President Trump holds a press briefing in the Oval Office to announce a U.S.-U.K. trade deal and takes questions from reporters.
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00:00:00We appreciate that, but the deal is all now signed up and ratified.
00:00:04And we have access to a massive amount of very, very high-quality rare earth.
00:00:11This morning, I'm thrilled to announce that we have reached a breakthrough trade deal with
00:00:15the United Kingdom, an incredible country. Today is a victory day for World War II. We won the war
00:00:23together exactly 80 years ago, so there could be no more perfect morning to reach this historic
00:00:29agreement. And it's beautiful weather out, I will tell you that, Kir. Beautiful weather. It's so
00:00:34perfect outside. But it's really, in particular, the agreement with one of our closest and most
00:00:41cherished allies. And we're so happy that that's the way it worked out. I want to thank Prime
00:00:48Minister Starmer and his very talented team for their outstanding work and partnership.
00:00:55Today's agreement with the U.K. is the first in a series of agreements on trade that my
00:01:00administration has been negotiating over the past four weeks. With this deal, the U.K. joins the
00:01:06United States in affirming that reciprocity and fairness is an essential and vital principle
00:01:13of international trade. The deal includes billions of dollars of
00:01:18increased market access for American exports, especially in agriculture, dramatically increasing
00:01:24access for American beef, ethanol, and virtually all of the products produced by our great farmers.
00:01:33And our secretary, as you know, of agriculture is here, Brooke. Thank you very much being here.
00:01:38Thank you. Thank you, sir.
00:01:39You'll let the farmers know. In addition, the U.K. will reduce or eliminate numerous
00:01:45non-tariff barriers that unfairly discriminated against American products. But this is now turning
00:01:51out, I think, really to be a great deal for both countries because it'll be really great for the U.K.
00:01:56also. So they're opening up the country. Their country is a little closed, and we appreciate that.
00:02:04They'll also be fast-tracking American goods through their customs process. So our exports go
00:02:09to a very, very quick form of approval, and there won't be any red tape. Things are going to move
00:02:17very quickly both ways. The final details are being written up in the coming
00:02:22weeks. We'll have it all very conclusive, but the actual deal is a very conclusive one. We think
00:02:28just about everything has been approved. So good for both countries. And we'll also receive new market
00:02:35access for American chemicals, machinery, and many other industrial products that weren't allowed.
00:02:41And they'll end up getting products that they'll be able to price. And if they like them better and
00:02:46we make great products, they'll be buying those products. But they were not available in the U.K.
00:02:51Furthermore, in a historic step, the deal includes plans that will bring the United Kingdom into the
00:02:58economic security alignment with the United States. That's the first of its kind. So we have a big
00:03:04economic security blanket, and that's very important. And we feel very, very comfortable with
00:03:10that because it's been a great ally, truly one of our great allies. I mean, a lot of people say
00:03:15our greatest ally. I don't want to insult people by saying that, but I can say it's certainly one of
00:03:19our greatest and right at the top. And they're the first one we're talking about. And by the way,
00:03:25we have many meetings planned today and tomorrow, and every country wants to be making deals.
00:03:31And we have a meeting. As you know, Scott will be going over to Switzerland on Saturday,
00:03:37and that'll be very, very interesting. Let's find out. But I think they want to make a deal very badly,
00:03:43too. Both countries have agreed that the economic security is national security,
00:03:47and we'll be working together as allies to ensure that we have a strong industrial base,
00:03:52appropriate export controls, and protections for key technologies and industries like steel.
00:03:57The steel is a big factor. Both countries will become stronger with steel and things necessary for
00:04:03military. You know, we used to build ships and other things literally at a level that nobody's ever
00:04:09seen. And we haven't — we've eased up. And I would say that the UK certainly eased up,
00:04:14but now we're going to be uneasing both, and we work together.
00:04:17Once again, I want to thank Prime Minister Starmer. He's been terrific for his partnership in this matter,
00:04:23the special relationship and external bond. It's really an external and an internal bond
00:04:29between our two countries. We'll soon be stronger than ever before. And we really do — we have a
00:04:34great relationship. I want to just say that the representatives of the UK have been so professional,
00:04:40and it's been an honor doing business with all of them, and in particular, the Prime Minister. And
00:04:46I'd like to introduce him now to say a few words. Mr. Prime Minister, please take it away.
00:04:51The Prime Minister Starmer Thank you, Mr. President Donald. And
00:04:57this is a really fantastic historic day in which we can announce
00:05:02this deal between our two great countries. And I think it's a real tribute
00:05:07to the history that we have of working so closely together. Can I pay tribute,
00:05:13Donald, to your negotiating team as well, particularly Howard and Jameson, who've done
00:05:18an incredible job, a very professional job, and my team as well. Two negotiating teams have worked
00:05:24at Pace now for a number of weeks to bring in this deal today. Really important deal. This is
00:05:32going to boost trade between and across our countries. It's going to not only protect jobs,
00:05:38but create jobs, opening market access. And as you say, Donald, the timing couldn't be more apt,
00:05:46because not only was it 80 years ago today that victory came for Europe after and at the end of the
00:05:58Second World War. But of course, on that day, the UK and the US stood together as the closest of allies.
00:06:05And Donald, I think, even down to the hour, because you may or may not know that it was
00:06:11about this time of day, exactly 80 years ago, that Winston Churchill announced victory in Europe.
00:06:21And that led to great celebrations across Europe, across America, but particularly in the United Kingdom.
00:06:29Literally people going out into the street, putting bunting up, going up to the palace.
00:06:35And so to be able to announce this great deal on the same day, 80 years forward, almost at the same hour.
00:06:45And as we were 80 years ago, with the UK and the US standing side by side, I think is incredibly
00:06:54important and makes this truly historic. That close relationship has endured over those 80 years.
00:07:01As you know, Donald, when it comes to defence and security and intelligence sharing, of course,
00:07:06there are no two countries that are closer than our two countries. And now we take this into new and
00:07:13important territory by adding trade and the economy to the closeness of our relationship. It is built,
00:07:19as you say, on those notions of fairness and reciprocal arrangements. We've always had a fair and balanced
00:07:27arrangement between our countries. This builds on that, hugely important for sectors like car manufacturing
00:07:35and for steel and aluminium and so many others. And yes, we can finish hiring out some of the details,
00:07:42but there's a fantastic platform here, including, of course, on the tech side, where I think I'm right
00:07:48in saying we're the only two Western countries with trillion dollar sectors when it comes to tech.
00:07:53And in the end, it comes down to, as you say, Donald, economic security is national security. On national
00:08:02security, we've been absolutely the closest of allies for so many years, keeping the peace through that
00:08:08close alliance, that friendship. And now we add to that this deal on trade and the economy. And I want to
00:08:17thank you for your leadership on that, Donald, and for the way in which your team have negotiated this.
00:08:25And I'm so pleased that we've got this deal, we finalised it, and we've built an incredible platform
00:08:34for the future. So thank you so much, Donald. I'm now going to go and do a press conference. I think you
00:08:40have your press in with you. But on the details, I think if you've got Howard, we can deal with that
00:08:49through one of my team. That's great. Well, Mr. Prime Minister, thank you very much. It's an honour.
00:08:54We're going to have a continued, maybe a better relationship than ever before. You know, I don't
00:09:00know if the media knows, but the US and UK have been working for years to try and make a deal. And it
00:09:08never quite got there. But it did with this Prime Minister. So I want to just congratulate you.
00:09:13Well, with this President, this Prime Minister, we've managed to achieve what many people have
00:09:17tried to achieve for many years. And I'm really pleased. And it feels
00:09:22completely historic and on a special 80-year anniversary as well. So, Donald, thank you so
00:09:28much. It's really good to have got this deal over the line. Tribute to both teams, tribute to our
00:09:35countries and tribute to your leadership. Thank you. Well, it really is a great thing. And
00:09:39you go do your press conference and I'll see you soon. Maybe speak to you later.
00:09:43But thank you very much. And an incredible thing. I can't tell you that for so many years,
00:09:48even as I sat, everybody talked and talked and talked about a deal with it just seemed like a
00:09:53natural deal. But it was not done. But now it was done with us. So I feel very proud to have been a part
00:09:59of it. Keir, thank you very much. Thanks, Donald. And we'll speak again soon.
