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00:00I think we're over now in the country we're over $15 trillion of investment and there's
00:18never been anything like that.
00:19In the history of our country, there has not been anything like it or even close.
00:25So, okay, do you have any questions?
00:27Mr. President.
00:28Mr. President.
00:29You have the Indonesia trade deal today.
00:30You have the Indonesia trade deal today.
00:32How many more trade deals, beyond the letters, will you announce before August 1st?
00:36The President.
00:37We're working on probably five or six.
00:40Of the five or six, I'm not sure I really want to do them.
00:43You know, you want somebody that knows how to negotiate.
00:48We'll probably have two or three.
00:50You know, we insist on opening up the country, which is a big deal.
00:54Indonesia was great.
00:55He's a great president.
00:56And we made a horrific deal when they opened up the entire country to trade with the United
01:03States.
01:04We weren't allowed to go in and trade.
01:07I think something simple will happen with, I would say, India.
01:12And we have a couple of others.
01:14But I have to tell you, for the most part, I'm very happy with the letters.
01:17You know, the letters are a deal.
01:19You know, I can't explain it any better.
01:22The letters are a deal.
01:23The press doesn't want to pick that up.
01:26I will hear from those deals on occasion when somebody is willing.
01:30Like if Japan would open up their country.
01:32They don't do that.
01:33They just don't do that.
01:34And I don't either, I don't subscribe to it one way or the other.
01:38But they won't do that.
01:40So we might just stick with the letter.
01:42South Korea is inclined to maybe do that.
01:45So we'll let you know.
01:46But we have letters out.
01:48Every time I send out a letter, essentially that's a deal.
01:51Mr. President, on you.
01:52Mr. President, on you.
01:53Mr. President, which is the date you gave of August 1st.
01:55What's the date that you gave of August 1st.
01:57Why stick with the date if you're saying that you might, you might.
02:00Payments start on August 1st.
02:02Right.
02:03The only thing about that's really sacred about August 1st is that's when payments start.
02:08So they have to start paying billions of dollars to you and people.
02:13Are you a citizen of the country?
02:14Yes, sir.
02:15All right, good.
02:16You'll be very happy because you're going to be getting a lot of money.
02:18Just like they found a budget surplus.
02:21We have a budget surplus of $25 million.
02:24Everyone said, how did that happen?
02:26It hasn't happened in many years.
02:28It happened because of good management and tariffs.
02:31Mr. President.
02:32Do you plan to release, sorry, do you plan to release more details of the Vietnam-China deals?
02:38Is there going to be a paperwork release to the public of showing that?
02:41I don't think it matters how much you release of the deal.
02:44We have a Vietnam deal, and I would say that that deal is being pretty well set.
02:51It's pretty well set.
02:52Again, that's an opening of their country.
02:54They've opened it up.
02:55Just so you know, these were closed countries.
02:57They were wonderful people, wonderful leaders, very strong, smart leaders.
03:01But their countries were closed to us, but our country wasn't closed to them.
03:06And so I said, you've got to open up your country, so we're going to see.
03:11But the Vietnam deal, we may open it.
03:13I mean, I don't know.
03:14I can't tell you.
03:15Is it necessary?
03:16I don't know.
03:17I don't think so.
03:18Mr. President, on Ukraine, why did you settle on giving Putin another 50 days?
03:22It seems like he's had a lot of time to show he wants peace.
03:23I don't think it's a long time.
03:24I think really the question should be asked, why did Biden get us into that ridiculous war?
03:29Why did Biden bring us here?
03:30That should never, ever have happened at war.
03:31This is Biden's war.
03:32I'm just trying to end it.
03:33He's making a lot of lies.
03:34Why do you think his opinion will change in 50 days when it hasn't over the last six
03:46months?
03:47It might not be 50 days.
03:49It might be much sooner than 50 days.
03:51To that end, when do you think the first Patriot missiles, some of these weapons that
03:55our allies will buy?
03:56They're already big ships.
03:57From what countries?
03:58They're coming in from Germany and then replaced by Germany, and in all cases, the United States
04:03gets paid back in full.
04:05Have you started?
04:06What's happening, as you know, is the European Union, if you look, mostly European
04:12Union, let's put it in the form of NATO.
04:15It's very similar.
04:16But NATO is going to pay us back for everything.
04:19In some cases, we're going to be paid back by countries of the European Union directly.
04:24Are we starting to see those payments?
04:26We're always getting our money back in full.
04:28So we're not going to have any more investment today.
04:31We're getting our money back in full.
04:34And if we can make a deal, that would be great.
04:36We're saving 5,000 or 6,000 soldiers a week.
04:39They're Russian and they're Ukrainian soldiers.
04:41They're not American soldiers.
04:43And we won't have boots to the ground.
