HE WILL CONTINUE TO SAY THE ECONOMY IS POOR, AND THEY ARE
BLAMING BIDEN. IS THIS GOING TO WORK? GUEST:
HE IS UP AGAINST A HEAVY LIFT. HIS ACCOMPLISHMENTS UP TO NOW
THAT ARE ECONOMIC FOCUSED, THAT PASS TO CONGRESS, FOCUS ON
LONG-TERM INVESTMENTS. PHOTOS ARE NOT GOING TO REALIZE
THE BENEFITS OF ADVANCED INVESTMENTS IN SEMICONDUCTORS
OR ROADS, OR BROADBAND UNTIL WELL AFTER THE 2024 ELECTION.
THE WHITE HOUSE IS TRYING TO REMIND VOTERS OF WHAT IT HAS
DONE. THOSE WHO DO NOT FOLLOW THE
INCREMENTAL LEGISLATION LIKE WE DO.
AND PROMISED THEM THAT CHANGE IS COMING, IN THE FUTURE.
REMEMBER THAT WHEN YOU GO TO THE POLLS. JOE:
THEY ARE TRYING TO REMIND REPUBLICANS.
THE PRESIDENT TRAVELED TO CHICAGO TO FORMALLY UNVEIL THE
BIDENOMICS THEME WITH THE SIGNAGE AND FLAGS.
HE TOOK A MINUTE TO CALL OUT A SENATOR FROM ALABAMA, WHO WAS
NOT A FAN OF PRESIDENT BIDEN'S INFRASTRUCTURE PLAN TWO YEARS
AGO IN THE SENATE.
>>
PEOPLE STRENUOUSLY OPPOSED VOTING AGAINST IT WHEN WE HAD
THIS GOING ON. THIS WAS GOING TO BANKRUPT
AMERICA, THERE IS A GUY NAMED TURBERVILLE, A SENATOR FROM
ALABAMA WHO STRONGLY OPPOSED THE LEGISLATION.
NOW HE HAS HAILING IT, HE SAID IT IS GREAT TO SEE ALABAMA
STEVE CRITICAL FUNDS TO BOOST BROADBAND EFFORTS. [LAUGHTER]
[APPLAUSE] JOE:
COMPLETE WITH THE SIGN OF THE CROSS, THE PRESIDENT SPEAKING
TO A PRESS JUNKET. INTERESTING AS HE CALLS OUT
TOMMY TUBERVILLE WHO VOTED AGAINST THE INFRASTRUCTURE BILL
AND SENT OUT A TWEET CELEBRATING THE INVESTMENT IN
BROADBAND IN ALABAMA.
A SIMILAR THEME FROM TEXAS, CELEBRATING MONEY FROM THE
INFRASTRUCTURE OF LAW THAT HE VOTED AGAINST. THERE IS THE
TWEET HERE TO GIVE YOU A SENSE OF HOW HAPPY HE WAS ABOUT IT.
PRESIDENT BIDEN HAS DECIDED TO MAKE THIS PART OF HIS STUMP
SPEECH. MEGAN: IT IS A TRIED AND TRUE POSITION
TO TAKE CREDIT FOR THINGS YOU DID NOT DO.
ALL FEDERAL SPENDING IS BAD UNLESS IT IS BEING SPENT IN
YOUR BACKYARD. THIS IS ANOTHER EXAMPLE OF THAT.
IT GOT HIM A LAUGH LINE AND RESONATES WITH SOME VOTERS.
I DON'T THINK THIS IS A WINNING STRATEGY GOING INTO THE 2024
ELECTION. BUT HE GOT SOME LAUGHS TODAY.
ANNMARIE: A CRITICAL PART OF BIDENOMICS
IS NOT JUST ABOUT BUILDING INFRASTRUCTURE AT HOME, IT IS
ALSO ABOUT DOING THAT TO COMBAT WHAT IS GOING ON IN CHINA.
THAT IS WHAT I WANT TO BRING DAN IN FOR HERE.
THIS IS A CRITICAL PART IN IT COMES TO THE CHIPS ACT.
