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Speaker 1: Five from our nations. This budget thing is going to

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Speaker 1: do nothing. The spaceports. I still think it's interesting President

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Speaker 1: Trump not playing his cards yet headlines Policy and Politics,

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Speaker 1: aligning to sound on with Kevin's. Really the insiders, the influencers,

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Speaker 1: divide within Team Trump. The President has to do exactly

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Speaker 1: get it done. He's sound on with Kevin's O relate

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Speaker 1: on Bloomberg one and one m h D two Boltimore

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Speaker 1: Goldman Sachs sounds the alarm. They have a message for

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Speaker 1: traders clinging to the hope that the U. S And

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Speaker 1: war escalates at midnight Friday. Don't bet on it, that's

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Speaker 1: their message. The full fallout as Beijing's delegation of traders

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Speaker 1: arrives here, set to arrive here in Washington, d C.

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Speaker 1: Within the next few hours. We have complete wall to

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Speaker 1: wall coverage Bloomberg Television, Bloomberg Radio, all of the latest

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Speaker 1: as those tariffs are set to spike. They are set

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Speaker 1: to spike. They're at ten percent now, they could be

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Speaker 1: at twenty five At twelve oh one am on Friday. TikTok.

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Speaker 1: The clock is ticking down. Plus. Meanwhile, a House panel

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Speaker 1: holds bar in content as President Trump amps up Mueller feud,

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Speaker 1: the latest in the ongoing saga that just never seems

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Speaker 1: to end between Republicans and Democrats. Over all of this

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Speaker 1: back and forth, All Star panel, All Star panel with

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Speaker 1: us here in studio John Summers, former communications director for

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Speaker 1: Senate Majority Leader Harry Reid, and Brendan Buck, former spokesman

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Speaker 1: and advisor to the former House Speaker Paul Ryan. Now

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Speaker 1: and j D A front line breaking news headlines crossing

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Speaker 1: colleague Shanna Petty Peace send Laura Curtis breaking it down

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Speaker 1: on the Bloomberg terminal. Quote. The Senate Intelligence Committee subpoena

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Speaker 1: Donald Trump Junior over testimony he gave two Senate investigators

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Speaker 1: Michael Cohen, remember him. He's in jail now. Michael Cohen's

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Speaker 1: testimony on the Trump Tower Moscow project. The panel's inquiry,

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Speaker 1: led by Republican Chairman Richard Burr and Democrat Mark Warner,

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Speaker 1: has largely been by partisan. That's uh from my colleague

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Speaker 1: Shanna Petty piece Laura Curtis on the Bloomberg terminal. We're

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Speaker 1: gonna have much more on what that means for the investigation.

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Speaker 1: All Star Panel with us in studio. John Summers, former

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Speaker 1: communications director for former Senate Majority Leader Harry Reid. Brendan Buck,

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Speaker 1: former spokesman and adviser to former House Speaker Paul Ryan.

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Speaker 1: He's a partner at Blue Engine Message and Media and

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Speaker 1: j D A front Line. I'm Kevin Cirelli, Chief Washington

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Speaker 1: correspondent from Bloomberg Television and Bloomberg Radio. And you know, Brendan,

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Speaker 1: I was really struck by just the fallout. Today President

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Speaker 1: Trump head in to Florida. But you've got or he's

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Speaker 1: going to be heading to Florida. You've got the Chinese

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Speaker 1: delegation set to arrive here tomorrow, led by Vice Premier

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Speaker 1: Luihua and no one's talking to each other. I mean literally,

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Speaker 1: no one's negotiating. And the deadline for the tariffs that

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Speaker 1: are at ten percent right now, they're gonna be spiked

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Speaker 1: up to on billions of dollars worth of goods that's

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Speaker 1: set to take effect on Friday at twelve oh one.

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Speaker 1: I mean, this is this isn't just negotiations and a vacuum.

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Speaker 1: Folks all across the country, small businesses we always talking

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Speaker 1: about big business. Small businesses are going to be impacted

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Speaker 1: by this. And you know this, Brendan, You're plugged into

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Speaker 1: all the Republicans up there on Capitol Hill. I can't

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Speaker 1: thing that I think unites us all on the Hill.

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Speaker 1: We we all have various views about Donald Trump, but

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Speaker 1: I don't think anybody has found that this approach is

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Speaker 1: you really surprised. I mean, this is how Donald Trump negotiates,

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Speaker 1: right um. He stirs things up, He makes it crazy.

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Speaker 1: You know, for the longest time, I thought that there

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Speaker 1: to him. Um, to his credit, were at this point,

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Speaker 1: and I think people have thought things were actually going

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Speaker 1: this madness UM. But nothing goes easily around here anymore,

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Speaker 1: and so now we're back to these these sort of

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Speaker 1: crazy shenanigans. So I want to at least give it

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Speaker 1: a second to see if if it will settle back down,

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Speaker 1: because I feel like we've been here before. I feel

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Speaker 1: like we've we've had these standoffs before and they end

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Speaker 1: up calming down. But if we go that's a big deal.

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Speaker 1: If you think about it. The best thing that the

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Speaker 1: president had is going for him to try to get

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Speaker 1: reelected as the economy and if he wants to try

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Speaker 1: to um sabotage that with with new tariffs, I I

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Speaker 1: question the question that's significantly And John, I know you're

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Speaker 1: going to disagree with this Yard Democrat, but I mean

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Speaker 1: when you look at you look at the when you

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Speaker 1: for example, I mean, look, you've got pretty good g DP,

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Speaker 1: like they're stepping on themselves with this tariff talk, which

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Speaker 1: most economists estimate would slice GDP by point one percent.

