tv Bloomberg Markets Balance of Power Bloomberg May 28, 2019 12:00pm-1:00pm EDT
david westin. welcome to "balance of power," where the world of politics meets the world of business. on the brief today, sarah mcgregor on president trump's latest signals on china trade talks. from berlin, patrick donahue over angela merkel's shakeup of her party and from brussels, maria tadeo on the eu's meetings to pick a new leadership team. president trump went to japan but started talking about chinese trade and said we are in no big rush. is that a single of where things are headed? sarah: the interesting thing about his comments is it was easy as trump said to win a trade war but proving much more difficult than he thought. by putting the ball in china's court and saying maybe they are not so interested in a deal and we are not interested in one with them, he is expanding the time he is taking to close the deal which is going to be the hard part of the job. david: part of the hard part is huawei.
in the meantime will go to patrick donahue in berlin. when i was going on air this morning news across the wire, surprisingly angela merkel has done in her party. patrick: this is just the view from the chancellorship. in the party,ssor whenhristian democrats into a crash in the european election on sunday. the party performed terribly. when you had a new leader in -- your, on below wanted would've expected a bump in the polls. that did not happen. a lot of people are looking at her wondering whether she can do the job. a lot of people are doubting it. from what we hear inside the chancellery, angela merkel feels the same way. david: given the fact she was the hand-picked successor, does this mean a challenge to the leadership.
can we see a possible turnover and when might that happen? patrick: no time soon. angela merkel has no power to start another change in the leadership. it is the decision of the party. there is not, appetite within the party for a change in leadership. akk will probably stay put. they will have tough regional elections in the fall. do not expect to change anytime soon. angela merkel is taking a dim view of things. david: it certainly appears show -- appears so. patrick donahue reporting from berlin. let's turn to maria taddeo in brussels. maria: we are now digesting the results from the european parliamentary elections on sunday. a lot more political fragmentation, and that makes things in brussels more difficult.
on paper and principal, the winner of the election is a christian democrat closely aligned angela merkel who should lead the negotiation to become the next commission president. we understand she is losing momentum by the hour and we have emmanuel macron who said the competition should be more open and he pointed to names like michel barnier, another frenchman who has led the negotiation. it is clear european officials and leaders do not agree on the names. the commission is crucial because it will have to be counterbalanced at the european central bank. if you get a southern european at the commission the idea is you get a much more hawkish boys at the -- hawkish voice at the ecb. david: you said you have to get a commission president before you can decide on the ecb president. what kind of time are we talking about? maria: we understand emmanuel macron has made this clear.
he wants to clarify who will be the next commission president and then he can talk about other jobs like the european central bank. what is clear is today it is unlikely we will see any agreement. this will be a long negotiation. we're talking weeks. it could drag on for longer because european officials do not agree on the timeline and do not agree on the names. the concern, when i speak to officials in brussels is we could see a void of power in the european commission. many officials in place will have to be gone. frank you -- thank you very much for reporting from brussels. that is maria tadeo. let's turn back to sarah mcgregor in new york. huawei has made the china trading situation more complicated. bloomberg had an exclusive interview with the founder and ceo of huawei. >> the u.s. has not developed their technology.
rum where should i steal it? it is more likely they steal our technology. now we are leading the u.s.. if they were behind, trump would not need to make so many efforts to attack us. he attacks is because they are now more advanced than them. david: obviously a very different point of view from what the administration thinks is going on. they think huawei has been taking intellectual property. it does not see much of the parties are moving together on the situation. if anything lizzie to be moving farther apart. -- if anything they seem to be moving farther apart. situation huawei brings up extra things to worry about. tariffs have the potential to cut up markets as opposed to the potential to raise costs. on top of that is the national security concerns that the trump administration has. companies like huawei are spying on us and think they might still our technology. this is one of the crown jewels
of the chinese economy. if the trump administration is heading out on them and using security as the reason, that could take us down a more dangerous path. david: some people have speculated that at the g20, president xi and president trump might get together and put this together. from what you know about the trade negotiations, is that likely? sarah: right now what we're hearing from our sources is there are no trade talks going on. they have been on an off since may of last year. they were at an accelerated pace this year until they collapsed a couple of weeks ago. without these sides talking, the robert lighthizer's of the world , they cannot come up with a deal for trump and president xi to meet. the best case scenario is they agree to keep on talking and agree it is worth trying to fight for the trade deal. it still seems like a bar prospect given the heightened tensions. david: we will see how patient the markets can be. thank you so much for your
reporting today. now let's get a check on the markets with abigail doolittle. abigial: take a look at the dow and s&p 500, all hired but off the highs. the nasdaq had been up .8%, now it is up .5%. the s&p 500 briefly looking lower but if they hold on to the gainesville be the second update in a row. the 10 year yield down five basis points. some investors are seeking safety. this makes sense. if you take a look at the three-day chart of the s&p 500, within the context of a down may, the first down month in 2019, early rallies during off, not really holding on. will that hold true today? down .9%. pitting the uncertainty in may andrade and fears on brexit recent eu elections and other macro factors investors are worried about.
