouTube, where you 0:00:42.680 --> 0:00:46.400 can find us right now by searching Bloomberg Business News Live. 0:00:47.479 --> 0:00:50.080 No travel schedule for Donald Trump. I guess he's sleeping 0:00:50.080 --> 0:00:52.680 this offul little bit. But he is also meeting with 0:00:53.440 --> 0:00:56.840 members of Congress here to talk about the way forward 0:00:56.960 --> 0:01:00.520 on a budget resolution, reconciliation and maybe even and funding 0:01:00.520 --> 0:01:02.480 the government ten days from now. But we've got a 0:01:02.480 --> 0:01:06.080 lot to unpack from last night, as Wall Street shakes 0:01:06.120 --> 0:01:09.160 it off here on this fifth of March with news 0:01:09.200 --> 0:01:14.520 on tariffs following tariff Tuesday and a speech to a 0:01:14.600 --> 0:01:18.319 joint Session of Congress that embraced what Donald Trump considers 0:01:19.200 --> 0:01:22.320 the most beautiful word in the dictionary. Let's listen. 0:01:22.920 --> 0:01:25.759 If you don't make your product in America, however, under 0:01:25.800 --> 0:01:29.160 the Trump administration, you will pay a tariff, and in 0:01:29.160 --> 0:01:33.160 some cases a rather large one. Countless other nations charge 0:01:33.200 --> 0:01:38.800 us tremendously higher tariffs than we charge them. April second, 0:01:39.240 --> 0:01:41.200 reciprocal tariffs kick in. 0:01:41.440 --> 0:01:43.400 The tariffs will. 0:01:42.959 --> 0:01:47.480 Go on agricultural product coming into America and our farmers 0:01:47.480 --> 0:01:50.520 starting on April second. It may be a little bit 0:01:50.560 --> 0:01:53.960 of an adjustment period. I've also imposed a twenty five 0:01:54.000 --> 0:01:58.120 percent tariff on foreign aluminum, copper, lumber, and steel. Tariffs 0:01:58.160 --> 0:02:02.080 are about making America richie again and making America great again. 0:02:02.120 --> 0:02:04.960 And it's happening, and it will happen rather quickly. There'll 0:02:05.000 --> 0:02:09.480 be a little disturbance, but we're okay with that. 0:02:11.760 --> 0:02:14.920 A little disturbance in the force. We were watching, so 0:02:15.000 --> 0:02:19.760 you didn't have to one hundred minutes long. Everybody crawled 0:02:19.760 --> 0:02:22.839 out of here around midnight last night. Nine thousand, eight 0:02:22.919 --> 0:02:25.680 hundred eighty eight words. According to the transcript, Donald Trump 0:02:25.720 --> 0:02:30.800 went for broke, and indeed broke President Bill Clinton's eighty 0:02:30.840 --> 0:02:35.200 eight minute record. Remember in conclusion, that's where we start 0:02:35.240 --> 0:02:39.240 our conversation with Ashley Davis, who was also watching along 0:02:39.320 --> 0:02:42.760 last evening, Republican strategist partner S three Group, former senior 0:02:42.800 --> 0:02:45.920 Stafford the Apartment of Homeland Security. Ashley, it's great to 0:02:45.919 --> 0:02:48.120 see you. Welcome back. I don't know if you've recovered 0:02:48.160 --> 0:02:51.400 from a record setter last night, But was it time 0:02:51.440 --> 0:02:55.400 well spent because the market's still pretty confused about tariff 0:02:55.440 --> 0:02:57.359 Tuesday among a lot of other things. 0:02:57.720 --> 0:03:00.800 Well, I don't think anything's will spent for one hundred minutes, 0:03:00.840 --> 0:03:03.920 So no, I don't think so. But I do miss 0:03:03.960 --> 0:03:06.680 the Bush days when everyone criticized him for not talking 0:03:06.720 --> 0:03:11.120 long enough, and we all miss that. But listen, it 0:03:11.200 --> 0:03:15.080 was these the last few years have turned into political speeches. 0:03:15.160 --> 0:03:17.720 I mean, I feel that last night in some ways 0:03:17.760 --> 0:03:21.000 we've all hit a new low in regards to how 0:03:21.040 --> 0:03:24.840 the Democrats were reacting, how the Republicans have reacted under 0:03:24.880 --> 0:03:27.800 when Democrats spoke, And you know, I just I don't 0:03:27.840 --> 0:03:31.720 like it when you have different positive messages that are 0:03:31.720 --> 0:03:34.760 coming out, whether it's about a death of somebody or 0:03:34.760 --> 0:03:38.160 whatever it is, that you can't be you're so angry 0:03:38.160 --> 0:03:40.600 at each other that you can't support some of that stuff. 