1 00:00:01,600 --> 00:00:06,120 Speaker 1: Now from our nation's capital. This is Bloomberg's sound On. 2 00:00:07,080 --> 00:00:10,520 Speaker 1: These negotiations do not bear any fruit. The Senate will 3 00:00:10,600 --> 00:00:13,680 Speaker 1: vote on gun safety legislation when we return. So we 4 00:00:13,680 --> 00:00:16,919 Speaker 1: got to do some laws you're having before this election, 5 00:00:17,280 --> 00:00:21,400 Speaker 1: like your life depends upon it. Floomberg Sound on Politics, 6 00:00:21,480 --> 00:00:25,520 Speaker 1: Policy and Perspective from DC's top names. This is a 7 00:00:25,560 --> 00:00:29,159 Speaker 1: classic example of taking advantage for political purposes. There was 8 00:00:29,200 --> 00:00:33,080 Speaker 1: no productive discussion today. We now have more guns in 9 00:00:33,120 --> 00:00:36,920 Speaker 1: the United States than we have citizens. Bloomberg Sound On 10 00:00:37,080 --> 00:00:42,239 Speaker 1: with Joe Matthew on Bloomberg Radio. A new lane opens 11 00:00:42,320 --> 00:00:46,360 Speaker 1: for a possible compromise on guns. Welcome to the fastest 12 00:00:46,360 --> 00:00:49,839 Speaker 1: hour in politics with news from the Capitol and a 13 00:00:49,920 --> 00:00:53,640 Speaker 1: grain of salts as Democrats and Republicans discuss solutions in 14 00:00:53,680 --> 00:00:56,400 Speaker 1: the wake of the Texas shooting. Coming up, we will 15 00:00:56,440 --> 00:01:00,560 Speaker 1: hear exclusively from Senator Ben Cardon, Democrat from Maryland, and 16 00:01:00,680 --> 00:01:04,120 Speaker 1: Matt Bennett from Third Way, an advisor for Sandy Hook Promise, 17 00:01:04,160 --> 00:01:07,040 Speaker 1: who worked with then Vice President Joe Biden in the 18 00:01:07,080 --> 00:01:10,760 Speaker 1: wake of Newtown. Later Secretary of State Anthony B. Lincoln 19 00:01:10,800 --> 00:01:13,640 Speaker 1: takes aim at China today, vowing to steer around Beijing 20 00:01:13,720 --> 00:01:17,240 Speaker 1: to shape the global order. We'll have his remarks direct 21 00:01:17,720 --> 00:01:20,760 Speaker 1: shot at President she today with analysis from d J. 22 00:01:20,920 --> 00:01:25,000 Speaker 1: Peterson of Longview Global Advisors, The Sound on Panelism Place 23 00:01:25,000 --> 00:01:28,759 Speaker 1: Bloomberg Politics contributors Jeanie Schanzano and Rick Davis for the Hour. 24 00:01:29,480 --> 00:01:32,440 Speaker 1: It's still hard to tell forty eight hours later, if 25 00:01:32,480 --> 00:01:35,800 Speaker 1: the Texas school shooting will move lawmakers in Washington to 26 00:01:35,880 --> 00:01:39,080 Speaker 1: do something. But there is talk. There's talk balanced by 27 00:01:39,080 --> 00:01:42,839 Speaker 1: a lot of skepticism. Today Senate Majority Leader Chuck Schumer 28 00:01:42,920 --> 00:01:46,520 Speaker 1: speaking to a very short window of opportunity. Senator Murphy, 29 00:01:46,800 --> 00:01:49,320 Speaker 1: who has been such a strong and valiant leader within 30 00:01:49,360 --> 00:01:52,680 Speaker 1: our caucus on gun safety legislation, and who has seen 31 00:01:52,720 --> 00:01:55,559 Speaker 1: the suffering first hands of the families at Sandy Hook, 32 00:01:55,560 --> 00:01:58,960 Speaker 1: who's he's become very close to, has asked for space 33 00:01:59,680 --> 00:02:03,440 Speaker 1: to see what progress can be done with Senate Republicans. 34 00:02:04,240 --> 00:02:06,360 Speaker 1: But it does not sound like Shumer plans to give 35 00:02:06,560 --> 00:02:10,239 Speaker 1: Senator Murphy very long. I want to be clear, this 36 00:02:10,320 --> 00:02:14,480 Speaker 1: is not an invite to negotiate indefinitely, make no mistake 37 00:02:14,560 --> 00:02:18,800 Speaker 1: about it. If these negotiations do not bear fruit in 38 00:02:18,840 --> 00:02:22,240 Speaker 1: a short period of time, the Senate will vote on 39 00:02:22,360 --> 00:02:27,480 Speaker 1: gun legislation. Gun safety legislation. Let me repeat, if these 40 00:02:27,560 --> 00:02:31,080 Speaker 1: negotiations do not bear any fruit, the Senate will vote 41 00:02:31,080 --> 00:02:34,520 Speaker 1: on gun safety legislation when we return, so a couple 42 00:02:34,520 --> 00:02:38,560 Speaker 1: of weeks, possibly a few weeks. Democrats may have just 43 00:02:38,600 --> 00:02:42,480 Speaker 1: found a partner in Senator John Cornyn. This is important, 44 00:02:42,480 --> 00:02:45,320 Speaker 1: the Republican senator from Texas today on the floor. I'm 45 00:02:45,360 --> 00:02:50,840 Speaker 1: not interested in making a political statement. I'm not interested 46 00:02:50,880 --> 00:02:54,000 Speaker 1: in the same old, tired talking points. I'm actually interested 47 00:02:54,000 --> 00:02:56,960 Speaker 1: in what we can do to make the terrible events 48 00:02:57,000 --> 00:03:00,640 Speaker 1: that occurred in your value less likely in the future. 49 00:03:02,000 --> 00:03:04,080 Speaker 1: And now we don't know everything we need to know. 50 00:03:04,760 --> 00:03:07,840 Speaker 1: But once we do, I expect there will be an 51 00:03:07,840 --> 00:03:12,200 Speaker 1: informed debate about reforms we can make, and I look 52 00:03:12,200 --> 00:03:15,480 Speaker 1: forward to participating in those discussions. Corn And warning against 53 00:03:15,680 --> 00:03:18,960 Speaker 1: taking gun rights from law abiding citizens. He seems open 54 00:03:19,000 --> 00:03:21,400 Speaker 1: to red flag laws, maybe some other ideas to keep 55 00:03:21,400 --> 00:03:26,520 Speaker 1: guns out of the hands of dangerous people. Senator Murphy meantime, 56 00:03:26,520 --> 00:03:29,280 Speaker 1: was outside along with several other Senators, gathered along with 57 00:03:29,320 --> 00:03:32,040 Speaker 1: gun safety advocates while facing the Supreme Court to press 58 00:03:32,080 --> 00:03:35,120 Speaker 1: for action. He says a compromise must be found by 59 00:03:35,120 --> 00:03:38,160 Speaker 1: the time the Senate returns from a week long recess 60 00:03:38,200 --> 00:03:41,520 Speaker 1: starting Friday. I spoke a short time ago exclusively with 61 00:03:41,560 --> 00:03:45,119 Speaker 1: Senator Ben Carton, Democrat from Maryland, asked him if there 62 00:03:45,280 --> 00:03:49,360 Speaker 1: was indeed a new sense of optimism. Rius. We just 63 00:03:49,520 --> 00:03:55,080 Speaker 1: shocked by what happened in Texas. It just ripped your heart. Uh, 64 00:03:55,120 --> 00:03:59,280 Speaker 1: seven and ten year olds losing their life. Enough enough, 65 00:03:59,480 --> 00:04:02,800 Speaker 1: We've got to act. We've got to come together. So 66 00:04:02,840 --> 00:04:05,280 Speaker 1: I think Senator Schumer is doing exactly the right thing 67 00:04:05,760 --> 00:04:08,920 Speaker 1: and saying to our colleagues, let us come together, let's 68 00:04:08,920 --> 00:04:12,200 Speaker 1: put together a bipartisan bill, and let's get it done. Um. 69 00:04:12,600 --> 00:04:15,600 Speaker 1: I am certain that it will not satisfy what I 70 00:04:15,600 --> 00:04:18,240 Speaker 1: would like to be done. Let's show that the American 71 00:04:18,279 --> 00:04:20,520 Speaker 1: public that we are not going to take the option 72 00:04:20,600 --> 00:04:24,200 Speaker 1: of doing nothing, which is unacceptable. There are there's a 73 00:04:24,200 --> 00:04:27,600 Speaker 1: conversation underway right now about background checks and about red 74 00:04:27,640 --> 00:04:30,760 Speaker 1: flag laws as opposed to actually trying to crack down 75 00:04:30,960 --> 00:04:33,960 Speaker 1: on firearms. Is that the right approach. What I'd like 76 00:04:34,000 --> 00:04:36,800 Speaker 1: to see done is certainly closed. The loopholes in the 77 00:04:36,839 --> 00:04:41,400 Speaker 1: background check red flags are consistent with that. We need 78 00:04:41,440 --> 00:04:45,080 Speaker 1: to deal with the military style UH and high capacity 79 00:04:45,760 --> 00:04:50,400 Speaker 1: magazines that are out there that are the weapons choice 80 00:04:50,480 --> 00:04:53,520 Speaker 1: for those who want to commit mass murders. So I 81 00:04:53,520 --> 00:04:55,200 Speaker 1: would hope that we would also be able to make 82 00:04:55,240 --> 00:04:58,840 Speaker 1: progress on dealing with weapons that I really have no 83 00:04:59,560 --> 00:05:04,240 Speaker 1: private use. These are really just weapons of war. They're 84 00:05:04,600 --> 00:05:07,760 Speaker 1: getting that done in the Senate, though, is the problem right? 