President Trump: We’re Going to End Up with A Great Deal 4/21/26

24:46And is that something you'd consider dropping the DOJ probe to let the banking committee handle it? Well, I think it is from the standpoint, Joe, from the standpoint that we have to find out why a small building costs close to$4 billion. It's not finished, by the way. They have a long way to go. They rip down the most beautiful ceilings. They'll never build them again. The most beautiful, thick, foot-and-a-half-thick walls of solid masonry. They're never going to be built again. They put up six inch sheetrock walls and they say, so we have no insulation. It's not in the budget. I mean, they had the best.

25:19That building was so beautiful. I would have fixed that building. I would have had it brand new, beautiful for twenty five million dollars. And they're going to spend close to four billion dollars, maybe more than that. I don't know. It's not finished. In fact, I looked at it the other day. I'm afraid Kevin will have to have an office next to me in the White House because that building's not going to be done. He's not going to be able to use that building for a long time. And, you know, he had a complaint. He said, I didn't realize this. He said, the saddest thing is they ripped down the best building.

25:46He said there was a building that had beautiful boardrooms that he used many times when he was there, that beautiful boardrooms and meeting rooms. It was so beautiful. The nicest in Washington. He said, they ripped it down. And maybe they did that to save money, like the Gavin Newsom, the railroad, where they made it shorter in order to save money, but it's still 25 times over budget. But the worst I've ever heard is the railroad in California. and I think this might be worse. Think of it. I would have fixed that building beautiful, quickly. $25 million would have been like a brand new building.

26:20I would have, all the ceilings would have been left. All those beautiful thick walls with gorgeous moldings would have been left. You're going to get a sheetrock ceiling, a sheetrock wall without insulation. They said, sir, insulation's not in the budget. Insulation costs you$100 a room. The whole thing is crazy and they're at four. I think it's going to cost more than four billion dollars when it's finished but and it would not know you know but don't somehow we have to find out how this can happen not the first time how does this happen has did the contract to make three and a half billion dollars you know i think i think i can't imagine well i can't imagine that too late it's taken money construction i can't but it's possible but we have to find out why is the job that should have cost twenty five million dollars costing billions and billions of dollars.

27:11You know, I built the hotel. It's now the Waldorf. I sold it to Waldorf and it's now the Waldorf. I built it for 201 million. It's a bigger building than the federal. And it was hotel rooms with bathrooms and, you know, partitions. And it's much more expensive to build a hotel room than it is a nice empty office space. Right. And I built that for 201 million. This now is eight years ago or so. But think of it. This building, you look at it, It's a little building. It's over. I think it's going to cost over 400 billion dollars. And here's the thing. It's going to be nothing compared to what it was.

27:47This is they spent four billion dollars and it's nothing compared to what it was. It was beautiful. It was beautiful. Seilings are all destroyed. They took them down. I don't know why. If the DOJ, though, if if if this goes forward with Department of Justice and it delays the appointment or the him being confirmed, Kevin Warsh, it's kind of counterproductive for what you're trying to do in terms of changing the MO of the Fed up to this point. So I'm just trying to look for an off ramp to get. Well, it is and it isn't, Joe. You have to find out why a thing like that could happen, because if you have hundreds of projects like that, you know, very few are like this.

28:31But if you had hundreds of projects like that, you have to find out why that happens. I mean, because we obviously don't do it right. But, you know, we have some really people who have some great people in government that can do jobs. I built under budget, ahead of schedule. I'm doing a ballroom now. It's a much bigger job than that. And it's going to cost, depending on finishes, like 300, 300 million dollars. It's a much bigger job than that's ahead of schedule. And I have lawsuits every week from all these people, all the do-gooders that, you know, that stop progress in our country. I'm going to give Becky a chance, Mr.

29:07President, to get you there. And you can have some extra time. I know my people said 20 minutes, but you can have some extra time. Oh, that's good. You can even put Andrew on the phone. You know, you told me Andrew would not be there. And I said, I don't care if he's there. That was last week. That was last week. You could even put Andrew on. That was the president. Joe made a comment to me. When he tried to get me on, he said, I promise I'll have Andrew Ross talking. He will not be there. He is there. And you can put him on. It's okay. I didn't say I had him. I said he's not in last week, but then you canceled because you were on the West Coast.

