00:00I have a question about trade. Secretary Bessent has said that he hopes tariff deals with major partners will be done by Labor Day. So if some deals are not done by your July 9th deadline, will some countries tariffs go back up or will they stay where they are now?
00:23There's some countries that are used to ripping us off, to be honest with you. And I don't want to name them, but you sort of can name them. And they're so used to just, you know, getting taken at billions and billions of look. We had a trade deficit of more than a trillion dollars. Think of a trillion a trade deficit. That's because nobody cared. Nobody. We cared a lot when I took in hundreds of billions of dollars in tariff. We had the greatest economy in history up until now.
00:53I think we're going to blow it away. But during my time, and especially prior to COVID, we had the greatest economy in the history of our country. I think we're going to blow it away now based on the kind of numbers that we're seeing.
01:04But some countries are very angry because they've been ripping us off for years. They've been making billions and billions of dollars. There was nobody to negotiate with. They could do whatever they want. They charge us tariffs, by the way, at numbers that we've never seen before.
01:18And we ended up losing much more than a trillion dollars a year. A trillion dollars a year on trade. And now they're being met with a force that's far greater than them. And they don't like it.
01:31So they're upset. Because instead of making, you know, five billion dollars, they're going to break even. Or they'll make a little bit. I want to be nice. They'll make a little bit. Oh, we'll make a little bit.
