Bloomberg's Adragna on Emissions, Wayne on Trump Staff (Audio)

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I'm Charlie Pellett. That's a Bloomberg Business flat. You're listening to taking stock with Bim Box and Kathleen Hayes on Bloomberg Radio, titened greenhouse gas emission standards fuel economy standards that are tighter as well. That's what medium and heavy duty trucks are facing now according to new regulations released on August sixteenth. It's one of the last major environmental

regulations under the Obama administration. Watching this very closely. UH companies like Caterpillar, Cummins, Diamond Trucks North America, and Volvo Group North America here to tell us about the regulation, what it's going to do, and what it does mean

for the businesses that it impacts. As Anthony A. Dragna, he's Capitol Hill environmental reporter for Bloomberg bi Na based in Arlington, Virginia, and of course Bloomberg Bienna as a Holy owned subsidiary Bloomberg, and it's a leading source of legal, regulatory and business information for professionals. So Anthony, first of all, what is this regulation? How much tighter are the emission

standards gonna get? So that's regulation builds on several similar regulations on the A. Bomb administration, and it's actually a bit tighter, about ten percent tighter. Than what was proposed by the e p A in the Department of Transportation just a year or so ago. So what we're gonna see is the whole fleet of vehicles beginning in one and through model year seven have to meet these tighter emission standards and tighter fuel economy standards. How much is

this all gonna cost? Do we have any estimates? I was looking at some that said that it might cost as much as for a semi truck starting in the model year. So it's what's interesting is that the trucking associations, a lot of the trucking industry groups yesterday said they were contiously optimistic, but this was a regulation they could work with, they said. Obviously, implementation is going to be key. Now.

The government of the agencies yesterday said that they project that there could be two thirty billion dollars in benefits once this program has been fully implemented, and that most truck owners could pay off their additional costs of this new technologies within two years two to four years, depending on the type of truck that they're purchasing. Is that likely to happen? Well, I mean, is it? Like I mean,

you know, projecting future cost savings is one thing. Having to shell out current dollars in order to change the emissions of your truck or your semi is something else. It's it's certainly something that that the agency has heard in public comment periods, and they've include a lot of flexibility in the proposal designed to adjust to the fact that a lot of these manufacturers and companies or small businesses.

So they're trying to uh find the proper sweet spot, I guess between you know, making companies take on these additional costs, but also giving them time to meet these new tighter emission standards. Um, well, the uh, there's obviously a little bit of pushback, but it it seems that this is pretty much baked in the cake now. And as your story notes, this is the final act like this under the Obama administration. Anything pending in Congress. We we don't expect a lot of action from Congress and

what's left of the year. Obviously they do have to fund the government, so we'll see what happens there. But this is, you know, the abdministration. They've talked spook and often about running through the the end line in terms of some of these regulatory actions that really these trucks standards are one of the last pieces that we expect from the President's climate legacy. A lot of the focus as well is going to be in the courts and defending actions like the Clean Power Plan UM and other

regulations UM that are being challenged by industry groups. All right, I want to thank you very much for joining us, Anthony A. Dragna. He is Capitol Hill environmental reporter for Bloomberg b NA. Bloomberg b NA offers authoritative coverage and spans a full range of legal practice areas including tax and accounting, labor and employment, and a variety of other business segments. Thank you very much, Anthony. Now let's turn our attention to another segment of the economy, and this

is the political world. Because boy, this certainly spend a lot of money on political advertising in this day and age. Alex Wayne as White House sedator for Bloomberg joining us from Washington, d C. Alex, spending money on advertising is not something that the Republicans have been doing well. The shake up in the Trump campaign change that we're promised ads starting September one, I believe uh, and I think

you're gonna see him pop up probably in Florida. There was an interesting analysis this morning showing that there's just a ton of ad spending going on in Florida. It's it's the key state in this campaign. So have you heard anything about what the ads are going to be like, what they're going to target, how they're going to cast Trump? Only in the most general sense are our Trump reporter Jennifer Jacobs give her a little shot out here? She tweeted,