00:10:04Very good. So long. Bye.
00:10:06That's very nice. Why don't I do this? Why don't I have our Secretary of Commerce,
00:10:19Howard Lutnick, give a little description of the deal pretty quick. And then the good side,
00:10:27the very nice side. We'll be speaking about it also, maybe from, so you get a pretty equal.
00:10:33I think it's a very, it's just been a deal that was, we thought, very complicated. It became very
00:10:39simple. It's opening up the country that we really didn't have the kind of access to that I would
00:10:43have thought. I was surprised. I think it's why the deal never got done before. It was, you know,
00:10:47they've been working on this deal for 25 years. And we got it done and we got it done. Really, it's going to
00:10:53be great for both countries. So, Howard, if you could go and then somebody else, you may have,
00:10:59you'll pick whoever, whoever you want, who'd like to do it. I have a feeling you're going to do it,
00:11:03right? So you guys go ahead and then we'll take questions right after that. But I think you'll
00:11:08get a pretty good understanding of how big it is. It's a very large deal, very big deal. And,
00:11:13Howard, go ahead. Howard Lutnick, So the UK is the sixth largest economy in the world
00:11:20and the fourth largest that we export to, right? So it's a huge market, a top 10 market.
00:11:27If you remember Liberation Day, they were at 10 percent because we have balanced trade with the UK,
00:11:34right? They say they have a surplus, but of course that counts gold bullion, which is,
00:11:39so let's just call it balanced trade. So how do you open up a market in balanced trade? People think
00:11:44it's impossible. They've always thought it was impossible until President Trump came on the
00:11:49scene and changed the way things work. So here's what we've got. We've opened up new market access,
00:11:56ethanol, beef, machinery, all the agricultural products. They've agreed to open their markets,
00:12:03and that will add $5 billion of opportunity to American exporters. So the question is, why would
00:12:11they do that now because they've never done it before? And we still have a 10 percent tariff on,
00:12:16which will produce $6 billion of revenue for the United States. So the idea was, how do they keep
00:12:22their jobs, protect their economy, and do the best for their people while opening the market for us?
00:12:29And the ways they studied it, their team was exceptional, and they tried to figure out the
00:12:34markets that they're importing from other people and try to send them over to America. So why were they,
00:12:40why were they always favoring others and not us? And what they've done is they've found the ways to
00:12:45do that so that we have new access, right? But the UK workers are protected. And that was the balance.
00:12:53So you've got, we did a deal with them in automobiles. And you know, if you're not building here,
00:12:59we charge you a 25 percent tariff. But the president, and by the way, I want to make this clear,
00:13:04while Jameson and I worked hard, this was the president's deal. And people think, oh,
00:13:08that's not the way it works. If you got to sit next to him, I have the best deal maker to my left.
00:13:14And if you don't think that we take advantage of him calling the prime minister and getting that
00:13:19deal done, you don't understand who's the president of the United States. So he's the closer.
00:13:24He gets deals done that we could never get done because he understands business. He understands deals.
00:13:31And that's why we're here today. So he agreed they could send 100,000 cars
00:13:38into America and only pay a 10 percent tariff. And that protects their car industry. And remember,
00:13:43we do 16 million cars a year. So this is only like 0.6 percent. But for the UK auto people,
00:13:52this is tens of thousands of jobs that the president agreed that he would protect for them.
00:13:57So he made that deal. Then steel and aluminum. Their steel business has been destroyed like
00:14:03everybody else has been destroyed by people dumping steel into their markets. And British
00:14:09Steel had announced it was closing down. So the British government, as part of this deal,
00:14:14nationalized British Steel. And they're going to match the kinds of models we do. They'll put tariffs on,
00:14:20they'll put quotas on. They want to do it with America so they can be part of the resurgence of
00:14:26steel and aluminum in America. And that saves them, again, thousands and thousands of jobs.
00:14:32So if you go step by step, aero and commercial planes, they sell Rolls Royce engines to Boeing.
00:14:41We've agreed to let Rolls Royce engines and those kind of plane parts to come over tariff free.
00:14:47And what you're going to hear today is there's going to be an announcement in the UK that they
00:14:51are buying $10 billion worth of Boeing planes later today. But I'm going to let the name of
00:14:59the airline announce it because that's theirs to do. But part of this deal was always to do it together
00:15:05and to do it strong. And you can see the numbers on this board. Everything about this board works
00:15:10exceptionally well for the United States of America. It lays out the plan that you can work with us in
00:15:16autos. You can work with us with aero and commercial. You can work with us in pharmaceuticals
00:15:21if you have a supply chain that is secure and protected in national security. So we feel really
00:15:26good about the deal. You've heard the prime minister. He feels really good about the deal.
00:15:31Right? And we started at 10 percent and we ended at 10 percent. And the market for America is better.
00:15:37And this is a perfect example of why Donald Trump produced the Liberation Day. People don't understand
00:15:45he gets things done in a matter of time. This would have taken Jameson and I three years, maybe,
00:15:52and instead we got it done in 45 days, certainly because we work for Donald Trump. So Jameson,
00:15:59my partner in all this, maybe Jameson, you'd like to talk a little and then we'll turn it over to the UK.
00:16:02Sure. Happy to do that. Everyone has great remarks. I just have to echo the president,
00:16:09the prime minister. And we talk about the day. This is something we've been waiting for for decades.
00:16:13And there's no more appropriate day to do this. And when we step back and we look back a few weeks from
00:16:18now or months from now or years from now, we're going to look back at this day and better appreciate
00:16:23the significance, I think. And I'll just say as well, in terms of negotiating, I mean, the UK
00:16:28negotiators, you know, we've got one right here, did an incredible job, right? This is why you win wars,
00:16:35right? When you act like this. And the ambassador, he knows more about trade than a lot of us here,
00:16:40based on his background. And I would say on this deal, Mr. President, what we've shown is that it is
00:16:45time to change the way we do trade. People said we couldn't do a global tariff. We did a global
00:16:52tariff. They said no one would want to deal with us. People want to deal. They said no one give offers.
00:16:55You saw that stack of offers I showed you yesterday. All those countries said we wouldn't get deals.
00:17:00And here we are with a deal with the sixth largest economy. We've agreed to have fair reciprocal trade.
00:17:05And we've done it in record time. Thank you very much. Great job.
00:17:09Mr. President, thank you very much indeed.
00:17:14In hosting us this morning. And thank you very much indeed also for that very typical 11th hour
00:17:23intervention by you and your phone call to the President demanding even more out of this deal
00:17:30than any of us expected. So thank you for that. The Prime Minister was delighted,
00:17:35obviously, to take that call later tonight. But you took it to another level. And I think
00:17:41the point I would make is twofold. One is that if we're going to rebalance and rebuild international
00:17:50trade in a way that serves all our interests, then we're better doing that together than separately
00:17:58and apart. And that's what we're on a mission to do. But secondly, you've done what you said you would do.
00:18:06You said to the Prime Minister when he came and we visited in the Oval that you would do a good
00:18:15trade deal with the United Kingdom, that you would do it at pace, and that we would be first. And you
00:18:22have delivered that. You know, you've been true to your words. So thank you very much indeed for that.
00:18:28For us, it's not the end. It's the end just at the beginning. I mean, there is yet more we can do in
00:18:37reducing tariffs and trade barriers so as to open up our markets to each other even more than we're
00:18:45agreeing to do today. But it also provides us with the platform, the springboard, to do what I think will
00:18:54be even more valuable for both our countries in the future. And that's creating a technology partnership
00:19:03between the United States and the United Kingdom so that we can harness science and technology in order
00:19:10to create future industries and future jobs. And to do that together in the way we work so closely
00:19:18already in the national security and defense area, we can just take that to yet further areas of science,
00:19:26enterprise, and endeavor. So we're looking forward to doing that in the coming months.
00:19:34You've launched us extremely well today. It just, in my view, as the Prime Minister has said, just
00:19:42shows what two countries who trust each other, who are confident in each other, and are familiar with
00:19:48each other can do, not just for ourselves, but for those in the rest of the world who need to benefit
00:19:54from a bigger and better international trading system.
