Trump Defends Tariff Plan in Bloomberg Interview; Chip Stocks Walloped

Bloomberg Audio Studios, Podcasts, Radio News. 0:00:10.080 --> 0:00:12.879 Good morning, I'm Nathan Hager and I'm John Tucker. Here 0:00:12.880 --> 0:00:14.440 are these stories we're following today. 0:00:14.520 --> 0:00:17.360 John, we begin with a conversation with Donald Trump. The 0:00:17.400 --> 0:00:20.000 former president sat down with Bloomberg News editor in chief 0:00:20.079 --> 0:00:23.040 John Mickelthwaite at the Economic Club of Chicago, giving a 0:00:23.160 --> 0:00:27.240 spirited defense of his economic policy, focused heavily on tariffs. 0:00:27.440 --> 0:00:30.720 To me, the most beautiful word in the dictionary is tariff, 0:00:31.640 --> 0:00:35.239 and it's my favorite word. It needs a public relations 0:00:36.560 --> 0:00:40.320 firm to help to miss your most beautiful word. 0:00:40.680 --> 0:00:43.360 And Donald Trump argued that obnoxious tariffs and his words 0:00:43.400 --> 0:00:46.000 would force companies to bring manufacturing to the US to 0:00:46.080 --> 0:00:48.640 avoid levies, and he dismissed the idea they would disrupt 0:00:48.640 --> 0:00:51.280 supply chains or squeeze small business where. 0:00:51.120 --> 0:00:54.560 The former president also discussed the FED and sidestep a 0:00:54.680 --> 0:00:57.760 question about whether he tried to remove Jay Powell as chairman, 0:00:58.080 --> 0:00:59.960 but he'd mocked the job of running the FED. 0:01:00.400 --> 0:01:03.720 I think it's the greatest job in government. You show 0:01:03.800 --> 0:01:06.200 up to the office once a month and you say, 0:01:06.319 --> 0:01:10.880 let's say, flip a coo, and everybody talks about you 0:01:11.000 --> 0:01:12.600 like your god. Oh, what will he do. 0:01:12.920 --> 0:01:15.199 Trump says it's fair game to talk to the Fed 0:01:15.240 --> 0:01:18.520 shairman about where interest rate should be, but that doesn't 0:01:18.560 --> 0:01:21.040 mean the president should mandate the decision. 0:01:21.280 --> 0:01:24.000 And John Former President Trump also declined to confirm a 0:01:24.040 --> 0:01:26.800 report in Washington Post journalist Bob Woodard's new book that 0:01:26.800 --> 0:01:30.039 he has spoken with Russian President Vladimir Putin several times 0:01:30.080 --> 0:01:31.080 since he left office. 0:01:31.240 --> 0:01:33.080 Well, I don't comment on that, but I will tell 0:01:33.120 --> 0:01:35.600 you that if I did, it's a smart thing. If 0:01:35.600 --> 0:01:38.880 I'm friendly with people, If I have a relationship with people, 0:01:39.480 --> 0:01:40.840 that's a good thing, not a bit I think in 0:01:40.959 --> 0:01:41.880 terms of a country. 0:01:42.280 --> 0:01:44.360 And Trump also said he would accept the result of 0:01:44.400 --> 0:01:47.720 next month's election if it's a fair process. He downplayed 0:01:47.720 --> 0:01:51.200 the violence on January sixth, twenty twenty one, saying, quote, 0:01:51.320 --> 0:01:53.840 a lot of strange things happen. You can listen to 0:01:53.880 --> 0:01:56.400 the full sixty minute conversation with Bloomberg editor in chief 0:01:56.480 --> 0:01:58.920 John Mickelwaite on the Bloomberg Talks podcast. We will have 0:01:59.040 --> 0:02:01.000 much more from the interview from the Economic Club of 0:02:01.080 --> 0:02:02.800 Chicago throughout the morning. 0:02:03.000 --> 0:02:05.600 Meanwhile, Katala Harris also too to the airwave. She was 0:02:05.640 --> 0:02:09.119 in Detroit for a town hall with radio hosts Charlemagne 0:02:09.120 --> 0:02:12.320 to God, pressing her case for more black men, especially 0:02:12.400 --> 0:02:15.680 to support her, Harris says it would she would work 0:02:15.720 --> 0:02:17.440 to decriminalize marijuana. 