May 6, 2025 • 19 mins
India's government said it conducted targeted military strikes against Pakistan early Wednesday, a widely anticipated move after it pledged retaliation for a militant attack last month in Kashmir that killed 26 people. Pakistan said it shot down five Indian airplanes in retaliation. The downing of the jets are not "hostile acts" and Pakistan was defending its territory, according to the country's Defense Minister, Khawaja Muhammad Asif. He speaks with Bloomberg's Shery Ahn and Paul Allen.
Plus - US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer will travel to Switzerland later this week for trade talks with China led by Vice Premier He Lifeng, jump-starting negotiations between the two nations. The visit was announced in statements Tuesday from the Chinese and US governments. It will be the first confirmed trade talks between the countries since President Donald Trump announced sweeping tariffs, led by punishing levies on China. We get reaction from Romy Varghese, Bloomberg News Politics Editor, and Bloomberg China Correspondent, Minmin Low.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:10):
Welcome to the Bloomberg Daybreak Asia podcast. I'm Charlie Pellett.
We're tracking two major stories for you this morning. Treasury
Secretary Scott Bessant and US Trade Representative Jamison Greer will
travel to Switzerland later this week for trade talks with China.
More on the talks coming up, but we begin with this.
(00:30):
India has conducted targeted military strikes against Pakistan. The move
was widely expected after India pledged retaliation for a militant
attack last month in Kashmir that killed twenty six people.
In response, Pakistan said it shot down five Indian warplanes.
And for more, we heard from Pakistan's Defense Minister Kwaja Asif,
(00:54):
who spoke with Bloomberg's Sharryon and Paul Allen.
Speaker 1 (00:59):
Minister, great have you with us, and thank you so
much for taking the time. We have heard about what
Pakistan has done. We are of course talking about an
escalation here when it comes to the conflict with India.
How far could this conflict go?
Speaker 3 (01:15):
Well, let me give you the latest count. We have
down five Indian plane parks and air Force has shut
down five Indian planes and multiple ua vs and their
checkposts on the on the control line, a couple of
checkposts have been destroyed. So this is this is the
(01:37):
datast as for what is happening on the control line
or international border between India and Pakistan. As for the
attacks of Indian Air Force are concerned on seven different locations,
two in Indian in and my independent Krishmir, one ins
(02:05):
uh in number of Rabba, other courtly and five other
locations in Pakistan. Given this impression that uh these places
had terrast camps, well, I have uh you know, invited
the international media and our local media to visit all
(02:27):
these places and see for themselves if there are any
terrorist camps or terrorist outfits on these locations. The civilian
population has suffered, a lady has been martyred, a childless
and martyred, and few other you know, uh you know,
(02:53):
counties have been suffered by Pakistan. Civilian city and two
molis have destroyed.
Speaker 1 (03:02):
Good question right, all hanging here is how far is
Pakistan willing to go here?
Speaker 3 (03:08):
It all depends upon that this has been initiated by India.
If India is ready to back down, they have taken
the initiative. We have just responded We have been saying
all along in last fortnight that we will never initiate
any initiate anything hostile towards India, but if we are attacked,
(03:33):
we will respond. If India backs down, we will definitely
wrap up these things, you know. But as long we
are under attack, under fire, we have to respond. We
have to defend ourselves.
Speaker 4 (03:46):
Minister, is there any contacts between yourself and the Indian
side at the moment.
Speaker 3 (03:51):
I'm not aware of it, you know, I'm not aware
of it. If there is contact normally during these hostile
you know, activities and tensions that are backdoor context available
anywhere in the world, you know there is, But I'm
not aware of any contact between India and Parkson at
(04:14):
the moment.
Speaker 4 (04:16):
I also conser that India's suspended the Indus River Treaty.
Flows from the Chenab River into Pakistan have been restricted.
Do you anticipate that continuing or is there some talk
to at least restore river flows to Pakistan.