04:46But it's a shame.
04:485,000.
04:49Last week, they say 7,100 soldiers, both Russian and Ukraine, were killed.
04:56Can I ask you about Iran?
04:57Have you seen any progress in talks with Iran?
04:59We haven't really heard about that in a while.
05:01Well, they want to talk.
05:02I'm in no rush to talk.
05:04And they would like to talk.
05:06I'm in no rush to talk because we obliterated their site.
05:10They'd have to start all over.
05:11In fact, it's obliterated to the point that it's not usable anymore.
05:16They'd have to pick a different mountain.
05:19That mountain is so blown up inside and so unstable that they would have to pick a different mountain.
05:27Our people really did the job.
05:29Yes.
05:30On the venture, would you fire Jerome Powell over the Treasury renovation?
05:35Well, it's been $2.5 million building this place.
05:39I have to say this.
05:41I think he's terrible.
05:42I think he's a total snip.
05:44But the one thing I didn't see him as a guy that needed a palace to live in.
05:49You talk to the guy, it's like talking to a nothing.
05:52It's like talking to a chair.
05:54No personality, no high intelligence, no nothing.
05:58But the one thing I would have never guessed is that he would be spending $2.5 billion to build a little extension onto the fence.
06:06Is that a fireball thing?
06:07No, but he's ever seen it.
06:09I think it sort of is.
06:10Because if you look at his testimony to the House and the Senate, you take a look at the testimony, it's under Earth.
06:18That whole thing is, he's not, you know, he's not talking about the problem.
06:22It's a big problem.
06:23$2.5 billion.
06:24And that's $2.5 billion now.
06:26That's going to be a lot more money than $2.5 billion to expand.
06:31And with all of that to house thousands of people to give him information.
06:35And yet, out of the 71 economists, and they included me, me and one other person got it right.
06:43I got it right, and one other genius got it right.
06:47They had everybody else was wrong.
06:4969 were wrong, and two were right.
06:51I was one of them.
06:52And I don't have a lot of people.
06:54I have a lot of people.
06:55I have Howard.
06:56I have Doug.
06:57I have a few people.
06:58He has thousands of people, and he got it wrong.
07:02No, I think when you spend $2.5 billion on, really, a renovation, I think it's pretty disgraceful.
07:10On the Fed chair, sir, sir.
07:11Have you spoken to President Putin since your announcement yesterday?
07:15No.
07:16And do you think, when you speak to him on the phone, does he say that he wants peace?
07:21Yeah.
07:22What does he say to you?
07:23He says he wants peace.
07:24Yeah.
07:25Do you believe him?
07:26I mean, you think about it.
07:27India, Pakistan, we did so many.
07:28The Congo.
07:29I mean, look at the deals we made.
07:30We made all these peace deals.
07:31Look at Rwanda.
07:32It was an impossible deal to make with the Congo.
07:33I made that.
07:34I made all of these deals.
07:35Serbia, Kosovo.
07:36And here's the one deal.
07:37And actually, Vladimir called me up.
07:38He said, I'd love to help you with respect to making a deal with the Congo.
07:43And he said, I'd love to help you with respect to making a deal with a couple of them, like
07:58Iran.
07:59I'd love to help you.
08:00I say, Vladimir, I only want to help with one deal, Russia, because you're the only
08:05deal that we're not doing too well on.
08:07He often times, often times he said, no, he wants me.
08:12And I think he does.
08:13I hope he does.
08:14We're going to find out soon.
08:15And it could be before the 50 days.
08:17Mr. President, twice yesterday when you were talking about this,
08:20you mentioned conversations you had with the First Lady after talking with President Putin.
08:24Has she influenced your thinking on this at all?
08:27She's very smart.
08:29She's very neutral.
08:31She's very neutral in a sense.
08:33She's sort of like me.
08:34She'd like to see people stop dying.
08:36You know, people said, are you for one side or another?
08:39I'm for the side of people stopping dying.
08:42We have 5,000, 6,000, and 7,000 people a week, at least.
08:48And that doesn't include people from the cities and towns that are having rockets lobbed in there.
08:55I mean, people are dying in the cities and towns, too.
08:58But we're talking about 7,100 in the last eight days died.
09:04And I'm for stopping you.
09:06On the Fed chair search, sir, is Scott Besson, your Treasury Secretary, your number one option whenever Jerome Powell leaves?
09:14Well, he's an option.
09:15Is he your top option?
09:16And he's very good.
09:17Well, he's not because I like the job he's doing.
09:19Right.
09:20So, in that sense, probably he's not that much of an option.
09:21Right.
09:22Scott's been great.
09:23He's been terrific.
09:24He did a good job today.
09:25He's a very soothing force.
09:26You know, it's soothing.
09:27All right.