00:19:57Mr. Thank you very much. That was beautifully stated. What a beautiful accent, too.
00:20:02I'd like to have that accent. Thank you.
00:20:05Mr. My mother would be proud.
00:20:06Mr. Thank you very much. Any questions?
00:20:09The Press, Mr. President, James Matthews from Dan Hughes.
00:20:11Mr. Yes.
00:20:12The Press, can I ask, why Britain and why now? And you've described this deal as a full and comprehensive
00:20:19deal, and yet we've just heard from Mr. Martin, so that's the end of the beginning.
00:20:24Clearly, there's much more work still to do. With respect, are you overstating the reach and significance
00:20:30of this deal because you're a President who needs a result at a difficult time?
00:20:34Mr. I think that it's a great deal for both parties. It's for us.
00:20:38We've opened up. I didn't know how closed it was. Quite closed, the market, as you know,
00:20:44the UK. And it opens up a tremendous market for us, and it works out very well, very well.
00:20:51And a lot of assets, you see the chart, and those are tremendous assets. But we've been trying,
00:20:58and when you say, why us, meaning your country, we've been trying for years. And they've been trying
00:21:03for years to make a deal, including when I was in the, you know, first term. It would always be
00:21:09people talking, but they weren't getting it done. But for 25 years before that, they were trying
00:21:15always to make a deal, a very significant deal. I actually, until I looked at the numbers, I didn't
00:21:22realize this is a very conclusive deal. But we think we can grow it even from that. But this is a maxed
00:21:28out deal, not like you said it. You said it really incorrectly. This is a maxed out deal that we're
00:21:35going to make bigger. And we make it bigger through growth. But we have tremendous assets involved.
00:21:42I was surprised to see how big your country is in trade, actually. You know, one of the biggest
00:21:46in technology and so many other things. It's agriculture. I really didn't know. It's,
00:21:52depending on your definition, it's from four to five to six. It's pretty big in the world.
00:21:59So I was very impressed by that. But we're going to take it to new levels. It's a very big deal right
00:22:07now. But I think it is going to grow just of its own volition. It's going to grow. And over time,
00:22:12there'll be changes made. There'll be adjustments made because we're flexible. We'll see things that
00:22:18we can do even better. But it's very conclusive. And we think everyone's going to be happy. And
00:22:24the people of your country are going to be very impressed with the result. And they'll be able to
00:22:30buy from more people. They'll be able to price things differently. They'll be able to get some
00:22:34products that aren't available to them now that we make better than anybody in the world.
00:22:39And it's just something that it's a great thing that it came together. It's so nice because we have
00:22:46many countries want to make a deal. And many countries are very unhappy that
00:22:51we happen to choose this one, to be honest with you. But it's a long time.
00:22:57Our oldest ally, or just about, I guess a couple of people claim that too. But let's put it right at
00:23:04the top. I think it's going to be something very special for the UK and special for the United States.
00:23:10Thank you, Mr. President. Reagan Reese with The Daily Caller.
00:23:15How close are you to more deals? And when do you expect the next to be announced?
00:23:19Well, very close. We have numerous deals. I know Howard's going back.
00:23:22As soon as this is finished, your press conference, he's got numerous.
00:23:26And Scott, who's right over here, who's fantastic, by the way,
00:23:30you were great on television this morning. I watched you.
00:23:32You know, he gave them a little lesson in the world and economics.
00:23:36But Scott is going to be going to Switzerland, meeting with China.
00:23:42And, you know, they very much want to make a deal.
00:23:45We can all play games. Who made the first call?
00:23:48Who didn't make it? It doesn't matter.
00:23:50It only matters what happens in that room.
00:23:52But I will tell you that China very much wants to make a deal.
00:23:56We'll see how that works out.
00:23:57Every country throughout the last 40, 50 years has literally ripped off the United States
00:24:05on trade, on military, on protection, on all the different things.
00:24:08And we are now making fair deals.
00:24:10And in this case, it's great because we really weren't very much involved.
00:24:15You have the European Union, which is, I think, you know,
00:24:19I think you made the right decision years ago.
00:24:21I don't know if you remember, I was opening up Turnberry the day that you were voting.
00:24:26And they asked me, would it happen or would it not happen?
00:24:28I said, no, I think they're going to go their own separate way.
00:24:30I think it's better for them.
00:24:32And they did. I think it's going to end up being a very smart decision.
00:24:35But a big part of that decision was always that you'd be able to make a deal with the United States.
00:24:40And they were unable to do that, but now they made it.
00:24:43And it's a tremendous, you know, it's very important.
00:24:46That was always a big part of your decision on Brexit.
00:24:50And they were never able to make that deal.
00:24:53It was, you know, it was a tough one.
00:24:54And this one was, it's amazing with time.
00:24:58This one just went very smoothly, went quickly and smoothly.
00:25:01And a lot of common sense, as I like to say.
00:25:04It's tremendous common sense.
00:25:06But it's going to make your country much bigger in terms of trade.
00:25:09And it's going to make our country much bigger in terms of trade, too.
00:25:12Yes, Mr. President.
00:25:14The Press.
00:25:15The President, Tom Bateman at the BBC.
00:25:17Thank you, Mr. President.
00:25:19You mentioned me at the BBC.
00:25:20The President, oh, good. Very nice.
00:25:22They treat me beautifully.
00:25:24The Press.
00:25:25You mentioned meat and beef exports.
00:25:27The U.K. currently doesn't accept American beef because of its own food standards.
00:25:34Are you calling on the U.K. to accept all American beef and chicken products?
00:25:40Well, I think they'll take what they want.
00:25:43We have plenty of it.
00:25:44We have every type.
00:25:46We have every classification you can have.
00:25:49As you know, Bobby Kennedy is doing a tremendous job.
00:25:52And he's, I think, probably heading toward your system with no chemical, no this, no that.
00:25:59I mean, I think we're heading that way.
00:26:00It seems to be.
00:26:01And — but we have that also.
00:26:04So we have — we're a very big country.
00:26:07We have a lot of beef. We're a very big country. So it'll be — it'll be great.
00:26:11Yes. Yes.
00:26:12Do you want me to tell that?
00:26:13Yes.
00:26:13Let's talk about American beef really quickly.
00:26:16And it can't be understated — I'm Brooke Rollins, by the way — how important this deal is
00:26:20and what this means to American farmers and ranchers.
00:26:23Specific to the beef, this is going to exponentially increase our beef exports.
00:26:28And to be very clear, American beef is the safest, the best quality,
00:26:33and the crown jewel of American agriculture for the world.
00:26:36So I think a really important part of this deal isn't just the ethanol reducing of tariffs from 19 to zero,
00:26:41which for our row croppers is a huge deal, but also for beef.
00:26:45And as we move forward, I know our incredible trade team is looking at all of the meats,
00:26:49all of the produce, really all of our agriculture exports.
00:26:52And I don't know if there's an industry that has been treated more unfairly
00:26:57and has suffered more than our agriculture industry.
00:26:59So we look forward to — I'll be in the U.K. on Monday, talking to my counterpart over there for the next —
00:27:04really for next week — and I look forward to moving that out across the country.
00:27:08The President is incredible.
00:27:09The President is incredible.
00:27:09I think we could say that we have the best in the world,
00:27:12best tractors, the best everything in the world.
00:27:15And they say that our agriculture is, you know, second to none, you understand.
00:27:20And it'll be a great asset.
00:27:21People are going to be able to have options, choice, and they'll have more of it.
00:27:25And that usually means lower prices.
00:27:27How about we'll do you, and then you?
00:27:28Go ahead.
00:27:29The Pressel- I have a question for the Italian TV.
00:27:31Daniele Compatangelo, LA7, TV2, 2000, Downtown Media.
00:27:34So, congratulations for the deal.
00:27:35We'll see a big revenues from the chart.
00:27:38But what's the rest of Europe?
00:27:40It's a victory day, but other European countries — it seems like they're losing the train.
00:27:44The President is trying to make a deal with Europe.
00:27:48We have found that the European Union treated us extremely unfairly — very difficult —
00:27:53and hurt themselves in doing so.
00:27:56And they very much want to make a deal.
00:27:57We'll be dealing with them.