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Speaker 1: Goldman is taking it seriously. I love this story on

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Speaker 1: the Bloomberg terminal by my colleague Luke kawa Uh. He

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Speaker 1: reports that Goldman Sachs is really taking this threat of

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Speaker 1: the tariffs spiking very very seriously. And the markets are

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Speaker 1: going up and now bumpy ride, buckle up. Investors are

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Speaker 1: grappling with conflicting headlines, and look, I I trust Bloomberg reporting,

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Speaker 1: it's been rock solid on this. But you've got these

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Speaker 1: other blogs and whatnot that are going back and forth

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Speaker 1: about whether or not you can take these seriously, and

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Speaker 1: no one is talking about what the US and the

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Speaker 1: are already in place. The President is threatening to increase tariffs,

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Speaker 1: not to remove all of the tariffs. So it is

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Speaker 1: a very different conversation to suggest that you are going

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Speaker 1: to keep the tariffs that are already in place with

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Speaker 1: no off ramp, which is one of the sticking points

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Speaker 1: place stay and they're getting jacked up on Friday. From

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Speaker 1: your perspective, John, I mean, how do how does is

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Speaker 1: there an opportunity When I talk to some centrist Democrats

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Speaker 1: like Senator Chris Coon's for example, he's he's tinkering with

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Speaker 1: the idea that there might be some opportunity for bipartisan

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Speaker 1: legislation to provide an off ramp for some of these

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Speaker 1: businesses impacted by tariffs. Yeah. No, And I think your

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Speaker 1: your point is right, and people are still already struggling

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Speaker 1: with some of the tariffs as are you know, as

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Speaker 1: a result of the of the increase last time. And

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Speaker 1: so when you talk about going up, what you're really

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Speaker 1: talking about, as I think we all agree, is raising

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Speaker 1: boils down to you. I will say, I am a Democrat,

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Speaker 1: but but I won't concede. The economy is going well.

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Speaker 1: The economy is absolutely going well. It has been for

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Speaker 1: ten years. He's texting some some Republican operatives for the

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Speaker 1: AD now. Yes, although Harry Reid's guy even said the

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Speaker 1: economy is doing that as it has been for ten

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Speaker 1: years now. So it's been continuing on a trend that

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Speaker 1: we've seen since President Obama took office. It's not hard

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Speaker 1: to look at that treadline. But Trump is in office.

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Speaker 1: Trump gets to own it. If the economy wasn't doing well,

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Speaker 1: I'd certainly be sitting here saying the economy had been

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Speaker 1: doing well for ten years and he tanked it. That's

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Speaker 1: not where we are, thank goodness. But you know, to

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Speaker 1: to your point, to Brendan's point, I agree. When you

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Speaker 1: start talking in a tariffs, I think that puts US

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Speaker 1: at major risk. And I hope. I mean I I

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Speaker 1: have faith the trip hasn't been canceled. I have faith

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Speaker 1: that something is going to come through. Why would you

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Speaker 1: want to miss it? I mean, the meeting is going

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Speaker 1: to be so interesting. If I were in the Chinese position,

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Speaker 1: I like, I'm not missing this. Here's what White House

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Speaker 1: of Here's what White House Press Secretary Sarah Sanders had

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Speaker 1: to say earlier today at the White House on the

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Speaker 1: US China trade deal. We've got an indication that they

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Speaker 1: want to make a deal. Our teams are in continued negotiations.

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Speaker 1: They're gonna sit down tomorrow and we'll see what happens

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Speaker 1: from there. That was White House Press Secretary Sarah Sanders

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Speaker 1: discussing the US China trade talks. Coming up. Much more

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Speaker 1: on US China trade policy with Brendan Buck and John Summers,

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Speaker 1: plus the latest on the investigations, uh really just swirling

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Speaker 1: around Capitol Hill and the latest breaking news uh this

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Speaker 1: evening Senate Intelligence Committee subpoena ng Donald Trump Junior. I'm

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Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and Bloomberg Radio.

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Speaker 1: You can download the Sound On podcast on Apple iTunes,

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Speaker 1: at Bloomberg dot com, or by downloading my favorite app,

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Speaker 1: the Bloomberg Business App. You can also find us on

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Speaker 1: Radio dot com, I Heart Radio, and Spotify. I'm Kevin Cirelli,

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Speaker 1: and you are listening to Bloomberg is Sound on. So

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Speaker 1: people think they're gonna rush your border, we just lock

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Speaker 1: up that border so tight nobody gets through. I mean

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Speaker 1: I do try. I think you try to. I've never

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Speaker 1: seen such a beautiful turkey. Always like to be truthful.

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Speaker 1: Behind the tweets. Really on Bloomberg and one oh five

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Speaker 1: point seven F M h D two Baltimore, Happy hump Day, folks.

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Speaker 1: We are going behind the tweet because the President had

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Speaker 1: a lot to say about former Vice President Joe Biden

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Speaker 1: now Democratic presidential candidate Joe Biden. And with China, China,

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Speaker 1: we're following the US China trade talks from every which

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Speaker 1: angle from the policy from Beijing to Wall Street Main Street.

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Speaker 1: A Beijing delegation is set to arrive here in Washington,

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Speaker 1: d C. Tomorrow on Thursday the whole trade talks with

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Speaker 1: President Trump. This as that deadline ticks down at twelve

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Speaker 1: oh one am on Friday, tariffs are set to increase

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Speaker 1: on billions of dollars worth of goods. They're already increased

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Speaker 1: by ten percent on billions of dollars worth of goods.

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Speaker 1: President Trump is saying he will jack them up to

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Speaker 1: twenty five cent. Wall Street has been going up and down,

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Speaker 1: gyrating back and forth in terms of all of the

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Speaker 1: latest volatility that has really just penetrated the street as

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Speaker 1: traders are trying to make their their way out of

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Speaker 1: all of this, and the supply chains really impacted Caterpillar,

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Speaker 1: John Deere, Boeing Uh and others. It has an impact,

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Speaker 1: is one economists put it particularly on low income Americans. Folks,

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Speaker 1: you shop at Walmart, nothing wrong with that. I still

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Speaker 1: shop at Walmart. And they're going to potentially see some

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Speaker 1: price increasing on clothing and on other goods. Everything impacted

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Speaker 1: from a soda cam which is of course made of

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Speaker 1: commodities and whatnot. But then think bigger picture, especially if

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Speaker 1: lot of the companies and the firms that we just

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Speaker 1: had on. Which is why President Trump's tweet was so interesting.

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Speaker 1: He said earlier this morning, quote the reason for the

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Speaker 1: China pullback and attempted renegotiation for the trade deal is this,

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Speaker 1: sincere hope that they will be able to negotiate with

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Speaker 1: Joe Biden or one of the very weak Democrats and

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Speaker 1: thereby continue to rip off the US for years to come.

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Speaker 1: Guess what not gonna happen. China has just informed us

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Speaker 1: that day, Vice Premier, the way are coming to the

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Speaker 1: US to make a deal. Will see. But I'm very

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Speaker 1: happy with over a hundred billion dollars a year in

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Speaker 1: tariffs filling US coffers. Great for US, not good for China.

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Speaker 1: Brendan Buck is former communications director to former Speaker Paul Ryan.

