he said i'm -- tim johnson, from illinois.he said yo ruined my shoe i said you should buy better shoes and in which for me, and then we began looking around so tim johnson was a republican from the district at abraham lincoln represented in springfield. moderate republican, and we're looking around at the members jim and we see the most spirited competition basketball game going on. paddle ball going on. and you know, we said why is it that we can compete so respectfully here but literally you go to the elevator you press two you go on floor of the house. we can't compete like adults with what's going on. so tim johnson formed house center aisle caucus i chose democrats he chose 24 republican and what you meet on a cheap chinese restaurant because everybody loves cheap chinese food in washington, d.c. and here's the real we pick an issue health care we actually brought a kitchen timer set it for five minutes. ready to disagreements at one another -- then 55 minutes what can we grow on it? it was the most liberating experience

president trump canceled the june summit with tim johnson, -- pointing tog-un, anger and hostility. mr. trump: based on the recent statement of north korea, i have decided to terminate the plan summit in singapore on june 12. while many things can happen and a great opportunity lies ahead , i believe this is a tremendous setback for north korea, and indeed, a setback for the world. the decision is likely to have far-reaching geopolitical implications and comes just as trade negotiations with china are in a state of confusion. the u.s. is now investigating if auto imports are a risk to national security and is considering tariffs. joining us now, the former deputy national security adviser for international economic affairs. he is currently the vice president of strategic growth at mastercard. michael, thank you so much. let's talk about north korea. what do you expect to be the business fallout and the fallout for the technology industry more specifically? michael: the challenge is to north korea have been enduring re for several administrations. i think the trump administration is

china is now the first country to be officially visited by tim johnson. -- kim jong-un. coming after years of unusually bad relations attorney the two countries, the summit represented a breakthrough in relations. the dpr press stayed silent on the nuclear issue, were or eight pages dedicated to the summit in a newspaper. privately kim may not --bor friendly feelings although privately, they may not feelings, kimy had something to show. president xi jinping demonstrated that china had traditional ties and an enduring bond with the north and could not be marginalized. between north and south korea, the exchange of performance played a role in the forming of relationships. the same also happened between the north and china. profile artistgh group to visit and conducted performances there. by theup was led international liaison department. highlighted the political mission set for the performers to create a word -- create a warm atmosphere as if nothing had -- as if nothing unpleasant it never happened between the two countries. secondly, that something important what happe

this is an opportunity for us to have peace in the peninsula, but tim johnson decided to continue with his provocation. that this mentioned reflected a deeper understanding of the kim regime. that kimso said jong-un is a murderous desperate and a habitual liar. the president made the right call. laudatory.ere not endez saidb men the cancellation appeared to be the result of a lack of understanding in preparation. caller: hi. i think everyone is very quick to judge president trump and the decision he has made, and i think they are quick to judge kim jong-un. but we have to member there is we have to about -- remember that there is very little we know about that regime and we have a president who likes to grandstand. so we have seen donald trump ran standing about his nobel peace prize, and in response to that, we are seeing some kind of internal pressure emanating from north korea, where kim jong-un feels he needs to put on violent rhetoric in order to protect, i guess, his status as chairman and leader of north korea. i am not sure everyone inside the regime will agree with him. and pe

during that rally, he touted the upcoming summit with tim johnson.ere is what he had to say last thursday. [video clip] singapore, i will be meeting with kim jong-un to pursue a future peace and security for the world, the whole world. [cheers and applause] as the relationship is good. but you remember everyone in the fake news, when they were saying he is going to get us into a nuclear war. he is going to get us into a nuclear war. [booing] and you know what? what gets you nuclear wars and what gets you other wars? weakness. [cheers and applause] andhe relationship is good hopefully for all of us, for the world, hopefully something very good is going to happen, and they understand it is very important for them. it is important to everybody. japan, south korea, china, everybody, i think it will be a very big success. my attitude is -- if it isn't, it is not. if it isn't it isn't, but you have to have that. you do not know. times todayw york in their reporting noting that while president trump has raised expectations for a breakthrough with mr. kim, o

ahead on "bloomberg best," exclusive conversations with wells fargo ceo tim sloan, dallas fed president kaplan, and boris johnsonbefore that, more of the week's top business headlines. congress rolling back some dodd frank banking regulations. >> what this bill does is an entirely unnecessary gift to the larger bank. david: this is bloomberg. ♪ david: this is "bloomberg best." i am david ingles. let's continue with the result of a controversial presidential election in south america. >> more of the same in venezuela. president nicolas maduro won reelection with 68% of the vote, boycotted by the opposition and condemned by the united states and other nations. it was widely expected, it was a widely expected outcome, but mostly about voter turnout, and who came out to vote, will this legitimize the election? what happened? >> on the streets yesterday, we saw a very scant crowd. there was none of the ruckus, the masses we have seen in years past. the participation levels were the lowest we have seen in decades. it is just now further legitimizes his hold on power, more so to the opposition here, and the internation

johnson. >> seth waxman, elise jordan and tim o'brien, elise, to you first, the white house has been sayinger a week, look at us, look at us moving forward on prison reform. this is jared -- this is jared kushner sort of shining moment, bipartisanship, this is extraordinary. and the person the president pardons is an alt right personality. are you kidding me? >> well, i was actually heartened yesterday that trump mentioning sentencing reform in a tweet about his meeting with kim kardashian. so i thought maybe kim kardashian is the way that we're going to get criminal justice reform. that's the kind of celebrity donald trump respects. and then now, instead of pardoning a 63-year-old great-grandmother who's already served 21 years for a nonviolent drug offense, you get d'souza who broke the law. he did campaign straw donations and broke the law. he didn't even go to prison. he hasn't suffered that great of consequences for breaking the law. this just really to me speaks only to donald trump wanting to show and demonstrate that he's happy to exercise his power of the pardon. >> we have to make

. >> help usnderstand more about who jack johnson was, how he ,ived his life in those tim and how that sort of fit into his times. >> you can't believe that he wasn't assassinated. hireign from the mid aughts to 1915 was a time when more african-americans were lynched for looking sideways at a white woman, more often than not. the fact he survived in his lifestyle and the atus he carried in his sport, the term the great white hope is when he won on boxing day in 1908, every white contender went after him, he beat them all, and on july 4 he beat the biggest, retired star jim jeffries who had never been defeated, knocked him out in reno, nv nevada, and there were white-on-black riots tha killed a lot of african-americans throughout the country with a white race terrified this had some larger symbolism other than a man who, all hi, just wanted to be a man, and wasn't in migh anybos cause, didn't want to be a civil rights lea >> talk more about that that he did not see himself as a leader of a movement and compae him jackie robinson or mohamed ali. >> jackie robinson is the one who comes t

tim phillips. what have you fixed in the latest round of legislation to make sure it gets through the senate this time? >> the senate passed a voice version of senator ron johnson'sa benchmark. what we're saying to them this, is common sense measure that can save americans lives. it is not political. let's get this done. show the american people you can do it. we have add-on to shine the light. pressure them to do the right thing here. stuart: did you fix the liability problem, the lawyer problem? because if you take a drug and it doesn't work and you die, the lawyers are on you like a ton of bricks and they will sue everybody, and anything, have you fixed that? >> we actually have, at the state level there has been legislation that we've been on the issue for many years, stuart. at the state level, multiple states passed right to try legislation that has withstood legal scrutiny from trial lawyers that want to take advantage of it. we are confident in that based on the track record at the state level. this is ready for the federal level. the senate passed a version by voice vote. the house passed a different version. folks in both parties, let's get together to