29:36Thank you, Mr. President. I'll chime in in a minute. He's going to be so... But I don't mind if he's there. I like him. I respect him. He's just wrong on a lot of issues. There you go. Okay, go ahead. Mr. President, thank you. Let's talk a little bit about what you... Hi, sir. Let's talk a little bit about what you expect from your next Fed president. There had been a lot of expectations. You've been very clear about wanting lower rates. But with the situation in Iran right now with higher oil prices, most people tell us that that's going to have to wait. The market itself is not anticipating lower rates or any rate cuts until at least the second half of this year.

30:15There's only a 41 percent chance or something of that, according to the market itself. Will you be disappointed if your new Fed chair, if he gets approved, doesn't cut rates right away? I would. But let's talk about Iran first. uh iran if you i'm looking at your numbers now as i speak i mean the market's up we're going to be at 50 000 that's where we were just a little while ago when it started and when i hit 50 000 on the dow and 7 000 on the s p i said well i hate to do this to everybody but i'm going to have to journey down to a place called iran and not make sure they don't have a nuclear weapon because they will blow up the world you want to see a bad stock market try blowing up the middle east and then Europe, and then they come for us, right?

30:58And we're not going to let that happen. So I said to the people, I said to my people, they were all gathered, all these wonderful guys, Scott Besson, the whole group, Howard, they were all doing a good job. I said, fellas, I got a little bad news for you. I'm going to put a little wrinkle in your numbers. Why, sir? We're going down to a place called Iran, and we're going to make sure that they never have a nuclear weapon, because they'll use it to blow up, because they're religious fanatics, and they will use that weapon to blow up the world, but they'll start with Israel in the Middle East, and we're not going to let that happen.

31:29And they said, wow, that's going to be bad. I said, yeah, it's going to hurt the market, and it's going to drive up the price of oil and whatever it is, but that's peanuts compared to what would happen if we let this happen. And I told them, 47 years, other presidents wanted to do it. They never had the guts, the courage to do it. I said, we have to do it. And they understood that, very professional. They're great guys, great people. Jameson's doing such a great job, all of them. And so I said, we're going down and we're going to, we're going to do our little thing. And we did. And we've, you know, knocked out with, we've totally won the war.

32:02You know, if you read the New York times, you think, oh, gee, what are we surrendering? We have totally beat them militarily and, and otherwise, and otherwise. I mean, I wish I could, I wish you could hear the conversations we have with him, with them. We are Victoria. If we left right now, it would take them 20 years to rebuild and they can't get the nuclear dust because it was obliterated by the B-2 bombers that went in. They never got the credit they should get. They've tried to get down there. You know, we have cameras from Space Force on it all the time. They've tried to get down. They can't get down.

32:34That place was obliterated. They did such a good job. The left tries to make it, you know, tries to demean all the time, like, oh, well, maybe it wasn't totally obliterated. It was, and they can't get it, or they would have tried to get it. But the fact is that we took this little journey. And if you would have told me that the Dow is almost, I'm looking at your thing, I mean, literally we're at 50 ,000. And if you would have told me that oil is at 90 as opposed to 200, I would be frankly surprised. And you know what is happening? Boats are finding other sources. They're going up to Texas and Louisiana.

33:09They're going to Alaska. They're going to other places. It's an amazing phenomenon. You know, when there are problems, people find out how to take care of things. And the straight's very important, but people have found out. I mean, you're taking a look. Look at your numbers right now. I'm looking at where the stock market's up, where it's, you know, look at that S &P. The numbers are what they were when we started this whole thing. I thought they'd be down 20 % or down a very substantial amount. Even when it was down more a couple of weeks ago, I was surprised. I thought it would be down much more, and I thought the oil would be much higher.

33:47and I'm very happy to say that it wasn't. And when it's over, and it will end, when it's over, you know, they want it to be over immediately and I just looked at a little chart. World War I, four years and three months. World War II, six years. Korean War, three years. Vietnam, 19 years. Iraq, eight years. I'm five months, okay? Five months. I would have won Vietnam very quickly. If I were president, I would have won Iraq in the same amount of time that we want to essentially we've won here. OK, I mean, people can play games. The Democrats can say, well, we should have done better no matter what.

