1 00:00:01,480 --> 00:00:06,239 Speaker 1: Why from our nation's camera. How do we reopen this economy? 2 00:00:06,320 --> 00:00:09,440 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:09,560 --> 00:00:12,560 Speaker 1: does this do for the United States relationship with China? 4 00:00:12,720 --> 00:00:17,640 Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're 5 00:00:17,680 --> 00:00:20,840 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:21,000 --> 00:00:24,520 Speaker 1: never before. We're looking at seventy Kennedys for different ductines. 7 00:00:24,600 --> 00:00:27,280 Speaker 1: How do we make sure a pandemic of this sale 8 00:00:27,320 --> 00:00:31,400 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:31,480 --> 00:00:35,920 Speaker 1: Surrel on Bloomberg and one oh five point seven FM 10 00:00:36,080 --> 00:00:43,320 Speaker 1: HD two. Pennsylvania issues a mask mandate, a mask mandate 11 00:00:43,520 --> 00:00:47,680 Speaker 1: and US cases rise one eight percent. The latest in 12 00:00:47,800 --> 00:00:52,000 Speaker 1: terms of what's going on COVID nineteen and the U 13 00:00:52,080 --> 00:00:56,720 Speaker 1: S readying sanctions on China overwrights abuses against the wagers 14 00:00:57,480 --> 00:01:00,200 Speaker 1: in Shinjiang. So we're gonna get the latest on out 15 00:01:00,200 --> 00:01:04,160 Speaker 1: front as well. And Tom Keene and Company's exclusive interview 16 00:01:04,160 --> 00:01:06,880 Speaker 1: with John Bolton. What did he have to say about 17 00:01:06,959 --> 00:01:10,679 Speaker 1: Joe Biden. I'll tell you lots to get through. And 18 00:01:10,760 --> 00:01:14,480 Speaker 1: Trump continuing to dismiss the Russian bounty intelligence reports as 19 00:01:14,520 --> 00:01:17,520 Speaker 1: a quote unquote hoax. Stock markets are doing all right. 20 00:01:17,600 --> 00:01:22,240 Speaker 1: Stocks rise with nasdact at record on vac scene. Hope hope, 21 00:01:22,280 --> 00:01:25,560 Speaker 1: I like optimism. Who has cases rise one point eight percent? 22 00:01:25,640 --> 00:01:31,240 Speaker 1: And p A is mandating the mask this as well. 23 00:01:31,680 --> 00:01:34,320 Speaker 1: States are closing down again. But that's what we're gonna 24 00:01:34,319 --> 00:01:36,920 Speaker 1: dive into coming up on later into the program with 25 00:01:37,040 --> 00:01:40,640 Speaker 1: our all star political panel. But first let's get a 26 00:01:40,720 --> 00:01:43,800 Speaker 1: check of the economy with our first guest. Because some 27 00:01:43,840 --> 00:01:45,920 Speaker 1: big news happened. It's U S m C A Day. 28 00:01:46,200 --> 00:01:48,120 Speaker 1: I know it's something we haven't talked about in a while, 29 00:01:48,960 --> 00:01:51,559 Speaker 1: but Stephen Vaughan, who is the former U s TR 30 00:01:51,720 --> 00:01:55,840 Speaker 1: General Council, is joining us on the line. Uh, and Steve, 31 00:01:55,880 --> 00:01:57,920 Speaker 1: and I appreciate your time. U S m C a Day. 32 00:01:58,400 --> 00:02:01,400 Speaker 1: This was the trade deal that was never gonna happen, 33 00:02:01,480 --> 00:02:04,800 Speaker 1: and then it happened. Well, thank you for having me 34 00:02:04,880 --> 00:02:07,240 Speaker 1: on UM. I was General Council of U s t 35 00:02:07,400 --> 00:02:09,800 Speaker 1: R when when we were doing these negotiations, I always 36 00:02:09,800 --> 00:02:12,480 Speaker 1: thought it would happen, and I'm very glad that it did. 37 00:02:13,120 --> 00:02:14,840 Speaker 1: And so what does it mean in terms of the 38 00:02:14,880 --> 00:02:19,119 Speaker 1: first steps for especially some of these battleground states Iowa 39 00:02:19,520 --> 00:02:23,239 Speaker 1: that uh, you know, Michigan, Wisconsin. What's U s m 40 00:02:23,280 --> 00:02:26,160 Speaker 1: c A going to do for them? So let's take Michigan, right. 41 00:02:26,240 --> 00:02:29,280 Speaker 1: I mean, if you look at the numbers before President 42 00:02:29,280 --> 00:02:32,799 Speaker 1: Trump was elected, eleven of the last twelve auto assembly 43 00:02:32,880 --> 00:02:36,400 Speaker 1: companies and UH facilities in North America were built in Mexico. 44 00:02:36,960 --> 00:02:39,160 Speaker 1: U s m c A does a lot to address 45 00:02:39,520 --> 00:02:43,600 Speaker 1: those outsourcing of auto jobs and to encourage auto production 46 00:02:43,680 --> 00:02:46,080 Speaker 1: at home. So a lot of people are gonna benefit 47 00:02:46,200 --> 00:02:48,799 Speaker 1: from that. With respect to farmers, U s m c 48 00:02:49,000 --> 00:02:52,560 Speaker 1: A gives us more access to the Canadian market than 49 00:02:52,600 --> 00:02:54,640 Speaker 1: we had before. A lot of the things that you 50 00:02:54,720 --> 00:02:58,320 Speaker 1: probably remember a couple of years ago, UH controversies over 51 00:02:58,480 --> 00:03:01,280 Speaker 1: unfiltered milk and and some of those things, that's all 52 00:03:01,360 --> 00:03:04,600 Speaker 1: been resolved. And then third, just very quickly, we have 53 00:03:04,680 --> 00:03:09,359 Speaker 1: a great new surge of rules to protect our intellectual property, 54 00:03:09,600 --> 00:03:12,440 Speaker 1: our digital trade are e commerce, So all the high 55 00:03:12,440 --> 00:03:15,040 Speaker 1: tech sectors of the economy are going to really benefit 56 00:03:15,080 --> 00:03:17,000 Speaker 1: for this new deal. You can take your time. We've 57 00:03:17,040 --> 00:03:19,639 Speaker 1: got plenty of time. And you're you're the guy who 58 00:03:19,680 --> 00:03:22,640 Speaker 1: helped craft this. I mean literally, folks, we talked about 59 00:03:22,639 --> 00:03:26,640 Speaker 1: trade policy every single day on this program, whether it's China, 60 00:03:26,680 --> 00:03:30,280 Speaker 1: whether it's Mexico, Canada, now Europe increasingly, and Stephen Vaughan 61 00:03:30,560 --> 00:03:33,399 Speaker 1: is really one of the people in the room who 62 00:03:33,440 --> 00:03:37,520 Speaker 1: crafted the U. S m c A deal. I want 63 00:03:37,560 --> 00:03:44,440 Speaker 1: to ask you in terms of implementation for American workers. 64 00:03:44,520 --> 00:03:47,240 Speaker 1: Let's focus on the auto sector for example, because there 65 00:03:47,280 --> 00:03:49,600 Speaker 1: was a lot of controversies you know about what percentage 66 00:03:49,600 --> 00:03:51,680 Speaker 1: of parts was going to be made where what counts 67 00:03:51,720 --> 00:03:53,880 Speaker 1: as an American part? But what does it mean for 68 00:03:53,920 --> 00:03:58,040 Speaker 1: the average guy or gal working in the auto factories 69 00:03:58,120 --> 00:04:01,160 Speaker 1: outside of Detroit. So what the U. S m c 70 00:04:01,320 --> 00:04:04,200 Speaker 1: A does is um every time you have a trade deal, 71 00:04:04,440 --> 00:04:06,920 Speaker 1: you have what's called a rule of origins. You have 72 00:04:07,040 --> 00:04:10,560 Speaker 1: to satisfy that rule in order to get the benefits 73 00:04:10,560 --> 00:04:13,160 Speaker 1: of the trade deal. So what the U. S m 74 00:04:13,200 --> 00:04:16,960 Speaker 1: c A does is it raises the requirements for those 75 00:04:17,040 --> 00:04:20,080 Speaker 1: rules of origin. In order to take advantage of the 76 00:04:20,520 --> 00:04:24,480 Speaker 1: tariff free trade between Mexico and the United States or 77 00:04:24,480 --> 00:04:28,719 Speaker 1: between Canada the United States, a higher percentage of those 78 00:04:29,200 --> 00:04:33,520 Speaker 1: goods needs to be produced in high wage parts of 79 00:04:33,560 --> 00:04:37,200 Speaker 1: North America, which means the United States or you know, 80 00:04:37,320 --> 00:04:41,279 Speaker 1: and so you're going to see more pressure put on 81 00:04:41,440 --> 00:04:45,240 Speaker 1: companies to invest in this country. Keep jobs here, keep 82 00:04:45,240 --> 00:04:48,240 Speaker 1: production here, and that was one of the major things 83 00:04:48,240 --> 00:04:50,880 Speaker 1: that the President really wanted out of the