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Speaker 1: He's a partner at Blue Engine J d A. John

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Speaker 1: Summers is former communications director to a former State majority leader,

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Speaker 1: Harry Read. All Right, so who would be better against

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Speaker 1: the Chinese, John Trump or Biden. Well, what's ridiculous is

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Speaker 1: that he's just coming out trying to say, you know,

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Speaker 1: that he's the one coming to save the day, like

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Speaker 1: all this is going to be stalled for the next

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Speaker 1: two years. I just think it's ridiculous, and its once

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Speaker 1: again just this example of you know, president who's more

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Speaker 1: concerned about, you know, his own brand than he actually is,

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Speaker 1: you know, the results of his policies and how they

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Speaker 1: impact the American people. Those tariffs aren't necessarily filling the

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Speaker 1: American coffers. They're coming out of the pockets of American taxpayers.

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Speaker 1: That's right, And obviously this is sort of typical Trump bluster.

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Speaker 1: What I find most interesting about this is that his

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Speaker 1: name checking Joe Biden. I mean, at this point, clearly

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Speaker 1: Joe Biden is on his mind. This is the person

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Speaker 1: that he I think is most fearful of running against,

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Speaker 1: and I think for a good reason. I think Joe

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Speaker 1: Biden um is the probably the most inoffensive alternative to

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Speaker 1: a lot of people. The Democratic party is running far

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Speaker 1: to the left. Um, basically, everybody other than Joe Biden

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Speaker 1: is trying to set up this debate about, you know,

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Speaker 1: this is their progressive moment. We may have to make

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Speaker 1: sure that we elect the most progressive person so that

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Speaker 1: when we come in we can take over. And Joe

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Speaker 1: Biden is just saying I'll beat Trump, That's all I

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Speaker 1: want to do. And he basically has that lane to

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Speaker 1: himself at this point. And I think that's a big

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Speaker 1: reason why you're seeing him leading the polls right now. Well,

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Speaker 1: it's also, i think, to to Brendan's point, John, it's

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Speaker 1: interesting because Biden's whole pitch right now, not a big

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Speaker 1: portion of his pitch, is that he would be able

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Speaker 1: to win back some of those working class voters who

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Speaker 1: voted previously for Obama and then switched over to Trump

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Speaker 1: in states like Pennsylvania and the western portion of West Pennsylvania,

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Speaker 1: suburban Pittsburgh, what not Scranton, of course, where Biden has

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Speaker 1: staked a personal claim, as well, Ohio, Wisconsin, Detroit, all

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Speaker 1: of these more or working class areas. And it's interesting

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Speaker 1: because as the former Vice president campaigns to union workers

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Speaker 1: in particular, the first big speech he gave of his

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Speaker 1: presidential campaign was to union workers. I mean, this is

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Speaker 1: ground zero essentially of the trade war. Are these union workers?

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Speaker 1: So is there a bit to Brendan's point of that

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Speaker 1: that is factoring in this when the President is saying, hey,

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Speaker 1: I'm getting tough on China and Biden wouldn't be able to. Yeah, absolutely,

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Speaker 1: I mean into Brendan's point, I mean, Trump has made

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Speaker 1: it clear that Biden is the one he does not

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Speaker 1: want to run against. I mean, if you see the

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Speaker 1: look at the people he's attacking the most, those are

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Speaker 1: the people he's most fearful of. Right, And so you know,

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Speaker 1: it's not surprising to me, you know, going back to

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Speaker 1: your point about Biden campaigning in front of union workers,

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Speaker 1: That's exactly what I would be expecting, regardless of where

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Speaker 1: we are in these trade talks with China or at

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Speaker 1: any other point, because that's where his roots are. Um.

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Speaker 1: You know, we're talking a lot about his ability to

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Speaker 1: you know, win in some of these you know, the

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Speaker 1: rust belt states and so on. That's the message we're

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Speaker 1: hearing as d C insiders, Right, But that's not what

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Speaker 1: people that's me a d what do you do again?

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Speaker 1: But but careful what you wish for, My point being,

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Speaker 1: you know, that's not that's what you're picking up as

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Speaker 1: the message that he's selling. But that's not the message

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Speaker 1: that he's selling. The message he is actually selling when

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Speaker 1: he goes out on the trail. And to be clear,

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Speaker 1: I'm not behind any one of the candidates right now,

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Speaker 1: but the message he is selling when he goes out

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Speaker 1: on the trail right now is restoring American leadership, which

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Speaker 1: is I think something that we all agree on. And

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Speaker 1: at the at the end of the day, I think

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Speaker 1: a lot of people are feeling disenfranchised, they're feeling forgotten about,

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Speaker 1: and they're they're frustrated with the leadership that we're seeing.

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Speaker 1: Say right now, let me know when that changes, John Uh.

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Speaker 1: You know. But in terms of the politics of the

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Speaker 1: trade debate, especially with China ahead of the Beijing delegation

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Speaker 1: lead of course by Vice Premier Luihua are coming to

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Speaker 1: the US on Thursday. On Friday at the deadline takes

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Speaker 1: down for these billions of dollars worth of tariffs, it's

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Speaker 1: fascinating to get a glimpse into the political messaging coming

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Speaker 1: out of Biden world. Obviously from the President's Twitter account,

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Speaker 1: I mean the politics of this. This is really a

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Speaker 1: Polish a political policy issue. But up on Wall Street,

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Speaker 1: they are taking this so incredibly seriously and they're not

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Speaker 1: looking at it through the political lens, and in fact,

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Speaker 1: JP Morgan Chase CEO Jamie Diamond, speaking exclusively to Bloomberg

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Speaker 1: Television within the last twenty four hours, he said that

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Speaker 1: he also does not think that the US and China

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Speaker 1: will get a deal done by Friday. Coming up much

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Speaker 1: more on the fallout of US China trade talks, deal

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Speaker 1: or no deal, plus investigations up on Capital Hill, Breaking

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Speaker 1: news tonight, headlines crossing the Bloomberg terminal as the Senate

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Speaker 1: Intelligence Committee issues subpoenas to Donald Trump Jr. Over the

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Speaker 1: Russia investigation, and more fallout from Secretary of State Mike Pompeo.

