President Trump holds a press briefing in the Oval Office to announce a U.S.-U.K. trade deal and takes questions from reporters.
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00:00The President is ready to go.
00:01You all set to go?
00:02This is —
00:03The President is ready when you are.
00:04The President is ready.
00:05Okay.
00:06We're ready.
00:07We have the prime minister on the phone, and we have a nice hookup.
00:10This looks like the kind of a hookup that's not going to be causing any problems.
00:14And your voice comes through beautifully here.
00:16So, I just want to —
00:17The President is good.
00:18The President is, you sound great.
00:21I just want to begin by saying that this is a very special day because it's Victory
00:27Day, World War II, May 8th.
00:30just by happenstance.
00:32We have the Prime Minister on the phone,
00:34and we were great allies in that.
00:37And it's very unusual that the trade deal comes due,
00:40and we signed it up on the same day
00:43that we had a great victory, the greatest victory of them all.
00:45So we are talking more and more about Victory Day
00:50because we were a big part of it, and so was the UK.
00:54And it's just, I guess, I don't know what you call it.
00:59It's just incredible that that day is the same day
01:02that we signed a tremendous trade deal for both countries.
01:06So I'm going to begin by just adding
01:09that we just concluded the rare-earth deal with Ukraine.
01:13That's been fully ratified and approved
01:15by their legislative branches, and so we appreciate that.
01:19And I'll be speaking with the President in a little while,
01:23a little bit later, and we appreciate that.
01:26But the deal is all now signed up and ratified,
01:29and we have access to a massive amount of very,
01:32very high-quality rare-earth.
01:36This morning, I'm thrilled to announce
01:38that we have reached a breakthrough trade deal
01:40with the United Kingdom, an incredible country.
01:44Today is a victory day for World War II.
01:48We won the war together exactly 80 years ago,
01:51so there could be no more perfect morning
01:54to reach this historic agreement.
01:55And it's beautiful weather out, I will tell you that,
01:57Keir, beautiful weather.
01:59It's so perfect outside.
02:01But it's really, in particular,
02:03the agreement with one of our closest
02:06and most cherished allies.
02:09And we're so happy that that's the way it worked out.
02:13I want to thank Prime Minister Starmer
02:15and his very talented team for their outstanding work
02:19and partnership.
02:20Today's agreement with the U.K.
02:23is the first in a series of agreements on trade
02:25that my administration has been negotiating
02:27over the past four weeks.
02:30With this deal, the U.K. joins the United States
02:32in affirming that reciprocity and fairness
02:36is an essential and vital principle
02:38of international trade.
02:41The deal includes billions of dollars
02:43of increased market access for American exports,
02:47especially in agriculture,
02:48dramatically increasing access for American beef,
02:52ethanol, and virtually all of the products
02:56produced by our great farmers.
02:58And our secretary, as you know,
03:00of agriculture is here, Brooke.
03:02Thank you very much for being here.
03:03Brooke Anderson- Thank you, sir.
03:04The President- You'll let the farmers know.
03:07In addition, the U.K. will reduce
03:09or eliminate numerous non-tariff barriers
03:12that unfairly discriminated against American products.
03:16But this is now turning out, I think,
03:17really to be a great deal for both countries
03:19because it'll be really great for the U.K. also.
03:22So, they're opening up the country.
03:25Their country is a little closed,
03:27and we appreciate that.
03:30They'll also be fast-tracking American goods
03:32through their customs process,
03:34so our exports go to a very, very quick form of approval.
03:39And there won't be any red tape.
03:42Things are going to move very quickly both ways.
03:44The final details are being written up.
03:46In the coming weeks, we'll have it all very conclusive,
03:50but the actual deal is a very conclusive one.
03:52We think just about everything has been approved.
03:57So good for both countries.
03:58And we'll also receive new market access
04:00for American chemicals, machinery,
04:02and many other industrial products
04:05that weren't allowed.
04:07And they'll end up getting products
04:08that they'll be able to price.
