1
00:00:02,520 --> 00:00:08,280
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News. Well, let's turn back

2
00:00:08,360 --> 00:00:11,520
Speaker 1: to that interview now. After a tumultuous year for relations

3
00:00:11,520 --> 00:00:15,120
Speaker 1: between the United States and Europe, are things starting to improve?

4
00:00:15,240 --> 00:00:18,560
Speaker 1: The process to approve the Framework Trade agreementertain the US

5
00:00:18,600 --> 00:00:21,200
Speaker 1: and EU agreed last summer is progressing through the European

6
00:00:21,239 --> 00:00:24,880
Speaker 1: Parliament after being disrupted by President Trump's threats over Greenland?

7
00:00:24,960 --> 00:00:28,200
Speaker 1: So what next for Transatlantic ties? Were joined by Andrew

8
00:00:28,200 --> 00:00:29,960
Speaker 1: Posterer and ed, the US Ambassador to the European Union.

9
00:00:30,000 --> 00:00:31,800
Speaker 1: Good morning, Great to have you with us. Thanks even

10
00:00:31,840 --> 00:00:34,440
Speaker 1: great to be here in the studio. Before we get

11
00:00:34,479 --> 00:00:36,479
Speaker 1: into the trade conversation, I just wanted to ask you

12
00:00:36,600 --> 00:00:39,600
Speaker 1: about the story that is leading our agendas this morning

13
00:00:39,800 --> 00:00:43,880
Speaker 1: about Iran and the potential for US military intervention there.

14
00:00:44,000 --> 00:00:47,279
Speaker 1: I'm wondering what sort of conversations you're having with your

15
00:00:47,280 --> 00:00:51,000
Speaker 1: European colleagues about that issue this morning. Are they concerned

16
00:00:51,000 --> 00:00:52,360
Speaker 1: about what happens next in Iran?

17
00:00:52,760 --> 00:00:54,880
Speaker 2: Really, everything I know about that issue I learned from

18
00:00:54,880 --> 00:00:56,800
Speaker 2: Paul Wallace as I was getting ready to do a

19
00:00:56,840 --> 00:01:00,680
Speaker 2: TV interview on Bloomberg this morning. You know, as president

20
00:01:00,800 --> 00:01:03,440
Speaker 2: President Trump wants to be the peace president and has

21
00:01:03,480 --> 00:01:05,680
Speaker 2: been the peace president across the globe in a number

22
00:01:05,720 --> 00:01:09,399
Speaker 2: of conflicts. But he's also willing to strike the decisively

23
00:01:09,440 --> 00:01:12,440
Speaker 2: if he feels America's interest or the interests.

24
00:01:12,120 --> 00:01:14,199
Speaker 3: Of our allies are are at risk.

25
00:01:14,319 --> 00:01:17,240
Speaker 2: So I don't have any inside information, and I really

26
00:01:17,280 --> 00:01:21,000
Speaker 2: have not had conversations with any of the anybody.

27
00:01:21,200 --> 00:01:22,000
Speaker 3: Nobody raises that.

28
00:01:22,040 --> 00:01:24,800
Speaker 2: I was in an event last night to celebrate the

29
00:01:24,880 --> 00:01:27,360
Speaker 2: birthday of the Japanese Emperor at the Japanese Mission. We

30
00:01:27,360 --> 00:01:30,040
Speaker 2: saw a number of perm reps and.

31
00:01:30,400 --> 00:01:31,400
Speaker 1: One of your best parties.

32
00:01:32,959 --> 00:01:34,520
Speaker 3: Well it's a good one. They have great food. I'll

33
00:01:34,520 --> 00:01:35,160
Speaker 3: tell you that.

34
00:01:35,200 --> 00:01:38,840
Speaker 2: The Uh, it was great to see everybody, But nobody

35
00:01:38,840 --> 00:01:41,200
Speaker 2: asked about Iran. That wasn't a topic. Then, you know,

36
00:01:41,240 --> 00:01:43,520
Speaker 2: they you talk about the trade deal, you talk about

37
00:01:43,520 --> 00:01:49,040
Speaker 2: critical minerals, you talk about regulatory reform, deregulation. Uh, but

38
00:01:49,160 --> 00:01:50,840
Speaker 2: nobody really brought up Iran.

