President Trump holds a press briefing to promote a new Executive Order to lower pharmaceutical costs, and takes reporters' questions following the announcement of a U.S.-China trade deal.
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00:00:00Thank you very much. Thank you, everybody. It's a big day. It should be fun. I don't
00:00:16know. You'll maybe find reasons why it's not. But I can't imagine, because we have
00:00:20a lot of great things happening. It's been a very strong week and a very strong weekend.
00:00:28Before we begin, let me say a few words about the historic events that took place over the
00:00:33last few days. On Saturday, my administration helped broker a full and immediate ceasefire,
00:00:40I think a permanent one, between India and Pakistan, ending a dangerous conflict of two
00:00:47nations with lots of nuclear weapons. And they were going at it hot and heavy, and it was
00:00:53seemingly not going to stop. And I'm very proud to let you know that the leadership of
00:01:03India and Pakistan was unwavering, powerful, but unwavering in both cases. Having these,
00:01:11they really were, from the standpoint of having the strength and the wisdom and fortitude to
00:01:15fully know and to understand the gravity of the situation. And we helped a lot. And we
00:01:24helped also with trade. I said, come on, we're going to do a lot of trade with you guys. Let's
00:01:29stop it. Let's stop it. If you stop it, we're doing trade. If you don't stop it, we're not
00:01:34going to do any trade. People have never really used trade the way I used it, that I can tell
00:01:39you. And all of a sudden, they said, I think we're going to stop. And they have. And they
00:01:45did it for a lot of reasons. But trade is a big one. We're going to do a lot of trade
00:01:51with Pakistan. We're going to do a lot of trade with India. We're negotiating with India right
00:01:55now. We're going to be soon negotiating with Pakistan. And we stopped the nuclear conflict.
00:02:00I think it would have – it could have been a bad nuclear war. Millions of people could
00:02:04have been killed. So I'm very proud of that. I also want to thank Vice President Vance and
00:02:09Secretary of State Rubio for their work and efforts. They worked very hard on that.
00:02:16We also, as you know, created a situation where the Houthis, for the first time ever, have
00:02:25ceased firing. And they've let it be known that they're not going to be firing at American
00:02:31ships anymore, not going to be firing at Americans anymore. This was a heavy barrage that lasted for
00:02:38approximately 50 days. And as you know, they've been in war essentially for forever. But over
00:02:47the last 10 years, they've been very difficult for other countries. Nobody was able to do what
00:02:54we did. But they stopped, and we take their word for it today. Their surrogates and them
00:03:00directly said, we don't want to do this anymore. And so we were satisfied with that.
00:03:08In addition, yesterday we achieved a total reset with China after productive talks in Geneva.
00:03:16Both sides now agree to reduce the tariffs imposed after April 2nd to 10 percent for 90 days as
00:03:24negotiators continue on the larger structural issues. And I want to tell you that a couple of
00:03:31things – first of all, that doesn't include the tariffs that are already on, that are our tariffs.
00:03:36And it doesn't include tariffs on cars, steel, aluminum, things such as that, or tariffs that may
00:03:43be imposed on pharmaceuticals, because we want to bring the pharmaceutical businesses back to the United States,
00:03:50and they're already starting to come back now based on tariffs, because they don't want to pay 25, 50,
00:03:55or 100 percent tariffs. So they're moving them back to the United States. I spoke to Tim Cook this
00:04:01morning, and he's going to, I think, even up his numbers, $500 billion. He's going to be building a
00:04:10lot of plants in the United States for Apple. And we look forward to that. I really do look forward to that. But
00:04:21the talks in Geneva were very friendly. The relationship is very good. We're not looking
00:04:26to hurt China. China was being hurt very badly. They were closing up factories. They were having
00:04:31a lot of unrest. And they were very happy to be able to do something with us. And the relationship
00:04:39is very, very good. I'll speak to President Xi maybe at the end of the week. We have some other
00:04:44things we're doing. But one of the biggest things that we're doing, and I don't know if
00:04:50people realize this, but we made a great deal with China, a great trade deal.
00:04:56But it was a much bigger deal originally, and then they canceled it right in the last day.
00:05:00Some of you faces, I remember, were there when that happened. I remember you.
00:05:07And we had a deal where they opened up their country to trade with the United States.
00:05:11And they took that away at the last moment. And then I canceled the whole thing. And then six
00:05:15months later, we ended up doing a smaller deal. But it was a big deal. It was $50 billion
00:05:18worth of product that they were going to purchase from our farmers, et cetera.
00:05:24And we agreed to that. People thought it was $15, because they were doing $15. We made it $50,
00:05:29because I misunderstood the $15. I thought they said, I said, you got to get $50. Because when I
00:05:35asked, if you remember the story, when I asked what are we doing with them, my secretary of agriculture
00:05:41at the time, Sonny Perdue, said, sir, it's about $15 billion, and we're asking for $15. And I thought
00:05:48he said, $50. So I said, so they came back with the deal at $15. And I said, no way,
00:05:53I want $50, because you said $50. And they said, sir, we didn't say that anyway. Bottom line,
00:05:58I said, go back and ask for $50. And they gave us $50. And they were honoring the deal. And we would
00:06:02call them up a lot for the corn and for the wheat and for everything. They were honoring the deal.
00:06:10And then when Biden got in, they no longer honored the deal. There was nobody to call.
00:06:16I would call on an average of once every two weeks to say, come on, you have to speed it up a little
00:06:20bit. And our farmers were doing great. I said to them, buy more land and bigger tractors,
00:06:26if you remember. That's what happened. But the deal was a very good deal. But
00:06:32the best part of the deal was that we opened up China. China agreed to open itself up to American
00:06:40business to go in. And it would have been a great thing, I think, for China. They would be able to
00:06:47see things that they haven't seen. They would be able to buy products that they have never
00:06:51been able to buy. Would have been great for American business. I think it would have brought
00:06:55unity between China, better unity between China and the United States. And the bottom line is that
00:07:02they canceled it the last day. We were all set to sign it. And I went a little bit angry. I got a
00:07:08little angry. They said they canceled the deal. The deal was done. It was all ready to be signed. And
00:07:15people went over. They came back to me, sir, they don't want to sign the opening up China. Well,
00:07:20the biggest thing that we're discussing is the opening up China. And they've agreed to do that.
00:07:24But it's going to take a while to paper it. You know, that's not the easiest thing to paper.
00:07:30But that's the single, I think, to me, some people would disagree. Some people would say,
00:07:34we're getting a lot of money with tariffs or whatever. But, you know, especially when you add
00:07:38what we already have. Because remember, we're already getting the 50% on steel and different things.
