WEBVTT - US Ambassador to EU Andrew Puzder Talks 'Made in Europe'

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<v Speaker 1>Bloomberg Audio Studios, Podcasts, Radio News. Well, let's turn back

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<v Speaker 1>to that interview now. After a tumultuous year for relations

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<v Speaker 1>between the United States and Europe, are things starting to improve?

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<v Speaker 1>The process to approve the Framework Trade agreementertain the US

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<v Speaker 1>and EU agreed last summer is progressing through the European

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<v Speaker 1>Parliament after being disrupted by President Trump's threats over Greenland?

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<v Speaker 1>So what next for Transatlantic ties? Were joined by Andrew

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<v Speaker 1>Posterer and ed, the US Ambassador to the European Union.

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<v Speaker 1>Good morning, Great to have you with us. Thanks even

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<v Speaker 1>great to be here in the studio. Before we get

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<v Speaker 1>into the trade conversation, I just wanted to ask you

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<v Speaker 1>about the story that is leading our agendas this morning

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<v Speaker 1>about Iran and the potential for US military intervention there.

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<v Speaker 1>I'm wondering what sort of conversations you're having with your

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<v Speaker 1>European colleagues about that issue this morning. Are they concerned

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<v Speaker 1>about what happens next in Iran?

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<v Speaker 2>Really, everything I know about that issue I learned from

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<v Speaker 2>Paul Wallace as I was getting ready to do a

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<v Speaker 2>TV interview on Bloomberg this morning. You know, as president

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<v Speaker 2>President Trump wants to be the peace president and has

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<v Speaker 2>been the peace president across the globe in a number

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<v Speaker 2>of conflicts. But he's also willing to strike the decisively

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<v Speaker 2>if he feels America's interest or the interests.

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<v Speaker 3>Of our allies are are at risk.

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<v Speaker 2>So I don't have any inside information, and I really

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<v Speaker 2>have not had conversations with any of the anybody.

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<v Speaker 3>Nobody raises that.

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<v Speaker 2>I was in an event last night to celebrate the

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<v Speaker 2>birthday of the Japanese Emperor at the Japanese Mission. We

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<v Speaker 2>saw a number of perm reps and.

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<v Speaker 1>One of your best parties.

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<v Speaker 3>Well it's a good one. They have great food. I'll

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<v Speaker 3>tell you that.

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<v Speaker 2>The Uh, it was great to see everybody, But nobody

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<v Speaker 2>asked about Iran. That wasn't a topic. Then, you know,

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<v Speaker 2>they you talk about the trade deal, you talk about

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<v Speaker 2>critical minerals, you talk about regulatory reform, deregulation. Uh, but

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<v Speaker 2>nobody really brought up Iran.

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<v Speaker 4>Okay, So well, let's see what happens with the deadline

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<v Speaker 4>that that President Trump has has given and what the

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<v Speaker 4>reaction will be its trade deal. Let's talk about it.

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<v Speaker 4>The European Parliament has added a number of conditions, including

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<v Speaker 4>a time limit for the trade deal of twenty twenty

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<v Speaker 4>eight and a suspension clause if the US imposes higher tariffs.

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<v Speaker 4>Are you happy with those conditions?

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<v Speaker 3>Well, the conditions came out of the committee.

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<v Speaker 2>These they were not they have not been passed by

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<v Speaker 2>Parliament yet that they come before Parliament on March ninth,

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<v Speaker 2>when they're in plnary session in Strasbourg, which I intend

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<v Speaker 2>to go to. I think it's important for the United

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<v Speaker 2>States to let people know we think this is a

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<v Speaker 2>big issue. We'll be there. Then it will go. Since

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<v Speaker 2>the Council approved the trade deal as the Commission signed it.

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<v Speaker 2>On the theory the deal is a deal, there'll be

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<v Speaker 2>a trilog or in the United States what we'd call reconciliation.

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<v Speaker 2>But there'll be a trilog here where the Council and

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<v Speaker 2>the Parliament will discuss those amendments and we'll we'll have

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<v Speaker 2>to see what comes out. I'd hate to compliment, I'd

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<v Speaker 2>hate to make comment about any of them prematurely, and

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<v Speaker 2>they really haven't been voted on by Parliament yet.

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<v Speaker 1>I think I think, if you're going, do you plan

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<v Speaker 1>to what do you plan to say to the members

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<v Speaker 1>of the European Parliament at the planary session?

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<v Speaker 2>But I plan to be there in case they have

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<v Speaker 2>questions about what the United States position is on any

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<v Speaker 2>of this and how important the trade deal is to us.