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Speaker 1: What the latest pressure the State Department is putting on

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Speaker 1: Iran panel stage John Summers, former communications director to Senate

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Speaker 1: Majority Leader Harry Reid, and Brandon Buck former spokesman and

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Speaker 1: adviser to House Speaker Paul Ryan, now a partner at

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Speaker 1: Blue Engine j d A. You can download the sound

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Speaker 1: on podcast on Apple iTunes, at Bloomberg dot com, or

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Speaker 1: by downloading the Bloomberg Business app. You can also check

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Speaker 1: us out on Radio dot Com, I Heart Radio, and Spotify.

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Speaker 1: I'm Kevin Crelli, Chief Washington correspondent for Bloomberg Television and

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Speaker 1: Bloomberg Radio. And you're listening to Bloomberg. This is Sound

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Speaker 1: On with Kevin's Really on Bloomberg HD to Baltimore. The

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Speaker 1: saga continues up on Capitol Hill. The House Judiciary Committee

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Speaker 1: voted to whole Attorney General William barr In content of

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Speaker 1: Congress for failing to comply with the subpoena or Robert

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Speaker 1: Mueller's unredacted report. This as the White House continues to

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Speaker 1: assert executive privilege over the Special Council's worked. It was

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Speaker 1: the twenty four to sixteen partisan vote on Wednesday, and

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Speaker 1: it's the latest move in the escalating clash. As my

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Speaker 1: colleagues report for the Bloomberg Terminal, Stephen Dennis reports that

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Speaker 1: the escalating clash between House Democrats and President Trump. I'm

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Speaker 1: Kevin Cirelli, Chief Washington correspondent for Bloomberg Television and Bloomberg Radio.

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Speaker 1: We are joined in studio by an all star panel.

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Speaker 1: John Summers is former communications director to Democratic Senate Majority

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Speaker 1: Leader Harry Reid and rand and Buck. He is former

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Speaker 1: spokesman and adviser to former Speaker Paul Ryan. Now he's

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Speaker 1: a partner over at Blue Engine j d A. Alright, Brettan,

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Speaker 1: we were talking in the break, I mean, what does

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Speaker 1: this actually mean to be held in content of Congress?

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Speaker 1: What like? What? What? What? What does this mean aside

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Speaker 1: from just messaging? Yeah, I mean, ultimately, I don't think

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Speaker 1: it means a lot. Certainly you can try to enforce

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Speaker 1: a contempt, but that it's usually symbolic. I think what's

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Speaker 1: important to appreciate though at this point it's sort of

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Speaker 1: how bunkers it is that we are already at this stage.

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Speaker 1: Let me just back up. It is not unusual to

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Speaker 1: have disputes over UH requests for people to commit and testify.

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Speaker 1: It is not unusual to have disputes over document requests

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Speaker 1: and big fights between admit, the executive branch and the legislature.

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Speaker 1: That is that is normal. What usually happens is over

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Speaker 1: a period of months, period of weeks, they work things

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Speaker 1: out behind the scenes. They have accommodations, they negotiate, and

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Speaker 1: they come up with something and you work it out.

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Speaker 1: Now it's not necessarily unheard up to hold someone in

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Speaker 1: contempt for not complying with a request, but usually that's

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Speaker 1: at week ten, that's at month six. The fact that

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Speaker 1: we're one week after they asked him to come he's

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Speaker 1: already being held in contempt is sort of crazy. And

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Speaker 1: I guess what you saw today was a hail mary

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Speaker 1: play by the President to a certain executive privilege to

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Speaker 1: try to bail him out, hoping the Democrats could not

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Speaker 1: hold any contempt for something that he had privilege over,

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Speaker 1: and they just said, yeah, nope, that's fine, We're still

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Speaker 1: gonna hold you in contempt. So this is so fascinating.

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Speaker 1: And Brendan Buko has spent years up on Capitol Hill

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Speaker 1: in the House of Representatives, in the Speakers office as well. John,

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Speaker 1: And you know this from the Senate perspective. I mean,

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Speaker 1: take us behind the scenes, take us into the back

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Speaker 1: room meetings, because is this just political theater on both sides.

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Speaker 1: I think there's a very yes, there's political theater. I

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Speaker 1: think there's also no, but there's also a very real

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Speaker 1: concern about, you know, this separation of powers. And as

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Speaker 1: cliche as it's almost starting to sound because we hear

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Speaker 1: about it all the time, it is a very real concern.

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Speaker 1: And you know, to Brendan's point, I think he's right,

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Speaker 1: it's moved very quickly to move to contempt. But that's

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Speaker 1: also as a result of what this administration has led to.

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Speaker 1: I mean, if you go and tell Congress to go

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Speaker 1: take a flying leap, then clearly you've made it clear

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Speaker 1: that there's no there is no back back in negotiations.

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Speaker 1: There's no back room deal, so to speak. So they

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Speaker 1: move forward with what they have available to them. When

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Speaker 1: you have an administration that's not willing to have a conversation,

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Speaker 1: it's not willing to work with you, and all the

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Speaker 1: all they want to do is say no in an

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Speaker 1: exert executive privilege over everything. What else are they left

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Speaker 1: to do? I mean, my understanding is that he was

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Speaker 1: still willing to negotiate with him over terms that he

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Speaker 1: was that he would come into. I'm as far as

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Speaker 1: I know, he didn't say no way, no how, I

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Speaker 1: will not show up, no way, no how will you

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Speaker 1: not be given any documents? I think he'd already made

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Speaker 1: a request to the Democrats to show them, um everything

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Speaker 1: unredacted except for grand jury information, which is a normal

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Speaker 1: It's not like he's afraid to go out. He was

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Speaker 1: just that Martin's tavern and Georgetown the other night. I

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Speaker 1: mean with the n C I S guy right that show.

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Speaker 1: I'm like, first of all, I want to know what

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Speaker 1: booth they said in over in Martin's tavern? I was it?

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Speaker 1: Was it the Nixon booth? Was it that? What's the

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Speaker 1: other booth they have over there? Kennedy Kennedy, Well, no,

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Speaker 1: that's what That's where Martin's tavern was where JFK proposed

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Speaker 1: to Jackie I just like the Fried Green Tomatoes. But

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Speaker 1: back to politics, Okay, So we do have the House

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Speaker 1: Judiciary Committee Chairman Jerry Nadler speaking earlier after President Trump

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Speaker 1: invoked executive privilege over the full Muller report and it's

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Speaker 1: underlying evidence. Here's the chairman from the Democrat from New York.

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Speaker 1: This decision represents a clear escalation and the Trump administration's

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Speaker 1: blanket defiance of congress constitutionally mandated duties. So where does

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Speaker 1: it go from here? I still do still get work.