0:02:17.919 --> 0:02:21.480 My pledge is, as president, I will work on decriminalizing 0:02:21.520 --> 0:02:25.120 it because I know exactly how those laws have been 0:02:25.240 --> 0:02:30.399 used to disproportionately impact certain populations and specifically black men. 0:02:30.680 --> 0:02:34.320 Harris also said financial reparations for Black Americans needs to 0:02:34.320 --> 0:02:35.359 be studied. 0:02:35.120 --> 0:02:38.480 And Harris and Trump, meanwhile john remain neck and neck 0:02:38.680 --> 0:02:40.600 in the race with less than three weeks to go. 0:02:40.800 --> 0:02:44.240 The latest nationwide survey conducted by the Marquette Law School 0:02:44.240 --> 0:02:47.440 shows Harris leading Trump forty eight to forty seven percent 0:02:47.480 --> 0:02:50.800 among likely voters. That one point difference is within the 0:02:50.840 --> 0:02:53.600 poll's four point seven percent margin of error. 0:02:53.760 --> 0:02:57.399 Well, Harris may be leading in political donations. Trump has 0:02:57.440 --> 0:03:00.680 picked up some big name support. Elon MSS poured seventy 0:03:00.680 --> 0:03:03.639 five billion dollars into the Super Political Action Committee he 0:03:03.720 --> 0:03:08.360 created earlier this year. Billionaire Miriam adels inpoured ninety five 0:03:08.400 --> 0:03:12.239 million dollars into her super pack supporting Trump. Adventure capitalist 0:03:12.320 --> 0:03:15.320 Mark Andrewsen and Ben Horowitz each donated two and a 0:03:15.360 --> 0:03:18.840 half million dollars to a pro Donald Trump Super Political 0:03:18.880 --> 0:03:22.400 Action Committee. This according to the latest filings with the 0:03:22.440 --> 0:03:23.840 Federal Election Commission. 0:03:24.040 --> 0:03:25.839 Now let's turned to the latest from the Middle East. 0:03:25.919 --> 0:03:29.400 The Biden administration is warning Israel it must improve aid 0:03:29.639 --> 0:03:32.240 to Gaza. We get more from Bloomberg Middle East anchored 0:03:32.280 --> 0:03:33.079 Jimana Borsecci. 0:03:33.520 --> 0:03:36.720 A letter was leaked yesterday and this wasn't actually it 0:03:36.760 --> 0:03:40.120 was intended for the public to see that the Biden 0:03:40.200 --> 0:03:43.360 administration had sent to Israel warning that they would need 0:03:43.400 --> 0:03:46.280 to improve an increasingly dirish humanitarian crisis in the Gaza 0:03:46.320 --> 0:03:49.160 Strip within thirty days, and that if they did not 0:03:49.320 --> 0:03:51.640 do that then they could in theory cut the flow 0:03:51.680 --> 0:03:54.240 of US weapons if the situation didn't improve. Just to 0:03:54.240 --> 0:03:57.600 give you context here, Typically the number that they set 0:03:57.640 --> 0:03:59.960 for trucks entering into Gaza should be three hundred fIF 0:04:00.200 --> 0:04:03.000 trucks a day. In September it was the lowest number 0:04:03.000 --> 0:04:05.840 of trucks recorded for this year. 0:04:06.120 --> 0:04:09.280 Bloomberg's Jamani Barsati says less than one hundred trucks per 0:04:09.360 --> 0:04:10.640 day have been entering Gaza. 0:04:10.880 --> 0:04:13.640 And turning to the markets, Big Banks earnings wrap up 0:04:13.680 --> 0:04:17.440 this morning with Morgan Stanley reporting before the open, Alison 0:04:17.480 --> 0:04:19.920 Williams covers the banks for Bloomberg Intelligence. 