04:09And if they like them better,
04:11and we make great products,
04:12they'll be buying those products.
04:14But they were not available in the U.K.
04:17Furthermore, in a historic step,
04:19the deal includes plans
04:20that will bring the United Kingdom
04:22into the economic security alignment
04:24with the United States.
04:26That's the first of its kind.
04:28So, we have a big economic security blanket,
04:31and that's very important.
04:33And we feel very, very comfortable with that,
04:35because it's been a great ally,
04:37truly one of our great allies.
04:38I mean, a lot of people say our greatest ally.
04:41I don't want to insult people by saying that,
04:43but I can say it's certainly one of our greatest.
04:46And they're right at the top.
04:47And they're the first one we're talking about.
04:49And by the way, we have many meetings planned today
04:53and tomorrow, and every country wants to be making deals.
04:58And we have a meeting, as you know,
05:00Scott will be going over to Switzerland on Saturday.
05:03And that'll be very, very interesting.
05:05Let's find out.
05:06I think they want to make a deal very badly, too.
05:09Both countries have agreed that the economic security
05:12is national security,
05:13and we'll be working together as allies
05:15to ensure that we have a strong industrial base,
05:17appropriate export controls and protections
05:20for key technologies in industries like steel.
05:23Steel is a big factor.
05:25Both countries will become stronger with steel
05:28and things necessary for military.
05:29You know, we used to build ships and other things,
05:33literally at a level that nobody has ever seen.
05:35And we haven't — we've eased up.
05:38And I would say that the U.K. certainly eased up.
05:40But now we're going to be uneasing both,
05:42and we work together.
05:43Once again, I want to thank Prime Minister Starmer.
05:46He's been terrific for his partnership in this matter,
05:48the special relationship and external bond.
05:52It's really an external and an internal bond
05:54between our two countries.
05:56We'll soon be stronger than ever before.
05:58And we really do.
05:59We have a great relationship.
06:00I want to just say that the representatives of U.K.
06:04have been so professional.
06:06And it's been an honor doing business with all of them,
06:09and in particular, the Prime Minister.
06:11And I'd like to introduce him now to say a few words.
06:14Mr. Prime Minister, please take it away.
06:17Prime Minister Starmer Thank you, Mr. President Donald.
06:21And this is a really fantastic historic day
06:26in which we can announce this deal
06:28between our two great countries.
06:30And I think it's a real tribute to the history
06:35that we have of working so closely together.
06:37Can I pay tribute, Donald, to your negotiating team as well,
06:40particularly Howard and Jameson, who've done an incredible job,
06:44a very professional job, and my team as well.
06:48Two negotiating teams have worked at PACE now.
06:51for a number of weeks to bring in this deal today.
06:56Really important deal.
06:57This is going to boost trade between and across our countries.
07:01It's going to not only protect jobs,
07:03but create jobs, opening market access.
07:07And as you say, Donald, the timing couldn't be more apt
07:11because not only was it 80 years ago today
07:15that victory came for Europe after and at the end of the Second World War.
07:24But of course, on that day, the UK and the US stood together
07:28as the closest of allies.
07:30And, Donald, I think, even down to the hour,
07:34because you may or may not know that it was about this time of day,
07:38exactly 80 years ago that Winston Churchill announced victory in Europe.
07:46And that led to great celebrations across Europe, across America,
07:51but particularly in the United Kingdom.
07:54Literally people going out into the street, putting bunting up,
07:58going up to the palace and so to be able to announce this great deal
08:04on the same day, 80 years forward, almost at the same hour.
08:11And as we were 80 years ago, with the UK and the US standing side by side,
08:17I think is incredibly important and makes this truly historic.
08:23That close relationship has endured over those 80 years.
08:26As you know, Donald, when it comes to defence and security
08:30and intelligence sharing, of course,
08:32there are no two countries that are closer than our two countries.
08:35And now we take this into new and important territory
08:39by adding trade and the economy to the closeness of our relationship.
08:44It is built, as you say, on those notions of fairness
08:49and reciprocal arrangements.