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<v Speaker 2>I think that, you know, just my being there will

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<v Speaker 2>I think, make a statement about how important the deal

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<v Speaker 2>is to us. So I want to. I want to

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<v Speaker 2>make that statement. There's also some I have friends in

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<v Speaker 2>the Parliament now who i'd like to get together with

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<v Speaker 2>to see how they're doing. And I have some individuals

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<v Speaker 2>i'd like to meet with who I haven't met with

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<v Speaker 2>yet in Parliament.

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<v Speaker 3>So hopefully I'll do some of that.

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<v Speaker 2>But on the Sunset provision, you know that one in

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<v Speaker 2>particular seems a little strange to me. And we just

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<v Speaker 2>spent Josh, they so long trying to get the European

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<v Speaker 2>Union to approve the last deal that they agreed to.

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<v Speaker 2>When was it in July, i think right, And the

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<v Speaker 2>United States in August did everything we promised to do

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<v Speaker 2>in the trade deal we executed. Now we've been waiting

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<v Speaker 2>for nine months for Europe to do anything because it

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<v Speaker 2>has to go through this process before it can act.

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<v Speaker 2>And I hate to think that in a couple of

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<v Speaker 2>years we're going to do all this again. Although President

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<v Speaker 2>Trump might like it, he'd probably want to raise the

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<v Speaker 2>tariffs once again, I don't know that he's I don't

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<v Speaker 2>know that he's a big fan of lowering them to

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<v Speaker 2>fifteen percent, but well he might be. I shouldn't comment

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<v Speaker 2>on that. I'm only being half serious. That's probably a

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<v Speaker 2>mistake on the radio.

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<v Speaker 1>But one of the issues that the European Parliament Committee

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<v Speaker 1>took issue with was the higher tariffs that are on

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<v Speaker 1>steel altominium products as well. There's this question of a

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<v Speaker 1>list of derivative products that use these metals as well,

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<v Speaker 1>which has been a particular bone of contention for the EU.

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<v Speaker 1>Are there changes of foot there, is there a hope

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<v Speaker 1>for progress on those issues?

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<v Speaker 3>Yeah, it is.

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<v Speaker 2>The derivatives were a big issue even before anything arose

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<v Speaker 2>about Greenland, So that was something that Burn Longe, who

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<v Speaker 2>chairs the committee that approved the amended the amendments to

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<v Speaker 2>the bill and the bill that's going before the Parliament

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<v Speaker 2>on the ninth there, he's always been concerned about that

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<v Speaker 2>and there I am told by people I know at

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<v Speaker 2>the US Trade Representative's office in the Commerce Department that

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<v Speaker 2>we have what we hope is a solution to some

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<v Speaker 2>of those issues. We'll have to see whether it's in

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<v Speaker 2>a solution that's acceptable to the EU. I would also

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<v Speaker 2>mention though, that the EU's Carbon Border Adjustment Mechanism, which

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<v Speaker 2>is another non barrier, non non tariff trade barrier, and

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<v Speaker 2>those are mentioned extensively in the in the Framework Agreement,

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<v Speaker 2>does basically the same thing. It puts a tax on

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<v Speaker 2>US products that have you know, these these elements as well.

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<v Speaker 2>It's the washing machines and motorcycles. The same things are

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<v Speaker 2>covered by the derivative tax end by the Carbon Border

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<v Speaker 2>Adjustment mechanism. So hopefully we'll be able to resolve both

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<v Speaker 2>of those issues. But let's get let's get a vote

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<v Speaker 2>out of Parliament, let's get a bill out of the

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<v Speaker 2>trialog proceeding, and then I think we can go from there.

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<v Speaker 4>In terms of the other major threads, there is this

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<v Speaker 4>debate going on within the European Commission about the maide

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<v Speaker 4>in Europe Plan, the rules on the preference of products

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<v Speaker 4>made within the EU. You've talked about your concerns, they're

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<v Speaker 4>already but you're worried about that particular issue and whether

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<v Speaker 4>it will have a big impact on US companies if

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<v Speaker 4>the Eupean Commission focuses on made in Europe rules, well.

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<v Speaker 3>They made in Europe.

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<v Speaker 2>Rules would be a direct contravention of the not only

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<v Speaker 2>the terms, but the spirit of the framework trade agreement

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<v Speaker 2>that was agreed to in Scotland, because we've agreed not

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<v Speaker 2>to have those kinds of preferences between our two countries,

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<v Speaker 2>and I think adopting them would would be a serious mistake.