34:25If I did it in one week, they should have said that they'd say we should have done better. Look at Venezuela. I took it over in 45 minutes. It was basically a 45 minute. By the way, a very strong military country. And we took it over in a day. But let's be nice. But we basically took it over in 45 minutes. We took it over during the attack in 45 minutes. And they would say, I'm surprised I haven't said it, that you should have done it in 30 minutes. It took too long, you know. So it's stuff. But we can't let traitors, we can't let traitors like Schumer put pressure on you where they say, we want out.

35:01Think how bad that is. I'm negotiating with these people. And they're telling us, we have to get out now, we have to get out now, we have to get out. And they were in a war for 18 years. They were in a war for, think of that. Vietnam, 19 years. Iraq, eight years. I want to make a good deal. I'm not going to be rushed. I have all the time in the world. I want to make a great deal. I don't want to do this, go through this. And, you know, we have... I mean, if you look at this, what we've suffered in terms of losses, we lost 13 men, and that's terrible. I wish we didn't lose one. But if somebody would have said, we've done this and obliterated that country, obliterated it and we lost 13 men people to said that's not possible to have done that it's not possible right so we've done a great job and i don't want to be rushed by people that are really treasonous as far as i'm concerned whether and it's just you know i watch this low iq guy hakeem jeffries is a totally low iq person and he's always ranting and raving oh this war is so terrible they shouldn't be saying that when we're in the midst of a negotiation because it does hurt us somewhat.

36:08It gives the other side some hope. And I don't want them to have hope. Mr. President, I wanted to ask you about Anthropic, if I could, for a second, because this is a company that your administration has declared a supply chain risk. And I want to understand the determination for that. There's a view by some that it's political. But more importantly, at the same time that this is happening, reportedly, the NSA and other parts of the government are using Claude, which of course is the large language model of Anthropic, and how you square that? Well, Anthropic is a group of very smart people, but they started telling our military how to operate, and we didn't want that.

36:47And they tend to be on the left, radical left, but we get along with them. In fact, they came to the office. They came to the White House a few days ago, and we had some very good talks with them. And I think they're shaping up. They're very smart, and I think they can be of great use. I like smart people. I like high IQ people, and they definitely have high IQs. You know, it's one of those things, and I think we'll get along with them just fine. So do you think a deal will be made so that Anthropoc will be allowed to be used inside the Defense Department in the future? We want the smartest people.

37:21Now, in the meantime, we replaced Anthropoc with somebody else. You know who they are, and they're very, very smart people. Sam Altman, the very, very smart group. We have a lot of smart groups. We have some brilliant people. We have the most brilliant people in the world. President Xi told me that. He said, Silicon Valley, he called it Silicon Valley. During the conversation, I have a great relationship with him. He said, you have the smartest people in the world. And we do. You take a look at what's happening with Jensen and all of these people. And it's a great honor to be working. I think Tim Cook.

37:56And I see he's retiring. I wrote a piece about him today and I know I got to know him very well. He's a he's a fantastic person, did an unbelievable job. And I say it respectfully, but if Steve Jobs had lived and ran the company, it might have done good, but it wouldn't have done, I think, nearly as good as the job Tim has done. And I got to work with him. So I really know it. I know what I'm talking about. He's a very unusual guy. He gets things done. Mr. President, yeah, we did read your entire true social post. I just want to return for one second and make an analogy. You saw what inflation did to the Biden legacy and administration.

38:38So 22 percent price increases. By the time he was leaving, it was down to about where it is now, about three percent. But not a single it was down to five percent. It wasn't down. But but but not a single reason it was down was because I had won the election and it started falling after I won the election. And I started getting prices down from right after November 5th. If you needed to to prevent that from happening, let's say Chair Warsh thought for whatever reason, there's some type of energy shock. Who knows with the blockade? Let's say that things got too hot at that point. Just to make sure there was no inflation, would you allow him to raise rates or not cut rates?

