Latest / Trumponomics / Managing the News in the Age of Trump

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Managing the News in the Age of Trump · Trumponomics

• 0:02
  Speaker 1: Bloomberg Audio Studios, podcasts, radio news. I think the best
• 0:09
  Speaker 1: way of characterizing this administration it is essentially the kind
• 0:12
  Speaker 1: of monetization of US hegemony. The left polite way is
• 0:16
  Speaker 1: something about a mafioso shakedown.
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  Speaker 2: I'm Stephanie Flanders, head of Government and Economics at Bloomberg,
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  Speaker 2: and this is Trumpanomics, the podcast that looks at the
• 0:34
  Speaker 2: economic world of Donald Trump, how he's already shaped the
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  Speaker 2: global economy and what on earth is going to happen next.
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  Speaker 2: This week, well, we're widening the lens a bit because
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  Speaker 2: I just had a fascinating conversation i'd like to share
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  Speaker 2: with you. The occasion was Bloomberg's second Women, Money and
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  Speaker 2: Power event in London, and the conversation was with Alessandra Galoni,
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  Speaker 2: the editor in chief of Reuter's News Agency, and Zanni Mintembadows,
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  Speaker 2: editor in chief of The Economist. The title of our
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  Speaker 2: session was reporting on money and Power in the current moment,
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  Speaker 2: and there was plenty of Trump andomics in the mix.
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  Speaker 2: But what you'll also hear is how all three of
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  Speaker 2: us have been grappling with not just the sheer volume
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  Speaker 2: of news coming out of Washington, but also the Trump
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  Speaker 2: administration's aggressive approach to handling the media. We see that
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  Speaker 2: obviously in the Jimmy Kimmel saga and the many lawsuits
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  Speaker 2: the President has filed against the New York Times, the
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  Speaker 2: Wall Street Journal, most of the traditional US news networks.
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  Speaker 2: But it's also something we've been living with behind the
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  Speaker 2: scenes since the White House took control of the White
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  Speaker 2: House Press Pool and dramatically cut the mainstream media's regular
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  Speaker 2: access to the president. So yes, it's a little bit
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  Speaker 2: more introspective than our usual discussions on Trump andomics. But
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  Speaker 2: like it or not, Donald Trump is leaving his mark
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  Speaker 2: on journalism as well as the global economy, and sitting
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  Speaker 2: at the helm of these two major news organizations, Zanni
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  Speaker 2: and Alessandra have a bird's eye view of both. I
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  Speaker 2: started by asking Alessandra eight months in how this Trump
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  Speaker 2: administration had changed the way Reuters did its job.
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  Speaker 3: I think there's sort of two buckets, right, there's what
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  Speaker 3: you have to do journalistically, and then instead of how
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  Speaker 3: you go about it and navigate some of the new
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  Speaker 3: rules that have come in journalistically, I think, you know,
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  Speaker 3: the bottom line is sort of a back to the future.
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  Speaker 3: You do what we always do, which is you report
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  Speaker 3: this administration. And what we try to do is we
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  Speaker 3: try to report what matters, you know, what the real
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  Speaker 3: effects of the executive orders are, or what the real
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  Speaker 3: effects of changes in policy new laws are. So for example,
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  Speaker 3: just yesterday, we had a story that looked at how
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  Speaker 3: prosecutions for drug abuse, or for money laundering, or for
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  Speaker 3: crime financial crimes that used to be prosecuted a lot
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  Speaker 3: in the US have now sort of given way to
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  Speaker 3: deportations because so much attention of the Trump administration is
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  Speaker 3: focused on deportations that a lot of the same sort
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  Speaker 3: of prosecutors and officers who are focusing on one type
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  Speaker 3: of crime are now focusing on what Trump classifies as
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  Speaker 3: another type of crime. So again, what flows from changes
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  Speaker 3: in policy. That's just one example. I mean this there's
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  Speaker 3: worth perhaps mentioning a few of the restrictions that we've had.