39
00:01:51,600 --> 00:01:55,560
Speaker 4: Okay, So well, let's see what happens with the deadline

40
00:01:55,600 --> 00:01:58,080
Speaker 4: that that President Trump has has given and what the

41
00:01:58,120 --> 00:02:01,120
Speaker 4: reaction will be its trade deal. Let's talk about it.

42
00:02:01,120 --> 00:02:04,800
Speaker 4: The European Parliament has added a number of conditions, including

43
00:02:04,800 --> 00:02:07,280
Speaker 4: a time limit for the trade deal of twenty twenty

44
00:02:07,280 --> 00:02:11,880
Speaker 4: eight and a suspension clause if the US imposes higher tariffs.

45
00:02:12,000 --> 00:02:13,559
Speaker 4: Are you happy with those conditions?

46
00:02:14,040 --> 00:02:16,320
Speaker 3: Well, the conditions came out of the committee.

47
00:02:16,680 --> 00:02:19,840
Speaker 2: These they were not they have not been passed by

48
00:02:19,880 --> 00:02:24,200
Speaker 2: Parliament yet that they come before Parliament on March ninth,

49
00:02:24,200 --> 00:02:26,800
Speaker 2: when they're in plnary session in Strasbourg, which I intend

50
00:02:26,800 --> 00:02:29,480
Speaker 2: to go to. I think it's important for the United

51
00:02:29,480 --> 00:02:32,160
Speaker 2: States to let people know we think this is a

52
00:02:32,200 --> 00:02:35,200
Speaker 2: big issue. We'll be there. Then it will go. Since

53
00:02:35,240 --> 00:02:40,120
Speaker 2: the Council approved the trade deal as the Commission signed it.

54
00:02:40,919 --> 00:02:43,480
Speaker 2: On the theory the deal is a deal, there'll be

55
00:02:43,560 --> 00:02:47,079
Speaker 2: a trilog or in the United States what we'd call reconciliation.

56
00:02:47,200 --> 00:02:50,880
Speaker 2: But there'll be a trilog here where the Council and

57
00:02:50,960 --> 00:02:55,440
Speaker 2: the Parliament will discuss those amendments and we'll we'll have

58
00:02:55,480 --> 00:02:59,359
Speaker 2: to see what comes out. I'd hate to compliment, I'd

59
00:02:59,400 --> 00:03:02,720
Speaker 2: hate to make comment about any of them prematurely, and

60
00:03:03,000 --> 00:03:05,520
Speaker 2: they really haven't been voted on by Parliament yet.

61
00:03:05,800 --> 00:03:08,119
Speaker 1: I think I think, if you're going, do you plan

62
00:03:08,200 --> 00:03:10,040
Speaker 1: to what do you plan to say to the members

63
00:03:10,080 --> 00:03:12,360
Speaker 1: of the European Parliament at the planary session?

64
00:03:12,480 --> 00:03:14,520
Speaker 2: But I plan to be there in case they have

65
00:03:14,639 --> 00:03:17,119
Speaker 2: questions about what the United States position is on any

66
00:03:17,160 --> 00:03:19,760
Speaker 2: of this and how important the trade deal is to us.

67
00:03:19,800 --> 00:03:23,600
Speaker 2: I think that, you know, just my being there will

68
00:03:23,639 --> 00:03:25,679
Speaker 2: I think, make a statement about how important the deal

69
00:03:25,760 --> 00:03:27,400
Speaker 2: is to us. So I want to. I want to

70
00:03:27,400 --> 00:03:30,840
Speaker 2: make that statement. There's also some I have friends in

71
00:03:30,880 --> 00:03:32,680
Speaker 2: the Parliament now who i'd like to get together with

72
00:03:32,760 --> 00:03:35,720
Speaker 2: to see how they're doing. And I have some individuals

73
00:03:35,760 --> 00:03:37,480
Speaker 2: i'd like to meet with who I haven't met with

74
00:03:37,600 --> 00:03:38,280
Speaker 2: yet in Parliament.

75
00:03:38,360 --> 00:03:39,760
Speaker 3: So hopefully I'll do some of that.