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Speaker 1: I feel I don't really know what Jerry Nadler is doing.

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Speaker 1: I mean, I understand that this felon is app and

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Speaker 1: he feels a responsibility to to try to make something

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Speaker 1: of it, But at this point, I don't really know

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Speaker 1: what they're trying to find out. We waited for two

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Speaker 1: years for a report from Robert Mueller. He was given

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Speaker 1: uh enormous resources to get to the bottom of all this,

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Speaker 1: and he produces report this. It's bizarre to me that

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Speaker 1: this conversation is taking place in the as though the

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Speaker 1: context is that this drawer, that this or this report

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Speaker 1: is in a drawer somewhere locked up and we don't

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Speaker 1: know what's in it. We know what's in it, and

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Speaker 1: to the extent that there were things that were held

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Speaker 1: back redacted, he's offered to make that available to them.

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Speaker 1: I don't know what it is that they think that

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Speaker 1: they're looking for. They know what what is out there,

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Speaker 1: and if they feel like that there should be a

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Speaker 1: next step like impeachment, go for it. And Speaker Pelosi

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Speaker 1: is warning on Tuesday the other day, I mean, she

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Speaker 1: was at what was at Washington Post event and she's

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Speaker 1: she's talking about impeachment. But see I was listening, you know,

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Speaker 1: you try to like decipher John through the lines in

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Speaker 1: particular about what she was saying. It was almost like

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00:24:00,080 --> 00:24:03,080
Speaker 1: she was trying to appease the far left in her party,

430
00:24:03,280 --> 00:24:08,239
Speaker 1: which is screaming for impeachment, but also you know, at

431
00:24:08,320 --> 00:24:10,040
Speaker 1: the same time in a weird but tamp it down

432
00:24:10,440 --> 00:24:13,200
Speaker 1: and and and she's essentially saying President Trump wants to

433
00:24:13,280 --> 00:24:16,639
Speaker 1: be impeached. So to Brendan's point, John, what is it

434
00:24:16,920 --> 00:24:21,840
Speaker 1: precisely that Democrats want? Well again, I think they want

435
00:24:21,880 --> 00:24:23,920
Speaker 1: bar to come testify again, right, I mean that's what

436
00:24:24,040 --> 00:24:26,480
Speaker 1: they're that's what they're looking for, and he should. And

437
00:24:26,600 --> 00:24:29,280
Speaker 1: this whole thing that we don't you know, it's ridiculous.

438
00:24:29,600 --> 00:24:31,639
Speaker 1: His big thing that he didn't want was to have

439
00:24:31,760 --> 00:24:35,240
Speaker 1: attorney's question him. Well, it seemed fine for the Republicans

440
00:24:35,320 --> 00:24:36,639
Speaker 1: on the Senate side when we were going through the

441
00:24:36,680 --> 00:24:39,040
Speaker 1: Kavanaugh hearing, and they wanted to do that. So this

442
00:24:39,320 --> 00:24:44,280
Speaker 1: this sort of you know, I don't even know, hypocrisy,

443
00:24:44,760 --> 00:24:50,000
Speaker 1: you know, is okay, you cannot respectfully are you comparing

444
00:24:50,119 --> 00:24:56,280
Speaker 1: the Justice Kavanaugh proceedings to the Mother investigation and a

445
00:24:56,440 --> 00:24:59,680
Speaker 1: g bar when I actually had a problem with on

446
00:24:59,800 --> 00:25:04,280
Speaker 1: this Senate side the Republicans abdicating fully their responsibility by

447
00:25:04,320 --> 00:25:07,440
Speaker 1: giving all of their questions to the attorneys, whereas they're

448
00:25:07,480 --> 00:25:09,639
Speaker 1: now saying, oh, wait to have an attorney in the

449
00:25:09,760 --> 00:25:11,960
Speaker 1: room and have them ask a couple of questions in

450
00:25:12,040 --> 00:25:15,000
Speaker 1: addition to you know, some of the members. Yeah, I

451
00:25:15,119 --> 00:25:17,800
Speaker 1: think they're I think there's actually I'll actually defend Johnny.

452
00:25:17,880 --> 00:25:20,800
Speaker 1: Is not an unprecedented to have a lawyer or a

453
00:25:20,920 --> 00:25:24,280
Speaker 1: staff or question a witness. That is not necessarily unusual

454
00:25:24,400 --> 00:25:28,800
Speaker 1: or unprecedented thing to do. So. But to my point,

455
00:25:28,880 --> 00:25:31,200
Speaker 1: I think there was a way to to work this

456
00:25:31,320 --> 00:25:32,800
Speaker 1: out if they wanted to work it out. But I

457
00:25:32,840 --> 00:25:34,440
Speaker 1: don't think they wanted to work it out. To your point,

458
00:25:34,480 --> 00:25:36,120
Speaker 1: I think they want some theater. I think they want

459
00:25:36,160 --> 00:25:38,720
Speaker 1: some drama. I think they want everybody talking about this

460
00:25:38,880 --> 00:25:41,639
Speaker 1: right now. Um now. Ultimately, I don't know if this

461
00:25:41,760 --> 00:25:43,720
Speaker 1: serves their political purposes because I don't feel like they

462
00:25:43,760 --> 00:25:46,000
Speaker 1: haven't laid a finger on Donald Trump in this entire time.

463
00:25:46,200 --> 00:25:48,920
Speaker 1: They've been training all their fire at Bar and that's fine.

464
00:25:49,000 --> 00:25:51,280
Speaker 1: Bar is probably not gonna be elected president, but that

465
00:25:51,320 --> 00:25:53,280
Speaker 1: shouldn't really be their focus at this point. All Right,

466
00:25:53,280 --> 00:25:56,240
Speaker 1: we're gonna leave it there. Coming up, Donald Trump Jr.

467
00:25:56,280 --> 00:25:59,520
Speaker 1: Speaking of investigations. He just got subpoenaed. So we're going

468
00:25:59,560 --> 00:26:02,960
Speaker 1: to be hearing from Tom Junior up on Capitol Hill

469
00:26:03,119 --> 00:26:05,600
Speaker 1: panel stage. John summers Brendan Buck. Download the Sound On

470
00:26:05,720 --> 00:26:09,160
Speaker 1: podcast on Apple iTunes, Bloomberg dot com, the Bloomberg Business App.