0:03:40.640 --> 0:03:43.200 So that's what I would say, just from a high level. 0:03:43.240 --> 0:03:46.560 But obviously we've been talking about this Joe for the 0:03:46.680 --> 0:03:51.720 last year, about his favorite word being tariffs. Yesterday, I 0:03:51.760 --> 0:03:54.280 think he knew exactly what he was doing. The team 0:03:54.320 --> 0:03:56.960 knew exactly what they were doing in regards to putting 0:03:57.560 --> 0:04:00.480 these tariffs, at least in place for a short period 0:04:00.480 --> 0:04:02.840 of time. I think that they knew it was going 0:04:02.880 --> 0:04:05.720 to impact the markets. It obviously did impact the markets. 0:04:06.240 --> 0:04:09.400 You see them taking a step back today. I thought Lutinx, 0:04:09.640 --> 0:04:14.440 that secretary of Lutinik on Bloomberg earlier today, gave a 0:04:14.480 --> 0:04:17.680 lot of information in regards to any type of exemptions 0:04:17.720 --> 0:04:20.960 and saying that if there are going to be exemptions 0:04:20.960 --> 0:04:23.839 that the President puts in place over the next month, 0:04:24.520 --> 0:04:27.880 that we should look at USMCA and the exemptions that 0:04:27.960 --> 0:04:30.240 are there. So I think they are starting to show 0:04:30.240 --> 0:04:34.360 the te leues. I think it was very pointed today 0:04:34.480 --> 0:04:37.839 that he just put out the announcement on the automobiles, 0:04:37.880 --> 0:04:39.479 because what, look what the market's doing. 0:04:39.600 --> 0:04:40.080 So I. 0:04:42.440 --> 0:04:44.919 People say crazy like a fox, and you know, I 0:04:44.960 --> 0:04:47.360 don't back off that. Sometimes I'm not saying it's right 0:04:47.440 --> 0:04:53.080 or wrong, but I don't think that they are. You know, 0:04:53.240 --> 0:04:55.080 when he was in the first time, everyone was like, no, 0:04:55.120 --> 0:04:56.440 he doesn't know how to run the country. Dah da 0:04:56.480 --> 0:04:58.719 da dah. But they've been preparing for this for years, 0:04:58.720 --> 0:05:00.560 and I do think that he's going to continue to 0:05:00.640 --> 0:05:04.520 use these tariffs, not just on the financial parts, but 0:05:04.600 --> 0:05:06.880 also in regards to foreign policy. 0:05:08.320 --> 0:05:12.320 You're a strategist, Ashley, though you're a communicator by profession. 0:05:12.400 --> 0:05:15.640 You know how to tell an elected official, how to 0:05:15.640 --> 0:05:18.400 crystallize a message, and how not to get in trouble, 0:05:18.400 --> 0:05:21.080 how not to break into jail. That cut we just 0:05:21.080 --> 0:05:23.839 heard from Donald Trump. There'll be a little disturbance talking 0:05:23.880 --> 0:05:27.599 about tariffs, but we're okay with that. It won't be 0:05:27.720 --> 0:05:31.120 much that's begging to be put in a campaign at 0:05:31.120 --> 0:05:33.080 if this thing turns south, isn't it. Oh? 0:05:33.160 --> 0:05:34.240 Yeah? 0:05:34.920 --> 0:05:36.320 But I regret saying that. 0:05:37.279 --> 0:05:39.040 I don't know if he will because is it going 0:05:39.080 --> 0:05:41.839 to really impact him. He can't run again, so it's 0:05:41.880 --> 0:05:45.720 going to be more that the House and Senate members 0:05:45.760 --> 0:05:47.839 that are going to be up for reelection, the governors, 0:05:48.040 --> 0:05:49.719 you know, doesn't have a triple down effect. But I 0:05:49.720 --> 0:05:52.800 think one thing that he definitely has to deal with, 0:05:52.839 --> 0:05:56.800 which was not addressed last night, were the pocketbook issues 0:05:56.800 --> 0:05:59.080 in regards to egg prices. I mean, we can go 0:05:59.120 --> 0:06:01.080 on and on. I don't need to