1 00:00:02,440 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:07,040 --> 00:00:08,800 Speaker 2: Now it goes without saying it is, of course a 3 00:00:08,840 --> 00:00:12,479 Speaker 2: pivotal year for US politics, as President Biden former President 4 00:00:12,480 --> 00:00:16,800 Speaker 2: Trump face off in a twenty twenty presidential election rematch 5 00:00:16,880 --> 00:00:19,400 Speaker 2: in November. Of course, so this year plenty of voters 6 00:00:19,400 --> 00:00:22,159 Speaker 2: to think about it course when November comes around, with 7 00:00:22,200 --> 00:00:25,360 Speaker 2: economic issues including the cost of living at the forefront 8 00:00:26,040 --> 00:00:28,360 Speaker 2: for many, very pleased to say right now to talk 9 00:00:28,400 --> 00:00:30,480 Speaker 2: about all these issues, and a trade mission to Europe. 10 00:00:30,520 --> 00:00:34,080 Speaker 2: Glenn Youngkin, the Governor of Virginia visiting Europe on this 11 00:00:34,159 --> 00:00:36,479 Speaker 2: trade mission. It's the third international trade mission, then, Governor, 12 00:00:36,520 --> 00:00:40,440 Speaker 2: for you in your role Germany, Denmark, Finland, Switzerland, how 13 00:00:40,479 --> 00:00:43,680 Speaker 2: do you define success on a mission like this? 14 00:00:45,440 --> 00:00:47,080 Speaker 1: Well, first of all, thank you for having me, and 15 00:00:47,120 --> 00:00:50,720 Speaker 1: we have had a tremendous trip to Europe. We've seen 16 00:00:50,760 --> 00:00:54,720 Speaker 1: great companies, we've seen political leaders, and success for US 17 00:00:54,800 --> 00:00:58,880 Speaker 1: is defined first by deepening relationships. We have a number 18 00:00:58,880 --> 00:01:01,840 Speaker 1: of great companies that have been in Virginia for thirty 19 00:01:01,880 --> 00:01:04,800 Speaker 1: forty fifty years that are headquartered in Europe but have 20 00:01:04,880 --> 00:01:08,480 Speaker 1: their US headquarters or manufacturing in Virginia, but also new 21 00:01:08,560 --> 00:01:11,399 Speaker 1: relationships and it's also been a great time for us 22 00:01:11,480 --> 00:01:14,679 Speaker 1: to meet new companies that are interested in coming to Virginia, 23 00:01:14,680 --> 00:01:17,040 Speaker 1: and we've had a couple of really interesting, great announcements 24 00:01:17,520 --> 00:01:21,560 Speaker 1: four hundred million dollars investment in Virginia yesterday out of 25 00:01:22,319 --> 00:01:25,120 Speaker 1: Denmark with one hundred and fifty new jobs. But on 26 00:01:25,160 --> 00:01:27,440 Speaker 1: top of that, we've also been able to glean real 27 00:01:27,480 --> 00:01:30,959 Speaker 1: insight into macro trends. And of course I've heard tom 28 00:01:31,160 --> 00:01:35,200 Speaker 1: over and over again about the tremendous risk of China 29 00:01:35,319 --> 00:01:38,200 Speaker 1: and the need to be invested in the US, the 30 00:01:38,319 --> 00:01:41,679 Speaker 1: need to make sure that power is reliable and affordable 31 00:01:41,680 --> 00:01:44,440 Speaker 1: and increasingly clean. And of course talent is at the 32 00:01:44,480 --> 00:01:47,000 Speaker 1: forefront of all discussions, and Virginians of the home to 33 00:01:47,319 --> 00:01:49,240 Speaker 1: the best talent in the nation, and that's why people 34 00:01:49,280 --> 00:01:49,840 Speaker 1: want to be there. 35 00:01:51,360 --> 00:01:53,960 Speaker 2: Really really interesting. Of course, you have the economic performance 36 00:01:53,960 --> 00:01:56,320 Speaker 2: of the US as well, the inflation Redutch, and I 37 00:01:56,320 --> 00:01:59,400 Speaker 2: want to in terms of the reliably Lizzy question, Gulf 38 00:01:59,680 --> 00:02:02,840 Speaker 2: is the un still reliable? Still be reliable off in November? 39 00:02:02,880 --> 00:02:06,000 Speaker 2: If you get a President Trump in office. There's deep 40 00:02:06,000 --> 00:02:09,639 Speaker 2: concern we know this in European capituls about where President 41 00:02:09,639 --> 00:02:13,720 Speaker 2: Trump stands on things like NATO on Ukraine on trade. Indeed, 42 00:02:13,760 --> 00:02:16,080 Speaker 2: has that been the topic that's come up? Is that 43 00:02:16,200 --> 00:02:17,440 Speaker 2: concerned justified? 