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00:00Well, you said something a couple weeks ago that struck me.
00:03You said, concerning the tariffs, which economists say are going to raise prices, you said, quote,
00:10hang tough.
00:12It won't be easy.
00:13You said that to the American people.
00:14Is that what Americans should expect?
00:15Well, I've said that.
00:16Some hard times?
00:17Because of these tariffs?
00:18I've said that during my campaign.
00:19Look, we won a campaign by a lot.
00:20We won all seven swing states.
00:22We won the popular vote by a lot.
00:24You know, we had a tremendous campaign.
00:26I said all these things during my campaign.
00:28I said, you're going to have a transition period.
00:31We've been ripped off by every country all over the world.
00:34They're laughing at us.
00:35They thought we were stupid people.
00:36And we were.
00:37And I said, that's not going to happen.
00:39We're not going to let that happen.
00:40But hard times?
00:41Hard times are ahead?
00:42I don't think so.
00:43I think great times are ahead.
00:44Look, since I came in, gasoline is down, groceries are down, egg prices are down.
00:51Many things are down.
00:52Just about everything.
00:53You know, you don't have the drop in fuel and energy and oil like we did.
00:57I took it from maybe $3.20, maybe more than that, down into a much lower number.
01:06When you have that kind of a drop, you're not going to have inflation.
01:08Not now.
01:09But it's the tariffs, right?
01:11We still have 145% tariffs on China.
01:13Your Treasury Secretary said we basically have an embargo on China.
01:16Look, you're trying to say something's going to happen, Terry.
01:18No, no.
01:19Okay.
01:20Nothing's going to happen.
01:21You know business.
01:22I want to ask you.
01:23I want to ask.
01:24I do know business.
01:25Yes.
01:26And that is basically an embargo.
01:27That's good.
01:28That's good.
01:29They deserve it.
01:30It'll raise prices on everything from electronics to clothing to building houses.
01:33You don't know that.
01:34You don't know whether or not China's going to eat it.
01:36That's mathematics.
01:37China probably will eat those tariffs.
01:39But at 145, they basically can't do much business with the United States.
01:43And they were making from us a trillion dollars a year.
01:47They were ripping us off like nobody's ever ripped us off.
01:50And by the way, we have other countries that were just as bad.
01:53If you look at the European Union, it was terrible what they've done to us.
01:57Every country, almost every country in the world was ripping us off.
02:01They're not doing that anymore.