name them. So 0:06:02.080 --> 0:06:03.120 tariffs from. 0:06:03.160 --> 0:06:04.719 Said those are Joe Biden's zagg. 0:06:04.600 --> 0:06:08.080 Prices exactly exactly. Well, that's not going to last for 0:06:08.400 --> 0:06:09.960 you can't Does you get to do that? 0:06:10.120 --> 0:06:10.320 Yeah? 0:06:10.320 --> 0:06:12.320 I mean I remember saying this when Biden came in 0:06:12.360 --> 0:06:14.680 with Trump, like, you can't continue to blame Trump for 0:06:14.760 --> 0:06:17.679 how you know, six months a year after that they left. 0:06:17.720 --> 0:06:20.279 So there has to be a grasp because I don't 0:06:20.279 --> 0:06:22.719 know if the everyday Americans really paying attention to the 0:06:22.720 --> 0:06:25.240 tariffs like you and I are, but I think that 0:06:25.240 --> 0:06:28.200 they're definitely paying attention to their grocery bills. 0:06:29.480 --> 0:06:33.200 Yeah, he told Congress to scrap the Chips Act and 0:06:33.600 --> 0:06:38.520 send spend the money on reducing debt. I realized the 0:06:38.560 --> 0:06:41.800 spirit of kind of rescinding or overturning the Biden agenda 0:06:42.000 --> 0:06:44.920 is part of Donald Trump's approach here. But doesn't that 0:06:45.040 --> 0:06:48.320 argue with the idea of bringing businesses like this back 0:06:48.320 --> 0:06:48.960 to the US. 0:06:49.960 --> 0:06:52.599 Yes, and I that was actually something I was pretty 0:06:52.640 --> 0:06:55.160 surprised about, right, before he went on that they were 0:06:55.160 --> 0:06:57.279 going to concentrate on that. I you know, just seeing 0:06:57.320 --> 0:07:00.640 come some of the talking points. I and especially because 0:07:00.640 --> 0:07:04.880 that was a pretty bipartisan bill, I would think he's 0:07:04.920 --> 0:07:07.640 talking about some of the money that wasn't spent at 0:07:07.640 --> 0:07:12.720 Commerce yet that maybe reappropriating that or moving that to 0:07:12.840 --> 0:07:17.120 different parts of the agency for different priorities. But I 0:07:17.160 --> 0:07:20.080 don't think that that can happen in regards to legislation 0:07:20.280 --> 0:07:23.440 that's already earmarked for certain things. I mean, we'll see. 0:07:23.480 --> 0:07:25.360 I mean, we have this, we're having this discussion all 0:07:25.360 --> 0:07:27.800 the time of how money is being spent with those cuts. 0:07:28.640 --> 0:07:30.480 But that was a surprise. So I don't know where 0:07:30.520 --> 0:07:33.040 that's going at this point, but I will see. 0:07:34.480 --> 0:07:37.680 Would you think of the Democrats in the room the 0:07:37.680 --> 0:07:40.680 Algreen demonstration. We're three minutes into this thing. Actually I 0:07:40.720 --> 0:07:42.560 thought it was going off the rails. Donald Trump did 0:07:42.600 --> 0:07:44.920 seem to get things under control again, or at least 0:07:44.960 --> 0:07:48.560 Democrats gave up on the initial effort to protest. There 0:07:48.560 --> 0:07:50.720 were a few who walked out, like Bernie Sanders, a 0:07:50.720 --> 0:07:52.280 few who boycotted. Does any of this. 0:07:52.280 --> 0:07:55.080 Matter No, I mean, I think this is kind of 0:07:55.080 --> 0:07:57.640 the polarization of the country and you saw it once again. 0:07:58.520 --> 0:08:00.000 Just what I said at the beginning of the show 0:08:00.120 --> 0:08:03.000 though that concerns me is you do have issues that 0:08:03.040 --> 0:08:06.320 we can't agree on, or tragedies that we should all 0:08:06.360 --> 0:08:09.240 be agreeing on. That just we can't even be doing 0:08:09.280 --> 0:08:11.920 that from both sides of the aisles. So I mean, 0:08:12.720 --> 0:08:15.400 does it make people look I'm just saying this from 0:08:15.400 --> 0:08:17.720 a Democrat perspective because they're in the minority right now, 0:08:17.720 --> 0:08:21.480 but they don't look classy when they're reacting that way 0:08:21.600 --> 0:08:26.600 in regards to you know what, yelling and during the speech. Obviously, 0:08:26.640 --> 0:08:29.000 I'd say the same thing for Arjorie Taylor Green when 0:08:29.120 --> 0:08:32.560 Biden was doing it. So both sides do it, and 0:08:32.600 --> 0:08:36.079 it's just I think it's not a good way to act. 0:08:36.160 --> 0:08:41.160 Joe, Well, that's right, and that's that's why we like you. Actually, 0:08:41.480 --> 0:08:43.199 you were brought up the right way. It was kind 0:08:43.200 --> 0:08:45.240 of weird watching that they're holding up the signs. I 0:08:45.240 --> 0:08:47.199 thought I was looking at an auction holding. 