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Watch Trump Prosecutors Say They Could Rest Case Next Week - Bloomberg

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00:00THIS HAS BEEN A DAILY EVENT. IS THIS WORKING FOR DONALD TRUMP? WE HEARD SOME PRETTY TOUGH STUFF FROM STORMY DANIELS ON THE STAND THIS WEEK. HE ' S TRYING TO USE THE BRIEF TIME HE HAS IN THE LOBBY WITH REPORTERS. WHERE ARE WE IN HIS CAMPAIGN? LAURA: THIS HAS NOT BEEN A GREAT WEEK FOR HIM, PEOPLE HAVE BEEN TUNING IN, ALL THE SALACIOUS DETAILS HAVE HOMED THE MEDIA COVERAGE ON THIS AND I EXPECT MORE OF THAT NEXT WEEK AS MICHAEL COHEN TAKES THE STAND. BUT THIS HAS NOT STOPPED HIM FROM CAMPAIGNING. HE WILL BE IN NEW JERSEY THIS WEEKEND WITH THE BIG VALLEY AND HEALY -- HE HAS A BUNCH OF FUNDRAISING EVENTS. KAILEY: HE IS ABLE TO RAISE MONEY OFF HIS VARIOUS LEGAL TROUBLES AND PERHAPS TALKING ABOUT THE GAG ORDER OUTSIDE THE COURTHOUSE FOCUSES THAT MESSAGING AND REITERATED IT. THERE IS SOME SECTION OF THE REPUBLICAN VOTER BASE THAT DOESN ' T LIKE WHAT THEY ARE SEEING IT AND THEY SEE IT SHOW UP IN PROTEST VOTES. NIKKI HALEY GOT 22% OF THE VOTE IN THE INDIANA REPUBLICAN PRIMARY. SHE WILL MEET WITH SOME DONORS FROM HER CAMPAIGN THAT HAS ENDED NEXT WEEK. NOT ENDORSING TRUMP. HOW IS NIKKI HALEY STILL A FACTOR? LAURA: THIS IS BEEN INTERESTING. SHE ' S WITHHELD HER ENDORSEMENT AND IS HAVING A CONFAB NEXT WEEK WITH DONORS TO BASICALLY KEEP THEM TOGETHER. WE ' VE TALKED A LOT ABOUT JOE BIDEN ' S PROBLEMS WITH YOUNG VOTERS, GAZA AND ALL OF THIS. THIS IS STILL A CLEAR SIGN THAT TRUMP HAS A MEMBER -- PROBLEM WITH MEMBERS OF HIS OWN PARTY, MOTIVATED TO VOTE BUT DON ' T WANT TO CAST A BALLOT FOR HIM. THIS COULD BE A KEY INDICATOR LOOKING TO NOVEMBER THAT TURNOUT COULD BE LOW. A LOT OF THE PROJECTIONS WE ' VE SEEN BASED ON 2016 AND 2020, THAT COULD JUMBLE DATA AND CREATE SURPRISES ON ELECTION NIGHT. JOE: KAILEY IS RIGHT TO POINT OUT, NEARLY 20% OF INDIANA HAS NOT SPOKEN. ? DOES OR HAVE TO BE A DEAL IN TERMS OF DELEGATES OR POTENTIAL ENDORSEMENT? LAURA: I WOULD NOT RULE OUT NIKKI HALEY IN THE POTENTIAL PICK IN A TRUMP ADMINISTRATION. SHE WAS THERE BEFORE. IF TRUMP AND HIS CAMPAIGN AIDES SEE THE PROBLEM BUT THEY COULD TRY TO BRING HER INTO THE FOLD. KAILEY: WE KNOW DONALD TRUMP WILL BE IN NEW JERSEY TRYING TO RAISE MONEY. JOE BIDEN AS WE SPEAK IS IN CALIFORNIA TRYING TO DO THE SAME. IN TERMS OF COMPETITION ON THE FUNDRAISING, HOW FAR AHEAD IS A ITEM STILL EVEN WITH THE MILLIONS OF DOLLARS TRUMP HAS BEEN ABLE TO RAISE ON HIS