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  Speaker 3: The new one is on the Pentagon reporting, which all
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  Speaker 3: of us have, which is that there's a new rule
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  Speaker 3: now or a new request for all journalists who cover
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  Speaker 3: the Pentagon to sign a piece of paper saying that
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  Speaker 3: that essentially we wouldn't publish something that could be in
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  Speaker 3: a security interest of the of the US, you know,
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  Speaker 3: without checking with the Pentagon first. Essentially, now, of course
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  Speaker 3: that is something that we can't do right, and that
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  Speaker 3: is something that I think, you know, to my knowledge,
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  Speaker 3: virtually nobody has signed this right and you faced the
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  Speaker 3: same thing. And so we're you know, talking to the
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  Speaker 3: administration about how we can change this. And interestingly, what
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  Speaker 3: we understand is that it's actually aimed more at people
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  Speaker 3: work in the Pentagon to avoid them from leaking. And
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  Speaker 3: of course leaks also have been sort of more kind
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  Speaker 3: of criminalized with a criminalization of what the administration would
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  Speaker 3: call leaks. So I think on the reporting side, we
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  Speaker 3: keep reporting on the news, trying to you know, understand
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  Speaker 3: what is going on, and then sort of try to
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  Speaker 3: convince the administration that, you know, First Amendment press freedom
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  Speaker 3: is something important for everyone no matter where you operate
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  Speaker 3: in the US or in our case, in all the
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  Speaker 3: two hundred other countries where we work.
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  Speaker 2: And I mean as why and news services obviously Router's
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  Speaker 2: and Bloomberg have been affected by just taking what taking
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  Speaker 2: the wires out of the Oval office. As a matter
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  Speaker 2: of course, off the plane, there was always a wire
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  Speaker 2: journalist previously on the plane, or more than one. There's
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  Speaker 2: just a consistent sort of lack of people to ask
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  Speaker 2: questions or questions that aren't along the lines of mister president,
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  Speaker 2: how do you look so healthy and so much younger
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  Speaker 2: than in your previous administration. But I mean, Zami, you're
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  Speaker 2: in a slightly different position with the economists, but I
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  Speaker 2: know obviously you have much the same journalistic mission. How
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  Speaker 2: are you dealing with the different aproach that this administration has?
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  Speaker 1: You know, what we do is to join the dots
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  Speaker 1: between geopolitics, business technology to help our readers understand where
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  Speaker 1: the world is going. And that mission is exactly the
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  Speaker 1: same as it always has been, and the Trump administration
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  Speaker 1: changed our framework because the Trump's administration is so dominant
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  Speaker 1: in pretty much every global story. And so for me,
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  Speaker 1: one of the things that has changed is that I
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  Speaker 1: spend a lot of time making sure that we differentiate
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  Speaker 1: between the signal and the noise. If you're not careful,
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  Speaker 1: every story about every part of the world could start
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  Speaker 1: with the reference to Donald Trump. And so I spend
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  Speaker 1: quite a lot of time, either literally or at least figuratively,
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  Speaker 1: crossing out first paragraphs that mentioned Trump too much. It
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  Speaker 1: would be incredibly boring if you had every single story
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  Speaker 1: framed in a Trump way. Differentiating the signal from the
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  Speaker 1: noise also means, you know, not suffering from Trump derangement
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  Speaker 1: syndrome and being fair minded about the way you cover
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  Speaker 1: this administration. We have a lot of Republican readers, we
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  Speaker 1: have a lot of Trump administration people read US, and
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  Speaker 1: indeed trumpions read us. And I think it's very important
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  Speaker 1: that even people who don't share the economist's world view.
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  Speaker 1: We believe in liberal values. We were founded to champion them.
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  Speaker 1: They drive what we do. But I feel very strongly
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  Speaker 1: that even people who do not share that view should
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  Speaker 1: find our journalism useful, and so we need to be rigorous,
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  Speaker 1: fact based. We need to really go the extra mile
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  Speaker 1: to make sure we are fair minded in our analysis.
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  Speaker 1: And that's that's doubly important at this moment in terms
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  Speaker 1: of the kind of way we deal with it. I mean,
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  Speaker 1: of course, things have changed for us too. All my
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  Speaker 1: non American journalists when they go to the US now,
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  Speaker 1: including the carrier, I think it's a G twenty nine form.
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  Speaker 1: It's a form that if you are stopped by the
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  Speaker 1: customer border control, you sign it. I'm sure you have
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  Speaker 1: it too, and they have to call our lawyer in
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  Speaker 1: the US. I look at my phone before I go.
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  Speaker 1: I scrub my phone to make sure that just in case.
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  Speaker 3: I have to say.
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  Speaker 1: I've gone to the US every week this month, and
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  Speaker 1: I've sailed in and I have global entry.
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  Speaker 2: And it's also you're not well known. Feel scerless posts exactly.
