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Good afternoon everybody and welcome. I
guess we don't have enough seats today. Wow.
In the last quarter century, a sitting
president of the United States has come
to Davos only twice.
Both times it was Donald Trump.
So when I asked to be to serve in this
new role that I have, he was one of the
first leaders I called and invited to return.
return.
I first met the president about 25 years
ago, but I worked most closely with him
during the early months of COVID. This
was March 2020. Markets were under
extreme stress. Some economists were
warning we could be headed towards a
second great depression.
What stood out to me during the
extraordinary period was a president's
willingness to bring together people
from governments, from business, across
institutions, across perspective to
think differently and importantly to act decisively.
decisively.
That instinct to act especially in
pivotal moments is one reason I think he
values the World Economic Forum. It is a
unique institution
that brings together the largest
combination of government officials,
business leaders,
technology leaders,
civil society and NGO leaders anywhere
in the world for a genuine dialogue
and particularly
importantly this year.
Thankfully, this group is meeting under
better economic circumstances than
during the pandemic. But once again, we
all we're forcing
very serious different economic
conditions around the world. One of the
central challenges that that is
impacting me
is how capitalism can benefit more and
how can we broaden our global economy
for greater and greater participation.
That is a question where the president
has shown real leadership through
investing in infrastructure,
reducing barriers to growth, and
initiatives like the Trump account
designed to give more Americans a direct
stake in the growth of the US economy.
As he enters the second year of his
second term, we are interested in
hearing his plans for 2026 and beyond,
and will no doubt create more and more
conversation. And that's what the forum
is about. A serious conversation in the
spirit of dialogue. Discussions where
the world is headed. Where are we going?
And these disc discussions would be incomplete
incomplete
without the president of the United
States, the most important leader in the world.
world.
We appreciate him here here. So, let me
introduce and welcome back to Davos the
President of the United States, Donald
Well, thank you very much, Larry. It's
great to be back in beautiful Davos, Switzerland,
Switzerland,
and to address so many respected
business leaders, so many friends, few enemies,
and all of the distinguished guests.
It's a who's who. I will say that.
I've come to this year's World Economic
Forum with truly phenomenal news from America.
America.
Yesterday marked the one-year
anniversary of my inauguration. And
today, after 12 months back in the White
House, our economy is booming, growth is
exploding, productivity is surging,
investment is soaring, incomes are rising.
rising.
Inflation has been defeated. Our
previously open and dangerous border is
closed and virtually impenetrable.
And the United States is in the midst of
the fastest and most dramatic economic
turnaround in our country's history.
Under the Biden administration, America
was plagued by the nightmare of
stagflation, meaning low growth and high
inflation, a recipe for misery, failure,
and decline. But now, after just one
year of my policies, we are witnessing
the exact opposite. virtually no
inflation and extraordinarily high
economic growth. Growth like I believe
you'll see very shortly our country has
never seen before, perhaps no country
has ever seen before. Over the past 3
months, core inflation has been just 1.6%.
1.6%.
Meanwhile, fourth quarter growth is
projected to be
5.4% 4% far greater than anybody other
than myself and a few others had
predicted. Since the election, the stock
market has set 52 all-time high records.
So that's in one year, 52 records,
adding $9 trillion in value to
retirement accounts, 401ks,
and people's savings. People are doing
very well. They're very happy with me.
Since my inauguration, we've lifted more
than 1.2 million people off of food
stamps and after four years in which
Biden secured less than1 trillion
dollars of new investment in our
country. Think of that,1 trillion,
substantially less than that. In four
years, we've secured commitments for a
record-breaking $18 trillion. And we
think when the final numbers come out,
they'll be closer to 20 trillion of investment.
investment.
That's never been done by any country at
any time. Not even close.
Just over one year ago, under the
radical left Democrats, we were a dead country.
country.
Now, we are the hottest country anywhere
in the world.
In fact, the United States economy is on
pace to grow at double the rate that was
projected by the IMF just last April.
And with my growth and tariff policies,
it should be much higher. I really
believe it can be much higher than that.
And this is all great news and it's
great for all nations. The USA is the
economic engine on the planet. And when
America booms, the entire world booms.