LEGAL TROUBLES? LAURA: BIDEN HAS ABOUT A $100 MILLION LEAD. WE WILL LEARN IN A COUPLE OF WEEKS HOW MUCH HE RAISE THE PAST MONTH, TRUMP ALREADY PUT OUT HIS NUMBERS, ABOUT $73 MILLION. TRUMP HAS BEEN DOING ABOUT $95 MILLION -- BIDEN HAS BEEN DOING ABOUT $95 MILLION. THE BITING CAMPAIGN IS ALSO SPENDING A LOT MORE -- BIDEN CAMPAIGN IS ALSO SPENDING A LOT MORE SO THERE COULD BE REJIGGERING OF THE NUMBERS. JOE: $50 MILLION AD BY HIS REPORT FOR THE MONTH OF MAY. LAURA: BUT REMEMBER TRUMP HAS LEGAL FEES. KAILEY: LAURA DAVISON, THANK YOU. AS PRESIDENT BIDEN IS CAMPAIGNING OR RAISING MONEY IN CALIFORNIA, THE BIDEN ADMINISTRATION NEXT WEEK EXPECTED TO REVEAL NEW TARIFFS ON CHINA ON ELECTIVE VEHICLES, AREAS AND SOLAR CELLS -- ELECTRIC VEHICLES, BATTERIES AND SOLAR CELLS. NOW LOOKING AT EXPANDING THE TARIFFS UNDER THE TRUMP ADMINISTRATION BUT PERHAPS A MORE NARROW WAY THAN DONALD TRUMP SAYS HE WOULD YOU, 60% TARIFFS ON EVERYTHING. > > THE RIVAL FOR PRESIDENT BIDEN IN NOVEMBER IS ENVISIONING A MUCH BIGGER ROUND OF TARIFFS THAN EVEN WHAT HE PUT INTO PLACE IN 2018. WHAT WE ARE TALKING ABOUT IS A REVIEW THE CURRENT ADMINISTRATION HAS DONE OF TRUMP TARIFFS TO SEE WHAT THEY WOULD KEEP AND WHAT THEY MIGHT INCREASE AND LET GO OF. THEY ARE LARGELY LEAVING THE EXISTING REGIME AND TACT EXCEPT THEY ARE RAISING TARIFFS IN A HANDFUL OF KEY AREAS YOU MENTIONED. ONE OF THE BIGGEST IS ELECTRIC VEHICLES AND THAT IS SOMETHING THE ADMINISTRATION IS TRYING TO SET UP A BARRIER AGAINST. CHINESE MADE ELECTRIC VEHICLES HAVE MADE INROADS ELSEWHERE IN THE WORLD, ESPECIALLY IN EUROPE, AND THE CONCERN IS WHILE THEY COULD BREAK ROUND -- CONCERN IS THEY COULD BREAK GROUND HERE. THEY ' RE ALREADY 25% TARIFFS ON IMPORTS OF CHINESE ELECTRIC CARS AND THEY WOULD ESCALATE TO AS MUCH AS 100% ACCORDING TO THE WALL STREET JOURNAL. WE WOULD LOOK FOR AN ANNOUNCEMENT OF SOMETHING LIKE THAT AS SOON AS NEXT WEEK. THIS WOULD TAKE SOME TIME TO IMPLEMENT. THE ADMINISTRATION IS TRYING TO DRAW A LINE IN THIS KEY AREA AND MAKE UP GROUND LOSS IN OTHER AREAS, INCLUDING SOLAR CELLS, ANOTHER AREA OF THE CONCERN. THE U.S. HAD ONCE BEEN A BIG LEADER IN THAT AREA BUT LOST THE LEAD TO CHINESE MAKERS ABLE TO PRODUCE THEM LESS EXPENSIVELY AND DO IT EN MASSE. JOE: WHAT DOES THIS MEAN FOR OUR RELATIONSHIP? WE HAD JANET YELLEN AND ANTONY BLINKEN IN CHINA TALKING ABOUT OUR ECONOMIC COOPERATION, RELATIONSHIP MOVING FORWARD. I ' M GUESSING THIS WON ' T LAND WELL IN BEIJING. MIKE: IT DIDN ' T, AND IN REACTION TO THE SCOOP OUR TEAM PRODUCED LAST NIGHT, THE