0:04:20.320 --> 0:04:23.000 For Morgan Stanley, we expect to see a top line 0:04:23.320 --> 0:04:27.080 boosted by the very robust markets that we've seen in 0:04:27.120 --> 0:04:29.680 the past few months, similar to what we've seen at 0:04:29.680 --> 0:04:33.960 the other large US banks. Strength and equities training especially 0:04:34.040 --> 0:04:36.880 place to Morgan Stanley's business model, as they are more 0:04:36.920 --> 0:04:41.280 skewed toward that business versus fixed income. Trading fee growth 0:04:41.480 --> 0:04:44.720 will also be a highlight. Finally, for Morgan Stanley, the 0:04:44.800 --> 0:04:47.719 key thing we'll be focusing on is the trend in 0:04:47.760 --> 0:04:51.000 their wealth flows. This is a key gauge of business health, 0:04:51.040 --> 0:04:54.320 and the better markets may have helped stoke some interest 0:04:54.520 --> 0:04:55.200 from clients. 0:04:55.279 --> 0:04:59.320 Bloomberg Intelligences Alison Williams says to look for those Morgan 0:04:59.360 --> 0:05:01.640 Stanley earnings around seven thirty Wall Street time. 0:05:01.839 --> 0:05:04.839 Well, we're also looking john at chipstocks this morning after 0:05:04.880 --> 0:05:07.679 a combined four hundred twenty billion dollars in market value 0:05:07.680 --> 0:05:09.880 as erased from that sector. A slower outlook from key 0:05:09.880 --> 0:05:14.560 equipment supplier ASML Holding sparked a global route. The warning 0:05:14.600 --> 0:05:16.960 from the Netherlands based company put an abrupt end to 0:05:16.960 --> 0:05:21.159 the recent tech rally. Invidia sank nearly five percent yesterday, 0:05:21.400 --> 0:05:24.640 after hitting a record close earlier this week, ASML shares 0:05:24.680 --> 0:05:27.720 tumbled the most since nineteen ninety eight in Europe after 0:05:27.760 --> 0:05:30.640 the manufacture of the world's most advanced chip making machines 0:05:31.000 --> 0:05:35.040 cut its outlook on sluggishness in areas beyond AI. This morning, 0:05:35.120 --> 0:05:38.200 shares of Nvidia are higher by about six tens of 0:05:38.200 --> 0:05:38.960 one percent. 0:05:38.880 --> 0:05:42.200 And Nathan, we're also seeing LVMH shares under pressure. They're 0:05:42.200 --> 0:05:44.640 down more than five percent. Shares of the fashion retailer, 0:05:44.920 --> 0:05:48.320 whose brands include Louis Vuitton and Kristin Dior a film 0:05:48.360 --> 0:05:50.800 for the first time since the pandemic. 0:05:50.480 --> 0:05:54.039 And sticking in Europe, John UK inflation has slipped below 0:05:54.200 --> 0:05:56.520 the Bank of England's two percent target for the first 0:05:56.520 --> 0:05:58.800 time in three and a half years, a fall that 0:05:58.880 --> 0:06:01.680 sets the stage for a second interest rate cut from 0:06:01.760 --> 0:06:05.919 the BOE next month. Consumer prices rose one point seven 0:06:05.960 --> 0:06:13.240 percent in September compared to a year prior, and is. 0:06:13.279 --> 0:06:15.440 Now five oos siviled on Wall Street Time for a 0:06:15.440 --> 0:06:17.080 look at some of the other stories making news in 0:06:17.120 --> 0:06:19.280 New York and around the world. And for that we're 0:06:19.320 --> 0:06:21.200 joined by Bloomberg's Michael Barr. 0:06:21.240 --> 0:06:24.520 Michael, good morning, Good morning, John, and Atlanta judge has 0:06:24.640 --> 0:06:27.560 blocked a last minute moved by the Georgia State Election 0:06:27.640 --> 0:06:31.640 Board to require a hand count of ballots across local 0:06:31.680 --> 0:06:36.280 precincts statewide in the November presidential race. Last night, Fulton 0:06:36.320 --> 0:06:40.240 County Superior Court Judge Robert McBurney signed with challengers who 0:06:40.360 --> 0:06:45.960 argued the Republican majority election board risks introducing confusion and 0:06:46.000 --> 0:06:49.880 delays into the process by adopting the handcount rule so 0:06:50.040 --> 0:06:53.520 close to election day. In his ruling, Judge McBurnie wrote, 0:06:53.600 --> 0:06:56.640 it was too much, too late. One person has died 0:06:56.680 --> 0:06:59.960 in the multi state listeria outbreak link to Deli Meets. 