85 00:05:07,760 --> 00:05:10,960 Speaker 1: Finding sixty votes for, for instance, an assault weapons ban 86 00:05:11,040 --> 00:05:14,200 Speaker 1: at the moment seems impossible. I am not optimistic we 87 00:05:14,240 --> 00:05:18,680 Speaker 1: can get the threshold for for assault weapons, but I 88 00:05:18,720 --> 00:05:22,040 Speaker 1: will point out the last time that we are deployed 89 00:05:22,080 --> 00:05:26,159 Speaker 1: that we save live uh proxibly, one out of every 90 00:05:26,240 --> 00:05:29,160 Speaker 1: four persons have been killed in these mass shootings has 91 00:05:29,200 --> 00:05:32,960 Speaker 1: been through an assault weapon type, So it will save lives, 92 00:05:33,400 --> 00:05:36,279 Speaker 1: and there is no real need for private ownership. So 93 00:05:36,760 --> 00:05:39,359 Speaker 1: I don't believe we can get it done, but it 94 00:05:39,520 --> 00:05:42,320 Speaker 1: is consequential and we should get it done. How about 95 00:05:42,360 --> 00:05:44,679 Speaker 1: the age to bio weapon Senator? A lot of people 96 00:05:44,680 --> 00:05:46,840 Speaker 1: are pointing out the fact they keep hearing about how 97 00:05:46,839 --> 00:05:49,359 Speaker 1: this eighteen year old should never been able to do this, 98 00:05:49,400 --> 00:05:52,200 Speaker 1: that you can't rent a car when you're eighteen years old. 99 00:05:52,320 --> 00:05:54,520 Speaker 1: Would it be that difficult to raise the age to 100 00:05:54,600 --> 00:05:57,680 Speaker 1: twenty one, even if nothing changed in terms of access 101 00:05:57,720 --> 00:06:00,640 Speaker 1: at that point. That's the point that we LEAs should 102 00:06:00,640 --> 00:06:04,520 Speaker 1: be considering. I think our healthcare professionals would tell us 103 00:06:04,520 --> 00:06:07,160 Speaker 1: that the teen year olds are still at that state 104 00:06:07,320 --> 00:06:10,520 Speaker 1: where their judgment may not be where we want them 105 00:06:10,520 --> 00:06:16,560 Speaker 1: to be in having the easiest ability to buy a firearm, 106 00:06:16,680 --> 00:06:21,080 Speaker 1: So at the stage difficult for us to get such 107 00:06:21,200 --> 00:06:24,839 Speaker 1: consensus here. But to me, that is a matter that 108 00:06:24,839 --> 00:06:28,320 Speaker 1: should be considered, and I personally believe should raise the age. 109 00:06:28,600 --> 00:06:30,480 Speaker 1: What's your message to your colleagues who are going to 110 00:06:30,520 --> 00:06:32,880 Speaker 1: be speaking at the n r A convention, Senator, I 111 00:06:32,920 --> 00:06:34,800 Speaker 1: would tell them that I'm not sure this is the 112 00:06:34,880 --> 00:06:39,520 Speaker 1: right moment. If they're gonna talk about getting things done 113 00:06:39,520 --> 00:06:42,919 Speaker 1: for gun safety, that's one thing. But if they're going 114 00:06:43,000 --> 00:06:45,200 Speaker 1: to talk about the n r A and there his 115 00:06:45,360 --> 00:06:48,280 Speaker 1: art positions, this would be the wrong time for that. 116 00:06:49,000 --> 00:06:51,919 Speaker 1: Do you have hope for the Mansion to Me amendment? 117 00:06:51,920 --> 00:06:55,200 Speaker 1: Are there any pieces of legislation available right now that 118 00:06:55,200 --> 00:06:57,000 Speaker 1: you would put your name on. Well, I would put 119 00:06:57,000 --> 00:06:59,400 Speaker 1: my name on several pieces of legislation, and I don't 120 00:06:59,440 --> 00:07:02,279 Speaker 1: think that's going to be the test. I would certainly 121 00:07:02,360 --> 00:07:07,200 Speaker 1: support any effort that would advance gun safety in this country. 122 00:07:07,640 --> 00:07:11,280 Speaker 1: Uh and bel to co sponsor and support the electriction 123 00:07:11,800 --> 00:07:14,800 Speaker 1: if it doesn't go far enough to really make a 124 00:07:15,320 --> 00:07:19,920 Speaker 1: significant difference in regards to the easy accessibility of military 125 00:07:19,920 --> 00:07:24,240 Speaker 1: doll weapons. And uh, the people are not responsible being 126 00:07:24,280 --> 00:07:27,080 Speaker 1: able to get guns. But I'm going to continue to voice, 127 00:07:27,840 --> 00:07:30,480 Speaker 1: but I would certainly support effort to move us in 128 00:07:30,480 --> 00:07:35,560 Speaker 1: the right direction. Senator Ben Cardon of Maryland Democrat expressing 129 00:07:35,680 --> 00:07:39,760 Speaker 1: urgency and skepticism. And we had another voice now in 130 00:07:39,920 --> 00:07:42,720 Speaker 1: Matt Bennett, the co founder of Third Way. He serves 131 00:07:42,720 --> 00:07:45,120 Speaker 1: on the board at Sandy Hook Promise, and importantly he 132 00:07:45,200 --> 00:07:48,760 Speaker 1: advised Joe Biden when he was vice president in the 133 00:07:48,800 --> 00:07:51,920 Speaker 1: aftermath of New Town, when Joe Biden was drawing up options, 134 00:07:51,960 --> 00:07:57,800 Speaker 1: as asked options beyond legislation for President Obama to pursue 135 00:07:57,800 --> 00:08:00,960 Speaker 1: at the time, Matt welcome. What executive options does President 136 00:08:01,000 --> 00:08:05,640 Speaker 1: Biden have? Not very many? Uh. We found that when 137 00:08:05,680 --> 00:08:09,920 Speaker 1: we were working back and we were uncovering every rock 138 00:08:10,080 --> 00:08:12,320 Speaker 1: in the federal code to try to figure out what 139 00:08:12,360 --> 00:08:16,760 Speaker 1: the president could do on his own authority to make, 140 00:08:17,240 --> 00:08:20,600 Speaker 1: you know, some progress in gun safety. And there were 141 00:08:20,600 --> 00:08:23,200 Speaker 1: a few things he could do. And there's some things 142 00:08:23,240 --> 00:08:26,760 Speaker 1: that President Biden has done as president involving ghost guns, 143 00:08:27,480 --> 00:08:30,880 Speaker 1: The thing that most gun city advocates are focused on 144 00:08:30,960 --> 00:08:34,680 Speaker 1: now is expanding the definition of what it means to 145 00:08:34,760 --> 00:08:37,560 Speaker 1: be in the business of selling firearms, because if you 146 00:08:37,600 --> 00:08:40,600 Speaker 1: can do that, you can sweep into the background check 147 00:08:40,720 --> 00:08:44,240 Speaker 1: process more people who now are pretending that they're not 148 00:08:44,679 --> 00:08:47,640 Speaker 1: licensed dealers and really are. That would help a little, 149 00:08:47,679 --> 00:08:51,160 Speaker 1: but it really can't do that much. I also can't 150 00:08:51,160 --> 00:08:53,120 Speaker 1: get the votes for a bill like that. We spoke 151 00:08:53,240 --> 00:08:57,440 Speaker 1: yesterday with Congressman Thompson, a Democrat from California with a 152 00:08:57,440 --> 00:08:59,959 Speaker 1: background check bill that passed the House and apparently doesn't 153 00:09:00,040 --> 00:09:02,840 Speaker 1: have a prayer in the Senate. Matt, based on what 154 00:09:02,880 --> 00:09:06,520 Speaker 1: you're hearing today, is there is there any opportunity for 155 00:09:06,600 --> 00:09:09,920 Speaker 1: conversation or is this the happy talk portion of the 156 00:09:09,960 --> 00:09:12,080 Speaker 1: program before we all know how it ends in the 157 00:09:12,160 --> 00:09:16,760 Speaker 1: last chapter. Well, uh, the bitter experience of twenty eight 158 00:09:16,880 --> 00:09:22,200 Speaker 1: years of no progress since its ban would suggest that 159 00:09:22,480 --> 00:09:25,400 Speaker 1: this is happy talk. But I don't want to take 160 00:09:25,440 --> 00:09:29,120 Speaker 1: off the table to possibility that senators like corn Corner 161 00:09:29,559 --> 00:09:32,960 Speaker 1: or genuine and do want to do something. A red 162 00:09:33,000 --> 00:09:36,640 Speaker 1: flag law would help, certainly, raising the age to buy 163 00:09:36,960 --> 00:09:42,079 Speaker 1: assault rifles and other rifles would help. But the really 164 00:09:42,120 --> 00:09:44,760 Speaker 1: big deal would be closing the loopholes in the background 165 00:09:44,800 --> 00:09:48,240 Speaker 1: checks system that allow people to buy guns on the 166 00:09:48,240 --> 00:09:50,880 Speaker 1: internet or at gun shows without going through background checks. 