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  Speaker 1: But I just think it's prudent, and that is a
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  Speaker 1: weird feeling. I've been to China many, many times, and
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  Speaker 1: I have never scrubbed my phone. I've taken a burner computer,
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  Speaker 1: so for there are different behaviors that I do there.
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  Speaker 1: But so the environment has changed, undoubtedly. It's a long
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  Speaker 1: answer to your question, but it makes me value our
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  Speaker 1: independence more. This sound incredibly pretentious, and I don't mean
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  Speaker 1: it to be, but I think we should all be thinking,
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  Speaker 1: not just about the hearing now, but how are our
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  Speaker 1: successors going to look at what we did. Did we
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  Speaker 1: go overboard with Trump derangement syndrome or did we normalize
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  Speaker 1: totally non normal behavior and fail to raise enough red
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  Speaker 1: flags about what is potentially happening to American democracy? And
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  Speaker 1: I think the balance between those two is what I'm
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  Speaker 1: figuring out.
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  Speaker 2: I think we do find that the White House team,
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  Speaker 2: particularly I think is having to use it thesaurus very
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  Speaker 2: often on different words for unprecedented. That's the way you
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  Speaker 2: put it in perspective and don't normalize it while still
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  Speaker 2: reporting it. Just to come back on you, Sanny, because
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  Speaker 2: I was dropped by this a couple of weeks ago.
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  Speaker 2: There's a version of Trump derangement syndrome when one's thinking
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  Speaker 2: about global affairs and global events, and I was struck
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  Speaker 2: the Shanghai Summit and then the parade in China. A
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  Speaker 2: lot of the coverage saw everything that was happening in
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  Speaker 2: Beijing as a response to Trump, and indeed India Prime
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  Speaker 2: Minister Modis going to China, all of that as being
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  Speaker 2: entirely a response to what Donald Trump had done and
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  Speaker 2: the trade wars and other things, which in many ways
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  Speaker 2: was true, or at least was one way of looking
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  Speaker 2: at it. But there was another way, which I got
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  Speaker 2: from talking to my Indian colleagues and our geoeconomics analyst
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  Speaker 2: in India, that it was entirely in line with Prime
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  Speaker 2: Minister Modi's own objectives. He needed to have a relationship
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  Speaker 2: with China because it's a key part of his manufacturing
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  Speaker 2: domestic manufacturing agenda that he needed access to these inputs
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  Speaker 2: from China, and we could show how many inputs he
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  Speaker 2: relied on, etcetera, etcetera. It struck me that was true
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  Speaker 2: for almost every country there that you could also just
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  Speaker 2: redescribe what they were doing as not putting two fingers
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  Speaker 2: up to Donald Trump, but pursuing their national interests in
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  Speaker 2: a world in which the US has to some extense
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  Speaker 2: step back. So how do you guard against that? That's
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  Speaker 2: an aspect of the same issue.
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  Speaker 1: Yeah, I think you're absolutely right. That's a sort of
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  Speaker 1: another way of framing the too much focus on Trump.
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  Speaker 1: I think two ways. Firstly, you know, what is happening
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  Speaker 1: right now is a period of extraordinary uncertainty because we've
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  Speaker 1: got at least three massive great shifts going on in
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  Speaker 1: the world economy. One is the geopolitical shift, which is
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  Speaker 1: driven in part by the administration, but was also starting
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  Speaker 1: long before the rise of China, you know, the kind
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  Speaker 1: of authoritarian axis. There were big shifts going on before
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  Speaker 1: the Trump administration. Secondly, the huge economic shift, which again
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  Speaker 1: predated the sort of I'm afraid the sort of end
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  Speaker 1: of the unfashionability of the worldview of the economists started
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  Speaker 1: long before Donald Trump became president. But he's taken it
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  Speaker 1: a step further with massive protectionist turn. And then the
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  Speaker 1: third one is the technological revolution who wins the AI race.
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  Speaker 1: And all three of those are driving the world, and
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  Speaker 1: all three of those are driving what Prime Minister Moodia
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  Speaker 1: is doing, or Brazil is doing, or any country doing.
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  Speaker 1: And so you're right, if you only think of this
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  Speaker 1: through the prism of the US and through Trump, you're
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  Speaker 1: missing something. And once that for this, I think the
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  Speaker 1: US is what you'll know down exactly. I think there's
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  Speaker 1: a sixteen percent of global trade. It's a relatively small proportion.
