President Trump hosts Canadian Prime Minister Mark Carney in the Oval Office and takes multiple questions from reporters.
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00:00Oh, boy.
00:20Stand here.
00:21Just watch the mic on their heads, please.
00:23Watch your stand.
00:30Watch your stand.
00:33Watch your stand.
00:37I'm going to meet you.
00:39So much.
00:40So much.
00:41So much.
00:42So much.
00:43I'm not.
00:44No.
00:45I'm not.
00:46I'm sorry.
00:49Nobody.
00:51All right.
00:53OK.
00:54Thank you very much, everybody.
01:12It's a great honor to have Prime Minister Mark Carney with us.
01:16As you know, just a few days ago he won a very big election in Canada, and I think I
01:22was probably the greatest thing that happened to him, but I can't take a vote for him.
01:27His party was losing by a lot, and he ended up winning, so I really want to congratulate
01:32him.
01:33It was probably one of the greatest comebacks in the history of politics, maybe even greater
01:37than mine.
01:39But I want to just congratulate you.
01:41That was a great election, actually.
01:43We were watching it with interest, and I think Canada chose a very talented person, a very
01:47good person, because we spoke before the election quite a few times.
01:52And it's an honor to have you at the White House and the Oval Office.
01:56You see the new and improved Oval Office as it becomes more and more beautiful with love.
02:02We handle it with great love and 24-karat gold.
02:06That always helps, too.
02:08But it's been a lot of fun going over some of the beautiful pictures that were stored
02:14in the vaults that were for many, many years, in some cases over a hundred years.
02:19They were stored in vaults of the great presidents, or almost great presidents, all having a reason
02:26for being up, every one of them.
02:28So it's very interesting.
02:29But I just want to congratulate you.
02:31And you ran a really great race.
02:33I watched the debate, and I thought you were excellent.
02:36And I think we have a lot of things in common.
02:38We have some tough points to go over, and that'll be fine.
02:41We're going to also be discussing Ukraine-Russia, the war, because Mark wants it ended as quickly
02:47as I do.
02:48I think it has to end.
02:50We had some very good news last night.
02:52The Houthis have announced that they are not, or they've announced to us at least, that
02:56they don't want to fight anymore.
02:58They just don't want to fight.
03:00And we will honor that.
03:03And we will stop the bombings.
03:08And they have capitulated.
03:12But more importantly, we will take their word.
03:16They say they will not be blowing up ships anymore.
03:19And that's what the purpose of what we were doing.
03:21So that's just news.
03:22We just found out about that.
03:24So I think that's very, very positive.
03:28They were knocking out a lot of ships, going, as you know, sailing beautifully down the various
03:34seas.
03:35It wasn't just a canal.
03:37It was a lot of other places.
03:40And I will accept their word.
03:42We are going to stop the bombing of the Houthis, effective immediately.
03:47And, Marco, you'll let everybody know that.
03:50Okay?
03:51Do you have something to say about that, by the way?
03:53This is a pretty big announcement.
03:54Yeah.
03:55This is always a freedom of navigation mission.
03:56These guys – these are, you know, a band of individuals with advanced weaponry that
04:00were threatening global shipping.
04:02And the job was to get that to stop.
04:04And if it's going to stop, then we can stop.
04:06And so I think it's an important development.
04:10And we'll have – maybe before we're going to, as you know, the Middle East, Saudi Arabia,
04:15we're going to UAE and Qatar.
04:19And that'll be, I guess, Monday night.
04:21Some of you are coming with us.
04:23I think before then we're going to have a very, very big announcement to make, like
04:27as big as it gets.
04:29And I won't tell you on what.
04:31But it's going to – and it's very positive.
04:33I'd also – I'd tell you if it was negative or positive.
04:35I can't keep that out.
04:36It is really, really positive.
04:39And that announcement will be made either Thursday or Friday or Monday before we leave.
04:45But it'll be one of the most important announcements that have been made in many years about a certain
04:51subject – very important subject.
04:53So you'll all be here.
04:56Mark, would you like to say a few words?