167 00:09:50,880 --> 00:09:53,560 Speaker 1: And that's just insane. We have got to plug. That 168 00:09:53,640 --> 00:09:56,440 Speaker 1: wouldn't have stopped this one, though, right, It would not 169 00:09:56,679 --> 00:09:58,880 Speaker 1: have stopped this one, that's right. He went through a 170 00:09:58,880 --> 00:10:01,480 Speaker 1: background check. The thing that would have stopped him was 171 00:10:01,760 --> 00:10:03,880 Speaker 1: raising the age to twenty one. Right. So I just 172 00:10:03,920 --> 00:10:06,840 Speaker 1: asked Senator Ben Cardon about that, that that's not going 173 00:10:06,880 --> 00:10:10,800 Speaker 1: to happen by executive order, that that actually takes sixty votes, 174 00:10:10,840 --> 00:10:13,840 Speaker 1: and that that's a long shot, right, correct, You can't 175 00:10:13,880 --> 00:10:16,240 Speaker 1: do that by executor where there's very little left on 176 00:10:16,280 --> 00:10:18,600 Speaker 1: the table for the president to do on its own authority. 177 00:10:19,000 --> 00:10:21,920 Speaker 1: Most of Democrats came to the table and said, God, 178 00:10:22,040 --> 00:10:23,480 Speaker 1: you could be able to get as many a R 179 00:10:23,600 --> 00:10:26,120 Speaker 1: fifteen as you want. This is not about gun control. 180 00:10:26,160 --> 00:10:30,800 Speaker 1: We're simply raising the age matters. That's still too far, apparently, 181 00:10:30,920 --> 00:10:33,199 Speaker 1: I mean it shouldn't be. The fact is that kid 182 00:10:33,240 --> 00:10:35,520 Speaker 1: couldn't have gone down to the seven eleven and bought 183 00:10:35,520 --> 00:10:38,480 Speaker 1: a white claw or a beer, but he could go 184 00:10:38,520 --> 00:10:41,120 Speaker 1: and buy two assault rifles and three fifty rounds of 185 00:10:41,120 --> 00:10:45,599 Speaker 1: ammunition that is insane, and any anyone who tries to 186 00:10:45,640 --> 00:10:47,520 Speaker 1: defend it is going to have a tough time with it. 187 00:10:47,880 --> 00:10:54,600 Speaker 1: But alas Republicans seem unwilling to go there. Fascinating conversation 188 00:10:54,679 --> 00:10:59,120 Speaker 1: when you explore how little actually this president has to 189 00:10:59,200 --> 00:11:02,640 Speaker 1: deal with here in terms of tools. Uh, Matt, you 190 00:11:02,679 --> 00:11:06,320 Speaker 1: know Joe Biden, having worked with him, this could be 191 00:11:06,360 --> 00:11:08,600 Speaker 1: a long year for him. What's it going to mean 192 00:11:08,679 --> 00:11:10,840 Speaker 1: for his presidency as we work up to the mid 193 00:11:10,960 --> 00:11:14,840 Speaker 1: term elections. I only have thirty seconds. Look, he feels 194 00:11:14,840 --> 00:11:18,200 Speaker 1: about this, uh with He approaches this issue with as 195 00:11:18,280 --> 00:11:20,880 Speaker 1: much passion as any He's been working on gun safety 196 00:11:20,880 --> 00:11:23,760 Speaker 1: for thirty years. He has lost two children, not to 197 00:11:23,840 --> 00:11:26,560 Speaker 1: gun violence, but he knows the pain. So he's up 198 00:11:26,600 --> 00:11:30,480 Speaker 1: to this fight, yes, and he knows these families. He's 199 00:11:30,760 --> 00:11:34,080 Speaker 1: desperately hoping to make progress on this, but also very 200 00:11:34,600 --> 00:11:36,679 Speaker 1: aware of how tough that's going to be. Come back 201 00:11:36,720 --> 00:11:39,760 Speaker 1: and talk to us. Matt Bennett on Bloomberg The Panels. 202 00:11:39,800 --> 00:11:44,640 Speaker 1: Next you're listening to Bloomberg, you sound on with Joe 203 00:11:44,679 --> 00:11:51,680 Speaker 1: Mathew on Bloomberg Radio. Grasping for some common grounds as 204 00:11:51,720 --> 00:11:55,480 Speaker 1: I read on the terminal gun school safety talks in 205 00:11:55,520 --> 00:12:00,439 Speaker 1: the Senate on a short timetable. They sure are asking 206 00:12:00,640 --> 00:12:05,400 Speaker 1: for common ground. Sounded like that at times today, other 207 00:12:05,480 --> 00:12:10,120 Speaker 1: times not, as political lines are reinforced on the issue 208 00:12:10,160 --> 00:12:12,440 Speaker 1: of guns. I mentioned a little while ago Chris Murphy, 209 00:12:12,480 --> 00:12:14,679 Speaker 1: the Senator from Connecticut, has been getting a lot of 210 00:12:14,720 --> 00:12:19,520 Speaker 1: attention on this because of of course Connecticut New Town, 211 00:12:19,640 --> 00:12:23,520 Speaker 1: Sandy Hook, and he's been a leader on this issue 212 00:12:23,880 --> 00:12:25,520 Speaker 1: without a heck of a lot to show for it. 213 00:12:26,280 --> 00:12:31,880 Speaker 1: He was outside outside the Capital complex today along with 214 00:12:31,880 --> 00:12:34,520 Speaker 1: a group of other Senators. Kirsten Gillibrand was there ed 215 00:12:34,600 --> 00:12:43,840 Speaker 1: Markey Sheldon white House to press the issue. We are 216 00:12:43,960 --> 00:12:47,520 Speaker 1: not going to allow this to become the new normal. 217 00:12:49,400 --> 00:12:53,599 Speaker 1: We are not prepared to allow our schools to continue 218 00:12:53,960 --> 00:12:59,560 Speaker 1: as killing fields. We are not prepared to allow the 219 00:12:59,600 --> 00:13:02,640 Speaker 1: gun bobby and the gun industry to continue to run 220 00:13:02,920 --> 00:13:06,959 Speaker 1: this town in this place. But what are you going 221 00:13:07,000 --> 00:13:11,760 Speaker 1: to do? It seems like red flag is where we're 222 00:13:11,760 --> 00:13:14,680 Speaker 1: going here, red flag laws keeping guns out of the 223 00:13:14,720 --> 00:13:17,840 Speaker 1: hands of dangerous people. As we just discussed with Senator 224 00:13:17,880 --> 00:13:21,719 Speaker 1: Ben Cardon. John Cornyn today, the Republican from Texas, who 225 00:13:21,760 --> 00:13:24,359 Speaker 1: said he might be ready to have some of these conversations, 226 00:13:24,400 --> 00:13:29,240 Speaker 1: though said it himself no panacea, and it wouldn't have 227 00:13:29,320 --> 00:13:31,520 Speaker 1: stopped at least as far as we know what happened 228 00:13:31,559 --> 00:13:35,000 Speaker 1: this week in Texas. That's a sum of the panel, 229 00:13:35,720 --> 00:13:37,240 Speaker 1: Rick and Janie or with us, I'm happy to say, 230 00:13:37,240 --> 00:13:41,160 Speaker 1: Bloomberg Politics contributors Genie Chanzano and Rick Davis, what do 231 00:13:41,200 --> 00:13:44,080 Speaker 1: you make of this? Genie? This is as I asked 232 00:13:44,120 --> 00:13:46,680 Speaker 1: Matt a little while ago. Is this you know, the 233 00:13:46,720 --> 00:13:48,800 Speaker 1: happy part of the show was the part of the 234 00:13:48,840 --> 00:13:50,960 Speaker 1: movie where people start to feel good. You might go 235 00:13:50,960 --> 00:13:52,960 Speaker 1: get a little more popcorn. By the time you come back, 236 00:13:52,960 --> 00:13:55,240 Speaker 1: we're back in the dark stuff and it ends just 237 00:13:55,320 --> 00:13:59,439 Speaker 1: like the one before, sad ending nothing changes. That's how 238 00:13:59,480 --> 00:14:01,920 Speaker 1: it's feeling. And I'm still reeling from your interview with 239 00:14:01,960 --> 00:14:04,720 Speaker 1: both Carton and Matt Bennett, because you know, Matt Bennett 240 00:14:04,760 --> 00:14:06,680 Speaker 1: just saying at the end of the truth, which is 241 00:14:06,760 --> 00:14:09,640 Speaker 1: that you can't at at the age of this shooter 242 00:14:09,840 --> 00:14:13,040 Speaker 1: go buy a a white claw at a seven eleven, 243 00:14:13,240 --> 00:14:16,079 Speaker 1: but you can buy two assault weapons. That is stunning. 