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<v Speaker 2>I would say, particularly in the area of defense, because

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<v Speaker 2>we have a very intermixed defense industrial base between the

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<v Speaker 2>United States and Europe. Many of the weapons, the armaments

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<v Speaker 2>that we're using not only in NATO but also shipping

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<v Speaker 2>to Ukraine, have production capacities in Europe as well as

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<v Speaker 2>the United States, and the machines that make them. Some

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<v Speaker 2>are made in the Czech Republic, in Finland, some are

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<v Speaker 2>made in the US. There's a very intermixed supply chain,

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<v Speaker 2>a defense industrial base, and a focus on having our

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<v Speaker 2>defense products be interoperable. In other words, that if we

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<v Speaker 2>are if we're a NATO member and we're producing military hardware,

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<v Speaker 2>we want it to be we want to you know,

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<v Speaker 2>we can't have it. You know, you working for different

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<v Speaker 2>sized train rails or weights that are that don't work

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<v Speaker 2>on European highways. We have to have these things interoperable,

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<v Speaker 2>and these by europe preference, particularly in these defense procurement initiatives,

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<v Speaker 2>is a real threat to our defense industrial base and

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<v Speaker 2>that worries me a lot.

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<v Speaker 1>Are you engaging with the European Commission on this? If

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<v Speaker 1>you spoken to Commissioner Stefan Sorne.

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<v Speaker 2>Yes, And we're engaging with the Parliament, We're engaging with

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<v Speaker 2>members of Council. Actually, Matt Whitaker, who's the US ambassador

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<v Speaker 2>to NATO, and I have an article coming out on

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<v Speaker 2>this next week which will be in Political which is

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<v Speaker 2>kind of a competitor viewers. But if you guys want

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<v Speaker 2>to run our opts, I'll talk to you afterwards.

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<v Speaker 1>But if you want to tell us what's in US

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<v Speaker 1>would be uh would be useful for this because I

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<v Speaker 1>think there's quite a lot of listening to you now,

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<v Speaker 1>there'll be probably quite a lot of ambassadors and members

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<v Speaker 1>of the European Commission would be quite concerned that perhaps this

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<v Speaker 1>plan may upset the US trade relationship. Is this an

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<v Speaker 1>issue that you could see becoming much bigger?

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<v Speaker 3>I think we'll negotiate.

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<v Speaker 2>I think we'll negotiate through this because I just don't

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<v Speaker 2>I don't think it's a wise thing to do with

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<v Speaker 2>particularly with respect to our defense industrial base, because the

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<v Speaker 2>more you break that up, you know, it may it

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<v Speaker 2>may help the economy of certain countries, but that's really

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<v Speaker 2>not the purpose of the defense industrial base. That's really

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<v Speaker 2>not the purpose of these funding mechanisms. If you want

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<v Speaker 2>to have a funding mechanism to build up Europe's production capacity,

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<v Speaker 2>you know, have a loan program that does that. If

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<v Speaker 2>you're making a loan, If you have a loan program.

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<v Speaker 2>The desire their designed to help Ukraine win the war

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<v Speaker 2>in Ukraine, to defeat the Russians. Well, then they ought

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<v Speaker 2>to be able to buy whatever they want from wherever

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<v Speaker 2>they want, so that they can win the war. I mean,

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<v Speaker 2>they've been Nobody thought they would last two weeks this said,

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<v Speaker 2>we're going into our fourth year and they're uh, you know,

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<v Speaker 2>they've changed warfare. Literally, they took out forty percent of

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<v Speaker 2>the Russians. Multiply whoever thought this would all happen. So

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<v Speaker 2>they should be able to purchase what they want. With

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<v Speaker 2>respect to NATO, NATO member states should also be able

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<v Speaker 2>to purchase what they want, what they need to meet

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<v Speaker 2>their defense needs. So when the European Union comes up

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<v Speaker 2>with these defense procurement initiatives, these funding mechanisms, these loan

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<v Speaker 2>mechanisms to put in European preference language can be a

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<v Speaker 2>very dangerous things because it weakens our joint defense efforts.

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<v Speaker 4>Ambassador, the REALM Europe program aims to have more than

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<v Speaker 4>fifty percent of weapons made in the EU. That that's

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<v Speaker 4>the plan. And the question attached to that is because

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<v Speaker 4>there are doubts in Europe about whether the US is

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<v Speaker 4>a reliable partner for defense supplies.

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<v Speaker 2>Well, I'll tell you the defense industrial base is filled

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<v Speaker 2>with joint ventures and joint efforts by American and European manufacturers,

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<v Speaker 2>also Japanese manufacturers, and this is we have a very

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<v Speaker 2>integrated system here.

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<v Speaker 3>And I think.