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  Speaker 1: It's of course it's dominant in global finance, but that
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  Speaker 1: suggests that a lot of what is going on is
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  Speaker 1: actually external to the United States, and so we have
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  Speaker 1: to absolutely make sure that we don't overemphasize the impact
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  Speaker 1: of this hyperactive and of course extremely important administration.
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  Speaker 3: I completely agree. I think nobody doubts that US administration
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  Speaker 3: is important. And what has been happening where this is
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  Speaker 3: like global trade, you know, geopolitics is no question something
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  Speaker 3: that we need to cover. But the risk is if
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  Speaker 3: we only cover it from the vantage point of the US,
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  Speaker 3: we miss what's actually happening in other countries, and we
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  Speaker 3: may find ourselves, to your point, about ten years from now,
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  Speaker 3: twenty years from now or more, we may miss the
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  Speaker 3: applical shifts in places like China and India because we've
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  Speaker 3: only been focusing on them as a result of the
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  Speaker 3: US administration. And then equally, this accounts on one of
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  Speaker 3: the key thing for journalists is to be open minded.
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  Speaker 3: You have to be open to the possibility that your ideas,
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  Speaker 3: your original idea, your original hypothesis, is wrong. And I
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  Speaker 3: think that the mainstream press as we sometimes we're called,
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  Speaker 3: has a certain view of this administration, and we you
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  Speaker 3: need to be open to the possibility that the US
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  Speaker 3: economy is not going to collapse because of what is happening,
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  Speaker 3: because that inflation is not going to be what people
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  Speaker 3: feared because of the tariff policy. That you know, the
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  Speaker 3: institutions of the state of law, the institutions in the
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  Speaker 3: US will not collapse necessarily, that they're strong and that
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  Speaker 3: they will last some of the attacks, right, I mean,
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  Speaker 3: I mentioned before in passing some of the new Attorney
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  Speaker 3: General's rules on against sort of leaks, you know, leaks
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  Speaker 3: by journalists. Well you know what actually what it reversed
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  Speaker 3: was a policy of the Biden administration. It went back
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  Speaker 3: to a policy of the administration visa you journalists, and
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  Speaker 3: so I think everybody was ready. So even though we
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  Speaker 3: are there in the rooms and we are fighting for
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  Speaker 3: press breedo, and we also have to put it into
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  Speaker 3: context right and not criminalize everything that is done by
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  Speaker 3: this administration while standing firm to fact check everything that
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  Speaker 3: is said.
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  Speaker 2: I want to do a bit more on the economics,
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  Speaker 2: not least because this is going to be getting out
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  Speaker 2: of my Trumpnomics podcast, which you can get anyway. I
• 12:34
  Speaker 2: can't speak about de arrangement syndrome on the name of
• 12:36
  Speaker 2: the name of the podcast. I think the closest thing
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  Speaker 2: to a consistent principle of trump Noomics as it's applied
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  Speaker 2: globally has been that the rest of the world should
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  Speaker 2: just pay for stuff that previously it got quote unquotes
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  Speaker 2: for free from the US, whether that's reserve, currency, security umbrella,
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  Speaker 2: a certain kind of global order. And I think the
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  Speaker 2: assumps at the beginning of the year might have been
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  Speaker 2: that countries were going to push back a bit more
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  Speaker 2: than they have. Have you been surprised any by how
• 13:07
  Speaker 2: effective the administration has been short term at dividing and ruling.
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  Speaker 1: So, first of all, I think your characterization is spot on.
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  Speaker 1: I think the best way of characterizing this administration, and
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  Speaker 1: people have over the last few months have talked about
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  Speaker 1: is it is it isolationist? Is it great power series?
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  Speaker 1: It's not. It is Essentially the polite way is a
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  Speaker 1: kind of monetization of US hegemony. The less polite way
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  Speaker 1: is something about a mafioso shakedown. And you can you
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  Speaker 1: can take your pick which one you want to use,
• 13:36
  Speaker 1: but that really is the common thread that goes through
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  Speaker 1: all of the administration's international economic actions. I'm struck. If
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  Speaker 1: you'd said to me in March, you know, just before
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  Speaker 1: Liberation Day, and you'd said me, the Trump administration is
• 13:50
  Speaker 1: going to increase America's effective tariff from around two percent
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  Speaker 1: to about nineteen percent, and it's going to have fifty
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  Speaker 1: percent taffs some countries like India and thirty five percent
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  Speaker 1: on Canada, I would have said, the odds are we
• 14:01
  Speaker 1: are going to go into some kind of nineteen thirties
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  Speaker 1: style tit for tat trade war. There's going to be retaliation,
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  Speaker 1: And actually you're right. The surprising thing is that two
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  Speaker 1: things happened. Ju Jinping retaliated and America caved very clearly.