244 00:14:16,360 --> 00:14:19,120 Speaker 1: And the fact that we have to push and push 245 00:14:19,200 --> 00:14:21,200 Speaker 1: and push after every one of these events to see 246 00:14:21,240 --> 00:14:23,520 Speaker 1: if we can get anywhere. And I think you're right. 247 00:14:23,560 --> 00:14:26,440 Speaker 1: We may get expanded background checks, we may get the 248 00:14:26,480 --> 00:14:29,800 Speaker 1: red and yellow flag laws that that that would be great. 249 00:14:29,880 --> 00:14:32,440 Speaker 1: That's a step forward, maybe a little step forward, But 250 00:14:32,520 --> 00:14:34,400 Speaker 1: you know, we're not going to get the age changed. 251 00:14:34,440 --> 00:14:36,800 Speaker 1: It looks like we're not going to deal with military 252 00:14:36,920 --> 00:14:40,160 Speaker 1: assault weapons. And those are the things that need to happen. 253 00:14:40,200 --> 00:14:42,440 Speaker 1: And I go back to what President Biden said in 254 00:14:42,480 --> 00:14:45,840 Speaker 1: his speech the other night, which is that these liberties 255 00:14:45,880 --> 00:14:48,040 Speaker 1: that people are talking about the right to bear arms, 256 00:14:48,240 --> 00:14:51,000 Speaker 1: none of these liberties have been absolute. They never have been. 257 00:14:51,240 --> 00:14:54,040 Speaker 1: You have no absolute right to own an assault weapon, 258 00:14:54,400 --> 00:14:57,800 Speaker 1: and no more than you have to go scream fire 259 00:14:57,800 --> 00:15:01,520 Speaker 1: in a crowded theater. So there are there is constitutional 260 00:15:01,520 --> 00:15:04,400 Speaker 1: ways to limit these these rights. And yet here we 261 00:15:04,440 --> 00:15:07,160 Speaker 1: are again after this horrific shooting and looks like nothing's 262 00:15:07,160 --> 00:15:08,920 Speaker 1: going to change in Congress. What do you make of 263 00:15:08,960 --> 00:15:12,800 Speaker 1: the age issue here, Rick, Is that not a conversation 264 00:15:12,840 --> 00:15:15,760 Speaker 1: to have that that that alone would have actually stopped, 265 00:15:16,200 --> 00:15:19,240 Speaker 1: you know, maybe this from happening this week. It would 266 00:15:19,240 --> 00:15:21,920 Speaker 1: have at least gotten to this individual as an eighteen 267 00:15:22,000 --> 00:15:25,120 Speaker 1: year old. Yeah, I think that that is premature for 268 00:15:25,200 --> 00:15:27,040 Speaker 1: us to say any of the stuffs off the table. 269 00:15:27,400 --> 00:15:29,920 Speaker 1: I think the key thing, uh in a turning point 270 00:15:30,000 --> 00:15:32,320 Speaker 1: on this discussion, which is different than what happened to 271 00:15:32,320 --> 00:15:36,440 Speaker 1: Sandy Hook and other mass shootings, is is that Democrats 272 00:15:36,480 --> 00:15:39,240 Speaker 1: and Republicans both took the moment to actually say that 273 00:15:39,320 --> 00:15:42,800 Speaker 1: they were prepared to consider some options. In other words, 274 00:15:42,800 --> 00:15:47,000 Speaker 1: there wasn't the kind of demo demagogic attacks that usually 275 00:15:47,280 --> 00:15:50,360 Speaker 1: are precipitated by these kinds of events, trying to take 276 00:15:50,400 --> 00:15:53,480 Speaker 1: political advantage. And so I think this is the opening 277 00:15:53,520 --> 00:15:55,720 Speaker 1: that a lot of people are now talking about. And 278 00:15:55,720 --> 00:15:59,200 Speaker 1: and sure, I think people will have a conversation about 279 00:15:59,320 --> 00:16:02,520 Speaker 1: the age you of owning a gun and and and 280 00:16:02,560 --> 00:16:05,640 Speaker 1: it's impressive that so many people are raising it because 281 00:16:05,640 --> 00:16:08,760 Speaker 1: it it is actually had what would have, as you say, 282 00:16:09,000 --> 00:16:12,560 Speaker 1: stopped the yu've all day killer, but but it wouldn't 283 00:16:12,560 --> 00:16:16,720 Speaker 1: have stopped others. And so having a conversation like the 284 00:16:16,760 --> 00:16:19,560 Speaker 1: two me mansion bill from two thousand thirteen that that 285 00:16:19,880 --> 00:16:22,920 Speaker 1: Romney said today he wouldn't mind revisiting, and and he's 286 00:16:22,920 --> 00:16:25,480 Speaker 1: read flag laws which everyone seems to be settling in on, 287 00:16:25,600 --> 00:16:28,160 Speaker 1: like that's good incremental progress. I think we're going to 288 00:16:28,280 --> 00:16:31,080 Speaker 1: have a moment in time where all these things can 289 00:16:31,120 --> 00:16:34,680 Speaker 1: be brought up and and and and I think legitimately 290 00:16:34,680 --> 00:16:38,000 Speaker 1: are going to be considered. It won't be a free 291 00:16:38,000 --> 00:16:41,160 Speaker 1: for all where everybody's gonna love all these solutions. But 292 00:16:41,160 --> 00:16:43,880 Speaker 1: but cabbably together sixty votes around a bill that can 293 00:16:43,920 --> 00:16:47,080 Speaker 1: do a lot of these things. I think has some 294 00:16:47,240 --> 00:16:50,160 Speaker 1: great potential. And so I wouldn't I wouldn't focus on 295 00:16:50,240 --> 00:16:53,040 Speaker 1: what's not going to happen, because nobody knows that until 296 00:16:53,080 --> 00:16:56,120 Speaker 1: the members get together. And and I think the idea 297 00:16:56,200 --> 00:16:58,640 Speaker 1: here is to to, you know, take a look at 298 00:16:58,640 --> 00:17:02,640 Speaker 1: all the different things, be creative and make progress. Don't 299 00:17:02,720 --> 00:17:05,120 Speaker 1: let this moment pass where nothing happens. And I think 300 00:17:05,119 --> 00:17:09,119 Speaker 1: that's what everybody is optimism, Rick, I have to admit 301 00:17:09,160 --> 00:17:13,040 Speaker 1: this week, Genie is the word incremental that Rick just 302 00:17:13,280 --> 00:17:17,160 Speaker 1: used the key here that that we we don't always 303 00:17:17,200 --> 00:17:19,119 Speaker 1: need to overreach that. Yeah, okay, if you get a 304 00:17:19,160 --> 00:17:22,560 Speaker 1: red flag law, maybe that leads to a conversation where 305 00:17:22,600 --> 00:17:26,080 Speaker 1: something else can happen. You know, I hope Rick's optimism 306 00:17:26,160 --> 00:17:28,800 Speaker 1: is right. You know me, I'm usually not optimistic about 307 00:17:28,800 --> 00:17:32,480 Speaker 1: Congress by any stretch of the imagination. So you know, uh, 308 00:17:32,920 --> 00:17:35,000 Speaker 1: it gotta forgive me on that. But as Matt said 309 00:17:35,040 --> 00:17:37,240 Speaker 1: twenty eight years later, there's a reason a lot of 310 00:17:37,320 --> 00:17:40,479 Speaker 1: us are not optimistic. God willing Rick is right. I 311 00:17:40,520 --> 00:17:44,040 Speaker 1: do think incremental is better than nothing. I've always said that. 312 00:17:44,440 --> 00:17:48,119 Speaker 1: But you know, I don't, in my personally believe that 313 00:17:48,160 --> 00:17:51,440 Speaker 1: it's overreached to increase the age or to ban military 314 00:17:51,440 --> 00:17:55,120 Speaker 1: assault style weapons. They've done it before, and it's been 315 00:17:55,200 --> 00:17:58,600 Speaker 1: productive and it's been effective. So I don't think it's overreached. 