my question really gets to, you know if we've got e.u. regulatory constraint, we talked about cooperating with our ally, they're moving forward on legislation, what effect the e.u. pass theirs a.i. act will that have on the united states and other allies and is this going to potentially put a damper on that innovation you talked about that's so important among u.s. exeans? mr. fick: thank you, senator. yes, we've been in regular dialogue with our counterpart, post both member states and the european commission on the substance of the: -- of the a.i. act. i would make three points on this. the first is speed. as you pointed out, the act was first drafted before chat gpt was released a year ago. in some sense it's already been evertake bin events. sen. ricketts: already obsolete. mr. fick: also as currently drafted it would hinder law enforcement cooperation between the united states and e.u. things like the yeufs facial recognition technology at borders or by law enforcement. third we hear repeatedly from innovators not only in the united

turns out -- one who was sanctioned by the e.u. last december. do you have an issue that the e.u.ian official will be in the same room with the president and oh >> i will let the e.u. speak to their sanctions. as the host of apec, we have a responsibility, we take our host obligation, responsibility and that includes hosting officials from all the members of apec, but we do it consistent with u.s. sanctions policy and rules and regulations. >> as a violation of e.u. sanction. >> i'm not going to get into technical sanction questions. i would say we have an obligation as the host. we attend, one of the things about diplomacy, you attend a lot of meetings whose policies you object to and sometimes things they have done, but we have a responsibility to conduct diplomacy on behalf of the united states. >> and second question ahead of the congressional hearing, in terms of the future -- you have azerbaijan celebrating a victory in a town surrounded by russian army. you have armenia bullied by russia every day saying i'm not going to go anywhere. is there a happy ending in your

election though as i mentioned the previous proposal and hasn't been pushing hard for referendum on e.u. membership but looks to block new members like ukraine. he made calls for total ban on immigration which has been a hot topic in the netherlands. the out going government the dutch struggling with cost of living crisis inflation topped 17 percent one point last year and the economy in recession. winning the election is one inning. forming a government is the next challenge and one vilders may struggle with his extremist views. >> the dutchman has hope that people get their country back that we make sure the netherlands are for the dump again that we will limit the tsunami of immigration that people have more money in their wallets again that the netherlands will be more secure again that health care will be in order again. >> no doubt this election has shake ten political landscape in the netherlands and sent a warning across europe. far right and anti-establishment parties will likely be hopeful that this result could have a bearing on next year's election for the e.u. parliament. a

reasons that china has a fixation about the united states, forget all of the other things with the e.u. and its neighbors in the south china sea and other parts of the world. the united states share much can touch much of the concerns about the pattern of behavior so these are the three things conceptually that both sides have to really agree to in order to make the relationship more healthy and move forward. host: both guests joining us. if you want to ask questions it is democrats, 202-748-8000. republicans, 202-748-8001. independents, 202-748-8002. if you want to text us you can at 202-748-8003. you can post on facebook and x. it was yesterday that president biden address the relationship between oath countries and talked about the issues that you brought up. i want to play what you have -- what he had to say and then get your responses. [video clip] pres. biden: we have very -- we have differences when it comes to beijing when it comes to a level playing field and protecting your intellectual property. we will continue to address them with smart policies and strong diplomacy. we ha

the implication -- certainly the sense here is basically the e.u.return of donald trump that it feels that this is something that it wants to get done now rather than waiting for the election next year. europe is hugely nervous about the return of donald trump potentially at the end of next year and clearly very nervous in a number of different areas. anyway, we will watch that story and see how it develops, see whether we end up seeing progress. it fits into that kissinger view of the world may be. this is bloomberg. ♪ >> equities still mixed. nasdaq getting hit pretty hard. yields higher in yield rolling. abigail is tracking that for us. abigail: that nasdaq loss. the worst day since october. this big month we have had for october or november, big stock gains. a bit of a whimper on the way out. we have small-cap higher. as for the month, a big move. the bigger move than stocks, bonds. i would say bonds. the 10 year yields down 25 basis points, the most on a monthly basis since 2009 but we can outdo that on a worldwide aggregate basis. we are looki