0:08:46.960 --> 0:08:48.400 Up it's trashy. 0:08:48.520 --> 0:08:51.400 I forget it was congressomme to leave had a whiteboard. 0:08:51.440 --> 0:08:52.920 I'm going to start doing that with some guests when 0:08:52.920 --> 0:08:54.520 they don't answer my questions. I'm going to hold up 0:08:54.520 --> 0:08:56.280 the whiteboard. You can just watch the YouTube feed and 0:08:56.360 --> 0:08:59.000 figure out how I feel about it. Just a minute left, 0:08:59.040 --> 0:09:01.200 Ashley Davis, it's great to have you here. Is Donald 0:09:01.240 --> 0:09:03.120 Trump going to be defined in this second term by 0:09:03.120 --> 0:09:04.520 the tariffs or is there more to it? 0:09:04.960 --> 0:09:07.240 I don't know. I mean, we thought this. We had 0:09:07.240 --> 0:09:09.800 the same conversation in twenty eighteen twenty, you know, end 0:09:09.800 --> 0:09:12.520 of twenty seventeen, beginning twenty eighteen, and then look what 0:09:12.600 --> 0:09:14.720 happened after the tough terroriffs were put on in China 0:09:14.760 --> 0:09:16.679 and everyone said the world's going to come to an end, 0:09:16.720 --> 0:09:20.280 and then Biden never overturned those tariffs. So I think 0:09:20.360 --> 0:09:22.960 that there will be exemptions just like there were before. 0:09:23.160 --> 0:09:26.439 I think obviously China and Mexico, and as Sectuary of 0:09:26.480 --> 0:09:30.960 Utnik said today, that's a war on drugs, not on tariffs. 0:09:30.960 --> 0:09:33.440 We'll see. We'll see what happens on April second. With 0:09:33.520 --> 0:09:38.760 reciprocal tariffs. I think that's obviously a big negotiating tactic 0:09:38.800 --> 0:09:42.320 for the president as well. I think these can be 0:09:42.360 --> 0:09:45.040 defined on a lot. We'll see. Remember last week we 0:09:45.040 --> 0:09:47.040 were talking about Ukraine in the fight in the Oval. 0:09:47.160 --> 0:09:49.040 So this is just a topic of the day. 0:09:49.600 --> 0:09:52.560 Oh my god, Ashley, the world shifts again under our feet. 0:09:52.600 --> 0:09:54.920 Come see us when you're back in the Capitol. It's 0:09:54.920 --> 0:09:57.439 always our pleasure to spend time with the great Ashley Davis, 0:09:57.480 --> 0:10:01.559 Republican Strategist, S three Group, Joe Matthew in Washington. We're 0:10:01.559 --> 0:10:03.920 going to talk about the tariffs in our second hour 0:10:03.960 --> 0:10:07.480 with former Treasury Secretary Larry Summers. Much more ahead, Keller 0:10:07.559 --> 0:10:09.640 at Large is coming in hot from Boston. Next. 0:10:09.679 --> 0:10:15.160 Right here on Bloomberg, you're listening to the Bloomberg Balance 0:10:15.160 --> 0:10:18.280 of Power podcast. Catch us live weekdays at noon and 0:10:18.400 --> 0:10:21.400 five pm. E's durn on Apple Cockley and Android Auto 0:10:21.520 --> 0:10:24.440 with the Bloomberg Business App. You can also listen live 0:10:24.520 --> 0:10:28.080 on Amazon Alexa from our flagship New York station. Just 0:10:28.120 --> 0:10:32.360 say Alexa, play Bloomberg eleven thirty as. 0:10:32.240 --> 0:10:34.880 We peek out of one eye today in the nation's capital. 