76
00:03:40,120 --> 00:03:43,200
Speaker 2: But on the Sunset provision, you know that one in

77
00:03:43,240 --> 00:03:46,360
Speaker 2: particular seems a little strange to me. And we just

78
00:03:46,400 --> 00:03:50,760
Speaker 2: spent Josh, they so long trying to get the European

79
00:03:50,880 --> 00:03:53,560
Speaker 2: Union to approve the last deal that they agreed to.

80
00:03:53,600 --> 00:03:56,360
Speaker 2: When was it in July, i think right, And the

81
00:03:56,440 --> 00:03:59,800
Speaker 2: United States in August did everything we promised to do

82
00:03:59,840 --> 00:04:02,440
Speaker 2: in the trade deal we executed. Now we've been waiting

83
00:04:02,440 --> 00:04:05,320
Speaker 2: for nine months for Europe to do anything because it

84
00:04:05,360 --> 00:04:07,480
Speaker 2: has to go through this process before it can act.

85
00:04:07,600 --> 00:04:09,160
Speaker 2: And I hate to think that in a couple of

86
00:04:09,240 --> 00:04:11,680
Speaker 2: years we're going to do all this again. Although President

87
00:04:11,720 --> 00:04:14,080
Speaker 2: Trump might like it, he'd probably want to raise the

88
00:04:14,120 --> 00:04:18,039
Speaker 2: tariffs once again, I don't know that he's I don't

89
00:04:18,080 --> 00:04:20,120
Speaker 2: know that he's a big fan of lowering them to

90
00:04:20,160 --> 00:04:23,760
Speaker 2: fifteen percent, but well he might be. I shouldn't comment

91
00:04:23,839 --> 00:04:27,320
Speaker 2: on that. I'm only being half serious. That's probably a

92
00:04:27,320 --> 00:04:28,240
Speaker 2: mistake on the radio.

93
00:04:28,320 --> 00:04:31,640
Speaker 1: But one of the issues that the European Parliament Committee

94
00:04:31,680 --> 00:04:34,080
Speaker 1: took issue with was the higher tariffs that are on

95
00:04:34,120 --> 00:04:37,039
Speaker 1: steel altominium products as well. There's this question of a

96
00:04:37,120 --> 00:04:40,080
Speaker 1: list of derivative products that use these metals as well,

97
00:04:40,080 --> 00:04:43,400
Speaker 1: which has been a particular bone of contention for the EU.

98
00:04:43,520 --> 00:04:45,760
Speaker 1: Are there changes of foot there, is there a hope

99
00:04:45,760 --> 00:04:47,279
Speaker 1: for progress on those issues?

100
00:04:47,520 --> 00:04:48,400
Speaker 3: Yeah, it is.

101
00:04:48,560 --> 00:04:51,960
Speaker 2: The derivatives were a big issue even before anything arose

102
00:04:51,960 --> 00:04:54,480
Speaker 2: about Greenland, So that was something that Burn Longe, who

103
00:04:54,560 --> 00:05:00,920
Speaker 2: chairs the committee that approved the amended the amendments to

104
00:05:00,960 --> 00:05:04,880
Speaker 2: the bill and the bill that's going before the Parliament

105
00:05:05,520 --> 00:05:08,359
Speaker 2: on the ninth there, he's always been concerned about that

106
00:05:08,440 --> 00:05:14,560
Speaker 2: and there I am told by people I know at

107
00:05:14,640 --> 00:05:18,279
Speaker 2: the US Trade Representative's office in the Commerce Department that

108
00:05:18,360 --> 00:05:21,240
Speaker 2: we have what we hope is a solution to some

109
00:05:21,279 --> 00:05:23,800
Speaker 2: of those issues. We'll have to see whether it's in

110
00:05:23,800 --> 00:05:27,040
Speaker 2: a solution that's acceptable to the EU. I would also

111
00:05:27,080 --> 00:05:31,120
Speaker 2: mention though, that the EU's Carbon Border Adjustment Mechanism, which

112
00:05:31,160 --> 00:05:34,359
Speaker 2: is another non barrier, non non tariff trade barrier, and

113
00:05:34,400 --> 00:05:38,320
Speaker 2: those are mentioned extensively in the in the Framework Agreement,

114
00:05:38,839 --> 00:05:41,320
Speaker 2: does basically the same thing. It puts a tax on

115
00:05:41,480 --> 00:05:46,039
Speaker 2: US products that have you know, these these elements as well.