0:07:00.440 --> 0:07:03.280 According to the CDC, it brings the total to at 0:07:03.320 --> 0:07:07.760 least ten deaths. The US Department of Agricultures Inspector General 0:07:08.160 --> 0:07:11.840 is launching an internal investigation into the agency's handling of 0:07:11.920 --> 0:07:16.800 the deadly bores Head outbreak. Senator Richard Blumenthal of Connecticut. 0:07:16.360 --> 0:07:20.280 We need a food safety agency, not just a part 0:07:20.360 --> 0:07:26.600 of the FDA, that will guarantee the supply chain, the manufacture, 0:07:27.040 --> 0:07:32.120 the shipping, and everything associated with food, because there are 0:07:32.160 --> 0:07:35.920 literally thousands of contaminated products on the market every year, 0:07:36.000 --> 0:07:37.720 and they can cause sickness and even death. 0:07:38.000 --> 0:07:40.560 A total of fifty nine people have been infacted and 0:07:40.600 --> 0:07:44.960 hospitalized across nineteen states so far. The cleanup and recovery 0:07:45.000 --> 0:07:48.040 efforts continue in parts of Florida that we're hit hard 0:07:48.080 --> 0:07:52.320 by Hurricane Milton. Governor Ron DeSantis and Zephyr Hills said 0:07:52.400 --> 0:07:54.280 power is being restored quickly. 0:07:54.760 --> 0:08:00.600 We've now had over four million accounts restore to power 0:08:00.720 --> 0:08:05.240 since Hurricane Milton came. That is the fastest that's ever 0:08:05.320 --> 0:08:07.200 been done for that many accounts. 0:08:07.520 --> 0:08:10.160 At least twenty three people have died from the storm 0:08:10.240 --> 0:08:14.080 in Florida. Former Clark County Public Administrator Robert Tullis, who 0:08:14.080 --> 0:08:17.680 has found guilty of murdering Las Vegas Review General investigative 0:08:17.680 --> 0:08:21.200 reporter Jeff Jerman, is set to be sentenced today. The 0:08:21.320 --> 0:08:24.240 jury already sentenced tell Us to lifetime in prison at 0:08:24.240 --> 0:08:28.000 wherever the judge could lessen the sentence. Global News twenty 0:08:28.040 --> 0:08:30.200 four hours a day and whenever you want it with 0:08:30.280 --> 0:08:33.600 the Bloomberg News. Now, I'm Michael Barr, and this is Bloomberg. 0:08:33.679 --> 0:08:39.320 John. Michael, thank you, and that brings us to five 0:08:39.440 --> 0:08:41.360 h nine on Wall Street Time down for the Bloomberg 0:08:41.440 --> 0:08:43.960 Sports ub Day, brought to you by Tri State Aldi 0:08:44.280 --> 0:08:46.720 under bad Chris John Stashauer. 0:08:46.920 --> 0:08:47.520 All right John. 0:08:47.559 --> 0:08:50.280 The Yankees halfway towards winning the ALCS would be the 0:08:50.320 --> 0:08:52.440 first time in two thousand and nine's the second since 0:08:52.480 --> 0:08:54.920 oh one at the stadium the RBI doubles and Alex 0:08:55.160 --> 0:08:57.440 Dugos second, and in Anthony Rizzo and the sixth, and 0:08:57.440 --> 0:09:00.120 then in the seventh. Something that usually happens off but 0:09:00.240 --> 0:09:01.080 lately is not. 0:09:03.360 --> 0:09:03.720 Judge. 0:09:03.760 --> 0:09:07.160 It's a high fly at a center Backos Thomas on 0:09:07.320 --> 0:09:14.880 the track near the wall. She's gone, Aaron Judge hit 0:09:14.880 --> 0:09:18.120 the ball so high you wonder it came down in 0:09:18.280 --> 0:09:24.560 Monument Park. HiT's a Judge in glass all rise, Here 0:09:25.160 --> 0:09:27.079 comes the Judge. 