00:27:58We are dealing with them, currently.
00:27:59So, that'll cover pretty much the rest of it.
00:28:03But this was separate.
00:28:04Because of Brexit, in particular, you know, this was a separate — a separate deal.
00:28:09It always seems so natural.
00:28:11I mean, all the media would say that this seemed to be like,
00:28:14why did this happen 25 years?
00:28:15Why didn't it happen a long time ago?
00:28:18And it was always amazing to me that somebody would say,
00:28:20hey, we've got to make a deal. We have to make a deal.
00:28:23But this deal just fell into place.
00:28:25The Prime Minister did a fantastic job.
00:28:27His representatives are total professionals, and they got along well.
00:28:31And it just seemed to work.
00:28:32And I think one of the reasons it did is because we blew up the whole system.
00:28:36If we would have just been dealing with you separately or, you know, country by country,
00:28:41we blew up the whole system.
00:28:42It was very fair to the United — very unfair to the United States.
00:28:46And I think, because of that, this worked out so nicely.
00:28:50And I'm honored that it was the first deal.
00:28:52Please.
00:28:53The Pressure.
00:28:53The Pressure.
00:28:54The Pressure.
00:28:55The Pressure.
00:28:56Well, why don't you go in the back, yes.
00:28:58The Pressure.
00:28:58Oh, thank you, sir.
00:28:59I'm with the London Times.
00:29:00I would say this is a great day for James Bond, because now Aston Martins will be available
00:29:03to America.
00:29:04The Pressure.
00:29:05The Pressure.
00:29:06The Pressure.
00:29:07The Pressure.
00:29:08The Pressure.
00:29:09The Pressure.
00:29:10The Pressure.
00:29:11You've talked about a big tariff on films.
00:29:12And we'd like to know if there'd be a relief on British —
00:29:13Well, we have a discussion on that, separately.
00:29:16And as you know, we're putting tariffs on that particular film, he said — the movie makers.
00:29:21And we're going to be doing some tariffs to get them, because a lot of them have left this country.
00:29:28They all live here.
00:29:29The money comes from here.
00:29:30Everything comes from here.
00:29:31But they make them in other countries.
00:29:33So we're going to do something to bring them back, maybe to a large extent.
00:29:38But James Bond has nothing to worry about that, I can tell you.
00:29:42James Bond.
00:29:43And you know, Sean Connery was a friend of mine.
00:29:45Sean Connery was responsible for my getting zoning in Aberdeen.
00:29:48He said, let the bloody bloke build his golf courses.
00:29:53I was like four years into the process, and it was impossible in Aberdeen.
00:29:58And he — I don't know — he just stood up one day, and he said that.
00:30:01As soon as he said that, I got the approvals in about two minutes.
00:30:05So he had great — he was a great guy, Sean Connery, and a great character.
00:30:09The Press, are you going back there in the — later in the year?
00:30:11Are you going back to — are you going to Scotland and to the United States?
00:30:13The President Biden's — I will be sure.
00:30:15And we have a lot of investment over there.
00:30:16We have Turnberry, Aberdeen.
00:30:18We have, as you know, in Doonbeg in Ireland, right on the ocean.
00:30:22They're all on the ocean.
00:30:24I only have interest if they're on the ocean.
00:30:26And we have — we have good investments over there.
00:30:29It's been beautiful.
00:30:30Yes.
00:30:31The Press, Mr. President, if the talks go well this weekend
00:30:33between Secretary Bessett and Ambassador Greer with their Chinese counterparts,
00:30:36not preemptively, but if the talks go well, would you then consider lowering the tariff rate on China?
00:30:41The President Biden's — well, it could be.
00:30:43I mean, we're going to see it right now.
00:30:44You can't get any higher.
00:30:45It's at 145.
00:30:47So we know it's coming down.
00:30:49I think we're going to have a very good relationship.
00:30:51You know, I always got along very well with President Xi.
00:30:54That relationship was greatly disturbed by COVID when COVID came in.
00:31:00But we get along very well now.
00:31:01I mean, we had a — I mean, the relationship was hurt with a lot of people,
00:31:04a lot of countries when COVID came in.
00:31:07But I think we're going to have a very good relationship.
00:31:10I expect to have a very good relationship with China, Scott.
00:31:13I think it's a very friendly meeting.
00:31:16They look forward to doing it in an elegant way.
00:31:20China, as you know, has a tremendous trade surplus with us.
00:31:24And we can't — you know, we just can't have that.
00:31:26And — but I think it's going to — I think it's going to be very good for both countries.
00:31:30I would like to see China opened.
00:31:32You know, one of the big things here is — and nobody would know this,
00:31:35but the U.K. was largely closed.
00:31:37It was very much closed to trade.
00:31:40And now it's opened.
00:31:41And a lot of the financial reporters are very happy about that,
00:31:44because it's so much — I've listened to them.
00:31:47I hope they get countries opened up.
00:31:50And then you compete on a fair basis.
00:31:51But you can't compete when you're not allowed to go there.
00:31:55China would be the number one example of that.
00:31:57You know, it's very close.
00:31:58We almost had it last time before COVID, and that didn't work out.
00:32:04But we made a great deal with China.
00:32:05They had to buy $50 billion worth of our food products.
00:32:08And it was a great deal, doing very well for our farmers.
00:32:11And then when Biden came in, as usual, nothing happened.
00:32:14You know, he didn't enforce it.
00:32:16And it got less, less, less.
00:32:17And ultimately, you know, it destroyed a great deal.
00:32:20That was a great deal.
00:32:21But no, I think that we're going to have a —
00:32:24I think we're going to have a good weekend with China.
00:32:26And I think they have a lot to gain.
00:32:28I do think they have far more to gain than we do, in a sense.
00:32:31But we're going to have a good —
00:32:33I think we're going to have a very good weekend.
00:32:35Can you speak to Xi after the weekend talks?
00:32:37The President of the United States?
00:32:38Yeah, sure.
00:32:38Depending on what Scott says.
00:32:41We sort of — Scott is doing certain countries,
00:32:44and Howard is doing certain countries.
00:32:47I mean, I wish I had like 10 more of each.
00:32:49If we — then we could do them all at one time.
00:32:51But there will be a time.
00:32:53We'll do a number of them.
00:32:54And then there will be a time — I think I can say this,
00:32:57Scott and Howard — where we're just going to say —
00:33:00because we understand the countries,
00:33:01we understand what they want —
00:33:03where we're just going to make the deal.
00:33:05In other words, we don't need the country involvement
00:33:08because we've already had it.
00:33:10And we'll say this particular country,
00:33:12which had big surpluses, let's say —
00:33:14we had, therefore, deficits —
00:33:16that this particular country is going to pay a 25 percent tariff,
00:33:19for 30 percent or 50 percent or 10 percent or whatever it may be.
00:33:24This was — I think we should explain it now, Howard.
00:33:27One of the things we did here that we'll rarely do is on cars.
00:33:32We took it from 25 to 10 on Rolls-Royce,
00:33:34because Rolls-Royce is not going to be built here.
00:33:39I wouldn't even ask them to do that.
00:33:40You know, it's a very special car.
00:33:42And it's a very limited number, too.
00:33:44It's not, you know, one of the monster car companies
00:33:47that makes millions of cars.
00:33:49They make a very small number of cars that are super luxury,
00:33:52and that includes Bentley and Jaguar.
00:33:55So we have some very special cars.
00:33:57So, in order to help that industry —
00:34:00and that's really, you know, handmade stuff.
00:34:04They've been doing it for a long time in the same location.
00:34:08And I said, yeah, that would be — let's help them out with that one.
00:34:11But that's different than a car company that comes out
00:34:14and makes millions of cars, which they'll be doing in our country.
00:34:16They're going to build — we have many, many factories,
00:34:20car plants being built or going to be built very soon.
00:34:26I think we can say that we'll be close to $10 trillion of investment.
00:34:32I think we're actually at that number now,
00:34:34if you add up some of the ones we haven't heard about yet.
00:34:37I mean, we have some going up right now.
00:34:39They have plants going up, and they haven't even spoken to us.
00:34:41They're doing it because of the tariffs.
00:34:43And tariffs have always been used against us.