116
00:05:46,040 --> 00:05:48,880
Speaker 2: It's the washing machines and motorcycles. The same things are

117
00:05:48,880 --> 00:05:52,200
Speaker 2: covered by the derivative tax end by the Carbon Border

118
00:05:52,680 --> 00:05:56,240
Speaker 2: Adjustment mechanism. So hopefully we'll be able to resolve both

119
00:05:56,279 --> 00:05:58,920
Speaker 2: of those issues. But let's get let's get a vote

120
00:05:58,920 --> 00:06:00,839
Speaker 2: out of Parliament, let's get a bill out of the

121
00:06:00,960 --> 00:06:04,239
Speaker 2: trialog proceeding, and then I think we can go from there.

122
00:06:05,320 --> 00:06:08,600
Speaker 4: In terms of the other major threads, there is this

123
00:06:08,760 --> 00:06:12,960
Speaker 4: debate going on within the European Commission about the maide

124
00:06:13,000 --> 00:06:17,320
Speaker 4: in Europe Plan, the rules on the preference of products

125
00:06:17,520 --> 00:06:22,599
Speaker 4: made within the EU. You've talked about your concerns, they're

126
00:06:22,640 --> 00:06:26,239
Speaker 4: already but you're worried about that particular issue and whether

127
00:06:26,279 --> 00:06:30,240
Speaker 4: it will have a big impact on US companies if

128
00:06:30,360 --> 00:06:34,480
Speaker 4: the Eupean Commission focuses on made in Europe rules, well.

129
00:06:34,360 --> 00:06:35,360
Speaker 3: They made in Europe.

130
00:06:35,400 --> 00:06:39,560
Speaker 2: Rules would be a direct contravention of the not only

131
00:06:39,600 --> 00:06:42,679
Speaker 2: the terms, but the spirit of the framework trade agreement

132
00:06:42,720 --> 00:06:46,440
Speaker 2: that was agreed to in Scotland, because we've agreed not

133
00:06:46,600 --> 00:06:49,200
Speaker 2: to have those kinds of preferences between our two countries,

134
00:06:49,200 --> 00:06:52,480
Speaker 2: and I think adopting them would would be a serious mistake.

135
00:06:52,480 --> 00:06:55,840
Speaker 2: I would say, particularly in the area of defense, because

136
00:06:55,839 --> 00:07:00,039
Speaker 2: we have a very intermixed defense industrial base between the

137
00:06:59,920 --> 00:07:06,000
Speaker 2: United States and Europe. Many of the weapons, the armaments

138
00:07:06,080 --> 00:07:09,840
Speaker 2: that we're using not only in NATO but also shipping

139
00:07:09,880 --> 00:07:15,320
Speaker 2: to Ukraine, have production capacities in Europe as well as

140
00:07:15,320 --> 00:07:18,040
Speaker 2: the United States, and the machines that make them. Some

141
00:07:18,080 --> 00:07:20,160
Speaker 2: are made in the Czech Republic, in Finland, some are

142
00:07:20,200 --> 00:07:24,239
Speaker 2: made in the US. There's a very intermixed supply chain,

143
00:07:24,680 --> 00:07:28,880
Speaker 2: a defense industrial base, and a focus on having our

144
00:07:29,000 --> 00:07:33,040
Speaker 2: defense products be interoperable. In other words, that if we

145
00:07:33,120 --> 00:07:36,800
Speaker 2: are if we're a NATO member and we're producing military hardware,

146
00:07:36,840 --> 00:07:39,000
Speaker 2: we want it to be we want to you know,

147
00:07:39,040 --> 00:07:42,160
Speaker 2: we can't have it. You know, you working for different

148
00:07:42,200 --> 00:07:45,440
Speaker 2: sized train rails or weights that are that don't work

149
00:07:45,480 --> 00:07:48,080
Speaker 2: on European highways. We have to have these things interoperable,

150
00:07:48,640 --> 00:07:53,720
Speaker 2: and these by europe preference, particularly in these defense procurement initiatives,

151
00:07:53,760 --> 00:07:56,400
Speaker 2: is a real threat to our defense industrial base and

152
00:07:56,520 --> 00:07:57,520
Speaker 2: that worries me a lot.