00:07:44That's not included in these numbers. So you can add that. But the biggest thing to me is the
00:07:51opening up. I think it would be fantastic for our businesses if we could go in and compete
00:07:56and compete with China. It would be a lot of jobs for China. It would be, I think, at a time when
00:08:01they can, frankly, use the jobs. And that's what we're talking about. So that's a very, very important
00:08:08element to add. So when Scott – I watched him speak the other day, and I think he didn't want to
00:08:17say it. But I said, it's okay to say it. Look, if we don't get it, we don't get it. But if we don't
00:08:20get it, it won't be a positive thing. But if we do get it, I think it's maybe the most important
00:08:27thing to happen. Because if you think about it, we opened up our country to China. They come – we
00:08:32don't – I mean, they have very few restrictions. And they didn't open their country to us. Never made
00:08:37sense to me. It's not fair. And they've agreed to open China, fully open China. And I think it's going to be
00:08:45fantastic for China. I think it's going to be fantastic for us. And I think it's going to be
00:08:49great for unification and peace. China will also suspend and remove all of its non-monetary barriers.
00:08:57They've agreed to do that while they're very numerous. But again, to me, the biggest thing that
00:09:05came out of that meeting is they've agreed – now we have to get it papered, but they've agreed to open
00:09:09up China. It's going to be great for everybody. And third, I'm very happy to announce that
00:09:17Edan Alexander, an American citizen who, until recently, most thought was no longer living,
00:09:24thought was dead, is going to be released in about two hours, actually. And he's going to be
00:09:32released before the eyes of Steve Whitcoff, who has done a fantastic job. I just, you know,
00:09:41I know a lot of people. They have a lot of talent. I know Steve. He had a lot of talent.
00:09:45But I know a lot of people with a lot of talent. But I had – there's one that I thought had a special
00:09:50way about him, a special personality, aside from being a good dealmaker. I had a special way about
00:09:58him. And it was Steve – knew very little about the subject matter. Who does? But he learned it in
00:10:03about two hours. And he's been fantastic. So I want to just thank Steve. But they're going to be
00:10:10releasing Edan in about two hours from now, or sometime today, let's say. And again,
00:10:20they thought he was dead just a short while ago. His parents are so happy. They're so happy.
00:10:25So it's, as you know, Edan's the only American citizen. He's captured. And held hostage by
00:10:36Hamas since October 7th, 2023. And he's coming home to his parents, which is really great news. I mean,
00:10:45to me, it's big news. They thought he was dead. So that's that. So we'll be heading there. And we'll be
00:10:56seeing three primary countries. You know all about that – Saudi Arabia, UAE, Qatar. On Thursday's meeting
00:11:05with Russia and Ukraine is very important. I was – I was very insistent that that meeting take place.
00:11:12I think good things can come out of that meeting. Stop the bloodshed of the horrible – it's a blood
00:11:19bath. But 5,000 more. It's really much more – I'm trying to be conservative – more than 5,000
00:11:27soldiers. Russian – they're not American soldiers. They're from Russia. They're from Ukraine. But
00:11:31they're people. They're human souls. And they're being killed at levels that we haven't seen since
00:11:37the Second World War. And it's every week. A lot of drone fighting. It's a whole new form of warfare,
00:11:44and it's violent and vicious. And so that's it. I'd like to go back to China just for a second.
00:11:53They're very heavy on the fentanyl. We're charging them, as you know, 20 percent for
00:11:58the fact that they send fentanyl into our country. And they've agreed that they're going to stop that.
00:12:03And, you know, they'll be rewarded by not having to pay, you know, hundreds of billions of dollars
00:12:10in tariffs. So the fentanyl should stop. It comes from China. It's amazing. And it comes through our
00:12:18southern border. It comes through our northern border, too. It comes through Canada. And it comes
00:12:22through our southern border – much more through the southern border. But so that's a very important
00:12:29subject to me. Because everybody in this room has lost friends or people that have family members that
00:12:36have died of fentanyl. So there's a big incentive for China to stop. And I take them at their word.
00:12:43They're going to work on that, I think, very hard. And one thing – when they work on something,
00:12:46they get it done. So now I'm about to depart on a historic visit. Some of you are going with us
00:12:53to, as I said, Saudi Arabia, Qatar, and United Arab Emirates. Before I do, I'll sign one of the most
00:13:01consequential executive orders in our country's history. I don't think there's ever been anything
00:13:05signed like this, certainly not with respect to health care, nothing even close. I'm delighted
00:13:11to be joined on this occasion by Secretary of Health and Human Services, Robert F. Kennedy, Jr.,
00:13:17who is doing a really good job, I have to tell you that. A CMS administrator, a friend of mine,
00:13:22Dr. Mehmet Oz, who is an amazing guy. You know, I was telling Bobby before, Oz had a very successful
00:13:34show, but it hurt his reputation. Because when you're in show business, it hurts your reputation
00:13:38a little bit. It's good for you. It's good for you. But in terms of professionalism and being a doctor,
00:13:43it sort of hurts your reputation. This guy went to the best schools, was the best, I mean, top,
00:13:49top, top of the line. Then he did a television show, became a success. Made a lot of money,
00:13:54all that stuff. But it sort of hurt him. And you know who I compare that to? I hate to say this,
00:14:00but a special woman, Janine Pirro. She was the toughest, smartest DA, maybe in our countries,
00:14:07in our cities and states, history, New York. She was really tough, really tough. Then she did a show.
00:14:16Then people didn't think of it quite the same way. She became more of an entertainment person,
00:14:20like Oz. Oz is not an entertainer. He's not really an entertainer. You know the real story.
00:14:25And she isn't either. She is unbelievable. She was one of the strongest district attorneys in the
00:14:32history of New York. Highly respected. Very tough. Went after the drug dealers at a level that you don't
00:14:41see today anymore. And hopefully she's going to be, she's given up a tremendous, she's leaving the
00:14:46number one show on cable television. One of the number one shows on television, period.
00:14:51The Five. But they've got great people left behind. But she was a big part of it.
00:14:56And so I equate it to that. Janine Pirro is unbelievable.
00:15:01FDA Commissioner Dr. Marty McCary, with a reputation that's second to none. And the job he's doing
00:15:06already has been fantastic. Thank you, Marty. And Director of National Institute of Health,
00:15:13Jay Bhattacharya, who has been, as you know from Stanford, so highly regarded and have all been
00:15:21working with us very hard on this. And the question they would ask, being a little bit new to the
00:15:26government aspect of it, is why hasn't, why doesn't somebody fight the drug price situation,
00:15:32meaning equalization? There's a term, it's called equalization. Nobody wants to mention that term.
00:15:37And I'm not knocking the drug companies. I'm really more knocking the countries than the drug
00:15:42companies, because they're forced to do things. But the drug lobby is the strongest lobby in this
00:15:51country, they say, the drug lobby. It's between that and lawyers. And they have a lot of power. But
00:15:59starting today, the United States will no longer subsidize the health care of foreign countries,
00:16:03countries, which is what we were doing. We're subsidizing others' health care. Countries where
00:16:08they paid a small fraction of what – for the same drug that what we pay many, many times more for,
00:16:16and will no longer tolerate profiteering and price gouging from Big Pharma. But again,
00:16:22it was really the countries that forced Big Pharma to do things that, frankly, I'm not sure they really
00:16:29felt comfortable doing. But they've gotten away with it, these countries. The European Union
00:16:34has been brutal, brutal. And the drug companies actually told me stories. It was just brutal how
00:16:39they forced them. And the European Union is suing all our companies, Apple, Google, Meta. They're suing
00:16:49all our companies. They end up – they have judges that are European Union-centric. And they get
00:16:58rewarded $15 billion, $17 billion, $20 billion. And they use that to run their operation.
