Enhance Your English with U.S. Government News – Trump Makes a Trade Announcement,  2025. 5. 08.

0:06 you all set to go this is ready when you are Okay we’re ready We have the prime minister on the 0:12 phone and we have a nice hookup This looks like the kind of a hookup that’s not going to be causing any problems And 0:19 your voice comes through beautifully Kier So I just want to Oh that’s good Yeah it is You sound great Uh I just 0:26 want to begin by saying that uh this is a very special day because it’s victory 0:31 day World War II May 8th and just by uh 0:36 happen stance we have the prime minister on the phone and we were great allies in 0:42 that and it’s very unusual that the trade deal comes due and we signed it up 0:47 uh on the same day that we had a great victory the greatest victory of them all So we are talking more and more about 0:54 Victory Day because we were a big part of it and so was uh the UK and it’s just 1:02 uh I guess I don’t know what you call it It’s just incredible that that day is the same day that we signed a tremendous 1:09 trade deal for both countries So I’m going to begin by just uh adding that we 1:15 just concluded the rare earth deal with Ukraine that’s been fully ratified and approved by their legislative branches 1:23 and so we appreciate that and I’ll be speaking with uh the president in a 1:28 little while a little bit later and we appreciate that But the deal is all now signed up and 1:34 ratified and we have access to a massive amount of very very high quality rare 1:41 earth This morning I’m thrilled to announce that we have reached a breakthrough trade deal with the United 1:47 Kingdom Credible country Today is a victory day for World War II We won the 1:54 war together exactly 80 years ago So there could be no more perfect morning 1:59 to reach this historic agreement And it’s beautiful weather out I will tell you that Kier Beautiful weather It’s so 2:05 perfect outside But it’s uh really in particular the agreement with one of our closest 2:12 and most cherished allies and we’re so happy that that’s 2:17 the way it worked out I want to thank Prime Minister Starmer and his very talented team for their outstanding work 2:24 and partnership Today’s agreement with the UK is the first in a series of 2:29 agreements on trade that my administration has been negotiating over the past four weeks With this deal the 2:36 UK joins the United States in affirming that reciprocity and fairness is an 2:41 essential and vital principle of international trade 2:47 The deal includes billions of dollars of increased market access for American exports especially in agriculture 2:54 dramatically increasing access for American beef ethanol and virtually all 3:00 of the products produced by our great farmers And our secretary as you know of 3:06 agriculture is here Brooke Thank you very much for being here Thank you sir You’ll let the farmers know In addition 3:12 the UK will reduce or eliminate numerous non-tariff barriers that unfairly 3:18 discriminated against American products But this is now turning out I think really to be a great deal for both 3:24 countries because it’ll be really great for the UK also So they’re opening up uh 3:30 the country Their country is a little closed and uh we appreciate that They’ll 3:35 also be fasttracking American goods through their customs process So our exports go to uh a very very quick uh 3:44 form of approval and there won’t be any red tape Things are going to move very quickly both ways The final details are 3:51 being written up in the coming weeks We’ll have it all very conclusive but the actual deal is a very conclusive one 3:58 We think just about everything’s been approved Uh so good for both countries 4:04 And we’ll also receive new market access for American chemicals machinery and many other industrial products that 4:10 weren’t allowed Uh and they’ll end up getting products that they’ll be able to price and if they like them better and 4:17 we make great products they’ll be buying those products but they were not uh available in the UK Furthermore in a 4:23 historic step the deal includes plans that will bring the United Kingdom into the economic security alignment with the 4:30 United States That’s the first of its kind So we have a big economic security 4:36 blanket and that’s very important and we feel uh very very comfortable with that because it’s been a great ally truly one 4:43 of our great allies I mean a lot of people say our greatest ally I don’t want to insult people by saying that but 4:49 I can say it’s certainly one of our greatest and right at the top and they’re the first one we’re talking 4:54 about And by the way we have many meetings planned today and tomorrow And 5:00 every country wants to be making deals And we have a meeting as you know 5:05 Scott will be going over to Switzerland on Saturday and that’ll be very very 5:10 interesting We’ll find out but I think they want to make a deal very badly too Both countries have agreed that the 5:16 economic security is national security and we’ll be working together as allies to ensure that we have a strong 5:22 industrial base appropriate export controls and protections for key technologies and industries like steel 5:29 Steel is a big factor Both countries will become stronger with steel and things necessary for military You know 5:35 we used to build ships and other things uh literally at a level that nobody’s ever seen And uh we haven’t We’ve eased 5:43 up and I would say that the UK certainly eased up but now we’re going to be uneasing both And we work together Once 5:49 again I want to thank Prime Minister Storm He’s been terrific for his partnership in this matter The special 5:55 relationship and external bond It’s really an external and an internal bond 6:00 between our two countries will soon be stronger than ever before And we really do We have a great relationship Uh I 6:06 want to just say that the representatives of UK have been so professional and uh it’s been an honor 6:13 doing business with all of them and in particular the prime minister and I’d like to introduce him now to say a few 6:19 words Mr Prime Minister please take it away 6:24 Uh thank you Mr President Donald and um this is a really fantastic uh historic 6:31 day in which we can announce um this deal between our two great countries and I think it’s a real tribute um to um the 6:40 history that we have of working so closely um together Can I pay tribute Donald to your negotiating team as well 6:46 particularly Howard and Jameson who’ve done an incredible job a very professional job um and my team as well 6:53 Two negotiating teams have worked at pace now um for a number of weeks to 6:58 bring in this uh deal uh today Really important deal This is going to boost trade uh between and across our 7:06 countries It’s going to not only protect jobs but create jobs um opening market 7:11 access and as you say Donald the timing couldn’t be more apt because not only 7:18 was it 80 years ago today um that um 7:24 victory uh came for Europe after and at the end of the second world war But of 7:30 course on that day the UK and the US stood together as the closest of allies 7:35 And Donald I think um even down to the hour because um you may or may not know 7:41 that it was about this time of day exactly 80 years ago uh that Winston 7:47 Churchill announced um victory in Europe Um and that led to great celebrations um 7:55 across Europe across America but particularly in the United Kingdom um literally people going out into the 8:01 street uh putting bunting up um going up to the palace and um so to be able to 8:07 announce this great deal um on the same day uh 80 years forward um almost at the 8:15 same hour um and as we were 80 years ago with the UK and the US standing side by 8:22 side I think is incredibly important and makes this truly historic Um that close 8:29 relationship has endured over those 80 years Um as you know Donald when it comes to defense and security and 8:35 intelligence sharing of course there are no two countries that are closer than our two countries And now we take this 8:42 into new and important territory by adding trade and the economy to the closeness of our relationship It is 8:50 built as you say