08:51We've always had a fair and balanced arrangement between our countries.
08:54This builds on that.
08:56Hugely important for sectors like car manufacturing
09:00and for steel and aluminium and so many others.
09:04And yes, we can finish hanging out some of the details,
09:08but there's a fantastic platform here, including, of course, on the tech side,
09:12where I think I'm right in saying we're the only two Western countries
09:16with trillion dollar sectors when it comes to tech.
09:19And in the end, it comes down to, as you say, Donald, economic security is national security.
09:27On national security, we've been absolutely the closest of allies for so many years,
09:32keeping the peace through that close alliance, that friendship.
09:36And now we add to that, this deal on trade and the economy.
09:42And I want to thank you for your leadership on that, Donald, and for the way in which your team have negotiated this.
09:50And I'm so pleased that we've got this deal, we've finalised it, and we've built an incredible platform for the future.
10:00So thank you so much, Donald.
10:02I'm now going to go and do a press conference.
10:05I think you have your press in with you.
10:08But on the details, I think if you've got Howard,
10:12we can deal with that through one of my team.
10:16That's great.
10:17Well, Mr. Prime Minister, thank you very much.
10:19It's an honour.
10:20We're going to have a continued, maybe a better relationship than ever before.
10:24You know, I don't know if the media knows, but the U.S. and U.K. have been working for years to try and make a deal.
10:32And it never quite got there.
10:34But it did with this Prime Minister.
10:36So I want to just congratulate you.
10:38Well, with this President, this Prime Minister, we've managed to achieve what many people have tried to achieve for many years.
10:44And I'm really pleased.
10:46And it feels completely historic and on a special 80-year anniversary as well.
10:52So, Donald, thank you so much.
10:54It's really good to have got this deal over the line.
10:57Tribute to both teams.
10:59Tribute to our countries.
11:01And tribute to your leadership.
11:02The President, thank you.
11:02Well, it really is a great thing.
11:04And you go do your press conference and I'll see you soon.
11:06Maybe speak to you later.
11:08But thank you very much.
11:10Yeah.
11:10An incredible thing.
11:11I can't tell you that for so many years, even as I sat, everybody talked and talked and talked about a deal with.
11:17It just seemed like a natural deal, but it was not done.
11:21But now it was done with us.
11:22So I feel very proud to have been a part of it.
11:25Kier, thank you very much.
11:26Thanks, Donald.
11:28And we'll speak again soon.
11:30Very good.
11:30So long.
11:31Bye.
11:31The President, why don't I do this?
11:42Why don't I have our Secretary of Commerce, Howard Lutnick, give a little description of the deal pretty quick.
11:48And then the good side, the very nice side, we'll be speaking about it also, maybe, so you get pretty equal.
11:58I think it's a very — it's just been a deal that was, we thought, very complicated.
12:03It became very simple.
12:04It's opening up the country that we really didn't have the kind of access to that I would have thought.
12:08I was surprised.
12:09I think it's why the deal never got done before.
12:11It was — you know, they've been working on this deal for 25 years, and if we got it done and we got it done, really, it's going to be great for both countries.
12:19So, Howard, if you could go, and then somebody else, you may have — you'll pick whoever you want, who'd like to do it.
12:27I have a feeling you're going to do it, right?
12:29So, you guys go ahead, and then we'll take questions right after that, but I think you'll get a pretty good understanding of how big it is.
12:35It's a very large deal, a very big deal, and Howard, go ahead.
12:40So, the U.K. is the sixth largest economy in the world, and the fourth largest that we export to, right?
12:49So, it's a huge market, a top 10 market.
12:52If you remember Liberation Day, they were at 10 percent, because we have balanced trade with the U.K., right?
13:00They say they have a surplus, but, of course, that counts gold bullion, which is — so, let's just go ahead.
13:05Let's call it balanced trade.
13:06So, how do you open up a market in balanced trade?
13:09People think it's impossible.
13:10They've always thought it was impossible until President Trump came on the scene and changed the way things work.