nato has a role to play to help regions to e.u. membership and broaden european stability. nato has provided the security in the western balkans and will continue to do so. the alliance responded to actors who are trying to destabilize northern kosovo deploying additional force. and so this is another critical part of our conversation over the last two days. tonight i'm going to the ministerial council. despite of russia's violations, its efforts to obstruct the work, the 50 other participating states make sure that it fulfills its purpose to advance european security. and we head to israel, the west bank and u.a.e. where in addition to participating, i will have an opportunity to discuss the conflict in gaza. we head back to the region as the humanitarian cause that we helped to qatar and be reunited with their families and surging humanitarian assistance in gaza to make sure they have need to get by. the next couple of days, we will be doing what we can to extend the policy to get more hostages out and more humanitarian assistance in and discuss with israel to achieve its

novo nordisk has already submitted in the e.u. approval for a higher dose version.hey are planning to submit in the u.s. in 2024. it is not as effective as these injectable versions. they are testing doses that are two to three times higher dose than the currently approved version to see if that will help. we could have oral weight loss drug soon from novo nordisk. eli lilly is also developing a pill. so as pfizer and astrazeneca. jon: it is a pretty incredible growing market. you do a great job breaking it down. thanks for the insight. we will continue to track that story. we were also tracking shares of boeing adding a nice pop after a bunch of new orders. we will have those details next. this is bloomberg. ♪ >> every time there is direct dialogue, that is a good thing. we have been in china for 50 years now. we have been with our customers. interestingly, last week, the 95th airplane, the max that was on the ground came back. they have all 95 airplanes flying. we are in the middle of preparing deliveries for the new max's. i am optimistic about the discussions. j

in the e.u. biggest political miscalculation but not career ending as it turning out. >> anna, good to have you with us tonight on the program. what do you make of this appointment? is this david cameron the return or a bit of a nightmare in downing street? it depends on where in the party you sit, doesn't it? >> i think this is rishi sunak making a very strong statement that he is not afraid of taking on the right of his party. he is moving towards the center. showing he's not going to be held hots taj by braverman who was increasingly challenging his authority more and more but is he making too much of a gamble? by bringing in david cameron, he's certainly going to make some part of his party happy. the more traditional conservative seats, particularly now being under threat from liberal democrats will be very ppy to see his return. but he does sit on an uneasy coalition where the red wool seats, for example, the younger intake, the 2019 intake and, of course, the brexiteer wing of the party wh

the e.u. and other western countries have done the same. passage of this legislation today will provide more tools for this and future administrations to hold hamas accountable for its terrorism and routallity. while hamas leaders don't have financial assets in the u.s., new sanctions have been unveiled by the biden administration in recent days that will increase pressure on some of the countries that host them. with this legislation before us, the united states will now be able to penalize third parties who provide assistance to hamas. while we desire to put more pressure on hamas, we want to make certain that american and partner n.g.o.'s and governments are still able to assist the people of gaza and their humanitarian needs. the waiver present in this legislation while strict will allow that assistance to continue. hamas' reign of terror must end. it is our only chance at a lasting peace. i reserve the balance of my time. the speaker pro tempore: the gentleman from illinois reserves. the

>> i will say, i am surprised how quick that you -- the e.u. was doing this.the cases, they kind of made up their mind and concluded in five days. i am very impressed how the e.u. acted on the new l&d story. guy: we will leave it there. fantastic to talk with you. a really useful talk. one other story as well that i wants to flag today, going back to the airlines story, a really upbeat outlook. what they are saying is they continue to see this travel boom continuing into 2024. continuing to upgrade into more expensive seats. what you are getting in the states is a slowdown domestically. what lufthansa is flagging is a continuation of the international story. they see that continuing through this winter. alix: i have to say, i am really surprised that they have the visibility. because there are so many variables at this point that, to bet on the u.s. travel are still going, i'm looking at the euro-dollar, it's not a bad bet. but how you have any visibility in the next couple of months. when do they book? are they late lookers or do they book out? guy: generally

and at least the e.u., yes, they don't have the same definition of free speech, but they have the same political challenges. look at what, you know, facebook has done on several cases. they have blocked information. you know, the chinese government says, we don't want people to know about uyghurs and concentration camps. and if you carry any of that, you know, we may kick you out. well, it's so funny, when their profit model is under attack, they figure out a way to stop information. at the request of governments. so talk about free speech. that's exactly what they're doing. by, you know, giving up, you know, their control in response to government pressure. or what's happening in canada with the announcement about connection with the assassination of a sikh leader and all of that. well, you know, india's basically saying to facebook, you better not report that. and facebook says, ok. but when we say, don't report false election information, don't run deepfake, they say, free speech. and we do have more restraints, but it's not absolute and they know it's not absolute. and the lawyers