on those notions of fairness um and reciprocal arrangements 8:56 We’ve always had a fair and balanced arrangement between our countries This builds on that Hugely important um for 9:03 sectors like car manufacturing and for steel and aluminium and so many others 9:09 Um and yes um we can finish hing out some of the details but there’s a plat 9:14 fantastic platform here including of course on the tech side uh where I think I’m right in saying we’re the only two 9:20 western countries with trillion dollar sectors when it comes to tech Um and in 9:26 the end it comes down to um as you say Donald uh economic security is national 9:32 security on national security we’ve been absolutely the closest of allies for so 9:37 many years keeping the peace through that close um alliance that friendship um and now we add to that this uh deal 9:45 on trade and the economy and I want to thank you uh for your leadership on that 9:51 Donald um and for um the way in which your team have negotiated this and I’m 9:56 so pleased that we’ve got this deal Um we’ve finalized it Um and um we’ve built 10:02 an incredible platform um for the future So thank you so much Um Donald I’m now 10:08 going to go and do a press um conference I think you have your press in um with you Uh but on the details I think if 10:15 you’ve got Howard um we can um uh deal with that through 10:20 um one of my team That’s great Well Mr Prime Minister thank you very much It’s an honor We’re going to have a continued 10:27 maybe a better relationship than ever before You know um I don’t know if the media knows but the US and UK have been 10:34 working for years to try and make a deal and it never quite got there but it did 10:40 with this prime minister So I want to just congratulate you Well with this president this prime minister we’ve 10:46 managed to achieve what many people have tried to achieve for many years Um and I’m really pleased and it feels uh 10:53 completely historic and and on a special 80-y year anniversary as well So Donald 10:58 thank you so much Um it’s really good to have got this um deal over the line Um 11:03 tribute to both teams tribute to our countries and tribute to your leadership Thank you Well it really is a great 11:09 thing and you go do your press conference and I’ll see you soon maybe speak to you later Uh but thank you very 11:15 much and an incredible thing I can’t tell you that for so many years even as I sat everybody talked and talked and 11:21 talked about a deal with it just seemed like a natural deal but uh it was not done but now it was done with us so I 11:28 feel very proud to have been a part of it Kier thank you very much 11:33 thanks Donald and we’ll speak again soon very good so long 11:45 by Why don’t I do this why don’t I have our Secretary of Commerce Howard Lutnik 11:50 uh give a little description of the deal pretty quick and then uh the uh the good 11:57 the good side the very nice side will be speaking about it also maybe from uh so 12:02 you get a pretty equal I think it’s a very uh it’s just been a deal that was 12:07 we thought very complicated It became very simple It’s opening up the country that we really didn’t have the kind of 12:13 access to that I would have thought I was surprised I think it’s why the deal never got done before It was you know they’ve been working on this deal for 25 12:20 years and uh we got it done and we got it done really It’s going to be great for both countries So Sarative you could 12:26 go and then uh somebody else you may have uh you’ll pick whoever whoever you 12:32 want who’d like to do I have a feeling you’re going to do it right so uh you guys go ahead and then we’ll take 12:38 questions right after that But I think you’ll get a pretty good understanding of how big it is It’s a very large deal 12:43 Very big deal And uh Howard go ahead So the UK is the sixth largest economy in 12:50 the world and the fourth largest that we export to right so it’s a huge market a 12:57 top 10 market If you remember liberation day they were at 10% Because we have 13:03 balanced trade with the UK right they say they have a surplus but of course that counts gold bullion which is so 13:10 let’s just call it balanced trade So how do you open up a market in balanced trade people think it’s impossible 13:16 They’ve always thought it was impossible until uh President Trump came on the scene and changed the way things work So 13:23 here’s what we’ve got We’ve opened up new market access ethanol beef machinery 13:30 uh all the agricultural products They’ve agreed to open their markets and that will add5 billion dollars of opportunity 13:38 to American exporters So the question is why why would they do that now because 13:43 they’ve never done it before and we still have a 10% tariff on which will produce $6 billion of revenue for the 13:50 United States So the idea was how do they keep their jobs protect their 13:55 economy and do the best for their people while opening the market for us And the way is they studied it their team was 14:02 exceptional and they tried to figure out the markets that they’re importing from other people and try to send them over 14:09 to America So why were they why were they always favoring others and not us and what they’ve done is they’ve found 14:14 the ways to do that so that we have new access right but the UK workers are 14:22 protected and that was the balance So you’ve got we did a deal with them in automobiles and you know if you’re not 14:29 building here we charge you a 25% tariff but the president and by the way I want 14:34 to make this clear while Jameson and I worked hard this was the president’s deal and people think oh that’s not the 14:40 way it works If you got to sit next to him I have the best dealmaker to my left and if you don’t think that we take 14:47 advantage of him calling the prime minister and getting that deal done you don’t understand who’s the president of 14:52 the United States So he’s the closer He gets deals done that we could never get 14:57 done because he understands business He understands deals And that’s why we’re 15:03 here today So he agreed they could send 100,000 cars into America and only pay a 15:10 10% tariff and that protects their car industry And remember we do 16 million 15:16 cars a year So this is only like 6% But for the UK auto people this is tens of 15:23 thousands of jobs that the president agreed that he would protect for them So he made that deal right then steel and 15:31 aluminum right their steel business has been destroyed like everybody else has been destroyed by people dumping steel 15:38 into their markets And British Steel had announced it was closing down So the British government as part of this deal 15:45 nationalized British steel and they’re going to match the kinds of models we do 15:50 They’ll put tariffs on they’ll put quotas on They want to do it with America so they can be part of the 15:56 resurgence of steel and aluminum in America And that saves them again thousands and thousands of jobs So if 16:03 you go step by step uh Arrow and commercial uh planes they sell 16:09 Rolls-Royce engines to Boeing We’ve agreed to let Rolls-Royce engines and 16:14 those kind of plane parts to come over tariff-free And what you’re going to hear today is there’s going to be an 16:20 announcement at the UK that they are buying 10 billion dollars worth of 16:26 Boeing planes later today but I’m going to let the the name of the airline announce it because that’s theirs to do 16:32 But part of this deal was always to do it together and to do it strong And you 16:38 can see the numbers on this board Everything about this board works exceptionally well for the United States 16:43 of America It lays out the plan that you can work with us in autos You can work with us with arrow and commercial You 16:50 can work with us in pharmaceuticals if you have a supply chain that is secure and protected in national security So we 16:57 feel really good about the deal You’ve heard the prime minister he feels really good about the deal right and we started 17:02 at 10% and we ended at 10% and the market for America is better And this is 17:09 a perfect example of why Donald Trump produced liberation day People don’t 17:14 understand he gets things done