Speaker 3 (04:33):
I think World Bank brokeered this treaty way back in
nineteen sixty, which is now what sixty five years old
treaty and it has worked reasonably well, not excellent, but
reasonably well. Over the years we have face problems but
that still works here. But India now has is seriously
(04:56):
violating this treaty any outflow or any downstream towards Pakistan
because we are low Riparian country. It has to be
under the treaty we have to be notified that this
much water has been released from such and such location
(05:18):
and we should take care of that here. In last
for five days or a week, there were there were
releases of water, uh you know, without any warning and
then there was stoppage of water all so without any
more warning. So this flip flop situation is going on
for last about eight nine days and the treaty is
(05:41):
being violated by India almost on a daily basis. World
Bank can can can intervene not they they broke this
treaty and we can talk to them. With the Indians
as for my w TES is concerned. But under the circumstances, yes, yes,
(06:03):
go ahead, Please ask no.
Speaker 1 (06:05):
Please finish your thought under these circumstances.
Speaker 3 (06:08):
Under Under under these circumstances, when we are eyeball to
our eyeball to our forces, both countries are facing each
other on the on the line of control on international
boundary on working boundary. Under these circumstances, I think once
(06:29):
the peace returns, this treaty can can be enforced again.
And if there are a need of any negotiations between
between India and Bankstan, our World Bank can play very
significant role in that. You know that that can be done.
But under the pleasant circumstances, yes, yes, please go ahead.
Speaker 1 (06:51):
And it sounds to us that you're willing to have
contact with India, that you want to talk. Does that
mean that you will carry out negotiations before or there's
another escalation on your side when you say you already
shut down jets, when you already took soldiers, is that
the extent of what Pakistan is willing to do before
(07:11):
there is a conversation with India.
Speaker 3 (07:15):
You must understand that these are not hostile X. We
are just defending our territory, you know, because India's incursions
over last let's say five hours or six six hours,
I think around eleven thirty or twelve o'clock or maybe
(07:36):
after midnight it all started. So we are just responding.
If these hostile X are stopped or they cease to
you know, continue these X against Pakistan, we will definitely
talk to India and we do not want this situation
(07:57):
to escalate, but if it we are forced to respond,
if there are hostile acts initiated from Indian side, then
we have to respond. You know, we cannot just sit
back and take whatever is coming to us.
Speaker 1 (08:12):
You know, So you've also been speaking to the US.
What we understand that you've been speaking to Secretary of Rubio.
Have you talked to Washington after uh, these attacks from
India and what about Beijing? How does China play into
this conflict?
Speaker 3 (08:33):
Well, my you know, China is definitely you know, they
are the third party to Krishmir. A part of Kashmir
is with China also, So this is this is something
I think China is a very very relevant player in
the region, very very relevant player. They can they can
(08:57):
you know, use their influence. I don't know whether it
will work with India or not, but beyond China, if
you know, other countries in the region, like in the
Arabian Gulf or Russian Federation or President Trump has spoken
just a couple of hours back and he called this
(09:20):
act of Indian aggression shame. So uh, President Trump, uh,
you know, has been been last since he has taken
over a presidential office in the United States. He has
been talking of conciliations and reconciliations and you know, my
(09:41):
peaceful world he is uh uh you know I'm talking
about He can also play very significant role in none
bringing the two countries to to halt the hostilities.
Speaker 4 (09:56):
Minister, part of the reason the world is so concerned
with this conflict is the because your nation and India
both nuclear armed. How do you prevent this conflict from
escalating before either country starts talking about nuclear de terrence.
Speaker 3 (10:12):
Well, this is this is a huge risk, you know,
when two nuclear powers are, you know, confronting each other
and we do not have any intention of using a
nuclear option. That that is just something which guarantees are
(10:34):
as sovereignty, especially when we have next door a neighbor
who is extremely hostile towards us. Seventy seven years of
our neighbor relationship. Neighborhood, you know, is a witness or
evidence to the fact that Anya has been hostiled and
(10:59):
not only on the on on the on the western
eastern border, the border between India and Pakistan. They have
the proxies working against us from Afalistan, both in our
province of Pakin Kai and Blukhstan also, so they have
their proxies trained and financed by India. So we are
victims of aggression from both sides by the Indians, you know,
(11:24):
one directly they engage in hostility with US and there
is through through their terrorist proxies.
