In the Oval Office, President Trump spoke about a timeline for achieving trade deals amidst his attempts to make a deal with China.
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00:00Can you give us a sense of how far along these negotiations are with China?
00:03Are they in the early stages, or are you inching closer now to actually making a deal on tariffs?
00:07I think that we will make a deal with China.
00:10I think we've had some very good talks, but we will have some very good talks remaining.
00:15And, you know, I view it, and some people say, oh, Rush, I think we have a lot of time.
00:21I think we have plenty of time.
00:23But we have very, very good—you saw Japan was here yesterday.
00:27We had Italy today. We had a great conversation with the prime minister.
00:33We've had very good talks yesterday with Mexico.
00:37Talking with everybody, you know, the problem is there's only so many hours in the day.
00:42I think we're going to make a deal with China. We're going to make a deal with everybody.
00:46And if we don't make a deal, we'll just set a target, and we'll live with that, and that'll be fine.
00:50How much time? How much time do you think that you have?
00:52I would think over the next three or four weeks, I think maybe the whole thing could be concluded.
00:58You have to understand, we're a big—if you think of us as a big, beautiful department store,
01:05before that business was destroyed by the Internet, we're a big, beautiful store,
01:09and everybody wants a piece of that store.
01:13China wants it, Japan wants it, Mexico, Canada—they live off of it, those two.
01:19Without us, they wouldn't have a country.
01:23And everybody wants a piece.
01:25And at a certain point, if we don't make a deal, we'll just set a limit.
01:31We'll set a tariff, we'll set some parameters, and we'll say, come in and shop.
01:38They may not like that, and they may find it—or the market may find it too high.
01:42You know, more likely the market, but the market may find it too high, or the country may find it too high.
01:49Then they'll come back and say, well, we think this is too high, and we'll negotiate.
01:53Or they're going to say something else.
01:55They're going to say, well, let's see what happens.
01:58But they always have a right not to do it.
02:00So they can say, well, we don't want it, so we're not going to shop there.
02:03We're not going to shop in the store of America.
02:06We have something that nobody else has, and that's the American consumer.
02:10And I had the most successful four-year period in the history of this country, and I think we're going to blow it away this time.
02:22But there is a little bit of a transition, and we're going to have that little transition, and it's not much of a transition.
02:30You know, if you look right now, we're getting 25 percent on cars, right?
02:33We're getting 25 percent on steel.
02:35We're getting 25 percent on aluminum.
02:38We're going to have some other things that we're going to be adding in the not-too-distant future because we want them to be made here.
02:44The medicines, the drugs, pharmaceuticals are going to be done, and computer chips, et cetera, et cetera.
02:54And because of that, we have the biggest computer companies in the world coming in from Taiwan and other places,
03:01and they're building in Arizona and lots of other places, we're number one in AI by far.
03:07We're leading China by a lot, by tremendous amounts.
03:11We're going to supply electricity at levels never supplied before.
03:15They're going to build their own electric.
03:16We're going to let them become a utility, essentially.
03:19And it's going to be amazing for the country.
03:21They're going to build their own electric plants.
03:23We have to double up our electricity to be – to remain number one in AI, we're going to have to double up our electricity from –
03:30take our whole country.
03:32We're going to have to double up our electricity, think of that, and probably even triple it up.
03:36And we're going to let them build their own electric plants with their plant that they're building for the AI or whatever they're doing.
03:42Never been done before.
03:43We're going to get them quick approvals.
03:45It's going to be very clean, going to be very nice, and we're going to get them very fast approvals.
03:49And people are investing in this country like they've never invested before.