316 00:17:58,640 --> 00:18:01,639 Speaker 1: But to your point, I can this Congress. It probably 317 00:18:01,720 --> 00:18:05,159 Speaker 1: won't happen, and we will get incremental steps. God willing 318 00:18:05,920 --> 00:18:07,960 Speaker 1: Rick and Jenior with us for the hour, our signature 319 00:18:08,040 --> 00:18:11,600 Speaker 1: sound on panel. As the Secretary of State takes a 320 00:18:11,680 --> 00:18:15,040 Speaker 1: shot across the bow, President she You've got to hear 321 00:18:15,119 --> 00:18:17,800 Speaker 1: Anthony B. Lincoln's words. Today. We're gonna bring in DJ 322 00:18:17,920 --> 00:18:21,040 Speaker 1: Peterson for more on this, and we'll check the markets next. 323 00:18:21,080 --> 00:18:26,159 Speaker 1: This is Bloomberg broadcasting live from our nation's capital, Bloomberg 324 00:18:27,440 --> 00:18:31,720 Speaker 1: to New York, Bloomberg eleven Frio to Boston, Bloomberg one 325 00:18:31,720 --> 00:18:35,480 Speaker 1: oh six one to San Francisco, Bloomberg nine sixty to 326 00:18:35,560 --> 00:18:39,680 Speaker 1: the country Serious XM Channel one, and around the globe, 327 00:18:39,680 --> 00:18:43,600 Speaker 1: the Bloomberg Business app and Bloomberg Radio dot com. This 328 00:18:44,000 --> 00:18:49,560 Speaker 1: is Bloomberg Sound On with Joe Matthew. If you can't 329 00:18:49,680 --> 00:18:53,760 Speaker 1: change Beijing, you work around Beijing. The spirit of a 330 00:18:53,800 --> 00:18:56,919 Speaker 1: speech today by Anthony B. Lincoln as the Secretary of 331 00:18:56,960 --> 00:18:59,639 Speaker 1: State rolls out a new strategy to deal with China. 332 00:18:59,680 --> 00:19:01,919 Speaker 1: We'll talk talk about it next with DJ Peterson of 333 00:19:02,000 --> 00:19:05,760 Speaker 1: Longview Global Advisers and blunt talk today by Secretary of 334 00:19:05,800 --> 00:19:10,920 Speaker 1: State Anthony blaken finally drops the China speech. This has 335 00:19:11,000 --> 00:19:14,720 Speaker 1: been long anticipated. Of course, he got sick, had COVID. 336 00:19:14,760 --> 00:19:17,119 Speaker 1: A lot of things happened. Today was the day, and 337 00:19:17,160 --> 00:19:20,080 Speaker 1: as I read on the terminal the top US diplomats 338 00:19:20,119 --> 00:19:24,040 Speaker 1: comments were unusually direct. We will remain focused on the 339 00:19:24,080 --> 00:19:27,639 Speaker 1: most serious long term challenge to the national order, and 340 00:19:27,640 --> 00:19:32,040 Speaker 1: that's opposed by the People's Republic of China. Went straight 341 00:19:32,080 --> 00:19:36,359 Speaker 1: for President. She took direct aim at she's performance leading 342 00:19:36,359 --> 00:19:39,520 Speaker 1: the world's second biggest economy. And there wasn't a lot 343 00:19:39,600 --> 00:19:44,080 Speaker 1: new in this speech. The new strategy to invest at 344 00:19:44,080 --> 00:19:48,080 Speaker 1: home and better compete, but we've heard that before. It 345 00:19:48,240 --> 00:19:50,560 Speaker 1: was more about how to deal with Beijing, and that 346 00:19:52,480 --> 00:19:55,280 Speaker 1: Beijing can go its own way if it wants to. 347 00:19:55,520 --> 00:19:59,159 Speaker 1: We cannot rely on Beijing to change its trajectory, so 348 00:20:00,200 --> 00:20:03,920 Speaker 1: we will shape the strategic environment around Beijing to advance 349 00:20:03,960 --> 00:20:08,960 Speaker 1: our vision for an open, inclusive international system. Just go 350 00:20:09,119 --> 00:20:15,120 Speaker 1: around the reaction from the Chinese Embassy in Washington. Interesting spokesperson. 351 00:20:15,240 --> 00:20:18,840 Speaker 1: It's never China's gold to surpass or replace the US 352 00:20:19,000 --> 00:20:22,800 Speaker 1: or engage in zero sum competition with it. How about 353 00:20:22,840 --> 00:20:25,320 Speaker 1: this history and reality show that China and the US 354 00:20:25,400 --> 00:20:30,040 Speaker 1: both stand to gain from cooperation and lose from confrontation. 355 00:20:32,000 --> 00:20:36,760 Speaker 1: A cooling effect from the embassy. Curious what DJ Peterson 356 00:20:36,760 --> 00:20:39,000 Speaker 1: makes of all of this, President of long View Global 357 00:20:39,040 --> 00:20:44,520 Speaker 1: Advisors at Geopolitical and Political Advisory Firm, an expert on China, 358 00:20:44,600 --> 00:20:47,680 Speaker 1: former director for eur Asia Group, and formerly a director 359 00:20:47,760 --> 00:20:51,560 Speaker 1: for the Rand Corporation. It's great to have you back, Dj. 360 00:20:52,240 --> 00:20:55,600 Speaker 1: Is this some sort of escalation coming from the White House? 361 00:20:55,600 --> 00:20:57,520 Speaker 1: Here are we letting Beijing know that you know what 362 00:20:57,520 --> 00:21:01,160 Speaker 1: we're done with you? Hey, Joe, you know, I think 363 00:21:01,200 --> 00:21:05,160 Speaker 1: it's he's trying to remind the world that America can 364 00:21:05,240 --> 00:21:08,200 Speaker 1: walk and shoot gum. At the same time that while 365 00:21:08,359 --> 00:21:11,120 Speaker 1: so much attention is back on Europe, where we've been 366 00:21:11,160 --> 00:21:15,800 Speaker 1: focused obviously for the last fifties, sixties seventy years. Um, 367 00:21:15,800 --> 00:21:19,160 Speaker 1: he's trying to signal. And the President this past week 368 00:21:19,280 --> 00:21:23,480 Speaker 1: also signaled that no, we're really specific oriented now and 369 00:21:23,680 --> 00:21:26,879 Speaker 1: that we are definitely still paying attention to China. And 370 00:21:26,920 --> 00:21:30,760 Speaker 1: as he said, China is our number one long term threat. 371 00:21:30,840 --> 00:21:33,800 Speaker 1: And I agree with that statement, especially as we see 372 00:21:33,880 --> 00:21:38,120 Speaker 1: kind of the long term geopolitical decline of Russia. Yes, 373 00:21:38,200 --> 00:21:40,560 Speaker 1: China is out there on top as ours as our 374 00:21:40,600 --> 00:21:43,480 Speaker 1: our leading uh priority. Well, this is sort of a 375 00:21:43,520 --> 00:21:47,719 Speaker 1: contrast to President Biden, for instance, you know, talking with 376 00:21:47,800 --> 00:21:50,440 Speaker 1: President she trying to get on the same page. Hey, 377 00:21:50,480 --> 00:21:54,800 Speaker 1: we're happy competitors were not here for confrontation. This sounds like, okay, 378 00:21:54,800 --> 00:21:57,000 Speaker 1: we're done trying to convince you. If you want to 379 00:21:57,040 --> 00:21:59,560 Speaker 1: go hang out with Vladimir Putin, go ahead, but we 380 00:21:59,680 --> 00:22:04,360 Speaker 1: have our own agenda for the Indo Pacific DJ. Yeah, 381 00:22:04,359 --> 00:22:09,000 Speaker 1: it's I think the President is still very interested in 382 00:22:09,040 --> 00:22:13,000 Speaker 1: having a constructive, constructive dialogue with Beijing. That doesn't go away. 383 00:22:13,040 --> 00:22:15,760 Speaker 1: But I think what they're capitalizing on or seeking to 384 00:22:15,920 --> 00:22:22,800 Speaker 1: seize right now is frankly beijing slightly tarnished image in 385 00:22:22,840 --> 00:22:25,800 Speaker 1: the world. You know, for so long they have been 386 00:22:25,840 --> 00:22:31,760 Speaker 1: shaping the global environment through trade, through its UH infrastructure 387 00:22:31,800 --> 00:22:35,000 Speaker 1: development and lending programs. And what we see right now 388 00:22:35,160 --> 00:22:38,200 Speaker 1: is that things aren't going all that great on a 389 00:22:38,320 --> 00:22:42,879 Speaker 1: number of fronts economically with COVID, there's more pushback. You 390 00:22:43,000 --> 00:22:46,000 Speaker 1: see in in Asia, there's more concerned. The Europeans are 391 00:22:46,080 --> 00:22:49,720 Speaker 1: much more concerned about China, and their alignment with Russia 392 00:22:49,840 --> 00:22:53,000 Speaker 1: in the Ukraine War has certainly dented their image. So 393 00:22:53,640 --> 00:22:56,800 Speaker 1: I think what's very interesting right now is the Secretary 394 00:22:57,240 --> 00:23:02,160 Speaker 1: Um is trying to sees a little bit of initiative 395 00:23:02,359 --> 00:23:06,119 Speaker 1: that China has lost, and China has been seeking to 396 00:23:06,200 --> 00:23:09,680 Speaker 1: reshape the global environment, and they're basically just turning that word, 397 00:23:09,720 --> 00:23:12,320 Speaker 1: those words back on China and saying, no, it's our 398 00:23:12,359 --> 00:23:15,480 Speaker 1: turn to shape the environment. Again, does this sound like 399 00:23:15,480 --> 00:23:19,520 Speaker 1: an administration that's about to lift tariffs on Chinese imports? 