09:28Mr. President, pharmaceuticals will be tariff probably at the end of the month.
09:29And we're going to start off with a low tariff.
09:30And give the pharmaceutical companies a year or so to build.
09:31And then we're going to make it a very high tariff because we got to move them in.
09:33Look, how did you do it?
09:34He did a good job today.
09:37It's a very soothing force.
09:39You know, it's soothing.
09:40All right.
09:41Mr. President, pharmaceuticals will be tariff
09:46probably at the end of the month.
09:48And we're going to start off with a low tariff
09:50and give the pharmaceutical companies a year or so to
09:53bill, and then we're going to make it a very high tariff
09:56because we got to move them in.
09:59Look, as you do it, you make money and for and or
10:04you have them move here so they don't have to pay
10:06the tariff.
10:07Those are the two ways.
10:08The pharmaceutical companies are moving back to
10:11America where they should be.
10:13Mr. President, sir, is that in the same timeline?
10:16The semiconductor tariff?
10:17The similar, actually less complicated but similar.
10:22Semiconductors and chips.
10:25Mr. President, I know you've urged people to move on,
10:27but I'm curious, why do you think your supporters in
10:30particular have been so interested in the Epstein
10:33story and so upset about how it's been handled?
10:35Why do you think that is?
10:36I don't understand it.
10:37Why they would be so interested?
10:39He's dead for a long time.
10:41He was never a big factor in terms of life.
10:45I don't understand what the interest or what the
10:47fascination is.
10:49I really don't.
10:51And the credible information has been given.
10:54Don't forget, we went through years of the Mueller
10:56witch hunt and all of the different things, the Steele
10:59dossier, which was all fake.
11:01All that information was fake.
11:03But I don't understand why the Jeffrey Epstein case
11:06would be of interest to anybody.
11:08It's pretty boring stuff.
11:10It's sordid, but it's boring.
11:12And I don't understand why it keeps going.
11:15I think, well, really only pretty bad people,
11:19including fake news, want to keep something like that
11:22going.
11:22But credible information, let them give it.
11:25Anything that's credible, I would say, let them have it.
11:29The Pressure, Mr. President, a question on AI.
11:32How do you want Americans to think about it?
11:35Are you concerned about job loss or privacy?
11:38Or do you think this is a new technology?
11:41The President Biden's question, because we need jobs.
11:43We need a lot of people to work.
11:46You know, we're building, we're going to be building
11:48very shortly hundreds of factories, including AI.
11:51We're building a lot of car factories.
11:53They're all coming in from other countries now,
11:55in order to avoid paying the tariffs.
11:58And we need people working.
12:00So if AI can help us with that, that's a positive.
12:04Because we're not going to have enough workers to take
12:05care of it if we don't create something.
12:08So whether it's robots or whether it's AI,
12:11we need somebody to take care of it.
12:12You agree with that?
12:13The President Biden's question, I agree.
12:14So many jobs to build.
12:16I mean, think about it.
12:17Fifteen trillion dollars.
12:19That's five million people working in these factories,
12:23building up great, high-paying jobs in America
12:26that President Trump has brought back.
12:27So those jobs, of course, are in the wings.
12:31So let's go, let's train America, and let's get it going.
12:35The President Biden's question, what would you say about this job?
12:39The President Biden's question, I think with AI,
12:40as Howard and the President said,
12:42we're going to need more workers in this country,
12:43because President Trump is the greatest economic developer
12:47that this country has ever had.
12:48It's brought back this record amount of foreign direct
12:51investment and a record amount of U.S.
12:53investment going back into job creation.
12:56But the mix is going to change.
12:57AI will take jobs away, like software development,
13:00because AI can write code.
13:02But AI can't wire a building to do plumbing.
13:05I mean, if kids go into the trades today,
13:07they're all going to be making 150 grand,
13:09and they'll have amazing live-built companies,
13:11start businesses.
13:13I mean, this is part of the boom of America,
13:15because middle-class, working-class,
13:18working Americans will never have had it as good.
13:20They have a lower tax, with more regulation,
13:22and more opportunities to go to work to build things.
13:25We need people.
13:26We really need, because we're building so many factories
13:29in the country, and so AI can help with that.
13:32But what also is going to help are going to be robots.
13:35You know, the robots, I think, are going to be a big deal,
13:37and that's going to help also.
13:39The Press on the Russian sanctions, sir,
13:40on the secondary tariffs,
13:42are you concerned that secondary tariffs on buyers
13:44of Russian oil will hurt American consumers,
13:47higher gasoline prices?
13:48The President, I think that whole thing
13:49is going to go away eventually.
13:51It should have gone away.
13:52And Putin does say,
13:53oh, I want peace, I want peace.
13:55But so far, he hasn't lived up to that.