deal. All right, 84 00:04:51,000 --> 00:04:53,160 Speaker 1: And and folks, just so you know, I mean, this 85 00:04:53,240 --> 00:04:55,560 Speaker 1: is someone who we're talking with you. He's now at 86 00:04:55,600 --> 00:04:58,640 Speaker 1: King and Spaulding, and he UM has worked on a 87 00:04:58,720 --> 00:05:04,880 Speaker 1: host of different trade different types of UM UH trading 88 00:05:04,960 --> 00:05:07,280 Speaker 1: riemans as it relates. And I do want to ask 89 00:05:07,279 --> 00:05:08,880 Speaker 1: you about U. S. M c A. But you know, 90 00:05:09,200 --> 00:05:12,000 Speaker 1: I cannot let you off the line without asking you 91 00:05:12,040 --> 00:05:15,919 Speaker 1: about China in terms of the current UH dynamic that 92 00:05:15,920 --> 00:05:18,599 Speaker 1: we have with China as it is right now. How 93 00:05:18,640 --> 00:05:21,919 Speaker 1: has Hong Kong and what's happened in the last twenty 94 00:05:21,920 --> 00:05:25,400 Speaker 1: four hours or forty eight hours now UM impacted the 95 00:05:25,520 --> 00:05:30,520 Speaker 1: US China trade relationship from your worldview? Well, I think UM. 96 00:05:30,560 --> 00:05:33,640 Speaker 1: You know, foreign policy always ends up playing a role 97 00:05:33,680 --> 00:05:37,880 Speaker 1: in trade policy. UM. And as Americans have grown more 98 00:05:37,960 --> 00:05:42,840 Speaker 1: concerned about the foreign policy aspects of the relationship, that 99 00:05:42,839 --> 00:05:45,360 Speaker 1: that's going to have an impact on the trade policy 100 00:05:45,480 --> 00:05:49,000 Speaker 1: aspects of the relationship. So we have a Phase one 101 00:05:49,000 --> 00:05:51,680 Speaker 1: trade deal with China right now. I know U. S. 102 00:05:51,720 --> 00:05:54,800 Speaker 1: T R. Believe that's a great deal, and I think 103 00:05:54,839 --> 00:05:57,440 Speaker 1: it's a very good deal, and I think they're hoping 104 00:05:57,440 --> 00:05:59,480 Speaker 1: that China is going to comply and they're gonna do 105 00:05:59,520 --> 00:06:02,560 Speaker 1: what they can to make sure that China does comply. Um. 106 00:06:02,680 --> 00:06:06,760 Speaker 1: But anytime you have these type of non trade factors, 107 00:06:07,120 --> 00:06:11,200 Speaker 1: it can sometimes have an impact on trading relationships. And 108 00:06:11,240 --> 00:06:14,039 Speaker 1: as we look at U, S M c A through 109 00:06:14,080 --> 00:06:16,440 Speaker 1: the vacuum, we can't look at it through a vacuum. 110 00:06:16,480 --> 00:06:19,240 Speaker 1: You know, you've got the Europeans now trying to pressure us, 111 00:06:19,240 --> 00:06:22,200 Speaker 1: You've got China obviously what's been going on with them. 112 00:06:22,279 --> 00:06:26,080 Speaker 1: So I from it, should people be breathing a sigh 113 00:06:26,160 --> 00:06:27,919 Speaker 1: relief at U, S M c A got done, that 114 00:06:27,960 --> 00:06:31,599 Speaker 1: it's been being implemented, or is this just the beginning 115 00:06:31,640 --> 00:06:34,560 Speaker 1: in terms of what the work has to be done 116 00:06:34,560 --> 00:06:37,320 Speaker 1: in terms of sorting out these trade agreements. Well, I 117 00:06:37,360 --> 00:06:39,880 Speaker 1: think what you're what you've seen over the last few 118 00:06:39,960 --> 00:06:42,120 Speaker 1: years is there's been kind of a hole of government 119 00:06:42,480 --> 00:06:45,760 Speaker 1: effort to reform a lot of our economic policy. We 120 00:06:45,800 --> 00:06:49,360 Speaker 1: had new tax code, we had new tax reductions, We've 121 00:06:49,360 --> 00:06:51,680 Speaker 1: had a lot of regulatory changes, and we've got a 122 00:06:51,680 --> 00:06:54,960 Speaker 1: lot of changes happening in trade. The relationship with Mexico 123 00:06:55,000 --> 00:06:58,160 Speaker 1: and Canada is enormously important to the United States. They 124 00:06:58,200 --> 00:07:01,240 Speaker 1: are two of our biggest trading partners. They're probably always 125 00:07:01,279 --> 00:07:03,480 Speaker 1: going to be two of our biggest trading partners. So 126 00:07:03,560 --> 00:07:07,920 Speaker 1: getting that deal right, taking an old agreement that literally 127 00:07:08,160 --> 00:07:11,560 Speaker 1: pre existed the Internet and bringing it into the modern 128 00:07:11,600 --> 00:07:14,880 Speaker 1: age and addressing a lot of these concerns about fairness 129 00:07:14,920 --> 00:07:18,160 Speaker 1: for workers, that's a huge breakthrough. So now here in 130 00:07:18,200 --> 00:07:21,520 Speaker 1: North America we have a world class agreement. It's going 131 00:07:21,560 --> 00:07:24,720 Speaker 1: to benefit all three countries. It's gonna be good for workers, 132 00:07:25,040 --> 00:07:27,560 Speaker 1: and that gives you a solid base for when you 133 00:07:27,600 --> 00:07:29,440 Speaker 1: go out and negotiate with the rest of the world. 134 00:07:30,200 --> 00:07:32,000 Speaker 1: All right, I think we're gonna leave it there. Stephen 135 00:07:32,040 --> 00:07:35,679 Speaker 1: Bond he is the former U S Trade Representatives General 136 00:07:35,720 --> 00:07:39,920 Speaker 1: Counsel and he served and helped negotiate that United States 137 00:07:40,040 --> 00:07:43,560 Speaker 1: and Mexico Canada agreement. That's the U S. M c 138 00:07:43,920 --> 00:07:46,600 Speaker 1: A and folks, you know, I can't so thank you 139 00:07:46,640 --> 00:07:48,400 Speaker 1: Stephen for for coming on now. He's a king and 140 00:07:48,520 --> 00:07:52,720 Speaker 1: Spalding and he has worked on virtually every single major 141 00:07:53,560 --> 00:07:56,520 Speaker 1: trade agreement as it relates to China, as it relates 142 00:07:56,560 --> 00:07:59,000 Speaker 1: to Europe. He's been in the background of that the 143 00:07:59,120 --> 00:08:00,960 Speaker 1: U S. Court of Internet Sational Trade, the U S. 144 00:08:01,000 --> 00:08:03,720 Speaker 1: Court of Appeals for the Federal Circuit, I mean, NAFTA. 145 00:08:03,920 --> 00:08:06,080 Speaker 1: This guy knows everything about trade. And coming up, we're 146 00:08:06,080 --> 00:08:09,360 Speaker 1: gonna continue to talk about China, Hong Kong and whatnot. 147 00:08:09,480 --> 00:08:13,560 Speaker 1: And earlier today I spoke with the under Secretary of 148 00:08:14,120 --> 00:08:16,840 Speaker 1: Economic Affairs at the State's Department, Keith Croc. He's been 149 00:08:16,840 --> 00:08:20,280 Speaker 1: on the show before and um, and I was asking 150 00:08:20,280 --> 00:08:23,120 Speaker 1: about Hong Kong. I was asking him about the economic policies. 151 00:08:23,160 --> 00:08:28,560 Speaker 1: But increasingly, folks, it's not just trade that has the 152 00:08:28,640 --> 00:08:31,640 Speaker 1: United States, not Democrats, not Republicans, with the United States 153 00:08:31,680 --> 00:08:35,600 Speaker 1: as a whole their deal. It's really increasingly also becoming 154 00:08:35,600 --> 00:08:40,360 Speaker 1: about protecting the US supply chain and protecting allies supply chains. 