00:17:07It's not going to happen any longer, that I can tell you. So what's been happening is we've been
00:17:12subsidizing other countries throughout the world, not just in Europe, throughout the world. European Union
00:17:18was the most difficult, from what I understand. I mean, I'll tell you a story. A friend of mine
00:17:22who's a businessman, very, very, very top guy. Most of you would have heard of him. A highly neurotic,
00:17:31brilliant businessman, seriously overweight. And he takes the fat shot drug. And he called me up and he
00:17:42said, President – he calls me – he used to call me Donald, now he calls me President. So that's nice
00:17:47respect. But he's a rough guy, smart guy. Very successful, very rich. I wouldn't even know how we
00:17:54would know this, but – because he's got comments. He said, President, could I ask you a question? What?
00:17:58I'm in London. And I just paid for this damn fat drug I take. I said, it's not working. He said,
00:18:06he said, I just paid $88. And in New York, I paid $1,300. What the hell is going on?
00:18:16He said, so I checked. And it's the same box made in the same plant by the same company. It's the
00:18:25identical pill that I buy in New York. And here I'm paying $88 in London. In New York, I'm paying
00:18:33$1,300. Now, this is a great businessman, so – but he's not familiar with this crazy situation that we
00:18:40have. But he was stunned. But it was just one of those stories. And I brought it up with the drug
00:18:47companies, represented by somebody who's very, very smart, good person too. And we argued about it
00:18:53for about half hour. And then finally, he just said – because they can't justify it – he just said,
00:18:59look, you got me. You got me. I can no longer just – they've been justifying this crap for years.
00:19:07They said, oh, it's research and development. Well, I said, well, research and development – other
00:19:11countries should pay research and development too. It's for their benefit. It was just one of
00:19:15those things. And the other countries would set a price, and they'd meet the price. And they'd say,
00:19:21if you don't meet the price, you can't sell it in our country. I said, well, then you walk away.
00:19:26And they'll call you back, and they'll sell it in the country. But now they'll have to do that.
00:19:31So for the first time in many years, we'll slash the cost of prescription drugs. And
00:19:35we will bring fairness to America. Drug prices will come down
00:19:40by much more, really, if you think, 59. If you think of a drug that is sometimes 10 times more
00:19:47expensive, it's much more than the 59 percent. It depends on the way you want to analyze it. But
00:19:53in one way, you could analyze it that way. But between 59 and 80, and I guess even 90 percent.
00:19:59So when I worked so hard in the first term, and if I got prices down – remember, I was the only
00:20:06one to ever get prices down for a full year – but I'd get them down like 2 percent, and I thought it was
00:20:11like a big deal. Well, we're getting them down 60, 70, 80, 90 percent, but actually more than that,
00:20:19if you think about it, in a way – mathematically. And Farmer has to say, we're sorry, but we'll
00:20:27not be able to do this any longer to these countries that have been so tough. They've been very tough,
00:20:34nasty. It's trade. It's trade. And Farmer is also very powerful. And the Democrats have protected Farmer.
00:20:43The Democrats – this is the Democrats have protected Farmer. These are the Democrats. And by the way,
00:20:48I just called the Speaker of the House, and I just called the leader – our leader in the Senate,
00:20:57John Thune, Mike Johnson – spoke to both of them. I said, when you score, you're going to have to
00:21:03score two things. You're going to have to, number one, score that hundreds of billions of dollars of
00:21:08tariff money is coming in. But even bigger than that, you're going to have to score that
00:21:12your cost for Medicaid and Medicare and just basically pharmaceuticals and drugs is going
00:21:19down at a level that nobody has ever seen before. It'll pay for the Golden Dome. I see the Golden
00:21:27Dome is there, see? That'll easily pay for the Golden Dome. And we'll have a lot of money left over.
00:21:34We need the Golden Dome, by the way, in this world. Although this world's a lot safer today than it was a
00:21:40week ago, and a lot safer than it was six months ago. We had people that had no clue what they were
00:21:45doing. So today Americans spend 70 percent more for prescription drugs than we spent in the year 2000.
00:21:54Think of that. Our country has the highest drug prices anywhere in the world by sometimes a factor
00:22:01of five, six, seven, eight times. It's not like they're slightly higher, that six, seven, eight times,
00:22:07there are even cases of ten times higher. So that you go ten times more expensive for the same drug,
00:22:14that's big numbers. Even though the United States is home to only four percent of the world's population,
00:22:20pharmaceutical companies make more than two-thirds of their profits in America. So think of that.
00:22:25With four percent of the population, the pharmaceutical companies make most of their money,
00:22:31most of their profits from America. That's not a good thing. Now, I think, by the way, pharmaceutical,
00:22:38I have great respect for these companies and for the people that run them. I really do.
00:22:43And I think they did one of the greatest jobs in history for their company, convincing people for
00:22:48many years that this was a fair system. Nobody really understood why, but I figured it out. For years,
00:22:57pharmaceutical and drug companies have said that research and development costs were what they are.
00:23:04And for no reason whatsoever, they had to be born by America alone. Not anymore, they don't.
00:23:12This means American patients were effectively subsidizing socialist health care systems
00:23:18in Germany, in all parts of the European Union. They were the toughest of all. They were nasty.
00:23:26And I see that. I see that with trade, too. The European Union is, in many ways, nastier than China.
00:23:33Okay? And we've just started with them. Oh, they'll come down a lot. You watch.
00:23:41We have all the cards. They treated us very unfairly. They sell us 13 million cards. We sell them none.
00:23:48They sell us their agricultural products. We sell them virtually none. They don't take our products.
00:23:59That gives us all the cards. And very unfair. So they're going to have to pay more for health care,
00:24:04and we're going to have to pay less. That's all it is. And believe it or not, you know, because it's
00:24:08really the world we're talking about, not just the European Union. But because it's the world, the
00:24:13numbers are – the numbers are, for the health care company, not as bad as you would think. They'll
00:24:19make the same. I think the health care companies should make pretty much the same money. I really
00:24:24don't believe they're going to – they should be affected very much, because it's just a redistribution
00:24:30of wealth. It's a redistribution where it could be the same top line, but it's going to be distributed
00:24:35differently. Europe's going to have to pay a little bit more. The rest of the world's going to have
00:24:39to pay a little bit more, and America's going to pay a lot less. Again, because we – it's a much
00:24:43smaller population than when you think of the whole world. So basically what we're doing is equalizing.