Speaker 4 (11:38):
All right, Pakistan's Defense Minister Kauwajia Mohammad Asif, thank you
so much for joining us today. Bloomberg News is also
reaching out to Indian officials for comment as well.
Speaker 2 (11:48):
Again, Pakistani Defense Minister Kauwaja Sief and conversation with Bloomberg's
Sharry On and Paul Allen, coming up the latest on
US China trade negotiations. I'm Charlie Pellatin. This is Bloomberg
Welcome back to the Daybreak Asia podcast. I'm Charlie Pelatin
(12:10):
for Doug Prisner. This week, Treasury Secretary Scott Bessington, US
Trade Representative Jamison Greer will be traveling to Switzerland later
this week for trade talks with China. The travel was
announced in statements from the Chinese and US governments. It'll
be the first confirmed trade talks between the countries since
President Donald Trump announced sweeping tariffs led by punishing levies
(12:34):
on China. And for the latest, we heard from Bloomberg
Politics out at a romy Varghees alongside Bloomberg's China correspondent,
men In Low. They spoke with Bloomberg, Scherryon and Paul
Allen Remy.
Speaker 4 (12:48):
I want to stop with you. What are the expectations
for these talks? Where do we set the bar?
Speaker 5 (12:54):
I think the fact that these talks are happening is
a huge development. This is I must remind everyone. This
is the first confirmed trade talks between the two countries.
And obviously what is happening between China and the United
States has been concerning investors. I mean earlier today, stocks
(13:14):
in the United States fell based on Trump's comments earlier
saying that the US is losing nothing by not trading
with China. So the fact that these talks are happening
is a significant development. And indeed you see stock features
in the United States moving higher on this and.
Speaker 1 (13:31):
Maybe in a significant development that the Chinese side is
willing to acknowledge the conversations are happening. So what can
we expect to be the bar for China when it
comes to these negotiations.
Speaker 6 (13:43):
Yeah, I think it's really significant. Two things. One, I
think this is one of the few times we have
coordinated messaging from US and China, both sides releasing their
statement around six am local paging time, acknowledging that these
trade talks are happening. And secondly, you have officials at
the very top level, because China is fielding early fund,
(14:05):
which is the Vice Premier. If you remember, the first
trade deal was negotiated by the Vice Premier at that time, Leoha,
who signed the Phase one trade deal with President Trump.
So this is a very high level official that is
going to be overseeing these talks with Scott Bessant and
Jamison Grier, and the Chinese Commerce Ministry will lease a statement,
a pretty long one, reiterating that china stunts hasn't changed
(14:28):
at all. It's open to dialogue, yes, but if the
US wants to fight, it is still going to fight
till the end, and China is not going to compromise
on its principles. It will be defending its legitimate rights
and interests. And that statement also came with a warning
for other countries looking to negotiate with the US, saying
that quote appeacement cannot be exchanged for compromise is not respected.
(14:52):
Adhering to principal positions and fairness and justice is the
right way to safeguard one's own interests, and the statement
also saying that China will continue to open up to
share its development opportunities with the rest of the world,
is willing to work with other countries to jointly oppose gemony, protectionism,
and bullying.
Speaker 1 (15:11):
Robbie when he comes to these trade negotiations we have
for a president Trump talk about not wanting that back
and forth approach, that he'll be prescribing tariffs to other
countries and that they should either accept or not. Do
you expect that approach to actually work on Beijing or
will he take a two way approach given that really
China has remained defiant so far.
Speaker 5 (15:34):
I think this is going to be a tricky situation,
and that's why you see Scott Besson and Jamison Greer
starting these talks. During his comments today with the new
Canadian Prime minister, Trump made it clear that he is
the final arbiter of all trade deils, and indeed he
said you did not want this back and forth negotiation.
(15:58):
But I would also note that Scott Beston earlier today
when he spoke to lawmakers on Capitol Hill. You know,
he talked about how things were progressing. He talked about
how talks were progressing with other nations. So Trump is
aware that that markets are watching, but he also wants
(16:20):
to stick to his tenant that he is the one
who makes the deal and he needs to see something
significant happen with China because he feels that China has
treated the United States very unfairly.