in a matter of time This would have taken Jameson and I three years maybe And 17:22 instead we got it done in 45 days certainly because we work for Donald 17:28 Trump So Jameson my partner in all this maybe Jameson you like to talk a little and then we’ll turn it over to the UK 17:33 Sure Happy to do that Everyone has has had great remarks Uh I just have to echo 17:40 the president the prime minister when we talk about VE Day This is something we’ve been waiting for for decades and there is no more appropriate day to do 17:46 this And when we step back and we look back a few weeks from now or months from now or years from now we’re look back at 17:51 this day and and better appreciate the significance I think um and I’ll just 17:56 say as well in terms of negotiating I mean the UK negotiators you know we we’ve got we’ve got one right here uh 18:03 did an incredible job right this is why this is why you win wars right when you act like this And uh the ambassador he 18:08 knows more about trade than a lot of us here based on his background And I would say on this deal Mr President what we’ve 18:14 shown is that it is time to change the way we do trade Uh people said we 18:19 couldn’t do uh a global tariff We did a global tariff They said no one would want to deal with us People want a deal 18:25 They said no one give offers You saw that stack of offers I showed you yesterday All those countries said we wouldn’t get deals And here we are with 18:31 a deal with the sixth largest economy We’ve agreed to have fair and reciprocal trade and we’ve done it in record time 18:38 Thank you very much Great job Thank you Mr Ambassador Please Well Mr President thank you very much indeed in um hosting 18:46 us this morning Uh and thank you very much indeed also for that very typical 18:53 11th hour intervention by you with your phone call to the president demanding 18:58 even more out of this deal uh than any of us expected So thank you for that 19:04 Prime Minister was delighted obviously to take that call late tonight Um but 19:10 you took it to another level and I think the point I would make is is twofold One 19:16 is that if we’re going to rebalance and rebuild international trade uh in a way 19:22 that serves all our interests then we’re better doing that together than 19:28 separately and and apart And that’s what we’re on a mission to do But secondly 19:35 you’ve done what you said you would do You said to the prime minister uh when 19:40 uh he came and we visited in the oval uh that you would do a good trade deal with 19:47 the United Kingdom that you would do it at pace and that we would be first and 19:53 you have delivered that You you’ve been true to your word So thank you very much indeed for that Uh for us it’s um not 20:01 the end It’s the sort of it’s the end just of the beginning I mean there is yet more we can do in reducing uh 20:09 tariffs and trade barriers so as to open up uh our markets to each other even 20:15 more than we are agreeing to do today But it also provides us with the 20:21 platform the springboard uh to do what I think will be even more valuable for 20:27 both our countries in the future and that’s creating a a technology 20:32 partnership uh between the United States and the United Kingdom uh so that we can 20:38 harness science and technology in order to create future industries and future 20:44 jobs and to do that together in the way we work so closely already in the 20:49 national security and defense uh area We can just take that to yet further areas 20:56 of science uh enterprise and endeavor So we’re looking forward uh to doing that 21:01 in the uh uh coming um months Uh you’ve launched us extremely well uh today Um 21:09 it it just in my view as the prime minister has said just shows what two 21:14 countries who trust each other who are confident in each other and are familiar with each other uh can do not just for 21:21 ourselves but for those the rest of the world who need to benefit from a bigger and better international trading system 21:30 Thank you very much beautifully stated What a beautiful accent I’d like to have that accent 21:36 Thank you My mother would be proud Thank you very much Any questions james 21:41 Matthews from Sky News Yes Can I ask um why Britain and why now and you 21:47 described this deal as a full and comprehensive deal and yet we’ve just heard from Mr Mles and it’s the end of 21:54 the beginning Clearly there’s much more work still to do With respect are you 21:59 overstating the reach and significance of this deal because you’re a president who needs a result at a difficult time i 22:06 think that it’s a great deal for both parties It’s for us We’re opened up uh I 22:11 didn’t know how closed it was quite closed the market as you know the UK and it opens up a tremendous market for us 22:18 and uh it works out very well very well and a lot of a lot of assets you see the 22:25 chart and those are tremendous assets but we’ve been trying and when you say why us meaning your country uh we’ve 22:32 been trying for years and they’ve been trying for years to make a deal including when I was in the you know first term 22:38 uh it would always be people talking but they weren’t getting it done but for 25 22:44 years before that they were trying always to make a deal a u a very 22:49 significant deal I actually until I looked at the numbers I didn’t realize this is a very uh conclusive deal but we 22:56 think we can grow it even from that but this is a maxed out deal not like you said it you said it 23:02 uh really incorrectly this is a maxed out deal that we’re going to make bigger uh and We make it bigger through growth 23:09 But we have uh tremendous assets involved I was surprised to see how big your country is in actually one of the 23:16 biggest in technology and so many other things It’s agriculture Uh I really 23:22 didn’t know it’s uh depending on your definition It’s from four to five to six It’s that’s pretty big in the world So I 23:30 was very impressed by that But we’re going to take it to new levels It’s a 23:35 it’s a it’s a very big deal right now but I think it is going to grow just of 23:40 its own valition It’s going to grow and over time there’ll be changes made There’ll be adjustments made because 23:46 we’re flexible We’ll see things that we can do even better But it’s very 23:51 conclusive and we uh we think everyone’s going to be happy and the people of your 23:57 country are going to be very impressed with uh the result and they’ll be able to buy from more people They’ll be able 24:03 to price things differently they’ll be able to get some products that aren’t available to to them now that we make 24:08 better than anybody in the world And it’s just something that it’s it’s a great thing that it came together It’s 24:14 so nice because we have many countries want to make a deal and many countries 24:20 are very unhappy that we happen to choose this one to be honest with you 24:25 that long time uh our oldest ally or just about uh guess a couple of people 24:32 claim that too but uh let’s put it right at the top I think it’s going to be something very special for UK and 24:39 special for the United States Thank you Mr President Reagan Ree with 24:45 the Daily Caller How close are you to more deals and when do you expect the next to be announced well very close We 24:51 have numerous deals because I know Howard’s going back as soon as this is finished your press conference He’s got 24:56 numerous and Scott who’s right over here who’s fantastic by the way You were great on television this morning I watch 25:03 you know gave them a little lesson in the world and economics But Scott’s going to 25:09 be going to uh Switzerland meeting with China and uh you know they very much 25:15 want to make a deal We can we can all play games Who made the first call who didn’t make the doesn’t matter It only 25:21 matters what happens in that room Uh but I will tell you that uh China very much wants to make a deal We’ll see how that 25:27 works out Every country throughout uh the last 25:32 40 50 years has literally ripped off the United States on trade on military on protection on all the different things 25:39 And we are now making fair deals And uh in this case it’s great because