13:17So, here's what we've got.
13:18We've opened up new market access — ethanol, beef, machinery, all the agricultural products.
13:26They've agreed to open their markets, and that will add $5 billion of opportunity to American exporters.
13:34So, the question is, why would they do that now?
13:37Because they've never done it before, and we still have a 10 percent tariff on, which will produce $6 billion of revenue for the United States.
13:45So, the idea was, how do they keep their jobs, protect their economy, and do the best for their people while opening the market for us?
13:54And the ways they studied it, their team was exceptional, and they tried to figure out the markets that they're importing from other people and try to send them over to America.
14:03So, why were they always favoring others and not us?
14:07And what they've done is they've found the ways to do that so that we have new access, right, but the UK workers are protected.
14:17And that was the balance.
14:18So, you've got — we did a deal with them in automobiles.
14:21And you know, if you're not building here, we charge you a 25 percent tariff.
14:26But the President — and by the way, I want to make this clear, while Jameson and I worked hard, this was the President's deal.
14:32And people think, oh, that's not the way it works.
14:34If you got to sit next to him, I have the best dealmaker to my left.
14:38And if you don't think that we take advantage of him calling the Prime Minister and getting that deal done, you don't understand who's the President of the United States.
14:47So, he's the closer. He gets deals done that we could never get done because he understands business. He understands deals.
14:55And that's why we're here today.
14:57So, he agreed they could send 100,000 cars into America and only pay a 10 percent tariff.
15:05And that protects their car industry.
15:07And remember, we do 16 million cars a year.
15:11So, this is only like 0.6 percent.
15:13But for the UK auto people, this is tens of thousands of jobs that the President agreed that he would protect for them.
15:22So, he made that deal, right?
15:24Then steel and aluminum, right?
15:26Their steel business has been destroyed like everybody else has been destroyed by people dumping steel into their markets.
15:33And British Steel had announced it was closing down.
15:36So, the British government, as part of this deal, nationalized British steel.
15:41And they're going to match the kinds of models we do.
15:44They'll put tariffs on.
15:45They'll put quotas on.
15:46They want to do it with America so they can be part of the resurgence of steel and aluminum in America.
15:53And that saves them, again, thousands and thousands of jobs.
15:57So, if you go step by step, aero and commercial planes, they sell Rolls-Royce engines to Boeing.
16:06We've agreed to let Rolls-Royce engines and those kind of plane parts to come over tariff-free.
16:12And what you're going to hear today is there's going to be an announcement in the UK that they are buying $10 billion worth of Boeing planes later today.
16:22But I'm going to let the name of the airline announce it because that's theirs to do.
16:26But part of this deal was always to do it together and to do it strong.
16:31And you can see the numbers on this board.
16:33Everything about this board works exceptionally well for the United States of America.
16:37It lays out the plan that you can work with us in autos.
16:41You can work with us with aero and commercial.
16:43You can work with us in pharmaceuticals if you have a supply chain that is secure and protected in national security.
16:50So, we feel really good about the deal.
16:52You've heard the Prime Minister.
16:53He feels really good about the deal.
16:55Right?
16:56And we started at 10 percent and we ended at 10 percent.
16:59And the market for America is better.
17:02And this is a perfect example of why Donald Trump produced Liberation Day.
17:07People don't understand he gets things done in a matter of time.
17:12This would have taken Jameson and I three years maybe.
17:16And instead we got it done in 45 days certainly because we work for Donald Trump.
17:22So, Jameson my partner in all this.
17:24Maybe Jameson you'd like to talk a little and then we'll turn it over to the UK.
17:27Sure.
17:28Happy to do that.
17:29Everyone has great remarks.
17:32I just have to echo the President and the Prime Minister when we talk about VE Day.
17:36This is something we've been waiting for for decades and there's no more appropriate date to do this.
17:40And when we step back and we look back a few weeks from now or months from now or years from now,
17:45we're going to look back at this day and better appreciate the significance I think.
17:49And I'll just say as well in terms of negotiating, I mean the UK negotiators, you know, we've got one right here, did an incredible job.
