Trump Touts Income From Tariffs, Says Pharmaceutical Tariffs Will Come 'Very Soon'

Speaking to reporters on Air Force One, President Trump was asked about the timing on pharmaceutical tariffs.

Transcript

00:00How was your meeting with him, how were the trade talks, looking with the Canadians?

00:03I think we had a lot of good talk from a lot of people.

00:05You said he's looking for something more complex. Can you tell me what you mean by that?

00:08I think it's complex on the deals and they never get done.

00:12And we need speed. You know, we're dealing with, really, if you think about it, probably 175 countries.

00:18And most of them are going to just be sent a letter saying,

00:22it'll be an honor to trade with you and here's what you're going to have to pay to do it.

00:25We're making a lot of money. You know, we took in 88 billion in tariffs.

00:30And I was called by Congress about two nights ago saying,

00:35we don't understand the numbers are so far off.

00:39And I said, is that good or bad?

00:40He said, well, we're taking in so much more income than we thought.

00:44We've never seen anything like this. What is it?

00:47I said, check the tariff column.

00:50And it's about $88 billion that they've never seen before.

00:54And that's nothing compared to what it's going to be.

00:56You've got other tariffs coming down the pipe here.

01:00What's the timing on those things like lumber, copper, pharmaceutical drugs?

01:04Yeah, we're going to be doing pharmaceuticals very soon.

01:07That's going to bring all the companies back into America.

01:09A little more focusing on research tech.

01:12Back in. At least partially back in.

01:15You know, they left us because we had residents

01:17and didn't know what the hell they were doing.

01:19We should have never lost our car business.

01:22We lost 52% of our car business over the years.

01:26We should have never lost it.

01:27All they had to do was say, if you make a car,

01:30you're going to leave us, you're going to make a car,

01:32you're going to pay a 25, 30% tariff,

01:34and they would have never left.

01:36Nobody said that to anybody until I came along.

01:39Homeland Security is saying that I...