opposition, no free press, no free religion, raising babies, human trafficking, committing war crimes, e.us ready for accession negotiations. yes, with corruption in the country everything is also extremely ambiguous. just in the last week, thefts from the budget of the ministry of defense in the amount of 250 million were discovered. and a criminal case against the ex-minister reznikov was never prosecuted, so why kiev and chisinau are being rewarded is, of course , an interesting question, although they are doing this only through negotiations, which, as a potential, could turn out to be a complete disaster. many european politicians, who are already not happy with what the european union has become, are now talking about the failure of ambitious statements. for example, the leader of the french patriots party, florian philippa, said that the desire of the european union. ukraine into its ranks will lead to the death of the organization. according to him, it is very difficult to deny that the goal of the eu, which is service to the united states is the death of europe. the european union

ahhhhhh ahhhhhh ahhhhhh ed: met to have said to be had by privacy crackdown in the e.u.e of personal data that uses to target users with ads. you can't take the data premier platforms and use it in how you target those users with ads. >> there say the data collection the scale of which data has done it across facebook, instagram, and messenger is beyond what consumers have agreed to and takes away their choice. what meda has done is they have operated or they have released this free version, this ad-free version thinking that would satisfy regulators. say, we are giving users a choice. they don't have to have ads. it is sort's's of a khaki lady move on meda -- regulators are not sure that necessarily satisfies them. meta is saying they've had discussions over the course of many months trying to get to a place where they can still operate in europe but it looks a little tenuous right now. caroline: they're saying they've been aware of this paper we simply engaged to arrive at a satisfactory outcome for all parties but that is unjustifiably ignores the robust rogatory proc

the leaders of germany and italy say that they are making progress on finding an agreement on the new e.uscal rules. the fiscal impact limits debt across the area was suspended during the pandemic. with the rules coming back in, governments are looking to make changes to be existing. germany's government has indefinitely suspended the -- on the 2024 budget and that comes after the highest court declared last week. they plan to move 60 billion euros to acclimate fund break fiscal rules. it sets to close on december the 15th. the government could struggled to push through this year. let's dig deeper into what's happening in germany and italy's economy with our panel now. i will start with you. why are the relations between germany and italy so important? >> it is safe to say that oath countries are very relevant when it comes to decision-making on the european level. both are two big economies that are really key for the european union to come to a joint position and also, another reason is trade between the two countries. we have seen that after the outbreak of the covid 19 pandemic when t

the road to e.u. membership we know very well can take years.t is a difficult process but nonetheless it is a first step for ukraine. you talk about the big geopolitical changes that came about in the context of war with russia and this is one of it. remember. in 2022 ukraine applied for membership in the european union but days after the invasion, now the commission says they recommend they finally open talks for accession. provided they complete these reforms. for the country politically also potentially economically and the future, it could be very important. we should stress this is the cornerstone almost of the ukrainian foreign policy. they have made it a priority to answer the european union and nato. to me this also speaks to the policy determination of the head of the european commission, ursula von der leyen. she took a decisive step to make this happen. she has been two ukraine a number of times pushing for this idea that ukraine's places in the european union. this is a first step. this is a recommendation from the european commissio

. >> as a violation of e.u. sanction. >> i'm not going to get into technical sanction questions. i would say we have an obligation as the host. we attend, one of the things about diplomacy, you attend a lot of meetings whose policies you object to and sometimes things they have done, but we have a responsibility to conduct diplomacy on behalf of the united states. >> and second question ahead of the congressional hearing, in terms of the future -- you have azerbaijan celebrating a victory in a town surrounded by russian army. you have armenia bullied by russia every day saying i'm not going to go anywhere. is there a happy ending in your opinion? >> we continue to believe people who have left the area have a right to come home if they wish to do so, a right that should be upheld. >> i asked the other day when you are in asia, and then asked the european desk, and ask you, too. do you consider the occupation -- your allies, turks, occupation or something else. they said to me we believe -- all countries should be respented and protected but they don't say if there is -- if the occ

do what they need to do in order to defend its right to exist without being questioned by the u.n., e.u. or for that matter even the u.s. as we also stay out of a broader war in the middle east ourselves. >> harris: can we talk about the united nations this morning? this morning the u.n. is making the chair people of the human rights department at the u.n. iran. >> it is unbelievable. some of the other members of this human rights council at the u.n., north korea, venezuela rick others. so the u.n. has quickly devolved into a joke of an institution, harris. i have long said it is reasonable for the u.s. to even reconsider our funding or participation in the u.n. years ago when i used to say things like that people said it sounds extreme. what purpose is the u.n. serving versus how is it impeding our own sovereignty or allies like israel today? the secretary general's comments about israel yesterday were shameful. i do think when an institution outlives its purpose we should ask the questions. >> harris: when the comments were made on u.s. soil, we host the so-called neutral ground of th