0:09:27.120 --> 0:09:28.920 F an had it Judges first home in the moost 0:09:28.960 --> 0:09:31.839 three ways. Yanks beat the Guardian sixty three. Geric cole 0:09:31.960 --> 0:09:34.160 nodded at his best, gave up six hits, four walks 0:09:34.160 --> 0:09:37.560 with the Yankee bullpen's been outstanding. Tim Hill got five outs, 0:09:37.600 --> 0:09:40.319 Tommy Cainley got four of The Yanks go to Cleveland 0:09:40.360 --> 0:09:43.360 up two nothing, Game three Tomorrow, Game three NLCS Tonight 0:09:43.440 --> 0:09:46.559 City Field, Mets and Dodgers died at one. Luis Severino 0:09:46.640 --> 0:09:49.640 against Walker Buehler, the one time Dodger Ace, who's had 0:09:49.840 --> 0:09:53.360 two Tommy John surgeries. Buller only won one game this season, 0:09:53.360 --> 0:09:55.320 he got roughed up by the Padres and his one 0:09:55.559 --> 0:09:58.240 postseason start. The trade of Demonte Adams when the Raiders 0:09:58.240 --> 0:10:00.480 of the Jets, something that's been rumored to take ever 0:10:00.520 --> 0:10:03.320 since Aaron Rodgers joined the Jets. The two worked together 0:10:03.360 --> 0:10:05.920 for eight years in Green Bay. Now a reality, with 0:10:06.040 --> 0:10:08.960 Las Vegas getting a conditional third round draft pick, Adams 0:10:09.000 --> 0:10:11.439 will try to quickly learn the playbook help the Jets. 0:10:11.440 --> 0:10:14.240 Sunday night in Pittsburgh. Sounds like Russell Wilson will be 0:10:14.280 --> 0:10:16.960 the Steelers quarterback they had been using Justin Fields. 0:10:17.080 --> 0:10:18.920 John Stasheware, Bloomberg Sport John. 0:10:18.800 --> 0:10:26.200 Naven Coast to coast on Bloomberg Radio, nationwide on Sirius XM, 0:10:26.400 --> 0:10:29.280 and around the world on Bloomberg dot Com and the 0:10:29.320 --> 0:10:32.720 Bloomberg Business app. This is Bloomberg Daybreak. 0:10:32.800 --> 0:10:33.240 Good morning. 0:10:33.240 --> 0:10:33.840 I'm Nathan Hey. 0:10:33.880 --> 0:10:36.200 You're bringing you more now from our conversation with the 0:10:36.240 --> 0:10:39.640 former President of the United States, Donald Trump, the twenty 0:10:39.760 --> 0:10:43.320 twenty four Republican presidential candidate, spoke with Bloomberg News Editor 0:10:43.320 --> 0:10:46.360 in chief John Mikelfwaite at the Economic Club of Chicago 0:10:46.520 --> 0:10:50.400 in a wide ranging discussion covering a slop of economic topics. 0:10:50.520 --> 0:10:52.040 Let's listen in If you. 0:10:52.000 --> 0:10:55.240 Add up all the promises you've made and your plans 0:10:55.280 --> 0:10:59.160 would add seven point five trillion dollars to the debt. 0:11:00.000 --> 0:11:03.440 It's more than twice the total for Vice President Harris. 0:11:04.520 --> 0:11:06.920 This is a very business like audience. YEA, why should 0:11:06.920 --> 0:11:07.720 they trust you with that? 0:11:08.200 --> 0:11:11.400 Because we're about growth. She's got no growth whatsoever, and 0:11:11.440 --> 0:11:14.360 we're all about growth. We're going to bring companies back 0:11:14.400 --> 0:11:17.320 to our country. You look at even today as I 0:11:17.360 --> 0:11:20.800 was driving over, I see these empty, old, beautiful like 0:11:20.880 --> 0:11:24.440 steel mills and factories that are empty and falling down. 0:11:25.440 --> 0:11:28.200 Some have been converted to senior citizens' homes. But that's 0:11:28.200 --> 0:11:30.120 not going to do the trick. And we're going to 0:11:30.120 --> 0:11:33.000 bring the companies back. We're going to lower taxes still 0:11:33.040 --> 0:11:36.000 further for companies that are going to make their product 0:11:36.360 --> 0:11:39.800 in the USA. We're going to protect those companies with 0:11:39.920 --> 0:11:43.280 strong tariffs. Because I'm a believer in tariffs. I'm not 0:11:43.320 --> 0:11:45.120 sure that you