39:20Would there ever be a period where you could see that that was something that a Fed chair needed to do? And if he said he might have an office right near you, he might not want an office right right next to yours. Sir, I don't know. After after what happened to Jay Powell, you might want to be across in those new digs. Maybe. Maybe I'd like him next to me. Actually, it's not a bad idea. Maybe Jay Powell did us a big service in retrospect. I call him too late. He's just too late. He's always too late, except what it came to before the election, but that didn't quite work out well for him. So the answer is I want Kevin.

39:56I think Kevin's great. He's central casting in a true sense. I think he's going to do a great job. But yeah, if there's time for I've been I've been in favor of interest rate rises to stop inflation. I think it sort of is effective. But there's one thing and nobody ever talks about it but me, unfortunately. So I'm sure it's not correct. But I think it is. We should be we should have the lowest interest rate in the world. When I was a young guy growing up, we always had the lowest interest rate worldwide. We always did. And then 15 years ago, 20 years ago, it started where Switzerland and other people had lower rates than us.

40:33And I just had a thing with if you take a look at some of the, you know, let's call them like elite countries. They're only elite because we allow them to walk away with 30 billion and 40 billion dollars a year. But I don't do that so much anymore. I sort of put a clamp on that with the tariffs and charges that we charge them because they were elite. because they're making billions and billions of dollars from the United States, largely, and other reasons, and they run a good operation. But it's easier to run it good when you make that much money. Well, we have these massive deficits with, you take a look at some of the countries, but Switzerland is one.

41:10They talk, oh, yes, we are small and brilliant. Well, they're brilliant because they pay us almost nothing. Now they pay a little bit. They should pay much more. We'll get that up a little bit. But if you take a look at Denmark, you take a look at all these countries, you think of them so good. They pay such a low interest. Well, if we charge them and what happened with with me is I charged some of them and they squawk like you wouldn't believe it. They called and you are a small country. All of a sudden I realized they're not elite. We're elite. We're being sucked dry and we can't do that. And you'll see that, you know, we had a little setback with the Supreme Court.

41:48They said I can charge tariffs, but I have to do it a different way. And because of what they did, we have to pay back$160 billion. All they had to do was add one sentence, just one sentence. And that's you don't have to pay anything taken in thus far back. But because they didn't add, and by the way, it was a close call, too. There were justices that were powerful that I was right on the tariffs. but because we lost by just two votes, you know, just little vote, two votes, we have to pay back$165 billion. They could have, with a little one sentence, you don't have to pay back tariffs that have already been received.

42:26You start from this point, and you do it a different way. So we're doing it a different way. We're going to end up with the same. Actually, we'll end up with bigger numbers, actually, but it's a little more unwieldy, but it's the way it's been done. but it's so sad that the Supreme Court didn't want to save our country with one sentence, $165 billion, and we're giving a lot of that money back to people that hate our country. So I'm not happy with the Supreme Court, I'll be honest with you, okay? Mr. President, on that topic, there's a whole number of very large companies, including Apple and Amazon and others, that have not sought reimbursements yet for the tariffs, meaning they haven't tried to collect refunds.

43:07And from what I understand, part of the reason that they have waited is because there is a worry about, frankly, offending you. Would you find it offensive for them to try to collect a refund? I think it's brilliant if they don't do that. I actually think if they don't do that, they got to know me very well. I'm very honored by what you just said. If they don't do that, I'll remember them. I will tell you that because I'm looking to make this country strong. Supreme Court could have helped us. Now they have birthright citizenship. They'll probably rule against us. No country in the world has it.

43:39It's horrible for our country. And I just see it, you know. I see some of these Republicans that are nominated by me asking real bad questions. And it looks like maybe we're going to lose that one, too. Look what happened with NIL. They destroyed college sports, the court system. Destroyed. So hard to put that one back, Humpty Dumpty. So hard to put that one back together. You know, we had 150 years of rulings and everything else, and they had such a great system. It was a scholarship system. You get free college if you're a good athlete. You get this. You get that. And it took care of every sport, fencing, not only football.