It's been the history. When it goes bad,
it goes bad. The whole we all you all
follow us down and you follow us up. And
we're at a point that we've never I
don't believe we've ever been I never
thought we could do it this quickly. My
biggest surprise is I thought it would
take more than a year, maybe like a year
and one month,
but it's happened very quickly. This
afternoon, I want to discuss how we have
achieved this economic miracle, how we
intend to raise living standards for our
citizens to levels never seen before,
and perhaps how you too and the places
where you come from can do much better
by following what we're doing because
certain places in Europe are not even
recognizable, frankly, anymore. They're
not recognizable. And we can argue about
it, but there's no argument. friends
come back from different places. I don't
want to insult anybody and say I don't
recognize it. And that's not in a
positive way. That's in a very negative
way. And I love Europe and I want to see
Europe go good. But it's not heading in
the right direction. In recent decades,
it became conventional wisdom in
Washington and European capitals that
the only way to grow a modern western
economy was through everinccreasing
government spending.
unchecked mass migration and endless
foreign imports. The consensus was that
so-called dirty jobs and heavy industry
should be sent elsewhere, that
affordable energy should be replaced by
the Green New Scam and that countries
could be propped up by importing new and
entirely different populations from far
away lands.
This was the path that sleepy Joe Biden
administration and many other Western governments
governments
very foolishly followed, turning their
backs on everything that makes nations
rich and powerful and strong. And
there's so much potential in so many
nations. The result was record budget
and trade deficits and a growing
sovereign deficit driven by the largest
wave of mass migration in human history.
We've never seen anything like it. Quite
frankly, many parts of our world are
being destroyed before our very eyes.
And the leaders don't even understand
what's happening. And the ones that do
understand aren't doing anything about
it. Virtually all of the so-called
experts predicted my plans to end this
failed model would trigger a global
recession and runaway inflation.
But we have proven them wrong. It's
actually just the opposite. In one year,
our agenda has produced a transformation
like America has not seen in over 100
years. Instead of closing down energy
plants, we're opening them up. Instead
of building ineffective money losing
windmills, we're taking them down and
not approving any.
Instead of empowering bureaucrats, we're
firing them. and they're going out and
getting jobs in the private sector for
two and three times what they were
making in government. So, they started
off hating me when we fired them and now
they love me.
Instead of raising taxes on domestic
producers, we're lowering them and
raising tariffs on foreign nations to
pay for the damage that they've caused.
In 12 months, we have removed over 270,000
270,000
bureaucrats from the federal payrolls.
The largest single-year reduction in
government employment since the end of
World War II.
Nobody thought that was coming, but we
had no choice to make a country great.
You can't have all federal jobs. We've
cut federal spending by $100 billion and
slashed the federal budget deficit by
27% in the single year. It's going to go
down quite a bit more from that. Driving
inflation way down from the record highs
of the Biden administration.
Every month they went up and up and up.
I promised to cut 10 old regulations for every
every
single new regulation. But instead, I've
cut actually till this point
129 regulations for every one new
regulation approved. So every time they
come in with a new regulation,
we do at least 10, but so far it's
averaging out to 129, if you can believe
it. In July, we passed the largest tax
cuts in American history, including no
tax on tips, no tax on overtime, no tax
on social security for our great seniors.
seniors.
We also provided 100% expensing. That's
the one they like. And bonus
depreciation for all new equipment and
capital investments to help companies
expand and shift production to America.
They are
so in love with it. They build a plant,
they're able to deduct it immediately,
the whole thing rather than waiting 38
to 41 years in the old days. This is a
miracle taking place. Nobody thought it
would ever be done by any country, but
it's done by us. Was what made my first
term the most successful four-year term
that we've ever had from a financial
standpoint. And now we've upped it. This
is a 10-year program, not a one-year
program, but you're allowed to deduct
everything in one year. Used to be 38 to
41 years. With tariffs, we've radically
reduced our ballooning trade deficit,
which was the largest in world history.
We were losing more than1 trillion
dollars every single year. And it was
just wasted. It was going to waste. But
in one year, I slashed our monthly trade
deficit by a staggering 77%.
And all of this with no inflation,
something everyone said could not be
done. There were a couple of brilliant
people that actually thought I was doing
the right thing. I thought I was doing
the right thing. Now they all think I'm
doing the right thing because they can't
believe the numbers. American exports
are now up by more than 150 billion
dollars. Domestic steel production is up
by 300,000 tons a month and it's
doubling over the next four months. It's
doubling and tripling and we have steel
plants being built all over the country.
Nobody thought they'd see that. Factory
construction is up by 41%. And that
number is really going to skyrocket
right now because that's during a
process that they're putting in to get
their approvals. And we've given very,
very quick, fast approvals. In the
process, we've made historic trade deals
with partners covering 40% of all US
trade. Some of the greatest companies
and countries in the world. We have
countries as our partner, too. the
European nations, Japan, South Korea,
they're our partners. They've gone into
massive deals with us, especially on oil
and gas. And these agreements raise
growth and cause stock markets to boom,
not only in the US, but virtually every
country that came to make a deal because,
because,
as you've learned, when the United
States goes up, you follow. It's really
become a staple in America. I've stopped
the nationwrecking energy policies that
drive up prices while sending jobs and factories
factories
to the world's worst polluters. They are
indeed polluters under sleepy Joe Biden.