471
00:26:09,560 --> 00:26:12,119
Speaker 1: Check us out on Radio dot com, I Heart Radio

472
00:26:12,320 --> 00:26:16,520
Speaker 1: and Spotify. I'm Kevin CURRELLI Chief Washington correspondent for Bloomberg

473
00:26:16,600 --> 00:26:25,760
Speaker 1: Television and Bloomberg Radio. You are listening to Bloomberg. You're

474
00:26:25,840 --> 00:26:30,800
Speaker 1: listening to Sound On with Kevin Surreally on Bloomberg one

475
00:26:30,960 --> 00:26:35,240
Speaker 1: and one seven f m h D two Baltimore. Trade

476
00:26:35,280 --> 00:26:38,600
Speaker 1: Talk deadline coming up. Those tariffs sets an increase On

477
00:26:38,680 --> 00:26:42,320
Speaker 1: Friday twelve and one am. A China delegation, a trade

478
00:26:42,359 --> 00:26:44,960
Speaker 1: delegation arriving here in Washington, d C. In the next

479
00:26:45,000 --> 00:26:48,200
Speaker 1: couple of hours to meet with Treasury Secretary Stephen Manusian

480
00:26:48,320 --> 00:26:53,800
Speaker 1: US Trade Representative Bob Lightheiser. Wall streets on edge. Republicans

481
00:26:53,840 --> 00:26:56,879
Speaker 1: are on edge. They don't like the tariffs. It's already

482
00:26:56,920 --> 00:27:00,960
Speaker 1: trickling out into the presidential field. President Trump tweeted against

483
00:27:01,000 --> 00:27:04,320
Speaker 1: former Vice President Joe Biden, saying that he would be

484
00:27:04,400 --> 00:27:08,800
Speaker 1: tougher on trade against the Chinese. Meanwhile, the situation up

485
00:27:08,840 --> 00:27:14,720
Speaker 1: there on Capitol Hill well investigations. The House Judiciary Committee

486
00:27:14,760 --> 00:27:18,320
Speaker 1: voted to a whole Attorney General William Barr in contempt

487
00:27:19,160 --> 00:27:22,040
Speaker 1: of Congress for failing to comply with the subpoena for

488
00:27:22,119 --> 00:27:26,359
Speaker 1: Bob Mueller's unredacted report. I wonder if Bob Muller was

489
00:27:26,440 --> 00:27:28,919
Speaker 1: talking about that in Martin's tavern the other night when

490
00:27:28,960 --> 00:27:31,080
Speaker 1: he was spotted there over in Georgetown. I mean, like,

491
00:27:31,240 --> 00:27:34,040
Speaker 1: what what is Bob Muller thinking right now? He is? What?

492
00:27:34,280 --> 00:27:38,080
Speaker 1: He the only person in Washington who people want to

493
00:27:38,200 --> 00:27:42,840
Speaker 1: hear speak Republicans, Democrats, President Trump, probably even a G.

494
00:27:42,960 --> 00:27:47,359
Speaker 1: Barr is from Bob Muller and he goes to Martin Staver.

495
00:27:47,520 --> 00:27:49,400
Speaker 1: Can't make it up, folks, can't make it up. I'm

496
00:27:49,480 --> 00:27:53,440
Speaker 1: Kevin Cirelli, Chief Washington correspondent from Bloomberg Television and Bloomberg Radio.

497
00:27:53,880 --> 00:27:57,320
Speaker 1: John Summers is former communications director to former Senate Majority

498
00:27:57,440 --> 00:28:01,320
Speaker 1: Leader Harry Reid. Brendan Buck is from Georgia, and he

499
00:28:01,440 --> 00:28:04,320
Speaker 1: is also the former spokesman and adviser to former House

500
00:28:04,359 --> 00:28:07,159
Speaker 1: Speaker Paul Ryan. Now he's a partner at Blue Engine

501
00:28:07,440 --> 00:28:10,639
Speaker 1: j d A. Did you guys see this headline that

502
00:28:10,720 --> 00:28:13,800
Speaker 1: just crossed the Bloomberg terminal within the last hour, Donald

503
00:28:13,880 --> 00:28:18,040
Speaker 1: Trump Jr. Gets subpoenaed not by the House, but by

504
00:28:18,119 --> 00:28:22,720
Speaker 1: the Senate, the Senate Intelligence Committee, the Republican controlled Senate

505
00:28:22,760 --> 00:28:26,639
Speaker 1: Intelligence Committee. My colleague Shannon Petty Peace and Laura Curtis,

506
00:28:26,800 --> 00:28:30,520
Speaker 1: writing for Bloomberg, quote, the Senate Intel Committee subpoena Donald

507
00:28:30,560 --> 00:28:35,440
Speaker 1: Trump Junior over testimony he gave two Senate investigators related

508
00:28:35,520 --> 00:28:38,440
Speaker 1: to the Russia probe. The committee wants him to respond

509
00:28:38,560 --> 00:28:43,080
Speaker 1: to Michael Cohen's testimony on the Trump Tower Moscow project

510
00:28:43,240 --> 00:28:48,080
Speaker 1: somewhere behind bars, I would presume if he can. Michael Cohen,

511
00:28:48,160 --> 00:28:52,040
Speaker 1: President Trump's former personal fixer and longtime attorney, probably getting

512
00:28:52,040 --> 00:28:54,680
Speaker 1: a good chuckle on this because he's still having the

513
00:28:54,720 --> 00:28:59,240
Speaker 1: ghost of Michael Cohen is still being cast into Washington,

514
00:28:59,360 --> 00:29:02,400
Speaker 1: d C. Let's take a little bit from or let's

515
00:29:02,440 --> 00:29:04,080
Speaker 1: hear a little bit from what Don Junior told me

516
00:29:04,520 --> 00:29:07,520
Speaker 1: when he called into my show in March after the

517
00:29:07,600 --> 00:29:10,440
Speaker 1: Mueller report came out. Here's not take a listen. Wow,

518
00:29:10,520 --> 00:29:13,920
Speaker 1: this was an incredible vindication for my father, for myself,

519
00:29:14,880 --> 00:29:18,080
Speaker 1: for our family. You know, more importantly, it was a

520
00:29:18,200 --> 00:29:22,760
Speaker 1: vindication for all those great Americans that duck by. That

521
00:29:22,880 --> 00:29:26,800
Speaker 1: was Donald Trump Jr. Talking to Bloomberg a couple of

522
00:29:26,880 --> 00:29:30,400
Speaker 1: weeks ago. John I mean, what more do they like?