00:24:53There's a new word that I came up with, which I think is probably the best word. We're going to
00:24:56equalize. We're all going to pay the same. We're going to pay what Europe's going to pay. We're going
00:25:01to all pay. Now, there may be some countries in dire need, and I would be willing to sacrifice that
00:25:09and help them. But it's called Most Favored Nation. We are going to pay the lowest price there is in
00:25:14the world. We will get – whoever is paying the lowest price, that's the price that we're going to
00:25:21get. So remember that. So we're no longer paying ten times more than another country. Whoever is paying
00:25:27the lowest price, we will look at that price, and we will say that's the price we're going to pay.
00:25:33Most favored nations is what it is. One breast cancer drug costs Americans over $16,000 per bottle,
00:25:44but the same drug from the same factory manufactured by the same company is one-sixth that price in
00:25:54Australia, and one-tenth that price in Sweden – one-tenth for the identical product.
00:26:03A common asthma drug costs almost $500 here in America, but costs less than $40 in the United
00:26:10Kingdom. So $40 in the United Kingdom, which is where this gentleman told me he paid a small amount for
00:26:17his shot. But think of that. So $40 versus $500 here. That's not even better. Much worse examples.
00:26:28And the weight loss drug, Ozempic, costs ten times more in the United States than in the rest of the
00:26:35developed world. Ten times more. Why? Why? What did we do? Suckers. But we never had a president that
00:26:43had the courage to do this. And nobody knew the system like I do. I mean, I've gotten to know this
00:26:49system so well. And I don't think it's fair that it benefits Obamacare. Obamacare is a failure. It's
00:26:56not a good healthcare. It works. I made it work. I had an obligation to make it work, or an obligation to
00:27:05let it die. I chose that we had to make it work. I had to make it as good as possible.
00:27:09And I had a choice. I could have let it fail, or make it as good as possible. As good as possible
00:27:17means it was still not very good, but it survived. And we did the right thing. But this makes it,
00:27:23this makes everything work. And I don't want to have a bad form of healthcare work because of the fact
00:27:31I was able to cut drug prices by 80 or 90%. So we're going to maybe come up with something. I think this
00:27:37gives the Republicans a chance to actually do a healthcare that's much better than Obamacare
00:27:42and for less money, which you guys would work on that along with Congress. But I do want to say that
00:27:49Democrats could have done this a long time ago. They have fought like hell for the drug companies,
00:27:54and they knew they were doing the wrong thing. And it's going to be very hard. I was just telling
00:27:59the leader and the speaker that how to, it's going to be very hard for the Democrats to vote against the
00:28:05one big beautiful deal. The greatest tax cuts in history, greatest everything, but now you have the
00:28:12big drug prices because that's going to be included. It makes that whole situation different from a
00:28:20scoring standpoint. I just told them, I called them up about this. I said, I'm going to do something that's
00:28:25going to be very monumental. And you're going to be scoring. You better tell your people that this
00:28:31is going to score really well. And then add hundreds of billions of dollars in tariffs to your list also.
00:28:39But as big as the tariffs are, this is something that really hits quickly. Five years ago,
00:28:44I signed an executive order to confront this disaster, but only confront it in a minor way.
00:28:50It was a good confrontation, but never to this extent. It took people a little while to understand
00:28:58a very complicated system. But Joe Biden, without any knowledge of what he was doing, terminated the
00:29:04policy and then pretended to negotiate under a new system. And then you take a look, five out of the
00:29:11ten drugs that he negotiated are now over 200 percent more expensive in America than the rest of the
00:29:19world and far more expensive than when he even got involved. Much more expensive than when he got
00:29:25involved. Joe Biden's plan was, as you know, because you wrote about it, you don't say it very loudly,
00:29:31but it was a very big failure, was his whole presidency. First, I'm directing the U.S. trade
00:29:36representatives and Department of Commerce to begin investigations into foreign nations that extort
00:29:42drug companies by blocking their products unless they accept bottom line and very low dollar amounts
00:29:49for their product, unfairly shifting the cost burden onto American patients. And we'll be taking a look
00:29:55at that very strongly. The biggest thing we're going to do is we're going to tell those countries,
00:30:00like those represented by the European Union, that, you know, that game is up. Sorry.
00:30:06And if they want to get cute, then they don't have to sell cars into the United States anymore.
00:30:11It's a very big subject. And they won't get cute. Because I'll defend the drug companies from that
00:30:18standpoint. They were given a price by the European unions and other countries. This is what you do.
00:30:25This is what we're going to pay. We're not going to pay anymore. Let America pay the difference,
00:30:29because it was a big shortfall. Let America pay it. And that's what we did. But we're not doing it
00:30:35anymore. Next, my administration will secure what we're calling most favored nations drug pricing.
00:30:41The principle is simple. Whatever the lowest price paid for a drug in other developed countries,
00:30:46that is the price that Americans will pay. And we're using the term other developed countries,
00:30:51because there are some countries that need some additional help. And that's fine. I think that's
00:30:56very good. Some prescription drug and pharmaceutical prices will be reduced almost
00:31:02immediately by 50 to 80 to 90 percent. Big Pharma will either abide by this principle voluntarily,
00:31:09or will use the power of the federal government to ensure that we are paying the same price as
00:31:15other countries. To accelerate these price restrictions and reductions, my administration will
00:31:21also cut out the middlemen. We're going to totally cut out the famous middlemen. Nobody knows who they are.
00:31:27Middlemen. I've been hearing the term for 25 years. Middlemen. I don't know who they are, but they're
00:31:32rich. That I can tell you. We're going to cut out the middlemen and facilitate the direct sale of drugs
00:31:39at the most favored nation price, directly to the American citizen. So we're cutting out,
00:31:44Bobby, the middlemen. It's so important, right? They got to do that. They're worse than the drug companies.
00:31:51They don't even make a product, and they make a fortune. They got very smart business people that
00:31:56I can tell you. If companies make no significant progress toward most favored nation pricing,
00:32:01which we will insist that they do. So I think I'm wasting time talking about it. We're going to insist
00:32:05upon it. And we'll insist, and we're going to help the drug companies with the other nations,
00:32:10because those other nations do a lot of trading with us. They need our trade, just like China needed
00:32:15us very badly. They need us just as badly. And we will do whatever we have to with trade, just like
00:32:23we did some great things with trade with India and Pakistan. It really helped the situation,
00:32:28very heated situation. It could have lost millions of people, more than millions. I mean,
00:32:33many millions of people. And they want to do business with America, but we never used our
00:32:40power. Power is that way. We never knew how. We never had people that knew how to do that.
00:32:45We'll also open up America's market to safe and legal imports of affordable drugs from other countries,
00:32:51putting dramatic downward pressure on prices. And if necessary, we'll investigate the drug companies,
00:32:58and we'll, in particular, investigate the countries that are doing this. And we will add it onto the
00:33:04price that we charge them for doing business in America. In other words, we'll add it onto tariffs
00:33:13if they don't do what is right, which is everybody should equalize. Everybody should say pay the same
00:33:19price. And special interests may not like this very much, but the American people will. I mean,
00:33:26I am doing this for the American people. I'm doing this against the most powerful lobby in the world,
00:33:32probably, the drug lobby, drug and pharmaceutical lobby. But it's one of the most important orders,
00:33:38I think, that's ever been signed, certainly with regard to health care or health in the history of
00:33:43our country. And it's an honor to be a part of it. And I'd like to ask Robert F. Kennedy to say a few
00:33:48words, please. Thank you. Thank you, Mr. President.