44:18Now it's all football, and the football is bringing down colleges because they're losing. Did you see Penn State lost$500 million last year? Yeah, it did. Florida State lost$450 million last year. They can't lose that kind of money. They don't make that kind of money. And the court system, a person that never had anything to do with sports, a very liberal-leaning Democrat, liberal, she decided that the sports system that was in place for 150 years is no good. She never went to a game before. It's no good. And she said it's unconstitutional. and unfortunately ncaa didn't even appeal it you know i've won a lot of cases on appeal to be honest with you we got some really bad judges but i've won a lot of cases on appeal some great people some we have fortunately some great people in the appellate courts and uh i've won cases they didn't appeal it and because of that college college sports is is a disaster right now you have many people staying in college because they're going to make more money than they would if they went into baseball, Major League Baseball, or the NFL.

45:26They can make more money, you know, a seven-year freshman. We have a seven-year freshman. It's crazy what they've done. And this is a person that never went to a game, acknowledged, not familiar with sports, but she overruled everything. She said, it's all unconstitutional, started all over again. And thank goodness we have people like Randy Levine and others, Coach Saban, who's so great. We have a lot of people got together, but it's very hard to put that one together, I will tell you right now. It's a tough one, but they're going to do the best. But if the courts had common sense, they would have done something that could have been very easy to do and made everybody happy.

46:07If they had common sense, we would not be paying back almost$200 billion in tariffs so stupidly. In many cases, the enemy, the enemy is getting this money. The people that have hated the United States were giving them checks for billions of dollars. It's so sad to see. And it would be nice if the court system and the Supreme Court could have done things a little bit differently. Very sad. Actually, it's very sad. It's called no common sense. And look at the rulings we're getting on illegal immigrants. I mean, they're coming in murderers and everything else. We have a murder, many-time murder. It's really hard to get them out of our country.

46:45But we don't stop. Mr. President, just in terms of putting things together, there are there's a story earlier this week about United potentially wanting to buy American senators from both sides of the aisle have warned that that is a step too far. You should not be putting these two large airlines together. Have you thought about that proposition? I just heard it two days ago and I know them both very well. I don't like it. No, I don't mind mergers. I think I'd love somebody to buy Spirit as an example. You know, Spirit's in trouble. And I'd love somebody to buy Spirit. It's 14 ,000 jobs. And maybe the federal government should help that one out.

47:21You know, I tell my people. But with American, it's doing fine. And United's doing very well. I know the United people, they're doing very well. I don't like having them merge. It's just like all of these aerospace companies, defense companies and aerospace companies. We used to have hundreds of them. And now we have like a very small number. and you get one bid and it makes them lazy. And I came down very hard on them two, three months ago because it takes too long. We have the best equipment in the world. We have the best, you know, the Patriot systems, the Tomahawk systems. We have the best stuff in the world by far.

47:54You know, the other day during this crazy war, we had 111. There's a dispute as to 111 and 101. I want to be exactly accurate with you people because otherwise you'll write stories that I exaggerated. We had 101 or 111. Nobody's able to get it right. But the result was the same. Missile shot at one of our great assets out in that area, a ship. And out of the 111 missile shot, every single one of them were shot down, going at 3000 miles an hour. Right. You know, not easy. It's like a needle in a haste. They used to call it impossible to do. So they go to 3000 miles an hour. And every single one of them was shot down, mostly by patriots.

48:39But every one of them was shot down. Think of it. 111 missiles coming at you. And every one of those missiles is now lying at the bottom of the sea, like the Navy, like the Iran's Navy is lying at the bottom of the sea. It's amazing. But we've got to make it faster. So I have a push. You know, Raytheon took billions of dollars, billions, many billions. I don't even want to tell you how many because I'm embarrassed for stock buybacks instead of buying plants. So I made it illegal for them to do that. No defense company. They have to build new plants. So we have plants. Raytheon now is building five.

49:15They're all building Lockheed's building three or four. They're all building plants because we need speed. We don't want, you know, you order a Patriot and they say, well, have it to you, sir, in three and a half years. We want it in a week. And that's where we are now. They're building plants all over the country. And they're going to do well for doing it. We appreciate all your time. If you have time, I want to ask you one more question. And, you know, we have allies now in the Middle East. Maybe some are we can maybe count on more than allies in other parts of the world. But they're much better allies than they are.