we really weren’t very much involved You 25:46 have the European Union which is uh I think you know I think you made the right decision years ago I don’t know if 25:52 you remember I was opening up Turnberry the day that you were voting and they asked me would it happen or would it not 25:59 happen i said no I think they’re going to go their own separate way I think it’s better for them and they did I think it’s going to end up being a very 26:05 smart decision But uh a big part of that decision was always that you’d be able to make a deal with the United States 26:11 and they were unable to do that But now they made it and it’s a tremendous uh you know it’s very important That was 26:17 always a big part of your decision on Brexit and uh they were never able to 26:23 make that deal It was you know it was a tough one And this one was it’s amazing with time This one just went very 26:30 smoothly Went quickly and smoothly and a lot of common sense as I like to say It’s tremendous common sense but it’s 26:37 going to make your country much bigger in terms of trade and it’s going to make our country much bigger in terms of 26:42 trade too Yes Go ahead Behind you Tom Tom Baitman at 26:48 the BBC Thank you Mr President Um you mentioned me with who the BBC Oh good Very nice They treat it beautifully You 26:54 mentioned meat uh and beef exports The UK currently doesn’t accept American 27:00 beef because of its own foods food standards Um are you calling on the UK 27:06 to accept all American uh beef and chicken products well I think they’ll 27:12 take what they want We have plenty of it We have every type Uh we have every uh 27:18 classification you could have Uh as you know Bobby Kennedy is uh doing a tremendous job and he’s I think probably 27:24 heading toward your system with uh no chemical no this no that I think we’re 27:30 heading that way It seems to be and uh but we have that also So we have we’re 27:37 very big country We have a lot of beef We’re a very big country So it’ll be it’ll be great Yes Yes You want me to 27:43 jump yes Let’s talk about American beef uh really quickly And it can’t be understated I’m Brook Rollins by the way 27:49 um how important this deal is and what this means to American farmers and ranchers Specific to the beef this is 27:55 going to um exponentially increase our beef exports And to be very clear 28:00 American beef is the safest the best quality and the crown jewel of American 28:05 agriculture for the world So I think a really important part of this deal isn’t just the ethanol reducing of tariffs 28:11 from 19 to zero which for our rowcroppers is a huge deal but also for beef And as we move forward uh I know 28:18 our incredible trade team is looking at all of the meats all of the produce uh really all of our agriculture exports 28:23 And I don’t know if there’s an industry that has been treated more unfairly and has suffered more than our agriculture 28:29 industry So we look forward to I’ll be in the UK on Monday uh talking to my counterpart over there for the next 28:35 really for next week and look forward to to moving that out across the country the president is is I I think we could 28:41 say that we have the best in the world best tractors the best everything in the 28:46 world and they say that our agriculture is you know second to none You understand and it’ll be a great asset 28:52 People are going to be able to have options choice and they’ll have more of it and that usually means lower prices 28:58 How about we’ll do you than you follow question for Italian TV Daniel Compatango LA7 with 2005 prime time 29:04 media So congratulation for the deal will see a big revenues from the chart But what’s the rest of Europe there is 29:11 it’s a victory day but other European country are seems like they’re losing the training Intended to make a deal 29:16 with Europe Uh we have found that the European Union treated us extremely 29:22 unfairly very difficult and hurt themselves in doing so And they very much want to make a deal We’ll be 29:28 dealing with them We are dealing with them currently So that’ll cover pretty much the rest of it But this was 29:35 separate because of Brexit in particular you know this was a separate a separate deal It it always seemed so natural I 29:42 mean all the media would say that this seemed to be like “Why did this happen 25 years why didn’t it happen a long 29:47 time ago?” And it was always uh amazing to me Somebody would say “Hey we got to make a deal We have to make a deal.” But 29:54 this deal just fell into place The prime minister did a fantastic job His representatives are total professionals
30:00 and they got along well And it just seemed to work And I think one of the reasons it did is because we blew up the 30:06 whole system If we would have just been dealing with you separately or you know country by country we blew up the whole 30:13 system It was very fair to the United very unfair to the United States and I think because of that this worked out so 30:20 nicely and I’m honored that it was the first deal please Sir mentioned well why don’t you go in the back yes Oh thank 30:27 you sir It’s I’m with the London Times I would say this is a great day for James Bond because now Aston Martins will be 30:33 available to American buyers But would it be even better by extending it to film you’ve talked about a big tariff on 30:40 on films and we’d like to know if there be relief on British We’re going to have a discussion on that separately and as 30:47 you know we’re putting tariffs on that particular film you said uh the movie makers and we’re going to be doing some 30:55 tariffs to get them because a lot of them have left this country They all live here The money comes from here 31:01 Everything comes from here but they make them in other countries So we’re going to do something to bring them back Uh 31:07 maybe to a large extent but uh James Bond has nothing to worry about that I can tell you James and you know Sean 31:14 Connory was a friend of mine Sean Connory was responsible for my getting zoning in Aberdine He said “Let the 31:20 bloody bloke build his golf courses and you know I was like four years into the 31:26 process and it was impossible in Aberdine and he I don’t know he just 31:31 stood up one day and he said that as soon as he said that I got the approvals in about two minutes so he had great he 31:37 was a great guy Sean Connory and uh great character there in the in the later in the year You’re going back to 31:42 are you going to Scotland and and to the I will be sure it’s great and we have a lot of investment over there We have 31:48 Turnberry Aberdine We have uh as you know in Dune in Ireland right on the 31:53 ocean They’re all on the ocean I only have interest if they’re on the ocean and uh we have we have good investments 32:00 over there Been beautiful Yes Mr President If the talks go well this weekend between Secretary Basset and 32:05 Ambassador Greer with their Chinese counterparts not preemptively but if the talks go well would you then consider 32:10 lowering the tariff rate on China well it could be I mean we’re going to see Right now you can’t get any higher It’s 32:16 at 145 So we know it’s coming down Uh I think we’re going to have a very good relationship You know I always got along 32:23 very well with President Xi Uh that relationship was greatly disturbed by CO 32:28 when CO came in Uh but we get along very well now I mean we had a I mean the 32:34 relationship was hurt with a lot of people a lot of countries when CO came in But uh I think we’re going to have a 32:39 very good relationship I I expect to have a very good relationship with China Scott I think uh it’s a very friendly 32:46 meeting They look forward to uh doing it in an elegant way Uh China as you know 32:52 has a tremendous trade surplus with us and we can’t you know we just can’t have that and but I think it’s going to I 32:59 think it’s going to be very good for both countries I would like to see China opened You know one of the big things 33:04 here is and nobody would know this but the UK was largely closed it was very much closed to trade and now it’s opened 33:12 and a lot of the financial reporters are very happy about that because that so much I I listen