A new story from Bloomberg Surveillance

Automatic TRANSCRIPT

American companies making fiber optic cable because of our initiatives to provide every American broadband. So the president is calling on manufacturers to make more in America. It is working. And it's reflected in these jobs numbers. I mean, this is an excellent jobs report. You're seeing record low black unemployment. You're seeing record low unemployment among people who have been left behind. And the best news for me is higher percentage of people working in the workforce any time in decades. So we're going to Middle America. We're going to folks like my dad who were left behind in the collapse and manufacturing and we're getting them back to work. That's the message to Middle America. Secretary raimondo, what's the message to the Europeans as you do this? Work with us. You know, I'm headed to Europe at the end of next month. We need to work together. And you know, I think whether it's the IRA or the chips initiative, there's opportunities for European companies and opportunities for us to work together to meet the moment with climate change and our global competition with China. Perhaps I should have been more precise. European companies will invest in the United States. What's the message for European governments who are perhaps unhappy about what's happening at the moment? It's the same message. You know, I understand that there was some initial concern about the IRA in particular. But I'll tell you, we are in constant contact with our European colleagues, including me, I've met with numbers of them and from Germany from the EU in the past couple of months. I think they're now understanding that there are opportunities for them. And by the way, we all need to do more to combat climate change. So initial hurt feelings maybe, but there's a lot of good work to do together. Let's talk about what's handy with supply chains. I know this is very important to you. Adam poston of the peace and institute said the idea that making everything domestically build resiliency is quote the fallacy of self sufficiency and has been disproven repeatedly. How would you respond to that? He's right. I mean, nobody thinks we should be making everything that we need in America. Nobody's saying we should be self sufficient. It's a global economy. We want to continue to trade. But in the case of semiconductors, for example, which are essential to our national security, the fact that we

Coming up next