President Trump (00:00):
… to Japan, and it was really wonderful. Malaysia, fantastic. Hundreds of billions of dollars are coming into our country primarily because of the election result, but the real reason is tariffs. The tariffs are coming in.
(00:16)
And as you know, last night I was with a lot of the greatest leaders in Japan, the biggest business people, and Mr. Toyoda was there, from Toyota, and he's agreed to invest $10 billion in building auto plants. They're going to build numerous auto plants throughout the United States with American workers, as you know. And it's a tremendous… It'll be one of the biggest investments ever in the auto business. This isn't just AI, this is in the auto business. And that was because of tariffs. This way he… It's the old story, if you build in the United States, you don't have any tariffs. So everyone's coming in. We're up to close to $20 trillion of investment. And yesterday, as you saw, we picked up about $518 billion. These are big numbers. These are numbers that no country has ever seen before. And we're now going, as you know, to South Korea, then I'm meeting tomorrow with President Xi.
Journalists (01:16):
Mr. President, sir, on the Xi meeting, are you expected or do you anticipate being willing to lower the fentanyl-related tariffs that you can see?
President Trump (01:25):
Yes, I expect to be lowering that, because I believe that they're going to help us with the fentanyl situation. They're going to be doing what they can do.
Journalists (01:34):
And on the rare earth curb, sir, do you need to see more than just a one-year delay? Is that sufficient to make other concessions?
President Trump (01:41):
I don't know. We haven't talked about the timing yet, but we're going to work out something. We're doing very well with rare earth, as you know. And we're I think going to make a big step with fentanyl. The thing with fentanyl, the border is now so tight, it's much tougher for them. We've been doing very well with that.
(02:01)
I call them the drug by sea, the boats, we took out four of them over the last few days and they're really stopping. They're not coming anymore. They're coming by land, but to a lesser extent. And if necessary, we're going to… Well, it will be necessary probably, but we'll be hitting them at land.
(02:19)
But the boats are very few and far between. We took in tremendous amounts of death… I call them the boats of death… tremendous amounts of death coming into our country. And each… Just it's estimated, I don't know if this is exactly right, but it's pretty close… 25,000 people die from each boat that we take out. If it had gotten back, if it had gotten into our country, kills 25,000 people. Not even talking about the destruction it does to families in terms of people that are… become addicted and all of the problems caused by fentanyl to families.
(02:58)
And over the last two days, I guess we took out four, but there are very few of them. There are very few of them now. That's down, I hear that's down about 80% by water, the drugs by water, as you know, about 80% down. And I would imagine it's going to be pretty close to 100%. Nobody wants to do it. And we'll be, and we already are, we're stopping them on land also.
Journalists (03:20):
Sir, what is China-
President Trump (03:21):
We're actually making our country safe. Think about it. I'm just saying as I speak to you, very simply, we're making our country safe. It's a beautiful thing.
Journalists (03:30):
Sir, what is China doing to justify removing fentanyl tariffs?
President Trump (03:35):
Well, I think they're going to do things that… They have an industry that has to do with drugs, and the fentanyl has other reasons for being, and we have to get rid of it. We have to stop it. And now we're stopping it at the border to a very much larger extent than ever before. Under Biden you had open borders, this stuff was flowing in.
(03:57)
I think they killed 300,000 people last year, fentanyl drugs coming through the southern border. And now nobody gets through the southern border. We just had another report of a zero. Zero people came. We are very tough on the border. And we're allowing people into our country, but they're coming in legally, through the legal process.
(04:18)
And I want to commend, I have to tell you, our border agents, our border patrol agents, they've been amazing. And ICE, these people do such a great job. What they're doing, Memphis is making tremendous progress, as you know, is extremely dangerous. And already it's down to less than 50%. A lot of criminals, career criminals, people that came in illegally, have been brought back to their countries and never to come back again. We tell them if you come back again, it's going to be brutal.
Journalists (04:48):
Sorry, just to clarify, so China's going to be working with US law enforcement on fentanyl or how is that going to work?
President Trump (04:54):
China's going to be working with me.
Journalists (04:55):
Okay.