400 00:23:20,520 --> 00:23:23,480 Speaker 1: Not at all, Not at all. Why open that door? 401 00:23:23,480 --> 00:23:25,280 Speaker 1: Remember the President last week said, you know, when I 402 00:23:25,320 --> 00:23:27,880 Speaker 1: get back, I'll talk to Janet yelling about that. But 403 00:23:29,160 --> 00:23:32,200 Speaker 1: if if we're not going in that direction, why why 404 00:23:32,359 --> 00:23:36,480 Speaker 1: float the carrot Well, I think it's it's out there 405 00:23:36,520 --> 00:23:39,959 Speaker 1: exactly as a carrot um that he's saying that we 406 00:23:40,000 --> 00:23:43,760 Speaker 1: are open to negotiations, but it's basically contingent on China, 407 00:23:44,000 --> 00:23:49,879 Speaker 1: significant changes in China policy, UM in China and UM. 408 00:23:50,000 --> 00:23:53,159 Speaker 1: So it's he's signaling that we're not completely inflexible, that 409 00:23:53,200 --> 00:23:57,640 Speaker 1: we're not locked into some uh static mentality, but it's 410 00:23:57,760 --> 00:24:01,800 Speaker 1: highly unlikely in this environment. Actually, as you see, for instance, 411 00:24:02,359 --> 00:24:06,119 Speaker 1: the value of the Chinese currency going down, so in 412 00:24:06,160 --> 00:24:10,720 Speaker 1: some ways increasing the competitiveness of Chinese goods. UM, that 413 00:24:10,800 --> 00:24:14,000 Speaker 1: doesn't I just don't see the political interest accepted, perhaps 414 00:24:14,119 --> 00:24:19,080 Speaker 1: very very specific arenas to lift tariffs unless there was 415 00:24:19,080 --> 00:24:23,280 Speaker 1: a real impact on domestic inflation, and some suggest there 416 00:24:23,320 --> 00:24:27,200 Speaker 1: would be uh DJ maybe a d coupling with Russia 417 00:24:27,280 --> 00:24:29,760 Speaker 1: might be rewarded. However, is that is that your point 418 00:24:29,760 --> 00:24:32,320 Speaker 1: by lifting some of these sanctions, if they if they 419 00:24:32,320 --> 00:24:36,080 Speaker 1: stopped fooling around with Vladimir Putin, well, you know, I 420 00:24:37,000 --> 00:24:40,320 Speaker 1: don't see it going that far. We've seen obviously tremendous 421 00:24:40,320 --> 00:24:43,920 Speaker 1: inflationary pressures in the United States for a variety of reasons, 422 00:24:43,960 --> 00:24:49,160 Speaker 1: but those inflationary pressures, pressures from China and tariffs, occurred 423 00:24:49,240 --> 00:24:54,000 Speaker 1: years ago, and so companies have adjusted, consumers have adjusted 424 00:24:54,040 --> 00:24:59,080 Speaker 1: to those tariffs based price increases. UM. I think that 425 00:24:59,440 --> 00:25:03,200 Speaker 1: the ability that they desire to ease tariffs to address 426 00:25:03,200 --> 00:25:05,520 Speaker 1: the inflationary peter would only be at the margins and 427 00:25:05,560 --> 00:25:09,240 Speaker 1: in certain arenas, especially arenas say where we're having severe 428 00:25:09,280 --> 00:25:13,679 Speaker 1: supply chain disruptions. But I do not see a broad 429 00:25:13,800 --> 00:25:17,919 Speaker 1: based easing of the trade war with China. In fact, 430 00:25:18,040 --> 00:25:21,720 Speaker 1: I could see it getting worse. We just imposed sanctions 431 00:25:21,840 --> 00:25:25,840 Speaker 1: on one of their um their companies that that we 432 00:25:26,080 --> 00:25:30,159 Speaker 1: import surreilans cameras from. So that I see these this 433 00:25:30,240 --> 00:25:34,280 Speaker 1: trend of increasing restrictions in the near future. Well, this 434 00:25:34,359 --> 00:25:36,840 Speaker 1: is something and there could be some real disappointment there 435 00:25:38,440 --> 00:25:42,800 Speaker 1: when you hear the response that I mentioned from the embassy. Lastly, here, DJ, 436 00:25:43,040 --> 00:25:44,960 Speaker 1: what does that sound like to you? It's never China's 437 00:25:44,960 --> 00:25:47,920 Speaker 1: gold to surpass or replace the US or engage in 438 00:25:48,040 --> 00:25:51,119 Speaker 1: zero sum competition with It sounds like they want to 439 00:25:51,119 --> 00:25:56,160 Speaker 1: be friends exactly, and it's you called out. I think 440 00:25:56,160 --> 00:26:00,800 Speaker 1: a really interesting tone here, which is last at least 441 00:26:00,800 --> 00:26:04,040 Speaker 1: this this message was left confrontational, which of course could 442 00:26:04,080 --> 00:26:06,920 Speaker 1: be different tomorrow. Right, this is like the manic relationship. 443 00:26:06,960 --> 00:26:09,760 Speaker 1: I guess that we have, DJ. Thank you always wish 444 00:26:09,760 --> 00:26:12,480 Speaker 1: we had more time with d J. Peterson. Longview Global 445 00:26:12,520 --> 00:26:16,000 Speaker 1: Advisers will reassemble the panel next. Rick and Genie weigh 446 00:26:16,040 --> 00:26:19,040 Speaker 1: in on China news on Saudi Arabia as well. I'm 447 00:26:19,119 --> 00:26:23,959 Speaker 1: Joe Matthew. This is Bloomberg. You're listening to Bloomberg Sound 448 00:26:24,000 --> 00:26:30,160 Speaker 1: On with Joe Matthew on Bloomberg Radio. And I think 449 00:26:30,160 --> 00:26:33,680 Speaker 1: President Biden and the First Lady are still unpacking from 450 00:26:33,720 --> 00:26:38,240 Speaker 1: their trip to Asia. Anthony Blinkoln drops the speech today 451 00:26:38,359 --> 00:26:42,800 Speaker 1: on China with months. By the way, we should note 452 00:26:42,800 --> 00:26:45,600 Speaker 1: this having just talked to d J. Peterson about the 453 00:26:45,720 --> 00:26:50,840 Speaker 1: China policy and the idea of well maybe someday lifting tariffs. 454 00:26:50,840 --> 00:26:54,760 Speaker 1: Bloomberg Now reporting that after speaking with the top US 455 00:26:54,840 --> 00:26:58,520 Speaker 1: trade official, the administration's review of those tariffs, well it 456 00:26:58,560 --> 00:27:00,640 Speaker 1: says he'll do that as soon as he's ACTI is back. 457 00:27:00,680 --> 00:27:05,879 Speaker 1: Now is likely to take months, and the Secretary of 458 00:27:05,920 --> 00:27:08,399 Speaker 1: State says the US isn't looking to sever China from 459 00:27:08,440 --> 00:27:14,200 Speaker 1: the global economy. This isn't Russia part two again. We're 460 00:27:14,240 --> 00:27:18,720 Speaker 1: just going to work around them if necessary. As we 461 00:27:18,760 --> 00:27:21,600 Speaker 1: reassemble the panel, Rick Davis and Genie Chanzy know are 462 00:27:21,640 --> 00:27:25,240 Speaker 1: with us Bloomberg Politics contributors. Do you like the sound 463 00:27:25,280 --> 00:27:28,440 Speaker 1: of this approach? Rick, does it sound like a new 464 00:27:28,480 --> 00:27:32,840 Speaker 1: look here after the president's trip and meeting with the Quad, Well, 465 00:27:32,840 --> 00:27:35,120 Speaker 1: it really is the first time we've heard of a 466 00:27:35,200 --> 00:27:38,200 Speaker 1: strategy from the Biden administration on Asia, and I think 467 00:27:38,200 --> 00:27:42,040 Speaker 1: it is a refreshing new approach to what has been, 468 00:27:42,280 --> 00:27:45,960 Speaker 1: you know, sort of a very bilateral approach to China. 469 00:27:46,480 --> 00:27:50,399 Speaker 1: And what was the standard and the Trump administration was, 470 00:27:50,960 --> 00:27:53,159 Speaker 1: you know, you sort of focused on economics and that's it, 471 00:27:53,320 --> 00:27:55,800 Speaker 1: you know, and you punished them by tariffs, and you 472 00:27:55,800 --> 00:27:59,480 Speaker 1: you rewarded them by other economic policies going in place 473 00:27:59,480 --> 00:28:02,200 Speaker 1: it would benef at them, and and that wasn't particularly 474 00:28:02,240 --> 00:28:04,399 Speaker 1: good way, I think, to to look at China, although 475 00:28:04,520 --> 00:28:07,200 Speaker 1: people were pleased that at least he took a harder 476 00:28:07,240 --> 00:28:10,320 Speaker 1: line than than what was examined in the in the 477 00:28:10,600 --> 00:28:13,680 Speaker 1: Obama administration. So so this is the first comprehensive look 478 00:28:13,720 --> 00:28:15,800 Speaker 1: at that, and it definitely is like we're going to 479 00:28:15,880 --> 00:28:18,159 Speaker 1: pursue our aims and our goals around the world. We're 480 00:28:18,160 --> 00:28:20,800 Speaker 1: going to promote democracy, you know, we're going to promote 481 00:28:20,880 --> 00:28:24,159 Speaker 1: human rights. We're going to promote institutions that helped govern 482 00:28:24,320 --> 00:28:27,960 Speaker 1: the economy and trade and and and we don't expect 483 00:28:28,040 --> 00:28:30,280 Speaker 1: China necessarily to abide by that, but we're going to 484 00:28:30,400 --> 00:28:31,960 Speaker 1: do everything we can to force the rest of the 485 00:28:32,000 --> 00:28:34,720 Speaker 1: world into it. And and in that regard, the message 486 00:28:34,720 --> 00:28:37,600 Speaker 1: is kind of we're gonna isolate you, but at the 487 00:28:37,640 --> 00:28:40,800 Speaker 1: same time, Genie, we also really want to buy your stuff. 