0:10:34.880 --> 0:10:38.400 Everybody's a little bit bleary after the longest speech in 0:10:38.480 --> 0:10:41.880 recorded history, at least before a joint session of Congress. Yeah, 0:10:41.920 --> 0:10:45.680 one hundred minutes. Truly, you were with us live for 0:10:45.760 --> 0:10:50.920 the duration on Bloomberg Radio and on Bloomberg Television, eight 0:10:51.000 --> 0:10:52.760 hundred eighty eight words, much of it having to do 0:10:52.800 --> 0:10:56.199 with tariffs, but also funding the government. What are we 0:10:56.280 --> 0:10:58.480 nine days out now, nine days out from a shutdown? 0:10:58.880 --> 0:11:01.680 As we seek the truth here on Bloomberg, straddling both 0:11:01.720 --> 0:11:03.959 ends of Pennsylvania Avenue, we can tell you that Donald 0:11:03.960 --> 0:11:06.160 Trump is meeting with House Republicans today at the White 0:11:06.160 --> 0:11:11.400 House on crafting a plan to avoid a shutdown. Elon 0:11:11.559 --> 0:11:14.280 Musk on the other end on Capitol Hill, meeting with 0:11:14.360 --> 0:11:20.040 lawmakers following his fetting last night in the House Chamber. Meanwhile, 0:11:20.080 --> 0:11:24.880 today the House Oversight Committee is busy. Jim Colmer had 0:11:24.880 --> 0:11:29.560 an early start after a late night drawing Democratic mayors 0:11:30.559 --> 0:11:35.559 from sanctuary cities around the country to testify before the committee. Interesting, 0:11:36.400 --> 0:11:39.040 none of the mayors of these cities ever call them 0:11:39.120 --> 0:11:43.480 sanctuary cities. But as you consider the idea here of 0:11:43.480 --> 0:11:46.440 the Oversight trying to get some buzz and a very 0:11:46.520 --> 0:11:51.760 busy news cycle, there's only one strategy left, and that 0:11:51.920 --> 0:11:55.920 is video production. They actually made a trailer for this 0:11:56.040 --> 0:11:58.959 hearing that unfolded this morning with the likes of Mayor 0:11:59.120 --> 0:12:02.600 Eric Adams of New York, Michelle wou of Boston. Here's 0:12:02.600 --> 0:12:03.160 a taste. 0:12:03.760 --> 0:12:08.680 But provide sanctuary and protection for dangerous criminals push back in. 0:12:08.720 --> 0:12:11.959 The sanctuary City of Boston, Mayor Michelle wou So the 0:12:12.000 --> 0:12:14.960 city will not cooperate with his plan for mass deportation. 0:12:15.240 --> 0:12:18.839 These agents in Massachusetts arresting two illegal immigrants facing it 0:12:18.920 --> 0:12:21.760 sex crimes against children and two separate instances. 0:12:23.040 --> 0:12:25.080 Yeah, that's just a taste. This thing's a couple of 0:12:25.120 --> 0:12:27.520 minutes long, a lot of grainy images. I think I 0:12:27.559 --> 0:12:29.480 saw a couple of my old colleagues from the Boston 0:12:29.520 --> 0:12:34.320 News business in there. The Herald looming large. And if 0:12:34.320 --> 0:12:36.120 you're with us on ninety two nine, we see you 0:12:37.080 --> 0:12:40.160 because we wanted to get into this testimony today from 0:12:40.160 --> 0:12:42.160 the view of one of these cities. This is big 0:12:42.200 --> 0:12:44.280 local news. You don't need me to tell you that. 0:12:44.720 --> 0:12:46.520 If you're in Boston, if you're in New York, if 0:12:46.559 --> 0:12:50.280 you're in Chicago or Denver. And we have the voice 0:12:50.280 --> 0:12:53.719 of Boston politics with us, the Dean of Boston Politics, 0:12:53.720 --> 0:12:56.960 the great John Keller keleret Large, political analyst at the 0:12:56.960 --> 0:13:00.520 CBS affiliate my alma man Ter wdbz's with us now 0:13:00.600 --> 0:13:05.360 live from the Lawless City of Boston. The dystopian landscape, John, 0:13:05.400 --> 0:13:09.560 I'm picturing burning garbage cans and cars, as you join 0:13:09.640 --> 0:13:12.000 us from the middle of Blade Runner. You know, I 0:13:12.080 --> 0:13:14.120 checked to see if I could get a trailer for 0:13:14.240 --> 0:13:16.520 us here, John, and it's not in the budget. And 0:13:16.559 --> 0:13:18.800 I'm wondering what is the point of this whole exercise. 0:13:20.120 --> 0:13:22.920 Yeah, the only car is being overturned here in Boston 0:13:22.960 --> 0:13:27.200 are after one of our pro sports teams wins another championship. 