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<v Speaker 2>That that approach to military spending, to defense spending ignores

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<v Speaker 2>many things, including the was it eighty year eighty year

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<v Speaker 2>old NATO alliance and the effectiveness of that alligned.

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<v Speaker 1>Twice a lot in the past year. I think that

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<v Speaker 1>has a lot of people questioning elements of the NATO alliance.

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<v Speaker 1>Is it fair for them to question this element as well?

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<v Speaker 3>Well? Not really.

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<v Speaker 2>The United States is not withdrawing from NATO, and the

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<v Speaker 2>President has made that clear and the Secretary of State

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<v Speaker 2>has made that clear. You don't need the Ambassador to

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<v Speaker 2>the EU to make that clear. Matt Whittaker says it.

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<v Speaker 2>Our ambassador to NATO says it probably ten times a week.

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<v Speaker 2>We are here. We have we have more troops here

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<v Speaker 2>in Europe than all of the European militaries added together.

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<v Speaker 2>You know, we've got our nuclear umbrella that protects Europe.

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<v Speaker 2>That's not you know, it's not going anywhere, and if

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<v Speaker 2>it did go somewhere, it's not something that Europe would

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<v Speaker 2>be able to replace.

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<v Speaker 1>So I think if Vanuel Macron would like to what's

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<v Speaker 1>what's your view of that plan.

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<v Speaker 3>Well, you'd sure have to make a whole lot more.

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<v Speaker 2>He produce a whole lot more nuclear weapons than he

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<v Speaker 2>has currently, and I don't know that France is in

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<v Speaker 2>a particularly advantageous economic position to do that at the moment.

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<v Speaker 1>I think France, your message to the U is, but

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<v Speaker 1>you don't have to worry about the nuclear umbrella, that

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<v Speaker 1>that's perfectly safe.

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<v Speaker 2>You can't you can't match it, and and nobody's talking

0:11:49.440 --> 0:11:52.000
<v Speaker 2>about taking it away. So let's let's focus on things

0:11:52.000 --> 0:11:55.040
<v Speaker 2>that are actually important that we actually can do. Let's

0:11:55.040 --> 0:11:58.080
<v Speaker 2>talk about strengthening NATO let's let's talk about building up

0:11:58.120 --> 0:12:01.800
<v Speaker 2>the European economy, but do you regulation and having pro

0:12:01.840 --> 0:12:05.320
<v Speaker 2>growth policies so that Europe can actually meet this five

0:12:05.360 --> 0:12:08.920
<v Speaker 2>percent of GDP requirement that they've agreed to with NATO.

0:12:09.440 --> 0:12:11.360
<v Speaker 2>Poland was out. I think it is either the Prime

0:12:11.360 --> 0:12:13.720
<v Speaker 2>minister or the President of Poland was out just last

0:12:13.720 --> 0:12:14.559
<v Speaker 2>week saying, look.

0:12:14.360 --> 0:12:15.680
<v Speaker 3>We're at five percent.

0:12:16.040 --> 0:12:18.000
<v Speaker 2>But the only way we've gotten here is we've got

0:12:18.080 --> 0:12:20.800
<v Speaker 2>pretty good economic growth. So tax revenue is going up

0:12:20.880 --> 0:12:24.120
<v Speaker 2>because we have growth. Well, the rest of Europe really.

0:12:23.800 --> 0:12:24.880
<v Speaker 3>Doesn't have that growth.

0:12:24.920 --> 0:12:28.880
<v Speaker 2>I mean, we're seeing GDP declines, We're seeing declines and

0:12:28.920 --> 0:12:31.720
<v Speaker 2>standards of living, and we need to see those things

0:12:32.320 --> 0:12:35.240
<v Speaker 2>re energize. We need to see reindustrialization, We need to

0:12:35.240 --> 0:12:38.440
<v Speaker 2>see Europe participating in the AI economy. We need to

0:12:38.440 --> 0:12:41.679
<v Speaker 2>see the kinds of growth that Europe talks about. Competitiveness,

0:12:41.679 --> 0:12:44.440
<v Speaker 2>I'm not I wish they would stop talking about how

0:12:44.440 --> 0:12:46.280
<v Speaker 2>they're going to compete with other people and just talk

0:12:46.280 --> 0:12:49.160
<v Speaker 2>about how they're going to grow their economy. Europeans need,

0:12:49.200 --> 0:12:51.760
<v Speaker 2>the European economy needs to grow. When it grows, it

0:12:51.800 --> 0:12:52.600
<v Speaker 2>will be competitive.