04:58MR.
04:59Thank you, Mr. President.
05:00I'm on the edge of my seat, actually.
05:02I know.
05:03But thank you for your hospitality and, above all, for your leadership.
05:08You're a transformational president, the focus on the economy with a relentless focus on
05:13the American worker, securing your borders, providing – ending the scourge of fentanyl
05:19and other opioids, and securing the world.
05:23And I've been elected with my colleagues here – with the help of my colleagues here, I'm
05:28going to spread the credit – to transform Canada with a similar focus on the economy,
05:36securing our borders, again, on fentanyl, much greater focus on defense and security,
05:42securing the Arctic and developing the Arctic.
05:44And, you know, the history of Canada and the U.S. is we're stronger when we work together,
05:49and there's many opportunities to work together.
05:51And I look forward to, you know, addressing some of those issues that we have, but also
05:55finding those areas of mutual cooperation so we can move forward.
05:58MR.
05:59Great.
06:00That's great.
06:01Very nice.
06:02Thank you very much.
06:03Very nice statement.
06:04Is the U.S. MCA dead?
06:08No.
06:09It was actually very effective, and it's still very effective, but people have to follow it.
06:17So, you know, that's been a problem.
06:19People haven't followed it.
06:21But it's a – it was a transitional step a little bit.
06:26And, as you know, it terminates fairly shortly.
06:30It gets renegotiated very shortly.
06:32But I thought it was a very positive step from NAFTA.
06:35NAFTA was the worst trade deal in the history of our country, probably in the history of
06:39the world.
06:40And this was a transitional deal.
06:45And we'll see what happens.
06:47You know, we're going to be starting to possibly renegotiate that if it's even necessary.
06:52I don't know that it's necessary anymore.
06:54But it served a very good purpose.
06:56And the biggest purpose it served is we got rid of NAFTA.
06:59It was a very unfair deal for the United States.
07:02A very, very terrible deal.
07:03It should have never been made.
07:04It was made many years ago, but it should have never been made.
07:06Yeah.
07:07The president of the history of Canada and the United States, would you like to see your
07:11first trade deal be with Canada?
07:14I would love that.
07:15Look, I have a lot of respect for this man.
07:17And I watched him come up, in a sense, through the ranks when he wasn't given much of a chance.
07:23And he ran a really great campaign.
07:25He did a really great debate.
07:26I think that debate was very helpful.
07:28I was going to raise my hand.
07:31I don't know if that's good or bad.
07:33I shouldn't say that.
07:34That might hurt you.
07:35But no, he ran a really great election, I thought.
07:38And yeah, something could happen.
07:40Something could happen.
07:41Yeah, please.
07:44What's the top concession you want out of Canada?
07:46The top concession you want out of Canada?
07:48Concession?
07:49Yes.
07:50Friendship.
07:51But that's not a concession.
07:52No.
07:53We're going to be friends with Canada.
07:55Regardless of anything, we're going to be friends with Canada.
07:58Canada is a very special place to me.
08:01I know so many people that live in Canada.
08:04My parents had relatives that lived in Canada, my mother in particular.
08:08And no, I love Canada.
08:11I have a lot of respect for the Canadians.
08:15Wayne Gretzky.
08:16I mean, the great one.
08:18You happen to have a very, very good hockey player right here on the Capitals, who I have a lot of his years.
08:24A big, tough cookie, too.
08:25He just broke the record.
08:27And he's a great guy.
08:28And, you know, we had the we had the team here and I got to know a lot of the players.
08:33But now Canada is a very special place.
08:37Yeah, please.
08:38Mr. President.
08:39Mr. Prime Minister, I'd like to get your response to this, too.
08:42Mr. President, you have said that Canada should become the first state.
08:46No, no.
08:47Well, I still believe that.
08:48But but, you know, it takes two to tango, right?
08:51No, I do.
08:52I mean, I believe it would be a massive tax cut for the Canadian citizens.
08:57You get free military.
08:59You get tremendous medical cares and other things.
09:03There would be a lot of advantages.