are. I don't think you are, but 0:11:45.480 --> 0:11:50.000 I congratulate you in your career. But to me, the 0:11:50.280 --> 0:11:54.280 most beautiful word in the dictionary is tariff and it's 0:11:54.320 --> 0:12:00.320 my favorite word. It needs a public relations firm to 0:12:00.360 --> 0:12:01.959 help it, but it's to miss the most. 0:12:01.760 --> 0:12:04.440 Beautiful word and the tariffs. Do you think that will 0:12:04.440 --> 0:12:07.440 bring in the revenues to use another bipartisan group, Yeah, 0:12:07.480 --> 0:12:09.480 Peace and Institute. They said, I only bring in two 0:12:09.559 --> 0:12:12.640 hundred billion dollars that is, yeah, only that's barely the 0:12:12.679 --> 0:12:14.120 cost of two of your promises. 0:12:14.320 --> 0:12:18.000 Yeah, but that's like for what company you're talking about. Okay, look, 0:12:18.000 --> 0:12:20.640 I've I've brought in with tariffs and I was just 0:12:20.679 --> 0:12:24.120 getting started. Then COVID came and we had a which 0:12:24.240 --> 0:12:25.800 you know, because I tell you what, I did a 0:12:25.880 --> 0:12:27.800 very good job in COVID. Nobody knew what the hell 0:12:27.800 --> 0:12:29.679 it was. I call it the China virus because I 0:12:29.800 --> 0:12:33.000 like being a little more accurate. But when that came, 0:12:33.040 --> 0:12:37.080 but we got hundreds of billions of dollars just from 0:12:37.200 --> 0:12:40.679 China alone, and I hadn't even started yet. But tariffs 0:12:40.679 --> 0:12:44.160 are two two things if you look at it. Number 0:12:44.160 --> 0:12:46.440 one is for protection of the companies that we have 0:12:47.040 --> 0:12:49.400 here and the new companies that will move in, because 0:12:49.400 --> 0:12:52.760 we're going to have thousands of companies coming into this country. 0:12:52.800 --> 0:12:55.160 We're going to grow it like it's never grown before. 0:12:55.360 --> 0:12:57.559 The markets are looking at the fact you are making 0:12:57.640 --> 0:13:01.360 all these promises. Latest one was Carlo, you're flooding the 0:13:01.400 --> 0:13:05.120 thing with giving giveaways. But I was. I was actually 0:13:05.160 --> 0:13:08.400 quite kind to you. I used seven trillion, the upper 0:13:08.520 --> 0:13:11.920 estimates fifteen trillion. People like a Wall Street Journal who's 0:13:11.960 --> 0:13:15.160 hardly a communist organization, but you don't. They have criticized 0:13:15.200 --> 0:13:17.840 you on this as well. You are running an enormous debt. 0:13:18.080 --> 0:13:19.880 What is the Wall Street Journal? Now I'm meeting with 0:13:19.920 --> 0:13:21.760 them tomorrow. What is the Wall Street Journal? That they've 0:13:21.760 --> 0:13:24.400 been wrong about everything? So have you? By the way, 0:13:24.760 --> 0:13:25.280 you've been wrong. 0:13:25.440 --> 0:13:27.560 You're trying to turn this. You're trying to turn this 0:13:27.640 --> 0:13:29.720 you've been wrong. No, you're trying to turn You're trying 0:13:29.720 --> 0:13:30.800 to turn this into debate. 0:13:31.800 --> 0:13:32.920 There are business people. 0:13:33.480 --> 0:13:36.040 You're wrong. You've been wrong. You've been wrong all your 0:13:36.040 --> 0:13:38.520 life on this stuff. You've been No, let me tell 0:13:38.520 --> 0:13:40.480 you about currency. You're going to You know, you're going 0:13:40.679 --> 0:13:44.079 jumping a lot of a lot of different subjects, sticking 0:13:44.160 --> 0:13:46.960 to the subject back their reserve currency. That's where you start. 0:13:47.840 --> 0:13:50.200 You'll go to third world status in this country. Because 0:13:50.200 --> 0:13:51.880 you take a look at the way things are running. 