“Balance of Power” focuses on the intersection of politics and global business. On today’s show, Senator Tina Smith (D-MN) says she’s “very open” to the idea of a diesel export ban gaining traction in Washington, while cautioning it would be a short-term fix to a longer-term problem as the war with Iran keeps energy costs elevated. American Petroleum Institute President and CEO Mike Sommers warns that restricting US diesel exports could force refiners to cut production, potentially lowering diesel prices temporarily while driving up the cost of gasoline and jet fuel. Senator Elissa Slotkin (D-MI), who has introduced bipartisan legislation aimed at keeping Chinese connected vehicles out of the US market, warns President Trump against reaching an agreement with Chinese President Xi Jinping that would give Chinese automakers greater access to the country.
Chapters:
00:01:37 Bloomberg’s Stephen Engle on Xi Jinping Arrives for Washington Summit
00:05:02 Bloomberg’s Tony Capaccio on China Holds Sensitive F-35 Fighter Jet Parts
00:07:19 Sen. Tina Smith (D-MN) on China, Diesel Prices and Farmers
00:13:24 Sen. Tina Smith (D-MN) on Concerns Over Nvidia, AI and China
00:15:00 Sen. Tina Smith (D-MN) on Treasury Yields Surge to Multi-Decade Highs
00:16:33 Power Moves: Top Financial Moves
00:19:58 Bloomberg’s Nia-Malika Henderson on Midterm Battle for Control of the Senate
00:24:43 American Petroleum Institute CEO Mike Sommers on Diesel Prices and Export Ban
00:29:23 Mike Sommers on Infrastructure Constraints and Energy Prices
00:32:27 Mike Sommers on Prospects for Permitting Reform
00:35:08 Bloomberg’s Nick Wadhams on US-Iran Talks Show Little Sign of Breakthrough
00:38:40 Sen. Elissa Slotkin (D-MI) on China and F-35 Security Concerns
00:41:03 Sen. Elissa Slotkin (D-MI) Warns About Chinese Cars and Surveillance
00:44:13 Sen. Elissa Slotkin (D-MI) on Nvidia Chips and US-China AI Competition
00:46:08 Sen. Elissa Slotkin (D-MI) on AI Risks and Regulation
——–
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China has sensitive parts diverted to Hong Kong? Really? China "diverted" the F35 parts?
This Senator knows nothing about the chips and AI landscape. China banned Nvidia chips a few years ago. Nvidia chips market share in China dropped from 95% to less than 10% within 2-3 years.
It sounds like our stupidity to have F-35 parts delivered to Hong Kong. They might not have the obligation to return any back to the U.S. we even seized and kept the oil tankers owned by Venezuela from international waters. It seems Chinese are more civil to keep the gift.
The United States is such a strange world. Whenever the government makes a mistake, as long as the blame is placed on China, no one has to bear any consequences. Those foolish people don't even consider that such a bizarre event suddenly occurred just days before Xi Jinping's visit to the United States. China didn't even need to do this, because China is constantly avoiding friction with the United States to prevent threatening the stable situation between the two sides.
This is starting to make sense after a commenter pointed out that Australia handed those F-35 components to Lockheed Martin, which then decided to ship them as ordinary cargo.
Lockheed Martin knew these F-35 components were ordinary stuff that no one would care about. So, LM shipped them using the cheapest indirect commercial flight/ship. Commercial packages get lost from time to time.
If the USA and Australia bother to comb scrapyards & rubbish dumps along the routes, they probably would find these missing F-35 components. 🤭
FUN FACT : Li-Ning makes better basketball 🏀 shoes 👟 than Nike !! I am sure the Chinese 🇨🇳 are analysing how inexpensive CAPITALISM has become with low employee salaries, benefits, materials quality, DESTRUCTIVE with Chinese🇨🇳missiles (aimed) at the centre-fuse-door…………………
Banning of msm like CNN by Trump is really fair and justified. In this reporting CNN is obviously lying and smearing China beyond facts. CNN is deliberately making the false accusation not based on facts or proof. F*** CNN.
“Chinese cars and thus surveillance” lmao
Puppet
China has sensitive parts directed to hong kong. You kidding me, how much more evil can bloomberg be? Your people screwed up, routed the parts to Hong Kong, you sound like they are the ones that caused the parts to be there… and now imagine this, a very special cargo accidentally gone missing in an adversary country and nobody notice that until one very special journalist of all places from New York Times found out!!! R u kidding me, really? Stop your false flag, those who believe in this must be very very stupid to the core
when importance of money is next to nothing else, should question if its only f35 parts that was 'sold'
Should check how much rare earths had been diverted into the arm parts. Jai Hind.
To be honest, your congress and senate are full of circus clowns, desperate housewives, ignorant smart ass.
With trump approval- kowtow to xi
They will send them back in crates.
This is a ruse to lure China to copy Gen 5 tech for use in the development of Gen 6 fighters.
04:47👈The military and logistics incompetence on the Australian and American sides is really on full display here.
China didn’t do anything. The problem was with your own handling of sensitive shipments. Are sensitive weapons really supposed to be shipped through regular commercial delivery services?
uh be careful with those remarks about President Trump going to the airport , may end up like CNN lol
Bloomberg should fire Stephen Engle who is in fact a gambler instead of a reporter. He made too much personal speculation about big leaders. This stupid Stephen is a clown and pig head.
I wake up with BTW
You can just sense that Trump is getting ready to give away the store. At his age, he's really got nothing to lose. He can be buddy buddy with Xi, and get that short term euphoria from making a deal while he throws away protections that have been keeping China at bay.
Trump doesn’t care! He’ll destroy it and leave it to the democrats
I’m for farmers… wow,I’m impressed! 🤡🤡🤡🤡
It won’t work Senator! Prices go up
China drives away leaving trump on the tarmac
Any reasons our senators don't understand using Nvidia chips is a huge security loophole on China's national security? That's probably why China hasn't been buying a huge number on Nvidia chips. People can just look at the data and it's pretty transparent.
Trump just suckingnup
Trump has no leverage against china
❤
Mean while trump licking xi’s boots at the airport
not my business