if we going to the bloomberg and look at the 10 year yield, it suggests it could be more of a flight to safety ahead. this is the 10 year yield over the last year. we have the paint 50 day moving average, the yellow is the 200 day moving average and the debt we've been tracking your that average. that technical pattern targeted at 2%. the rsi or momentum indicator falling, suggesting we will continue to see a potential rally for bonds as investors are seeking safety. prices trade in verse two yields. let's take a look at the big movers on the yield -- on the day. intel down 2%, falling on arrival check rum amd. roman sexences -- puts the -- goldman sachs puts the first sell rating on the stock. heinz -- which cigarette
a summitleaders begin today aimed at determining who will hold the eu's top jobs. a final compromise could affect economic policymaking for the next decade. turkey maybe trying to avoid a looming confrontation with the united states over the purchase of a russian built missile defense system. the turkish official has suggested that the delivery of the system may take place later than planned. the u.s. says the russian system could be used to collect intelligence on american warplanes. in iran, the influential revolutionary guard says it does not your worth united states and says america has not grown in power in recent years. the u.s. recently sent an aircraft carrier and bombers to the region over a still unexplained threat. another 900 american troops also are being deployed. president trump's son-in-law and senior adviser jared kushner is in the middle east to drum up support for his as yet unveiled
israeli-palestinian peace plan. he is in morocco and will visit jordan and israel later this week. he plans to rollout the economic portion of the plan in bahrain in june. global news 24 hours a day, on air and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i am mark crumpton. this is bloomberg. david: president trump traveled to japan over the weekend for a state visit but it is the next for the g20 that people are hoping will lead to a breakthrough in negotiations between the united states and china. we welcome tet alton, counsel foreign relations senior fellow, great to have you here, ted. let me start with what the effect of the trade dispute has been.
we will play something from senator ron johnson. >> china will be harmed much more by this trade war than america. i've been surprised how little these trade wars has affected our economy. david: does he have it right? at least so far? ted: so far that is largely correct. the macro economic impacts have been small. it has had a bit of an impact on the stock markets. tariffs.nd of the trump administration is threatening tariffs on the remainder of chinese exports to the united states. that would be a bigger impact. i'm much more worried about the long-term than the short-term. have seen this precipitous deterioration in u.s. china economic relations and are much more serious things that could happen in the long run than just additional tariffs. i'm not as sanguine as senator
johnson. david: as you talk to people about the next round of tariffs possible that could go in as early as august, what are the likelihood we could put tariffs on the remaining chinese imports? howrd: it is hard to see the administration backs away. the talks are broken down fundamentally. there is little chance of the deal of the g20 summit. we might at least get an agreement from the u.s. and chinese leaders to continue negotiations. i think a deal is not imminent. the issues at play are fundamental and the trump administration has shown in the past that if it threatens tariffs it moves forward. if the market reactions are thetive enough, it could be president will begin looking to the 20 election and say i do not want to double down. you have to bet the next round is likely to going to play. vonnie: -- david: how is the wall way situation play against
this? is it part of the trade negotiations or not? last week we heard president trump say if we can numeral trade deal huawei will get taken care of. is it part of it or not? edward: i do not think the administration has made up its mind. the huawei issue is far more fundamental than the trade issue. this is about the global balance of power. this is about the united states trying to stem the rise of china as a leading technological power. the stakes are much higher than the trade dispute. the hope in the trade dispute has been there would be some sort of middle ground that could be fined. in huawei, it does not look like there is the middle ground. the united states is busy trying to line up its allies to block purchases from huawei. the united states is restricting purchases of semiconductors to huawei. i think the stakes have been raised substantially with this
action. export controls were a tool that was set up during the cold war to constrain the soviet union. that is the background. the stakes are much higher than in the trade dispute today. david: is there a way for the united states to climb back down? how can we supply microchips to -- toay -- to wall way huawei? edward: we did something similar against the ed last year and then trump back down -- against zte last year and then trump back down. there is now this 90 day license in effect that will mean google and qualcomm will be able to huawei.wall way -- to this is a big raising of the preparing huawei is