0:13:52.640 --> 0:13:56.440 If a country tells me, sure, we like you very much, 0:13:56.480 --> 0:13:58.840 but we're going to no longer adhere to being in 0:13:58.880 --> 0:14:03.720 the reserve currency. We're not going to salute the dollar anymore. 0:14:04.520 --> 0:14:08.160 I'll say that's okay. And you're going to pay one 0:14:08.200 --> 0:14:11.960 hundred percent teriff for everything you sell into the United States. 0:14:12.520 --> 0:14:14.360 And we love your product. I help you sell a 0:14:14.360 --> 0:14:16.200 lot of it into the United States, but you're going 0:14:16.240 --> 0:14:19.920 to pay one hundred percent tariff. He will then follow 0:14:19.960 --> 0:14:22.120 it up by saying, sir, it would be an honor 0:14:22.200 --> 0:14:23.960 to stay with the reserve currency. 0:14:24.800 --> 0:14:26.840 You say you don't want interest rates to go higher, 0:14:26.880 --> 0:14:29.800 You've gone backwards and forwards. About depends whether you want 0:14:29.840 --> 0:14:31.880 to keep whether you want to keep your own powerll 0:14:31.920 --> 0:14:34.680 as chair at the Federal Reserve. His term as chair 0:14:34.800 --> 0:14:38.160 runs on to May twenty twenty six. Would you seek 0:14:38.200 --> 0:14:40.320 to remove, remove or demote him. 0:14:40.440 --> 0:14:43.800 I think it's the greatest job in government. You show 0:14:43.880 --> 0:14:46.280 up to the office once a month and you say, 0:14:46.360 --> 0:14:50.920 let's see flip a coal, and everybody talks about you 0:14:51.040 --> 0:14:53.000 like your god, Oh what will he do? I mean, 0:14:53.080 --> 0:14:55.720 before the guy used to walk into my office, he 0:14:55.920 --> 0:14:59.040 was like the beg in host he was. 0:14:59.000 --> 0:15:02.680 Fine, did you did? You talked about removing him once? 0:15:03.040 --> 0:15:05.400 I did, because he was keeping the reads too high 0:15:05.640 --> 0:15:07.800 him and I was right, and you would do that again. 0:15:08.160 --> 0:15:10.800 I was threatening to terminate him. There was a question 0:15:10.800 --> 0:15:13.280 as to whether or not you could. And there was 0:15:13.320 --> 0:15:15.800 an article on the New York Times two half pages 0:15:16.080 --> 0:15:18.640 one page that I can do it by lawyers, one 0:15:18.640 --> 0:15:21.080 half page that I couldn't. And that was enough for him, 0:15:21.200 --> 0:15:22.600 and he dropped the hell out of the rates. He 0:15:22.680 --> 0:15:26.040 dropped them too much, he went. So he dropped them 0:15:26.040 --> 0:15:29.360 actually too much. I think that if you're a very 0:15:29.440 --> 0:15:32.800 good president with good sense, you should be able to 0:15:32.840 --> 0:15:35.040 at least talk to him. I don't say make the 0:15:35.120 --> 0:15:38.040 decision at all, but I mean I've been a very 0:15:38.080 --> 0:15:41.640 successful businessman. I've done really good, much better now people 0:15:41.680 --> 0:15:44.320 are understanding how good I've done because they're seeing it 0:15:44.600 --> 0:15:46.560 much better than the fake news wants to give me 0:15:46.600 --> 0:15:50.680 credit for what I think I have the right to say. 0:15:50.800 --> 0:15:53.360 As a very good businessman and somebody that's used a 0:15:53.360 --> 0:15:56.360 lot of sense, I think I have the right to 0:15:56.400 --> 0:15:58.840 say that. You know, I think I'm better than he 0:15:58.880 --> 0:16:02.360 would be, better than most people would be in that position. 0:16:02.760 --> 0:16:04.040 I think I have the right to say I think 0:16:04.080 --> 0:16:05.520 you should go up or down a little bit. 0:16:05.560 --> 0:16:08.800 This is Bloomberg Daybreak. 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