17:58Right?
17:59This is why you win wars, right?
18:00When you act like this.
18:01And the ambassador, he knows more about trade than a lot of us here based on his background.
18:05And I would say on this deal, Mr. President, what we've shown is that it is time to change the way we do trade.
18:13People said we couldn't do a global tariff.
18:16We did a global tariff.
18:17They said no one would want to deal with us.
18:18People want to deal.
18:19They said no one give offers.
18:20You saw that stack of offers I showed you yesterday.
18:22All those countries said we wouldn't get deals.
18:24And here we are with the deal with the sixth largest economy.
18:27We've agreed to have fair reciprocal trade.
18:29And we've done it in record time.
18:31Thank you very much.
18:32Great job.
18:33Mr. President, thank you very much indeed in hosting us this morning.
18:41And thank you very much indeed also for that very typical 11th hour intervention by you with your phone call to the President demanding even more out of this deal than any of us expected.
18:56So thank you for that.
18:58The Prime Minister was delighted obviously to take that call later tonight.
19:03But you took it to another level.
19:06And I think the point I would make is twofold.
19:09One is that if we're going to rebalance and rebuild international trade in a way that serves all our interests, then we're better doing that together than separately and apart.
19:24And that's what we're on a mission to do.
19:27But secondly, you've done what you said you would do.
19:31You said to the Prime Minister when he came and we visited in the Oval that you would do a good trade deal with the United Kingdom, that you would do it at pace, and that we would be first.
19:46And you have delivered that.
19:47And you have delivered that.
19:48You know, you've been true to your word.
19:49So thank you very much indeed for that.
19:53For us, it's not the end.
19:56It's the sort of, it's the end just at the beginning.
19:59I mean, there is yet more we can do in reducing tariffs and trade barriers so as to open up our markets to each other even more than we are agreeing to do today.
20:12But it also provides us with the platform, the springboard, to do what I think will be even more valuable for both our countries in the future, and that's creating a technology partnership between the United States and the United Kingdom so that we can harness science and technology in order to create future industries and future jobs.
20:39And to do that together in the way we work so closely already in the national security and defense area, we can just take that to yet further areas of science, enterprise, and endeavor.
20:53So we're looking forward to doing that in the coming months.
20:59You've launched us extremely well today.
21:02It just, in my view, as the Prime Minister has said, just shows what two countries who trust each other, who are confident in each other, and are familiar with each other, can do not just for ourselves, but for those in the rest of the world who need to benefit from a bigger and better international trading system.
21:23Thank you very much.
21:25It was beautifully stated.
21:26What a beautiful accent.
21:27I'd like to have that accent.
21:30My mother would be proud.
21:31Thank you very much.
21:32Any questions?
21:33James Matthews from Sky News.
21:34Yes.
21:35Can I ask, why prison and why now?
21:36And you've described this deal as a full and comprehensive deal, and yet we've just heard from Mr. Magnus, and it's the end of the beginning.
21:49Clearly, there's much more work still to do.
21:52With respect, are you overstating the reach and significance of this deal, because you're a president who needs a result at a difficult time?
21:59Mr. I think that it's a great deal for both parties.
22:02It's for us.
22:03We're opened up.
22:04I didn't know how close it was.
22:06Quite close, the market, as you know, the UK.
22:09And it opens up a tremendous market for us, and it works out very well, very well.
22:15And a lot of assets, you see the chart, and those are tremendous assets.
22:21But we've been trying, and when you say, why us, meaning your country, we've been trying for years.
22:27And they've been trying for years to make a deal, including when I was in the, you know, first term.
22:32It would always be people talking, but they weren't getting it done.
22:36But for 25 years before that, they were trying always to make a deal, a very significant deal.
22:44I actually, until I looked at the numbers, I didn't realize this is a very conclusive deal.
22:49But we think we can grow it even from that.
22:51But this is a maxed out deal, not like you said it.
22:54You said it really incorrectly.