New domestic oil and gas leases fell by
95%. Think of that. Then they wonder why
was gasoline going up so fast.
The gasoline actually topped $5 a gallon
and some places $7 a gallon and more
than 100 major power plants were
violently shut down by incompetent
people that had no idea what the hell
they were doing.
Under my leadership, US natural gas
production is at an all-time high by
far. US oil production is up by 730,000
barrels a day. And last week, we picked
up 50 million barrels from Venezuela alone.
alone.
Venezuela has been an amazing
place for so many years, but then they
went bad with their policies. 20 years
ago, it was a great country, and now
it's got problems, but we're helping
them. And those 50 million barrels,
we're going to be splitting up with them
and they'll be making more money that
they've made it a long time. Venezuela
is going to do fantastically well. We
appreciate all of the cooperation we've
been giving. We've been given great
cooperation. Once the attack ended, the
attack ended and they said, "Let's make
a deal. More people should do that."
But Venezuela is going to make more
money in the next 6 months than they've
made in the last 20 years.
Every major oil company is coming in
with us. It's amazing. It's a beautiful
thing to see. The leadership of the
country has been uh very good. They've
been very very smart. The price of
gasoline is now below $2.50 50 cents a
gallon in many states, $230
a gallon in most states, and we'll soon
be averaging less than $2 a gallon. In
many places, it's already down even
lower, $1.95 a gallon. Numerous states
are at $1.99.
Numbers that nobody has heard for years.
Actually, since my last administration,
we got it down to around those numbers.
I've signed an order directing an
approval of many new nuclear reactors.
We're going heavy into nuclear. I was
not a big fan because I didn't like the
risk, the danger, but they have the what
the progress they've made with nuclear
is unbelievable. And the safety progress
they've made is incredible. We're very
much into the world of nuclear energy.
And we can have it now at good prices
and very, very safe. And we're leading
the world in AI by a lot. We're leading
China by a lot. I think President Xi
respects what we've done in part because
I've allowed these big companies
building these massive buildings to
build their own electric capacity.
They're building their own power plants,
which when added up is more than any
country anywhere in the world is doing.
I read recently an article in the Wall
Street Journal that China's creating so
much energy, and they are. I got to hand
it to them. But we're creating as much
or more and we're letting them do that.
I'm very proud of it. It was my idea. I
said, "You can't create this much
energy. We needed more than double the
energy currently in the country just to
take care of the AI plants." And they
said, "We can't do that. We have an old
grid system." And I came up with the
idea, you know, you people are
brilliant. You have a lot of money.
Let's see what you can do. you can build
your own electric generating plants. And
they looked at me, they didn't believe
me. All of the names that are in, I
think, in the room right now, if you
want to know the truth, they didn't
believe it. And I said, "No, no, you
can't." They came back two weeks and
they didn't have the plant. They said,
"We thought you were kidding." I said,
"No, not only am I not kidding, you're
going to have your approvals within two
weeks." I always say nuclear will
nuclear will take three weeks,
but most aren't going that. They're
going oil and gas. They're even going
coal in some cases.
Because of my landslide election
victory, the United States avoided the
catastrophic energy collapse which
befell every European nation that
pursued the Green New Scam. Perhaps the
greatest hoax in history. The Green New
Scam. Windmills all over the place.
Destroy your land. Destroy your land.
Every time that goes around, you lose $1,000.
$1,000.
You're supposed to make money with
energy, not lose money.
Here in Europe, we've seen the fate that
the radical left tried to impose on
America. They tried very hard. Germany
now generates 22% less electricity than
it did in 2017.
And it's not the current
chancellor's fault. He's solving the
problem. He's going to do a great job.
But what they did before he got there, I
guess that's why he got there.
And electricity prices are 64% higher.
The United Kingdom produces just
onethird of the total energy from all
sources that it did in 1999. Think of
that one-third.
And they're sitting on top of the North
Sea, one of the greatest reserves
anywhere in the world. But they don't
use it. And that's one reason why their
energy has reached catastrophically
low levels with equally high prices.
High prices, very low levels. Think of
that one-third
and you're sitting on top of the North
Sea. And they like to say, well, you
know, that's depleted. It's not
depleted. It's got 500 years. They
haven't even found the oil. The North
Sea is incredible. They don't let
anybody drill environmentally. They
don't let them drill. They make it
impossible for the oil companies to go.
They take 92%
of the revenues. So the old companies
said we can't do it. They came to see
me. Is there anything you can do? I want
I want Europe to do great. I want UK to
do great.