President Trump (04:56):
Okay. They're going to be working with me and we're going to do something, I believe. I mean, look, we have to have the meeting, a meeting tomorrow, that's a big meeting. And fentanyl will be one of the things that we're discussing, important things. We'll be discussing the farmers. We'll be discussing a lot of things, but fentanyl will be one of the things we're discussing.
Journalists (05:13):
What did you mean last night when you said you were prepared to send more than the National Guard into American cities?
President Trump (05:19):
Sure, I would do that if it was necessary. If it was necessary, I'd do that, but it hasn't been necessary. We're doing a great job without that. But yeah, if it was necessary. As you know, I'm allowed to do that.
Journalists (05:32):
Do you mean other branches of the military you would send in or… ?
President Trump (05:37):
Who are you with?
Journalists (05:38):
The New York Times.
President Trump (05:41):
Well, if you write it correctly, I'll give you the answer. But I want to enact a certain act. I'm allowed to do it routinely, and other, about 50% of presidents have used that, as you know. And I'd be allowed to do whatever I want. But we haven't chosen to do that because we're doing very well without it. But I'd be allowed to do that, you understand that. And the courts wouldn't get involved. Nobody would get involved. And I could send the Army, Navy, Air Force, Marines, I can send anybody I wanted, but I haven't done that because we're doing so well without it.
(06:16)
Washington, DC, continues to be amazing, safe, and it's really great. As I said, Memphis, where we are now is doing really well. It's down, I think almost 70, 60, 70%, and within two, three weeks, it'll be down to almost no crime.
(06:35)
Now we're taking a lot of bad people out. We're incarcerating some very bad people, some gangs, they have a lot of bad gangs there, and we're taking care of it. And we're doing things that, frankly, local law enforcement's going to have a hard time doing. But we were all set to go last Saturday into San Francisco. We looked forward to that. We would've solved that problem in less than a month. But at the behest of a couple of really great people, very successful, great civic-minded people, they said, "We'd love to try doing it ourselves." And that's okay. And we worked with the mayor, and we're working with those people, but we didn't surge the city. And I said if we surge, it's going to go a lot quicker and it's much more effective. But I want to give them a chance to do it themselves if they can. If they can't do it themselves, we'll solve San Francisco in two weeks.
Journalists (07:27):
Mr. President, on the southern border. Claudia, President Sheinbaum of Mexico said that the tariff truce with the US has been extended for talks. How long are you willing to wait for that to play out, that extension?
President Trump (07:38):
Well, I like the extension with Mexico because we're doing very well with that extension. We get a lot of tariffs. They're paying a lot of money. As you know, a lot of car companies are moving from Mexico back into the United States. They took our car companies a long time ago, 30 years ago and more. We lost about 57% of our automobile manufacturing over the decades. And it's all coming back because of tariffs. It's all coming back, and the tariffs are really national security as much as anything else. It's national security in many ways, but one of the ways that it's national security is we're building up great wealth because of tariffs, and that you need wealth to be secure. But it's in a more traditional sense also national security, very important. But we're bringing back our auto plants that deserted us 20 and 30 years ago. They're all coming back.
(08:34)
Last night I met with Mr. Toyoda, and we had an amazing meeting. I said, "What's your name? "Toyota." I said, "You're rich." And he's going to invest, think of this, $10 billion in the United States to build manufacturing plants. They'll build their cars with American workers largely. I mean, they have the right to send some experts, but they're going to be building cars in the United States. So we're getting all of our manufacturing back in the car business.
(09:09)
And AI, we're leading China, we're leading the world in AI. We're getting them rapid approvals on energy, and I've allowed them to produce their own energy for each plant, so that rather than relying on an old and somewhat weak grid, the electric grid, they build their own energy. And then, if they have excess energy, they sell it back into the grid. So it's great. It's really worked out well. It's allowing them to build rapidly and they are building all over the United States.
Journalists (09:41):
In the Middle East, sir-
(09:41)
Sir, could we get your reaction to Israel striking in Gaza again?
President Trump (09:46):
Well, as I understand it, they took out an Israeli soldier. I just heard about it a little while ago. They took out, they killed an Israeli soldier, so the Israelis hit back. And they should hit back. When that happens, they should hit back.