09:06But it would be it would be a massive tax cut.
09:09And it's also a beautiful, you know, as a real estate developer, you know, I'm a real estate developer at heart.
09:15When you get rid of that artificially drawn line, somebody drew that line many years ago with like a ruler, just a straight line right across the top of the country.
09:22When you look at that beautiful formation when it's together, I'm a very artistic person.
09:28But when I looked at that, you know, I said that's the way it was meant to be.
09:32But, you know, it's I guess I do feel it's much better for Canada.
09:37But we're not going to be discussing that unless somebody wants to discuss it.
09:41I think that there are tremendous benefits to the Canadian citizens, tremendously lower taxes, free military,
09:49which honestly we give you essentially anyway because we're protecting Canada if you ever had a problem.
09:54But I think, you know, it's it would really be a wonderful marriage because it's it's two places they get along very well.
10:02They like each other a lot.
10:04Well, if I may, as you know, from real estate, there are some places that are never for sale.
10:11That's true.
10:12We're sitting in one right now.
10:13You know, Buckingham Palace that you visited as well.
10:16That's true.
10:17And having met with the owners of Canada over the course of the campaign last several months,
10:23it's not for sale, won't be for sale ever.
10:26But the opportunity is in the partnership and what we can build together.
10:31And we have done that in the past.
10:33And part of that, as the president just said, is with respect to our own security.
10:38And my government is committed for a step change in our investment in Canadian security and our partnership.
10:46And I'll say this as well, that the president has revitalized international security, revitalized NATO.
10:53That's true.
10:54And us playing our full weight in NATO.
10:55And that will be part of it.
10:56That's true.
10:57They have.
10:58They have.
10:59I must say, Canada is stepping up the military participation because Mark knew, you know,
11:08they were low and now they're stepping it up.
11:10And that's a very important thing.
11:12But never say never.
11:13Never say never.
11:14Never say never.
11:19What will it take to get the terrorists top of Canada?
11:22Well, we'll be talking about different things.
11:25You know, we want to protect our automobile business.
11:28And so does Mark.
11:30But we want to protect.
11:31We want to make the automobiles.
11:33And we want to, you know, we have a tremendous abundance of energy more than any country.
11:38We have just in Alaska alone, Anwar has been reopened now.
11:42Anwar is probably the largest find anywhere in the world.
11:44They say it's larger than Saudi Arabia.
11:46I don't know, but it's a lot.
11:47But we have tremendous amounts of energy.
11:51Other countries don't.
11:52We're both lucky in that way.
11:53They have energy.
11:54We have energy.
11:55We have more than we can ever use and more than we could ever sell, actually.
11:59And you have the same thing.
12:00So we're two countries that are very lucky.
12:02If you look at China, they don't have that.
12:04You know, it's a big disadvantage.
12:06Other countries, most countries don't have, you know, most countries don't have that.
12:10So Canada and us, we have a lot of advantages over other places.
12:16Mr. President, when you consider what Mr. Carney just said, that Canada is not for sale,
12:24but does this make the discussion a little more difficult to start on?
12:27No, not at all.
12:28No, not at all.
12:29No, time.
12:30Time will tell.
12:31It's only time.
12:32But I say, never say never.
12:35I've had many, many things that were not doable and they ended up being doable.
12:39And only doable in a very friendly way.
12:41But if it's to everybody's benefit, you know, Canada loves us and we love Canada.
12:46That's, I think, the number one thing that's important.
12:50But we'll see.
12:51I mean, over time, we'll see what happens.
12:53China.
12:54China.
12:55They want to meet and they're doing no business right now.
13:10And those ships are turning around in the Pacific Ocean.
13:13Big turn.
13:14Those are big ships.
13:15The ships take about 10 miles to turn.
13:18And, you know, we lost a trillion dollars to China on trade because of an incompetent
13:24president that we had who preceded me.
13:26Grossly incompetent.
13:27You're finding it out more and more now.
13:29And by not trading, we're losing nothing.
13:32So we're saving a trillion dollars.
13:34It's a lot.