00:34:45And I never understood — I used to sit back —
00:34:48as you know, China paid hundreds of billions of dollars in tariffs
00:34:52when I was president.
00:34:53But until then, China never paid anything.
00:34:56And, you know, they really did a big number on us
00:34:59from the standpoint of trade.
00:35:01But we are using tariffs now for our benefit.
00:35:05And we have now close to $10 trillion — think of that — $10 trillion.
00:35:11If you look at the past administration — and we're talking about over, you know,
00:35:15essentially two months, because we could say three,
00:35:18but it took a little while to get the office in perfect shape, right?
00:35:21It took a little while to get things done.
00:35:24But once we started — when you think of that,
00:35:27close to $10 trillion of investment —
00:35:30you've had years where the United States wouldn't do that in a whole —
00:35:33wouldn't do $1 trillion in a year — wouldn't do anywhere near $1 trillion.
00:35:37We did $10 trillion in two months.
00:35:40So it's amazing what's happening.
00:35:42We're getting calls from — and that has to do with chips,
00:35:44has to do with cars.
00:35:47We used to make chips.
00:35:48We had Intel, and we used to make chips.
00:35:50We had a monopoly on chips.
00:35:51Everything was made here and now, over a period of years,
00:35:54because of presidents that didn't know what they were doing.
00:35:56They allowed that business to be stolen from us.
00:35:59Most of it moved to Taiwan.
00:36:01And you probably were in the same position, right?
00:36:03Because you had a lot of the chip-making capacity.
00:36:06But they moved it in.
00:36:07And if we would have said, that's fine.
00:36:08If you want to move it to Taiwan, that's good.
00:36:11But if you want to sell back into the United States,
00:36:14we're going to put a 50 percent or 100 percent tariff on —
00:36:16they would have never left.
00:36:17But we had people sitting here that didn't understand that.
00:36:21And it's too bad.
00:36:22But now they're coming back, because I'm saying it —
00:36:25I'm saying it about 40 years too late.
00:36:27But they're coming back.
00:36:28As you know, we have the biggest chip-makers in the world
00:36:30spending, in one case, $300 billion.
00:36:33In one case, $500 billion — same as Apple.
00:36:37And in another case, $200 billion.
00:36:40And we're going to have a large share — a very,
00:36:42very substantial share — of the chip-making market.
00:36:45We said that this weekend it's going to be a friendly visit.
00:36:50But do you expect that it will just be a formality to break the ice?
00:36:53Or are they going to get into substantive negotiations?
00:36:56The President I believe so, yes.
00:36:57I believe it's substantive, yes.
00:37:00I think people like to say, yes, we're having a meeting to meet.
00:37:02Well, we're meeting, so what are we going to do?
00:37:04Talk about meeting again?
00:37:07So, I think it's going to be substantive.
00:37:09I think we can say that, right, Scott?
00:37:11Very substantive.
00:37:12Now, China wants to do something.
00:37:14And, look, they have to at this point.
00:37:17You know, essentially, they made a trillion dollars a year,
00:37:21and now they have absolutely, you know, no business because of the tariffs.
00:37:25They have no business, and they want to have business.
00:37:28And we want them to have business.
00:37:29We want them to do well.
00:37:31We want them to do very well.
00:37:32So, I think it's going to be very substantive.
00:37:35The Pressure because business has slowed down, as you mentioned.
00:37:39The President in China.
00:37:40But we're seeing, as a result, the ports here in the U.S., the traffic has really slowed,
00:37:46and now thousands of dock workers and truck drivers are worried about their jobs.
00:37:50Yeah, no, we lose — that means we lose less money, you know?
00:37:53When I see that, that means we lose less money.
00:37:55Look, China was making over a trillion — 1.1 trillion, in my opinion.
00:37:59You know, different numbers from 500 billion to a trillion or a trillion — I think it was 1.1 trillion.
00:38:05And frankly, if we didn't do business, we would have been better off.
00:38:09Okay, you understand that.
00:38:10So, when you say it slowed down, that's a good thing, not a bad thing.
00:38:14But we're going to make it so they can — I'd like to say they can do better,
00:38:18actually, in terms of the bottom line.
00:38:20We'd like to see China opened up so we can compete in China and, you know,
00:38:25give people something that they've never had — you know, access to something.
00:38:29That'd be great for the world.
00:38:30It would be great for our businesses.
00:38:32And I think it would be great for friendship.
00:38:34I really expect a lot of people to think I'm a militant guy.
00:38:37I'm really not.
00:38:38I think that trade can bring a greater friendship with China.
00:38:42It can be something good.
00:38:43But, you know, one of the things that I know Scott's going to be talking about very high on the list is
00:38:48open up and let our businesses go into China.
00:38:51Because when you talk about a closed country, that's a really closed country.
00:38:56And I think it would be great if it was opened up,
00:38:58it would give people a lot of choice and would create a lot of jobs, a lot of everything.
00:39:03So, I think it would be a great thing for China.
00:39:05And that's going to be one of the things we'll be discussing, like we discussed with UK.
00:39:08The Press, what does Britain have to do
00:39:15for you to drop the baseline 10 percent tariff that you're leading to?
00:39:18Well, I think that's set because that has to do with a lot of different things, including past — you know,
00:39:23there are a lot of past things that we're talking about. This is very inclusive. We included everything.
00:39:29And that's pretty well said. Yeah, please.
00:39:31Yeah, Mr. President, the 10 percent baseline tariff were made in place.
00:39:35Is that a template for these future trade deals you said you're going to keep it here?
00:39:38No. No.
00:39:39Is it going to stay in every basis?
00:39:40No, that's a low number. They made a good deal.
00:39:44Many — some will be much higher because they have massive trade surpluses.
00:39:48And, you know, in many cases, they didn't treat us right.
00:39:50One thing with the UK — they had, you know, somewhat closed — not — not like a China,
00:39:56as an example, but — but they always treated us with great respect.
00:40:00So — they treated us with great respect.
00:40:03The — the template of 10 will — is probably the lowest end.
00:40:11And therefore, they, you know, made that deal.
00:40:14And — but they — you know, we've had just a very special relationship with them.
00:40:19Like, I won't do that deal with cars.
00:40:20I mean, unless somebody shows me that there's another kind of a car that's comparable to a
00:40:24Rolls-Royce.
00:40:25And there aren't too many — this is a good commercial for Rolls-Royce.
00:40:29They're going to order a lot of cars.
00:40:30Mr. President, I wonder whether you'd like to buy.
00:40:36Well, the last time this happened, they ended up —
00:40:38I would be happy to suggest a discount.
00:40:40Obviously, a very modest discount.
00:40:41We have to protect our poor margins.
00:40:44I've had many of them, actually.
00:40:45Mr. President, you know, the last time that happened, I ended up buying a Tesla.
00:40:50You know —
00:40:55The Press- Thank you.
00:40:55Mary Morgan Olihan with Daily Wire.
00:40:57I had a question about the U.K. deal today.
00:40:59I heard there was talk that part of the agreement would depend
00:41:02on whether the U.K. would respect free speech and freedom of religion.
00:41:06I know the VP is really interested in that and talked about that earlier this year.
00:41:09Was there any assurances that you guys got on that front?
00:41:12Mr. President, you want to handle that?
00:41:13The Press- Yeah, that was not part of the conversation.
00:41:16Our conversation was an economic conversation from start to finish,
00:41:21closed by the President yesterday.
00:41:24This was a business deal.
00:41:25Open their markets and also protect their workers.
00:41:29Grow our markets and help our workers.
00:41:32Mr. This was about business religion.
00:41:34You know, business is sort of a semi-religion.
00:41:38But not nearly as important.
00:41:39I don't want to get myself into it.
00:41:40Mr. President, I don't know what it is.
00:41:42The Press- Mr. President, will you be asking
00:41:47China to help you close, you know, the gap between Ukraine and Russia?
00:41:52Mr. I think so, yeah.
00:41:53I think it's a natural thing to ask.
00:41:54The Press- What do you expect?
00:41:55Mr. Sure.
00:41:56I don't know.
00:41:56I think we're making good progress.
00:41:59Fighting is a little bit different than it was.
00:42:01I think if we weren't involved, Russia would be, you know, going at it to
00:42:07maybe get the whole thing.
