Joe Mathieu

We did hear from House Speaker Mike Johnson in an interview this morning saying that there might be some negotiating room, but that would have to happen after a funding bill is passed since the tax credits are going to expire by the end of the year.

Well, sticking with this idea that higher drug costs are a main point, a political point on both sides of the aisle, I also want to ask you about some of the economic impacts here of a potential shutdown.

You said, of course, on House Fin Services, our analysts at Bloomberg Economics estimate that the unemployment rate could reach 4.7 percent in a shutdown.

I'm wondering if

Are the optics going to be difficult to navigate here considering there's already concerns about the labor market?

How are Republicans going to message around this when we know that economic impacts could really be one of those top concerns and priorities?

Well, we heard from President Trump this morning saying that there could be, quote, a lot, in his words, of firings amid this shutdown.

We know the OMB was circulating this memo threatening permanent layoffs.

Do you agree with this as what seems to be emerging as a negotiating tactic between the White House and Democrats on the Hill?

All right.

Republican Congressman Mike Lawler of New York, thank you so much for joining us here on Bloomberg Television and Radio Today.

Joining us now as we widen the lens on this whole story involving NVIDIA export controls and on a greater scale, U.S.-China relations is Nicholas Burns, the former U.S.

ambassador to China in the Biden administration, professor at Harvard's Belfer Center.

Mr. Ambassador, welcome back to Bloomberg TV and radio.

It's great to have you.

It seems all roads lead to China.

We're talking about Nvidia or new tariffs on India.

So let's start where we're already talking, and that's export controls and this idea of Nvidia opening once again a new market in China.

There's even reporting today that Nvidia is talking about a Blackwell chip that might be available soon.

scaled down version for the China market, but there's still no deal.