155 00:08:40,920 --> 00:08:45,200 Speaker 1: UH and agreements that when there are the funnels of 156 00:08:45,280 --> 00:08:49,040 Speaker 1: trade and commerce, that the supply chains, both cyber as 157 00:08:49,080 --> 00:08:52,080 Speaker 1: well as brick and mortar supply chains are going to 158 00:08:52,120 --> 00:08:54,920 Speaker 1: be protected. And that I think, you know, based upon 159 00:08:55,000 --> 00:08:56,880 Speaker 1: talking to people like Keith as well as some other 160 00:08:56,920 --> 00:08:59,360 Speaker 1: folks on the left, that is something that I think 161 00:08:59,400 --> 00:09:03,200 Speaker 1: is now in recently going to be the shadow or 162 00:09:03,320 --> 00:09:08,000 Speaker 1: the background UH and will color the trade agreements all right, 163 00:09:08,040 --> 00:09:10,920 Speaker 1: coming up on the program. We're gonna talk twenty with 164 00:09:10,960 --> 00:09:19,680 Speaker 1: Wendy Wallace, with Jennifer Nessaur and others. Right now, let's 165 00:09:19,760 --> 00:09:21,840 Speaker 1: keep it here. I'm Kevin Silei, Chief Washed the correspondent 166 00:09:21,840 --> 00:09:30,679 Speaker 1: Floomberg d In Radio, and you're listening to Bloomberg. This 167 00:09:30,960 --> 00:09:36,200 Speaker 1: is Bloomberg's Sound On with Kevin Surreley on Bloomberg and 168 00:09:36,240 --> 00:09:38,480 Speaker 1: one oh five point seven f m h D two. 169 00:09:39,080 --> 00:09:43,560 Speaker 1: US stocks rose as positive vaccine developments and better than 170 00:09:43,640 --> 00:09:49,439 Speaker 1: expected manufacturing data tempered concern over a jump in Corona 171 00:09:49,760 --> 00:09:54,520 Speaker 1: virus cases. I'm Kevin Curreli, Chief Washington correspondent from Bloomberg 172 00:09:54,640 --> 00:09:59,200 Speaker 1: Television and Bloomberg Radio. I'm reading from Rita Nazareth and 173 00:09:59,240 --> 00:10:03,000 Speaker 1: Sarah punch X reporting on the Bloomberg terminal. The SMP 174 00:10:03,120 --> 00:10:05,960 Speaker 1: five hundred rows for a third day well then ASDAK 175 00:10:06,040 --> 00:10:10,440 Speaker 1: Composite jumped to a record as an early trial of 176 00:10:10,480 --> 00:10:14,920 Speaker 1: an experimental shot from Fiser and bio n Tech SCS 177 00:10:14,960 --> 00:10:19,280 Speaker 1: showed that it's safe and prompted patients to produce antibodies. 178 00:10:20,160 --> 00:10:21,840 Speaker 1: Have you had the anybody test? By the way, has 179 00:10:21,880 --> 00:10:25,400 Speaker 1: anyone else had the antibody test? You know? I've had it. 180 00:10:26,320 --> 00:10:30,040 Speaker 1: Um alright. Our next guest to talk about the economy 181 00:10:30,600 --> 00:10:33,520 Speaker 1: is someone who knows a thing or two about the economy, 182 00:10:33,600 --> 00:10:38,320 Speaker 1: Kip Iidelberg. He is the Association of Equipment Manufacturers Senior 183 00:10:38,440 --> 00:10:42,080 Speaker 1: Vice president. Kip. How are you doing well, Kevin? Thanks 184 00:10:42,080 --> 00:10:44,480 Speaker 1: for having me on the show so you have anytime 185 00:10:44,559 --> 00:10:46,600 Speaker 1: you have a new survey on the effects of the 186 00:10:46,600 --> 00:10:49,280 Speaker 1: COVID nine team pandemic on the economy. Well, today, the 187 00:10:49,320 --> 00:10:51,520 Speaker 1: economy looks to be doing pretty well if you look 188 00:10:51,559 --> 00:10:54,480 Speaker 1: at the market. What did your survey find? Well, I 189 00:10:54,559 --> 00:10:57,400 Speaker 1: certainly hope that today's US is a sign of good 190 00:10:57,400 --> 00:11:00,760 Speaker 1: things to come. But as our survey indicates, Kevin, equipment 191 00:11:00,800 --> 00:11:04,199 Speaker 1: manufacturers continue to face decreased demand, stressed supply chains, and 192 00:11:04,440 --> 00:11:07,920 Speaker 1: unfortunately the industry has a long and road back to normal. 193 00:11:08,040 --> 00:11:10,360 Speaker 1: And let me give you a quick example, if I may, 194 00:11:10,440 --> 00:11:14,600 Speaker 1: from our survey, for those equipment manufacturers who have furloughed employees, 195 00:11:14,679 --> 00:11:16,720 Speaker 1: nearly a third said they would not bring them back 196 00:11:16,760 --> 00:11:20,400 Speaker 1: to work, and for those laid off workers, eight out 197 00:11:20,400 --> 00:11:22,960 Speaker 1: of ten that's said they will not re hire them 198 00:11:23,000 --> 00:11:25,600 Speaker 1: based on current market conditions. So well, we have seen 199 00:11:25,640 --> 00:11:28,320 Speaker 1: some improvement since our last survey. That pictures still pretty 200 00:11:28,320 --> 00:11:30,920 Speaker 1: grim for the industry, Kevin, What are the sectors that 201 00:11:30,960 --> 00:11:34,200 Speaker 1: are going to be hardest hit? Well, if you look 202 00:11:34,240 --> 00:11:38,400 Speaker 1: at our industry on the construction and mining side, we 203 00:11:38,600 --> 00:11:41,880 Speaker 1: tend to see a slightly more negative impact than on 204 00:11:41,960 --> 00:11:44,440 Speaker 1: the agriculture side. Obviously, part of that has to do 205 00:11:44,480 --> 00:11:47,120 Speaker 1: with the fact that you know, farmers are out there planting. 206 00:11:47,200 --> 00:11:48,760 Speaker 1: They need to plan so they can harvest, so we 207 00:11:48,800 --> 00:11:50,920 Speaker 1: can put food on the table. So by and large 208 00:11:51,200 --> 00:11:54,679 Speaker 1: those manufacturers who make agriculture equipment have done it might 209 00:11:54,760 --> 00:11:58,120 Speaker 1: be better than construction and mining so far this year. 210 00:11:58,600 --> 00:12:02,320 Speaker 1: What about in terms of any bright spots, any bright 211 00:12:02,360 --> 00:12:07,280 Speaker 1: spots or anything for optimism that the survey found. Well, 212 00:12:07,520 --> 00:12:10,160 Speaker 1: I think there's there's there's one spot of optimism, and 213 00:12:10,200 --> 00:12:13,079 Speaker 1: I think there's one opportunity. So obviously on the optimism 214 00:12:13,080 --> 00:12:15,840 Speaker 1: in front. You know, our industry was designated as essential 215 00:12:15,920 --> 00:12:20,040 Speaker 1: early on, which which kept manufacturers open and on the top. Obviously, 216 00:12:20,080 --> 00:12:22,760 Speaker 1: health and well being of two million and women of 217 00:12:22,800 --> 00:12:25,520 Speaker 1: our industry has always been the number one priority and 218 00:12:25,559 --> 00:12:27,400 Speaker 1: continues to be. But the fact that we have stayed 219 00:12:27,440 --> 00:12:30,240 Speaker 1: open I think has put us in a position, uh, 220 00:12:30,400 --> 00:12:32,560 Speaker 1: you know, ahead of certain other industries that have been 221 00:12:32,640 --> 00:12:34,719 Speaker 1: harder hit in terms of having to shut down and 222 00:12:35,200 --> 00:12:38,800 Speaker 1: in terms of obviously the one thing that continues to 223 00:12:38,840 --> 00:12:40,959 Speaker 1: be a drag for our industry's lack of demands for 224 00:12:41,040 --> 00:12:43,640 Speaker 1: new equipment. I think that's where the federal government has 225 00:12:43,679 --> 00:12:47,160 Speaker 1: an opportunity, both in terms of a passing a federal 226 00:12:47,240 --> 00:12:49,599 Speaker 1: infrastructure bill and and today there's a key vote in 227 00:12:49,640 --> 00:12:52,960 Speaker 1: the House of Representatives, but also I gotta tell you, Kennon, 228 00:12:53,000 --> 00:12:54,960 Speaker 1: there is a there's a very new crisis at the 229 00:12:54,960 --> 00:12:56,920 Speaker 1: state and local level, as much as a five hundred 230 00:12:56,920 --> 00:13:00,559 Speaker 1: billion dollar shortfall more than seven hundred cities of critically 231 00:13:00,559 --> 00:13:04,240 Speaker 1: infrastructure projects. So if the federal government can step in 232 00:13:04,320 --> 00:13:06,920 Speaker 1: and bridge that gap, I think we'll see as demands 233 00:13:06,920 --> 00:13:09,880 Speaker 1: when new equipment start to rise, and will have equipment 234 00:13:09,880 --> 00:13:12,000 Speaker 1: manufacturers to bring some of those furlough and laid off 235 00:13:12,000 --> 00:13:15,880 Speaker 1: workers back. Kip Iderbergh's on the line. He's the Association 236 00:13:16,080 --> 00:13:19,959 Speaker 1: of Equipment Manufacturers Senior vice president. They've got this new 237 00:13:20,000 --> 00:13:24,240 Speaker 1: survey out that really talks about manufacturers and equipment manufacturers 238 00:13:24,240 --> 00:13:27,120 Speaker 1: and how they're handling this. You talk about the supply chain, 239 00:13:27,160 --> 00:13:29,760 Speaker 1: and I want to keep this thread throughout the show 240 00:13:29,800 --> 00:13:32,640 Speaker 1: today on the importance of protecting the supply chain, because 241 00:13:32,640 --> 00:13:34,440 Speaker 1: when I talked to Keith crock in the State's department, 242 00:13:34,960 --> 00:13:37,840 Speaker 1: the domestic supply chain and the international supply chain obviously, 243 00:13:38,080 --> 