153
00:07:57,840 --> 00:07:59,800
Speaker 1: Are you engaging with the European Commission on this? If

154
00:07:59,800 --> 00:08:02,280
Speaker 1: you spoken to Commissioner Stefan Sorne.

155
00:08:02,600 --> 00:08:06,560
Speaker 2: Yes, And we're engaging with the Parliament, We're engaging with

156
00:08:06,640 --> 00:08:12,680
Speaker 2: members of Council. Actually, Matt Whitaker, who's the US ambassador

157
00:08:12,760 --> 00:08:14,680
Speaker 2: to NATO, and I have an article coming out on

158
00:08:14,720 --> 00:08:17,600
Speaker 2: this next week which will be in Political which is

159
00:08:17,640 --> 00:08:19,680
Speaker 2: kind of a competitor viewers. But if you guys want

160
00:08:19,720 --> 00:08:21,600
Speaker 2: to run our opts, I'll talk to you afterwards.

161
00:08:22,000 --> 00:08:23,400
Speaker 1: But if you want to tell us what's in US

162
00:08:23,440 --> 00:08:25,560
Speaker 1: would be uh would be useful for this because I

163
00:08:25,600 --> 00:08:27,840
Speaker 1: think there's quite a lot of listening to you now,

164
00:08:27,840 --> 00:08:30,280
Speaker 1: there'll be probably quite a lot of ambassadors and members

165
00:08:30,280 --> 00:08:32,680
Speaker 1: of the European Commission would be quite concerned that perhaps this

166
00:08:32,760 --> 00:08:36,280
Speaker 1: plan may upset the US trade relationship. Is this an

167
00:08:36,320 --> 00:08:38,520
Speaker 1: issue that you could see becoming much bigger?

168
00:08:38,840 --> 00:08:39,760
Speaker 3: I think we'll negotiate.

169
00:08:39,800 --> 00:08:42,120
Speaker 2: I think we'll negotiate through this because I just don't

170
00:08:42,200 --> 00:08:44,760
Speaker 2: I don't think it's a wise thing to do with

171
00:08:45,080 --> 00:08:49,199
Speaker 2: particularly with respect to our defense industrial base, because the

172
00:08:49,200 --> 00:08:51,679
Speaker 2: more you break that up, you know, it may it

173
00:08:51,720 --> 00:08:56,320
Speaker 2: may help the economy of certain countries, but that's really

174
00:08:56,360 --> 00:08:59,000
Speaker 2: not the purpose of the defense industrial base. That's really

175
00:08:59,080 --> 00:09:01,679
Speaker 2: not the purpose of these funding mechanisms. If you want

176
00:09:01,679 --> 00:09:05,080
Speaker 2: to have a funding mechanism to build up Europe's production capacity,

177
00:09:05,440 --> 00:09:08,160
Speaker 2: you know, have a loan program that does that. If

178
00:09:08,200 --> 00:09:10,439
Speaker 2: you're making a loan, If you have a loan program.

179
00:09:10,440 --> 00:09:13,360
Speaker 2: The desire their designed to help Ukraine win the war

180
00:09:13,559 --> 00:09:17,240
Speaker 2: in Ukraine, to defeat the Russians. Well, then they ought

181
00:09:17,280 --> 00:09:19,400
Speaker 2: to be able to buy whatever they want from wherever

182
00:09:19,440 --> 00:09:21,560
Speaker 2: they want, so that they can win the war. I mean,

183
00:09:21,600 --> 00:09:24,360
Speaker 2: they've been Nobody thought they would last two weeks this said,

184
00:09:24,360 --> 00:09:28,120
Speaker 2: we're going into our fourth year and they're uh, you know,

185
00:09:28,120 --> 00:09:31,800
Speaker 2: they've changed warfare. Literally, they took out forty percent of