44 00:02:19,000 --> 00:02:23,280 Speaker 1: Well? I think people look back at the rip roaring 45 00:02:23,360 --> 00:02:27,799 Speaker 1: economy that was built during the last Trump administration and 46 00:02:28,160 --> 00:02:32,320 Speaker 1: would fully expect that President Trump, should he be elected, 47 00:02:32,320 --> 00:02:35,040 Speaker 1: would build a rip ring economy again. And of course, 48 00:02:35,080 --> 00:02:37,680 Speaker 1: the challenges that we have in the US economy today 49 00:02:38,120 --> 00:02:42,320 Speaker 1: are underpinned by high inflation and low growth. And I 50 00:02:42,360 --> 00:02:45,800 Speaker 1: see it every day. Virginians are struggling, They're living paycheck 51 00:02:45,840 --> 00:02:49,120 Speaker 1: to paycheck. The grocery store prices have gone up twenty 52 00:02:49,120 --> 00:02:51,680 Speaker 1: five percent over the last few years. Gas prices are 53 00:02:51,760 --> 00:02:55,919 Speaker 1: up fifty percent. The silent thief of inflation is really 54 00:02:55,960 --> 00:02:59,560 Speaker 1: causing challenges, and so we need the opposite. We need 55 00:02:59,600 --> 00:03:02,680 Speaker 1: low and and high growth. I believe that's what President 56 00:03:02,680 --> 00:03:05,919 Speaker 1: Trump built his last time. It's an economy that people 57 00:03:06,000 --> 00:03:09,600 Speaker 1: remember very well, and that's the economy that we need 58 00:03:09,639 --> 00:03:13,360 Speaker 1: to make sure that international companies are investing into. And Tom, 59 00:03:13,400 --> 00:03:15,639 Speaker 1: I think at the heart of this is the recognition 60 00:03:16,520 --> 00:03:20,560 Speaker 1: that the threat of China around the world is driving 61 00:03:21,040 --> 00:03:26,400 Speaker 1: particularly European businesses, to understand that trusted relationships supply chains 62 00:03:26,400 --> 00:03:31,680 Speaker 1: in these most critical industries like semiconductors, like pharmaceuticals, like 63 00:03:31,760 --> 00:03:35,600 Speaker 1: electric vehicle batteries, and the need for advanced storage are 64 00:03:35,720 --> 00:03:38,280 Speaker 1: driving people to want to invest in the United States, 65 00:03:38,320 --> 00:03:41,200 Speaker 1: grow businesses in the United States, and deepen the already 66 00:03:41,240 --> 00:03:42,480 Speaker 1: great relationships that we have. 67 00:03:43,840 --> 00:03:47,280 Speaker 2: And so therefore, presumably you would lolly against tariffs on 68 00:03:47,360 --> 00:03:50,560 Speaker 2: European businesses on the European economy if that's what comes 69 00:03:50,560 --> 00:03:51,680 Speaker 2: through from a President Trump. 70 00:03:53,120 --> 00:03:56,480 Speaker 1: Yeah, of course, the issue of tariff's is something that's 71 00:03:57,320 --> 00:04:01,600 Speaker 1: was used effectively back in the Trump administration in establishing 72 00:04:01,880 --> 00:04:06,280 Speaker 1: a real recognition that China was competing unfairly. China continues 73 00:04:06,320 --> 00:04:09,920 Speaker 1: to compete unfairly, and it needs to be combated, and 74 00:04:09,960 --> 00:04:15,040 Speaker 1: that's why the deep relationship with trusted allies is so important. Listen. 75 00:04:15,080 --> 00:04:17,360 Speaker 1: The bottom line is we need to make sure that 76 00:04:17,520 --> 00:04:20,960 Speaker 1: open access to markets goes both directions. And one of 77 00:04:20,960 --> 00:04:23,920 Speaker 1: the things I've enjoyed the most is the recognition from 78 00:04:24,120 --> 00:04:28,040 Speaker 1: so many European businesses that investing in the United States 79 00:04:28,160 --> 00:04:32,640 Speaker 1: and developing a strong platform for research and development, for manufacturing, 80 00:04:32,640 --> 00:04:36,599 Speaker 1: for distribution, for aftermarket support is so important. You know, 81 00:04:36,600 --> 00:04:38,360 Speaker 1: one of the things we've seen in Virginia which have 82 00:04:38,440 --> 00:04:41,960 Speaker 1: been so exciting is the companies like steel from Germany 83 00:04:42,000 --> 00:04:46,800 Speaker 1: have been in Virginia for fifty years. Their US manufacturing 84 00:04:46,839 --> 00:04:49,359 Speaker 1: hub is there, their headquarters is there, their service centers 85 00:04:49,400 --> 00:04:51,919 Speaker 1: are there. And that's what I think, that's what companies 86 00:04:51,920 --> 00:04:55,760 Speaker 1: are recognizing the US offers, and particularly Virginia. 