Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: Now it goes without saying it is, of course a
Speaker 2: pivotal year for US politics, as President Biden former President
Speaker 2: Trump face off in a twenty twenty presidential election rematch
Speaker 2: in November. Of course, so this year plenty of voters
Speaker 2: to think about it course when November comes around, with
Speaker 2: economic issues including the cost of living at the forefront
Speaker 2: for many, very pleased to say right now to talk
Speaker 2: about all these issues, and a trade mission to Europe.
Speaker 2: Glenn Youngkin, the Governor of Virginia visiting Europe on this
Speaker 2: trade mission. It's the third international trade mission, then, Governor,
Speaker 2: for you in your role Germany, Denmark, Finland, Switzerland, how
Speaker 2: do you define success on a mission like this?
Speaker 1: Well, first of all, thank you for having me, and
Speaker 1: we have had a tremendous trip to Europe. We've seen
Speaker 1: great companies, we've seen political leaders, and success for US
Speaker 1: is defined first by deepening relationships. We have a number
Speaker 1: of great companies that have been in Virginia for thirty
Speaker 1: forty fifty years that are headquartered in Europe but have
Speaker 1: their US headquarters or manufacturing in Virginia, but also new
Speaker 1: relationships and it's also been a great time for us
Speaker 1: to meet new companies that are interested in coming to Virginia,
Speaker 1: and we've had a couple of really interesting, great announcements
Speaker 1: four hundred million dollars investment in Virginia yesterday out of
Speaker 1: Denmark with one hundred and fifty new jobs. But on
Speaker 1: top of that, we've also been able to glean real
Speaker 1: insight into macro trends. And of course I've heard tom
Speaker 1: over and over again about the tremendous risk of China
Speaker 1: and the need to be invested in the US, the
Speaker 1: need to make sure that power is reliable and affordable
Speaker 1: and increasingly clean. And of course talent is at the
Speaker 1: forefront of all discussions, and Virginians of the home to
Speaker 1: the best talent in the nation, and that's why people
Speaker 1: want to be there.
Speaker 2: Really really interesting. Of course, you have the economic performance
Speaker 2: of the US as well, the inflation Redutch, and I
Speaker 2: want to in terms of the reliably Lizzy question, Gulf
Speaker 2: is the un still reliable? Still be reliable off in November?
Speaker 2: If you get a President Trump in office. There's deep
Speaker 2: concern we know this in European capituls about where President
Speaker 2: Trump stands on things like NATO on Ukraine on trade. Indeed,
Speaker 2: has that been the topic that's come up? Is that
Speaker 2: concerned justified?
Speaker 1: Well? I think people look back at the rip roaring
Speaker 1: economy that was built during the last Trump administration and
Speaker 1: would fully expect that President Trump, should he be elected,
Speaker 1: would build a rip ring economy again. And of course,
Speaker 1: the challenges that we have in the US economy today
Speaker 1: are underpinned by high inflation and low growth. And I
Speaker 1: see it every day. Virginians are struggling, They're living paycheck
Speaker 1: to paycheck. The grocery store prices have gone up twenty
Speaker 1: five percent over the last few years. Gas prices are
Speaker 1: up fifty percent. The silent thief of inflation is really
Speaker 1: causing challenges, and so we need the opposite. We need
Speaker 1: low and and high growth. I believe that's what President
Speaker 1: Trump built his last time. It's an economy that people
Speaker 1: remember very well, and that's the economy that we need
Speaker 1: to make sure that international companies are investing into. And Tom,
Speaker 1: I think at the heart of this is the recognition
Speaker 1: that the threat of China around the world is driving
Speaker 1: particularly European businesses, to understand that trusted relationships supply chains
Speaker 1: in these most critical industries like semiconductors, like pharmaceuticals, like
Speaker 1: electric vehicle batteries, and the need for advanced storage are
Speaker 1: driving people to want to invest in the United States,
Speaker 1: grow businesses in the United States, and deepen the already
Speaker 1: great relationships that we have.
Speaker 2: And so therefore, presumably you would lolly against tariffs on
Speaker 2: European businesses on the European economy if that's what comes
Speaker 2: through from a President Trump.
Speaker 1: Yeah, of course, the issue of tariff's is something that's
Speaker 1: was used effectively back in the Trump administration in establishing
Speaker 1: a real recognition that China was competing unfairly. China continues
Speaker 1: to compete unfairly, and it needs to be combated, and
Speaker 1: that's why the deep relationship with trusted allies is so important. Listen.
Speaker 1: The bottom line is we need to make sure that
Speaker 1: open access to markets goes both directions. And one of
Speaker 1: the things I've enjoyed the most is the recognition from
Speaker 1: so many European businesses that investing in the United States
Speaker 1: and developing a strong platform for research and development, for manufacturing,
Speaker 1: for distribution, for aftermarket support is so important. You know,
Speaker 1: one of the things we've seen in Virginia which have
Speaker 1: been so exciting is the companies like steel from Germany
Speaker 1: have been in Virginia for fifty years. Their US manufacturing
Speaker 1: hub is there, their headquarters is there, their service centers
Speaker 1: are there. And that's what I think, that's what companies
Speaker 1: are recognizing the US offers, and particularly Virginia.