488 00:28:42,040 --> 00:28:44,160 Speaker 1: That's right. We we want to work with you. I 489 00:28:44,160 --> 00:28:47,480 Speaker 1: think the watchword of the day in my mind is asymmetric. 490 00:28:47,640 --> 00:28:50,400 Speaker 1: I mean, that is what we keep hearing. We did 491 00:28:50,440 --> 00:28:53,520 Speaker 1: get hints of this strategy. There was a classified version 492 00:28:53,560 --> 00:28:55,480 Speaker 1: of this and this is a shorter version of that 493 00:28:55,480 --> 00:28:58,520 Speaker 1: that came out last fall, and the Secretary of State 494 00:28:58,560 --> 00:29:04,520 Speaker 1: reiterated that today and asymmetrical playbook and asymmetrical approach. You know. 495 00:29:04,680 --> 00:29:07,680 Speaker 1: To me this is important because, as Rick said, for 496 00:29:07,720 --> 00:29:10,840 Speaker 1: a while during the campaign and after that, we kept asking, 497 00:29:11,240 --> 00:29:15,000 Speaker 1: how does Biden's approach to China in particular differ from 498 00:29:15,120 --> 00:29:17,800 Speaker 1: Trump's And you couldn't really get a good sense of it, 499 00:29:18,120 --> 00:29:22,240 Speaker 1: but we have it clearly from that classified briefing or 500 00:29:22,280 --> 00:29:25,680 Speaker 1: strategy and also from the words today, And to me 501 00:29:25,760 --> 00:29:29,400 Speaker 1: it's important. It seems to suggest that the United States, 502 00:29:29,440 --> 00:29:34,000 Speaker 1: at least this administration has decided that efforts at diplomacy 503 00:29:34,000 --> 00:29:38,120 Speaker 1: and engagement, both economic and diplomatic have largely failed, and 504 00:29:38,200 --> 00:29:40,320 Speaker 1: so we are going to to your in your words, 505 00:29:40,360 --> 00:29:43,960 Speaker 1: work around them. But the question is, you know, it's 506 00:29:44,000 --> 00:29:46,640 Speaker 1: not a cold war, we still want to work with them. Well, 507 00:29:46,640 --> 00:29:49,040 Speaker 1: what are the limits there? And that's what I didn't 508 00:29:49,080 --> 00:29:52,160 Speaker 1: get a good sense of today from you know, blinkin speeches. 509 00:29:52,480 --> 00:29:55,240 Speaker 1: You know there's areas we want to work at them, climate, 510 00:29:55,320 --> 00:29:58,440 Speaker 1: you know, trade, certainly other errors. But what are the limits? 511 00:29:58,480 --> 00:30:01,680 Speaker 1: How can you freeze somebody or summenentity out and yet 512 00:30:01,720 --> 00:30:04,200 Speaker 1: work with them. How is that going to proceed? We 513 00:30:04,240 --> 00:30:06,200 Speaker 1: don't have a good sense of that from this speech. 514 00:30:06,480 --> 00:30:10,400 Speaker 1: This is just days after the Taiwan flap with President Biden. Look, 515 00:30:10,440 --> 00:30:13,200 Speaker 1: this is just remember this conversation. We're talking about it 516 00:30:13,240 --> 00:30:16,440 Speaker 1: now because it's it's an important element of a much 517 00:30:16,480 --> 00:30:21,480 Speaker 1: bigger story, and the tentacles are long here. I just 518 00:30:21,520 --> 00:30:24,920 Speaker 1: got a briefing at the White House. In terms of geopolitics, 519 00:30:24,960 --> 00:30:26,960 Speaker 1: this is another big story here. It turns out two 520 00:30:26,960 --> 00:30:29,440 Speaker 1: of the president's senior advisors aren't a secret trip to 521 00:30:29,440 --> 00:30:32,320 Speaker 1: Saudi Arabia. I don't know if you guys heard about this, 522 00:30:32,800 --> 00:30:37,640 Speaker 1: but it was acknowledged and confirmed today by Karine Jean Pierre, 523 00:30:38,160 --> 00:30:40,360 Speaker 1: the new Press secretary. You know, of course we're looking 524 00:30:40,400 --> 00:30:43,440 Speaker 1: for an increase in oil production around the world here 525 00:30:43,440 --> 00:30:46,680 Speaker 1: and well, Saudi Arabia appears to be the place we 526 00:30:46,760 --> 00:30:48,920 Speaker 1: have decided to go at least as of now. Here's 527 00:30:49,080 --> 00:30:52,640 Speaker 1: the Press Secretary. I will confirm that Brett McGurk and 528 00:30:52,760 --> 00:30:56,240 Speaker 1: Amos Hawkstein were in the region to follow up when 529 00:30:56,280 --> 00:30:59,800 Speaker 1: conversations on a range of range of issues, including Iran's 530 00:30:59,840 --> 00:31:05,680 Speaker 1: the destabilizing activities, ensuring stable global energy supplies, and other 531 00:31:05,760 --> 00:31:10,080 Speaker 1: regional issues issues. On your question about oil, you know, 532 00:31:10,160 --> 00:31:14,040 Speaker 1: it's this trip is to review engagement with Saudi Arabia 533 00:31:14,120 --> 00:31:18,640 Speaker 1: on energy security as as asking for oil is simply wrong. 534 00:31:18,800 --> 00:31:21,760 Speaker 1: That's the way that we see it, and a misunderstanding 535 00:31:21,800 --> 00:31:24,479 Speaker 1: of both the complexity of that issue as well as 536 00:31:24,520 --> 00:31:29,360 Speaker 1: our multifaceted discussions with the Saudis. Wow, that whole thing 537 00:31:29,440 --> 00:31:32,320 Speaker 1: was written down. They knew there'd be a question. Axios 538 00:31:32,360 --> 00:31:36,320 Speaker 1: had the story earlier. How about that, though, uh Rick, 539 00:31:36,400 --> 00:31:40,080 Speaker 1: on your question about oil, it's this trip is to 540 00:31:40,120 --> 00:31:44,840 Speaker 1: review engagement with Saudi Arabia on energy security, review engagement. 541 00:31:45,520 --> 00:31:50,480 Speaker 1: There's your action phrase there, as asking for oil is 542 00:31:50,560 --> 00:31:54,240 Speaker 1: simply wrong the way we see it, a misunderstanding both 543 00:31:54,320 --> 00:31:57,880 Speaker 1: the complexity of that issue as well as our how 544 00:31:57,920 --> 00:32:00,880 Speaker 1: do they come up with this stuff? Well, this is 545 00:32:01,080 --> 00:32:05,120 Speaker 1: a lot of nothing. Um, it's pretty abundantly clear. We're 546 00:32:05,120 --> 00:32:07,920 Speaker 1: not asking for royal that they're trying to get past 547 00:32:08,080 --> 00:32:11,120 Speaker 1: the sort of penalty box situation that they put Mohammed 548 00:32:11,160 --> 00:32:14,400 Speaker 1: Ben Solomon in for some time, and and and they're 549 00:32:14,400 --> 00:32:16,840 Speaker 1: doing it under the guise of sort of smoking mirror. 