13:35But they want to negotiate and they want to have a meeting and we'll be meeting with them
13:40at the right time.
13:41But you haven't met with them yet.
13:42I have not met with them, of course.
13:44You would know if I met.
13:45I'd tell you they want to meet.
13:47But, you know, we are right now.
13:50Look, they're suffering greatly.
13:52Their economy is suffering greatly because they're not doing trade with the U.S.
13:55And they made most of their money off the U.S.
13:57Don't kid yourself.
13:58They don't make the money off other countries like this.
14:02And they were making, we had a trade imbalance.
14:05We had a deficit or they had a surplus, another way of saying it, of more than a trillion dollars.
14:12Think of it.
14:13More than a trillion dollars.
14:14And because of one hundred and forty five percent, that's the only reason.
14:17But because of they have now one hundred and forty five percent there's no trading.
14:21You can't trade with one hundred and forty five percent.
14:24We are therefore making in a certain way, I guess, one point one trillion dollars.
14:31In other words, we're not losing one point one trillion dollars.
14:35A deficit is much better.
14:37When I started, I say we were losing billions of dollars a day on trade.
14:42That's rapidly turning around.
14:45We looked at numbers this morning.
14:47So we were losing the United States during Biden was losing more than.
14:52I won't even give you numbers because they're so embarrassing, but billions of dollars a day on trade.
14:58Those numbers are rapidly turning between the tariffs.
15:01Don't forget.
15:02We're now getting twenty five percent on cars, twenty five percent on aluminum, twenty five percent on steel.
15:09And maybe more importantly, massive numbers of companies are moving into the United States.
15:15Honda.
15:16We have tremendous.
15:19The car companies are moving in at levels we've never seen before.
15:23The biggest investment ever made in the United States is being made right now.
15:28Trillions of dollars.
15:30I would say we could be at nine, nine trillion dollars.
15:34You could go back to other presidents.
15:36They haven't had one trillion dollars for their entire term.
15:40Look at Biden.
15:41He had bad numbers.
15:42People are leaving.
15:43They weren't coming in.
15:44They were leaving with Biden and he didn't know the difference.
15:47The only thing he knew is people coming in.
15:49You know who they were?
15:50Illegal immigrants.
15:52OK, from prisons, from mental institutions, from all sorts of places that weren't good, from gangs, from Venezuela.
16:01They were coming in and there were criminals and murderers, 11,888 people that murdered and at least half of them murdered more than one person.
16:11This is what Biden led into our country.
16:14I'm bringing in big companies.
16:15We have Apple is investing 500 billion dollars.
16:19We have Jensen, as you know, is going to be 500 biggest chip maker or chip thinker.
16:25I call him.
16:26He's really a thinker more than a maker.
16:28But we also have the maker, Mr. Way.
16:31I get to know them all in the last.
16:33It was a cram course.
16:35But they're all moving into America because of the tariffs.
16:38And the I don't think people have appreciated it.
16:42Some people do.
16:43Some of the smart people do.
16:44So we have more money coming in.
16:47It's really an amazing thing.
16:48We have more money being invested in the United States now than at any time ever before in our history.
16:54And it's not even close.
16:55And I think the real number could be nine or 10 trillion.
16:58We don't know everybody that's doing it.
16:59We have many.
17:00I just heard about a plant that's being built right now.
17:03Very, very top of the line company.
17:05And they didn't come to the White House.
17:07They're just doing it because they're making it.
17:09Because if they build here, there are no tariffs.
17:12And this is the big market.
17:14This is the market that sets us apart from it.
17:16This is the market where everyone wants to be.
17:19Now, if I didn't come here and do this, all of a sudden, we wouldn't be the market where everyone wants to be.
17:23So we're able to do it in time.
17:25But we're going to have a great announcement.
17:27And I'm not necessarily saying it's on trade going to the beginning.
17:32We're going to have a great announcement over the next few days.
17:34An announcement that will be so incredible, so positive.
17:39And I'm not saying I don't want you to think it's necessarily on trade.