Sitting on one of the greatest energy
sources in the world and they don't use it.
it.
In fact, their electricity prices have soared
soared 139%.
139%.
There are windmills all over Europe.
There are windmills all over the place
and they are losers.
One thing I've noticed is that the more
windmills a country has, the more money
that country loses and the worse that
country is doing. China makes almost all
of the windmills.
And yet I haven't been able to find any
wind farms in China. Did you ever think
of that? It's a good way of looking at
they're smart. China is very smart. They
make them. They sell them for a fortune.
They sell them to the stupid people that
buy them, but they don't use them
themselves. They put up a couple of
big wind farms, but they don't use them.
They just put them up to show people
what they could look like. They don't
spin. They don't do anything. They use a
thing called coal mostly. But China goes
with the coal. They go with oil and gas.
They're starting to look at nuclear a
little bit and they're doing just fine.
They make a fortune selling the
windmills. So, and I think really that's
one that they wouldn't be surprised if
it stopped. They would they are shocked
that it continues to go. They're more
very friendly with me. They're shocked
that people continue to buy those damn
things. They killed the birds. They ruin
your landscapes. Other than that, I
think they're fabulous. By the way,
stupid people buy them. The consequences
of such destructive policies have been
stark, including lower economic growth,
lower standards of living, lower birth
rates, more socially disruptive
migration, more vulnerability to hostile
foreign adversaries and much, much
smaller militaries.
The United States cares greatly about
the people of Europe. We really do. I
mean, look, I I am derived from Europe.
Scotland and Germany, 100%
100%
Scotland, my mother, 100% German, my
father. And we believe deeply in the
bonds we share with Europe as a
civilization. I want to see it do great.
That's why issues like energy, trade,
immigration, and economic growth must be
central concerns to anyone who wants to
see a strong and united West because
Europe and those countries have to do
their thing. They have to get out of the
culture that they've created over the
last 10 years. It's horrible what
they're doing to themselves. They're
destroying themselves. These beautiful,
beautiful places. We want strong allies,
not seriously weakened ones. We want
Europe to be strong. Ultimately, these
are matters of national security and
perhaps no current issue makes the
uh situation more clear than what's
currently going on with Greenland. Would
you like me to say a few words of Greenland?
Greenland?
I was going to leave it out of the
speech, but I thought I think I would
have been reviewed very negatively.
I have tremendous respect for both the
people of Greenland and the people of
Denmark. Tremendous respect.
But every NATO ally has an obligation to
be able to defend their own territory.
And the fact is, no nation or group of
nations is in any position to be able to
secure Greenland other than the United
States. We're a great power, much
greater than people even understand. I
think they found that out two weeks ago
in Venezuela.
We saw this in World War II when Denmark
fell to Germany after just six hours of
fighting and was totally unable to
defend either itself or Greenland. So
the United States was then compelled, we
did it, we felt an obligation to do it,
to send our own forces to hold the
Greenland territory. And hold it we did
at great cost and expense. They didn't
have a chance of getting on it and they tried.
tried.
Denmark knows that. We literally set up
bases on Greenland for Denmark.
We fought for Denmark. We weren't
fighting for anyone else. We were
fighting to save it
for Denmark. Big beautiful piece of ice.
It's hard to call it land. It's a big
piece of ice.
But we saved Greenland and successfully
prevented our enemies from gaining a
foothold in our hemisphere. So we did it
for ourselves also. And then after the
war, which we won, we won it big.
Without us right now, you'd all be
speaking German and a little Japanese perhaps.
perhaps.
After the war, we gave Greenland back
to Denmark. How stupid were we to do
that? But we did it. But we gave it
back. But how ungrateful are they now?
So now our country
and the world face much greater risks
than it did ever before because of
missiles, because of nuclear, because of
weapons of warfare that I can't even
talk about.
Two weeks ago, they saw weapons that
nobody ever heard of. They weren't able
to fire one shot at us. They said, "What
happened?" Everything was discombobulated.
discombobulated.
They said, "We've got them in our
sights. Press the trigger." And nothing happened.
happened.
No anti-aircraft
missiles went up. There was one that
went up about 30 ft and crashed down
right next to the people that sent it.
They said, "What the hell is going on?" Those
Those
those defensive systems were made by
Russia and by China.