550 00:32:16,880 --> 00:32:20,560 Speaker 1: But this is about incredibly bad news that the Biden 551 00:32:20,560 --> 00:32:23,720 Speaker 1: administration keeps getting every week when the price of gas 552 00:32:23,760 --> 00:32:28,720 Speaker 1: goes up, regardless of his policies, regardless of his emergency measures, 553 00:32:28,720 --> 00:32:32,120 Speaker 1: regardless of the commissions that he puts together to try 554 00:32:32,160 --> 00:32:37,520 Speaker 1: and create uh less more downward pressure on pricing, it's 555 00:32:37,560 --> 00:32:40,640 Speaker 1: not working. It's been up since he launched this program 556 00:32:40,880 --> 00:32:44,440 Speaker 1: overt uh the increase in the price of gas. So 557 00:32:44,560 --> 00:32:47,440 Speaker 1: he's drowning in in high price gas right now. And 558 00:32:47,760 --> 00:32:50,200 Speaker 1: the only the only place he's gonna get any help 559 00:32:50,360 --> 00:32:53,560 Speaker 1: that could actually you know, benefit the consumer are with 560 00:32:53,720 --> 00:32:57,040 Speaker 1: these uh energy rich nations as part of OPEC, which 561 00:32:57,040 --> 00:32:59,880 Speaker 1: he which he definitely doesn't want to spend time talk 562 00:33:00,040 --> 00:33:02,320 Speaker 1: to him about because the last thing he wants one 563 00:33:02,400 --> 00:33:06,080 Speaker 1: is to get a political bail out from MBS and 564 00:33:06,160 --> 00:33:09,840 Speaker 1: to look like he's looking past the human rights abuses 565 00:33:09,920 --> 00:33:13,920 Speaker 1: that have been uh in that country. And and he's 566 00:33:13,960 --> 00:33:16,240 Speaker 1: found himself in a box. And so I think we're 567 00:33:16,240 --> 00:33:18,400 Speaker 1: gonna hear double speak out of this. But look if 568 00:33:18,440 --> 00:33:22,040 Speaker 1: he if he can get some progress uh in that regard, 569 00:33:22,280 --> 00:33:24,680 Speaker 1: I think that it's a positive for the U. S. Consumer. 570 00:33:24,880 --> 00:33:27,640 Speaker 1: Saudi Arabia, Israel, and Egypt apparently would be part of 571 00:33:27,640 --> 00:33:31,560 Speaker 1: this arrangement is, according to Axios, to increase oil production. Genie, 572 00:33:31,640 --> 00:33:33,920 Speaker 1: I have two headlines for you from Bloomberg. Here's one, 573 00:33:34,400 --> 00:33:39,040 Speaker 1: Saudi Arabia is making a billion dollars from oil exports 574 00:33:39,080 --> 00:33:43,080 Speaker 1: every day. Oil exports reached thirty billion dollars in March, 575 00:33:43,120 --> 00:33:45,600 Speaker 1: at least the highest in six years. Here's another one. 576 00:33:46,160 --> 00:33:49,200 Speaker 1: Saudi Arabia says it's done all I can do for 577 00:33:49,240 --> 00:33:52,320 Speaker 1: the oil market. The energy crisis, they say, is more 578 00:33:52,360 --> 00:33:55,360 Speaker 1: complex than simply pumping more oil. So what are we 579 00:33:55,400 --> 00:33:58,840 Speaker 1: doing over there? Uh? You know, I think that's why 580 00:33:58,880 --> 00:34:01,240 Speaker 1: you've got these two seen your advisors over there on 581 00:34:01,320 --> 00:34:04,560 Speaker 1: this you know, not so secret now trade reviewing engagement 582 00:34:04,720 --> 00:34:09,640 Speaker 1: on energy security and let's not forget Biden once said 583 00:34:09,719 --> 00:34:14,000 Speaker 1: he would make Saudi Arabia pariah because of the killing 584 00:34:14,160 --> 00:34:18,359 Speaker 1: of Jamal Kashogi. The Washington Post reporter um that U. 585 00:34:18,480 --> 00:34:23,319 Speaker 1: S Intelligence has said the prince is responsible for, which, 586 00:34:23,320 --> 00:34:27,000 Speaker 1: of course Audi Arabia has denied. But you know, this 587 00:34:27,120 --> 00:34:30,640 Speaker 1: is where people become very, very frustrated with what they 588 00:34:30,680 --> 00:34:33,799 Speaker 1: see is the hypocrisy coming out of not just this 589 00:34:33,800 --> 00:34:35,719 Speaker 1: White House but others. You know, at this point, when 590 00:34:35,719 --> 00:34:37,920 Speaker 1: I heard this news, I wondered whether Jared Kushner was 591 00:34:37,960 --> 00:34:40,800 Speaker 1: on this trip with potentially with the White House, because 592 00:34:41,160 --> 00:34:43,040 Speaker 1: this is a White House that said it would not 593 00:34:43,120 --> 00:34:45,319 Speaker 1: engage in this, and yet when the heat is on 594 00:34:45,400 --> 00:34:48,520 Speaker 1: in terms of oil prices, they are. I'm not surprised, 595 00:34:48,560 --> 00:34:51,239 Speaker 1: but they're gonna have to do a better job explaining it, 596 00:34:51,480 --> 00:34:54,880 Speaker 1: and that didn't happen today. I don't know how you 597 00:34:54,920 --> 00:34:57,200 Speaker 1: bring this one forward. I mean, look, I guess on 598 00:34:57,200 --> 00:35:00,480 Speaker 1: on on one level, Rick, low gas prices is a win, 599 00:35:01,239 --> 00:35:04,560 Speaker 1: but you also have to explain in this particular case, 600 00:35:04,840 --> 00:35:06,960 Speaker 1: you owe the American people in explanation as to how 601 00:35:07,000 --> 00:35:10,160 Speaker 1: they got lower gas prices. Now, look, you're not gonna 602 00:35:10,160 --> 00:35:12,000 Speaker 1: get this done in a vacuum. Right, there is no 603 00:35:12,120 --> 00:35:15,319 Speaker 1: secrets and we're realizing that they couldn't even get off 604 00:35:15,360 --> 00:35:20,520 Speaker 1: the airport before they were um, so, so why don't 605 00:35:20,520 --> 00:35:23,880 Speaker 1: we just make this transparent? Uh? This administration is engaging 606 00:35:23,920 --> 00:35:26,920 Speaker 1: with Saudi Arabian order to lower gas prices in advance 607 00:35:26,960 --> 00:35:29,839 Speaker 1: of an election where they're losing right now. Are doing 608 00:35:29,840 --> 00:35:32,160 Speaker 1: it with a guy who has a horrible human rights record. 609 00:35:32,239 --> 00:35:34,600 Speaker 1: Take the hit. What's more important to you the human 610 00:35:34,680 --> 00:35:37,600 Speaker 1: rights record or gas prices? That's that's true, Genie. People 611 00:35:37,680 --> 00:35:41,759 Speaker 1: appreciate the honesty, even if it's ugly. Uh. I would 612 00:35:41,800 --> 00:35:44,720 Speaker 1: appreciate the honesty. But I'll tell you, when you say 613 00:35:44,800 --> 00:35:48,000 Speaker 1: that oil prices are more important than human rights and 614 00:35:48,080 --> 00:35:50,359 Speaker 1: human life, it's a hard thing. It's a hard pill 615 00:35:50,400 --> 00:35:52,840 Speaker 1: for a lot of us to swallow. And I I 616 00:35:53,040 --> 00:35:55,640 Speaker 1: you know they're gonna hopefully they listen to Rick. I 617 00:35:55,680 --> 00:35:57,719 Speaker 1: don't think they will. I don't think we'll hear them 618 00:35:57,800 --> 00:35:59,879 Speaker 1: say that. I think they will continue to opit skate, 619 00:36:00,320 --> 00:36:01,920 Speaker 1: And that's going to be a problem for them as 620 00:36:01,960 --> 00:36:05,319 Speaker 1: we go forward, because people are watching and he did 621 00:36:05,400 --> 00:36:08,400 Speaker 1: talk about them as a pariah on the international stage. 622 00:36:08,840 --> 00:36:11,920 Speaker 1: They horrifically killed this man the U. S. Intelligence has 623 00:36:12,000 --> 00:36:14,600 Speaker 1: talked all about that, and yet we are going to 624 00:36:14,680 --> 00:36:16,880 Speaker 1: engage because we don't want to pay more at the pump. 625 00:36:17,239 --> 00:36:19,680 Speaker 1: I get the argument, but it's a hard pill for 626 00:36:19,719 --> 00:36:22,759 Speaker 1: people to swallow. Rick and Jennie with another great discussion 627 00:36:23,000 --> 00:36:25,520 Speaker 1: our panel only here on sound On. Don't you feel 628 00:36:25,520 --> 00:36:27,480 Speaker 1: like if you just elected Rick and Jennie things probably 629 00:36:27,480 --> 00:36:30,440 Speaker 1: work out pretty well? Right? I'm Joe, Matthew and Washington 630 00:36:30,520 --> 00:36:33,120 Speaker 1: will of course do this tomorrow. If you showed up late, 631 00:36:33,160 --> 00:36:36,880 Speaker 1: subscribe to the podcast Bloomberg sound On, just search for 632 00:36:36,960 --> 00:36:40,400 Speaker 1: it where you get your podcasts. As we leave you 633 00:36:40,480 --> 00:36:43,680 Speaker 1: with some sweeter sounds from a more gentle age, did 634 00:36:43,680 --> 00:36:47,200 Speaker 1: you hear about ray Leota? Ray Leota died sixty seven, 635 00:36:49,000 --> 00:36:56,319 Speaker 1: Henry Hill. Anybody reminding us to make the best of 636 00:36:56,360 --> 00:37:07,040 Speaker 1: it while you're here? Where you take body? My lord lord, 637 00:37:09,280 --> 00:37:13,080 Speaker 1: that is my the fastest hour in politics. Will be 638 00:37:13,080 --> 00:37:18,080 Speaker 1: back tomorrow Bloomberg Raddy, I'm Jill, Matthew and Washington. Thanks 639 00:37:18,080 --> 00:37:23,600 Speaker 1: to everybody for jumping in. This is Please try to 640 00:37:24,000 --> 00:37:24,320 Speaker 1: get