87 00:04:55,279 --> 00:04:58,440 Speaker 2: Okay Governor on the politics of the US and with 88 00:04:58,480 --> 00:05:01,279 Speaker 2: seeing this cools across campuses, universities across the US, not 89 00:05:01,360 --> 00:05:03,120 Speaker 2: just in your homestead, but it's happened as well. We 90 00:05:03,720 --> 00:05:07,320 Speaker 2: saw some vondence at at Virginia Commonwealth University en Richmond, 91 00:05:07,400 --> 00:05:10,680 Speaker 2: not far from your governor's mentioned. What actions would you 92 00:05:10,720 --> 00:05:13,279 Speaker 2: be prepared to take if that kind of vondnce flies 93 00:05:13,400 --> 00:05:13,760 Speaker 2: up again. 94 00:05:15,360 --> 00:05:18,120 Speaker 1: Well, at the heart of this, first of all, is 95 00:05:18,520 --> 00:05:23,279 Speaker 1: a real commitment to freedom of expression. It's in our 96 00:05:23,360 --> 00:05:26,240 Speaker 1: First Amendment, in our Bill of Rights, to our Constitution. 97 00:05:26,680 --> 00:05:30,440 Speaker 1: But it needs to be peaceful. And these demonstrations have 98 00:05:30,600 --> 00:05:33,560 Speaker 1: crossed over peaceful in a big way. And what we've 99 00:05:33,600 --> 00:05:39,840 Speaker 1: course seen is non students causing real problems, non students 100 00:05:39,839 --> 00:05:44,720 Speaker 1: inciting hate speech and anti Semitism and violence. And so 101 00:05:44,760 --> 00:05:48,039 Speaker 1: we preemptively went to work with our Attorney General, Jason 102 00:05:48,120 --> 00:05:52,800 Speaker 1: mars in Virginia law enforcement, leaders of our universities and 103 00:05:52,880 --> 00:05:56,200 Speaker 1: colleges to make sure that we tried to preempt this. 104 00:05:56,680 --> 00:06:00,479 Speaker 1: We would not allow encampments intents. We are not allowing 105 00:06:00,560 --> 00:06:03,640 Speaker 1: hate speech, and if they're peaceful, then of course that's 106 00:06:03,720 --> 00:06:06,240 Speaker 1: part of our constitutional right and part of the American fabric, 107 00:06:06,680 --> 00:06:10,040 Speaker 1: but we can't allow hate speech, anti Semitism, and most importantly, 108 00:06:10,120 --> 00:06:13,799 Speaker 1: violence and disruption and threats. I think we've been effective 109 00:06:13,839 --> 00:06:17,400 Speaker 1: in coordinating this, and I'm hopeful that we can continue 110 00:06:17,400 --> 00:06:20,440 Speaker 1: to make sure that the safety on our university campus 111 00:06:20,520 --> 00:06:21,120 Speaker 1: is paramount. 112 00:06:22,360 --> 00:06:25,760 Speaker 2: Former President Trump describing the white supremacist rally in Charlottesville, 113 00:06:25,839 --> 00:06:28,800 Speaker 2: Virginia of twenty seventeen that we will remember so stannically 114 00:06:28,880 --> 00:06:32,560 Speaker 2: as peanuts compared to these university protests is not the 115 00:06:32,640 --> 00:06:33,920 Speaker 2: right way to chounts rise it. 116 00:06:35,440 --> 00:06:38,719 Speaker 1: Well. I think one of the big priorities that we've 117 00:06:38,760 --> 00:06:42,799 Speaker 1: had is to preempt and to make sure that violence 118 00:06:42,960 --> 00:06:47,520 Speaker 1: doesn't even get started. And that's why this coordination early 119 00:06:47,600 --> 00:06:50,880 Speaker 1: on with our Attorney General, with law enforcement, and with 120 00:06:51,080 --> 00:06:55,880 Speaker 1: university leadership has been so important. And what we saw, 121 00:06:55,920 --> 00:07:01,000 Speaker 1: of course at Virginia Commonwealth was a large introduction of 122 00:07:01,080 --> 00:07:05,240 Speaker 1: outside element. They were bringing supplies. They actually brought water 123 00:07:05,320 --> 00:07:08,200 Speaker 1: bottles that had been filled with bear spray. They were 124 00:07:08,320 --> 00:07:12,760 Speaker 1: organized to try to confront law enforcement. And I don't 125 00:07:12,760 --> 00:07:16,200 Speaker 1: believe that's the students. I think that's outside