523
00:29:30,560 --> 00:29:33,520
Speaker 1: What more are they trying to find out? That was

524
00:29:33,520 --> 00:29:36,280
Speaker 1: a couple of months ago. Actually time flies. Christine Barrado,

525
00:29:36,400 --> 00:29:39,959
Speaker 1: executive producer of Sound On, Uh, what what were they

526
00:29:40,120 --> 00:29:42,640
Speaker 1: looking for here? What? What? What more is there to get?

527
00:29:42,840 --> 00:29:45,400
Speaker 1: What with with respect to the Senate, John, I know

528
00:29:45,520 --> 00:29:47,960
Speaker 1: you come from there. What more can they get that

529
00:29:48,040 --> 00:29:51,800
Speaker 1: Bob Mueller couldn't get? Well? First, can't go on? Challenged

530
00:29:51,880 --> 00:29:55,520
Speaker 1: that the Mueller report did not exonerate Donald Trump as

531
00:29:55,640 --> 00:29:58,280
Speaker 1: much as his son Trump Junior would like for people

532
00:29:58,320 --> 00:30:01,200
Speaker 1: to believe so. Um. But in terms of what they're thinking,

533
00:30:01,280 --> 00:30:04,400
Speaker 1: it's a great question because this is the Senate Intelligence Committee.

534
00:30:04,640 --> 00:30:08,320
Speaker 1: This is led by Republicans, not led by Democrats. So

535
00:30:09,400 --> 00:30:14,280
Speaker 1: I'm at loss. I think what they I think it's fascinating.

536
00:30:14,680 --> 00:30:17,760
Speaker 1: Obviously we need to get more information. But remember one

537
00:30:17,840 --> 00:30:20,560
Speaker 1: of the things that Michael Cohen went to jail four

538
00:30:21,480 --> 00:30:25,680
Speaker 1: was lying to Congress about the Moscow project. Um. Now,

539
00:30:25,800 --> 00:30:28,360
Speaker 1: it turned out not to be the smoking gun as

540
00:30:28,400 --> 00:30:30,680
Speaker 1: it related to any type of coordination or collusion with

541
00:30:30,720 --> 00:30:35,440
Speaker 1: the Russians, but he miss led the House Intelligence Committee,

542
00:30:35,480 --> 00:30:37,680
Speaker 1: and and that's one of the reasons that he's in jail.

543
00:30:38,000 --> 00:30:40,600
Speaker 1: It's interesting to me that this is the same topic

544
00:30:40,800 --> 00:30:43,360
Speaker 1: apparently that they're interested in my guests. If I were

545
00:30:43,400 --> 00:30:45,120
Speaker 1: to speculate, is that they now that they have the

546
00:30:45,240 --> 00:30:48,240
Speaker 1: Mueller Report, they're able to go back and and cross

547
00:30:48,360 --> 00:30:51,400
Speaker 1: check what he had found and what he was told. Um.

548
00:30:51,640 --> 00:30:56,280
Speaker 1: But curiously, I would assume if Bob Mueller was able

549
00:30:56,360 --> 00:30:59,680
Speaker 1: to decipher that that Cohen had lied, he would also

550
00:30:59,760 --> 00:31:02,600
Speaker 1: know that Donald Trump Junior had lied as well. So

551
00:31:02,680 --> 00:31:05,840
Speaker 1: if if if there's something that that he has, I'd

552
00:31:05,880 --> 00:31:11,840
Speaker 1: be curious what it is. Wow. No, I mean, I mean,

553
00:31:11,880 --> 00:31:13,760
Speaker 1: I think Brendan summed it up perfectly. I think we

554
00:31:14,160 --> 00:31:17,760
Speaker 1: need to hear from the committee chairs to why they're

555
00:31:17,760 --> 00:31:19,800
Speaker 1: going about the fact that it is a Republican led

556
00:31:19,920 --> 00:31:22,600
Speaker 1: committee is interesting to me and I would love to

557
00:31:22,640 --> 00:31:25,160
Speaker 1: get some more information about what it is that tipped

558
00:31:25,200 --> 00:31:26,840
Speaker 1: them off at this point that they want to have

559
00:31:27,040 --> 00:31:28,960
Speaker 1: him come back in. And I'm sure we're gonna end

560
00:31:29,040 --> 00:31:31,480
Speaker 1: up with another fight on our hands with him refusing

561
00:31:31,520 --> 00:31:34,800
Speaker 1: to come in and refusing to come back for further questioning.

562
00:31:35,560 --> 00:31:38,440
Speaker 1: It's it's it's it's gonna be interesting. The saga continues.

563
00:31:38,560 --> 00:31:43,000
Speaker 1: We chronicle it every single day. What's fascinating though, or

564
00:31:43,080 --> 00:31:45,080
Speaker 1: I think not. I mean what what is also notable

565
00:31:45,120 --> 00:31:46,880
Speaker 1: to both of your points is that when you testified

566
00:31:46,920 --> 00:31:49,800
Speaker 1: before Congress, and this tripped up Michael Cohen, you cannot

567
00:31:49,920 --> 00:31:54,360
Speaker 1: lie in congressional testimony. You can't lie because you'll get

568
00:31:54,440 --> 00:31:56,200
Speaker 1: you trip over yourself. The next thing you know, you

569
00:31:56,440 --> 00:31:58,840
Speaker 1: know you're lying under oath. So I mean, it could

570
00:31:58,840 --> 00:32:01,120
Speaker 1: be a perjury trap, could not be. You got to

571
00:32:01,160 --> 00:32:03,080
Speaker 1: be careful with those words. Well, and this is one

572
00:32:03,120 --> 00:32:04,840
Speaker 1: of those cases where things have changed a little bit.