00:13:40,679 Speaker 1: but the domestic supply chain here in the United States 244 00:13:40,679 --> 00:13:43,880 Speaker 1: also needs to be better protected. So when I was 245 00:13:43,920 --> 00:13:46,040 Speaker 1: reviewing for the show and I was looking at the survey, 246 00:13:46,559 --> 00:13:49,720 Speaker 1: one of the biggest issues facing equipment manufacturers as they 247 00:13:49,800 --> 00:13:54,480 Speaker 1: reopened their facilities is continued supply chain issues. What are 248 00:13:54,520 --> 00:13:56,640 Speaker 1: some of those issues and does it include protecting it 249 00:13:56,679 --> 00:14:00,080 Speaker 1: not just from the coronavirus COVID nineteen, but all so 250 00:14:00,200 --> 00:14:04,360 Speaker 1: from national security from a national security perspective, Yeah, it does. 251 00:14:04,520 --> 00:14:06,400 Speaker 1: It's a great question, Kevin, and so I think it's 252 00:14:06,440 --> 00:14:09,000 Speaker 1: it's you know two things here right. Number one, you know, 253 00:14:09,000 --> 00:14:11,560 Speaker 1: you're absolutely right about how critical supply chains are. And 254 00:14:11,600 --> 00:14:13,959 Speaker 1: in fact, you know, one of the concerns of our 255 00:14:13,960 --> 00:14:16,120 Speaker 1: industry right now is obviously we worry about some of 256 00:14:16,120 --> 00:14:18,800 Speaker 1: the equipment manufacturers, the O E M, you know, not 257 00:14:18,960 --> 00:14:22,080 Speaker 1: being around come the fall as results of the economic downturn. 258 00:14:22,160 --> 00:14:26,000 Speaker 1: But even more troublesome is that a lot of the suppliers, 259 00:14:26,040 --> 00:14:29,520 Speaker 1: many of them small, medium sized domestic suppliers, are not 260 00:14:29,560 --> 00:14:32,400 Speaker 1: going to be around. That's where we're seeing a lot 261 00:14:32,480 --> 00:14:34,480 Speaker 1: of the pain right now. And if they are not around, 262 00:14:35,000 --> 00:14:37,480 Speaker 1: when do you cannot like when the economy comes back, Kevin, 263 00:14:37,680 --> 00:14:40,200 Speaker 1: and when demand comes back, Well, those equipment manufacturers are 264 00:14:40,200 --> 00:14:42,320 Speaker 1: not going to have the parts of components they need 265 00:14:42,720 --> 00:14:45,760 Speaker 1: to start churning out equipment. So shoring up supply chain 266 00:14:45,840 --> 00:14:48,040 Speaker 1: is critical for that for that from that point of view. 267 00:14:48,280 --> 00:14:50,920 Speaker 1: But to your your question about you know, shoring up 268 00:14:50,960 --> 00:14:54,640 Speaker 1: the supply chain overall at the point of national security, Look, 269 00:14:54,720 --> 00:14:57,840 Speaker 1: you know, equipment manufacturers, it's a global industry and and 270 00:14:57,880 --> 00:15:00,000 Speaker 1: we have supply chains. Are members do that stretch up 271 00:15:00,040 --> 00:15:03,040 Speaker 1: cross the the world on a certainly today with the 272 00:15:03,680 --> 00:15:05,880 Speaker 1: with the U. S n Skate coming into force, you know, 273 00:15:05,920 --> 00:15:08,800 Speaker 1: it's a good it's a good reminder of the interconnectedness 274 00:15:08,840 --> 00:15:11,720 Speaker 1: of the United States in the Mexico. So that's good news. 275 00:15:11,760 --> 00:15:15,880 Speaker 1: But obviously having local suppliers is also critical, and so 276 00:15:15,920 --> 00:15:17,560 Speaker 1: I think we what we need to do is we 277 00:15:17,600 --> 00:15:20,600 Speaker 1: need to make sure that they can be competitive moving 278 00:15:20,640 --> 00:15:22,800 Speaker 1: forward and that they can stay in business. And I 279 00:15:22,800 --> 00:15:25,600 Speaker 1: think that's both immediate short term support from the federal 280 00:15:25,640 --> 00:15:27,760 Speaker 1: government in terms of the Page of Protection program and 281 00:15:27,800 --> 00:15:30,600 Speaker 1: the main street lending program, but also making sure that 282 00:15:30,760 --> 00:15:34,680 Speaker 1: you know, we gotta protect them against the increasingly global environment, 283 00:15:34,760 --> 00:15:38,080 Speaker 1: right right, Thank yeah, Kip. I gotta I gotta ask 284 00:15:38,080 --> 00:15:40,240 Speaker 1: you this because you mentioned it. Kip Bidenberg, he's on 285 00:15:40,280 --> 00:15:42,480 Speaker 1: the line. He's an s v P. He's an s 286 00:15:42,560 --> 00:15:45,040 Speaker 1: v P at a E M. But not to get 287 00:15:45,040 --> 00:15:48,360 Speaker 1: too much in the alphabet, Soup keeps the Association of 288 00:15:48,400 --> 00:15:51,720 Speaker 1: Equipment Manufacturers Senior vice president, so they're at all the 289 00:15:51,800 --> 00:15:55,880 Speaker 1: equipment manufacturers. You mentioned something that that you're hopeful for, 290 00:15:56,080 --> 00:15:58,440 Speaker 1: that you want, and I gotta be honest, I don't 291 00:15:58,440 --> 00:15:59,840 Speaker 1: know if it's going to happen in the fall, but 292 00:16:00,000 --> 00:16:03,280 Speaker 1: everybody's talking about it, the next round of economic stimulus. 293 00:16:03,600 --> 00:16:06,480 Speaker 1: And now you've got bo Joe Boris Johnson over in 294 00:16:06,560 --> 00:16:11,480 Speaker 1: the UK passing some what was infrastructure the eye word 295 00:16:11,680 --> 00:16:16,280 Speaker 1: infrastructure to provide some economic stimulus. And here's a conservative 296 00:16:16,640 --> 00:16:20,160 Speaker 1: global world leader who is quite controversial even in his 297 00:16:20,200 --> 00:16:23,320 Speaker 1: own country. Whether you'll you'll you love him or loath them. 298 00:16:23,360 --> 00:16:27,320 Speaker 1: But I'm curious, is that the potential road map Kip 299 00:16:27,400 --> 00:16:31,240 Speaker 1: for President Trump ahead of November three, forget the election 300 00:16:31,240 --> 00:16:37,840 Speaker 1: for a second, to get infrastructure done come the fall. Absolutely, 301 00:16:37,920 --> 00:16:44,400 Speaker 1: Kevin one. Well, you know, the best way to get 302 00:16:44,400 --> 00:16:48,320 Speaker 1: the economy roaring again is to help shore up manufacturing 303 00:16:48,320 --> 00:16:50,040 Speaker 1: in the US. Is the best way to do that 304 00:16:50,280 --> 00:16:52,760 Speaker 1: is to invest in our infrastructure. Let's rebuild our roads 305 00:16:52,760 --> 00:16:55,320 Speaker 1: and bridges, Let's put American back to work, and let's 306 00:16:55,320 --> 00:16:58,080 Speaker 1: strengthen our economy. That's the way to do it. All right, 307 00:16:58,160 --> 00:17:00,960 Speaker 1: We're gonna leave it there. Kip Bidenburg is Asociation of 308 00:17:01,000 --> 00:17:04,760 Speaker 1: Equipment Manufacturer Senior vice President, talking all things on their 309 00:17:04,840 --> 00:17:07,679 Speaker 1: new survey and a course on infrastructure. I don't know, folks, 310 00:17:07,960 --> 00:17:09,280 Speaker 1: The jury is still out on the left in the 311 00:17:09,359 --> 00:17:11,720 Speaker 1: right whether or not there's consensus to get something so 312 00:17:11,840 --> 00:17:15,680 Speaker 1: monumental pass before November three. We'll find out, and we'll 313 00:17:15,680 --> 00:17:18,159 Speaker 1: be talking about it. Coming up next we talk. I'm 314 00:17:18,200 --> 00:17:20,840 Speaker 1: Kevin Cereli, chief Ashington correspondent for Bloomberg TV and Radio, 315 00:17:20,880 --> 00:17:32,800 Speaker 1: and you're listening to Bloomberg. This is Bloomberg's Sound On 316 00:17:33,080 --> 00:17:37,440 Speaker 1: with Kevin Surreley on Bloomberg and one oh five point 317 00:17:37,520 --> 00:17:41,359 Speaker 1: seven f M HD two. I'm Kevin Surreally, chief Washington 318 00:17:41,400 --> 00:17:44,320 Speaker 1: correspondent for Bloomberg Television and for Bloomberg Radio. And some 319 00:17:44,440 --> 00:17:49,440 Speaker 1: breaking news the US House of Representatives passed the unanimous 320 00:17:49,440 --> 00:17:54,160 Speaker 1: a unanimous consent uh I apologize. The U S House 321 00:17:54,200 --> 00:17:58,679 Speaker 1: of Representative passed by unanimous consent a bill imposing sanctions 322 00:17:58,720 --> 00:18:01,600 Speaker 1: on banks that do business with Chinese officials involved in 323 00:18:01,640 --> 00:18:06,360 Speaker 1: cracking down on pro democracy protesters in Hong Kong. The bill, 324 00:18:06,400 --> 00:18:08,920 Speaker 1: which is similar but not identical to a measure past 325 00:18:09,000 --> 00:18:11,840 Speaker 1: by the Senate last week, would have to be approved 326 00:18:11,840 --> 00:18:14,680 Speaker 1: by the Senate before going to President Trump for a signature. 