So, they're going to go back to the
drawing boards. I guess Greenland is a
vast, almost entirely uninhabited and
undeveloped territory
that's sitting undefended
in a key strategic location between the
United States, Russia, and China. That's
exactly where it is, right smack in the
middle. Wasn't important nearly when we
gave it back. You know, when we gave it
back, wasn't the same as it is now. It's
not important for any other reason, you
know, to everyone talks about the
minerals. There's so many play there's
no rare earth. No such thing as rare
earth. There's rare processing, but
there's so much rare earth and this to
get to this rare earth. You got to go through
through
hundreds of feet of ice. That's not the
reason we need it. We need it for
strategic national security and
international security. This enormous
unsecured island is actually part of
North America on the northern frontier
of the Western Hemisphere. That's our territory.
territory.
It is therefore a core national security
interest of the United States of
America. And in fact, it's been our
policy for hundreds of years to prevent
outside threats from entering our
hemisphere. And we've done it very
successfully. We've never been stronger
than we are now. That's why American
presidents have sought to purchase
Greenland for nearly two centuries. You
know, for two centuries, they've been
trying to do it. They should have kept
it after World War II, but they had a
different president. That's all right.
People think differently.
Much more necessary now than it was at
that time, however. In 2019, Denmark
said that they would spend over $200
million to strengthen Greenland's defenses.
defenses.
But as you know, they spent less than 1%
of that amount. 1%. There's no sign of
Denmark there. And I say that with great
respect for Denmark, who whose people I
love, whose leaders are very good.
It's the United States alone that can
protect this giant mass of land, this
giant piece of ice, develop it, and
improve it and make it so that it's good
for Europe and safe for Europe and good
for us. And that's the reason I'm
seeking immediate negotiations to once
again discuss the acquisition of
Greenland by the United States just as
we have acquired many other territories
throughout our history as many of the
European nations have. They've acquired
there's nothing wrong with it. Many of
them some went in reverse actually if
you look some had great vast wealth
great vast lands all over the world.
They went in reverse. They're stuck back
where they started. That happens, too.
But some grow.
But this would not be a threat to NATO.
This would greatly enhance the security
of the entire alliance. The NATO
alliance. The United States is treated
very unfairly by NATO. I want to tell
you that.
And when you think about it, nobody can
dispute it. We give so much and we get
so little in return.
And I've been a critic of NATO for many
years. And yet I've done more to help
NATO than any other president by far,
than any other person. You wouldn't have
NATO if I didn't get involved in my
first term. The war with Ukraine is an
example. We are thousands of miles away,
separated by a giant ocean.
It's a war that should have never
started, and it wouldn't have started if
the 2020 US presidential election
weren't rigged. It was a rigged
election. Everybody now knows that they
found out.
People will soon be prosecuted for what
they did.
It's probably breaking news, but it
should be. It was a rigged election.
Can't have rigged elections. You need
strong borders, strong elections, and
ideally a good press. I always say it.
Strong borders, strong elections, free,
fair elections, and a fair media. The
media is terrible. It's very
crooked. It's very biased, terrible, but
someday it'll straighten out because
it's losing all credibility. Think of
it. When I win in a landslide, a giant
landslide, won all seven swing states,
won the popular vote, won everything.
And they only get negative press. That
means that it has no credibility.
And if they're going to get credibility,
they're going to have to be fair. So,
you need a fair press,
but you also need those other elements.
And uh I inherited a terrible, terrible
situation. If you look, the border was
open. The inflation was raging.
Everything was bad with the United
States when I came into office. But I
also inherited a mess with Ukraine and
Russia. Something that would have never
happened. And I know Putin very well. He
and I would discuss Ukraine. It was the
apple of his eye. But he wasn't going to
do anything. I said, "Vladimir, you're
not doing it." He would never have done
it. It was terrible what happened. I
could see it happening too. After I
left, I could see it happening.
Biden had given Ukraine and NATO $350
billion, a staggering sum. $350 billion.
I came in and just like the southern border,
border,
just like inflation, just like our
economy, I said, "Wow,
this place is in trouble." Meaning our
country. All of these things were out of control.
control.
But the border was out of control. We
fixed it with the strongest border
anywhere in the world. And I've now been
working on this war for one year during
which time I settled eight other wars.
India, Pakistan. I mean, I settled other
wars that were Vladimir Putin called me, Armenia,
Armenia,
Abber, Baan.
He said, "I can't believe you settled
that one. They were going on for 35
years. I settled it in one day.
Then President Putin called me. He said,
'You know, I can't believe I've worked
on that war for 10 years trying to
settle it. I couldn't do it. I said, '
Do me a favor. Focus on settling your
war. Don't worry about that one.
What does the United States get out of
all of this work, all of this
money other than death, destruction, and
massive amounts of cash
going to people who don't appreciate
what we do? They don't appreciate what
we do. talking about NATO. I'm talking
about Europe.
They have to work on Ukraine. We don't.