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  Speaker 1: Trump realized that he couldn't win that, and then the
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  Speaker 1: other countries have essentially all tried to strike deals, and
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  Speaker 1: what we haven't had is a kind of collective we're
• 14:24
  Speaker 1: standing up to this. And so in the short term,
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  Speaker 1: you're right, it's been quite successful. I actually don't. I'm
• 14:30
  Speaker 1: not at all sure it's going to be successful in
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  Speaker 1: the medium term, because I think, firstly, America loses out.
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  Speaker 1: I mean, I'm a card carrying free trader, and I
• 14:38
  Speaker 1: believe that the country that imposes tariffs does lose out,
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  Speaker 1: the consumer does pay. It's not good for American competitiveness,
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  Speaker 1: and although it may not cause an inflation problem in
• 14:46
  Speaker 1: the short term, in the long term this is bad
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  Speaker 1: for the United States. And therefore, I think the rest
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  Speaker 1: of the world has shown very clearly that it does
• 14:52
  Speaker 1: have no intention of going down this route, and so
• 14:55
  Speaker 1: you will see greater coordination between different regional trees GA
• 15:00
  Speaker 1: agreements that I actually think. I mean, it won't be
• 15:02
  Speaker 1: the WTO, it won't be the old system, but you
• 15:04
  Speaker 1: will have something that resembles a rules based trading system,
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  Speaker 1: increasingly excluding the US, and that is not good for
• 15:10
  Speaker 1: the US and the medium.
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  Speaker 3: The system has worked. Ultimately, what you're saying is that
• 15:14
  Speaker 3: global trade to a certain extent has worked because we've
• 15:17
  Speaker 3: seen the deals that have been struck. You know, it
• 15:20
  Speaker 3: has been a huge overhaul of the system. But we
• 15:22
  Speaker 3: thought that there would be more of a dismantling.
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  Speaker 1: I mean, we have to say we have I think
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  Speaker 1: it is a new system, but I think that it
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  Speaker 1: is there. We will see a limit to the ability
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  Speaker 1: even of the US. That's shakedown. That's where countries over
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  Speaker 1: the medium term. I think this is the height of
• 15:39
  Speaker 1: the shakedown ability.
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  Speaker 3: And China was and China, as you say, was the one.
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  Speaker 3: There was no way that you could push further with China,
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  Speaker 3: and that's why you're backtracked.
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  Speaker 2: Well, and there's any points out there's more than eighty
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  Speaker 2: percent of global trade.
• 15:50
  Speaker 1: Shameless self promotion. Since this is going to be on
• 15:52
  Speaker 1: your conference RESI is that, as you may know, next
• 15:56
  Speaker 1: week we're launching the Economist inside US series of video
• 15:59
  Speaker 1: shows on there'll be specialist ones and I will co
• 16:02
  Speaker 1: host a weekly one, but the first episode will be
• 16:04
  Speaker 1: along this track, and as part of it, I am
• 16:07
  Speaker 1: I have an interesting conversation with Prime Minister Mark Carney
• 16:09
  Speaker 1: on precisely this topic, so you should listen.
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  Speaker 2: To it right, watch the space.
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  Speaker 3: The other thing I think we should not forget is
• 16:16
  Speaker 3: that a lot of Trump's policies that are ostensibly about economics,
• 16:20
  Speaker 3: or sensibly about global trade, or or are actually about
• 16:24
  Speaker 3: getting something else in the geopolitical sphere in that his
• 16:27
  Speaker 3: linkage policy is very strong.
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  Speaker 2: So I will what the king.
• 16:31
  Speaker 1: Feels like exactly the court exact king, and the king
• 16:34
  Speaker 1: likes you, so that then you're going to stop, you know,
• 16:38
  Speaker 1: sign a piece deal, right.
