President Trump is asked why he paused the tariffs for 90 days.
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NewsTranscript
00:00You started the morning saying, be cool, and then just a few hours later, there was a pause put in on the terrace.
00:07Can you walk us through your thinking about why you decided to put a 90-day pause on the terrace?
00:12Well, I thought that people were jumping a little bit out of line.
00:17They were getting yippy, you know?
00:19They were getting a little bit yippy, a little bit afraid, unlike these champions, because we have a big job to do.
00:25No other president would have done what I did.
00:27No other president, I know the presidents, they wouldn't have done it, and it had to be done.
00:31What was happening to us on trade, not only with, you know, if you look at it, not only with China,
00:38but China was by far the biggest abuser in history, and others also, but somebody had to do it.
00:45They had to stop because it was not sustainable.
00:48Last year, China made $1 trillion off trade with the United States.
00:53That's not right.
00:54And now I've reversed it, and it's for a short period of time, but we made $2 billion.
01:00We're making now $2 billion a day.
01:03And somebody had to do it.
01:07Roger actually said it.
01:08Charles Schwab was here a little while ago, one of the great financial people, and he said he's been waiting for 40 years for somebody to do what I did over the last month.
01:18And if you didn't do it, you wouldn't have a country.
01:21It wouldn't be sustainable.
01:22So I'm honored to have done it.
01:24And, you know, look, nothing's over yet, but we have a tremendous amount of spirit from other countries, including China.
01:31China wants to make a deal.
01:33They just don't know how quite to go about it.
01:35You know, it's one of those things that are not quite proud people.
01:38And President Xi is a proud man.
01:42I know him very well.
01:42And they don't know quite how to go about it, but they'll figure it out.
01:46They're in the process of figuring it out.
01:48But they want to make a deal.
01:50And we have other – we have many other countries, as you know, many more than 75.
01:55And they all want to come.
01:57They want to come here, or they'll go to Commerce, or they'll go to Treasury.
02:00We have our great senators here and congressmen.
02:05They'll call John.
02:06They'll do somebody.
02:07They'll go through somebody.
02:08But they're all calling, how do we do this?
02:10They all want to make a deal.
02:11Somebody had to do what we did.
02:13And I did a 90-day pause for the people that didn't retaliate, because I told them, if you retaliate, we're going to double it.
02:20And that's what I did with China, because they did retaliate.
02:23So we'll see how it all works out.
02:25I think it's going to work out amazing.
02:26I think that our country is going to be at the end of a year or shorter.
02:31But I think we're going to have something that nobody would have dreamt possible.
02:35A man like Roger Penske – I don't want to get him in trouble with China, so I won't.
02:39But he would know that you have to – someday you have to cut the bow and you have to do what you have to do.
02:45Right, Roger?
02:46And that's what I did, and I'm very happy to have done it.
02:49Mr. President, was there any –