to them I hope they get 33:19 countries opened up and then you compete in a fair basis but you can’t compete when you’re not allowed to to go there 33:26 China would be the number one example of that you know it’s very closed we almost had it last time before co and that 33:33 didn’t work out but we made a great deal with China they had to buy $50 billion worth of our food products and it was a 33:40 great deal doing very well for our farmers and then when Biden came in as usual nothing happened you know he didn’t enforce it and it got less less 33:47 less and ultimately you know destroyed a great deal that was a great deal but uh 33:53 no I think that we’re going to have a I think we’re going to have a good weekend with China I think they have a lot to 33:58 gain I do think they have far more to gain than we do in a sense but uh we’re 34:03 going to have a good I think we’re going to have a very very good weekend you speak to after the weekend talks I might 34:08 Yeah sure Depending on what Scott says We sort of uh Scott is doing certain 34:14 countries and Howard’s doing certain countries I mean I wish I had like 10 more of each if we then we could do them 34:21 all at one time but there will be a time we’ll do we’ll do a number of them and then there’ll be a time I think I can 34:27 say this Scott and Howard where we’re just going to say because we understand the countries we understand what they 34:33 want uh where we’re just going to make the deal In other words we don’t need the country involvement because we’ve 34:39 already had it and we’ll say uh this particular country which had big surpluses let’s say we had therefore 34:46 deficits that this particular country is going to pay a 25% tariff or 30% or a 34:51 50% or 10% or what whatever it may be Uh this was I think we should explain it 34:57 now One of the things we did here that we’ll rarely do is on cars We took it 35:03 from 25 to 10 on Rolls-Royce because Rolls-Royce is not going to be built here Uh I wouldn’t even ask them to do 35:11 that You know it’s a very special car and it’s a very limited number too It’s not you know one of the one of the 35:17 monster car companies that makes millions of cars They make a very small number of cars that are super luxury and 35:23 that includes Bentley and Jaguar Uh so we have a some very special cars So in 35:29 order to help that industry and that’s uh really you know handmade stuff 35:34 they’ve been doing it for a long time in the same location Uh and I said yeah 35:40 that would be let’s help them out with that one But that’s different than a car company that uh comes out and makes 35:45 millions of cars which they’ll be doing in our country They’re going to build uh we have many many uh factories car 35:52 plants being built or going to be built very soon I think we can say that we’ll 35:58 be close to 10 trillion dollars of investment I think we’re actually at 36:04 that number now If you if you add up some of the ones we haven’t heard about yet I mean we have some going up right 36:09 now They have plants going up and they haven’t even spoken to us They’re doing it because of the tariffs And tariffs 36:15 have always been used against us And I never understood I used to sit back As you know China paid hundreds of billions 36:22 of dollars in tariffs when I was president But until then uh China never paid anything And you know they really 36:28 did a big number on us from the standpoint of trade But we are using 36:34 tariffs now for our benefit And uh we have now close to 10 trillion dollars 36:41 Think of that 10 trillion If you look at the past administration uh and we’re talking about over you know essentially 36:47 two months because we could say three but it took a little while to get the office in perfect shape right it took a 36:53 little while to uh get things done but once we started when you think of that close to 10 trillion dollars of 37:00 investment You’ve had years where the United States wouldn’t do that in a whole wouldn’t do one trillion in a year 37:06 wouldn’t do anywhere near one trillion We did 10 trillion in two months So it’s 37:11 it’s amazing what’s happening We’re getting calls from and that has to do with chips Has to do with cars Uh we 37:18 used to make chips We had Intel and we used to make chips We had a monopoly on chips Everything was made here And now 37:24 over a period of years because of presidents that didn’t know what they were doing They allowed that business to be stolen from us Most of it moved to 37:31 Taiwan And you probably were in the same position right because you had a lot of the chipmaking capacity but they moved 37:37 it in And if we would have said “That’s fine If you want to move it to Taiwan that’s good But if you want to sell back 37:43 into the United States we’re going to put a 50% or 100% tariff on.” They would have never left But we had people 37:50 sitting here that didn’t understand that And uh it’s too bad But now they’re coming back because I’m saying it I’m 37:56 saying it about 40 years too late But they’re coming back As you know we have the biggest chip makers in the world 38:01 spending in one case 300 billion in one case 500 billion same as Apple and in 38:08 another case 200 billion and we’re going to have a large share very very substantial share of the chipmunk 38:17 market this weekend it’s going to be a friendly visit but do you expect that it will just be a formality to break the 38:24 ice or are they going to get into substantive negotiations i believe so Yes I believe it’s substantive Yes Uh I 38:30 I think people like to say yes We’re having a meeting to meet Well we’re meeting So what are we going to do talk about meeting 38:36 again So I think it’s going to be substantive I think we can say that right Scott uh very substantive Now 38:43 China wants to do something and look they have to at this point you know essentially uh they made a trillion 38:51 dollars a year and now they have absolutely you know no business because of the tariffs They have no business and 38:58 they want to have business and we want them to have business We want them to do well We want them to do very well So uh 39:04 I think it’s going to be very substantive because business has slowed 39:09 down as you mentioned We’re seeing in China but we’re seeing as a result the ports here in the US the traffic has 39:16 really slowed and now thousands of dock workers and truck drivers are worried about their jobs Yeah know we lose that 39:22 means we lose less money You know when I see that that means we lose less money Look China was making over a trillion 39:29 1.1 trillion in my opinion You know different numbers from 500 billion to a trillion or trillion one I think it was 39:35 1.1 trillion And frankly if we didn’t do business we would have been better off Okay you understand that So when you say 39:42 it slowed down that’s that’s a good thing not a bad thing But we’re going to make it so they can I’d like to say they 39:48 can do better actually in terms of the bottom line Uh we’d like to see China opened up so we can compete in China and 39:56 you know give people something that they’ve never had You know access to something that would be great for the 40:01 world It would be great for our businesses and I think it would be great for friendship I I really expect a lot of people think I’m a militant guy I’m 40:08 really not I think that uh trade can bring a greater friendship with China 40:13 Can be something good But you know one of the things that I know Scott’s going to be talking about very high on the list is open up and let our businesses 40:21 go into China because when you talk about a closed country that’s a really closed country and I think it would be 40:28 great if it was opened up give people a lot of choice and uh would create a lot 40:33 of jobs a lot of everything So I think it would be a great thing for China and that’s going to be one of the things we’ll be discussing like we discussed 40:38 with UK please What what does Britain have to 40:45 do for you to drop the baseline 10% tariff that you already Well I think that’s set because uh that has to do 40:52 with a lot of different things including past you know there are a lot of past things that we tal we this