00:33:53President, this is an extraordinary day. This is an issue that – you know, I grew up in the Democratic
00:34:02Party, and every major Democratic leader for 20 years has been making this promise to the American
00:34:08people. This was the fulcrum of Bernie Sanders' runs for presidency, that he was going to eliminate
00:34:14this discrepancy between Europe and the United States. But as it turns out, none of them were
00:34:21doing it. It's one of these promises that politicians make to their constituents, knowing that they'll
00:34:27never have to do it. And the reason they'll never have to do it is because they know that Congress is
00:34:33controlled in so many ways by the pharmaceutical industry. There's at least one pharmaceutical lobbyist
00:34:40for every congressman, every senator on Capitol Hill, and every member of the Supreme Court,
00:34:45by some estimates three. Pharmaceutical companies, the industry itself spends three times what the
00:34:53next largest lobbyist spends on lobbying. So this was a – this was an issue that people talked about,
00:35:01but nobody wanted to do anything because it was radioactive. They knew you couldn't get it by
00:35:07Congress. We now have a president who is a man of his word, who has the courage. President Trump was
00:35:16taking money from the pharmaceutical industry, too. I think they gave you $100 million. But he can't be bought,
00:35:23unlike most of the politicians in this country. And he is standing here for the American people.
00:35:29I don't know what – you know, there's writers like Elizabeth Warren or Robert Reich who are saying
00:35:36that President Trump is on this side of the oligarchs. There has never been a president more willing to
00:35:43stand up to the oligarchs than President Donald Trump. And I'm very, very proud of you, Mr. President,
00:35:50for your courage. I'll say – because I don't want to be crude – your intestinal fortitude,
00:35:58your stiff spine, and your willingness to stand up for the American people. We have 4.2 percent of
00:36:06the world's population. We – our country represents 75 percent of the revenues for pharmaceutical companies.
00:36:15We spend in our country $1,126 per capita on drugs. In Britain, they spend about 240. They spend one-fifth
00:36:28of what we do. And this is true across Europe. And this – and the drug companies, Europeans, if you
00:36:35ask them, it made no sense what they are saying. America has to pay for this innovation or it's not
00:36:40going to happen. What President Trump is saying to our European partners is you've got to raise the
00:36:47amount that you're paying for those drugs and pay for your share of the innovation,
00:36:52that the United States is no longer subsidizing that. If the Europeans raise their – the price
00:36:58of their drugs by just 20 percent, that is 10 trillion dollars that can be spent on innovation
00:37:05and the health of all people all across the globe is going to increase because we're going to have
00:37:12better products. So I am – I'm just so grateful to be here today. I never thought that this would
00:37:19happen in my lifetime. I have a couple of kids who are Democrats, are big Bernie Sanders fans, and when
00:37:27I told them that this was going to happen, they had tears in their eyes because they thought this is
00:37:32never going to happen in our lifetime. And we finally have a president who is willing to stand
00:37:37up for the American people. Thank you. And Dr. Oz.
00:37:45Thank you, Secretary Kennedy. This is the most powerful executive order on pharmacy pricing and
00:37:52healthcare ever in the history of our nation. And it's only happening because we have a president
00:37:58with the fortitude, the guts to stand up to the withering criticism and lobbying that's going to
00:38:03occur as soon as folks hear about the executive order. So on behalf of the child in Philadelphia who's
00:38:09got an autoimmune disease with a thousand dollar a month drug or the older woman in Los Angeles who's
00:38:16on a blood thinner who can't afford her co-pay, I want to thank President Trump. God bless you for
00:38:20having the guts to take on this industry. Thank you, sir. Thank you very much.
00:38:23So let's talk about the details a little bit. And this is primarily about equalization,
00:38:30as President Trump said. It's about fairness. Think of NATO as a metaphor. When President Trump
00:38:35said, you've got to pay a little more so it makes sense for all of us, they came up. And the European
00:38:41countries contributed. The same thing we believe will happen in this situation. Most people who have
00:38:46thought about this process agree that it is patently unfair to tolerate the numbers that Secretary
00:38:51Kennedy and President Trump have reflected to you. On this chart to my left is a list of the 10 drugs
00:38:58that were negotiated in the IRA. Again, this is the bill, the law, that regulates a negotiation process.
00:39:05This is the best price that was able to be obtained by the Biden administration. And if you look at these
00:39:11numbers, they actually reflect how much on top of the most favored nation price was being paid by the
00:39:18United States. So the closest to me, Bob, you can point to the Jardins, the closest one, 289 percent,
00:39:23the one that's closest to you. That means that we are paying in America four times more than that
00:39:31drug costs in other countries. Again, 100 percent is the baseline. It's 289 percent above that baseline.
00:39:37It goes all the way down to where we're paying 50 percent more than any other country. That's the range.
00:39:41As was pointed out by President Trump, half the time we're paying three times more than it's paid in
00:39:46other countries. It doesn't make any sense for the system. That stated, President Trump has over and
00:39:51over again indicated, and Secretary Kennedy has reflected as well, we want innovation. We want our
00:39:56technology partners doing the best they can to make the best solutions for drugs to cure as many
00:40:01people in America and around the world as possible. By getting our allies to pay a bit more,
00:40:06as they should be, and they should have for many years been doing, will course correct a problem
00:40:11that's gotten out of hand. And by doing that in a thoughtful, effective way, we're going to be able
00:40:16to get the pharmaceutical industry whole. Those jobs will still be here. We'll still be productive.
00:40:20We'll still be curing cancer and a slew of other ailments that plague humanity. America will still be
00:40:25the leader in this space, but we'll be paying the appropriate amount, the right-sized amount for those tasks.
00:40:31So over the next 30 days, the four of us up here, together with people standing in the back of this
00:40:37room, we're doing a lot of the heavy lifting, are going to be approaching pharmaceutical companies
00:40:40to talk specifically about what we want the most favored nation price to be based on the best data
00:40:44we have. We're looking forward to a thoughtful interaction with these corporate leaders, many of
00:40:51whom we've spoken to and in quiet will agree the system is not right the way it is. They're patriotic
00:40:57Americans. They want what's right. But the fact that in my lifetime, as Secretary Kennedy said,
00:41:01for the first time, we have a thoughtful and aggressive approach, thanks to President Trump,
00:41:06on taking on these special interests, I should give all Americans confidence that this is an
00:41:12administration that stands for fairness and should chill the waters for those who believe they can
00:41:16push us away from our North Star, which is to take care of the American people. Mr. President,
00:41:21God bless you. Thank you very much. Jay, you want to go next? Sure.