CHINESE GOVERNMENT REACTED SAYING THIS ONLY ADDS INSULT TO INJURY. WE WILL SEE HOW THEY RETALIATE. SENATOR GRASSLEY, WHO WE SPOKE TO, INDICATED SOME OF THE AREAS THAT COULD BE TARGETED IN RETALIATION MIGHT NOT BE WHAT YOU THINK. MAYBE IT WON ' T BE TESLA OR ELECTRIC CARS. THEY COULD GO AFTER U.S. FARM PRODUCTS AND THAT IS A SENSITIVE AREA POLITICALLY FOR THE U.S. AT THE SAME TIME, CHINA RECOGNIZES LOOK, THIS ISN ' T A BIG ECONOMIC HIT FOR US OR THE AMERICAN PUBLIC. THERE ' S A FAIR AMOUNT OF SYMBOLISM INVOLVED. WE SAW PRESIDENT BIDEN AND PRESIDENT XI, THEY SPOKE ON THE PHONE LAST MONTH, AND SECRETARY YELLIN VISITED, AND SECRETARY LINCOLN. THE TWO SIDES ARE TRYING TO MAINTAIN A SIMPLE AND ' S OF A CONVERSATION EVEN WITH SOME OF THESE MOVES. KAILEY: IN SOME SENSE YOU ' RE SEEING CONTRADICTORY POLICY MY PERHAPS ON ONE HAND YOU WANT TO MAKE SURE THE U.S. IS COMPETITIVE TO CHINA BUT THEY ALSO WANT TO COOPERATE IN CERTAIN AREAS. SOMETHING ELSE THAT IS CONTRADICTORY IS WHERE THEY ARE LOOKING TO INCREASE THESE TARIFFS. PRESIDENT BIDEN WANTS MORE OF ALL OF THAT IN THE U.S., IS PART OF HIS CLIMATE AGENDA. HE COULD BE SETTING BACK THE EFFORT BY NOT ALLOWING THE CHINESE MAKERS TO HAVE A PRESENCE IN THE U.S. MARKET TO THE SAME DEGREE. MIKE: IT ' S A GOOD POINT EXCEPT HE WANTS IT HOMEGROWN. THIS PRESIDENT HAS REALLY TRIED SO HARD TO PUSH A DOMESTIC MANUFACTURING AGENDA. WE ALSO SEE IT WITH HIS INFRASTRUCTURE PLAN AND ALSO THE CHIPS ACT. INVESTING TENS OF BILLIONS OF DOLLARS TO START THESE MASSIVE CHIPMAKING FACILITIES IN STATES LIKE ARIZONA AND OHIO. THEY REALLY WANT THAT INFO STRUCTURE AND CAPACITY TO LAST. TECH IS ANOTHER AREA OF TENSION WITH CHINA AND COOPERATION. SECRETARY REMINDER SAID WE WANT TO SEE COOPERATION AND COMPETITION WITH CHINA BUT WE HAVE TO DRAW A LINE. WE DON ' T WANT CHINA TO HAVE ACCESS TO OUR MOST ADVANCED TECHNOLOGY, HENCE THE EXPORT CONTROLS WE ' VE SEEN IMPOSE WHEN IT COMES TO SEMICONDUCTORS AND SEMICONDUCTOR MAKING EQUIPMENT THE ADMINISTRATION HAS BEEN PUSHING NOT ONLY MYSTICALLY BUT WITH ALLIES. JOE: I WANT TO COME BACK TO THE CAMPAIGN TRAIL AND BRING BACK LAURA, BECAUSE THIS IS AN AIDS -- RESONATES, JOE BIDEN RUNNING ON THE COMPLIMENTS BUT SO MANY OF THESE INITIATIVES MICHAEL TALKED ABOUT OUR GENERATIONAL INVESTMENTS. WE WON ' T SEE NEW CHIP FABS BETWEEN NOW AND NOVEMBER AND IT HAS BECOME A REAL CHALLENGE TO CONNECT THE DOTS, HASN ' T IT? LAURA: A REAL PAIN IN THE SIDE OF THE WHITE HOUSE. THEY ' VE BEEN TRYING TO TALK TO PEOPLE ABOUT THE ECONOMY IS LOOKING BETTER