is very 40:58 inclusive We included everything uh and that’s pretty well said Yeah please Yeah Mr President uh the 10% baseline tariff 41:05 remaining in place Is that a template for these future trade deals you say you’re going to keep it here Is it going to stay in every case no that’s a low 41:11 number uh they they made a good deal many some will be much higher because they have massive trade surpluses and 41:19 you know in many cases they didn’t treat us right one thing with UK uh they had 41:24 you know somewhat close not like a China as an example but but they always treated us with great respect they 41:31 treated us with great respect uh the the template of 10 will is is probably the 41:39 lowest uh and and therefore they you know made that deal and but they uh you 41:47 know we’ve had just a very special relationship with them Like I won’t do that deal with cars I mean unless somebody shows me that there’s another 41:53 kind of a car that’s comparable to a Rolls-Royce and there aren’t too many There’s a good commercial for Rolls-Royce but they’re going to order a 42:00 lot of Mr President I wonder whether you’d like to buy 42:05 I mean well the last time this happened I ended up I I would be happy to suggest a discount Obviously a very modest 42:12 discount We have to protect our profit margins but I’ve had many of them actually 42:18 You know the last time that happened I ended up buying a Tesla You know 42:26 Mary with Daily Wire I had a question about the UK deal today Okay I heard there was talk that part of the 42:32 agreement would depend on whether the UK would respect free speech and freedom of religion I know the BP is really 42:38 interested in that Talked about that earlier this year Was there any asurances that you guys got on that front you want to handle that yeah that 42:45 that was not part of the conversation Our conversation was an economic conversation from start to finish Closed 42:52 by the president yesterday This was a business deal open their markets and 42:58 also protect their workers grow our markets and help our work This is about 43:03 business religion You know business is sort of a semi religion but not nearly 43:09 as important I don’t want to get 43:14 myself in the back Mr President um will you be asking China to help you close 43:20 you know the gap between Ukraine and Russia i think so Yeah I think it’s a natural thing to ask What do you expect 43:26 sure I don’t know I think we’re we’re making good progress The fighting is a little bit different than it was I think 43:32 if we weren’t involved Russia would be you know going at it to maybe get the 43:38 whole thing Without our involvement they’d be able to get it because we supplied a lot of lot of different 43:44 things foolishly But we’ve been sort of paid back by doing the rare earth deal that I talked about before I think that 43:51 uh No I think that we will be very much involved in trying to get that blood bath It’s a blood bath It’s a horrible 43:57 situation 5,000 It’s really more than that Uh but it’s 5,000 soldiers on 44:03 average a week Mostly soldiers are being killed Young beautiful people I mean 44:08 they’re being killed I see the the satellite pictures coming back Body parts lying all over fields heads and 44:14 arms It’s so terrible I’ve never seen anything like it actually And if we can get that stopped that will be a great 44:20 accomplishment And we’re trying very hard and I think we’re close And Mr Whit is uh talking constantly back and forth 44:26 He’s a real professional who’s got a great relationship with both countries and I think we have a good chance And 44:33 likewise we’re trying to work on Iran to get that solved without having to get into any any uh bombing as we say big 44:42 bombing I don’t want to do that I want them to work a deal I want them to be very successful 44:48 Mr President thank you Mr President Edward Lawrence from Fox Business on the non-market barriers How did you get the 44:54 UK to bend and what was the 11th hour deal or ask well I think it was really 44:59 just a part of the overall I mean they have so many things that are so good for them it’s going to be so good for the country And that was sort of easy It 45:05 wasn’t it was we had non-market I call it non-market or non-monetary trade 45:11 barriers And we had quite a few of them Not nearly as bad as some countries Some countries have you know they have 45:17 virtually no tariff but the rest of it is so brutal you can’t do business with them right so it’s a very important question actually uh no I think the 45:24 overall uh the overall deal just worked out very well from their standpoint they they were willing to give that in order 45:31 to get other things and uh you might want to speak to that Mr Look the point about the deal is that we 45:39 will continue reducing tariffs and non-tariff barriers 45:46 This is this is a continuing picture It’s a movie It’s not a still picture here It’s a movie It 45:52 continues And we’re both committed uh to freeing up trade between our countries 45:58 We’re both committed to freeing up investment uh between our uh countries 46:03 Uh and the the point about this deal is that it provides a very good template 46:10 and a very good launch pad uh for what we can continue to do and build on in 46:15 the future And that’s what we’re both determined to do You know many of many of the well 46:24 say many of the tweet many of the we’ll keep it confidential How about just one 46:30 more little thing right it it well it got the deal closed and it was handled very well from the other side too But uh 46:36 many of these things that we’re talking about we’ve been talking about this for 25 years It’s it’s hard to explain when 46:45 uh if you weren’t sitting behind this beautiful Resolute desk you just wouldn’t get it I have been hearing 46:51 about making a deal with UK for 25 years 46:56 and especially around the time of Brexit They wanted to make a deal So they came out of Brexit and they make a deal and 47:02 it held natural and it just couldn’t be done It couldn’t be done Good people And 47:08 this is a bigger deal This is a much bigger better stronger deal for both of us than we ever even contemplated before 47:15 It’s a big deal Virtually everyone said that it would end in failure It would end in tears and it’s ended in exactly 47:22 the opposite But Mr President can I say that that is due to Secretary Lutnik and 47:28 Ambassador Grio have been absolutely fantastic But yesterday I received a call a very diplomatic call that just 47:36 edge things over the line and that was from your new ambassador in the United 47:42 Kingdom who is terrific by Warren Stevens He’s here Where is Warren hello Warren He he’s flying to London tomorrow 47:50 night Uh he’s going to be very popular with the British people He’s going to be a very successful ambassador 47:59 [Music] And were you disappointed and he’s got plenty of cash 48:06 That guy’s plenty of cash We need We need some more We need 48:11 some more big spenders Are you planning to You’re going to go ahead fast Yes Are 48:18 you planning to meet the lion the president of the Ukraine council anytime soon oh she’s so fantastic right she’s 48:25 so fantastic I hope we’re going to meet Yeah the answer is yes I saw her actually I saw her a few days ago How 48:31 much and I I think that uh we’ll definitely meet Yeah The European Union is big thing They want to make a deal 48:38 very badly You know everybody wants to make a deal Look everybody wants to make a deal with the United States and we’re doing that and we’re making we’re going 48:44 to make fair deals I’m just honored that this was the first one Uh go ahead please The reserve 48:49 chairman Federal Reserve Chairman Mr President says that you would have to call him for a meeting Do you plan to 48:55 meet on with him what do you think about him it’s like talking to a wall He should he should be What do you think 49:00 about not cutting the Bank of England cut today well the Bank of England cut China cut everybody’s cutting but him 49:08 Uh it’s uh you know I don’t know Let’s we’ll see what happens It’s a shame I 49:13 call him too late you know too late Powell That’s his nickname And it’s a shame It’s ridiculous So meeting