00:41:27So I teach economics at Stanford as well as health policy. And one thing that's really,
00:41:33really simple in economics is that when you have a persistent price difference for the same product
00:41:38between two countries, there is something deeply wrong. And what President Trump has done is a historic
00:41:44measure that should have been done a long time ago. What we're going to do is make sure that those
00:41:49prices become much closer to equal like a competitive market you'd expect. Right now, what's happening
00:41:57is the American people are subsidizing in large fraction the research and development efforts for
00:42:04drug companies around the world by the higher prices that we pay. With this new order, Europe will share
00:42:11the burden of that. And in fact, if you may think of it as like somehow it's like it's going after drug
00:42:17companies. Actually, it's helping drug companies. Because what we're also going to do with this order, what
00:42:22President Trump has done with this order, is he's said to European governments, look, if you are taking
00:42:28advantage of the drug companies by forcing them to charge very, very low prices, we're going to defend
00:42:33American drug companies in Europe. At the same time, we're standing up for the American consumer who's been
00:42:40paying far too high prices for far too long. I can go back decades to point to congressional report
00:42:47after government report after government report of tremendously high drug prices, much higher than
00:42:53the rest of the world. And nothing has been done about it until the moment. And I'm really, really proud,
00:42:58President Trump, that you've done this. I'm really proud to be included in this. I'm looking forward to the work ahead.
00:43:03Thank you, Mr. President. On behalf of the many doctors I've talked to about this very issue,
00:43:10thank you for taking the bull by the horns. Presidents on both sides of the aisle have
00:43:14talked about this and floated it and said they've wanted to do it. So you've had the courage to do it.
00:43:20Thank you. I've been a surgical oncologist at Johns Hopkins for 22 years and I have seen patients
00:43:26suffer. We didn't take an oath to heal patients and then watch their life get ruined financially
00:43:33with their home, mortgage, retirement, going down the drain with GoFundMe campaigns,
00:43:40raising money from church communities and synagogues and friends they haven't seen in 20 years,
00:43:45to try to raise money for what? For a system where Americans have been getting ripped off
00:43:52by 10, 12, 15 times higher prices than we see in other countries. The fundamental problem in healthcare
00:43:57is that we've had non-competitive markets. We can do little things around the edges or we can transform
00:44:03those markets to competitive markets and that's what this executive order does today. Imagine
00:44:09buying a Ford for $175,000, a regular car and then hearing that people in London are buying it for
00:44:17$10,000 every day all day long. That is the craziness of this system. We're going to do everything we can
00:44:24at the FDA to support this executive order. It's transformative. Thank you, Mr. President.
00:44:29Thank you. Thank you very much.
00:44:32So thank you very much, everybody. It's – I think it's a very important day. In many ways,
00:44:36you have – we'll start with the Houthis. We go to Pakistan and India.
00:44:43We go to what we did with China, the trade deal, and with UK. And by the way, many other deals are
00:44:49are coming in very much. At a certain point, we'll just set the price because we know where we are.
00:44:54But we'll just set the price. But world trade is going to be
00:44:58terrific and our country is going to be making a lot of money. Taxes are going to go down.
00:45:04Taxes are going to go down very, very substantially. But you look at all of the things that we've done
00:45:09and now today I'm heading over. We'll see what we're going to do with respect to Iran.
00:45:16I think you have very good things happening there too, by the way. I think – can't have a nuclear
00:45:21weapon, but I think that they are talking intelligently. We're in the midst of talking to
00:45:26them and they're right now acting very intelligent. We want Iran to be wealthy and wonderful and happy
00:45:34and great, but they can't have a nuclear weapon. It's very simple.
00:45:37So I think they understand that we mean – that I mean business and they – I think they're
00:45:44being very reasonable thus far. And don't underestimate Thursday in Turkey.
00:45:52President Erdogan is going to be a great host. And we are doing some work with him,
00:46:00having to do with Syria too, by the way. We're going to have to make a decision on the sanctions,
00:46:05which we may very well relieve. We may take them off of Syria because we want to give them a fresh
00:46:11start. But President Erdogan has asked me about that. Many people have asked me about that because
00:46:17the way we have them sanctioned, it doesn't really give them much of a start. So we want to see if we
00:46:21can help them out. So we'll make that determination. But I think you're going to have maybe a good meeting.
00:46:26You have the potential for a good meeting, that a meeting wasn't going to take place. I insisted that
00:46:31that meeting take place. And it is taking place. And I think you may have a good result out of the
00:46:36Thursday meeting in Turkey between Russia and Ukraine. And I believe the two leaders were going
00:46:42to be there. I was thinking about flying over. I don't know where I'm going to be on Thursday.
00:46:46I've got so many meetings. But I was thinking about actually flying over there. There's a possibility
00:46:51of it, I guess, if I think things can happen. But we've got to get it done. We've got to save 5,000
00:46:56lives a week. 5,000 lives is really more than that. It's worse than that. And when you see the,
00:47:01and you don't want to see it, but when you see the satellite photographs of the battlefield with arms
00:47:06and legs and heads all over the place, separated by 30 yards from bodies, it's not, it doesn't make
00:47:16sense. It doesn't make sense. So we're working very hard to see if we can end that bloodbath.
00:47:23Okay. There shouldn't be too many questions. Thank you, Mr. President. Thank you, Mr.
00:47:27President. Thank you for taking questions. Two quick ones for you. Starting on trade.
00:47:32If a longer-term deal is not reached with China at the end of these 90 days, can the American people
00:47:37expect those tariffs to go back up to 145 percent? No, but they would go up substantially higher.
00:47:43Okay. And then on cut- You know, at 145, you're really decoupling because nobody's going to buy.
00:47:48But they can go, they got very high because of additional tariffs. I applied during the course
00:47:54because of fentanyl and other things. But no, but they'd go substantially higher.
00:47:57And then on cutter, Mr. President, has- I think you will have a deal, however.
00:48:00You, you, okay. You're confident that there will be a deal on cutter. Has cutter asked for anything
00:48:05in exchange for that $400 million luxury jumbo jet? And how can the American people be so sure that
00:48:12they will not in the future? Well, I think what happens with the plane is that, you know,
00:48:15we're very disappointed that it's taking Boeing so long to build a new Air Force One. You know,
00:48:19we have an Air Force One that's 40 years old. And if you take a look at that compared to the new
00:48:25plane of the equivalent, you know, stature at the time, it's not even the same ball game. You look at
00:48:30some of the Arab countries and the planes they have parked alongside of the United States of America
00:48:37plane, it's like from a different planet. And it's close to 40 years old, might be more than 40 years old now.
00:48:43And we, when I first came in, I signed an order to get it built. I took it over from the Obama
00:48:52administration. They had originally agreed. I got the price down much lower. And then when the election
00:49:01didn't exactly work out the way that it should have, a lot of work was not done on the plane,
00:49:06because a lot of people didn't know they made change orders that were so stupid, so ridiculous.