186
00:09:31,840 --> 00:09:35,120
Speaker 2: the Russians. Multiply whoever thought this would all happen. So

187
00:09:35,320 --> 00:09:37,360
Speaker 2: they should be able to purchase what they want. With

188
00:09:37,400 --> 00:09:40,720
Speaker 2: respect to NATO, NATO member states should also be able

189
00:09:40,760 --> 00:09:42,800
Speaker 2: to purchase what they want, what they need to meet

190
00:09:42,800 --> 00:09:45,480
Speaker 2: their defense needs. So when the European Union comes up

191
00:09:45,480 --> 00:09:50,000
Speaker 2: with these defense procurement initiatives, these funding mechanisms, these loan

192
00:09:50,040 --> 00:09:54,319
Speaker 2: mechanisms to put in European preference language can be a

193
00:09:54,440 --> 00:09:58,640
Speaker 2: very dangerous things because it weakens our joint defense efforts.

194
00:09:59,200 --> 00:10:03,679
Speaker 4: Ambassador, the REALM Europe program aims to have more than

195
00:10:03,760 --> 00:10:08,120
Speaker 4: fifty percent of weapons made in the EU. That that's

196
00:10:08,240 --> 00:10:12,400
Speaker 4: the plan. And the question attached to that is because

197
00:10:12,440 --> 00:10:15,079
Speaker 4: there are doubts in Europe about whether the US is

198
00:10:15,120 --> 00:10:17,720
Speaker 4: a reliable partner for defense supplies.

199
00:10:18,679 --> 00:10:21,280
Speaker 2: Well, I'll tell you the defense industrial base is filled

200
00:10:21,320 --> 00:10:26,880
Speaker 2: with joint ventures and joint efforts by American and European manufacturers,

201
00:10:26,880 --> 00:10:30,120
Speaker 2: also Japanese manufacturers, and this is we have a very

202
00:10:30,240 --> 00:10:31,600
Speaker 2: integrated system here.

203
00:10:32,040 --> 00:10:33,280
Speaker 3: And I think.

204
00:10:33,080 --> 00:10:40,160
Speaker 2: That that approach to military spending, to defense spending ignores

205
00:10:40,200 --> 00:10:43,719
Speaker 2: many things, including the was it eighty year eighty year

206
00:10:43,720 --> 00:10:47,720
Speaker 2: old NATO alliance and the effectiveness of that alligned.

207
00:10:47,440 --> 00:10:48,880
Speaker 1: Twice a lot in the past year. I think that

208
00:10:49,040 --> 00:10:51,480
Speaker 1: has a lot of people questioning elements of the NATO alliance.

209
00:10:51,720 --> 00:10:53,880
Speaker 1: Is it fair for them to question this element as well?

210
00:10:54,000 --> 00:10:54,800
Speaker 3: Well? Not really.

211
00:10:55,040 --> 00:10:57,120
Speaker 2: The United States is not withdrawing from NATO, and the

212
00:10:57,160 --> 00:10:59,240
Speaker 2: President has made that clear and the Secretary of State

213
00:10:59,240 --> 00:11:01,680
Speaker 2: has made that clear. You don't need the Ambassador to

214
00:11:01,720 --> 00:11:03,800
Speaker 2: the EU to make that clear. Matt Whittaker says it.

215
00:11:04,679 --> 00:11:07,520
Speaker 2: Our ambassador to NATO says it probably ten times a week.

216
00:11:08,320 --> 00:11:13,080
Speaker 2: We are here. We have we have more troops here

217
00:11:13,080 --> 00:11:16,240
Speaker 2: in Europe than all of the European militaries added together.

218
00:11:16,600 --> 00:11:19,360
Speaker 2: You know, we've got our nuclear umbrella that protects Europe.

219
00:11:19,400 --> 00:11:22,040
Speaker 2: That's not you know, it's not going anywhere, and if

220
00:11:22,040 --> 00:11:24,200
Speaker 2: it did go somewhere, it's not something that Europe would

221
00:11:24,200 --> 00:11:25,079
Speaker 2: be able to replace.

222
00:11:25,400 --> 00:11:28,320
Speaker 1: So I think if Vanuel Macron would like to what's

223
00:11:28,360 --> 00:11:30,040
Speaker 1: what's your view of that plan.