for a long run battle with united states trying to figure out whether it can create the chips it needs and what its long-term strategy will be without being able to procure from the united states. david: you mentioned the name of the program -- balance of power. ?hich way does the balance tilt donald trump believes he is a strong u.s. economy and most economists would agree with him. on the other hand, president xi seems to think his economy is at least stabilized. it was going down in terms of its growth announcing to stabilize. who has the upper hand? edward: in terms of the comic strength, no question the united states has the upper hand. the chinese economy has slowed more significantly than the u.s. economy. the american economy is fundamentally stronger. that is only part of the equation. the other part is which side can endure economic pain more successfully. if you begin to see a slowing of the economy in the lead up to
2020, i think president trump will be worried about its implications for his reelection. i think the chinese are much better able to withstand a long grinding trade war in the united states. short-term advantage united .tates, long-term, not so clear it is much more balanced in the long run. david: how important our u.s. farmers? we shall the future price of corn skyrocket because we have bad weather coming across the midwest. farmers are hurting and thus far , they have stay with the president and kept patient. how long can they keep that up? edward: every month gets more difficult. the weather will be a big challenge this year. the president was just in japan saying he will do this great trade deal with the japanese. if you look at what he has done by pulling the united states out of the trans-pacific partnership , american farmers are now facing higher partnerships in andn than their australian
new zealand competitors for products like beef and pork and rice and other commodities. so far, you add in japan, you had in the tariffs and the retaliation in steel and aluminum which has been lifted. this administration's trade policy is hurting armors and anders -- hurting farmers farmers are an important constituency electoral really for this administration. if trump cannot show the good trade deal he has been promising, i think the farmers will break ranks. i do not think they will stay with them unless he can demonstrate positive forward movement. david: how quickly can economic system adapt to these tariffs and other barriers? how quickly can we shipped the vietnam war mexico. as chinese -- vietnam or mexico? maybe there is a cause and relation -- cause and effect relationship? edward: the surgeon vietnamese
exports is directly related to reduction being shifted to vietnam. it varies sector by sector. if you were talking about something like textiles and clothing, it is flexible. shoe production, similarly. if you're talking about higher technology goods, foxconn factories producing apple smartphones, that is a much more difficult product to shift to other locations. i think it will vary, but i think what you'll see is some of the less mobile sectors, and tech is one of these, seeing hurt more as the trade war escalates. thank you sovid: much for being with us today. , senior fellowen at the council on foreign relations. bloomberg has learned renault will hold a board meeting to
so $85 million seems like a break. this is higher than what they estimated. you are facing 1900 municipalities in 42 states that all have these litigation claims. even though you have settled with oklahoma, used up municipalities within oklahoma. ohio coming up next. soybeans big headline case is at the bottom of the screen. $4.5 billion. that is about one quarter of their topline revenue and half the year's profit. we not talking an insignificant amount. is a good-sized pharmaceutical company. johnson & johnson is out there by themselves. how exposed are they? taylor: purdue settled, tape a settled, theva johnson & johnson trial starts
today. i do not believe it is a jury trial. our analyst say they can win on appeals. you cannot guess what the estimate is. johnson & johnson is higher today, even though they are more exposed. mylan is lower as well because there are concerns with them, as well as concerns the u.s. might bring a generic price-fixing case against them. david: you never know what is going on with rogue jury. many thanks to taylor riggs. arkansas has made a push to ensure it provides a climate conducive to the creation of business. we have the governor here to talk about how it is going. ♪ the latest innovation from xfinity
trying to pass a disaster aid bill. theblican ship royal block attempt last week to pass the measure under fast-track rules. he complained about the cost. the outgoing british prime minister theresa may says the best option for britain remains to leave the european union with a negotiated deal. she spoke in brussels ahead of the eu council meeting. >> it is a matter of great regret to me that i have not been able to deliver brexit. of course, that matter is now for my successor, and they will have to weigh -- to find a way to express the strongly held views on both sides of the issue, to do that come and get a majority in parliament, as i said, i think will require compromise. mark: her remarks indicate a
government has abandoned the idea of lawmakers backing her withdrawal deal, heightening the uncertainty surrounding brexit. a crowded field of candidates is building up for the tory leadership contest. some come including the favorite, horse johnson, say they would be prepared to leave the block without a deal. israeli prime minister benjamin netanyahu is promising to form a new government by tomorrow's deadline. parliament has given approval to a bill to dissolve itself and hold new elections. that is seen as a way to pressure two potential partners to put aside of differences over a military draft law. netanyahu needs their support to form a majority government. ans a dubious record for austrian man. he is the first chancellor to be thrown out of office since the country was rebuilt since world war ii. his estranged coalition partners joined the opposition in a vote to dismiss him. he has begun a campaign to get back into power.