the ads will will attack Clinton and boast on Trump. Souff, that's pretty much standard campaign advertising. If you were going to see an ad on the shakeup in the Trump campaign, what would it look like? That's a great question. I don't want to give the Clinton the Clinton campaign in um too much advice, but I would think they would probably highlight a few bright Bart headlines in that ad. Well, go ahead, tell people about that. So, so the shake up puts uh, the CEO of bright Bart News in

charge of Trump's campaign. Uh, Stephen b Stephen Banion, He's going to be the CEO of the campaign. Now. Bright Bart is pretty well known for some uh fairly inflammatory reporting. Uh and uh the Danion is is not a guy who's afraid of bombasts. So I think this is a signal that Trump has no interest in toning toning down his act. So would you say, when you see inflammatory reporting, what do you mean? Do you mean false? Do you

mean aggressive? Do you mean very conservative? Which flies in the face of you know what other factions want to hear? Um always aggressive and in some cases false us an example, please sure one of their infamous stories a few years back, they published a story where they at an Agriculture Department official who happened to be black for supposedly making racist

comments and a and a speech. They based that attack on the video that was misleadingly edited, and when the full video came out, it showed that she was actually making the opposite point. Then. Uh then bright Bart contended, Uh, pretty embarrassing episode for her or for extremety for them, but they got her fired. So uh, you know, that's a notable episode in their reforestry. I think can you give us any detail about the role that Roger Ales,

former head of Fox News, will play. It's very curious, right. Uh. The New York Times reported that he's advising Trump. Trump campaign denies it. Uh. We we reported this morning that that Trump had pushed or urged excuse me that Ales had urged for for for Donald Trump to make these changes in the campaign. So his role is awfully unclear.

It certainly is. Uh. One of the comments I read in our story had something them saying something along the lines or one of Roger's confidence saying, well, of course they've been friends for a long time. He's talking to Donald Trump, but he's not formally advising him. Alex, for all the years you've covered these kinds of campaigns. If whatever role Roger Ales may have, and obviously we know the Trump campaign denied it is, and he's still how

would you expect that to affect the campaign? Because one thing you can say for Roger Ailes is in many ways he's been very effective at the projects he takes on. Yeah, he's a great storyteller. He's you know, he turned Fox News into the dominant news organization that it is on cable news at least because he knows how to how to craft a narrative. Um, I would think that the Trump campaign would want to keep some at least plausible deniability that he has an official role, because I don't

think he is an appealing figure to women voters. Tell us about Paul Manafort and his connection with the Pro Russian party in the Ukraine. Yeah, that's that's a that's a really funky story. The New York Times report at the beginning of the week that they had seen a handwritten ledger obtained or produced by UH, a Ukrainian anti corruption agency, showing payments to Paul Manafort in the amount of twelve point seven million dollars that apparently he had

not reported. Um. He denies that those payments ever took place. UM. So it's it's it's not it's not clear what was going on there. UM and the New York Times story, it was a great story, but the lead was interesting. They didn't lead by saying Paul Manafort was paid twelve point seven million dollars by by the Ukrainian government. They kind of backed into the news a little bit. So it was, you know, there was they left some question there about about what had really happened, because I don't

think they were absolutely sure themselves. Now there's a story today from the Associated Press that UM groups associated with Manafort routed about two million dollars and lobbying money from Ukraine to a couple of Washington public affairs firms, and that the people involved never reported themselves as foreign agents working on behalf of the Ukrainian government. Um that could be illegal, Uh, it could it could be perfectly legal.

It's again not clear, but there are there are definitely some um some interesting connections between Manaphort and the Ukrainian government and by extension, the Russian government. And I can only assume that maybe some of Flury Clinton's new ads will touch on some of these issues. We shall see. Alex Wayne, thank you so very much. Fascinating conversation. He's White House editor for Bloomberg, talking to us about the staff shake up that Donald Trump's campaign and more. I'm caffeine.

He's along with him Fox. We're going to be looking at Dave Wilson's chart of the day. He's our stock seditor. This is taking Stock. We're also going to be talking about the f form C minutes. This is Bloomberg.