17:42Just to finish, we also have a situation because everyone says, when, when, when are you going to sign deals?
17:48We don't have to sign deals.
17:49We could sign 25 deals right now, Howard, if we wanted.
17:53We don't have to sign deals.
17:55They have to sign deals with us.
17:56They want a piece of our market.
17:58We don't want a piece of their market.
18:00We don't care about their market.
18:01They want a piece of our market.
18:03So we can just sit down.
18:05And I'll do this at some point over the next two weeks.
18:08And I'll sit with Howard and Scott and with our great vice president who has done a really good job.
18:15We have some good news to report on a lot of fronts.
18:17But J.D. will be there and Marco.
18:20And we're going to sit down and we're going to put very fair numbers down.
18:23And we're going to say, here's what this country, what we want.
18:28And congratulations, we have a deal.
18:31And they'll either say, great.
18:33And they'll start shopping or they'll say, not good.
18:36We're not going to do it.
18:37And I said, that's OK.
18:38You don't have to shop.
18:39Now, we may think, well, they have a right, you know, that maybe we were a little bit wrong.
18:43So we'll adjust it.
18:45And then you people will say, oh, it's so chaotic.
18:48No, we're flexible.
18:49But we'll sit down and we'll at some point, in some cases, we'll sign some deals.
18:54It's much less important than what I'm talking about.
18:57For the most part, we're just going to put down a number and say, this is what you're going to pay to shop.
19:01And it's going to be a very fair number.
19:02It'll be a low number.
19:03We're not looking to hurt countries.
19:04We want to help countries.
19:06We want to be friendly with countries.
19:08But you keep writing about deals, deals.
19:10When are we going to sign?
19:11It's very simple.
19:12We're going to say, in some cases, we want you to open up your country.
19:17In some cases, we want you to drop your tariffs.
19:20I mean, India, as an example, is one of the highest tariffs in the world.
19:23We're not going to put up with that.
19:25And they've agreed already to drop it.
19:27They'll drop it to nothing.
19:28They've already agreed.
19:29They would have never done that for anybody else but me.
19:32So we're going to put down some numbers.
19:35And we're going to say, our country is open for business.
19:38And they're going to come in.
19:40And they're going to pay for the privilege of being able to shop in the United States of America.
19:47It's very simple.
19:48It's very simple.
19:49So I wish they'd keep, you know, stop asking, how many deals are you signing this week?
19:54Because one day we'll come and we'll give you 100 deals.
19:57And they don't have to sign.
19:59All they have to do is say, oh, we'll start sending our ships right now to pick up
20:04whatever we want or to bring whatever we want.
20:07It's very, very simple.
20:08And I think my people haven't made it clear.
20:11We will sign some deals.
20:13But much bigger than that is we're going to put down the price that people are going to have to pay to shop in the United States.
20:19Think of us as a super luxury store, a store that has the goods.
20:25You're going to come and you're going to pay a price.
20:28And we're going to give you a very good price.
20:30We're going to make very good deals.
20:31And in some cases we'll adjust.
20:33But that's where it is.
20:35And we've been ripped off by everybody for 50 years, for 50 years.
20:42And we're just not going to do that anymore.
20:44We can't do that.
20:45And we can't let any country do that to us.
20:48We're just not going to do it anymore.
20:49Can you tell us a bit more about the deal that you've reached with the Houthis?
21:02No, it's not a deal.
21:03They've said, please don't bomb us anymore.
21:06And we're not going to attack your ships.
21:08And where did you hear about that?
21:10It doesn't matter where I hear the very good source.
21:13Very, very good source.
21:14Would you say, Marco?
21:15I would say pretty good.
21:16Right, J.D.?
21:17A very good source.
21:22No, they don't want to be.
21:23They don't want to be.
21:24They don't want to be bummed anymore.
21:26You know, I sort of thought that would happen.
21:29I want to clarify something you said on USMCA.
21:32Is the U.S. prepared to walk away from that pact?
21:35From what pact?
21:36USMCA.
21:37No, no, no.
21:38It's fine.