0:13:27.280 --> 0:13:30.480 Maybe some college students get a little liquored up and 0:13:30.600 --> 0:13:32.000 go overboard. 0:13:31.440 --> 0:13:33.640 But yeah, in in there for that. 0:13:33.960 --> 0:13:35.880 I've been watching this. Go ahead, Joe. 0:13:35.920 --> 0:13:39.320 Sorry, no, I've been there for that. You tell me 0:13:39.400 --> 0:13:41.880 what did you see today? You're watching so our viewers 0:13:41.880 --> 0:13:42.920 and listeners didn't have to. 0:13:44.800 --> 0:13:49.840 Yeah, well, I understand why the Republicans wanted to stage 0:13:49.920 --> 0:13:53.120 this hearing. Gives them a chance to crank up the 0:13:53.200 --> 0:13:57.199 video machine, as you just pointed out, which feeds the 0:13:57.240 --> 0:14:01.400 fervor and the fear in their base. And there's no 0:14:01.600 --> 0:14:08.760 question about it. Immigration and lack of controls over immigration, 0:14:08.960 --> 0:14:13.439 lack of a comprehensive plan, has been a winning political 0:14:13.480 --> 0:14:17.040 issue for the Republicans. Donald Trump has refined it to 0:14:17.160 --> 0:14:19.840 an art form, so I get it. But so far, 0:14:20.120 --> 0:14:23.720 the hearing is a huge dud for the Republicans. You 0:14:23.760 --> 0:14:28.600 know the problem is they've all been salivating ever since 0:14:30.800 --> 0:14:34.720 in December of twenty three when they hauled the three 0:14:34.840 --> 0:14:39.840 college presidents before this oversight committee hearing. Remember Claudine Gay 0:14:40.120 --> 0:14:44.240 from Harvard, the presidents of PAAA MIT and they were 0:14:44.400 --> 0:14:48.800 just turned into mincemeat by the panelists. Well, that's not 0:14:49.040 --> 0:14:52.840 what's going on today, because big city mayors are not 0:14:53.720 --> 0:14:57.200 college presidents. With all due respect to the I'm sure 0:14:57.240 --> 0:15:01.960 many college presidents in your audience, Joe, these mayors know 0:15:02.320 --> 0:15:07.240 how to how to engage in a fight, and they 0:15:07.320 --> 0:15:12.120 came ready. But they really haven't been challenged. In particular. 0:15:12.720 --> 0:15:17.760 Mayor Wu, supposedly presiding over this paradise for rapists, has 0:15:17.840 --> 0:15:22.800 yet to be confronted with any specific evidence of any 0:15:22.880 --> 0:15:29.600 kind of malfeasance attributable to Boston's status as a sanctuary city. 0:15:29.640 --> 0:15:34.720 Time and again, the mayors have been patiently explaining to 0:15:34.960 --> 0:15:43.240 frustrated Republicans that if there's an illegal undocumented immigrant who's 0:15:43.320 --> 0:15:47.560 wanted on a violent crime charge and there's a warrant 0:15:48.120 --> 0:15:52.480 over to ice, they go, no problem, no questions asked, 0:15:52.760 --> 0:15:55.600 and they haven't been able to refute it so so far. 0:15:56.080 --> 0:16:02.280 It's democratic mayors, ten Republicans on the Oversight Committee zero 0:16:02.440 --> 0:16:03.840 and we're only in the third thing. 0:16:04.840 --> 0:16:06.720 All right, Well, let's get a taste of this because 0:16:06.720 --> 0:16:09.480 to your point, John, Michelle wou did come armed with 0:16:09.560 --> 0:16:12.160 actual data when it came to crime rates in the city. 0:16:12.240 --> 0:16:18.280 Let's listen, this federal administration is making hard working, tax paying, 0:16:18.680 --> 0:16:24.520 god fearing residents afraid to live their lives. A city 0:16:24.560 --> 0:16:28.600 that's scared is not a city that's safe. A land 0:16:28.800 --> 0:16:32.720 ruled by fear is not the land of the free. 0:16:32.800 --> 0:16:36.360 Next month, Boston will celebrate two hundred and fifty years 0:16:36.720 --> 0:16:40.200 of our nation's freedom. And in every one of those years, 0:16:40.680 --> 0:16:43.080 Boston has welcomed the world to our shores. 