Speaker 4 (16:34):
Men, men, China is not just going to be talking
to the US. We've also got used to President Xijian
thing's going to be heading to Moscow for talks with
Russia as well. What's on the table here and so
what degree does this offer China some extra leverage when
it comes to speaking with the US.
Speaker 6 (16:50):
Yeah, So Presidency going to Russia at this time when
we have seen this backdrop of international alliance sort of
shifting with President Trump also called put In to push
for that sees fire in Ukraine. This is a trip
for China to establish that US China ties remains iron
clad despite that sort of courting from President Trump so far.
(17:13):
And Presidency is there to support Russia to attend the
parade marketing Soviet Union's win over Nazi Germany. During World
War Two. And this is a mutual sign of support
because the Kremlin also said that Putin has agreed to
visit Beijing in September to mark China's win over Japan
during World War two. As well, both sides about to
(17:35):
sign by electoral documents as well as release a joint
statement that according to the Kremlin, they will be discussing
US Russia ties as well as the Ukraine War, as
well as economic and energy issues given the threat that
Russia is facing from Europe now, the prospect of Europe
cutting off their energy ties with Russia. And we know
(17:55):
Russia has been diverting a lot of its energy supplied
to China while China handed that economic lifeline to Russia.
So both sides also, according to the Ministry of Foreign
Fans from China, both sides jointly opposing hegemony and bullying
again coming together to oppose or to create that multipolar
world order that they want to see.
Speaker 1 (18:16):
And ROMI, before we let you go, what's the state
of the trade negotiations between President Trump and other countries.
We just heard that that negotiation with McCartney with Canada
went very well according to the President.
Speaker 5 (18:31):
Yes, I would I would refer to my early statement
about Scott Beston actually predicting that a trade deal could
happen as early as this week with other with nations
other than China, and he even said that eighty to
ninety percent of trade deals could happen this year. So
Scott Beston is putting an optimistic tone on negotiations, while
(18:55):
Donald Trump is insisting that he's not going to do
a back and forth the negotiations.
Speaker 1 (19:02):
Tomi Virgis and I were trying to correspond to me
mean though, there with the latest.
Speaker 2 (19:09):
Thanks for listening to today's episode of the Bloomberg Daybreak
Asia Edition podcast. Each weekday, we look at the story
shaping markets, finance, and geopolitics in the Asia Pacific. You
can find us on Apple, Spotify, the Bloomberg Podcast YouTube channel,
or anywhere else you listen. Join us again tomorrow for
insight on the market moves from Hong Kong to Singapore
(19:31):
and Australia. I'm Doug Chrisner, and this is Bloomberg
Bloomberg Audio Studios, Podcasts, radio News.
Speaker 2 (00:10):
Welcome to the Bloomberg Daybreak Asia podcast. I'm Charlie Pellett.
We're tracking two major stories for you this morning. Treasury
Secretary Scott Bessant and US Trade Representative Jamison Greer will
travel to Switzerland later this week for trade talks with China.
More on the talks coming up, but we begin with this.
(00:30):
India has conducted targeted military strikes against Pakistan. The move
was widely expected after India pledged retaliation for a militant
attack last month in Kashmir that killed twenty six people.
In response, Pakistan said it shot down five Indian warplanes.
And for more, we heard from Pakistan's Defense Minister Kwaja Asif,
(00:54):
who spoke with Bloomberg's Sharryon and Paul Allen.
Speaker 1 (00:59):
Minister, great have you with us, and thank you so
much for taking the time. We have heard about what
Pakistan has done. We are of course talking about an
escalation here when it comes to the conflict with India.
How far could this conflict go?
Speaker 3 (01:15):
Well, let me give you the latest count. We have
down five Indian plane parks and air Force has shut
down five Indian planes and multiple ua vs and their
checkposts on the on the control line, a couple of
checkposts have been destroyed. So this is this is the
(01:37):
datast as for what is happening on the control line
or international border between India and Pakistan. As for the
attacks of Indian Air Force are concerned on seven different locations,
two in Indian in and my independent Krishmir, one ins
(02:05):
uh in number of Rabba, other courtly and five other
locations in Pakistan. Given this impression that uh these places
had terrast camps, well, I have uh you know, invited
the international media and our local media to visit all
(02:27):
these places and see for themselves if there are any
terrorist camps or terrorist outfits on these locations. The civilian
population has suffered, a lady has been martyred, a childless
and martyred, and few other you know, uh you know,
(02:53):
counties have been suffered by Pakistan. Civilian city and two
molis have destroyed.