21:39It's there.
21:40It's good.
21:41We use it for certain things.
21:42It's there.
21:43The USMCA is a good deal for everybody.
21:46I won't say this about Mark, but I didn't like his predecessor.
21:50I didn't like a person that worked.
21:52She was terrible, actually.
21:53She was a terrible person.
21:55And she really hurt that deal very badly because she tried to take advantage of the deal and
22:01she didn't get away with it.
22:02You know what I'm talking about.
22:04But, so, you know, I had a, we had a bad, we had a bad relationship having to do with
22:11the fact that we disagreed with the way they viewed the deal.
22:14And we ended it.
22:15You know, we ended that relationship pretty much.
22:18The USMCA is great for all countries.
22:21It's good for all countries.
22:22We do have a negotiation coming up over the next year or so to adjust it or terminate
22:28it.
22:29Mr. President.
22:30I'll just say, I'll say a word on USMCA if I may, Mr. President.
22:34It is a basis for a broader negotiation.
22:37Some things about it are going to have to change.
22:39And part of the way you've conducted these tariffs has taken advantage of existing aspects
22:43of USMCA.
22:44So it's going to have to change.
22:46There's other elements that have come and that's part of what we're going to discuss.
22:50The Press.
22:51The Press.
22:52The Press.
22:53The Press.
22:54The Press.
22:55During the campaign, Prime Minister Carney talked about the American victory on, how
22:59did you react if Canada decided not to shop in the American store as much as before and
23:05decided to partner with other countries?
23:07Well, we don't do much business with Canada from our standpoint.
23:11They do a lot of business with us.
23:13We're at like 4%.
23:16And usually those things don't last very long.
23:18You know, we have great things, great product, the kind of product we sell, nobody else can
23:22sell, including military.
23:24Look, we make the best military equipment in the world.
23:28And Canada buys our military equipment, which we appreciate.
23:31But we make the best military equipment in the world by far, the missiles, the submarines,
23:37everything.
23:38Everything we have is really top notch.
23:40I rebuilt our military during our last term.
23:43Stupidly, we gave some away to Afghanistan, which shouldn't have happened.
23:46But that was, I think it was the most embarrassing moment in the history of our country.
23:52It was just very incompetent people.
23:55But if you look at the man that's now the head of our Joint Chiefs, he led the attack on
24:00ISIS for me.
24:01That's why he's the head of the Joint Chiefs.
24:03And Raisin Cain, he's the, he was unbelievable.
24:07And as you know, we defeated ISIS in three weeks.
24:11It was supposed to take five years.
24:13We did it in three weeks.
24:16And he ran the campaign.
24:17I said, I like him.
24:18But I knew him before.
24:19I went, I went to Iraq.
24:21And we agreed to a plan.
24:22And that was the plan.
24:23And as you know, we did it in record time.
24:26So we have, you know, we have the best, we have the best equipment in the world.
24:31We have the best, a lot of things.
24:33And, but Canada does a lot more business with us than we do with Canada.
24:38Yeah.
24:39Mr. President, when do you think the investments that you've announced at Trillium will finally
24:46hit economic data this year?
24:49When you're saying about the tariffs?
24:51No, no.
24:52About the investments that you've announced.
24:53Oh.
24:54Oh, it's hitting right now.
24:55Look, they're already starting AI plans.
24:57These are not people that look for financing.
24:58That's a good thing.
24:59You know, in real estate, you get a site.
25:02Then you have to look for financing.
25:04You have to get your zoning.
25:05You know, five years later, you start building.
25:07You get a bank.
25:08Then the bank's no good.
25:09These people have massive amounts of cash.
25:12The CHIPS Act was a ridiculous thing because that doesn't get them to build.
25:16All we did is hand very wealthy companies money.
25:19The CHIPS Act that was done by Biden.
25:22Billions.
25:23We give them billions of dollars.
25:24They don't even have to do anything with it.
25:26And then if you weren't, if you didn't have, and I won't, I don't want to be a wise guy,
25:33but if you didn't go with DEI, if you didn't go with all of the different things, woke.