0:16:45.200 --> 0:16:47.560 John. She went on to say that each year she's 0:16:47.600 --> 0:16:51.600 been in office, the murder rate has declined in the 0:16:51.600 --> 0:16:54.520 city of Boston. She came packed with data that argued 0:16:54.560 --> 0:16:57.960 with what some of the Republican committee members were saying. 0:16:58.000 --> 0:17:00.960 I'm curious how this is playing at home, because all 0:17:01.040 --> 0:17:03.920 of these Democratic mayors have one thing in common. They 0:17:03.960 --> 0:17:06.119 held news conferences before they left, and they got a 0:17:06.119 --> 0:17:08.720 lot of local coverage, and most of it was positive. 0:17:08.800 --> 0:17:09.800 Is that the case in Boston? 0:17:11.359 --> 0:17:15.480 Well, I mean as far as today's hearing goes, remains 0:17:15.480 --> 0:17:19.280 to be seen. But I'm going to be commenting on 0:17:19.320 --> 0:17:21.760 this later on our local news, and I guarantee you 0:17:21.840 --> 0:17:24.320 I'm going to give her a good review. And you know, 0:17:24.359 --> 0:17:27.040 I've had my dust ups with Mayor Woo in the past. 0:17:27.080 --> 0:17:30.600 I'm sure we'll have others in the future. But she's 0:17:30.680 --> 0:17:33.320 handling this very well. I mean a tip of the 0:17:33.359 --> 0:17:36.439 cap to the Boston Police Department. They've been doing a 0:17:36.480 --> 0:17:39.399 great job and it shows up in the crime stats, 0:17:39.440 --> 0:17:42.600 which is some of the best for a major American city. 0:17:43.000 --> 0:17:46.560 So there's really no they're there for the Republicans on 0:17:46.600 --> 0:17:51.480 this panel to get a grip on. And I also 0:17:51.680 --> 0:17:54.719 think Jonah this has been kind of interesting. She's the 0:17:54.760 --> 0:17:58.959 only woman on a panel for mayors. They seem reluctant 0:17:59.000 --> 0:18:02.240 to go after her. You know, it's Ash Wednesday. She's 0:18:02.240 --> 0:18:06.080 got the Ash cross on her forehead. And while she's 0:18:06.160 --> 0:18:09.560 generally a sort of a soft spoken person, she has 0:18:09.680 --> 0:18:13.880 come prepared. Her Her body language is good, her voice 0:18:14.320 --> 0:18:18.639 quality is calm, or demeanor is calm and composed. But 0:18:18.960 --> 0:18:20.960 as you heard in that bite, she's got a little 0:18:21.000 --> 0:18:25.200 aggressive with her criticism of the Republican policies. One of 0:18:25.280 --> 0:18:28.719 the quick things Joe. In the run up to this, 0:18:29.359 --> 0:18:32.920 Mayor Wu and local advocates been making a big issue 0:18:32.920 --> 0:18:37.919 of the impact of the deportations and the ice, the 0:18:38.280 --> 0:18:43.600 increased ice activity on local businesses. Businesses that cater to 0:18:43.640 --> 0:18:49.359 the immigrant community's restaurants, pizza joints, you name it. These 0:18:49.480 --> 0:18:54.680 places are struggling. They're deserted because many immigrants are afraid 0:18:54.720 --> 0:18:58.920 to go out. So I know you've interviewed the US 0:18:59.040 --> 0:19:02.760 Chamber of Commerceville so many times about their concerns about 0:19:02.800 --> 0:19:06.560 mass deportation. I thought I heard James Comer, the chairman 0:19:06.640 --> 0:19:08.719 of this committee, at one point say, oh, well, there 0:19:08.800 --> 0:19:12.560 is no mass deportation. Maybe I misheard that, but if 0:19:12.560 --> 0:19:15.760 he did say it, maybe that indicates a rising level 0:19:15.800 --> 0:19:20.080 of concern in Republican circles about how all this is playing, 0:19:20.320 --> 0:19:22.639 at least within the business community. 