327 00:18:14,960 --> 00:18:17,320 Speaker 1: And of course this comes, folks, as a response to 328 00:18:17,359 --> 00:18:21,080 Speaker 1: the Chinese Communist Party and acting a strict new national 329 00:18:21,119 --> 00:18:25,439 Speaker 1: security law for Hong Kong, many lawmakers said, violated the 330 00:18:25,440 --> 00:18:29,440 Speaker 1: government's promise to honor the autonomy of the former British colony. 331 00:18:29,520 --> 00:18:33,919 Speaker 1: That's Daniel Flatley reporting on the Bloomberg terminal as the 332 00:18:34,000 --> 00:18:38,400 Speaker 1: world turns. Wendy Wallace is a democratic strategist and deputy 333 00:18:38,520 --> 00:18:44,120 Speaker 1: executive director at the Democratic Governors Association. Wendy, how are 334 00:18:44,119 --> 00:18:49,359 Speaker 1: you I'm doing? Are you? I can't complain? Look it 335 00:18:49,400 --> 00:18:53,840 Speaker 1: looks like you know, there appears to be a nonpartisan 336 00:18:53,920 --> 00:18:56,679 Speaker 1: issue in the side of Washington, d C. And that 337 00:18:56,800 --> 00:19:02,280 Speaker 1: support for Hong Kong am I wrong, um I hope 338 00:19:02,320 --> 00:19:06,639 Speaker 1: you're not wrong. Um. I you know, it's rare that 339 00:19:06,720 --> 00:19:09,840 Speaker 1: you see a non part is an issue inside of DC. 340 00:19:10,560 --> 00:19:14,240 Speaker 1: Were really outside of DC these days. So that's that's 341 00:19:14,240 --> 00:19:18,080 Speaker 1: a positive thing if we can find it. Alright. So, meanwhile, 342 00:19:18,640 --> 00:19:22,520 Speaker 1: you've got so much going on with the Russia bounty situation. 343 00:19:22,880 --> 00:19:26,040 Speaker 1: President Trump, for his part, has said nothing to see here, 344 00:19:26,160 --> 00:19:29,520 Speaker 1: there's nothing going on. He's blamed the leaks and saying 345 00:19:29,520 --> 00:19:31,280 Speaker 1: that they were not brought to his attention. Do you 346 00:19:31,320 --> 00:19:34,080 Speaker 1: think that this Wendy is going to shake up the 347 00:19:34,200 --> 00:19:37,720 Speaker 1: race in any way? I mean, I think people are 348 00:19:38,000 --> 00:19:42,480 Speaker 1: paying attention, and what we need are really straight answers 349 00:19:42,560 --> 00:19:46,080 Speaker 1: coming out of the Trump administration on who knew what 350 00:19:46,359 --> 00:19:51,040 Speaker 1: about intelligence and when they knew it, and clear answers 351 00:19:51,600 --> 00:19:55,119 Speaker 1: on how we will continue to protect the members of 352 00:19:55,119 --> 00:19:59,280 Speaker 1: our military are at a minimum, what the voters and 353 00:19:59,320 --> 00:20:03,320 Speaker 1: the American people deserve. So I think, particularly in the 354 00:20:03,359 --> 00:20:06,520 Speaker 1: context of the race, people are paying attention and are 355 00:20:06,560 --> 00:20:10,960 Speaker 1: looking for those answers. Okay, So earlier today, my colleagues 356 00:20:11,080 --> 00:20:18,080 Speaker 1: on Bloomberg Surveillance, Tom Keane, Jonathan paraoh, Lisa Bramowitz, they interviewed, 357 00:20:18,400 --> 00:20:23,680 Speaker 1: they interviewed, uh, former National Security Advisor John Bolton, particularly 358 00:20:23,720 --> 00:20:27,080 Speaker 1: about this issue, on the issue of whether or not 359 00:20:27,240 --> 00:20:31,040 Speaker 1: John Bolton himself had briefed the president on the Russia bounties. 360 00:20:31,440 --> 00:20:33,719 Speaker 1: You know, he got that book out the man inside 361 00:20:33,720 --> 00:20:36,119 Speaker 1: of the room, inside of the oval. But did he 362 00:20:36,280 --> 00:20:40,240 Speaker 1: brief the president on this issue of the Russian bounties. 363 00:20:40,440 --> 00:20:42,840 Speaker 1: Take a listen to what John Bolton had to say here. 364 00:20:42,840 --> 00:20:46,240 Speaker 1: It is what it tells the Russians is we are 365 00:20:46,280 --> 00:20:49,960 Speaker 1: in disarray, uh and uh and ripe for this kind 366 00:20:50,000 --> 00:20:53,840 Speaker 1: of provocation, not just in Afghanistan but in many, many 367 00:20:53,840 --> 00:20:56,879 Speaker 1: other places around the world. So what he is He 368 00:20:56,960 --> 00:21:00,480 Speaker 1: declined to say whether or not uh, he had briefed 369 00:21:00,480 --> 00:21:03,040 Speaker 1: the president on the Russia bounties, but he kept talking 370 00:21:03,040 --> 00:21:07,040 Speaker 1: about this, this notion of chaos coming from a foreign 371 00:21:07,040 --> 00:21:12,960 Speaker 1: policy perspective from the United States. Is Joe Biden. Can 372 00:21:13,040 --> 00:21:15,760 Speaker 1: he get away with just saying that he would restore 373 00:21:15,920 --> 00:21:19,119 Speaker 1: order and not go into the details of what a 374 00:21:19,160 --> 00:21:23,440 Speaker 1: Biden presidency would look like in terms of the actual 375 00:21:23,880 --> 00:21:27,560 Speaker 1: intricacies of foreign policy. There's a headline literally within the 376 00:21:27,640 --> 00:21:30,240 Speaker 1: last half hour that crossed the Bloomberg terminal Wendy that 377 00:21:30,320 --> 00:21:32,720 Speaker 1: says that he would issue sanctions. He would be open 378 00:21:32,800 --> 00:21:35,960 Speaker 1: to sanctioning Chinese officials. But Wendy, are we going to 379 00:21:36,040 --> 00:21:39,120 Speaker 1: hear some policy details or is it kind of just, hey, 380 00:21:39,160 --> 00:21:41,720 Speaker 1: you know what, let Trump trip over himself. Sorry, I 381 00:21:41,760 --> 00:21:45,679 Speaker 1: mean I think that you know, there has been no 382 00:21:45,880 --> 00:21:49,760 Speaker 1: shortage of lack of leadership coming out of the Trump 383 00:21:49,800 --> 00:21:53,119 Speaker 1: administration in this moment, and I think it creates a 384 00:21:53,160 --> 00:21:57,479 Speaker 1: great opportunity for the Biden campaign to really flex their 385 00:21:57,560 --> 00:22:02,679 Speaker 1: muscles and talk about his history, um, particularly in the 386 00:22:02,720 --> 00:22:05,840 Speaker 1: realm of foreign policy, and to show what they would do, 387 00:22:06,560 --> 00:22:09,400 Speaker 1: you know, if given the rain, so that the American 388 00:22:09,440 --> 00:22:12,080 Speaker 1: people can make an informed decision. Well, what do you 389 00:22:12,119 --> 00:22:15,600 Speaker 1: think he has to do, Wendy, Um. I think everyone 390 00:22:15,680 --> 00:22:19,400 Speaker 1: likes to hear specifics. However, it is hard to know 391 00:22:19,520 --> 00:22:23,640 Speaker 1: what you'll do in the job until you're fully in there. Um. 392 00:22:23,680 --> 00:22:26,560 Speaker 1: But you know, in this instance, he can talk about 393 00:22:26,600 --> 00:22:29,320 Speaker 1: how he would have liked to have been informed and 394 00:22:29,400 --> 00:22:32,520 Speaker 1: what his actions would have been with a threat to 395 00:22:32,640 --> 00:22:36,680 Speaker 1: our our military personnel. Wendy, what do you think Let's 396 00:22:36,680 --> 00:22:38,360 Speaker 1: switch gears. What do you think who should you pick 397 00:22:38,400 --> 00:22:43,960 Speaker 1: for vice president? Oh? Come on, Kevin, me on the spot. 398 00:22:44,040 --> 00:22:48,679 Speaker 1: There are a lot of highly, highly qualified, uh, women 399 00:22:48,720 --> 00:22:51,720 Speaker 1: in the Democratic Party that any one of whom would 400 00:22:51,720 --> 00:22:54,720 Speaker 1: make a great vice president. Like who come on, Wendy, 401 00:22:54,720 --> 00:22:58,800 Speaker 1: who who do you like? I like them all? They 402 00:22:58,840 --> 00:23:01,080 Speaker 1: all have really like all of the people who are 403 00:23:01,080 --> 00:23:05,240 Speaker 1: making discussed on UM the shortlist right now have great qualities. 