in his manifesto, he has also spoken about a referendum to remove the netherlands from the e.u.e on a lot of the controversial policies that he had. the other thing to point out is that a lot of the other parties he could potentially form a coalition with do not want to leave the e.u. that is also something important to keep in mind. they will have to come together to agree on a lot of policies. but immigration i think would be something that would be important. guy: why did the dutch vote for him? sarah: well, i think the freedom party has been focused on immigration, and there are three really big reasons for campaign issues -- the rising cost of living, a severe housing shortage in the netherlands. if you remember theoalition that collapsed in july because of infighting over the migration issue -- that theme has stayed in the entire election campaign. yesterday, we saw a lot of parties campaign on the same topic. dear wilder's -- gert wielder -- geert wilders sort of got a leg up because the bvd party refused to rule out partnering with him. that sort of is expected to have h

-e.u. trade and technology council.ountries around the world realize ai is now the foundational technology driving advances that can help solve our most pressuring sharedd challenges in a science and energy and agriculture in education and more my team role is to engage the world in these conversations to synchronize multi- stakeholder approaches on governance, to harness the benefits of ai to mitigate its r risks to do so will always ensuring our innovation ecosystem remains our northstar. we do this with three orienting principles in mind. first it's essential for than it seems to lead as an affirmative for the role of technology in a shared future. we believe in text power to accelerate innovation, to solve major global challenges and support our future prosperity. our affirmative vision is reflected in both our engagements and also in her foreign assistance through programs such as ai connects and other recently announced programs to leverage ai to help reduceee poverty to address eney needs and to improve global pu

-e.u. trade and technology council. countries around the world realize that a.i. is now the foundational technology driving advances that can help solve some of our most pressing shared challenges in science, in energy, in agriculture, in education and more. my team's role is to engage with the world in these conversation, synchronize multistate approach, harness the benefits of a.i., to mitigate its risk, and to do so while ensuring our innovation ecosystem remain ours north star. we do this with three orienting principles in mind. first, it's essential for the united states to lead with an affirmative vision for the role of technology in our shared future. we believe in tech's power to accelerate innovation, to solve major global challenges and to support our future prosperity. our affirmative vision is reflected in both our engagements and also in our foreign assistance through programs such as a.i. connect and other recently announced programs to leverage a.i. to help reduce poverty, to address energy needs, and to improve global public health. by commit regul

the e.u. and others, including japan, are the major partners because they want to defend freedom. i'm concerned about the fact that we haven't acted to send a message to putin, to iran, other despots that we will not shrink from the responsibility of defending freedom here and around the world. this authority, in a microcosm, is to try to give the s.b.a. the opportunity to respond in timely and effective fashions to opportunities that it sees on behalf of small businesses. pilot 7-a loans are provided by s.b.a. to address the development of a specific sector or geographical region based on the agency's identified needs. we can shut everybody down in government. unfortunately, frankly, government's very risk adverse. not as nimble as the private sector. why? because the administrators of all these agencies know that they have got us looking over their shoulder, and if they make a slight mistake, they have an amendment, or they have a hearing, or they have some congressman, or congresswoman who says, gotcha. if the private sector had that, it would be immobilized. it wouldn't happen

reasons that china has a fixation about the united states, forget all of the other things with the e.ud its neighbors in the south china sea and other parts of the world. the united states share much can touch much of the concerns about the pattern of behavior so these are the three things conceptually that both sides have to really agree to in order to make the relationship more healthy and move forward. host: both guests joining us. if you want to ask questions it is democrats, 202-748-8000. republicans, 202-748-8001. independents, 202-748-8002. if you want to text us you can at 202-748-8003. you can post on facebook and x. it was yesterday that president biden address the relationship between oath countries and talked about the issues that you brought up. i want to play what you have -- what he had to say and then get your responses. [video clip] pres. biden: we have very -- we have differences when it comes to beijing when it comes to a level playing field and protecting your intellectual property. we will continue to address them with smart policies and strong diplomacy. we have a