0:19:23.680 --> 0:19:26.399 Spending time with John Keller on Balance of Powerful only 0:19:26.440 --> 0:19:27.720 got a couple of minutes left. John, I want to 0:19:27.720 --> 0:19:29.800 ask you about what appears to be that the dust 0:19:29.840 --> 0:19:32.080 up locally. You can tell me. Josh Kraft, who's of 0:19:32.119 --> 0:19:37.560 course challenging Michelle Wou was tweeting on X do we 0:19:37.600 --> 0:19:40.159 need to spend six hundred and fifty thousand dollars a 0:19:40.240 --> 0:19:43.960 taxpayer funds on a show trial hearing. There's a story 0:19:44.400 --> 0:19:47.320 that she spent as much money on an outside law 0:19:47.359 --> 0:19:49.439 firm to prepare for this. Is that true and what 0:19:49.480 --> 0:19:50.199 do you know about it? 0:19:50.920 --> 0:19:55.000 Apparently it's true. Nine hundred dollars an hour this law 0:19:55.040 --> 0:19:58.480 firm charges, And of course my immediate reaction, Joe, was 0:19:58.840 --> 0:19:59.760 what am I doing in this? 0:20:01.440 --> 0:20:02.159 No kidding? 0:20:02.200 --> 0:20:05.879 Why didn't I get into that racket? But while the 0:20:06.040 --> 0:20:09.320 six hundred and fifty thousand dollars figure, which was confirmed 0:20:09.400 --> 0:20:12.280 by the city that they've spent in six weeks of 0:20:12.359 --> 0:20:18.159 prep for today's hearing is an eye popping figure, it 0:20:18.400 --> 0:20:21.480 sort of looks so far like money well spent. As 0:20:21.520 --> 0:20:24.560 I say, Mayor Wu is knocking it out of the park. 0:20:25.320 --> 0:20:28.680 We put in a call for comment to Josh Kraft 0:20:28.800 --> 0:20:33.119 to who's her most significant challenger so far, it'd be 0:20:33.119 --> 0:20:36.040 interesting to see if he even wants to talk about it. 0:20:36.080 --> 0:20:38.120 That's how well it's going for Michelle Wu. 0:20:39.640 --> 0:20:41.800 Amazing, I've only got a minute left, John, you're going 0:20:41.840 --> 0:20:43.520 to be talking about I know you're already writing about 0:20:43.520 --> 0:20:46.040 it on the website. The big speech last night. Was 0:20:46.040 --> 0:20:48.960 that a win for Donald Trump? We saw a number 0:20:49.000 --> 0:20:53.800 of folks recoil from the Democratic delegation in Massachusetts. I 0:20:53.840 --> 0:20:55.879 believe it was Jim McGovern said he would rather have 0:20:55.960 --> 0:20:57.840 needles in his eyeballs than sit through that. 0:21:00.200 --> 0:21:02.359 I'm sure that could be arranged if he wants to 0:21:02.440 --> 0:21:09.159 talk to Tom Holman's the ice guy. But you know 0:21:09.359 --> 0:21:13.119 it was it was a win in the sense of, 0:21:13.520 --> 0:21:20.360 you're basically speaking uncontested. You know, the cutaways of Democrats 0:21:20.359 --> 0:21:23.680 holding up lame little signs. That's not going to move 0:21:23.720 --> 0:21:27.960 the needle for them. So the Trump basse, I'm sure 0:21:28.080 --> 0:21:29.800 loved it. Catnet for them. 0:21:30.920 --> 0:21:32.600 I don't think it hurts the. 0:21:32.520 --> 0:21:35.320 Democratic bait to get a full. 0:21:37.160 --> 0:21:40.480 Of the Trump is now a political rally apparently. Hey John, 0:21:40.480 --> 0:21:42.880 thank you as always the great John Keller, a great 0:21:42.920 --> 0:21:45.840 friend of the program. Keller at Large Busy in Boston 0:21:45.880 --> 0:21:48.640 will keep tabs on the hearing for you and assimilar panel. Next, 0:21:48.640 --> 0:21:49.360 This is Bloomberg. 0:21:52.680 --> 0:21:56.160 You're listening to the Bloomberg Balance of Power podcast. Catch 0:21:56.240 --> 0:21:59.280 us live weekdays at noon and five pm Eastern on 0:21:59.400 --> 0:22:02.480 Half o'cock and Android Otto with the Bloomberg Business Up. 0:22:02.800 --> 0:22:06.040 Listen on demand wherever you get your podcasts or watch 0:22:06.119 --> 0:22:08.639 us live on YouTube. 0:22:09.160 --> 0:22:12.320 Looks like we have breaking news on this matter, Kayley, 0:22:12.440 --> 0:22:15.199 and look no further than truth social Donald Trump so 0:22:15.240 --> 0:22:18.040 frequently making the announcement on social media, why hold an event? 0:22:18.200 --> 0:22:20.640 Justin Trudeau of Canada called me to ask what could 0:22:20.680 --> 0:22:22.520 be done about tariffs. I told him many people have 0:22:22.560 --> 0:22:25.760 died from fentanyl came through the borders of Canada and Mexico, 0:22:26.680 --> 0:22:29.000 and nothing has convinced me that it has stopped. Is 0:22:29.040 --> 0:22:31.199