global news 24 hours a day, on-air, and @tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. david: thank you, mark. president trump is aboard air force one right now returning from his trip to japan. he is due to land in washington in less than two hours. for a review on this trip, we welcome marty schenker. a lot of photo ops. marty: a lot, including the highlight, the sumo wrestling match, which you have pictures of. i notice the photographers took that one particular angle of the sumo wrestlers. marty: this trip, we thought as it was being planned was more show than substance, and i think that has proven to be the case. david: they appear to have a close, genuine relationship, the president and shinzo abe. i'm not a golfer, so i
don't know how close those relationships are. they do seem to like each other. at least they can read each other in a way that is construct to in the relationship. but they have not reached a trade deal. jumbotron says he will not do anything after the -- until after the japanese elections in july. it turned out to be a show. david: president trump said they made good progress on the deal but the japanese side, not shinzo abe, said we did not make any progress at all. marty: i do think people tend to parse the president's words very precisely. i think a lot of what he says is off-the-cuff and not really considered, not really the direct consequence of a lot of internal concert -- consultation. we and others write about these things but i really question, until something happens, how important it is. david: i wonder if this is part
of a larger strategy with the president. he has backed off of european tariffs. not putting japan off to the side, too, to focus on china. he could not avoid talking about it while in japan. marty: he said we are not ready to make a deal with china, which is kind of an opting to say, since we been working at it since essentially the beginning of his administration. when are you going to be ready, what are the things that are going to get you ready? i still think the key things to watch our lighthizer and mnuchin. isn either of those scheduling a trip to china, that will be a signal they had decided to actually move forward. asking the tough question, do we think the president wants a deal? when he was in japan, he was saying how much you liked tariffs. i wonder if some advisors around him are saying, this is fine to have high tariffs on china for a long time. marty: i think that is a quite
strong possibility, that he is enjoying this place, the economy looks great, consumer confidence is up, markets are up. there is some question about whether this next round of tariffs will have a huge impact on the u.s. economy. if the economy goes south and the markets go south, i think you'll see renewed interest on getting a deal done. david: particularly as we get closer to 2020. marty schenker, thanks so much for being here. from new york, this is bloomberg. ♪
companies to announce expansions of their operations in arkansas. bolton by the governor's program to create a climate in the state that is friendly to business. we welcome governor hutchinson for today's conversation. i want to talk about the economy and business in arkansas. first, you have a big disaster going on with the floods. where do things stand? gov. hutchinson: it's a great concern. in fact, i'm cutting my trip short so i can return back this evening. we have volunteers, communities that are sandbagging, trying to shore up the levee system and karen the flooding even to a greater -- prevent the flooding even to a greater extent in our communities. people are moving their belongings out, trying to get to higher ground. untilnot supposed to peak later this week, so we are watching moment by moment as it rises, trying to prevent some devastating losses that we are very worried about. david: is it too early to get a
general sense of the losses we are talking about? gov. hutchinson: it is. we don't know the extent of the flooding. we know now in western arkansas, it will be at record levels. proceeding down the arkansas river, eventually getting to the east part of the state. it is really unknown as it gets to the mississippi river the extent of the flooding there. it will still be massive. some of it will be farmland. some of it will be houses, some will be businesses that are lost. we have had plenty of time to prepare for it. but that does not make it any easier in terms of the loss that you may suffer. david: part of the job of a governed like you, sadly, is dealing with natural disasters. what kind of assistant do you need from the federal government? congress is still trying to get there at together trying to get money to some of those folks. gov. hutchinson: some of the important part of it is the
mitigation against future disasters. that is what we would like to have helped from ugly. -- quickly. we have a levee system, but it's not prepared for this 500-year flood level. are we going to have to build up more? and is mitigation funding that is something the federal government has traditionally helped with. mitigation funding will be a part of any disaster relief that comes. we don't want this to happen again. david: let's turn to another subject, trade. as you know, there is something of a contest going on right now between the u.s. and china. give us a sense of what has been done and what you are doing in arkansas for your businesses, for your economy, jobs? gov. hutchinson: in terms of our economy, we have reached record unemployment rates, more people working than ever before. we have incredible number of businesses expanding, investing. that is both foreign companies we have recruited to arkansas,