Speaker 1 (03:02):
Good question right, all hanging here is how far is
Pakistan willing to go here?
Speaker 3 (03:08):
It all depends upon that this has been initiated by India.
If India is ready to back down, they have taken
the initiative. We have just responded We have been saying
all along in last fortnight that we will never initiate
any initiate anything hostile towards India, but if we are attacked,
(03:33):
we will respond. If India backs down, we will definitely
wrap up these things, you know. But as long we
are under attack, under fire, we have to respond. We
have to defend ourselves.
Speaker 4 (03:46):
Minister, is there any contacts between yourself and the Indian
side at the moment.
Speaker 3 (03:51):
I'm not aware of it, you know, I'm not aware
of it. If there is contact normally during these hostile
you know, activities and tensions that are backdoor context available
anywhere in the world, you know there is, But I'm
not aware of any contact between India and Parkson at
(04:14):
the moment.
Speaker 4 (04:16):
I also conser that India's suspended the Indus River Treaty.
Flows from the Chenab River into Pakistan have been restricted.
Do you anticipate that continuing or is there some talk
to at least restore river flows to Pakistan.
Speaker 3 (04:33):
I think World Bank brokeered this treaty way back in
nineteen sixty, which is now what sixty five years old
treaty and it has worked reasonably well, not excellent, but
reasonably well. Over the years we have face problems but
that still works here. But India now has is seriously
(04:56):
violating this treaty any outflow or any downstream towards Pakistan
because we are low Riparian country. It has to be
under the treaty we have to be notified that this
much water has been released from such and such location
(05:18):
and we should take care of that here. In last
for five days or a week, there were there were
releases of water, uh you know, without any warning and
then there was stoppage of water all so without any
more warning. So this flip flop situation is going on
for last about eight nine days and the treaty is
(05:41):
being violated by India almost on a daily basis. World
Bank can can can intervene not they they broke this
treaty and we can talk to them. With the Indians
as for my w TES is concerned. But under the circumstances, yes, yes,
(06:03):
go ahead, Please ask no.
Speaker 1 (06:05):
Please finish your thought under these circumstances.
Speaker 3 (06:08):
Under Under under these circumstances, when we are eyeball to
our eyeball to our forces, both countries are facing each
other on the on the line of control on international
boundary on working boundary. Under these circumstances, I think once
(06:29):
the peace returns, this treaty can can be enforced again.
And if there are a need of any negotiations between
between India and Bankstan, our World Bank can play very
significant role in that. You know that that can be done.
But under the pleasant circumstances, yes, yes, please go ahead.
Speaker 1 (06:51):
And it sounds to us that you're willing to have
contact with India, that you want to talk. Does that
mean that you will carry out negotiations before or there's
another escalation on your side when you say you already
shut down jets, when you already took soldiers, is that
the extent of what Pakistan is willing to do before
(07:11):
there is a conversation with India.
Speaker 3 (07:15):
You must understand that these are not hostile X. We
are just defending our territory, you know, because India's incursions
over last let's say five hours or six six hours,
I think around eleven thirty or twelve o'clock or maybe
(07:36):
after midnight it all started. So we are just responding.
If these hostile X are stopped or they cease to
you know, continue these X against Pakistan, we will definitely
talk to India and we do not want this situation
(07:57):
to escalate, but if it we are forced to respond,
if there are hostile acts initiated from Indian side, then
we have to respond. You know, we cannot just sit
back and take whatever is coming to us.
Speaker 1 (08:12):
You know, So you've also been speaking to the US.
What we understand that you've been speaking to Secretary of Rubio.
Have you talked to Washington after uh, these attacks from
India and what about Beijing? How does China play into
this conflict?