49:49That I can tell you. The UAE asking the U.S. for some type of financial life. I don't know if it's a solvency problem. It's more of a liquidity problem. And I know we did, Secretary Besant did something with Argentina that worked out. Is there some type of swap possible, currency swap with the UAE to help if they need it? And do you think there would be backlash because it's such a wealth, or perceived to be such a wealthy country? Is that under consideration? It is, but it's been a good country. It's been a good ally of ours. And, you know, these are unusual times. They were more than anybody else.

50:27I mean, it was shocking because we thought that they'd shoot missiles at Israel, but not every other country in the area. And, you know, UAE got hit with 1 ,400 missiles. Now, fortunately, they had the Patriots and they had a great defense and they were able to shoot down most of them. But they did get hit hard. They were hit the hardest of the group, actually. And they're really led by incredible people. And, yeah, I mean, I'm surprised because they are really rich. You know, they invested a year ago. I went there and I got them to invest one trillion dollars in the United States. They're building a tremendous plant in a great state called Oklahoma, aluminum plant, melting plant.

51:10Beautiful, incredible top of the it'll be the best anywhere in the world. You know, they're very good for this country. So, yeah, if I could help them, I would. I mean, we're helping them much more with what we're doing with the war, because, you know, the bully of the Middle East was Iran. And Iran was a bully and bullied all of these countries around, and they threatened them all the time. And they threatened about the Hormuz Strait. They threatened sometimes some people call it the Strait of Hormuz, which is actually a more beautiful wording. But they threatened them all the time. And so we're really doing a big job there.

51:45Those five countries have been great, and Israel's been great. Israel's been a great partner for us. It's like they say we're the big brother, they're the small brother, but the small brother's been very helpful to us. You know, they've displayed great courage. And the Saudis? If UAE had a problem, I find it hard to believe, but if they had a problem, I wouldn't be there for them. Are the Saudis impatient now, or are they on the other side? Well, he's another great guy. You know, he gave me the famous line that I used a little bit. He said, a year and a half ago, sir, you were a dead country. Now you're the hottest country anywhere in the world.

52:23He said that to me, and it's true. We were a dead country. We had a guy that wasn't respected. We had a country that was laughed at. He couldn't walk up a flight of stairs. Forget about down. He couldn't walk up a flight. But he was falling all over the place. I have to be careful because if I do trip or fall, it's got to be the biggest. That's why when I get out of those planes, I walk nice and slowly. I'm not looking to set any speed records. but we had an embarrassing country. We had a country that was going to fail. This country would have failed if I didn't win this election. I've had many people tell me that.

52:55Many people that aren't necessarily of the Republican persuasion or MAGA, but we've had many people say that this country would have failed if I didn't win this election. You people wouldn't be looking at the numbers you're looking at right now. The Saudis are not, are they taking it economically on the chin to the point where they want you to end this, or are they saying finish the job? I think they're doing great. I spoke to him yesterday. He wasn't asking for anything. They're fighting. They're helping us. They're helping us on the straight. They're helping us all over. The ones that aren't helping are NATO.

53:29NATO said to me, no, we'll send somebody as soon as it's over. I said, that's not really... We don't need them. We'll never need them, actually. They'll need us. They need us desperately because they're a paper tiger. By the way, I've said that for a long time. Before I was in politics, I used to say. I was not in politics, but I sort of enjoyed it, and I liked watching things. I always said they were a paper tiger. Well, we will look. Europe has to straighten themselves out. Between energy and immigration, they have to straighten themselves out, or they're not going to have a Europe anymore. We could talk NATO, but I know you've obviously got a lot to do.

54:06We will be watching for any true social posts about the negotiations, whether you hear what's happening. But thanks for all your time this morning, Mr. President. We greatly appreciate it. Well, thank you. And Becky, thank you. And Andrew, I'm glad you were on the phone. I'm really glad. Even though Joe totally misrepresented, I don't mind that at all. Thank you, Mr. President. We'll talk soon. He's a kidder. Kidders like the kid. Thank you, Mr. President. Thank you. Thank you very much. We'll talk to you, too.

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