but also national businesses that are coming. very dynamic economy in the state. and then we do have the worry about the trade negotiations that are ongoing. one of the things that is a potential success story is the the new nafta agreement. we are anxious for that to be ratified by congress so that we can be assured of global trade .ithin north america that is very important to arkansas because we have manufacturers, however two leading trading partners, mexico and canada. o leading trading partners, mexico and canada. that will result in zero tariffs . what we are at now is china. i hope we can have the same success story, and i hope it
comes quickly. david: first, we have to get usmca ratified. are you confident we will get that done? gov. hutchinson: it always makes you nervous in the political context of washington, but i hope canada ratifies it. if they ratify it, that gives additional momentum for our senate to act. i think it would be difficult to turn that down to the u.s. congress. very hopeful that that will be ratified this year. andow the administration senate has come together in beingof the tariffs dropped. we are anxious for that to happen, i'm optimistic it will. david: some industries particularly hard hit trade disputes, one of them being retail. a lot of retailers seeing the effects of tariffs. you have walmart, which is something of a substantial retailer, fair to say come in your home state of arkansas. do you know the effect on these
companies that are retailers? , thehutchinson: any tariff consumer will pay the freight. the consumer cost goes up anytime tariffs are imposed. consumer goods costs will naturally rise whenever you have tariffs imposed. walmart is worried about it. they want to stay a low-cost provider. they don't want to see those cost go up for the consumers. but they have built their whole business model on global trade, the ability to have those kinds of goods, wherever they may come from. that, thef beyond steel industry, for example, we have a lot of further processing of steel that is dependent upon unique sources of steel from overseas. they are being hurt right now. that is not something that you
can always pass on to the consumer. you are seeing them delay expansions, investment because of the uncertainty, because of the tariffs that are in place. the key thing is, when it comes to our tariff battles -- i applaud the president of trying to get better deals for the united states. the end result needs to be low tariffs or zero tariffs. that will be our goal, so we can ensure we are being treated fairly. david: are you confident that is the president's goal? we have heard at times, zero tariffs, but we have just heard in japan, i like tariffs. are we confident on what the president's ultimate position is? gov. hutchinson: not 100% confident. you look back in history, he has always been a supporter of tariffs. it makes you wonder if that is an end result that he would be happy with. but i'm delighted -- because
largely congress said no. if we are going to support the usmca, it needs to result in zero tariffs. there is a good success story there. i hope we can have the same success with the administration in terms of china. it will take longer to get there because it is more complex trading agreements. china insists on some tariffs for their own purposes, so it's more difficult. but we should all have that goal of global trade, good enforcement mechanisms. china has got a lot to lose here, more than the united states. i hope they come to the table and get to an agreement that is acceptable to the united states. david: you are the governor of a state. when you look at the needs of arkansas for business, employment, for a growing economy, how much is determined out of washington, how much in little rock? gov. hutchinson: we cannot be successful without a good
national climate. and relief bill that was signed by the president in oon to the great b national economy, arkansas companies were expanding, investing in wage increases. the reduction of regulatory burden from washington is giving the state more flexibility, a great benefit to states like arkansas. but the rest is up to us. we compete with other states. right now, we have lower unemployment rate than the national average. income is going up better than the national average. some trends,g improving ourselves, even beyond what is happening in the national economy. what we do is build relationships internationally. i'm going to japan, china later this year, europe to market our era defense industry, to make
defense industry, to make sure that arkansas is a good place to do business. david: health care is a concern to many americans. you had a plan to require work for people on medicaid that the court stopped in what is the right solution to that? are you going to revise that plan to comply with what the courts wanted? is it a matter of appealing it to see if it can be reversed? what is the goal? gov. hutchinson: to have that work requirement in place for those who are able-bodied but receiving public benefit. in this case, healthcare services. if they are able-bodied, that work requirement is appropriate. the goal is not to be punitive but to give them the training they need. they might need more training for a better job, to be able to match them with the right employment opportunity. it is actually resulted in thousands and thousands of
arkansans being able to get better training and be employed, move up that economic ladder. that is the goal. how you get there -- since we had a judge ruled against us, it is on appeal to the d.c. circuit. i hope that we can win there. if not, we could go to the supreme court. david: could congress fix it? gov. hutchinson: congress could clarify it but it is hard in a political season to get congress to act. our first option is to win that in the courts. it is really a difference of philosophy. the obama administration tried to make the case there should not be any requirements to receive a health care benefit. i believe there can be some responsibility that goes along with it. david: great to have you here, arkansas governor asa hutchinson. he was called senator john mccain's alter ego. john salter will join us to talk about his legacy in the era of trump.