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  Speaker 2: Alessandra, do actually think in this environment? I think we've
• 16:42
  Speaker 2: all agreed that there's a kind of short term getting
• 16:45
  Speaker 2: along with the US, but long term a real erosion
• 16:48
  Speaker 2: of US position and potentially a vacuum into which other
• 16:52
  Speaker 2: countries will move in. Do you think there's any scope
• 16:55
  Speaker 2: for Europe to step up in this environment? And there's
• 16:57
  Speaker 2: a lot of pressure.
• 16:59
  Speaker 3: I mean, there's certainly scope. There's a big question as
• 17:02
  Speaker 3: to whether as to whether Europe will. But I think
• 17:04
  Speaker 3: another point, and I know we reached the end that
• 17:06
  Speaker 3: I that I think we also shouldn't forget recently, actually
• 17:10
  Speaker 3: we were in the room together when we were talking
• 17:13
  Speaker 3: to the former head of I six, I think at
• 17:14
  Speaker 3: Davos in January, and one of the things that this
• 17:17
  Speaker 3: was that was all right, well, what I'm about to
• 17:20
  Speaker 3: say is pretty thank you.
• 17:24
  Speaker 1: From and among friends.
• 17:26
  Speaker 3: No. But one of the things that I thought was
• 17:28
  Speaker 3: very interesting is how much of an emphasis he put
• 17:31
  Speaker 3: on the fact that leave aside the heads of these
• 17:35
  Speaker 3: or the organizations, you know, the top organizations of the
• 17:38
  Speaker 3: US and of the UK, but that a lot of
• 17:40
  Speaker 3: the work is done at the second and third level,
• 17:42
  Speaker 3: and a lot of the relations and he was talking
• 17:44
  Speaker 3: about about security, but you could extend this to many
• 17:48
  Speaker 3: other areas is actually done not at the top levels,
• 17:53
  Speaker 3: and that the coordination and collaboration still goes on. And
• 17:57
  Speaker 3: I was really struck by that because it's suggested to
• 18:00
  Speaker 3: me that you know, administrations come and go, and they
• 18:02
  Speaker 3: are important, and this administration may lead to another same administration.
• 18:06
  Speaker 3: We just don't know what's going to happen, right, But
• 18:08
  Speaker 3: that actually between countries and among countries, a lot of
• 18:11
  Speaker 3: the work that and that holds policies together is still
• 18:15
  Speaker 3: still good.
• 18:16
  Speaker 2: And that is that is actually a lot of the
• 18:17
  Speaker 2: concerns were pretty much run out of time. But I
• 18:19
  Speaker 2: do want to just because you are also leaders of
• 18:22
  Speaker 2: people and managers of people, and this is a pretty fractious,
• 18:27
  Speaker 2: often emotive journalistic environment for particularly reporters in the US
• 18:34
  Speaker 2: to navigate, and we've seen that in spades over the
• 18:36
  Speaker 2: last few weeks. So I just wondered both of you,
• 18:39
  Speaker 2: how much are you how much have you had to
• 18:41
  Speaker 2: think about that? Have you had issues with people either
• 18:44
  Speaker 2: with burnout or just people struggling to sort of hold
• 18:48
  Speaker 2: that line because you both stand for objective, rigorous reporting.
• 18:53
  Speaker 1: The answer is it is people feel very very strongly
• 18:56
  Speaker 1: about what's going on. I think we benefit from being
• 18:59
  Speaker 1: we don't have to you know, we do different kinds
• 19:02
  Speaker 1: of journalism to you too, so we have the time
• 19:05
  Speaker 1: to discuss and debate. And what's most important to me
• 19:09
  Speaker 1: is that people feel their voices are heard. And so
• 19:11
  Speaker 1: we have lots of discussions about a lot of these subjects,
• 19:14
  Speaker 1: and we may end up often with leader lines that
• 19:17
  Speaker 1: perhaps I'm fairly sure some of my team don't agree with,
• 19:20
  Speaker 1: but as long as they've had their voices heard, and
• 19:23
  Speaker 1: I think it's people. I mean, I can speak for
• 19:26
  Speaker 1: my colleagues. They have been extraordinary in their sort of
• 19:29
  Speaker 1: professionalism and the way that they have risen to the challenge.
• 19:32
  Speaker 1: They understand that our role is to make sense of
• 19:35
  Speaker 1: what is happening, explain it to our readers around the world,
• 19:38
  Speaker 1: never never compromise on our underlying values. We are a
• 19:41
  Speaker 1: liberal newspaper, classic English liberalism. We proudly champion that. But
• 19:45
  Speaker 1: you can do that and at the same time have
• 19:47
  Speaker 1: fair minded journalism that distinguishes between the signal and the noise,
• 19:50
  Speaker 1: and I think everyone is completely on board with that.