13:57So I think it's going to go away.
13:58But we're going to find out soon.
14:00We're going to find out soon.
14:01Can you give us more details on the sanctions?
14:03Is it 100 percent sanctions on Russia?
14:04The President, I don't want to do that.
14:05But they're very fighting, they're very significant,
14:08and they're going to be very bad for the countries involved.
14:11I mean, they'll be very, very powerful
14:14and very bad for the countries involved.
14:16And I hope we don't have to pull that string.
14:19And maybe we won't.
14:20We've got to end.
14:22We've got to stop the killing.
14:24The Press, Mr. President, were you frustrated today
14:25that the House wasn't able to move on that crypto legislation?
14:28You know, the interesting thing is the 12 votes
14:31were votes where they wanted it to be stronger
14:34in terms of crypto people.
14:37I figured, oh, wow, that's sort of interesting
14:39because I was focused really on today's meeting, not that.
14:42But the interesting is the votes, those negative votes,
14:46were because they wanted it to be, as a safe country,
14:48they wanted it to be stronger
14:51for people with Bitcoin or crypto.
14:53They wanted more strength, which is interesting.
14:56The Press, what do you want to refine in the U.K. trade deal?
14:59We have a little to discuss,
15:02but the deal is really, very well done.
15:03But I'll meet with the Prime Minister.
15:05We have a good relationship.
15:07And I think it's going to be, and it'll be very shortly,
15:10and it'll be probably an Aberdeen shot.
15:13The Press, Mr. President, at the event,
15:15I think, Mr. President, at the event,
15:16with states besides Texas, would you like
15:17draw vocations to gerrymander?
15:19The Press, say it again?
15:20With states besides Texas, would you like
15:21Republicans to redraw the congressional?
15:23Well, there's about four of them.
15:24I'll let you figure that one out,
15:25but we have about four of them.
15:28In three cases, it's one.
15:30And in one case, it's two or three.
15:33And Texas would be five.
15:35The Press, are you concerned California
15:36will turn around and do the same thing, Republicans?
15:39You know, they're so corrupt in California,
15:40you never know what's going to happen.
15:42But we've done pretty well in the courts in California,
15:44as you see.
15:45We're batting about 1,000, ultimately.
15:49We start off a little slow, and then we get a lot of hits.
15:52Mr. President, you said today at the event in Pittsburgh
15:55that if it wasn't for Mr. Lutnick, Mr. Besson,
15:58who want to do more deals, that you would basically
16:01just go with the letters.
16:02You've said that a few different times.
16:03I just want to clarify.
16:05Do you just want to go with the tariffs and move on?
16:08The President would like to make deals more than me.
16:10I'm satisfied with it.
16:12But they would like to make deals more than me.
16:15I'm not saying they're wrong.
16:17In my opinion, he and Scott and maybe even Doug
16:21to a certain extent, you're more like me, I think.
16:24But they would like to make deals more than me.
16:26I'm very happy with the deals the way they are.
16:28Those are very, right?
16:30Those are very simple deals.
16:32It's whatever the percentage is.
16:34And we base that on a lot of things,
16:35including the deficit and, you know, various things.
16:38And I think it's a much faster way.
16:42Don't forget, we'll be releasing a letter soon
16:45and we're talking about many countries
16:47that are much smaller,
16:49where you're not going to do letters, per se.
16:51You might do an individual letter,
16:52but it's going to go very quickly.
16:54And the number will also be less.
16:55Which countries are those?
16:56These are countries that are, many of them,
17:00you know, like 200 countries, if you understand.
17:03The President Biden countries, African countries.
17:05You have a huge amount of countries that are small,
17:08and the President is just going to deal with them
17:10sort of the way he thinks and the right way
17:12to deal with them in big size.
17:13We'll probably set one tariff for all of them.
17:16Over 10 percent?
17:17Over 10 percent tariff?
17:18Probably a little over 10 percent.
17:2015, 20?
17:21We don't do a lot of business,
17:22but we do, you know, it's still significant.
17:24What about Israel, Mr. President?
17:25Is that related to your other, like, the Gaza negotiations?
17:28Is that tied up in other issues?
17:30No, I think Israel's going to be,
17:33Israel's going to be fine.
17:34We had a great victory with Israel.
17:36That was a great, great victory.
17:38What we did with the B-2 bombers and all of that.
17:42And, you know, I never thought of it.
17:44But so many people are thanking me.
17:46They say no President had the guts to do it.
17:49Because, you know, this has been going on for 25 years.
17:52In fact, when the pilots came to the Oval Office,
17:54they said, sir, we and our predecessors
17:57have been working on this attack for 25 years.
18:02Have a good time, everybody.
18:03The President Biden's The President's The President.
18:05Thank you, President.
18:06Thank you very much.