00:42:08Without our involvement, they'd be able to get it.
00:42:11Because we supplied a lot of different things, foolishly.
00:42:14But we've been sort of paid back by doing the rare earth deal that I talked about before.
00:42:18I think that, no, I think that we will be very much involved in trying to get that bloodbath.
00:42:25It's a bloodbath.
00:42:26It's a horrible situation.
00:42:275,000.
00:42:28It's really more than that.
00:42:30But it's 5,000 soldiers on average a week, mostly soldiers, are being killed.
00:42:36Young, beautiful people.
00:42:38I mean, they're being killed.
00:42:38I see the satellite pictures coming back, body parts lying all over the fields, heads and arms.
00:42:44It's so terrible.
00:42:45I've never seen anything like it, actually.
00:42:47And if we can get that stopped, that would be a great accomplishment.
00:42:50Then we're trying very hard.
00:42:51And I think we're close.
00:42:52And Mr. Witkoff is talking constantly back and forth.
00:42:56He's a real professional.
00:42:57He's got a great relationship with both countries.
00:43:00And I think we have a good chance.
00:43:02And likewise, we're trying to work on Iran to get that solved
00:43:06without having to get into any bombing, as we say.
00:43:11Big bombing.
00:43:12I don't want to do that.
00:43:12I want them to work again.
00:43:14I want them to be very successful.
00:43:15Mr. President, thank you, Mr. President.
00:43:19Edward Lawrence from Fox Business.
00:43:21On the non-market barriers, how did you get the UK to bend?
00:43:24And what was the 11th hour deal or ask?
00:43:27Well, I think it was really just a part of the overall.
00:43:29I mean, they have so many things that are so good for them.
00:43:32It's going to be so good for the country.
00:43:33And that was sort of easy.
00:43:34It wasn't – we had non-market – I call it non-market or non-monet.
00:43:41No, I think the overall deal just worked out very well from their standpoint.
00:43:46They were willing to give that in order to get other things.
00:43:49And you might want to speak to that, Mr. Abbas.
00:43:52Look, the point about the deal is that we will continue reducing tariffs and non-tariff barriers.
00:44:03This is a continuing picture.
00:44:07It's a movie.
00:44:07It's not a still picture here.
00:44:09It's a movie.
00:44:09It continues.
00:44:10And we're both committed to freeing up trade between our countries.
00:44:15We're both committed to freeing up investment between our countries.
00:44:21And the point about this deal is that it provides a very good template and a very good launch pad
00:44:30for what we can continue to do and build on in the future.
00:44:33And that's what we're both determined to do.
00:44:35You know, many of – the men of the – well, we're going to say.
00:44:40That's between us.
00:44:42Many of these – we'll keep it confidential, right?
00:44:47How about just one more little thing, right?
00:44:49Well, it got the deal closed and it was handled very well from the other side, too.
00:44:53But many of these things that we're talking about – we've been talking about this for 25 years.
00:45:00It's hard to explain when – if you weren't sitting behind this beautiful
00:45:05resolute desk, you just wouldn't get it.
00:45:07I have been hearing about making a deal with UK for 25 years.
00:45:14And especially around the time of Brexit.
00:45:16They wanted to make a deal, so they came out of Brexit and they make a deal.
00:45:19And it was – how natural.
00:45:20And it just couldn't be done.
00:45:23It couldn't be done.
00:45:24Good people.
00:45:25And this is a bigger deal.
00:45:26This is a much bigger, better, stronger deal for both of us than we ever even contemplated before.
00:45:32It's a big deal.
00:45:33Virtually everyone said that it would end in failure.
00:45:36It would end in tears.
00:45:37And it's ended in exactly the opposite.
00:45:40Yeah.
00:45:40But, Mr. President, can I say that that is due to Secretary Lutnik and Ambassador Greer have been
00:45:47absolutely fantastic.
00:45:48But yesterday I received a call, a very diplomatic call that just edged things over the line.
00:45:55And that was from your new ambassador in the United Kingdom.
00:45:59Who is terrific.
00:46:00Warren Stevens, he's here.
00:46:02Where is Warren?
00:46:02Right here.
00:46:03Right here.
00:46:03Hello, Warren.
00:46:04Hello, Warren.
00:46:05He's flying to London tomorrow night.
00:46:08He's going to be very popular with the British people.
00:46:10He's going to be a very successful ambassador.
00:46:12And he's got plenty of cash.
00:46:21That guy has plenty of cash.
00:46:24We need some more big spenders.
00:46:29Go ahead.
00:46:30Are you planning to meet Ursula von der Leyen?
00:46:33Are you planning to meet Ursula von der Leyen, the President, or do you plan to cancel anytime soon?
00:46:39Oh, she's so fantastic, right?
00:46:42She's so fantastic.
00:46:43I hope we're going to meet.
00:46:44Yeah, the answer is yes.
00:46:46I saw her.
00:46:46Actually, I saw her a few days ago.
00:46:48And I think that we'll definitely meet, yeah?
00:46:52The European Union is a big thing.
00:46:54They want to make a deal very badly.
00:46:56You know, everybody wants to make a deal.
00:46:57Look, everybody wants to make a deal with the United States.
00:46:59And we're doing that.
00:47:00And we're making — we're going to make fair deals.
00:47:02I'm just honored that this was the first one.
00:47:04Go ahead, please.
00:47:05The Press the Federal Reserve Chairman — the Federal Reserve Chairman,
00:47:08Mr. President, says that you would have to call him for a meeting.
00:47:12Do you plan to meet on with him?
00:47:13And what do you think about him?
00:47:14The President is like talking to a wall.
00:47:16He should be —
00:47:17The Press the Bank of England cut today.
00:47:20The President is like talking to a wall.
00:47:20Well, the Bank of England cut.
00:47:21China cut.
00:47:22Everybody is cutting but him.
00:47:26It's — you know, I don't know.
00:47:27Let's — we'll see what happens.
00:47:29It's a shame.
00:47:30I call him Too Late, you know?
00:47:31Too Late Powell.
00:47:32That's his nickname.
00:47:33And it's a shame.
00:47:34It's ridiculous.
00:47:35So, meeting — he — he's always too late.
00:47:40But in this case, it's not going to matter that much because our country is so strong.
00:47:46We're so powerful in terms of economic strength and what we've done.
00:47:50And I'll tell you what, if we didn't have our first term, you wouldn't be — we created
00:47:54things in the first term.
00:47:55And we cut more regulations than any president in history.
00:47:59We cut the taxes more than anybody in history.
00:48:01And a very big factor is going to be the tax bill that we have right now — the one big,
00:48:05beautiful bill, as we call it — which is all-encompassing the biggest tax cuts
00:48:10ever in history — bigger than even the first time.
00:48:13And the incentives — even great for the UK because it'll make us so strong that we're
00:48:17going to be doing more business with you.
00:48:19It's a very important element for taxes, for every aspect — regulation cuts.
00:48:25That bill is — I believe it's the biggest bill of its kind ever in the history of this country.
00:48:32And Speaker Johnson and Leader Thune have done an incredible job.
00:48:38I mean, I'll let you know we have to get a vote, but we have a lot of support for that bill.
00:48:43And if that happens, on top of all of these trade deals that we're doing,
00:48:50this country will hit a point that you better go out and buy stock now.
00:48:55Let me tell you, this country will be like a rocket ship that goes straight up.
00:48:59This is going to be numbers that nobody's ever seen before.
00:49:03That's a very important element of all of this, you know, if we get that.
00:49:07If you don't — and the Democrats are fighting it only because they want to fight.
00:49:10They have Trump derangement syndrome, you know.
00:49:12If it was somebody else, they wouldn't fight.
00:49:14If you had a normal person — if you had some stiff sitting behind you, they'd be fine.
00:49:20But they have Trump derangement syndrome.
00:49:22Senator Schumer has become a Palestinian.
00:49:24He's welcome.
00:49:26I don't know when they're going to give him the ceremony,
00:49:29whatever the ceremony may be.
00:49:31It's terrible what's happened to the Democrats.
00:49:33So very, very important element of everything, of what we're doing.
00:49:40Unrelated to today, but related in the sense that we'll do — if that passes,
00:49:44we'll do even more business with the UK.
