President Trump: 'I'm Not Negotiating On Auto Tariffs'

Speaking to reporters on Thursday, President Trump was asked if he would negotiate on auto tariffs.

Transcript

00:00It's a shame.

00:01Are you negotiating on auto tariffs?

00:03Your auto tariffs are...

00:05No, I'm not negotiating on auto tariffs.

00:07So does the EU get 15% like Japan?

00:10Well, it depends.

00:11What Japan did is they bought down their tariffs.

00:13They gave us $550 billion because they didn't want to pay 20.

00:18They were 28%.

00:20And they gave us $550 billion up front.

00:24100%, 500.

00:26We get 90, they get 10.

00:2790%, they get 10.

00:29And there's no payment.

00:31It's not a loan or anything.

00:32It's a signing bonus, I call it.

00:35But they gave us $550 billion and took down the tariffs a little bit.

00:39And then they agreed to open their economy to everybody.

00:42This was not easy.

00:43This took, you know, a lot of people walked out of rooms and things.

00:46Sometimes they walked out of rooms, went back to Japan.

00:49I said, where are they?

00:50They went back to Japan.

00:51And then they called and they said, can we make a deal?

00:54They came back a couple of times, this happened.

00:56This was, as you know, it was over a period of months.

00:58And ultimately, they agreed to open their economy.

01:02Now, the opening of the economy is worth more than $550 billion.

01:07The payment that they made, it's worth more.

01:09So between that and the payment, we reduced it down to 15%.

01:13But they were at about 28%.

01:15And then they bought it down, basically.

01:17But could other countries buy it down?

01:19Yeah, I would let other countries buy it down, Chef.

01:21Mr. President, do you feel better or worse about your relationship with the President?

01:24Mr. President, do you feel better or worse about your relationship with the President?