The United States is very far away. We
have a a big beautiful ocean separating
us. We have nothing to do with it. Until
I came along, NATO was only supposed to
pay 2% of GDP.
But they weren't paying. Most of the
countries weren't paying anything. The
United States was paying for virtually
100% of NATO.
And I got that stopped. I said that's
not fair.
But then more importantly, I got NATO to
pay 5% and now they were paying and now
they are paying. So something nobody
said was possible. They said we will
never go up higher than 2%.
But they went to 5% and now they're
paying the five. They didn't pay the two
and now they're paying the five and
they're stronger for it. And they have
an excellent, by the way, secretary
general who's possibly in the room.
Mark, are you here?
Yes, he's here. Hello, Mark.
We never asked for anything
and we never got anything. We probably
won't get anything unless I decide to
use excessive strength and force where
we would be frankly unstoppable.
But I won't do that.
Okay, now everyone's saying, "Oh, good."
That's probably the biggest statement I
made because people thought I would use
force. I don't have to use force. I
don't want to use force. I won't use force.
force.
All the United States is asking for is a
place called Greenland where we already
had it as a trustee, but respectfully
returned it back to Denmark not long ago
after we defeated the Germans, the
Japanese, the Italians, and others in
World War II. We gave it back to them.
We were a powerful force then, but we
are a much more powerful force now.
After I rebuilt the military in my first
term and continue to do so today, we
have a budget of $1.5 trillion.
We're bringing back battleships.
The battleship is 100 times more
powerful than the great battleships you
saw in World War II. Those great big
gorgeous ships, the Missouri, the Iowa,
the Alabama.
because I thought maybe we could take
them out of mothballs. They said, "No,
sir. These ships are 100, think of that,
100 times more powerful than those big,
big, magnificent pieces of art that you
saw so many times ago that you still see
on television, you say, "Wow, what a
force." 100 times each ship 100 times
more powerful than the big battleships
of the past. So that was the end of the
mothball story.
So what we have gotten out of NATO
is nothing except to protect Europe from
the Soviet Union and now Russia. I mean
we've helped them for so many years.
We've never gotten anything except we
pay for NATO and we paid for many years
until I came along. We paid for in my
opinion 100% of NATO because they
weren't paying their bills. And all
we're asking for is to get Greenland
including right title and ownership
because you need the ownership to defend
it. You can't defend it on a lease.
Number one, legally it's not defensible
that way totally. And number two,
psychologically, who the hell wants to
defend a license agreement or a lease,
which is a large piece of ice in the
middle of the ocean where if there is a
war, much of the action will take place
on that piece of ice. Think of it. Those
missiles would be flying right over the
center of that piece of ice.
All we want from Denmark
for national and international security
and to keep our very energetic and
dangerous potential enemies at bay is
this land on which we're going to build
the greatest golden dome ever built.
We're building a golden dome that's
going to just by its very nature
going to be defending Canada.
Canada gets a lot of freebies from us by
the way. They should be grateful also,
but they're not. I watched your prime
minister yesterday. He wasn't so
grateful. But they should be grateful to
us. Canada
lives because of the United States.
Remember that, Mark, the next time you
make your statements.
What we did for Israel was amazing.
But that's nothing compared to what we
have planned for the United States,
Canada, and the rest of the world. We
are going to build a dome like no other.
We did it. We did it for Israel. And by
the way, I told BB BB, "Stop taking
credit for the dome. That's our
technology. That's our stuff." But they
had a lot of courage and they were good
fighters and they did a good job. And we
wiped out the Iran nuclear threat like
nobody can believe. Nobody's ever seen
anything like it. That Venezuela taking
down Salamani
wiping out al Baghdaddy when he tried to
reinstitute ISIS. We did a lot. I did a
lot a lot of big things. All perfectly
executed. Everyone was perfectly
executed. Somebody told me that a
military expert told me, "Sir,
everything you've done has been
perfectly executed." I said, "I know."
So other presidents have spent, whether
foolishly or not, trillions and
trillions of dollars on NATO and gotten
absolutely nothing in return. We've
never asked for anything. It's always a
one-way street. Now they want us to help
them with Ukraine. And let me say we're
going to I'm really helping not even
them. I want to see last week. If you
saw it was 10,000 soldiers, but last
month it was 31,000
soldiers died. 31,000
that's this room times
the number of people in this room times 30.
30.
Think of it. 30,000 soldiers
died in one month. The month before it
was 27,000. The month before that it was
28,000. The month before that it was
25,000. It's a bloodbath
over there.
And that's what I want to stop. Doesn't
help the United States. But these are
souls. These are young
young people look like you look like
some of you right in the front row. They
go to war. Their parents are so proud.
