US President Donald Trump said on April 3 that the market slide due to his decision to impose reciprocal tariffs was expected and the step was needed to heal the economy, which he called a sick patient.
Trump also said he was open to tariff negotiations.
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Trump also said he was open to tariff negotiations.
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NewsTranscript
00:00A company to run, or a number of companies to run.
00:03That he can do this, that he can find the time.
00:05He loves the country, that's why he does it.
00:09China, first row. China, 67%. That's tariffs?
00:15China.
00:28First, we'd love to get your reaction, sir, to what's going on in the financial markets today.
00:34Well, I mean, it's to be expected.
00:36This is a patient that was very sick.
00:40We inherited, we really inherited a terrible economy, as you know.
00:44With a lot of problems, including loss of manufacturing and plants closed up all over the country.
00:51You know, we've lost 90,000 plants since NAFTA, if you think of that.
00:5790,000, it's not even believable.
01:00And about 6 million jobs.
01:02And so it's a sick, it was a sick patient that went through an operation on Liberation Day.
01:09And it's going to be a booming country.
01:13A very booming country. It's going to be amazing, actually.
01:16And we see it because we have trillions of dollars committed to come in.
01:21Trillions.
01:22And now we let it settle in.
01:26You see the plants are starting to get construction already.
01:29We have many plants.
01:31Indiana, massive auto plant.
01:35Honda.
01:36We have so many plants and they'll be under construction.
01:40And as they start to build, you're going to see a lot of construction jobs.
01:43And you're going to see a lot of jobs when they open.
01:46Well, let's say it's a two-year process.
01:48You know, they start a plant and they're big plants.
01:50We're giving them approval to also, in many cases, to build the electric facility with it.
01:55So you have electric generation and the plant.
01:58And they're big plants.
02:00Now, the good news is there's a lot of money for them and they can build them fast.
02:03But they're still very big plants.
02:05So I'd always say it would take a year and a half to two years.
02:09The chips are starting very soon.
02:13The pharma is going to be starting to come in, I think, at a level that you haven't really seen before.
02:22We are looking at pharma right now, pharmaceuticals.
02:26It's a separate category.
02:28And we'll be announcing that sometime in the near future, not too distant future.
02:32That's under review right now.
02:34Are you into deals with these countries if they're calling you?
02:37Well, it depends.
02:38If somebody said that we're going to give you something that's so phenomenal, as long as they're giving us something that's good.
02:43For instance, with TikTok as an example.
02:46We have a situation with TikTok where China will probably say we'll approve a deal.
02:55But will you do something on the tariffs?
02:58The tariffs give us great power to negotiate.
03:01I always have.
03:02I've used them very well in the first administration, as you saw.
03:05But now we're taking it to a whole new level because it's a worldwide situation.
03:11You said that the Chinese might be willing to agree to approve that sale in exchange for tariff relief.
03:17Is that something that you've floated to them or you've heard from them?
03:20No, no.
03:21I'm just using that as an example.
03:23Let's say we had a problem with TikTok and let's say China wasn't going to approve.
03:29You could use tariffs in order to get it approved.
03:32You could have something in return.