00:49:46We'll have so much.
00:49:48It's the biggest tax cut in history.
00:49:50It's going to make our country zoom.
00:49:53It's going to be incentive, as you know, with the
00:49:55deduction for — basically for work.
00:49:58Your work, your bill, your plant, et cetera, your deduction.
00:50:02It's going to be the biggest — it's the biggest bill of its kind to ever pass.
00:50:05Maybe the biggest bill ever passed.
00:50:07That's why we call it the one big beautiful bill.
00:50:09I'm surprised.
00:50:10I'm surprised.
00:50:10I'm surprised.
00:50:11I just announced a new nominee for the U.S. Surgeon General who
00:50:16never finished her residency and is not a practicing physician.
00:50:19So can you explain why you picked her to be America's top doctor?
00:50:21Well, she's a — yeah, because Bobbie thought she was fantastic.
00:50:24She's highly — she's a brilliant woman who went through Stanford.
00:50:29And as I understand it, she basically wanted to do — she wanted to be an academic as opposed to a surgeon.
00:50:34I think she graduated first in her class at Stanford.
00:50:39And Bobbie really thought she was great.
00:50:42I don't know her.
00:50:43I listened to the recommendation of Bobbie.
00:50:44I met her yesterday and once before.
00:50:47She's a very outstanding person.
00:50:49A great academic, actually.
00:50:51So I think she'll be great.
00:50:52I'm just wondering, Mr. President, Bob,
00:50:54you're a nominee for U.S. Attorney of D.C.
00:50:57Do you have a backup plan if this Senate does —
00:50:59Yeah, but he's a terrific person. And he wasn't getting the support from
00:51:05people that I thought — you know, he's done a very good job.
00:51:07Crime is down 25 percent in D.C. during his period of time.
00:51:12I'm very disappointed in that.
00:51:14But I have so many different things that I'm doing now with the trade.
00:51:18You know, I'm one person.
00:51:19I can only make — boom — I can only lift that little phone so many times in a day.
00:51:24But we have somebody else that will be great.
00:51:28I just want to say, Ed is unbelievable.
00:51:30And hopefully we can bring him into — whether it's DOJ or whatever — in some capacity,
00:51:37because really outstanding.
00:51:38It was — to me, it was disappointing, I'll be honest.
00:51:40I have to be straight.
00:51:41I was disappointed.
00:51:42A lot of people were disappointed.
00:51:44But that's the way it works sometimes, you know.
00:51:47That's the way it works.
00:51:47And he wasn't rejected, but we felt it would be very — it would be hard.
00:51:52And we have somebody else that we'll be announcing over the next two days who's going to be great.
00:51:58So, with companies like Ford and Mattel — with companies like Ford and Mattel recently saying
00:52:01they're going to raise prices on certain products, how long do you think the American public is going to be patient and pay for your —
00:52:07Yeah.
00:52:07Well, I don't think — I think they're saying that just to try and negotiate deals with me.
00:52:11But they're not.
00:52:12The tariffs are the most misunderstood thing, maybe in any form of business — anywhere in business.
00:52:20Oftentimes, the country picks them up.
00:52:22Oftentimes, the company picks it up.
00:52:24The people don't pick it up, okay?
00:52:26The people don't pick it up.
00:52:27And if Ford did that, they wouldn't sell any cars.
00:52:29And if Mattel — I don't know, some — I'm not so sure — they also said — they're the only country
00:52:35I've heard — they said, well, we're going to go counter.
00:52:37We're going to try going someplace else.
00:52:38That's okay.
00:52:39Let him go, and we'll put a 100 percent tariff on his toys.
00:52:43And he won't sell one toy in the United States, and that's their biggest market.
00:52:47I heard that.
00:52:48I mean, I watched this guy talking about how I'm going to go counter.
00:52:50I said, well, I wouldn't want to have him as an executive too long.
00:52:55The Ford people I know very well — what they're doing is negotiating with us by saying that.
00:53:00But we don't think that's going to happen.
00:53:01Look, I put out a truth today, and it said that gas is down, gasoline is down, energy is down,
00:53:09groceries are down, eggs are down.
00:53:11I mean, eggs, thank you very much.
00:53:13But eggs are down.
00:53:14When I came in the first week, you guys hit me with eggs.
00:53:18I said, what the hell happened with eggs?
00:53:20Eggs were up like 170 percent and going up.
00:53:23And they said, don't order any for Easter.
00:53:26And we were thinking about ordering plastic eggs like everybody was doing.
00:53:30And Brooke did a fantastic job — agriculture.
00:53:33Brooke did a fantastic job.
00:53:35And we had hundreds of thousands of eggs out here on the lawn just two weeks ago at Easter.
00:53:41And — but you take a look at the cost.
00:53:43Energy is down.
00:53:45Even interest rates are down.
00:53:46Now, if the chairman of the Fed, Jerome — if he would lower interest rates like China did,
00:53:56like I think UK did, but like numerous other countries have done — it would be — it's like
00:54:00jet fuel.
00:54:01It would be great.
00:54:02But he doesn't want to do it.
00:54:03I think he doesn't want to do it.
00:54:05Probably he's not — he's not in love with me.
00:54:08I think that's — it's sort of a crazy reason.
00:54:11But that's the way life is.
00:54:13Anybody in his position would be — it would be like jet fuel.
00:54:18But even without that, we're doing well.
00:54:20But remember this.
00:54:21You know, I've watched you people reporting over the last few months that
00:54:24if we do this, you know, prices are going to go through.
00:54:27Well, groceries are down.
00:54:30All of this stuff is down.
00:54:32Lumber is down.
00:54:34Oil is gone down.
00:54:36I mean, we have that thing broke 60, right?
00:54:38Sixty dollars a barrel.
00:54:40And 98 — $1.98, $1.99 in some cases.
00:54:45And heading — and heading in that direction.
00:54:49Now, I think it's been amazing, actually.
00:54:51You know, and what that's good for, it gives the consumer more money.
00:54:55And it gives them a better life.
00:54:56Because we just came out of the worst inflation, in my opinion, in the history of our country.
00:55:00They say 48 years.
00:55:02But Biden really screwed it up.
00:55:03He screwed up energy.
00:55:04And he also paid — he spent too much money.
00:55:06He was spending it on, you know, a Green News scam.
00:55:09And that's like throwing the money.
00:55:10See that beautiful window behind?
00:55:12Take money, throw it right out that window.
00:55:14Because it's the same thing.
00:55:15He just — he spent — he spent — he spent $10 trillion.
00:55:20He wasted it.
00:55:21Not only was it bad, it was — it was a negative.
00:55:23It wasn't even like it helped a little bit.
00:55:25It was a real negative.
00:55:27And then on top of it, they let 21 million people into our country without
00:55:31any identification, any — anything.
00:55:33Just let them in.
00:55:34It's very — very sad.
00:55:35Well, we'll do one or two more.
00:55:36The Press.
00:55:37The Press.
00:55:38The Press.
00:55:39The Press.
00:55:40The Press.
00:55:41The Press.
00:55:42The Press.
00:55:43The Press.
00:55:44Go ahead.
00:55:44Who are you with?
00:55:45I'm with the Daily Telegraph now.
00:55:46You know me from a —
00:55:47The The Press.
00:55:47The The Press.
00:55:48The The Press.
00:55:49The The Press.
00:55:49The The Press.
00:55:50The Press.
00:55:51The Press.
00:55:52The The Press.
00:55:52The The Press.
00:55:52The The The Press.
00:55:54The The Press.
00:55:55arms.
00:55:56Now, how concerned are you about the U.K.'s reliance on China?
00:55:56The Chinese money and the money markets — Chinese exports — —
00:55:57And —
00:55:58The We're not concerned.
00:55:59Is that something in case…
00:56:00Hold on.
00:56:00The The Press.
00:56:01The The Press.
00:56:02You know, honestly, I'm not concerned about anything.
00:56:03If I was, I wouldn't even be here right now.
00:56:04If I was concerned about anything — and it wouldn't be that —
00:56:07but I wouldn't be here right now.
00:56:09No, we're not concerned.
00:56:10We're going to have, I believe, a very good relationship
00:56:12with China and a fair relationship.
