00:02Yeah, if you have a few minutes, we would appreciate your time.
00:09Well, Trump just posted that there's a few great trade deals in the hopper.
00:13Can you give us any glimpse at what trade deals might be coming next beyond UK?
00:18There are about two dozen right now.
00:20And the question of what the priority is, I think, is up to the president.
00:25And I think that Howard Lutnick and Jameson Greer have suggested that they might be moving towards getting a good deal in Asia.
00:33And there are a number of candidates for that.
00:35And that way, we're kind of getting trade deals all around the world that I think they like the look of that.
00:40But the president in the end will decide.
00:42And he's got lots to choose from to go into what the next deal is.
00:45But again, the interesting thing is that they're kind of bespoke deals.
00:48And so they really are going into the things that are the big concerns for the individual countries.
00:52And so each deal is quite a bit different.
00:54And so, you know, that's why they're coming one at a time.
00:57Do you anticipate, you said, though, that there's three negotiations right now that are close, three trade negotiations.
01:03Do you anticipate it will be for the countries in the Pacific region, like you and others have been kind of outlining India, South Korea, Japan?
01:11That would be my expectation for the next one, yeah.
01:13But, yeah, there are so many deals that are close and some are easier than others.
01:16I think the deal with India was especially complex, but it looks like it's getting close to the finish line.
01:22Is the war at all or is the war?
01:24Is the conflict, the escalating conflict between India and Pakistan at all affecting any of those talks or the planning on that?
01:31It's not something I've discussed.
01:33I have a question about you.
01:37I know you were just talking about the tax bill.
01:41The president posted this morning that he would be okay with raising taxes on the rich.
01:47Is that something that is being seriously considered in this bill?
01:51I know that one of the key problems right now is the president has a lot of very expensive priorities in order to load out.
01:57The tax on tips and tax on overtime and how to pay for it.
02:00So I'm curious.
02:01The president is not a strong advocate of that.
02:04But he is a strong advocate of many things like no tax on tips, no tax on overtime, and nice treatment for auto loans.
02:11And he has cited his priorities, and he understands that in the end the final bill will include some priorities of members of the House and the Senate.
02:19That's how the democratic process works, and that's really what this conversation is about.
02:23But how do you expect to pay for any of the president's priorities being laid out?
02:28Well, the budget rules in the House and the Senate are very clearly identified that include spending cuts and so on.
02:34And they don't include dynamic scores.
02:36And so in the fullness of time with the spending cuts that we're achieving and the dynamic score of the tax bill,
02:41we're highly confident that we're going to reduce the deficit and make bond markets celebrate.
02:46And we're already seeing that with lower interest rates right now.
02:49And you think you'll be able to get all those priorities in the bill?
02:51I think that the president's top priorities have been communicated,
02:54and I have not seen anyone suggest that they're not going to be in the bill.
02:57On China tomorrow, Trump said today 80% would be okay.
03:03It will come out tomorrow, what happens is a negotiation.
03:06So you don't anticipate any drop in tariffs before those talks?
03:08I think that everything will happen while the talks are happening.
03:11Wow, okay.
03:12Not before.
03:13Yeah.
03:14Okay, thank you guys.
03:15I don't want to get too wet.
03:16Oh, did I do that to you?
03:17I know, right, when I walked out.
03:18Can I ask you quickly about that?
03:19One last question.
03:20Yeah.
03:21Okay, I'm sorry if I missed this and they already guessed it, but about Trump's post this morning about reducing China's tariffs only.
03:26Going 145%.
03:27Scott Bessett and Jameson Greer are going into the negotiations with an open mind, working closely with their colleagues.
03:35And there won't be news about what happens to tariffs or other things until after the talks are finished.
03:40Do you think it's going far enough with this 80% or do you think it should lower it even more?
03:45Yeah, all that will be worked out during the negotiations at Geneva.