Oh, there he goes. Comes back. Two weeks
later, they get a call. Your son's
head's been blown off. I want to stop
it. It's a horrible war. It's the worst
since World War II.
They keep going. They'll exceed World
War II. The numbers are staggering how
many people they've lost. They don't
want to talk about it. Ukraine and
Russia lost just tremendous amounts.
And I'm dealing with President Putin and
he wants to make a deal. I believe I I'm
dealing with President Zalinsky and I
think he wants to make a deal. I'm
meeting him today. He might be in the
audience right now. But uh they got to
get that war stopped
because too many people are dying
needlessly dying. Too many souls are
being lost. It's the only reason I'm
interested in doing it. But in doing it,
I'm helping Europe. I'm helping NATO.
When I and I've until the last few days
when I told them about Iceland, they
loved me.
They called me daddy right last time.
Very smart man said, "He's our daddy.
He's running it." I was like running it.
I went from running it to being a
terrible human being.
But now what I'm asking for is a piece
of ice, cold and poorly located that can
play a vital role in world peace and
world protection.
It's a very small ask
compared to what we have given them for
many many decades.
But the problem with NATO is that we'll
be there for them 100%.
But I'm not sure that they'd be there
for us if we gave them the call.
Gentlemen, we are being attacked. We're
under attack by such and such a nation.
I know them all very well. I'm not sure
that they'd be there. I know we'd be
there for them. I don't know that they'd
be there for us. So, with all of the
money we expend, with all of the blood,
sweat, and tears, I don't know that
they'd be there for us. They're not
there for us on Iceland. That I can tell
you. I mean, our stock market took the
first dip yesterday because of Iceland.
So, Iceland's already cost us a lot of
money. But that dip is peanuts compared
to what it's gone up. And we have an
unbelievable future in that stock. That
stock market is going to be doubled.
We're going to hit 50,000. And that
stock market's going to double in a
relatively short period of time because
of everything that's happening. But this
is a good example. After giving
NATO and European nations trillions and
trillions of dollars in defense, they
buy our weapons. We make the greatest
weapons in the world. But now we're
going to make them faster, much faster.
You saw that. I put a cap on the
salaries. Then I put no buybacks, no
stock buybacks,
no various other things that they were
doing. I mean, they were making $50
million, but it would take him three
years to give you a Patriot missile. I
said, 'Th That's not good. You, my
chauffeur can do a better job than that,
and he makes slightly less than 50. They
make big salaries. If they're going to
make those big salaries, they're going
to have to produce a lot faster. The
good news is we have the greatest
equipment in the world. Now, we're going
to start making it a lot faster. They're
going to build additional plants. And
all of the money that goes into stock
buybacks is going to go into building
plants. We're not allowing stock
buybacks by defense companies any
longer. They're going to build new
plants to make tomahawks, Patriots. We
have the best equipment. F-35s,
F-47, the new one just coming out. They
say it's the most devastating plane
fighter jet ever. Who knows? They called
it 47. If I don't like it, I'm going to
take the 47 off it. I wonder why they
called it 47. We'll have to think about
that. But if I don't like it, I'm going
to take that 47 off. But it's supposed
to be the stage six. It's supposed to be
the first stage six plane. Undetectable.
Like our B2 bombers were undetectable.
They flew right over Iran. They were undetectable
undetectable
and they did their job and they got the
hell out of there.
So, we want a piece of ice for world protection
protection
and they won't give it. We've never
asked for anything else and we could
have kept
that piece of land and we didn't. So
they have a choice. You can say yes and
we will be very appreciative or you can
say no and we will remember.
A strong and secure America means a
strong NATO. And that's one reason why
I'm working every day to ensure our
military is very powerful. Our borders
are very strong. And above all, our
economy is strong because national
security requires economic security and
economic prosperity. And we have the
greatest that we've ever had.
Biden and his allies destroyed our
economy and gave us perhaps the worst
inflation in American history. They say
48 years. I say forever, but I think 48
years is the equivalent to forever.
Whether it's 48 years
or ever, it's terrible. Costing the
typical family $33,000.
What they did to this country should
never ever be forgotten.
It's early, but he has to be rated as
the worst president we've ever had by
far. The autopen did many of the much of
the damage. The auto pen, he was the
autopen president because I don't
believe a sane president would have ever
signed the kind of things that he
signed. But now grocery prices, energy
prices, airfares, mortgage rates, rent
and car payments are all coming down and
they're coming down fast. We inherited a mess.
mess.
But we've done a hell of a job in 12
months. Under my most favored nation
policy for drug prices, the cost of
prescription drugs is coming down by up
to 90% depending on the way you
calculate. You could also say 5 6 7
800%. There are two ways of figuring that.
that.