Speaker 2: Okay Governor on the politics of the US and with
Speaker 2: seeing this cools across campuses, universities across the US, not
Speaker 2: just in your homestead, but it's happened as well. We
Speaker 2: saw some vondence at at Virginia Commonwealth University en Richmond,
Speaker 2: not far from your governor's mentioned. What actions would you
Speaker 2: be prepared to take if that kind of vondnce flies
Speaker 2: up again.
Speaker 1: Well, at the heart of this, first of all, is
Speaker 1: a real commitment to freedom of expression. It's in our
Speaker 1: First Amendment, in our Bill of Rights, to our Constitution.
Speaker 1: But it needs to be peaceful. And these demonstrations have
Speaker 1: crossed over peaceful in a big way. And what we've
Speaker 1: course seen is non students causing real problems, non students
Speaker 1: inciting hate speech and anti Semitism and violence. And so
Speaker 1: we preemptively went to work with our Attorney General, Jason
Speaker 1: mars in Virginia law enforcement, leaders of our universities and
Speaker 1: colleges to make sure that we tried to preempt this.
Speaker 1: We would not allow encampments intents. We are not allowing
Speaker 1: hate speech, and if they're peaceful, then of course that's
Speaker 1: part of our constitutional right and part of the American fabric,
Speaker 1: but we can't allow hate speech, anti Semitism, and most importantly,
Speaker 1: violence and disruption and threats. I think we've been effective
Speaker 1: in coordinating this, and I'm hopeful that we can continue
Speaker 1: to make sure that the safety on our university campus
Speaker 1: is paramount.
Speaker 2: Former President Trump describing the white supremacist rally in Charlottesville,
Speaker 2: Virginia of twenty seventeen that we will remember so stannically
Speaker 2: as peanuts compared to these university protests is not the
Speaker 2: right way to chounts rise it.
Speaker 1: Well. I think one of the big priorities that we've
Speaker 1: had is to preempt and to make sure that violence
Speaker 1: doesn't even get started. And that's why this coordination early
Speaker 1: on with our Attorney General, with law enforcement, and with
Speaker 1: university leadership has been so important. And what we saw,
Speaker 1: of course at Virginia Commonwealth was a large introduction of
Speaker 1: outside element. They were bringing supplies. They actually brought water
Speaker 1: bottles that had been filled with bear spray. They were
Speaker 1: organized to try to confront law enforcement. And I don't
Speaker 1: believe that's the students. I think that's outside influences, and
Speaker 1: that's why it's so important that we're coordinated in a
Speaker 1: preemptive way to make sure that everyone stays safe.
Speaker 2: Are you worried more generally about political violence and civil
Speaker 2: unrest in and around the November general election in the US.
Speaker 1: Well, again, I firmly believe that the ability to freely
Speaker 1: express one's views is so important. It's part of America,
Speaker 1: it's part of our constitutional freedoms and rights, and we
Speaker 1: must protect those. But there are real boundaries, and when
Speaker 1: threats are made in violence ensues, then we can't allow
Speaker 1: that to happen, and we've seen that when it goes,
Speaker 1: when it goes unaddressed, we can have cerch situations like
Speaker 1: we saw up Columbia or we saw out in California
Speaker 1: this week, where violence ensues and we just can't allow
Speaker 1: that to happen. Most importantly, there is an absolute safe place,
Speaker 1: a freedom of expression that we need to ensure, but
Speaker 1: we must draw boundaries on what we're not going to
Speaker 1: allow and intimidation, hates speech, and violence won't be allowed
Speaker 1: in the Commonwealth of Virginia.
Speaker 2: Another lightning rod issue for voters, it seems, is abortion
Speaker 2: reproductive rights in the US, and it seems like at
Speaker 2: the ballot voters are setting a pretty clear message that
Speaker 2: they want to keep reproductive rights. And you saw that
Speaker 2: in your own state, Virginia last year, voters telling you
Speaker 2: that Republicans are on the wrong side of this issue.
Speaker 1: Well, first of all, this is an incredibly emotional and
Speaker 1: difficult topic across the United States, and with the Supreme
Speaker 1: Court ruling now two years ago on most states had
Speaker 1: taken up I think the appropriate responsibility what we tried
Speaker 1: to do in Virginia was fine common ground to find
Speaker 1: a place that was reasonable. And I think that discussion
Speaker 1: is really important for us to have, and I'm committed
Speaker 1: to continue that discussion because I do think that it
Speaker 1: all starts with hearing one another and making sure that
Speaker 1: we first understand that, yes, this is an incredibly difficult topic,
Speaker 1: and second of all, there is a reasonable place to land,
Speaker 1: and that's the place that I can continue to work
Speaker 1: with our General Assembly in Virginia to try to
Speaker 2: Find Governor Glen Youngkin, Governor of Virginia, really appreciate your
Speaker 2: time this morning as you wrap up that trade mission
Speaker 2: of course to your IT and we look for it's
Speaker 2: welcome you here in the UK at some point later
Speaker 2: this year, so thank you.