00:56:14And it'll get bigger, and it'll grow. It'll grow.
00:56:17As an example, if they open up the country,
00:56:20that'll be the best thing China ever did for itself.
00:56:22They don't know that yet because, you know,
00:56:24it's been a different system.
00:56:27But that'll be the greatest thing
00:56:28that ever happened to China.
00:56:29The people will be happier. They'll buy for less.
00:56:32They'll see things that they never saw before,
00:56:34and they'll be buying them.
00:56:36And it'll really create great, long-term peace.
00:56:40The Pressure on the Agriculture Secretary, actually,
00:56:43there's a lot of concern about chlorinated chicken
00:56:45and the imported warm-made and treated beef.
00:56:47Has that question been addressed, resolved in these talks,
00:56:50or is that something for the continuing negotiations?
00:56:52Mr. Well, I would just say that it's very clear,
00:56:56and we have in the heads of terms,
00:56:58that we are going to discuss all of these types of issues.
00:57:01And obviously, the importing country, whether it's us or them,
00:57:04you've got to follow the rules on those types of things.
00:57:05But our point is, the rules need to make sure
00:57:07that they are based on science.
00:57:09And that's our expectation.
00:57:10We know the U.K. believes that, too.
00:57:12So we want to come to an accommodation.
00:57:14We want the consumers in each country
00:57:15to be able to choose what they want
00:57:17and give them the information that they want.
00:57:18Ms. Okay.
00:57:19The Pressure on the agenda.
00:57:20Ms. And we have an incredible EPA, led by Administrator Zeldin,
00:57:21that is on this.
00:57:23So the talks continue.
00:57:24But we are very, very confident in our products.
00:57:27And what the President has done to open up the markets,
00:57:30is unprecedented for these farmers here in America.
00:57:34The Pressure on Wall Street, as they watch this,
00:57:37you saw the stock market decline sharply
00:57:40after the graduation day and rally back since then.
00:57:43The President Well, now it's going to really rally.
00:57:44Because, you know, don't forget, they said,
00:57:45this is all a pipe dream.
00:57:47And this is a tough one.
00:57:48This is — somebody would say, well, this is easy.
00:57:50This is much tougher, I think, than any other deal.
00:57:52Because they've been at it for so many years, decades,
00:57:55trying to make this deal.
00:57:57And it's very conclusive, and it's a great deal.
00:57:59And it's a very big deal, actually.
00:58:01No, this is just the beginning.
00:58:03We're going to be having conferences,
00:58:05or at some point we won't have — we'll just put out a statement
00:58:09that we just signed this country, that country.
00:58:11And after a number of these are done,
00:58:14nobody has enough people to do it.
00:58:16We're just going to put out,
00:58:17X country is going to pay this.
00:58:19And if they open up, they're going to do this and that and that.
00:58:22And they're going to be open up.
00:58:23Everybody wants to be here.
00:58:24You know, I say this is where they want to be shopping.
00:58:27They want to shop in this country, because we have the consumer.
00:58:31And we have the consumer like nobody else.
00:58:33And, you know, if this country went bad,
00:58:37the whole world would go bad.
00:58:39But we really — but we really saved it from going bad.
00:58:43Yeah, please.
00:58:43The Pressure to ask you about the air traffic control issue.
00:58:45Are you looking at getting new software?
00:58:47The President Trump I'm glad you asked me about it,
00:58:48because I'm just going to be talking to now
00:58:50with the heads of the airlines and everything else.
00:58:52So I was all set before we had the rigged election
00:58:56to give out a brand new, gorgeous system
00:58:58to one company that was going to do the whole thing.
00:59:01One of the best companies in the world that you know very well.
00:59:03You know, there are three or four of them that do it.
00:59:06And when they took over, Buttigieg, who has no clue.
00:59:10You know, he drives to work on his bicycle with his —
00:59:12with his — in all fairness, with his husband on the back,
00:59:15which is a nice, loving relationship.
00:59:17But he didn't have a clue.
00:59:20This guy didn't have a clue.
00:59:22And he's actually a contender for president.
00:59:23Between him and Crockett, you can have that party.
00:59:27But he didn't have — he didn't know what he was doing.
00:59:30And he took what they call dry systems —
00:59:33systems where you have wires in the earth,
00:59:36buried in the earth or whatever.
00:59:38And then you have the open-air systems
00:59:40where you have satellites.
00:59:42And you can't mesh them.
00:59:44Anybody would know that if you went through
00:59:45about two months of study in school,
00:59:48if you studied that kind of thing.
00:59:49And he — he did.
00:59:52They spent tens of billions of dollars
00:59:54trying to take old, broken equipment
00:59:59and merging it into existing new equipment
01:00:03with brand-new equipment.
01:00:05It's one of the greatest —
01:00:06because they spent like $40 billion.
01:00:08And what they did is they made it worse.
01:00:12Because it doesn't work together.
01:00:15You can't make it work together.
01:00:16If you have a satellite system, you need satellite.
01:00:18If you don't — they had all these different technologies,
01:00:22some of them 50 years old,
01:00:24and they're trying to mesh them in.
01:00:26And they end up spending twice the money they should've —
01:00:28you could've bought a whole new system.
01:00:31So we have a very good guy who you all know.
01:00:33Sean Duffy is head of transportation.
01:00:35And I've given him a 10-minute lesson in buying,
01:00:39and he's become really good.
01:00:41And we are now in the market to buy a gorgeous,
01:00:44brand-new system.
01:00:46The helicopter that crashed into the plane at 400 feet,
01:00:49it shouldn't have been.
01:00:49What would've happened is all sorts of bells and sirens
01:00:52would've been going off three minutes
01:00:55before that accident happened,
01:00:56if you had the right equipment.
01:00:57But they didn't.
01:00:59And the new equipment is unbelievable, what it does.
01:01:02You can have — you don't even — well, I was going to say something,
01:01:05but you always — in my opinion, you always need pilots.
01:01:08I want pilots.
01:01:09But you wouldn't even have to have pilots.
01:01:11This system is so incredible, what they can do.
01:01:14But we have a system that's obsolete.
01:01:15And what they did is the worst.
01:01:18They tried to combine the really old,
01:01:20broken stuff with the new stuff.
01:01:21And you can't combine it, and anybody should've known.
01:01:24So, Biden — do you think Biden figured this out?
01:01:27I don't think so, fellas.
01:01:28Do you think he has any clue?
01:01:30He doesn't know what the hell is happening.
01:01:31So, here's the story.
01:01:32We're going to be buying a brand new —
01:01:34it's going out to bid very soon —
01:01:36brand new, state-of-the-art system
01:01:38that will cover the entire world.
01:01:40I'll give you an example.
01:01:41When my pilot — now, I have military pilots,
01:01:45but prior to that, I have very good pilots, great pilots.
01:01:48They would land — and I won't tell you which country,
01:01:50but they would use the system of another country.
01:01:53They wouldn't even use the system of the United States.
01:01:55So, if I'm landing in New York or Florida or Tennessee,
01:01:59they're using a system from another country.
01:02:02I said, why is that?
01:02:05And they were — you know, they're not into business,
01:02:07but they're just saying, our system doesn't work, sir.
01:02:10And I said, boy, that's pretty sad.
01:02:12But we were all set to give it out to — you know, look,
01:02:14you have a Raytheon, and you have different companies like that —
01:02:18numerous companies.
01:02:19And you have companies that would do it, like an IBM, as an example.
01:02:22But — and you give out one deal, one contract.
01:02:26They gave out hundreds of contractors.
01:02:29They had diggers.
01:02:31They had non-diggers.
01:02:32They had people that focused on satellites.
01:02:34They had hundreds of different contracts.
01:02:37One contract where one guy is controlling everything.
01:02:40You need a trench, then they dig a trench.
01:02:43But if you don't dig the trench, you don't blame you.
01:02:45What happens is you don't dig it.
01:02:46Then they say, we want a cost-off run.
01:02:48Now, we have it all set, and we're going to be doing it.
01:02:51We would have done it, except that the election
01:02:53took a little strange turn.
01:02:56But the second one didn't.
01:02:57That was too big to rig.
01:02:58Thank you very much, everybody.
01:03:01Thank you very much.