25:38If you weren't woke, you couldn't even use the money.
25:41You had to have a certain percentage of this and that and that and that.
25:45It's impossible.
25:46Impossible to have.
25:47The people, the companies actually complained to me.
25:49They said they gave me all this money, but nobody can get these people to do anything.
25:54I mean, look, President Obama, and if I, if he wanted help, I'd give him help because
25:59I'm a really good builder and I build on time, on budget.
26:03He's building his library in Chicago.
26:05It's a disaster.
26:06And he said something to the effect.
26:09I only want DEI.
26:11I only want woke.
26:13He wants woke people to build it.
26:14Well, he got woke people and they have massive cost overruns.
26:18The job is stopped.
26:20I don't know.
26:21It's a disaster.
26:22And I don't like that happening because it's, I think it's bad for the presidency that
26:26a thing like that should happen.
26:27He's got a library that's a disaster.
26:31And he wanted to be very politically correct.
26:33And he didn't use good, hard, tough, mean construction workers that I love, Marco.
26:38I love those construction workers, but he didn't want construction workers.
26:42He wanted people that like never did it before.
26:45And he's got a disaster in his hands.
26:47Like millions of dollars, many, many, I mean, really many millions of dollars over budget.
26:54And I would love to help him with it.
26:56Or somebody else.
26:57I could recommend professionals.
26:59But it was not built in a professional manner.
27:05By the way, nor was nor was in California a little train going from San Francisco to Los Angeles that's being run by Gavin Newsom, the governor of California.
27:18Did you ever hear of Gavin Newsom?
27:20He has got that train is the worst cost overrun I've ever seen.
27:24It's like totally out of control.
27:27So then they said, all right, we won't go into San Francisco.
27:30We'll stop 25 miles short and we won't go into Los Angeles.
27:34We'll stop 25 miles short.
27:36It's hundreds of billions of dollars for this stupid project that should have never been built.
27:43And then they realized that it would have been a lot less costly if we just gave limousine service back and forth and gave it free.
27:49They would have saved hundreds of billions of dollars.
27:52They have airplanes that go there for one one hundredth the cost.
27:56And they have cars.
27:57They have a thing called the highway that goes back and forth that's not fully utilized.
28:01And they got involved with this project.
28:04And Gavin, you know, I always liked Gavin.
28:06I had a good relationship with him.
28:08I just got him a lot of water.
28:10You know, I sent in people to open up that water because he refused to do it.
28:14And we just got him a lot of water.
28:17They would have had that water.
28:18And if they would have done what I said to do, they wouldn't add the fires in Los Angeles.
28:22Those fires would have been put out very quickly.
28:24But if you think about it and you've got to take a look at this.
28:27But it's the worst cost overrun I've ever seen.
28:30I've watched a lot of stupid people build a lot of stupid things.
28:33But that's the worst cost overrun I've ever seen.
28:36What's happening between San Francisco and Los Angeles.
28:39And you want to ask about that because this government is not going to pay.
28:42I told our very great new secretary of transportation.
28:46He's doing a good job, Sean Duffy.
28:48I said, we're not going to pay for that thing.
28:51They are just it's out of control.
28:54This is something that you don't have things like this.
28:58It it's not even conceivable like 30 times over budget, 30 times.
29:03It's the craziest thing.
29:04And now it's hundreds of it was supposed to be a simple train.
29:07And I think the media should take a look at it.
29:10And I'd love him to run for president on the other side.
29:14You know, I'd love to see that.
29:15But I don't think he's going to be running because that one project alone.
29:19Well, that and the fires and a lot of other things pretty much put him out of the race.
29:28Mr. President, what changes would you like to see to the USMCA?
29:31What changes would you like to see?
29:32We're going to work on some subtle changes, maybe.
29:35I don't even know if we're going to be dealing with USMCA.
29:38We're just we're dealing more with concepts right now.
29:40Look, right now we're doing trade.
29:42We have trade.
29:43They're paying a tariff on cars and steel and aluminum.