• 19:53
  Speaker 3: We have a slightly different situation. You know, we're obviously
• 19:55
  Speaker 3: on the sharp edge of a lot of what happens
• 19:58
  Speaker 3: in the world, and including in conflict. We've been talking
• 20:00
  Speaker 3: about economics, but you know, we have the other half
• 20:03
  Speaker 3: of our newsroom, you know, is in war zones. We
• 20:06
  Speaker 3: have many people in Ukraine, I mean, on battlefields around
• 20:10
  Speaker 3: the world. So for us, there's a real imperative to
• 20:13
  Speaker 3: keep our people safe physically all the time, and that
• 20:16
  Speaker 3: is becoming increasingly difficult. I mean, I mean it's no
• 20:20
  Speaker 3: secret I've been in this job as EIC for four
• 20:22
  Speaker 3: years and we've lost four journalists. So, you know, in conflict,
• 20:26
  Speaker 3: so the physical remains very, very important because there are
• 20:29
  Speaker 3: a lot of actual kinetic situations on the ground. But
• 20:32
  Speaker 3: to your point, which is more sort of the emotional
• 20:35
  Speaker 3: aspect of it. No, it's very real. I mean, our
• 20:37
  Speaker 3: journalists in the US are feeling the same sort of
• 20:40
  Speaker 3: pressures that many of our journalists and other countries feel.
• 20:43
  Speaker 3: And so, you know, we do a lot of hostile
• 20:45
  Speaker 3: environment courses. Those are mainly for physical protection, but increasingly
• 20:49
  Speaker 3: we use a lot of mental health protection and how
• 20:51
  Speaker 3: to protect your mental health, how to keep yourself safe
• 20:54
  Speaker 3: scrubbing your phone, you know, digitally. And we have introduced many,
• 20:58
  Speaker 3: many more sessions on hostile environment writ large in the
• 21:03
  Speaker 3: US than we ever could have imagined.
• 21:05
  Speaker 1: We are.
• 21:05
  Speaker 2: We're rolling out trainings that we've never before done in
• 21:08
  Speaker 2: the US. And to your point, people who are in
• 21:10
  Speaker 2: the Washington Bureau who have come from Latin American countries
• 21:14
  Speaker 2: and others that are finding this much more familiar territory. Okay, final,
• 21:17
  Speaker 2: very quick question. We've none of us managed to get
• 21:19
  Speaker 2: sued our organization so far by the administration. Will you
• 21:23
  Speaker 2: be a little bit embarrassed if you're not by the
• 21:25
  Speaker 2: end of the administration.
• 21:28
  Speaker 1: No, genuinely, don't think about it. I will be embarrassed
• 21:33
  Speaker 1: if we haven't done the best possible coverage, and that
• 21:35
  Speaker 1: is if that leads to us being sued, so being yeah, are.
• 21:40
  Speaker 2: You exciting our general council firing.
• 21:42
  Speaker 3: Up our general councils? You know have plenty of work
• 21:45
  Speaker 3: to do with all the investigations that we do and
• 21:47
  Speaker 3: all of the countries we operate in, so I think
• 21:50
  Speaker 3: they've got plenty to handle.
• 21:52
  Speaker 2: Alessandro Zani, thank you so much for Davis. Thanks for
• 22:07
  Speaker 2: listening to Trumpnomics from Bloomberg. It was hosted by me
• 22:10
  Speaker 2: Stephanie Flanders, and I was in a conversation with the
• 22:13
  Speaker 2: Reuters editor in chief Alessandra Galonni and the Economists editor
• 22:17
  Speaker 2: in chief Zanni Minton Beadows. Trumponomics was produced by Summer,
• 22:25
  Speaker 2: Sadi and Moses and and special thanks this week to
• 22:28
  Speaker 2: the organizers of the Women, Money and Power event at
• 22:31
  Speaker 2: Bloomberg's headquarters in London. Sound design was by Blake Maples
• 22:36
  Speaker 2: and Kelly Gary and Amy Keene is our executive producer.
• 22:40
  Speaker 2: Sage Bowman is Bloomberg's head of Podcasts. To help others
• 22:44
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• 22:46
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