404 00:23:05,280 --> 00:23:09,480 Speaker 1: I am, of course very partial to UM Democratic governors, 405 00:23:09,520 --> 00:23:11,720 Speaker 1: as you said earlier, and so I would love to 406 00:23:11,760 --> 00:23:14,080 Speaker 1: see him take a governor. Who are some of the 407 00:23:14,119 --> 00:23:16,080 Speaker 1: governors on the shortlist, because well we always hear about 408 00:23:16,119 --> 00:23:18,800 Speaker 1: Kamala Harrison val demis. Who are some of the governors 409 00:23:18,840 --> 00:23:23,240 Speaker 1: that are on the shortlist UM people I have heard 410 00:23:23,280 --> 00:23:29,680 Speaker 1: discussed Governor Gretchen Whitmer out of Michigan, UM Governor Michelle 411 00:23:29,760 --> 00:23:32,920 Speaker 1: Louhan Grisham out of New Mexico, both of whom would 412 00:23:33,000 --> 00:23:36,639 Speaker 1: make amazing choices, all right. And meanwhile, when we talk 413 00:23:36,680 --> 00:23:38,239 Speaker 1: about today's U S, M C D and I want 414 00:23:38,280 --> 00:23:40,520 Speaker 1: to get the Democratic response to this, folks, because we 415 00:23:40,640 --> 00:23:44,200 Speaker 1: heard from the conservative UM ideological approach, especially in a 416 00:23:44,240 --> 00:23:47,760 Speaker 1: state like Michigan where trade policy is so incredibly crucial. Uh. 417 00:23:47,800 --> 00:23:51,679 Speaker 1: Wendy Wallace, democratic strategist and deputy executive director at the 418 00:23:51,680 --> 00:23:57,479 Speaker 1: Democratic Governor's Association Wendy. I mean, Michigan is, as you know, 419 00:23:57,720 --> 00:24:01,480 Speaker 1: ground zero for for trade policy, and so how how 420 00:24:01,640 --> 00:24:03,639 Speaker 1: is an issue like trade going to play especially for 421 00:24:03,640 --> 00:24:06,080 Speaker 1: some of these independent voters who go back and forth 422 00:24:06,119 --> 00:24:08,280 Speaker 1: in a state like Michigan, in a state like Wisconsin 423 00:24:08,600 --> 00:24:11,399 Speaker 1: from who voted for President Obama and then voted for 424 00:24:11,440 --> 00:24:13,919 Speaker 1: President Trump. You know, these are gonna these folks are 425 00:24:13,920 --> 00:24:16,639 Speaker 1: going to decide the election and so on on a 426 00:24:16,880 --> 00:24:19,040 Speaker 1: thing like U S m c A, which the President 427 00:24:19,040 --> 00:24:22,800 Speaker 1: had campaigned on. That's a crucial economic message. So if 428 00:24:23,000 --> 00:24:26,879 Speaker 1: if President Trump in sixteen campaigned and said absolutely no 429 00:24:26,960 --> 00:24:29,680 Speaker 1: more nafta, Absolutely no more nafta, here's U S m 430 00:24:29,760 --> 00:24:33,560 Speaker 1: c A. Joe Biden had embraced NAFTA, what's the Democrats 431 00:24:33,640 --> 00:24:36,919 Speaker 1: message going to be in response to that argument in 432 00:24:37,080 --> 00:24:42,119 Speaker 1: that battleground state of Michigan. I mean, look, what's important 433 00:24:42,240 --> 00:24:47,080 Speaker 1: to voters in Michigan and across the country or that 434 00:24:47,160 --> 00:24:49,320 Speaker 1: they are going to that their jobs are going to 435 00:24:49,359 --> 00:24:51,439 Speaker 1: be securing that they're going to have great jobs and 436 00:24:51,440 --> 00:24:54,680 Speaker 1: can put food on the table for their families. Um, 437 00:24:54,720 --> 00:24:58,879 Speaker 1: And what we have seen from Democrats across the board, 438 00:24:58,920 --> 00:25:03,280 Speaker 1: but particularly in some of these states that Democratic governors 439 00:25:03,280 --> 00:25:08,919 Speaker 1: were able to win UM in and twenty nineteen. We 440 00:25:09,000 --> 00:25:12,240 Speaker 1: know what the playbook is. UM. We have to keep 441 00:25:12,480 --> 00:25:16,560 Speaker 1: our commitment to fundamental issues that voters care about for 442 00:25:16,600 --> 00:25:21,520 Speaker 1: their families, like healthcare, education, jobs. These are the things 443 00:25:21,520 --> 00:25:25,199 Speaker 1: that are important. If you are talking about things that 444 00:25:25,240 --> 00:25:30,960 Speaker 1: are being perceived as creating jobs, UM, then you will 445 00:25:30,960 --> 00:25:34,400 Speaker 1: win in these these really all important states. And that's 446 00:25:34,440 --> 00:25:37,200 Speaker 1: what we're going to see in what's going on in 447 00:25:37,240 --> 00:25:39,359 Speaker 1: Pennsylvania with Governor Wolf because he's getting sued by the 448 00:25:39,400 --> 00:25:42,040 Speaker 1: Republican state legislator and they just you know, I mean 449 00:25:42,080 --> 00:25:44,280 Speaker 1: that that's such a key battleground state. The polls have 450 00:25:44,359 --> 00:25:48,399 Speaker 1: Biden leading there significantly. Obviously he's headquartered in Philadelphia, his 451 00:25:48,480 --> 00:25:51,280 Speaker 1: campaign is But for Governor Wolf, I mean this, this 452 00:25:51,320 --> 00:25:53,960 Speaker 1: has been fascinating to watch the tug of war, the 453 00:25:53,960 --> 00:25:57,000 Speaker 1: political tug of war between Democrats and Republicans there in 454 00:25:57,040 --> 00:26:00,399 Speaker 1: that state. Yeah, I mean, I think it'd be sickly 455 00:26:00,480 --> 00:26:03,760 Speaker 1: comes down to will people be able to have access 456 00:26:03,800 --> 00:26:07,520 Speaker 1: to the ballot And what Governor Wolf Um and Democrats 457 00:26:07,600 --> 00:26:10,040 Speaker 1: in the state of Pennsylvania want to do is increased 458 00:26:10,080 --> 00:26:13,520 Speaker 1: access to the ballot UM through voting by mail and 459 00:26:13,560 --> 00:26:18,200 Speaker 1: through all these other measures, and their Republican opposition really 460 00:26:18,240 --> 00:26:21,800 Speaker 1: wants to make it harder for people to vote. Alright, 461 00:26:21,800 --> 00:26:24,520 Speaker 1: we're gonna leave it there. Wendy Wallace, who has been 462 00:26:24,560 --> 00:26:27,960 Speaker 1: so generous with her time, Democratic Strategists and deputy executive 463 00:26:28,000 --> 00:26:31,919 Speaker 1: director at the Democratic Governors Association, Come back anytime, Wendy. 464 00:26:31,920 --> 00:26:35,200 Speaker 1: We appreciate that. Remember, folks, you can download the Bloomberg 465 00:26:35,280 --> 00:26:39,000 Speaker 1: Sound On podcast on Apple iTunes, at Bloomberg dot com, 466 00:26:39,160 --> 00:26:43,000 Speaker 1: or by downloading the Bloomberg Business app. You can also 467 00:26:43,080 --> 00:26:47,480 Speaker 1: find me on Radio dot com, I Heart Radio, and Spotify. 468 00:26:48,000 --> 00:26:50,680 Speaker 1: It's been a very busy day here in Washington, d C. 469 00:26:51,200 --> 00:26:55,119 Speaker 1: President Trump has vowed to veto a defense bill to 470 00:26:55,359 --> 00:26:59,920 Speaker 1: keep the Confederate base names. President Donald Trump has threatened 471 00:26:59,920 --> 00:27:02,440 Speaker 1: to vito the entire defense bill if it contains a 472 00:27:02,520 --> 00:27:05,440 Speaker 1: provision that would strip the names of Confederate generals from 473 00:27:05,480 --> 00:27:08,520 Speaker 1: US military basis. Hey, who was that amendment introduced by folks? 474 00:27:09,080 --> 00:27:13,440 Speaker 1: Senator Elizabeth Warren, the Democrat the Massachusetts Coming up next 475 00:27:13,480 --> 00:27:16,760 Speaker 1: me check in with the Republicans and talk. I'm Kevin Sirelli. 