22:57This is a maxed out deal that we're going to make bigger.
23:00And we make it bigger through growth.
23:03But we have tremendous assets involved.
23:06I was surprised to see how big your country is in trade.
23:09Actually, one of the biggest in technology and so many other things.
23:14It's agriculture.
23:15I really didn't know.
23:17It's, depending on your definition, it's from four to five to six.
23:21It's, that's pretty big in the world.
23:23So I was very impressed by that.
23:25But we're going to take it to new levels.
23:28It's a very big deal right now.
23:32But I think it is going to grow.
23:34Just of its own volition, it's going to grow.
23:36And over time, there'll be changes made.
23:39There'll be adjustments made.
23:40Because we're flexible, we'll see things that we can do even better.
23:44But it's very conclusive, and we think everyone is going to be happy.
23:49And the people of your country are going to be very impressed with the result.
23:54And they'll be able to buy from more people.
23:56They'll be able to price things differently.
23:58They'll be able to get some products that aren't available to them now,
24:01that we make better than anybody in the world.
24:03And it's just something that, it's a great thing that it came together.
24:07It's so nice, because we have, many countries want to make a deal.
24:12And many countries are very unhappy that we happen to choose this one, to be honest with you.
24:19But it's a long time, our oldest ally, or just about.
24:24I guess a couple of people claim that, too.
24:27But let's put it right at the top.
24:29I think it's going to be something very special for the UK and special for the United States.
24:34Thank you, Mr. President.
24:36Reagan Reese with The Daily Caller.
24:40How close are you to more deals, and when do you expect the next to be announced?
24:44Well, very close.
24:45We have numerous deals.
24:46I know Howard is going back.
24:47As soon as this is finished, your press conference, he's got numerous.
24:50And Scott, who is right over here, who is fantastic, by the way, you were great on television this morning.
24:56I watched, you know, so he gave them a little lesson in the world in economics.
25:01But Scott is going to be going to Switzerland, meeting with China.
25:07And, you know, they very much want to make a deal.
25:10We can all play games.
25:12Who made the first call?
25:13Who didn't make it?
25:14It doesn't matter.
25:15It only matters what happens in that room.
25:17But I will tell you that China very much wants to make a deal.
25:21We'll see how that works out.
25:23Every country throughout the last 40, 50 years has literally ripped off the United States on trade, on military protection, on all the different things.
25:33And we are now making fair deals.
25:35And in this case, it's great because we really weren't very much involved.
25:40You have the European Union, which is, I think, you know, I think you made the right decision years ago.
25:46I don't know if you remember, I was opening up Turnberry the day that you were voting.
25:51And they asked me, would it happen or would it not happen?
25:53I said, no, I think they're going to go their own separate way.
25:55I think it's better for them.
25:57And they did.
25:58I think it's going to end up being a very smart decision.
26:00But a big part of that decision was always that you'd be able to make a deal with the United States.
26:05And they were unable to do that.
26:07But now they made it.
26:08And it's a tremendous, you know, it's very important.
26:11That was always a big part of your decision on Brexit.
26:15And they were never able to make that deal.
26:18It was, you know, it was a tough one.
26:20And this one was, it's amazing with time.
26:22This one just went very smoothly, went quickly and smoothly.
26:26And a lot of common sense, as I like to say.
26:29It's tremendous common sense.
26:30But it's going to make your country much bigger in terms of trade.
26:33And it's going to make our country much bigger in terms of trade, too.
26:36Yes, sir.
26:37The President.
26:38The President.
26:39The President.
26:40Tom Bateman at the BBC.
26:42Thank you, Mr. President.
26:43You mentioned meat.
26:44The President.
26:45You're with who?
26:46The BBC.
26:47Oh, good.
26:48Very nice.
26:49They treat me beautifully.
26:50The President.
26:51You mentioned meat and beef exports.
26:52The U.K. currently doesn't accept American beef because of its own food standards.
26:58Are you calling on the U.K. to accept all American beef and chicken products?
27:05Well, I think they'll take what they want.