that's most of the e.u.if you went to us a extra yay o ya, belgium, check republic, to france to germany to hungary to ireland to luxembourg, netterlands, slovakia, slovenia to the u.k., any of those they would ask what country did you transit through and did you request asylum before you came in. if you said i didn't request asylum in the places i transited from, they would turn you around because that's not an unreasonable thing. when you go through five other countries and then request asylum in the last one, you're actually trying to immigrate to that country, not requesting asylum under international law. you're trying to pick the place and by the way, i don't blame them for picking america. it's the greatest country in the world. but that's economic opportunity. that's not asylum. so the question is, can we incentivize those individuals to not try to run a loophole through our system but to actually go through the legal process and request to come here as a legal immigrant. we'd love to see people from

i think the markets will have to adjust to that and then there is what pete e.u. is the pain traded? what is it this year? heading into 2024. >> that's a good question. i don't know if this is a pain trade but a lot of people thought the treasury sell off the backend is over and i don't think it is. i think there is a lot of evidence to suggest that term premium is going -- it shot up in september and october and retraced all of that but a lot of that was a function of very aggressive trading and positioning closing out trades. the broader theme here -- if you look the fed calculation term premium, it looked negative from 2018 on in this year, it started coming back into positive territory and now it's back down to zeroish. global central banks are retreating from policies. i think that's structural and i think that will continue. we were talking about germany increasing supplied. there is a supply condition that will only exacerbate terms. could we get to a 10 year back to five or 5.25%? absolutely is one of those cases. the worst is over for the back end of the

and where our allies in nato and the e.u. increase their defense spending and have rapidly diversified their sources of energy, we cannot let up and delay. we need to broaden and tighten sanctions and we need to wake up. the house foreign affairs committee chairman michael mccaul and i collaborated last week for his reoppose to ukrainians act which was marked up out of the foreign affairs committee and this legislation included key provisions from my ukraine reconstruction legislation which carefully takes title to all russian sovereign assets in other countries, collectively pools these funds for filling the budget gap and helping in the reconstruction of ukraine. importantly, this bill uses russian funds, not american taxpayer resources to aid ukraine. it's critical that this legislation comes to the house floor and becomes one step closer to becoming law. failure here, mr. speaker, means a more costly and horrific future. let's heed president kennedy's pledge of nearly six decades ago, by word and by deed, with time and tr

mentally at in the 180 anti-e.u. are looking at 220 or 228.xplanation of if the number comes in blow. lisa: we talk about data dependency and this is a data dependent fed. are we looking at continued acceleration or do you see the signs that would give you pause and the deceleration side? mike: you can make a list of the indicators any come out half and half. some suggest it will go the same pace and others suggest a slowdown. you would expect a slowdown. we used to be worried about whether we would slow to fast now are worried about whether we slow at all. it will be interesting as we have been data dependent fed. we have a lot of indicators and another reporting before the next fed meeting. this will carry out in a lot of ways other than just the market. tom: what is your thought on distribution in of fully employed america? how geographically distributed is this? mike: it's been pretty homogenous generally it is interesting. we did not see a lot of migration. we ask economists of what happens to the idea that america has picked up to move?

is able to anti-e.u. and other major trading partners aligned with u.s.y with regard to china and economic relations as well as tech sharing, it matters more but the u.s. position is because the u.s. position will influences other trading partners. but i think that china is looking that the u.s. political situation and sees lots of potential for things to shift this time next jonathan: year. jonathan:i think that's what we all see. tom just went through a list of things on the calendar for next year that can reshape this relationship and top of mind here of course, the election taking place 12 months from now. tom: the election has got to be there. the debate on the eurasia group. it is going to be bipartisan pylon of china. that the dialogue than the american debate. but my basic thing and it was hilarious over the weekend to see the pitch and the outlook for next year, i don't have an outlook for the s&p. i certainly don't have an outlook for the dow jones industrial average and anyone with an outlook on china is out of their mind. go read a book. jonat

i think that it's in the hands of the world leaders now from the e.u. to the u.s.to take the lead in this. this has been going on for so long. i mean, obama just recently said, and all quote this really quickly, what is true is that there are people right now who are dying who have nothing to do with what ha did. if up to the solve the problem, whe truth.ave to take the you then to have admit none of us hands are clean. host: how would you gauge the reaction of world leaders already in its effectiveness in this situation? caller: yeah, i mean, there's ght?le that are speaking out, from the world leaders standpoint, it'sical to some extent, right? u.s. is saying israel has the to defend themselves. yes, absolutely. buin using, and they're claiming that hamas is the palestinians as the human shield. i that it's a two-way street, right? so i think there's been a long history, but now we need to get these folks to the table, and there needs to be some of the palestinian authority as well as the israeli government, and there needs to be a path forward, right? there need