476 00:27:16,800 --> 00:27:39,000 Speaker 1: You're listening to Bloomberg. This is Bloomberg Sound On with 477 00:27:39,080 --> 00:27:43,520 Speaker 1: Kevin Surreley on Bloomberg and one oh five point seven 478 00:27:43,600 --> 00:27:46,560 Speaker 1: f M h D two is everybody gonna do for 479 00:27:46,600 --> 00:27:50,280 Speaker 1: the Fourth of July? We're allowed to watch fireworks this year. 480 00:27:50,320 --> 00:27:54,520 Speaker 1: I'm Kevin SURREALI, Chief Washington correspondent for Bloomberg Television and 481 00:27:54,560 --> 00:27:57,000 Speaker 1: for Bloomberg Radio. Make sure you do one thing tonight. 482 00:27:57,800 --> 00:28:01,520 Speaker 1: Uh and go subscribe to Bloomberg Surveillance on Bloomberg Radio. 483 00:28:01,560 --> 00:28:04,720 Speaker 1: It's available on all of the different streaming platforms and 484 00:28:04,800 --> 00:28:08,040 Speaker 1: whatnot if you're not already subscribing to Bloomberg Sound on 485 00:28:08,680 --> 00:28:13,520 Speaker 1: and um and listen to Lisa, John and Tom's interview 486 00:28:13,520 --> 00:28:15,720 Speaker 1: with John Bolton, because it really is interesting. It goes 487 00:28:15,760 --> 00:28:19,439 Speaker 1: beyond the clickbait culture of the moment and dives into 488 00:28:19,480 --> 00:28:22,639 Speaker 1: the policies. Uh. And it's really really well done. And 489 00:28:23,000 --> 00:28:27,159 Speaker 1: Tom asks, as always brilliant questions with a historical tint 490 00:28:27,840 --> 00:28:31,119 Speaker 1: uh And and you really get a fascinating perspective on 491 00:28:31,320 --> 00:28:35,920 Speaker 1: US foreign policy, not just conservative ideology, but also progressive 492 00:28:35,920 --> 00:28:38,600 Speaker 1: ideology on foreign policy, dating back all the way to 493 00:28:38,840 --> 00:28:42,320 Speaker 1: Bury Goldwater Days in a way that only Tom Keane can. 494 00:28:42,480 --> 00:28:46,080 Speaker 1: So make sure to check that out if you can. 495 00:28:46,880 --> 00:28:51,280 Speaker 1: Joining us on the line is someone who is a 496 00:28:51,320 --> 00:28:54,640 Speaker 1: Republican strategist. Uh, and we are thrilled to have her, 497 00:28:55,680 --> 00:29:01,240 Speaker 1: uh back on. Her name is Jennifer Now, sir, and Jennifer, 498 00:29:01,280 --> 00:29:02,560 Speaker 1: thank you so much for coming on. And she's a 499 00:29:02,560 --> 00:29:05,720 Speaker 1: Republican strategist, former chairwoman of the Massachusetts Republican Party and 500 00:29:05,840 --> 00:29:12,240 Speaker 1: founder for Conservative Women for a Better Future. How are you, Jen? Jen? 501 00:29:14,560 --> 00:29:22,280 Speaker 1: Generation there she disconnected. Let's see if we can get her, Kevin, 502 00:29:22,360 --> 00:29:25,440 Speaker 1: It's almost Friday. Here's a reminder, I have off Friday. 503 00:29:27,320 --> 00:29:31,120 Speaker 1: We wait to get Jen back on the line. Let's go. 504 00:29:31,880 --> 00:29:34,760 Speaker 1: Let's go through some of the other headlines of the day. 505 00:29:34,840 --> 00:29:37,680 Speaker 1: The China sanctions bill on Hong Kong Law was passed 506 00:29:37,680 --> 00:29:39,880 Speaker 1: by the U. S. House, and there was some there 507 00:29:39,960 --> 00:29:42,520 Speaker 1: was some disagreement about whether or not that was actually 508 00:29:42,520 --> 00:29:46,280 Speaker 1: going to advance. They're out of the House of Representative, Uh, 509 00:29:46,280 --> 00:29:48,240 Speaker 1: and whether or not President Trump is gonna sign it. 510 00:29:48,240 --> 00:29:50,959 Speaker 1: It's gonna have to go back to the Senate in 511 00:29:51,120 --> 00:29:56,400 Speaker 1: order for it to be reconciled. And UH, it's then 512 00:29:56,560 --> 00:29:58,719 Speaker 1: the President is going to be facing an enormous amount 513 00:29:59,040 --> 00:30:01,000 Speaker 1: of pressure to sign the in the law just given 514 00:30:01,080 --> 00:30:07,840 Speaker 1: the ideological spectrum uh that folks have on it, and 515 00:30:08,360 --> 00:30:10,080 Speaker 1: you know, I would imagine that he's going to have 516 00:30:10,160 --> 00:30:12,920 Speaker 1: to to sign that into law. Barada. Do we have Jen? 517 00:30:13,480 --> 00:30:17,600 Speaker 1: She's there, jenerally there. I am here, Thank you, Jenn. 518 00:30:17,640 --> 00:30:20,040 Speaker 1: I thought you left me hanging. I thought, come on, come, 519 00:30:20,400 --> 00:30:23,120 Speaker 1: you got two more shows to the weekend. Jen, what's 520 00:30:23,120 --> 00:30:26,520 Speaker 1: going on? You know what? I thought? He just didn't 521 00:30:26,560 --> 00:30:31,880 Speaker 1: want to Republican from Massachusetts? Wow? Thet kidding? I'm kidding. Hey, 522 00:30:31,960 --> 00:30:34,920 Speaker 1: before we talk politics, I gotta ask it. Cam Newton, hush, 523 00:30:35,000 --> 00:30:37,480 Speaker 1: shaking things up up there. I never like Tom Brady 524 00:30:37,800 --> 00:30:40,760 Speaker 1: as a football player. I don't know him personally, but 525 00:30:40,920 --> 00:30:43,280 Speaker 1: you know I thought he cheated quite frankly. Anyway, what's 526 00:30:43,320 --> 00:30:47,640 Speaker 1: going on with Cam? It's exciting. I think it will 527 00:30:47,640 --> 00:30:51,200 Speaker 1: shake up the Patriots a little bit, and it's gonna inject, 528 00:30:51,400 --> 00:30:55,440 Speaker 1: you know, a little excitement into Boston's into Massachusetts sports. 529 00:30:55,440 --> 00:30:57,920 Speaker 1: Super exciting. Well, you know, I'm an Eagles fan and 530 00:30:57,920 --> 00:31:00,560 Speaker 1: I hope you guys lose every game. But what can say? Jen? 531 00:31:00,760 --> 00:31:04,960 Speaker 1: What did I say? All right? Republican presidential politics, let's go. 532 00:31:05,040 --> 00:31:07,720 Speaker 1: We talked to a Democrat. She was saying that it's 533 00:31:07,720 --> 00:31:10,360 Speaker 1: all shoeing for Biden. Why is not it a shoe 534 00:31:10,360 --> 00:31:14,360 Speaker 1: in for Joe Biden. Um. Well, okay, So here's the 535 00:31:14,480 --> 00:31:19,720 Speaker 1: funny part about campaigns. Campaign one on one, you actually 536 00:31:19,760 --> 00:31:25,480 Speaker 1: need to campaign. They can't. If you can't paigne Jen, Jen, 537 00:31:25,560 --> 00:31:28,560 Speaker 1: you gotta be socially distant. You can't have the rallies. 538 00:31:28,640 --> 00:31:30,160 Speaker 1: Come on, I mean, you gotta be you gotta wear 539 00:31:30,160 --> 00:31:36,040 Speaker 1: the mask. Go ahead, you should probably come out number one, 540 00:31:36,240 --> 00:31:40,200 Speaker 1: You should come out of your basement. Okay, what is 541 00:31:40,240 --> 00:31:44,880 Speaker 1: the president? What? Okay? So that's the headline on the 542 00:31:44,960 --> 00:31:48,400 Speaker 1: drug report tonight, which is Trump and Biden fight over 543 00:31:48,440 --> 00:31:50,800 Speaker 1: who's more senile? And it links to my friend Margaret 544 00:31:50,800 --> 00:31:53,400 Speaker 1: Tullive over at Axios's report. So that, I mean, we 545 00:31:53,440 --> 00:31:55,840 Speaker 1: say it with humor, but it's actually an issue in 546 00:31:55,880 --> 00:31:59,640 Speaker 1: this in this race. But seriously, truthfully, what does the 547 00:31:59,640 --> 00:32:01,840 Speaker 1: president didn't have to do? It's a it's a firm 548 00:32:01,920 --> 00:32:04,520 Speaker 1: up some of the polling numbers in these battleground states. 549 00:32:06,200 --> 00:32:12,240 Speaker 1: So honestly, leadership is everything, right, and so the president 550 00:32:12,320 --> 00:32:15,600 Speaker 1: has some awesome opportunities right now to go out and 551 00:32:15,640 --> 00:32:19,560 Speaker 1: to show some leadership and to make people feel like 552 00:32:20,000 --> 00:32:23,280 Speaker 1: there's someone in control. It's like having kids, you know, 553 00:32:23,520 --> 00:32:26,920 Speaker 1: kids go wild if there are no parents around to 554 00:32:27,000 --> 00:32:28,840 Speaker 1: put them in place and to tell them what the 555 00:32:28,920 --> 00:32:32,120 Speaker 1: rules are. And so that's what the president needs to do. 556 00:32:32,200 --> 00:32:35,000 Speaker 1: He needs to go. He needs have conversations the best 557 00:32:35,040 --> 00:32:38,240 Speaker 1: things that might be uncomfortable, whether it's be all of 558 00:32:38,280 --> 00:32:42,080 Speaker 1: the racial tensions that we're seeing, whether it's um the 559 00:32:42,120 --> 00:32:46,600 Speaker 1: reports on Russia right now, whether it's COVID. I mean, 560 00:32:46,720 --> 00:32:49,800 Speaker 1: you know, see him talking about wearing a mask. That's great. 