573
00:32:04,920 --> 00:32:07,400
Speaker 1: People have gotten used to lying to Congress right and

574
00:32:07,520 --> 00:32:10,360
Speaker 1: getting away with it, and now we're seeing, for the

575
00:32:10,440 --> 00:32:13,160
Speaker 1: first time in quite a while, people actually going to

576
00:32:13,280 --> 00:32:17,920
Speaker 1: jail as a result of it. Correct I and I

577
00:32:18,000 --> 00:32:23,240
Speaker 1: don't think either political party has a monopoly only I

578
00:32:23,320 --> 00:32:25,280
Speaker 1: do want to switch here though. I want to switch

579
00:32:25,360 --> 00:32:28,840
Speaker 1: gears because there was some major developments on foreign policy,

580
00:32:29,440 --> 00:32:33,400
Speaker 1: particularly with President Trump UH and Iran. President Trump has

581
00:32:33,520 --> 00:32:39,360
Speaker 1: banned trade in Iranian medals, ratcheting up tensions. The President

582
00:32:39,360 --> 00:32:43,160
Speaker 1: Trump issuing in an executive order on Wednesday prohibiting the

583
00:32:43,240 --> 00:32:47,760
Speaker 1: purchase of Ronny and iron, steel, aluminum, and copper. This

584
00:32:47,960 --> 00:32:51,400
Speaker 1: is they've completely pummeled Iron with sanctions. I want to

585
00:32:51,480 --> 00:32:55,320
Speaker 1: play for you Secretary of State Mike Pompeo discussing this

586
00:32:56,160 --> 00:32:59,360
Speaker 1: UH of Ronnie and threat. Here is Secretary of State

587
00:32:59,440 --> 00:33:03,040
Speaker 1: Mike Pompey in London. We share the same perception of

588
00:33:03,080 --> 00:33:05,720
Speaker 1: the Iranian threat and we are together trying to find

589
00:33:05,760 --> 00:33:08,600
Speaker 1: new ways to work closely to combat that threat. Pompei

590
00:33:08,680 --> 00:33:11,160
Speaker 1: has been on this global trip as he's gone everywhere,

591
00:33:11,200 --> 00:33:14,280
Speaker 1: including to have the Middle East to meet with troops

592
00:33:14,320 --> 00:33:17,920
Speaker 1: as well. But it's the latest indication that the that

593
00:33:18,040 --> 00:33:22,640
Speaker 1: the administration is continuing to pressure Brendan and Iran. UH.

594
00:33:23,120 --> 00:33:27,560
Speaker 1: How how would you grade the administration with Iran? Well,

595
00:33:27,600 --> 00:33:31,000
Speaker 1: at some point, you know, we have to a decision

596
00:33:31,080 --> 00:33:33,760
Speaker 1: was made a year ago to back out of the

597
00:33:34,160 --> 00:33:37,160
Speaker 1: Russia or the Iran agreement, and if we're going to

598
00:33:37,240 --> 00:33:39,160
Speaker 1: do that, there also that needs to be followed through.

599
00:33:39,200 --> 00:33:40,880
Speaker 1: And I think that's what you're seeing here. You know,

600
00:33:40,960 --> 00:33:45,040
Speaker 1: we've we've put in place sanctions and then you can't

601
00:33:45,040 --> 00:33:46,520
Speaker 1: just let them sit. They need they need to be

602
00:33:46,600 --> 00:33:49,320
Speaker 1: live things that you that you monitor behavior and you

603
00:33:49,400 --> 00:33:52,240
Speaker 1: step up. I think we've been a bit um out

604
00:33:52,320 --> 00:33:54,920
Speaker 1: on an island UH in the international community on this

605
00:33:55,000 --> 00:33:56,680
Speaker 1: and I think that's why you're seeing POMPEII ab out

606
00:33:56,680 --> 00:33:58,640
Speaker 1: there trying to get other nations to take the same

607
00:33:58,680 --> 00:34:01,400
Speaker 1: approach that we have UM. But obviously we're heading to

608
00:34:01,560 --> 00:34:04,560
Speaker 1: toward a bit of a conflict because um Uranians are

609
00:34:04,640 --> 00:34:07,760
Speaker 1: are are reacting and knowing that John Bolton is in

610
00:34:07,800 --> 00:34:09,839
Speaker 1: the White House and he has sort of an itchy

611
00:34:09,840 --> 00:34:11,799
Speaker 1: trigger figure on these type of things. UM. I think

612
00:34:11,880 --> 00:34:15,680
Speaker 1: we're probably going to see um more of this escalation

613
00:34:15,760 --> 00:34:18,040
Speaker 1: going forward. And quite honestly, you can't look at this

614
00:34:18,120 --> 00:34:20,440
Speaker 1: stuff in a vacuum because you know the North Koreans

615
00:34:20,440 --> 00:34:23,080
Speaker 1: are keeping a close tabs on this as well. Look

616
00:34:23,120 --> 00:34:26,480
Speaker 1: earlier this month, the US revoked waivers that had allowed

617
00:34:26,520 --> 00:34:30,719
Speaker 1: eight countries, including India and China. China including China, to

618
00:34:30,880 --> 00:34:35,520
Speaker 1: import Irani and oil despite American sanctions. Now those waivers

619
00:34:35,600 --> 00:34:38,839
Speaker 1: are gone, they ripped them up, throw them out, They're gone.

620
00:34:38,920 --> 00:34:43,520
Speaker 1: So the pressure continues with Iran UH and it continues

621
00:34:43,640 --> 00:34:47,520
Speaker 1: on a trade front with the Chinese. Much more all

622
00:34:47,600 --> 00:34:50,960
Speaker 1: week on special coverage of Bloomberg Television and Bloomberg Radio

623
00:34:51,040 --> 00:34:53,959
Speaker 1: on the US China Trade talks. My special thanks too,

624
00:34:54,840 --> 00:34:59,040
Speaker 1: Brendan Buck. He of course is a partner at Blue Engine.

625
00:34:59,120 --> 00:35:01,920
Speaker 1: J d a and former spokesman to former House Speaker

626
00:35:02,280 --> 00:35:06,000
Speaker 1: Paul Ryan and John Summers, former communications director to former

627
00:35:06,080 --> 00:35:09,240
Speaker 1: Senate Majority Leader Harry Reid. Thank you both for stopping

628
00:35:09,320 --> 00:35:12,440
Speaker 1: by to talk all things politics. Thank you and policy.

629
00:35:12,480 --> 00:35:15,840
Speaker 1: I'm Kevin CURRELLI, Chief Washington correspondent from Bloomberg Television and

630
00:35:15,880 --> 00:35:19,480
Speaker 1: Bloomberg Radio. You can download the sound on podcast on

631
00:35:19,600 --> 00:35:23,040
Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the

632
00:35:23,080 --> 00:35:25,719
Speaker 1: Bloomberg Business app. You can also check me out as

633
00:35:25,760 --> 00:35:29,400
Speaker 1: well as my colleagues on radio dot com, I Heart Radio,

634
00:35:29,640 --> 00:35:32,799
Speaker 1: and Spotify. Have a great day, draft safe you are

635
00:35:32,920 --> 00:35:33,920
Speaker 1: listening to Bloomberg