david: this is balance of power on bloomberg television. i'm david westin. mark salter served on john mccain cap for 18 years, collaborating on seven books, including the final one "the restless wave." welcome mr. salter to bloomberg, coming to us from washington. >> thank you for having me on. david: let me start with the ultimate question. we have lost senator mccain. what lingers on? we watch that amazing service for him in washington that he clearly designed to send a message to us. are we getting the message? mark: is washington getting the message? in some quarters, i think they are. i think the american people will
respond to his call for unity, his insistence that more united us than divided us, that we had common responsibilities and common problems, common ideals. that resonates with the american people. whether it always finds a receptive audience in washington , in some quarters, yes, but not all the time. with: if it is resonating the american people, what keeps it from translating into washington? we elect the people in washington. where is the disconnect? mark: sometimes ambition gets in the way. there is a tendency to think, over the course of a long career, you can do some good, but in the meantime, you may have to do things that you are not terribly proud of. i think that has long been a problem in politics, this country, and any other country. human nature, i suppose. david: as you look around washington, do you see any
potential inheritors of the john mccain legacy, mavericks, as we call them? mark: i don't think i want to get into naming anyone in particular. i would probably offend people i left out. when i see people stand up and do things that are difficult for them to do, when they know it is the right thing. if you are a republican, it is to criticize trump when he has done something offensive or wrong. there has not been enough of that, frankly. it is not the only thing that should prove your patriotism. a lot of republicans get away with a lot of outrageous behavior. they are tired of it, i'm sure, they don't want to talk about it all the time. it takes them off message of what they're trying to get done, i get that. but sometimes -- for instance, his attack on former president -- vice president joe biden, seconding the criticism from kim jong-un.
that was offensive to do so, and more republicans should have done so. biden.you mention joe i know they were good friends. i'm not saying that he would have endorsed joe biden by any means, but it senator mccain was alive today, what advice would you give joe biden as he runs for president? that heobably advice does not need, but to enjoy it, make the most of it. say what you really mean, be candid, not overly scripted. a sort of style that he brought to his campaigns. david: we had an incident recently with senator klobuchar invoking john mccain's name. meghan mccain took them to task for it. i wonder, would john mccain welcome his name being invoked during this presidential election? that was one form of legacy that people still try to embrace what he stood for. joked every time
president trump criticizes him, somewhere john is laughing to be the subject of attention here in washington. i know he and senator klobuchar were good friends. i don't speak for the mccain family, obviously. i did not witness the conversation senator klobuchar and senator mccain had, but i'm sure it's fine. david: as we look to 2020, what is the one thing you like the candidates to take to heart from john mccain? one part of his legacy, ideally, that you could take to heart. whether republican or democrat. to understand how much this country means to the world. its leadership means to the world. haveast few years adversely impacted america's standing in the world. if they are privileged enough to be the party nominee, privileged
enough to be elected president, they need to do a lot of repair work, reassert american leadership in a time of great difficulty. david: mark salter, thank you for joining us. we appreciate your time. mccain.ime aide to john sign up for the balance of power newsletter at bloomberg gpolitics.com. bloomberg users can interact with the charts shown using g tv . catch up on key announcements and save charts for future reference. live from new york, this is bloomberg. ♪
ahead of the eu executive arm. it has pain and ireland in its corner. leaders have gathered in brussels to do discuss who should lead the plot. planned parenthood says missouri's only abortion clinic could be close by the end of the week because the state is threatening not to a new its license. if it is not renewed, the organization said missouri would become the first state without a functioning abortion clinic since 1973. missouri is among half a dozen states that have passed sweeping antiabortion measures. a rapid fire line of apparent tornadoes tore across indiana and ohio overnight. the storms damaged homes, blew out windows, toppled trees, and left debris so thick, at one point, highway crews had to use snowplows to clear the interstate. there have been no reports of fatalities. says early reports show more than 50