President Trump Speaks To Reporters About Tariff Negotiations, Promises 'Fair Deal' With China

Forbes Breaking News

President Trump speaks to reporters outside the White House.

Transcript

00:00Mr. President, I'm China.

00:02Do you want to talk, do you want to talk, do you want to talk tariffs?

00:07Do you want to talk tariffs quick?

00:09Do you see the markets yesterday, sir?

00:11Tariff negotiations are going very well.

00:13We're dealing with many, many countries.

00:15They all want to be involved with America.

00:19Be careful, Thomas.

00:21They all want to be involved with America.

00:23And we have a lot of action going on.

00:26We have, we're making a lot of money, this country.

00:28This country is not going to be losing money on trade anymore.

00:31We were losing $2 trillion a year on trade.

00:34Now we're going to be making money, a lot of money.

00:37So that's very good.

00:38Every country wants to partake.

00:40Even countries that have ripped us off for many, many years.

00:43China is an example, but it's not just China.

00:46European Union, they ripped us off for many, many years.

00:50And those days are over.

00:51We're going to make a lot of money for our people.

00:53We'll be able to lower taxes substantially.

00:56And we're going to be proud of ourselves.

00:58We're not going to be a laughing stock that got taken advantage of

01:02by virtually every country in the world.

01:05Mr. President, we thought you said you were going up too long for a flag.

01:11What was going on?

01:12We're putting up a beautiful, almost 100-foot tall American flag on this side and another

01:19one on the other side.

01:20Two flags, top of the line.

01:22And they've needed flagpoles for 200 years.

01:26It was something I've often said, you know, they don't have a flagpole, per se.

01:31So we're putting one right where you saw us.

01:34And we're putting another one on the other side, on top of the mounds.

01:38It's going to be two beautiful falls.

01:40And then on China, sir?

01:41On China?

01:42President Trump on China?

01:43Paid for by Trump.

01:44Mr. President, how quickly is the flag?

01:48They arrive in about a week or so.

01:50Mr. President, can you clarify, Mr. President, on China?

01:54Are you thinking about lowering their tariffs?

01:56We are going to have a fair deal with China.

01:58It's going to be fair.

01:59Are you talking to them actively now?

02:01Actively.

02:02Everything's active.

02:03Everybody wants to be a part of what we're doing.

02:06They know that they can't get away with it any longer, but they're still going to do

02:09fine.

02:10And we're going to have a country that you can be proud of.

02:13Not a laughing stock all over the world for many years.

02:16You know, in 1913, they traded to the income tax system.

02:21We used to be all tariff, and we had no income tax, and we had the wealthiest country we've

02:26ever had proportionately from about 1870 to 1913.

02:31It was all tariffs, and we did.

02:34We had more money than anybody.

02:35They had committees.

02:36How to spend the money.

02:37They had so much money, they didn't know how to spend.

02:39Then some brilliant person said, let's go income tax.

02:43Let's let the people pay.

02:44Now, we're going to be able to substantially lower taxes when this is finished.

02:49So, Mr. President, how does it look in the meantime?

02:52Are you considering lowering the tariffs on China while you're negotiating?

02:55It looks good.

02:56We were losing anywhere from $3 to $5 billion a day.

03:01Think of it.

03:02We're losing billions of dollars a day under Biden and other presidents, frankly.

03:08But under Biden, it got really worse.

03:10China got out of control.

03:12We're losing a trillion dollars a year.

03:14Trillion.

03:15Not a billion, not a million, a trillion.

03:17And now we're going to be making money with everyone, and everyone's going to be happy.

03:22But we're going to be, we're no longer going to be the country that's ripped off by every country in the world.

03:27Thank you, sir.

03:28Mr. President, can you tell us about where things stand there?

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