Journalists (10:02):
Do you think that… Does that worry you about the ceasefire? Does that jeopardize the ceasefire in any way?
President Trump (10:06):
No, no. Nothing's going to jeopardize. You have to understand, Hamas is a very small part of peace in the Middle East and they have to behave. They're on the rough side, but they said they would be good. And if they're good, they're going to be happy. And if they're not good, they're going to be terminated. Their lives will be terminated, and they understand that.
(10:29)
And we have many countries that are willing to do that. We have many countries, even Japan today said we'd love to be involved in the Middle East and we can help you by sending anybody, by sending people, including experts. But we have many countries that would do that, not just Israel. No, that's a very strong peace. Hamas is a small thing, but they kill people. They grew up killing people, and I guess, they don't stop. But nobody knows what happened to the Israeli soldier, but they say it was sniper fire and it was retribution for that. And I think they have a right to do that.
Journalists (11:08):
Is it possible that there are fringe elements within Hamas that are trying to undermine this?
President Trump (11:13):
I think there are, because we actually met with people that were leading it. And they really want to see… And they're really… In my opinion, based on the experts that dealt with them, I think they're unhappy when they see some people being killed.
Journalists (11:28):
Will Hamas [inaudible 00:11:29]-
President Trump (11:28):
It's not like it was, but some people being killed, we don't want that.
Journalists (11:32):
Will Hamas decommission its weapons? That's a key part of the next step with this.
President Trump (11:35):
[inaudible 00:11:36] that right now. That's starting because we're getting into phase two and that's starting. But you have to understand, Hamas is a very small part of the overall Middle East peace. We have peace in the Middle East. If we have to, we'll take out Hamas very easily, and that'll be the end of Hamas. We would rather not. We made a deal with them where they were going to behave and have to behave. If they don't behave, they get taken out. And it could be from numerous countries, it could be from Israel, but it could also be from other countries. Numerous countries have already called me, that are parties to the deal, and said, "We'd love to do it if you'd want us to do it." And these are powerful countries. These are not countries to be toyed with.
Journalists (12:15):
Sir, what's your reaction to North Korea test-launching a missile this morning?
President Trump (12:21):
What did you say?
Journalists (12:25):
North Korea test-launched missiles this morning. What's your reaction to that?
President Trump (12:27):
I don't understand.
Journalists (12:27):
Missiles, the North Korean missiles?
President Trump (12:31):
Oh, I don't know. He's been launching missiles for decades, right? It's another missile that was launched. I always had a very good relationship with him. So at some point I'll be meeting. The schedule is very tight, as you know, but at some point I look forward to [inaudible 00:12:48]. We had a very good relationship. I mean more than a… We had a really good understanding of each other. We met, we spoke to each other a numerous times and [inaudible 00:12:57] a good relationship. At some point we'll be involved with North Korea.
Journalists (13:02):
Does that mean, sir, no meeting with Kim Jong Un this trip?
President Trump (13:05):
I don't know. The people were… I think they'd like to, and I'd like to, but I also want to focus on China. I mean, our focus is now on tomorrow with China, and I want to make that the focus. But we'll come back and we'll, at some point in the not-too-distant future, meet with North Korea.
Journalists (13:21):
How much do you expect Xi to try to push you on Taiwan?
President Trump (13:25):
I don't know that we'll even speak about Taiwan. I'm not sure. I mean, he may want to ask about it.
Journalists (13:30):
Are you into agreeing?
President Trump (13:30):
There's not that much to ask about it. Taiwan is Taiwan. But the beautiful part about Taiwan, frankly, and they understand it, is we're bringing a lot of those chipmakers into the United States. If you look at the number one chipmaker in the world, they're building a massive factory in Arizona. The biggest in the world actually, we're making chips. If you look at Nvidia, Nvidia is doing unbelievable. We're bringing a lot of the Taiwan business back to the United States. I think by… Within two years, I think we'll have 40 to 50% of the chip market. But that's happening. And I don't know, it's happening because of the tariffs. It's also happening because of the fact they probably, maybe, they're a little bit concerned about things, who knows? But they are tremendous. I don't know if you're reporting it, but massive numbers and percentages of the chip business is coming back right now as we speak. They're building plants in Arizona, Texas, and other places.
