US may not extend July 9 deadline for tariff and trade talks

The Star

US President Donald Trump said on July 1 that he was not thinking of extending the July 9 deadline for countries to negotiate tariff and trade deals with the US. He also continued to express doubt that an agreement could be reached with Japan.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00We had a big day today. The bill passed, and I think he's going to do very well in the House.

00:06Speaking of Mr. J. Powell, do you have a top choice?

00:09I do. I have two or three top choices, actually.

00:18Mr. President, are you thinking of extending the pause on tariffs and bonds?

00:22No. No, I'm not. I'm not thinking about the pause.

00:25I'll be writing letters to a lot of countries, and I think you're just starting to understand the process.

00:32We've dealt with Japan. I'm not sure if we're going to make a deal. I doubt it, but Japan, they're very tough.

00:37You have to understand, they're very spoiled. I love Japan.

00:41I really like the new prime minister, too.

00:43Abhi was one of my closest friends, as you know.

00:45The new prime minister is great. He's a very strong guy.

00:48But they and others are so spoiled from having ripped us off for 30, 40 years that it's really hard for them to make a deal.

00:59You know, it's very hard.

01:00As an example, with Japan, they won't take rice, and yet they desperately need rice.

01:07You know that.

01:08But they won't take rice.

01:10They won't take other products that we have.

01:13But think of it. They need rice so badly, but they won't take rice.

01:17I think that was an easy one.

01:19Well, the cars, as you know, they send out millions.

01:21We didn't give them one car in 10 years.

01:25They won't take any cars, but they'll sell millions.

01:28So we tell them, sorry, you can't do that.

01:30And we have a great relationship, great reliance, and really a great sort of a partnership in a way.

01:39But on trade, they've been very unfair.

01:42And those days are gone.

01:44So what I'm going to do is I'll write them a letter and say we thank you very much.

01:47And we know you can't do the kind of things that we need.

01:50And therefore, you'll pay 30%, 35%, or whatever the number is that we determined,

01:57because we also have a very big trade deficit with Japan, as you know.

02:01And it's very unfair to the American people.

02:03So I look over the next week.

02:04I think we're going to have a deal with India, possibly.

02:08And that's going to be a different kind of a deal.

02:10It's going to be a deal where we're able to go in and compete.

02:13Right now, India doesn't accept anybody in.

02:16I think India's going to do that.

02:17And if they do that, we're going to have a deal for much less tariffs.

02:22Thank you for telling me, by the way.

02:26Thank you very much, everybody.

02:28I give Trump very high marks.

02:29Goodbye, everybody.

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