00:49:11And it ended up being a total mess, a real mess. And when I came back, I said, by the way,
00:49:17what's going on with the Boeings that are coming in? Well, sir, they're way behind. And they are,
00:49:22they're way behind. They were way behind another mess that I inherited from Biden. And it's going to be
00:49:28a while before we get them. And I think Qatar, who has really, we've helped them a lot over the years,
00:49:36in terms of security and safety. I felt that, I think, and very, very nicely. And I have a lot
00:49:42of respect for the leadership and for the leader, Qatar. And I think they very, they knew about it,
00:49:47because they buy Boeings. They buy a lot of Boeings. And they knew about it. And they said,
00:49:53we would like to do something. And if we can get a 747 as a contribution to our Defense Department,
00:50:02to use during a couple of years while they're building the other ones, I think that was a
00:50:08very nice gesture. Now, I could be a stupid person and say, oh, no, we don't want a free plane.
00:50:13We give free things. We'll take one too. And it helps us out. Because again, we're talking about,
00:50:19we have 40-year-old aircraft. The money we spend, the maintenance we spend on those planes,
00:50:24to keep them tippy top, is astronomical. You wouldn't even believe it. So I think it's a great
00:50:29gesture from Qatar. I appreciate it very much. I would never be one to turn down that kind of an
00:50:37offer. I mean, I could be a stupid person and say, no, we don't want a free, very expensive
00:50:43airplane. But I thought it was a great gesture. And I think it was a gesture because of the fact
00:50:49that we have helped and continue to. We will continue to. All of those countries, Saudi Arabia,
00:50:56UAE, Qatar, and others, we keep them safe. If it wasn't for us, they probably wouldn't exist right
00:51:03now. And I think this was just a gesture of good faith. And I don't get it. Someday it'll be like
00:51:10Ronald Reagan. They decommissioned them. You know, they get to a certain age. They decommissioned
00:51:13them. It'll go to my library. They're talking about going to my library in years out. But I
00:51:20thought it was a great gesture. And it's something that was done by Ronald Reagan. They actually
00:51:25decommissioned the plane and he put it in his library. And it actually has made the library,
00:51:30I think a Boeing 707. It's actually made the library more successful. So it was good.
00:51:36But do you plan to use it? Do you plan to use the plane after you leave office?
00:51:39MR. No, I don't. No.
00:51:40You don't?
00:51:41MR. It would go directly to the library after I leave office.
00:51:44Mr. President –
00:51:45MR. I wouldn't be using it, no.
00:51:46Mr. President, on the hostage – on the hostage, you said that the release of the American
00:51:51hostage, Adam Alexander, is a step in good faith to end this war. Do you expect
00:51:57any progress and perhaps announcement on ceasefire during our trip to the Middle East?
00:52:02MR. We hope that we're going to have other hostages released too, as you know. So
00:52:07when I met with the hostages three weeks ago that were there for quite a while, you remember the 10
00:52:12people that came in, mostly young people. One or two were a little bit older. They went,
00:52:16they were explaining the trials and tribulations. I mean, they went through hell.
00:52:21And I said, how many are there? They said 59. I said, that's a lot. I didn't realize,
00:52:26because we got a lot out. You know, we got a lot of hostages out, I think you will acknowledge.
00:52:31They said 59. But then they said, they followed that up by saying 59, of which 24 are living,
00:52:37the rest are dead. But the people whose son, mostly son, I think one daughter in this case,
00:52:44but mostly sons are there or husbands are there. Those people want the dead bodies as much as they want
00:52:51the alive body. I have a mother that calls me, but came up to me when I first met her and she said,
00:52:58sir, please, please get my son out. He's dead, but they have his body. And I asked her about that.
00:53:05And it's as though he were alive. The level of wanting that body back is the same. It couldn't be
00:53:13anymore as though he were alive. So, you know, getting the bodies back is very important. That
00:53:20could be a thing having to do with the religion. It could be same. I was amazed at the level of
00:53:26importance. It's the same as if the son or husband or whatever was alive. So they said 59. In fact,
00:53:33they came out, they came in with a number 59 written out on like a sign on their chest. They came to thank me
00:53:39for getting them out. And I said, what does the 59 mean? They said, well, that means there are 59
00:53:47people. But then they said, but 24 are living. Now it's 21. The number is 21. So now it's actually,
00:53:54well, we'll get Etan today. We think we're getting him today. So it's 20. So they have 20 live
00:54:00hostages there. The rest are dead bodies.
00:54:02Mr. President, are you open to negotiating
00:54:06your tariffs on cars, steel and aluminum with China or any other country?
00:54:10Well, we're not even talking about that. We're bringing the car back business back into this
00:54:15country. We have commitments, not only commitments, they've already started construction on many plants.
00:54:21They've left Mexico in a few cases. In a few cases, they've left Canada. They're not going to build in
00:54:26Canada. They're going to build here because we have the market and the tariffs have been amazing.
00:54:32The election and the tariffs. November 5th was a big day. And on top of that, of course,
00:54:37you wouldn't have the tariffs without the election, I guess, if you look at it. But we have
00:54:42at least 11 committed massive car factories that are going to be built, that are in the process of
00:54:51being built. And some have actually started. We also have renovations of existing factories where they
00:54:59weren't utilizing the full factory from years gone by. And now they're under full renovation. They'll
00:55:04be opening up full factories in a very short period of time. Our car industries, I think we're going to
00:55:09have the number one industry. If you look at Japan and these others, they do tremendously with cars.
00:55:16And they can do that, too. But if they want to sell cars in the United States, they're going to have to
00:55:20build factories in the United States because I'm interested in cars for the United States.
00:55:25And one other thing is, in our tax bill, we're giving not only no tax on tips, no tax on social
00:55:31security, no tax on overtime, but also we're going to get a deduction for people that borrow money to
00:55:37buy a car if it's made in America. If it's not, we have no interest.
00:55:44If I felt it would be important toward getting the deal done, I'm the one that insisted on the
00:56:00meeting. They couldn't get a meeting because one said ceasefire, one said no ceasefire, was going
00:56:05back and forth. I said, look, at this point, we got to stop it. Just go to the meeting. The meeting's
00:56:11been set. Go to the meeting on Thursday. And if I thought it would be helpful, I don't know where
00:56:16I'm going to be at that particular point. I'll be someplace in the Middle East, but I would fly
00:56:20there if I thought it would be helpful.
00:56:21Mr. President, Mr. President, I want to ask you about South African refugees. Dozens of Afrikaners
00:56:28who claim discrimination in their home country are heading to the United States, where your
00:56:32administration is going to welcome them as refugees. Now, this comes, as you called it,
00:56:37virtually all refugee admissions for people who could examine the war from countries like Sudan,
00:56:42the Democratic Republic of Congo. Why are you creating an expedited path into the country for
00:56:48hundreds of dollars? Because they're being killed. And we don't want to see people be killed.
00:56:54Now, South Africa leadership is coming to see me, I understand, sometime next week. And, you know,
00:57:01we're supposed to have a, I guess, a G20 meeting there or something. But we're having a G20 meeting.