29:47And I think we have a baseline of 10 percent or something like that for the tariffs.
29:52But we're we're getting along very well right now going no further.
29:56But we have we have an agreement.
30:00We did something with even parts.
30:02You want to discuss that, Howard, with respect to Canada,
30:04which helps Canada out.
30:06Sure.
30:07So we've we've made an arrangement with the car companies that 15 percent of their
30:13A, USMCA parts are included.
30:15And then 15 percent of foreign parts from the the manufactured suggested retail price are not tariff to help domestic manufacturing really thrive.
30:26So it gave them a chance to be able to build their car parts factories if they're going to be a lot of these companies already have factories.
30:36And what they have to do is just fill them out.
30:38But they're able to build them in the United States.
30:40So we gave them a pretty substantial period of time.
30:43Just to clarify, Mr. President, is there anything the Prime Minister can say to you today to change your mind on tariff in Canada?
30:51Tariff in cars?
30:52Tariff in Canada.
30:53Is there anything he can say to you in the course of your meetings with him today that would get you to lift tariffs on Canada?
30:59No.
31:00Why not?
31:01Just the way it is.
31:02What's your question?
31:04If Canadians don't want it, would you respect that?
31:10Sure, I would.
31:11But this is not necessarily a one-day deal.
31:14This is over a period of time they have to make that decision.
31:17Yes, go ahead.
31:18Yeah, if I may.
31:19Well, respectfully, Canadians' view on this is not going to change on the 51st date.
31:26Secondly, we are the largest client of the United States in the totality of all the goods.
31:33So we are the largest client in the United States.
31:35We have a tremendous auto sector between the two of us and the changes that made have been helpful.
31:41You know, 50% of a car that comes from Canada is American.
31:45That's not like anywhere else in the world.
31:47And to your question about is there one thing, no, this is a bigger discussion.
31:52There are much bigger forces involved.
31:54Sure.
31:55And this will take some time and some discussions.
31:58And that's why we're here, to have those discussions.
32:01And that is represented by who's sitting around the table.
32:04See, the conflict is – and this is very friendly.
32:08We're not – this is not going to be like – we had another little blow-up with somebody else.
32:13It was a much different – this is a very friendly conversation.
32:17But we want to make our own cars.
32:19We don't really want cars from Canada.
32:21And we put tariffs on cars from Canada.
32:26And at a certain point, it won't make economic sense for Canada to build those cars.
32:31And we don't want steel from Canada because we're making our own steel and we're having massive steel plants being built right now as we speak.
32:38We really don't want Canadian steel and we don't want Canadian aluminum and various other things because we want to be able to do it ourselves.
32:47And we – because of, you know, past thinking of people, we have a tremendous deficit with Canada.
32:53In other words, they have a surplus with us.
32:56And there's no reason for us to be subsidizing Canada.
33:00Canada is a place that will have to be able to take care of itself economically.
33:07I assume they can.
33:09I will tell you that Trudeau, when I spoke to him – I used to call him Governor Trudeau.
33:14I think that probably didn't help his election.
33:16But when I spoke to him, I said, so why are we – why are we taking your cars?
33:20Why are we taking your – we want to make them ourselves.
33:23I mean, I said, and if the price of your cars went up or if we put a tariff – if we put a tariff on your cars of 25 percent, what would that mean to you?
33:35He said that would mean the end of Canada.
33:37He actually said that to me.
33:38And I said, that's a strange answer, but I understand his answer.
33:43But, no, I mean, it's hard to justify subsidizing Canada to the tune of maybe $200 billion a year.
33:53We protect Canada militarily, and we always will.
33:56We're going to – you know, that's not a money thing.
33:58That's – but we always will.
34:00But, you know, it's not fair.
34:02But why are we subsidizing Canada $200 billion a year or whatever the number might be?
34:08It's a very substantial number.
34:10And it's hard for the American taxpayer to say, gee whiz, we love doing that.
34:15Thank you very much. We're going to have a very – thank you very much.
34:20Why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why don't we – why
34:50Thanks, guys. Keep going.