David Westin, Denise Pellegrini, Boeing discussed on Bloomberg Radio New York Show

Automatic TRANSCRIPT

Best time at Baxter and I'm Denise Pellegrini Attorneys Commerce Secretary Jeana Raimondo is at the forefront of the U. S effort to grow the U. S semiconductor industry. And she tells our David Westin. She really sees progress on trade issues, including aluminum and steel tariffs, so some great perspective as well on what's involved here for the Biden administration, including job creation. Let's listen in. As the president says, You know, America is back and we are back in the business of working with our allies here in Europe, So tell us about the larger canvas here of the work that you're getting done and let me ask you another specific, which is aluminum and steel tariffs that's been pending. Is there any estimate of when that might get resolved as it relates to the tariffs? You know, the Trump Administration put those in place? As I have said, in a number of occasions in way they've been very helpful and protecting our steel industry, inner steel workers, But We want to stay at the table with the EU to try to resolve the tariffs, while also, um dealing with the real problem here, which is over capacity of excess steel and aluminum, mostly driven by China. So we were going to work as hard as we can between now and December, 1st to see if we can come up with a resolution. Why that timeline because the EU Has suspended the retaliatory tariffs for the next six months. And that gives us some breathing room in order to see if we can make progress. As you know, Madam Secretary. Excess Steel capacity has been a problem in the world for a long time. Are you hopeful you can make enough progress with Europe, at least by December, 1 to actually take those tariffs off? I am hopeful. Uh, we have to be realistic. This is this is complicated. It's a complex issue. Steel. Um, is a critical industry in America and our steelworkers are obviously vitally important to us. Having said that I've spent hours in meetings with my counterparts here. They are committed to finding a solution, as are we and the president has directed all of us to Really in reinvigorate our relationships with our allies in the EU, So we're going to work as hard as we can. And at this point, I'm optimistic. It's in both of our interests. I think whether it's trade technology, cybersecurity, steel and aluminum tariffs, semiconductors It's in our mutual best interests to work with our allies to find solutions. Well, I'm finding solutions. I want to come back to something. The president has emphasized time and time again, Ambassador Tie has you have which is jobs and putting really jobs and creation and maintenance of US jobs at the center of US Trade policy? Typically, we think of their as being a tradeoff. Protectionism creates jobs, but it really damages trade. Is it a trade off? What can you do over there? In Europe? They will actually facilitate trade and create jobs back United States at the same time, Yes. So it's not a trade off in so far as in the long run, you know, we have to create jobs. We have to grow both of our economies. We also to recognize their different kinds of jobs, which is why we need to really have a focus on Re Skilling both in the EU and in America. But I would say is, if you think about technology and the digital economy, you know, massive job creation will occur in the EU in America in the coming years in the digital economy. If it is incumbent upon America and the EU, which which have shared values to set the rules of the road. And we certainly don't want countries like China setting the rules of the road. So if you think about artificial intelligence and the digital economy America and Europe, which share the same values share the same values around privacy protection. For example, we need to set the standards and the rules of the road, which will promote job growth. And also do it in a way, which is consistent with our values across the Atlantic. One of the things Madam secretary that is getting in the way of us jobs right now is some supply chain problems specifically semiconductors, although not limited to semiconductors. I know you're part of the president's task force with secretaries, Buddha Judge and Vilsack. When do we expect to make some progress on that? This is another perfect example where we have shared interest in this job creation opportunity. Right now, Both America and Europe are facing a supply shortage in semiconductors. And quite frankly, we are both vulnerable insofar as we're overly reliant on Asia for two mantra verse supply of semiconductors, so if we can re sure semiconductor manufacturing to America or to our ally countries in Europe It protects our supply chain increases our supply and creates jobs. So that is an area where working on every day all day every day. Semiconductor. You can't do anything without semiconductors. If you think about In the moment you woke up this morning until the moment you go to bed. You're relying on semiconductors. And so this is the top focus. We are making progress, and I'm extremely confident that we'll be able to work with the EU and our allies on this topic. So explain that if you can, madam Secretary I understand how re showing the United States of semiconductor production design and production. Would really help our supply chain here. How would re shoring to Europe? How would make sure that we had access to those semiconductors being manufactured over in Europe? Well, Europe are longstanding allies. I think we can all agree that we Much prefer to be reliant on a factory in Europe than in China, uh, in Europe than in other places around the world, so Our primary focus, of course, is making semiconductor chips in America creates jobs, and it's on our shore. But as between having semiconductor operation and you know France or Germany or You know another European country and Taiwan or China? I think that, um you know this clear value to shoring up the resources we have in our allied countries. Madam secretary. You mentioned China a couple of times. It's been mentioned. Also, for example, by EU Mission president Ms Van Denier with respect to the raw materials, talk about China and U. S jobs specifically, and one of the things that we could do to create jobs. United States is for Boeing to be able to sell 7 30 sevens into China in a way that they not be able to do is that on the agenda when you talk to your counterparts of China? Is that something we're talking with him about? It is it is. I think that with respect to China, we will continue to do business with them, and that is in our interest. You know, we have a tremendous amount of exports to China, and that's important for American businesses and American jobs. And so we need to You know, agree where we can find agreement and do business in all possible ways with China. However, we also have to protect Americans and American workers and American National security. I think the best thing that we can do in that regard is invest in America and you've been listening to Commerce Secretary General Mondo.

Coming up next