Journalists (14:34):
On chips, sir, have you agreed or will you agree with Xi, potentially to allow the license of more exports of Nvidia Blackwells or downgraded [inaudible 00:14:43]?
President Trump (14:43):
[inaudible 00:14:43] about Blackwell, we'll be speaking about Blackwell's super-duper chip. Blackwell is amazing, Nvidia makes it. But Jensen is an amazing, brilliant man, and it's probably 10 years ahead of any other chip. And unlike a lot of other businesses, you just can't catch him. It's mostly you can copy and you can do things, you really can't in the chip business for whatever reason, that doesn't work that way. But Blackwell just came out. Jensen presented me with the first Blackwell chip three days ago in the Oval Office. And it's an amazing thing that they've done. But that's our country, we're about 10 years ahead of anybody else in chips, in the highly sophisticated chips. I think we may be talking about that with President Xi.
Journalists (15:33):
[inaudible 00:15:33]-
(15:33)
China has actually discouraged sale, purchase of those chips. Is that something that's on the table?
President Trump (15:38):
Well, China actually terminated the relationship with Nvidia. That was a big thing. But in the meantime, Nvidia hit a brand new high, as did… You know the stock market yesterday hit the highest ever than it ever was. So we're doing all of the markets. I mean, every one of our market's saying… We're doing great. The country is doing great. We have the shutdown caused by the Democrats, and at some point they'll come back. I think they're getting just killed right now. But all they have to do is say let's get back to business and we're back. There's nothing to sign. There's nothing to negotiate.
Journalists (16:19):
On Hurricane Melissa, have you been following that? The Jamaican government is [inaudible 00:16:24]-
President Trump (16:23):
No, I have, because I've never seen numbers like that. I saw it a little while ago, 195-mile an hour wind. I've never seen that before. I've never seen… I guess it can get that high, but I've never seen it. And it's literally just knocking down everything in front of it. It's a stage 5, I guess, and you don't see stage 5, you don't see 5s very often, you see 4s and 3s. But this is a 5 early on, meaning it gets worse. So it's done a tremendous job, you mean on Jamaica?
Journalists (16:53):
Is the United States going to aid Jamaica?
President Trump (16:55):
On a humanitarian basis, we have to. So we're watching it closely and we're prepared to move, but it's doing tremendous damage as we speak. It's right there right now.
Journalists (17:07):
Sir, can I ask you-
(17:08)
On the market recalls, like some experts warn about an AI bubble. Are you concerned?
President Trump (17:14):
What's the AI problem?
Journalists (17:16):
That's what some experts say that some investments are, some investors are overreacting.
President Trump (17:21):
[inaudible 00:17:21] everybody wants AI because it's the new internet. It's the new everything. It's one of the biggest things anyone's ever seen. So everyone wants it. Yeah, I mean, the only problem is if you don't get it. In order to get it, you have to be able to produce some tremendous amounts of electricity, and we're allowing them to produce and make their own electricity. This way, they don't have to rely on government. And by the way, they're making electric plants that are so sophisticated and so incredible, so much beyond, that companies that make and service electricity, Con Edison, all the different companies that do that and do it well, but they've never seen anything like what's happening. It's almost a revolution in the making of electricity, the level of sophistication.
Journalists (18:09):
Sir, Speaker Johnson says that he told you that there's no time to amend the Constitution to allow you to serve a third term. Is that an accurate representation of the conversation you had?
President Trump (18:19):
I don't know. I don't want to even talk about that, because the sad thing is I have my highest numbers that I've ever had. That's actually… And I ended eight wars, and we have the greatest economy in history. And by the way, energy prices are way down. Everything's way down. Beef is a little bit high. We're going to get beef down too. But prices are down and the economy's up. The only thing that's not down is the stock prices and 401(k)s are through the roof. Everyone's 401(k) is hitting records. So we have the greatest economy we've ever had. I have my highest poll numbers that I've ever had. And based on what I read, I guess I'm not allowed to run. So we'll see what happens.