224
00:11:30,080 --> 00:11:32,480
Speaker 3: Well, you'd sure have to make a whole lot more.

225
00:11:32,800 --> 00:11:35,120
Speaker 2: He produce a whole lot more nuclear weapons than he

226
00:11:35,160 --> 00:11:37,120
Speaker 2: has currently, and I don't know that France is in

227
00:11:37,160 --> 00:11:41,720
Speaker 2: a particularly advantageous economic position to do that at the moment.

228
00:11:41,760 --> 00:11:43,480
Speaker 1: I think France, your message to the U is, but

229
00:11:43,600 --> 00:11:45,480
Speaker 1: you don't have to worry about the nuclear umbrella, that

230
00:11:45,480 --> 00:11:46,640
Speaker 1: that's perfectly safe.

231
00:11:46,720 --> 00:11:49,360
Speaker 2: You can't you can't match it, and and nobody's talking

232
00:11:49,440 --> 00:11:52,000
Speaker 2: about taking it away. So let's let's focus on things

233
00:11:52,000 --> 00:11:55,040
Speaker 2: that are actually important that we actually can do. Let's

234
00:11:55,040 --> 00:11:58,080
Speaker 2: talk about strengthening NATO let's let's talk about building up

235
00:11:58,120 --> 00:12:01,800
Speaker 2: the European economy, but do you regulation and having pro

236
00:12:01,840 --> 00:12:05,320
Speaker 2: growth policies so that Europe can actually meet this five

237
00:12:05,360 --> 00:12:08,920
Speaker 2: percent of GDP requirement that they've agreed to with NATO.

238
00:12:09,440 --> 00:12:11,360
Speaker 2: Poland was out. I think it is either the Prime

239
00:12:11,360 --> 00:12:13,720
Speaker 2: minister or the President of Poland was out just last

240
00:12:13,720 --> 00:12:14,559
Speaker 2: week saying, look.

241
00:12:14,360 --> 00:12:15,680
Speaker 3: We're at five percent.

242
00:12:16,040 --> 00:12:18,000
Speaker 2: But the only way we've gotten here is we've got

243
00:12:18,080 --> 00:12:20,800
Speaker 2: pretty good economic growth. So tax revenue is going up

244
00:12:20,880 --> 00:12:24,120
Speaker 2: because we have growth. Well, the rest of Europe really.

245
00:12:23,800 --> 00:12:24,880
Speaker 3: Doesn't have that growth.

246
00:12:24,920 --> 00:12:28,880
Speaker 2: I mean, we're seeing GDP declines, We're seeing declines and

247
00:12:28,920 --> 00:12:31,720
Speaker 2: standards of living, and we need to see those things

248
00:12:32,320 --> 00:12:35,240
Speaker 2: re energize. We need to see reindustrialization, We need to

249
00:12:35,240 --> 00:12:38,440
Speaker 2: see Europe participating in the AI economy. We need to

250
00:12:38,440 --> 00:12:41,679
Speaker 2: see the kinds of growth that Europe talks about. Competitiveness,

251
00:12:41,679 --> 00:12:44,440
Speaker 2: I'm not I wish they would stop talking about how

252
00:12:44,440 --> 00:12:46,280
Speaker 2: they're going to compete with other people and just talk

253
00:12:46,280 --> 00:12:49,160
Speaker 2: about how they're going to grow their economy. Europeans need,

254
00:12:49,200 --> 00:12:51,760
Speaker 2: the European economy needs to grow. When it grows, it

255
00:12:51,800 --> 00:12:52,600
Speaker 2: will be competitive.

256
00:12:52,640 --> 00:12:54,200
Speaker 1: Yeah, and I think there's a lot of the ministers

257
00:12:54,240 --> 00:12:56,320
Speaker 1: who would agree with you that the issues of competitiveness

258
00:12:56,360 --> 00:12:59,080
Speaker 1: and growth are intertwined. But you know part of the

259
00:12:59,120 --> 00:13:02,719
Speaker 1: plan and you talk about intus relation is the industrial

260
00:13:03,080 --> 00:13:06,240
Speaker 1: accelerator acts that's going to have we're told by the

261
00:13:06,240 --> 00:13:08,280
Speaker 1: debates going on, this's made in europe life. So is

262
00:13:08,559 --> 00:13:10,520
Speaker 1: that they're going about it the wrong way? There are

263
00:13:10,679 --> 00:13:12,400
Speaker 1: it is action being taken by the EU and all

264
00:13:12,400 --> 00:13:12,960
Speaker 1: of these fronts.