THEY WANT TO MAKE SURE THEY ARE RAMPING UP ON THIS
INFRASTRUCTURE. WHAT WE ARE HEARING IS THAT
THEY ARE LOOKING AT MORE PENALTIES ON CHINA, OR NOT
ALLOWING U.S. COMPANIES TO EXPORT CERTAIN
MATERIAL TO CHINA. GUEST:
WE ARE TALKING ABOUT THE NVIDIA NEWS, THEY MAY TAKE AIM AT SOME
OF NVIDIA'S CHIPS IN PROPOSED RULE THAT IS COMING OUT LATER
THIS SUMMER. THIS IS ABOUT AI. THE U.S.
DOES NOT WANT CHINA TO GET TOO FAR AHEAD OF IT IN AI, IT WANTS
TO BE ABLE TO PRESERVE ITS ADVANTAGE IN DEVELOPING AI.
WHAT IT HAS TRIED TO DO IS ALLOW ITS COMPANIES IN THE U.S.
TO HAVE ACCESS TO TECHNOLOGY IT
NEEDS TO DEVELOP, BUT ALSO TO KEEP CHINA FROM THE MOST
CUTTING EDGE CHIPS. THERE IS A COMBINATION OF
INVESTMENT AT HOME, IT IS GOOD FOR THE ELECTION, AND A FOREIGN
POLICY STRATEGY OF RESTRICTING DEVELOPMENT ABROAD.
IT HAS THE BENEFIT OF LOOKING TOUGH ON CHINA, BUT ALSO
KEEPING THOSE TWO THINGS IN CONCERT. JOE:
HOW DOES THAT JIVE WITH THE MESSAGING COMING FROM THE WHITE
HOUSE? BLINKEN WAS JUST THERE.
TO BLOCK THE TRANSFER OF THESE CARDS THAT NVIDIA MAKES, HOW DO
YOU REACH OUT WITH ONE HAND AND SAY WE ARE FRIENDS, BUT AT THE
SAME TIME SAY YOU CANNOT HAVE THIS. DANIEL:
IT IS A COMPLICATED SITUATION. IF YOU LOOK AT WHAT HAPPENED
TODAY, THERE ARE ADJUSTMENTS THAT ARE BEING MADE.
THIS IS NOT A WHOLESALE, NEW POLICY.
IT IS FROM TO CAPTURE A SICKLY SOME ECONOMIC ACTIVITY THAT MAY
HAVE FALLEN OUTSIDE OF THE ORIGINAL PROPOSED RULE.
IT IS NOTHING NEW FROM THE CHINESE PERSPECTIVE.
THEY HAD A STRONG REACTION TO IT.
I DO NOT THINK IT DERAILS THE BROADER DIPLOMATIC EFFORTS
BECAUSE CHINA NEEDS U.S. INVESTMENT AS WELL.
IT NEEDS U.S. COMPANIES TO BE INVOLVED IN
CHINA. WE HAVE SEEN A PARADE OF U.S.
CEOS GOING TO CHINA CHINA LIKES THAT BECAUSE THEY WANT THAT
BUSINESS ACTIVITY. COMPANIES IN THE U.S.
WANT TO MAKE THOSE INVESTMENTS BECAUSE THEY WANT THAT MARKET.
ANNMARIE: THIS WILL BE A HARD AREA FOR
REPUBLICANS TO THROW STONES AT.
MEGAN: THERE IS ALWAYS THE PUSH AND
PULL ON WHO IS TOUGHER ON CHINA. ANNMARIE:
AND IT IS GOING TO GET WORST. MEGAN:
THERE ARE MULTIPLE TOOLS AT THE ADMINISTRATION'S DISPOSAL AND
MULTIPLE WAYS THE REPUBLICANS CAN ATTACK BIDEN ON THIS.
WHETHER OR NOT THE PRESIDENT IS PUTTING ENOUGH INTO DEFENSE TO
PREVENT A WAR WITH CHINA.
THERE WILL ALWAYS BE PUSH AND POLLS.