Journalists (19:00):
Johnson says you're trolling when you talk about a third term, are you trolling or are you serious?
President Trump (19:04):
I don't think he said that. I don't think he'd used that term, but it's a very interesting thing. I have the best numbers for any president in many years, any president. And I would say that if you read it it's pretty clear, I'm not allowed to run. It's too bad, I mean, it's stupid. But we have a lot of great people.
Journalists (19:24):
Food stamps have stopped to be being sent out on Saturday. The Department of Agriculture says they cannot tap into contingency funding to fund that. Is your administration-
President Trump (19:34):
Fund what?
Journalists (19:35):
Food stamps, SNAP benefits… is your administration looking at-
President Trump (19:37):
We're going to get it done. The Democrats have caused the problem on food stamps. They've caused… All they have to do is sign. And if they sign, I'll meet with them. They're all saying… Well, they actually said, "Trump is doing an amazing job in this trip." This trip, we're bringing back trillions of dollars. So it's hard. But they do want to meet with me when I get back. But I say, get the economy open and we'll meet. I'll meet and we'll solve any difficulties.
(20:04)
We have to fix healthcare because Obamacare is a disaster. I mean, when you see the increases in Obamacare, it never worked, it never will work. And we could do something, work with the Democrats, much better than Obamacare. Less money and better healthcare. And that's something I think that could come out of this with the Democrats, work with the Democrats. Because right now the insurance companies are making too much money and they're making a fortune. And the healthcare, Obamacare, is poor and the premiums are ridiculous. It's going up a lot. I don't want to say the number, the number is very substantial, but when you hear the number and it's Obamacare. It never worked, it never will work. It'll never be good.
(20:51)
And I think it's a great time for the Republicans and Democrats to get together and make something that will work and let the insurance companies make money, they're entitled to that, but not the kind of money that they're making.
Journalists (21:04):
Would you bring Democrats in to have that discussion now?
President Trump (21:07):
Yeah, I would do that, sure.
Journalists (21:08):
But now, sir?
President Trump (21:08):
Well, I'd say open up the government and we'll work it out. I think a lot of good things can happen from it. Well, listen, thank you very much. We have two big days. This is a big day, and we're going to be speaking in APEC. And a lot of countries are there. They're all investing in the US. We're the hottest we've ever been. We're the hottest country in the world, and they're all investing. So I'll be doing that.
(21:30)
And then, tomorrow morning is the one that most people find the most interesting. And I think we're going to have a great meeting with President Xi of China, and a lot of problems are going to be solved. Okay?
Journalists (21:42):
You're optimistic? You're optimistic about it?
President Trump (21:45):
Yeah, I'm very optimistic. I am. And I know a little bit about what's going on because we have been talking to them, we're not just walking into a meeting cold. But the relationship with China is very good. So I think we're going to have a very good outcome for our country and for the world, actually. I think it's important for the world.
Journalists (22:04):
How was your day with the prime minister?
President Trump (22:06):
We're doing very well with rare earth. We're involved with rare earth all over the place now, and some amazing things are happening.
Journalists (22:15):
Do you think China-
(22:15)
How was your day with the Japanese prime minister?
President Trump (22:17):
I think she's fantastic. I think she's a wonderful woman. She's very sharp, very smart, very energetic, and you see it. I mean, the pictures don't lie. They really don't. The pictures are amazing. I saw some of the pictures this morning and they're amazing.
(22:33)
But I think she's a terrific woman, first woman ever to be prime minister of Japan, and she'll go down as one of the really great ones. I had a fantastic relationship with Shinzo Abe, the prime minister who was assassinated, horribly assassinated. He was a great man. And he was my best relationship, and she comes from that exact camp. He would've supported her had he been around.
Journalists (23:01):
Were you touched by the putter and the golf bag you received?
President Trump (23:03):
Yeah, they're beautiful. I played golf with him, and they gave me the putter that he played with. And he putted very well that day, I remember. Thank you very much, everybody.
Journalists (23:11):
Thank you, Mr. President. Thank you.
(23:12)
[inaudible 00:23:13].