00:57:06I don't know how we can go unless that situation's taken care of. But it's a genocide that's taking place
00:57:12that you people don't want to write about. But it's a terrible thing that's taking place. And
00:57:19farmers are being killed. They happen to be white. But whether they're white or black makes no
00:57:25difference to me. But white farmers are being brutally killed and their land is being confiscated
00:57:31in South Africa. And the newspapers and the media, television media, doesn't even talk about it. If it
00:57:37were the other way around, they'd talk about it. That would be the only story they'd talk about.
00:57:41And I don't care who they are. I don't care about their race, their color. I don't care about their
00:57:47height, their weight. I don't care about anything. I just know that what's happening is terrible. I have
00:57:52people that live in South Africa. They say it's a terrible situation taking place. So we've essentially
00:57:58extended citizenship to those people to escape from that violence and come here. Yeah.
00:58:05Mr. President, thank you. Are you letting China off the hook for these 90 days? And do you really
00:58:12believe that they will follow through with non-tariff barriers and remove those?
00:58:17Non-monetary tariffs, yeah. Yeah, I think they're going to follow through. I think they want it very
00:58:21badly. I think they want the deal very badly. Again, this doesn't include the steel tariffs that I put
00:58:26on a long time ago that Biden tried to get off, but he couldn't get them off because it was too much money.
00:58:30You know, I took in hundreds of billions of dollars from China, which a lot of people don't know,
00:58:34but we put on the tariffs originally. And if I didn't do that, we wouldn't have a steel industry
00:58:38today. Now we have a thriving steel industry. It'll be thriving much more with what we're doing
00:58:43because this is the next level. But it doesn't include that. It doesn't include cars. It doesn't
00:58:48include pharmaceuticals when we do that. And the reason we're doing that will be to get them to come
00:58:53back into the country. You know, there are, again, I always say it because a lot of people forget, but
00:58:57if a company like Eli Lilly, which is making a massive investment in the United States right
00:59:04now, they're building many, many plants. They've already started like seven of them,
00:59:10many plants, but they are not going to be tariffed. There's no tariff cost. So they're
00:59:16all doing that. They're all coming back to the United States. I mean, I'll tell you what,
00:59:20I hope I get the benefit of watching this because as president, because, you know, it takes a little
00:59:26while to do this stuff. And we're doing it early in the administration. If you think of it, we have,
00:59:32I believe, if you look at the real total, it's over $10 trillion committed for plants and factories.
00:59:41Other administrations haven't had $1 trillion over a four-year period,
00:59:47even over an eight-year period. We have over $10 trillion committed in one form or the other over
00:59:53two months. Give me a break. I'm here to hear three, but let's give me a break on the first
00:59:58on the first month. We want to get acclimated. But, you know, but if you think about it, it's really
01:00:03two months. And so in two months, we have an investment already of over $10 trillion. And other
01:00:11presidents haven't had that done over a year, over four years in some cases.
01:00:17It's unprecedented. There's never been anything like it. It's a very exciting time
01:00:21in America. Thank you very much, everybody.
01:00:23Mr. President, Mr. President, Mr. President,
01:00:25Mr. President, are you ready to impose sanctions on Russia if Putin doesn't agree with the 30-day
01:00:34state? I have a feeling they do agree. I do. I have a feeling.
01:00:38And we've been talking about this. We'll see what happens.
01:00:41Mr. President, Mr. President, even in negotiations, the budget bill negotiations
01:00:46are taking place. Who in your administration is in charge of that?
01:00:49Well, everybody. From the standpoint of medical, this group behind me, I mean,
01:00:54I think it's the best group ever assembled. In terms of medical, I think you're going to see a
01:00:59tremendous cut. I don't think. I mean, I know you're going to see it in Medicaid and Medicare.
01:01:06That cut will be massive because drugs are 50, 60 percent of the cost. So Medicaid costs are going
01:01:12down and Medicare costs are going down because of what we're doing today. And there's no, it's not
01:01:18like, oh, gee, well, maybe it won't happen. It's going to happen because the other countries have not
01:01:23changed. Now, the drug companies are going to have to say, listen, if you don't pay more,
01:01:25we're not going to give you the drug. And they're wanting to do that. So that's it. They have to,
01:01:30we have to equalize. Mr. President, what do you, Mr.
01:01:33How do you, how do you respond to the fact that this, what was price control is before.
01:01:42If you want to talk about price control is what they were doing.
01:01:45They were making us pay. They set a price and they said, here's what we're going to pay
01:01:50and anything else charge America. Because at that time, they had a very stupid president.
01:01:57And it really went crazy during the last four years. And remember this, the Democrats are the
01:02:03ones that allowed this to happen. They were the ones that were the protector of the, this pricing
01:02:09system. And I think it's going to be very hard. You have to ask Democrats, are they going to vote
01:02:15against the one great, big, beautiful deal that's being negotiated now, tax cuts, et cetera.
01:02:22We're now on top of the tax cuts and regulation cuts, all the things.
01:02:26Now you're going to say that the price of your medicine is going down by 60, 70, 80 percent.
01:02:32You're going to vote against it. I think a lot of Democrats are going to be forced to do something
01:02:37that their leaders are going to beg them not to do. And that's vote for the bill. I don't see how they
01:02:41can vote against it. How can they vote against it when drug prices, drugs and pharmaceuticals
01:02:46are going to be down 70, 80 percent? It's going to be very interesting.
01:02:50The Pressure Mr. President, what do you say to people who view that luxury
01:02:53jet as a personal gift to you? Why not leave it behind?
01:02:56The Pressure You're ABC fake news, right?
01:02:58The Pressure Why not leave it behind you?
01:02:58The Pressure Only ABC, well, a few of you would.
01:03:01Let me tell you, you should be embarrassed asking that question.
01:03:06They're giving us a free jet. I could say, no, no, no, don't give us,
01:03:09I want to pay you a billion or 400 million or whatever it is.
01:03:14Or I could say, thank you very much.
01:03:17You know, there was an old golfer named Sam Snead. Did you ever hear?
01:03:20He won 82 tournaments. He was a great golfer.
01:03:23And he had a motto. When they give you a putt, you say, thank you very much.
01:03:28You pick up your ball and you walk to the next hole. A lot of people are stupid.
01:03:31They say, no, no, I insist on putting it. Then they putt it, they miss it.
01:03:35And their partner gets angry at them. You know what? Remember that, Sam Snead.
01:03:41When they give you a putt, you pick it up and you walk to the next hole and you say, thank you very much.
01:03:45Respectfully, sir, that as a businessman, some people may look at this and say,
01:03:50have you ever been given a gift worth millions of dollars and then not received anything else?
01:03:54A gift for me is a gift to the Department of Defense.
01:03:58And you should know better because you've been embarrassed enough and so has your network.
01:04:01Your network is a disaster. ABC is a disaster. Here is the bill.
01:04:05Let me come on over again. Now you're talking about two years and three years of dollars.
01:04:14Thank you very much, you're very welcome.
01:04:16Mr. President, a quick question about 30.
01:04:19Thank you very much.
01:04:20Mr. President, thank you very much.