Speaker 3 (08:33):
Well, my you know, China is definitely you know, they
are the third party to Krishmir. A part of Kashmir
is with China also, So this is this is something
I think China is a very very relevant player in
the region, very very relevant player. They can they can
(08:57):
you know, use their influence. I don't know whether it
will work with India or not, but beyond China, if
you know, other countries in the region, like in the
Arabian Gulf or Russian Federation or President Trump has spoken
just a couple of hours back and he called this
(09:20):
act of Indian aggression shame. So uh, President Trump, uh,
you know, has been been last since he has taken
over a presidential office in the United States. He has
been talking of conciliations and reconciliations and you know, my
(09:41):
peaceful world he is uh uh you know I'm talking
about He can also play very significant role in none
bringing the two countries to to halt the hostilities.
Speaker 4 (09:56):
Minister, part of the reason the world is so concerned
with this conflict is the because your nation and India
both nuclear armed. How do you prevent this conflict from
escalating before either country starts talking about nuclear de terrence.
Speaker 3 (10:12):
Well, this is this is a huge risk, you know,
when two nuclear powers are, you know, confronting each other
and we do not have any intention of using a
nuclear option. That that is just something which guarantees are
(10:34):
as sovereignty, especially when we have next door a neighbor
who is extremely hostile towards us. Seventy seven years of
our neighbor relationship. Neighborhood, you know, is a witness or
evidence to the fact that Anya has been hostiled and
(10:59):
not only on the on on the on the western
eastern border, the border between India and Pakistan. They have
the proxies working against us from Afalistan, both in our
province of Pakin Kai and Blukhstan also, so they have
their proxies trained and financed by India. So we are
victims of aggression from both sides by the Indians, you know,
(11:24):
one directly they engage in hostility with US and there
is through through their terrorist proxies.
Speaker 4 (11:38):
All right, Pakistan's Defense Minister Kauwajia Mohammad Asif, thank you
so much for joining us today. Bloomberg News is also
reaching out to Indian officials for comment as well.
Speaker 2 (11:48):
Again, Pakistani Defense Minister Kauwaja Sief and conversation with Bloomberg's
Sharry On and Paul Allen, coming up the latest on
US China trade negotiations. I'm Charlie Pellatin. This is Bloomberg
Welcome back to the Daybreak Asia podcast. I'm Charlie Pelatin
(12:10):
for Doug Prisner. This week, Treasury Secretary Scott Bessington, US
Trade Representative Jamison Greer will be traveling to Switzerland later
this week for trade talks with China. The travel was
announced in statements from the Chinese and US governments. It'll
be the first confirmed trade talks between the countries since
President Donald Trump announced sweeping tariffs led by punishing levies
(12:34):
on China. And for the latest, we heard from Bloomberg
Politics out at a romy Varghees alongside Bloomberg's China correspondent,
men In Low. They spoke with Bloomberg, Scherryon and Paul
Allen Remy.
Speaker 4 (12:48):
I want to stop with you. What are the expectations
for these talks? Where do we set the bar?
Speaker 5 (12:54):
I think the fact that these talks are happening is
a huge development. This is I must remind everyone. This
is the first confirmed trade talks between the two countries.
And obviously what is happening between China and the United
States has been concerning investors. I mean earlier today, stocks
(13:14):
in the United States fell based on Trump's comments earlier
saying that the US is losing nothing by not trading
with China. So the fact that these talks are happening
is a significant development. And indeed you see stock features
in the United States moving higher on this and.
Speaker 1 (13:31):
Maybe in a significant development that the Chinese side is
willing to acknowledge the conversations are happening. So what can
we expect to be the bar for China when it
comes to these negotiations.
Speaker 6 (13:43):
Yeah, I think it's really significant. Two things. One, I
think this is one of the few times we have
coordinated messaging from US and China, both sides releasing their
statement around six am local paging time, acknowledging that these
trade talks are happening. And secondly, you have officials at
the very top level, because China is fielding early fund,
(14:05):
which is the Vice Premier. If you remember, the first
trade deal was negotiated by the Vice Premier at that time, Leoha,
who signed the Phase one trade deal with President Trump.