he uh 49:21 he’s always too late but in this case it’s not going to matter that much 49:27 because our country is so strong was so powerful in terms of economic strength 49:32 and what we’ve done and and I’ll tell you what if we didn’t have our first term you wouldn’t be we created things 49:37 in the first term we cut more regulations than any president in history we cut the taxes more than 49:43 anybody in history and a very big factor is going to be the tax bill that we have right now the one big beautiful bill as 49:49 we call it which is all-encompassing the biggest tax cuts ever in history bigger 49:54 than even the first time and the incentives uh even great for the UK because it’ll make us so strong that 50:00 we’re going to be doing more business with you it’s a very important element uh for taxes for every aspect regulation 50:07 cuts uh that bill is I I believe it’s the biggest bill of its kind ever in the 50:14 history of this country and Speaker Johnson and and uh leader Thun have done 50:19 an incredible job I mean I’ll let you know we have to get a vote but we have we have a lot of support for that bill 50:26 And if that happens on top of all of these uh trade deals that we’re doing 50:32 this country will hit a point that uh you better go out and buy stock now Let 50:38 me tell you this this country will will be like a rocket ship that goes straight up This is going to be numbers that 50:44 nobody’s ever seen before Uh that’s a very important element of all of this You know if we get that if you don’t and 50:50 and the Democrats are fighting it only because they want to fight They have Trump derangement syndrome You know if it was somebody else they wouldn’t fight 50:57 If you had a normal person you had some stiff sitting behind you they’d be fine But uh but they have Trump derangement 51:04 syndrome You know Senator Schumer’s become a Palestinian He’s welcome I I 51:09 don’t know when they’re going to give him the ceremony whatever the ceremony may be It’s terrible what’s happened to 51:16 the Democrats So uh very very important element of of everything of what we’re 51:21 doing Uh unrelated to today but related in the sense that we’ll do if that 51:26 passes we’ll do even more business with the UK We’ll have so much uh it’s the biggest tax cut in history It’s going to 51:34 make our country zoom It’s going to be incentive as you know with the uh deduction for basically for work you 51:41 work your bill your plant etc your deduction uh it’s going to be the biggest uh it’s the biggest bill of its 51:47 kind ever passed Maybe the biggest bill ever passed That’s why we call it the one big beautiful bill 51:54 You just announced a new nominee for the US surgeon general who never finished her residency and is not a practicing 52:01 physician So can you explain why you picked her Yeah because Bobby thought she was fantastic She’s highly uh she’s 52:09 a brilliant woman who went through um Stanford and as I understand it she basically wanted to do she wanted to be 52:15 an academic as opposed to a surgeon Uh I think she graduated first in her class at at Stanford And uh Bobby really 52:24 thought she was great I don’t know her I I listened to the recommendation of Bobby I met her yesterday and once 52:29 before She’s a very outstanding person a great academic actually So I think she’ll be great 52:37 Your nominee for US Attorney of DC Do you have a backup plan if this Senate 52:42 but he’s a terrific person and uh he wasn’t getting the support from people 52:48 that I thought you know he’s done a very good job Crime is down 25% in DC during 52:53 his period of time I’m very disappointed in that But I have so many different things that I’m doing now with the trade 53:01 You know I’m one person I can only make boom I can only lift that little phone so many times in a day But uh we have uh 53:09 somebody else that will be great I just want to say Ed is unbelievable and uh hopefully we can bring him into whether 53:17 it’s DOJ or whatever in some capacity because really outstanding It was to me it was disappointing I’ll be honest I 53:23 have to be straight I was disappointed A lot of people were disappointed but that’s the way it works sometimes you 53:29 know That’s the way it works and he wasn’t rejected but we felt it would be very it would be hard And uh we have 53:36 somebody else that we’ll be announcing over the next two days who’s who’s going to be great Companies like Ford and 53:42 Mattel with companies like Ford and Mattel recently saying they’re going to raise prices on certain products How 53:47 long do you think the American public is going to be patient well I don’t think I think they’re saying that just to try 53:52 and negotiate deals with me They’re not Look tariffs is are the most 53:58 misunderstood thing maybe in any form of business anywhere in business Often 54:03 times the country picks them up Often times the company picks it up The people don’t pick it up Okay the people don’t 54:09 pick it up And if Ford did that they wouldn’t sell any cars And if uh Mattel I don’t know some I’m not so sure they 54:16 they also said they they’re the only country I’ve heard they said “Well we’re going to go counter We’re going to try going someplace else.” That’s okay let 54:22 him go and he’ll have we’ll put a 100% tariff on his toys and he won’t sell one toy in the United States and that’s 54:28 their biggest market I heard that I mean I watched this guy talking about how I’m going to go counter I said “Well I 54:34 wouldn’t want to have him as an executive too long.” Uh the Ford people I know very well What they’re doing is 54:40 negotiating with us by saying that Uh but we don’t think that’s going to happen And look I put out a truth today 54:46 and it said that gas is down gasoline is down energy is down uh groceries are 54:53 down eggs are down I mean eggs thank you very much but eggs are down When I came 54:58 in the first week you guys hit me with eggs I said “What the hell happened with eggs?” Eggs were up like 170% and going 55:06 up And they said “Don’t order any for Easter.” And we were thinking about ordering plastic eggs like everybody was 55:12 doing And uh Brooke did a fantastic job Agriculture Brooke did a fantastic job 55:17 and we had hundreds of thousands of eggs out here on the lawn just two weeks ago 55:22 at Easter and but you take a look at the cost Energy is down uh even interest 55:28 rates are down Now if the chairman of the Fed Jerome if he 55:36 would uh lower interest rates like China did like I think UK did but like 55:41 numerous other countries have done it would be it’s like jet fuel it would be great but he doesn’t want to do it I I 55:47 think he doesn’t want to do it Probably he’s not he’s not in love with me I think that’s right It’s sort of a crazy 55:53 reason but that’s the way life is uh anybody in his position would be learn it would be like jet fuel but even 56:01 without that we’re doing well but remember this you know I’ve watched you people reporting over the last few 56:06 months that if we do this uh you know prices are going to go through well uh 56:12 groceries are down all of this stuff is down uh lumber is down oil is is gone I 56:19 mean we have that thing broke 60 right $60 a barrel 98 a$1.98 a $1.99 in some 56:26 cases Uh and heading and heading in that direction Uh no I I think it’s been 56:33 amazing actually you know and what that’s good for it gives the consumer more money and it gives them a better 56:39 life because we we just came out of the worst inflation in my opinion in the history of our country They say 48 years 56:44 but Biden really screwed it up He screwed up energy and he also paid he spent too much money He was spending it 56:50 on you know the green new scam and that’s like throwing the money You see that beautiful window behind take money 56:55 throw it right out that window because it’s the same thing He just he spent he 57:00 spent he spent $10 trillion He wasted it Not only was it bad it was it was a negative It wasn’t even like it helped a 57:08 little bit It was a real negative And then on top of it they let 21 million people into our country without any 57:14 identification any anything Just let them in It’s very very sad Well we’ll do one