265
00:13:13,280 --> 00:13:15,360
Speaker 2: I think, I think the European Union has the right

266
00:13:15,400 --> 00:13:18,400
Speaker 2: to put whatever language it wants in these agreements, whether

267
00:13:18,400 --> 00:13:21,120
Speaker 2: it's to benefit Europe or to and they and they

268
00:13:21,120 --> 00:13:23,320
Speaker 2: do need to do things that will benefit Europe because

269
00:13:23,320 --> 00:13:27,840
Speaker 2: Europe needs to catch up on growth, it's falling increasingly behind. However,

270
00:13:28,000 --> 00:13:30,280
Speaker 2: be careful when you do it, and be careful where

271
00:13:30,320 --> 00:13:34,080
Speaker 2: you do it, because if you may cut out joint ventures,

272
00:13:34,080 --> 00:13:37,800
Speaker 2: you may cut out opportunities to work together on technology

273
00:13:37,880 --> 00:13:41,400
Speaker 2: or research that would actually be damaging to the European economy.

274
00:13:41,400 --> 00:13:43,280
Speaker 2: This is why I say we need we need pro

275
00:13:43,320 --> 00:13:49,440
Speaker 2: growth policies in Europe that are focused on increasing economic growth,

276
00:13:49,640 --> 00:13:52,920
Speaker 2: and we need deregulation not simplification. It's not that the

277
00:13:52,960 --> 00:13:55,360
Speaker 2: problem isn't that we've got a bunch of law regulations

278
00:13:55,360 --> 00:13:57,840
Speaker 2: that are too complicated. Although you do have a bunch

279
00:13:57,840 --> 00:14:00,640
Speaker 2: of regulations that are too complicated, the problem is you

280
00:14:00,679 --> 00:14:04,040
Speaker 2: just have too many regulations period. And this isn't just

281
00:14:04,120 --> 00:14:06,800
Speaker 2: me saying this as the ambassador from the United States,

282
00:14:07,080 --> 00:14:10,920
Speaker 2: but Chancellor Merrit's has been very very vocal about this recently,

283
00:14:11,000 --> 00:14:14,040
Speaker 2: as has Prime Minister Devember. They've been out saying, look,

284
00:14:14,080 --> 00:14:17,120
Speaker 2: we've got too much regulation. We've become the champion of regulation,

285
00:14:17,200 --> 00:14:20,440
Speaker 2: and that's been at the sacrifice of innovation and Europe.

286
00:14:20,480 --> 00:14:24,080
Speaker 2: You know, we're within I don't know, five hundred miles

287
00:14:24,120 --> 00:14:27,240
Speaker 2: of the greatest accomplishments in human history from from the

288
00:14:27,280 --> 00:14:31,360
Speaker 2: perspective of innovation. That's that's not happening here because we

289
00:14:31,400 --> 00:14:33,480
Speaker 2: have a lack of lack of people that are innovative.

290
00:14:33,800 --> 00:14:37,120
Speaker 2: It's not happening here because they're being regulated off the continent,

291
00:14:37,520 --> 00:14:40,160
Speaker 2: and it's something that needs to be addressed, I think

292
00:14:40,280 --> 00:14:40,840
Speaker 2: very quickly.

293
00:14:40,960 --> 00:14:43,480
Speaker 1: Okay, well, we thank you for bringing us your analysis

294
00:14:43,520 --> 00:14:46,200
Speaker 1: of thought on your viewpoint this morning. The US and Bossters,

295
00:14:46,240 --> 00:14:48,480
Speaker 1: the European Union. Andrew Poster, thank you very much for.

296
00:14:48,560 --> 00:14:50,280
Speaker 3: My pleasure to both of you. Thank you