27:08We have plenty of it.
27:09We have every type.
27:11We have every classification you can have.
27:14As you know, Bobby Kennedy is doing a tremendous job.
27:17And he's, I think, probably heading toward your system with no chemical, no this, no that.
27:24I mean, I think we're heading that way, it seems to be.
27:27And — but we have that also.
27:29So we have — we're a very big country.
27:32We have a lot of beef.
27:34We're a very big country.
27:35So it'll be — it'll be great.
27:36Yes.
27:37Yes.
27:38Yes.
27:39Let's talk about American beef really quickly.
27:41And it can't be understated — I'm Brooke Rollins, by the way — how important this
27:44deal is and what this means to American farmers and ranchers.
27:48Specific to the beef, this is going to exponentially increase our beef exports.
27:53And to be very clear, American beef is the safest, the best quality, and the crown jewel of American agriculture for the world.
28:01So I think a really important part of this deal isn't just the ethanol reducing of tariffs from 19 to zero, which for our row croppers is a huge deal, but also for beef.
28:10And as we move forward, I know our incredible trade team is looking at all of the meats, all of the produce, really all of our agriculture exports.
28:17And I don't know if there's an industry that has been treated more unfairly and has suffered more than our agriculture industry.
28:24So we look forward to — I'll be in the U.K. on Monday, talking to my counterpart over there for the next — really for next week.
28:30And I look forward to moving that out across the country.
28:32The President is incredible.
28:33The President is incredible.
28:34The President is incredible.
28:35I think we could say that we have the best in the world — the best tractors, the best everything in the world.
28:40And they say that our agriculture is, you know, second to none.
28:44You understand.
28:45And it'll be a great asset.
28:46People are going to be able to have options, choice, and they'll have more of it.
28:50And that usually means lower prices.
28:52How about we'll do you, and then you?
28:53Go ahead.
28:54The Pressし — Well, a last question for the Italian TV.
28:56Daniele Compatangelo, Travel 2000, Primetime Media.
28:59So, congratulations for the deal.
29:00We'll see big revenues from the chart.
29:03What's the rest of Europe?
29:05It's a victory day, but other European countries — it seems like they're losing the train.
29:09The President — Well, we've been trying to make a deal with Europe.
29:13We have found that the European Union treated us extremely unfairly, very difficult,
29:19and hurt themselves in doing so.
29:21And they very much want to make a deal.
29:22We'll be dealing with them.
29:23We are dealing with them.
29:24them currently so that'll cover pretty much the rest of it but this was separate because of
29:30brexit in particular you know this was a separate a separate deal it always seems so natural i mean
29:36all the media would say that this seemed to be like why did this happen 25 years why didn't it
29:41happen a long time ago and it was always amazing to me somebody would say hey we got to make a deal
29:47we have to make a deal but this deal just fell into place the prime minister did a fantastic job
29:52his representatives are total professionals and they got along well and it just seemed to work
29:58and i think one of the reasons it did is because we blew up the whole system if we would have just
30:02been dealing with you separately or you know country by country and we blew up the whole system it was
30:08very fair to the united very unfair to the united states and i think because of that this worked
30:14out so nicely and i'm honored that it was the first deal please well why don't you go in the back yes
30:21well thanks sir it's um i'm with the london times i would say this is a great day for james bond
30:25because now aston martin's will be available to america
30:28even better by extending it to film you've talked about a big tariff on on films and we'd like to
30:36know if there'd be relief on british well we're going to have a discussion on that separately
30:40and as you know we're putting tariffs on that particular film he said uh the movie makers
30:46and we're going to be doing some tariffs to get them because a lot of them have left this country
30:53they all live here the money comes from here everything comes from here but they make them
30:57in other countries so we're going to do something to bring them back uh maybe to a large extent but
31:04uh james bond has nothing to worry about that i can tell you james and you know sean connery was a
31:09friend of mine sean connery was responsible for my getting zoning in aberdeen
31:13he said let the bloody bloke build his golf courses
31:17i was like four years into the process and it was impossible in aberdeen
31:23and he i don't know he just stood up one day and he said that as soon as he said that i got the
31:28approvals in about two minutes so he had great he was a great guy sean connery and uh great character