BUT PEOPLE DON ' T FEEL THE ECONOMY IS BETTER. IT ' S HARD TO SAY THERE WILL BE A GREAT JOB FOR YOU OR YOUR KID IN FIVE YEARS, WHAT ABOUT NOW? INFLATION IS STILL TOP OF MIND. THIS IS WHAT JOE BIDEN ' S LEGACY WILL COME DOWN TO. DO THESE INVESTMENTS CAN OUT? OR IF TRUMP IS ELECTED HE COULD REVERSE A LOT OF WHAT HAS BEEN PUT IN MOTION BY THIS ADMINISTRATION AND MAR SOME OF THE VISION HE HAD. KAILEY: ON THE SUBJECT OF THE ECONOMY AND INFLATION, IT ' S WORTH POINTING OUT HOW CAREFULLY CALIBRATED YOU NEED TO HAVE TRADE POLICY BECAUSE IF YOU PUT TARIFFS TOO HIGH AND RAISE THE COST OF GOODS TOO MUCH, IT IS INFLATIONARY AND COULD REINFORCE THOSE PROBLEMS YOU ALREADY HAVE. MIKE: I ' M GLAD YOU BROUGHT THIS UP BECAUSE THIS REVIEW HAS BEEN UNDERWAY ALMOST TWO YEARS AND THERE WERE A LOT OF STICKING POINTS IN THE NEGOTIATIONS AMONG ADMINISTRATION OFFICIALS AND ONE OF THEIR CONCERNS WAS IF WE RAISE TARIFFS, IT WILL BE INFLATIONARY. HOW ABOUT CONSIDERING LOWERING TARIFFS ON SOME HOUSEHOLD GOODS? THAT MIGHT EASE THE PAIN AT HOME FOR PEOPLE. THIS IS SOMETHING THAT HAD TO CALIBRATE AND THINK ABOUT CAREFULLY THROUGH THE COURSE OF THIS REVIEW, ESPECIALLY WITH THE IMPACT OF ALL OF THESE MOVES ON THE CONSUMER. IT ' S NOT CHINA PAYING THE TARIFFS, IT ' S THE CONSUMER PAYING THE PRICE ULTIMATELY OR THE SMALL BUSINESS OR EVEN LARGE BUSINESS PAYING THE LEVEES. JOE: IT ' S ALMOST DAMNED IF YOU DO OR DON ' T FOR JOE BIDEN. YOU PROTECT THE DOMESTIC EV ENERGY BUT YOU COULD BE STOKING INFLATION AND THAT ' S WHY HE CAN ' T GET OUT OF THE GATES ON THESE OTHER ISSUES. KAILEY: YOU SEE A LOT OF MESSAGING -- LAURA: YOU SEE A LOT OF MESSAGING ON CHINA WITHOUT SEVERE ACTION. THE CAMPAIGN IS TRYING TO DRAW A CONTRAST, IF TRUMP COMES IN WILL BE ACROSS-THE-BOARD TARIFFS, A VERY BLUNT INSTRUMENT. THE WHITE HOUSE IS SAYING THEY ARE TRYING TO BE MORE NUANCED IN THEIR APPROACH.

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Trump Prosecutors Say They Could Rest Case Next Week

Bloomberg's Laura Davison discusses the latest on the Trump hush money trial and states that while this has not been a good week for the former President, donors have not been put off by the details of the case. Bloomberg's Michael Shepard talks about the Biden Administration expecting to raise new tariffs against China on electric vehicles, batteries, and solar panels. Both Laura and Michael speak with Kailey Leinz and Joe Mathieu on Bloomberg's "Balance of Power." (Source: Bloomberg)

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