or two more 57:25 guest if I may Go ahead Who are you with i’m with the Daily Telegraph You know me from I do Um uh how concerned are you 57:33 about um the UK’s reliance on China Chinese money in the money market um 57:39 Chinese exports we’re not concerned Is that something honestly I’m not concerned about anything If I was I 57:45 wouldn’t even be here right now If I was concerned about anything and it wouldn’t be that but I wouldn’t be here right now 57:51 No we’re not concerned We’re gonna have I believe a very good relationship with China and a fair relationship and it’ll 57:58 get bigger and it’ll grow It’ll grow As an example if they open up the country that’ll be the best thing China ever did 58:04 for itself They don’t know that yet because you know it’s it’s been a different system but that’ll be the 58:10 greatest thing that ever happened to China The people will be happier They’ll buy for less uh they’ll see things that 58:16 they never sold before and they’ll be buying them and it’ll it’ll really create great long-term peace And if I 58:24 could ask one of the agriculture secretary actually there’s not a concern about chlorinated chicken and the import of corn treated beef Has that question 58:30 been addressed resolved in these talks or is that something for the continuing negotiations well you know Jamus I I I 58:37 would just say that it’s it’s very clear and we have in the heads of terms that we are going to discuss all these types 58:43 of issues and obviously the importing country whether it’s us or them you got to follow the rules on those types of 58:48 things But our point is the rules need to make sure that they are based on science and that’s our expectation We 58:53 know the UK believes that too So we want to come to an accommodation We want the consumers in each country to be able to 58:59 choose what they want and give them the information that they need We have an incredible EPA led by administrator 59:04 Zelden that is on this So the talks continue but we are very very confident in our products and what the president 59:11 is doing to open up the markets is unprecedented for these farmers here in America Thank 59:17 you Wall Street as they watched this You saw the stock market declined sharply after liberation day and it’s rally back 59:24 since then Well now it’s going to really rally because you know don’t forget they said this is all a pipe dream And this 59:30 was a tough one This is somebody would say “Well this is easy.” This is much tougher I think than any other deal 59:35 Because they’ve been at it for so many years decades trying to make this deal and it’s very conclusive and it’s a 59:42 great deal and it’s a very big deal actually No this is just the beginning We’re going to be having uh conferences 59:47 or or at some point we won’t have we just put out a statement that uh we just signed this country that country and 59:54 after a number of these are done nobody has enough people to do it We’re just going to put out uh X country is going 1:00:01 to pay this and if they open up they’re going to do this and that and that and they’re going to be open up Everybody wants to be here You know I say this is 1:00:08 where they want to be shopping They want to shop in this country because we have uh the consumer and we have the consumer 1:00:15 like nobody else and uh you know if you if this country went bad the whole world 1:00:20 would go bad But we really but we really saved it from going bad Yeah Please Can I ask you 1:00:26 about the air traffic control issue are you looking at getting new software i’m glad you asked me about it because I’m just going to be talking to now with the 1:00:33 heads of the airlines and everything else So I was all set before we had the rigged election to give out a brand new 1:00:40 gorgeous system to one company that was going to do our whole thing One of the best companies in the world that you 1:00:45 know very well You know there are three or four of them that do it And when they took over Budadge who has no clue you 1:00:53 know he drives to work on his bicycle with his with his in all fairness with his husband on the back which is a nice 1:00:58 loving relationship But uh he didn’t have a clue This guy didn’t have a clue 1:01:04 and he’s actually a contender for president between him and Crockett You can have that party But uh he didn’t 1:01:11 have he didn’t know what he was doing And he took uh what they call dry systems where you have wires in in the 1:01:18 earth buried in the earth or whatever Uh and then you had the open air systems where you have satellites and you can’t 1:01:25 mesh them Anybody would know that if you went through about two months of study in school if you studied that kind of 1:01:32 thing And he uh he did they spent tens of billions of dollars trying to take 1:01:39 old broken equipment and merging it into existing new equipment with brand new 1:01:47 equipment It’s one of the greatest they spent like 40 billion 40 billion dollars 1:01:53 and what they did is they made it worse because it doesn’t work together You can’t make it work together If you have 1:01:59 a satellite system you need need satellite If you don’t they had all these different technologies some of 1:02:05 them 50 years old and they’re trying to mesh them in and they end up spending twice the money they should have You 1:02:11 could have bought a whole new system So we have a very good guy who you all know Sean Duffy He’s head of transportation 1:02:18 and I’ve given him a 10-minute lesson in buying and he’s become really good And 1:02:24 we are now in the market to buy a gorgeous brand new system uh the helicopter that crashed into the plane 1:02:30 at 400 feet It shouldn’t have been What would have happened is all sorts of bells and sirens would have been going 1:02:36 off three minutes before that accident happened if you had the right equipment but they didn’t And uh the new equipment 1:02:43 is unbelievable what it does You can have you don’t even Well I was going to say something but you always in my 1:02:49 opinion you always need pilots I want pilots but you wouldn’t even have to have pilots This system is so incredible 1:02:55 what they can do But we have a system that’s obsolete and what they did is the worst They tried to combine the really 1:03:02 old broken stuff with the new stuff And you can’t combine it and anybody should have known So so Biden you think Biden 1:03:09 figured this out i don’t think so fellas Do you think he has any clue he doesn’t know what the hell’s happening So here’s 1:03:14 the story We’re going to be buying a brand new it’s going out to bid very soon Brand new state-of-the-art system 1:03:21 that will cover the entire world I’ll give you an example when my pilot now I have uh military pilots but prior to 1:03:28 that I have very good pilots great pilots they would land and I won’t tell you which country but they would use the 1:03:33 system of another country they wouldn’t even use the system of the United States so if I’m landing in New York or Florida 1:03:40 or Tennessee they’re using a system from another country it’s I said why is that 1:03:47 and they were you know they’re not into business but they’re just saying our system doesn’t work sir and I said boy 1:03:53 that’s pretty sad bad but we were all set to give it out to you know look you have a Rathon and you have different 1:03:59 companies like that numerous companies and you have companies that would do it like an IBM as an example but and you 1:04:06 give out one deal one contract They gave out hundreds of contractors They had 1:04:12 diggers they had non-diggers they had people that focus on satellites They had hundreds of different 1:04:18 contracts One contract where one guy is controlling everything If you need a trench then they dig a trench But if you 1:04:26 don’t dig the trench they don’t blame you What happens is you don’t dig it then they say “We want a cost overrun.” No we have it all set and we’re going to 1:04:33 be doing it We would have done it except that the election took a little strange turn Uh but the second one didn’t That 1:04:39 was too big to rig Thank you very much everybody 1:04:47 Thank you

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