So this is a very high level official that is
going to be overseeing these talks with Scott Bessant and
Jamison Grier, and the Chinese Commerce Ministry will lease a statement,
a pretty long one, reiterating that china stunts hasn't changed
(14:28):
at all. It's open to dialogue, yes, but if the
US wants to fight, it is still going to fight
till the end, and China is not going to compromise
on its principles. It will be defending its legitimate rights
and interests. And that statement also came with a warning
for other countries looking to negotiate with the US, saying
that quote appeacement cannot be exchanged for compromise is not respected.
(14:52):
Adhering to principal positions and fairness and justice is the
right way to safeguard one's own interests, and the statement
also saying that China will continue to open up to
share its development opportunities with the rest of the world,
is willing to work with other countries to jointly oppose gemony, protectionism,
and bullying.
Speaker 1 (15:11):
Robbie when he comes to these trade negotiations we have
for a president Trump talk about not wanting that back
and forth approach, that he'll be prescribing tariffs to other
countries and that they should either accept or not. Do
you expect that approach to actually work on Beijing or
will he take a two way approach given that really
China has remained defiant so far.
Speaker 5 (15:34):
I think this is going to be a tricky situation,
and that's why you see Scott Besson and Jamison Greer
starting these talks. During his comments today with the new
Canadian Prime minister, Trump made it clear that he is
the final arbiter of all trade deils, and indeed he
said you did not want this back and forth negotiation.
(15:58):
But I would also note that Scott Beston earlier today
when he spoke to lawmakers on Capitol Hill. You know,
he talked about how things were progressing. He talked about
how talks were progressing with other nations. So Trump is
aware that that markets are watching, but he also wants
(16:20):
to stick to his tenant that he is the one
who makes the deal and he needs to see something
significant happen with China because he feels that China has
treated the United States very unfairly.
Speaker 4 (16:34):
Men, men, China is not just going to be talking
to the US. We've also got used to President Xijian
thing's going to be heading to Moscow for talks with
Russia as well. What's on the table here and so
what degree does this offer China some extra leverage when
it comes to speaking with the US.
Speaker 6 (16:50):
Yeah, So Presidency going to Russia at this time when
we have seen this backdrop of international alliance sort of
shifting with President Trump also called put In to push
for that sees fire in Ukraine. This is a trip
for China to establish that US China ties remains iron
clad despite that sort of courting from President Trump so far.
(17:13):
And Presidency is there to support Russia to attend the
parade marketing Soviet Union's win over Nazi Germany. During World
War Two. And this is a mutual sign of support
because the Kremlin also said that Putin has agreed to
visit Beijing in September to mark China's win over Japan
during World War two. As well, both sides about to
(17:35):
sign by electoral documents as well as release a joint
statement that according to the Kremlin, they will be discussing
US Russia ties as well as the Ukraine War, as
well as economic and energy issues given the threat that
Russia is facing from Europe now, the prospect of Europe
cutting off their energy ties with Russia. And we know
(17:55):
Russia has been diverting a lot of its energy supplied
to China while China handed that economic lifeline to Russia.
So both sides also, according to the Ministry of Foreign
Fans from China, both sides jointly opposing hegemony and bullying
again coming together to oppose or to create that multipolar
world order that they want to see.
Speaker 1 (18:16):
And ROMI, before we let you go, what's the state
of the trade negotiations between President Trump and other countries.
We just heard that that negotiation with McCartney with Canada
went very well according to the President.
Speaker 5 (18:31):
Yes, I would I would refer to my early statement
about Scott Beston actually predicting that a trade deal could
happen as early as this week with other with nations
other than China, and he even said that eighty to
ninety percent of trade deals could happen this year. So
Scott Beston is putting an optimistic tone on negotiations, while
(18:55):
Donald Trump is insisting that he's not going to do
a back and forth the negotiations.
Speaker 1 (19:02):
Tomi Virgis and I were trying to correspond to me
mean though, there with the latest.
Speaker 2 (19:09):
Thanks for listening to today's episode of the Bloomberg Daybreak
Asia Edition podcast. Each weekday, we look at the story
shaping markets, finance, and geopolitics in the Asia Pacific. You
can find us on Apple, Spotify, the Bloomberg Podcast YouTube channel,
or anywhere else you listen. Join us again tomorrow for
insight on the market moves from Hong Kong to Singapore
(19:31):
and Australia. I'm Doug Chrisner, and this is Bloomberg
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