31:34later in the year are you going back to you going to scotland and to the
31:39i won't be sure we have a lot of investment over there we have turnbury aberdeen we have uh as you
31:45know in uh dune bag in ireland right on the ocean they're all in the ocean i only have interest if
31:50they're on the ocean and uh we have we have good investments over there beautiful yes mr president
31:56if the talks go well this weekend between secretary bessett and ambassador brier with their chinese
32:01counterparts not preemptively but if the talks go well would you then consider lowering the tariff rate on
32:06china well it could be i mean we're going to see right now you can't get any higher it's at 145
32:12so we know it's coming down uh i think we're going to have a very good relationship you know
32:16i always got along very well with president xi uh that relationship was greatly disturbed by
32:22covet when covet came in uh but we get along very well now i mean we had a i mean the relationship
32:28was hurt with a lot of people a lot of countries when covet came in but uh i think we're going to
32:34have a very good relationship i i expect to have a very good relationship with china scott i think
32:39uh it's a very friendly meeting they look forward to uh doing it in an elegant way uh china as you
32:46know has a tremendous trade surplus with us and we can't you know we just can't have that and uh but
32:52i think it's going to i think it's going to be very good for both countries i would like to see china
32:57opened you know one of the big things here is and nobody would know this but the uk was largely closed it
33:03was very much closed to trade and now it's opened and a lot of the financial reporters are very happy
33:09about that because it's so much i i've listened to them i hope they get countries opened up
33:14and then you compete on a fair basis but you can't compete when you're not allowed to
33:19to go there china would be the number one example of that you know it's very close
33:23we almost had it last time before covid and that didn't work out
33:28uh but we made a great deal with china they had to buy 50 billion dollars worth of our food products
33:33and it was a great deal doing very well for our farmers and then when biden came in as usual nothing
33:39happened you know he didn't enforce it and it got less less less and ultimately you know destroyed a
33:45great deal that was a great deal but uh now i think that we're going to have a i think we're going to
33:50have a good weekend with china i think they have a lot to gain i do think they have far more to gain
33:55than we do in a sense but uh we're going to have a good i think we're going to have a very very good
34:00weekend you speak to she after the weekend talks yeah sure depending on what scott says we sort of
34:07uh scott is doing certain countries and uh howard's doing certain countries i mean i wish i had like
34:1310 more of each if we then we could do them all at one time but there will be a time we'll do we'll do a
34:19number of them and then there'll be a time i think i can say this scott and howard where
34:23we're just going to say because we understand the countries we understand what they want
34:28uh where we're just going to make the deal in other words we don't need the country involvement
34:33because we've already had it and we'll say uh this particular country which had big surpluses let's
34:39say we had therefore deficits that this particular country is going to pay a 25 percent tariff or 30
34:45percent or 50 percent or 10 percent or what whatever it may be uh this was i think we should explain
34:51it uh one of the things we did here that we'll rarely do is on cars we took it from 25 to 10
34:59on rolls-royce because rolls-royce is not going to be built here uh i wouldn't even ask them to do
35:05that 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
35:12monster car companies that makes millions of cars they make a very small number of cars that are super
35:16luxury and that includes bentley and jaguar uh so we have a some very special cars so in order to
35:24help that industry and that's uh really you know handmade stuff and they've been doing it for a long
35:30time in the same location uh and i said yeah that would be let's help them out with that one but
35:36that's different than a car company that uh comes out and makes millions of cars which they'll be doing
35:41in our country they're going to build uh we have many many uh factories car plants being built or
35:48uh going to be built very soon i think we can say that we'll be close to 10 trillion dollars
35:54of investment i think we're actually at that number now if you if you add up some of the ones we
36:01haven't heard about yet i mean we have some going up right now they have plants going up and they
36:05haven't even spoken to us they're doing it because of the tariffs and
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