influences, and 126 00:07:16,240 --> 00:07:18,520 Speaker 1: that's why it's so important that we're coordinated in a 127 00:07:18,560 --> 00:07:20,960 Speaker 1: preemptive way to make sure that everyone stays safe. 128 00:07:22,120 --> 00:07:24,960 Speaker 2: Are you worried more generally about political violence and civil 129 00:07:25,040 --> 00:07:28,840 Speaker 2: unrest in and around the November general election in the US. 130 00:07:30,320 --> 00:07:34,960 Speaker 1: Well, again, I firmly believe that the ability to freely 131 00:07:35,000 --> 00:07:40,080 Speaker 1: express one's views is so important. It's part of America, 132 00:07:40,120 --> 00:07:43,040 Speaker 1: it's part of our constitutional freedoms and rights, and we 133 00:07:43,120 --> 00:07:47,720 Speaker 1: must protect those. But there are real boundaries, and when 134 00:07:47,920 --> 00:07:51,400 Speaker 1: threats are made in violence ensues, then we can't allow 135 00:07:51,440 --> 00:07:54,480 Speaker 1: that to happen, and we've seen that when it goes, 136 00:07:54,880 --> 00:07:58,720 Speaker 1: when it goes unaddressed, we can have cerch situations like 137 00:07:58,800 --> 00:08:02,360 Speaker 1: we saw up Columbia or we saw out in California 138 00:08:02,680 --> 00:08:06,000 Speaker 1: this week, where violence ensues and we just can't allow 139 00:08:06,040 --> 00:08:10,560 Speaker 1: that to happen. Most importantly, there is an absolute safe place, 140 00:08:10,920 --> 00:08:13,600 Speaker 1: a freedom of expression that we need to ensure, but 141 00:08:13,680 --> 00:08:15,560 Speaker 1: we must draw boundaries on what we're not going to 142 00:08:15,560 --> 00:08:19,000 Speaker 1: allow and intimidation, hates speech, and violence won't be allowed 143 00:08:19,000 --> 00:08:20,160 Speaker 1: in the Commonwealth of Virginia. 144 00:08:21,240 --> 00:08:24,480 Speaker 2: Another lightning rod issue for voters, it seems, is abortion 145 00:08:24,600 --> 00:08:27,600 Speaker 2: reproductive rights in the US, and it seems like at 146 00:08:27,640 --> 00:08:30,400 Speaker 2: the ballot voters are setting a pretty clear message that 147 00:08:30,440 --> 00:08:33,199 Speaker 2: they want to keep reproductive rights. And you saw that 148 00:08:33,240 --> 00:08:37,120 Speaker 2: in your own state, Virginia last year, voters telling you 149 00:08:37,160 --> 00:08:40,360 Speaker 2: that Republicans are on the wrong side of this issue. 150 00:08:42,080 --> 00:08:46,280 Speaker 1: Well, first of all, this is an incredibly emotional and 151 00:08:46,320 --> 00:08:52,840 Speaker 1: difficult topic across the United States, and with the Supreme 152 00:08:52,880 --> 00:08:56,480 Speaker 1: Court ruling now two years ago on most states had 153 00:08:56,480 --> 00:09:01,000 Speaker 1: taken up I think the appropriate responsibility what we tried 154 00:09:01,000 --> 00:09:05,000 Speaker 1: to do in Virginia was fine common ground to find 155 00:09:05,000 --> 00:09:08,720 Speaker 1: a place that was reasonable. And I think that discussion 156 00:09:08,840 --> 00:09:12,720 Speaker 1: is really important for us to have, and I'm committed 157 00:09:12,760 --> 00:09:16,200 Speaker 1: to continue that discussion because I do think that it 158 00:09:16,280 --> 00:09:19,360 Speaker 1: all starts with hearing one another and making sure that 159 00:09:19,440 --> 00:09:22,760 Speaker 1: we first understand that, yes, this is an incredibly difficult topic, 160 00:09:23,080 --> 00:09:25,839 Speaker 1: and second of all, there is a reasonable place to land, 161 00:09:26,360 --> 00:09:29,000 Speaker 1: and that's the place that I can continue to work 162 00:09:29,000 --> 00:09:31,160 Speaker 1: with our General Assembly in Virginia to try to 163 00:09:31,160 --> 00:09:36,120 Speaker 2: Find Governor Glen Youngkin, Governor of Virginia, really appreciate your 164 00:09:36,120 --> 00:09:38,680 Speaker 2: time this morning as you wrap up that trade mission 165 00:09:38,679 --> 00:09:40,000 Speaker 2: of course to your IT and we look for it's 166 00:09:40,000 --> 00:09:42,080 Speaker 2: welcome you here in the UK at some point later 167 00:09:42,160 --> 00:09:43,280 Speaker 2: this year, so thank you.