0:12:52.640 --> 0:12:54.200
<v Speaker 1>Yeah, and I think there's a lot of the ministers

0:12:54.240 --> 0:12:56.320
<v Speaker 1>who would agree with you that the issues of competitiveness

0:12:56.360 --> 0:12:59.080
<v Speaker 1>and growth are intertwined. But you know part of the

0:12:59.120 --> 0:13:02.719
<v Speaker 1>plan and you talk about intus relation is the industrial

0:13:03.080 --> 0:13:06.240
<v Speaker 1>accelerator acts that's going to have we're told by the

0:13:06.240 --> 0:13:08.280
<v Speaker 1>debates going on, this's made in europe life. So is

0:13:08.559 --> 0:13:10.520
<v Speaker 1>that they're going about it the wrong way? There are

0:13:10.679 --> 0:13:12.400
<v Speaker 1>it is action being taken by the EU and all

0:13:12.400 --> 0:13:12.960
<v Speaker 1>of these fronts.

0:13:13.280 --> 0:13:15.360
<v Speaker 2>I think, I think the European Union has the right

0:13:15.400 --> 0:13:18.400
<v Speaker 2>to put whatever language it wants in these agreements, whether

0:13:18.400 --> 0:13:21.120
<v Speaker 2>it's to benefit Europe or to and they and they

0:13:21.120 --> 0:13:23.320
<v Speaker 2>do need to do things that will benefit Europe because

0:13:23.320 --> 0:13:27.840
<v Speaker 2>Europe needs to catch up on growth, it's falling increasingly behind. However,

0:13:28.000 --> 0:13:30.280
<v Speaker 2>be careful when you do it, and be careful where

0:13:30.320 --> 0:13:34.080
<v Speaker 2>you do it, because if you may cut out joint ventures,

0:13:34.080 --> 0:13:37.800
<v Speaker 2>you may cut out opportunities to work together on technology

0:13:37.880 --> 0:13:41.400
<v Speaker 2>or research that would actually be damaging to the European economy.

0:13:41.400 --> 0:13:43.280
<v Speaker 2>This is why I say we need we need pro

0:13:43.320 --> 0:13:49.440
<v Speaker 2>growth policies in Europe that are focused on increasing economic growth,

0:13:49.640 --> 0:13:52.920
<v Speaker 2>and we need deregulation not simplification. It's not that the

0:13:52.960 --> 0:13:55.360
<v Speaker 2>problem isn't that we've got a bunch of law regulations

0:13:55.360 --> 0:13:57.840
<v Speaker 2>that are too complicated. Although you do have a bunch

0:13:57.840 --> 0:14:00.640
<v Speaker 2>of regulations that are too complicated, the problem is you

0:14:00.679 --> 0:14:04.040
<v Speaker 2>just have too many regulations period. And this isn't just

0:14:04.120 --> 0:14:06.800
<v Speaker 2>me saying this as the ambassador from the United States,

0:14:07.080 --> 0:14:10.920
<v Speaker 2>but Chancellor Merrit's has been very very vocal about this recently,

0:14:11.000 --> 0:14:14.040
<v Speaker 2>as has Prime Minister Devember. They've been out saying, look,

0:14:14.080 --> 0:14:17.120
<v Speaker 2>we've got too much regulation. We've become the champion of regulation,

0:14:17.200 --> 0:14:20.440
<v Speaker 2>and that's been at the sacrifice of innovation and Europe.

0:14:20.480 --> 0:14:24.080
<v Speaker 2>You know, we're within I don't know, five hundred miles

0:14:24.120 --> 0:14:27.240
<v Speaker 2>of the greatest accomplishments in human history from from the

0:14:27.280 --> 0:14:31.360
<v Speaker 2>perspective of innovation. That's that's not happening here because we

0:14:31.400 --> 0:14:33.480
<v Speaker 2>have a lack of lack of people that are innovative.

0:14:33.800 --> 0:14:37.120
<v Speaker 2>It's not happening here because they're being regulated off the continent,

0:14:37.520 --> 0:14:40.160
<v Speaker 2>and it's something that needs to be addressed, I think

0:14:40.280 --> 0:14:40.840
<v Speaker 2>very quickly.

0:14:40.960 --> 0:14:43.480
<v Speaker 1>Okay, well, we thank you for bringing us your analysis

0:14:43.520 --> 0:14:46.200
<v Speaker 1>of thought on your viewpoint this morning. The US and Bossters,

0:14:46.240 --> 0:14:48.480
<v Speaker 1>the European Union. Andrew Poster, thank you very much for.

0:14:48.560 --> 0:14:50.280
<v Speaker 3>My pleasure to both of you. Thank you