561 00:32:49,920 --> 00:32:53,200 Speaker 1: We need a lot more of that. And I think 562 00:32:53,560 --> 00:32:57,040 Speaker 1: if he can show that he can actually lead and 563 00:32:57,120 --> 00:33:00,240 Speaker 1: not just in sight, that will help him a lot well. 564 00:33:00,320 --> 00:33:02,640 Speaker 1: And also, you know, you have to go to COVID 565 00:33:02,760 --> 00:33:06,560 Speaker 1: areas with places that are seeing resurgences, like Florida where 566 00:33:06,560 --> 00:33:09,480 Speaker 1: people are elderly, and I think, you know, if he 567 00:33:09,520 --> 00:33:12,880 Speaker 1: could make them feel like they're not going to all die, um, 568 00:33:13,000 --> 00:33:16,000 Speaker 1: that would be helpful too well. I mean, and and 569 00:33:16,040 --> 00:33:19,840 Speaker 1: it's it's a really delicate conversation to have, but you 570 00:33:19,840 --> 00:33:22,200 Speaker 1: know you've framed it Jenna saying, you know, look at 571 00:33:22,200 --> 00:33:24,800 Speaker 1: all the opportunities. What do you say to folks who say, 572 00:33:24,880 --> 00:33:28,200 Speaker 1: what this this chaotic summer? Because I think one of 573 00:33:28,240 --> 00:33:30,680 Speaker 1: the things that independent voters swing voters when you look 574 00:33:30,720 --> 00:33:32,840 Speaker 1: at the cross tabs of these poles every poll has 575 00:33:32,880 --> 00:33:37,600 Speaker 1: been regardless of who, even if they're undecided, but regardless, 576 00:33:37,600 --> 00:33:40,920 Speaker 1: they just want for the country to take a political 577 00:33:41,040 --> 00:33:44,800 Speaker 1: deep breath. They just want some calm. They want some normalcy, 578 00:33:45,000 --> 00:33:48,400 Speaker 1: not just on in the markets, but literally in their cities. 579 00:33:48,520 --> 00:33:51,240 Speaker 1: You know, they want to be able to catch their breath. 580 00:33:51,280 --> 00:33:53,040 Speaker 1: And I think you touched on that when you were 581 00:33:53,040 --> 00:33:57,280 Speaker 1: talking about some of the senior citizens, especially down in Florida, uh, 582 00:33:57,360 --> 00:34:00,000 Speaker 1: and especially given how the senior citizen vote has really 583 00:34:00,000 --> 00:34:02,880 Speaker 1: they've been moving toward Biden. I'm not one of those 584 00:34:02,920 --> 00:34:05,120 Speaker 1: people who's going to say that it's over, because I've 585 00:34:05,120 --> 00:34:08,799 Speaker 1: covered enough races to know that it's incredibly early and 586 00:34:08,880 --> 00:34:11,520 Speaker 1: these things change on a dime. Biden has not been 587 00:34:11,520 --> 00:34:15,760 Speaker 1: out in front of the national microphones, but I haven't 588 00:34:15,800 --> 00:34:18,719 Speaker 1: really noticed. I mean, can President Trump and checked that 589 00:34:18,840 --> 00:34:24,120 Speaker 1: level of calmness into his administration or would that be 590 00:34:24,160 --> 00:34:30,040 Speaker 1: a misstep. Well, I mean, he hasn't done a fabulous 591 00:34:30,120 --> 00:34:32,880 Speaker 1: job of doing that so far, and so you know, 592 00:34:32,920 --> 00:34:35,480 Speaker 1: with all the shakeups, quite honestly, and you know, so 593 00:34:35,640 --> 00:34:38,480 Speaker 1: it is a little concerning. So can he do it? 594 00:34:39,640 --> 00:34:42,239 Speaker 1: He's got to want to do it. He's if he 595 00:34:42,400 --> 00:34:45,640 Speaker 1: wants to win another term, he does need to reach 596 00:34:45,719 --> 00:34:48,400 Speaker 1: those voters. And I'll tell you, I live in a city. 597 00:34:48,480 --> 00:34:51,919 Speaker 1: I live in Boston, and it's really quiet, and it's 598 00:34:52,040 --> 00:34:56,200 Speaker 1: really eerie, and it would be nice to feel like 599 00:34:57,160 --> 00:35:00,880 Speaker 1: the economy is really going to come back, that people 600 00:35:00,920 --> 00:35:03,239 Speaker 1: aren't going to be on edge all the time. And 601 00:35:03,280 --> 00:35:06,439 Speaker 1: if you look at the older voters and you look 602 00:35:06,440 --> 00:35:09,400 Speaker 1: at these places where they did feel some comfort and 603 00:35:09,440 --> 00:35:13,879 Speaker 1: now they're not feeling that anymore. Um. I think that 604 00:35:13,960 --> 00:35:16,759 Speaker 1: if he can get himself to a point where you 605 00:35:17,200 --> 00:35:21,000 Speaker 1: really can show some compassion to folks who are scared 606 00:35:21,120 --> 00:35:23,279 Speaker 1: right now, it will it will help him and go 607 00:35:23,320 --> 00:35:26,000 Speaker 1: a long way. His base is always his base. They're 608 00:35:26,000 --> 00:35:29,160 Speaker 1: always going to be fiery and excited when they see him. 609 00:35:29,440 --> 00:35:32,359 Speaker 1: But he has to win those swing voters. He's got 610 00:35:32,360 --> 00:35:35,920 Speaker 1: to win the Massachusetts Republican I mean seriously, because that Massachusetts. 611 00:35:35,920 --> 00:35:39,400 Speaker 1: But I'm serious. They're a bit more independent probably on 612 00:35:39,480 --> 00:35:43,920 Speaker 1: certain issues, more what what Democrats were there are more progressive, um, 613 00:35:44,000 --> 00:35:48,000 Speaker 1: And and those are the suburbanite voters. Am I wrong? No, 614 00:35:48,239 --> 00:35:51,040 Speaker 1: it's so that's exactly it. I mean, you know, if 615 00:35:51,080 --> 00:35:55,640 Speaker 1: you it's maybe it's it's it's something that you just 616 00:35:55,640 --> 00:35:58,480 Speaker 1: get programmed as when you're a New England Republican. But 617 00:35:58,960 --> 00:36:02,040 Speaker 1: you kind of think, okay, if every independent around the 618 00:36:02,040 --> 00:36:05,600 Speaker 1: country thinks, how I do um, which you know, we're 619 00:36:05,600 --> 00:36:11,720 Speaker 1: we're more fiscally responsible, more fiscally conservative, and more socially liberal. 620 00:36:12,160 --> 00:36:14,600 Speaker 1: And so if you say, I would say socially American, 621 00:36:14,760 --> 00:36:19,600 Speaker 1: but go ahead right exactly more socially American. And so 622 00:36:19,760 --> 00:36:21,799 Speaker 1: you know, if you look at well, people are not 623 00:36:21,920 --> 00:36:24,200 Speaker 1: so concerned about you know, independent voters are not so 624 00:36:24,239 --> 00:36:26,680 Speaker 1: concerned about the social juice. But what they are concerned 625 00:36:26,680 --> 00:36:29,720 Speaker 1: about is where is the country going, what's the future 626 00:36:29,760 --> 00:36:32,440 Speaker 1: for their children, for their grandchildren? Can I put food 627 00:36:32,440 --> 00:36:34,399 Speaker 1: on the table? Can I put a roof over our head? 628 00:36:35,160 --> 00:36:38,080 Speaker 1: And you know, and those are really the basic questions 629 00:36:38,080 --> 00:36:40,200 Speaker 1: that people are going to be answering. I mean, look, 630 00:36:40,239 --> 00:36:44,359 Speaker 1: are you gonna are independent spuding like Donald Trump? Probably not, 631 00:36:44,560 --> 00:36:47,960 Speaker 1: but they need to respect them all right. Jennifer Nasa, 632 00:36:48,040 --> 00:36:50,840 Speaker 1: Republican strategist, former chairwoman of the Massachusetts Republican Party, and 633 00:36:50,840 --> 00:36:52,759 Speaker 1: I guess the Patriots fam thanks for coming on. That 634 00:36:52,840 --> 00:36:55,320 Speaker 1: does it for me. I'm Kevin Sirelli, Chief Ashington corresponded 635 00:36:55,360 --> 00:36:57,480 Speaker 1: for Bloomber TV and Radio Jet. I'm glad you picked 636 00:36:57,560 --> 00:37:00,640 Speaker 1: up the phone. Thanks for listening to Bloomberg. How did 637 00:37:00,719 --> 00:37:01,040 Speaker 1: I want