But we have a favored nations
policy that every president wanted. No
president was able to get. I got it and
other nations approved it. And I had to
use tariffs in order to get it because
they said no way. In other words, a pill
that cost 10% in London cost $130.
Think it cost $10
in London cost $130
in New York or in Los Angeles.
And I'd say, "Boy, that's bad." Friends
of mine would say, you know, we go to
London, you can buy the stuff for
nothing. we go all over the world, we
could buy it for nothing because
basically America was subsidizing every
nation in the world because presidents
allowed them to get away with it. It
became very tough. So when I called up
Emmanuel Mcronone, I watched him
yesterday with those beautiful sunglasses.
sunglasses.
But I watched him sort of
be tough,
but he was at $10 for a pill and I said,
"Emmanuel," and I have the all the big
pharmaceutical companies are in total
agreement. It wasn't easy, by the way.
They're tough, smart. They've been
getting away with the scam for a long
time, but they they gave it up. But they
said, "You'll never get the countries to
approve it." I said, "Why is that?"
Because they won't. They always said,
"We're not paying anymore. get the rest
for the United States. So over the years
they stayed the same. We just went up up
up and I mean we would pay 13 14 15
times more than certain countries would.
So I said, "No, they'll approve it
100%." Sir, you'll never get them to
approve it. I said, "I guarantee you."
But I actually started with Emmanuel,
who probably is in the room, too. And I
like them. I actually like them. Hard to
believe, isn't it?
And I said, "Emmanuel,
you're going to have to lift the price
of that pill
to $20, maybe $30." Think of that.
That's That means it's a doubling.
A doubling of prescription drugs. Might
be a tripling, might be a quadrupling.
It's not easy. No, no, no, Donald. I
will not do that. I said, "Yes, you will 100%."
100%."
He said, "No, no, no.
you're asking me to double. I said,
Emmanuel, you've been taking advantage
of the United States for 30 years with
prescription drugs. You really should do
it. And you will do it. I have no doubt.
In fact, I am 100% sure you're going to
No, no, no, I will not do it because he
has in all fairness, he has to double
or triple because the world being a
bigger place in the United States, it's
not that you meet in the middle. You
just have to go up some. And we come
down a lot. They go up a little, we come
down a lot. So, we're at $130. They're
at 10. So, they may have to go to 20 or
30. No more than that. I said,
"Emmanuel, you're going to be doubling
or tripling." "No, no, no." I said,
"Here's the story, Emanuel. The answer
is you're going to do it. You're going
to do it fast. And if you don't, I'm
putting a 25% tariff on everything that
you sell into the United States and a
100% tariff on your wines and champagnes."
champagnes."
And that's about 10 times more than what
I'm requesting.
And you're going to do it. I don't want
to go public with it, but you may make
me do that. No, no, Donald. I will do it.
it.
I will do it.
It took me on average three minutes a country.
country.
Saying the same thing, you will do it.
They all said, "No, no, no. I will not
do it. You're asking me to double the
cost of prescription." I said, "That's
right. because you've been screwing us for
for
30 years.
And they said, "We will not do it." I
said, "That's all right." On Monday
morning, we're putting a 25, 30, 50. I
gave different numbers for
different countries.
This is also national security we're
talking about. Can't not fair. We're not
going to subsidize the whole world.
And every one of those countries have
agreed to do it. So one of the biggest
things that I've done is the fact that
we have now most favored nation. We will
pay whatever the lowest price is in the
entire world.
So our drug prices are going to be
coming down by staggering 90%. Again,
you could say a,000% 2,000%. depends on
the way you want to figure it. But we'll
go with the way the fake news likes it
better because it sounds, can you
imagine a 90% reduction? Sounds much worse.
worse.
But drug prices are going to be coming
down tremendously in all the nations.
And I appreciate them doing it, but they
did it. In all fairness, without
tariffs, I wouldn't have been able to
get it done. After declining $3,000 under
under Biden,
Biden,
real incomes are up in the United States
by 2,000, 3,000, and even $5,000 and
more. Homeownership has always been a
symbol of health and vigor of American
society. But that goal fell out of reach
for millions and millions of people in
the Biden era because interest rates
went up so high. Today, I'm taking
action to bring back this bedrock of the
American dream. In recent years, Wall
Street giants and institutional
investment firms, many of you are here,
many of you are good friends of mine,
many of you are supporters. Sorry to do
this. I'm so sorry. But you've driven up
housing prices by purchasing hundreds of
thousands of single family homes. And
it's been a great investment for them.
Often as much as 10% of houses on the
market. You know, the crazy thing is a
person can't get depreciation on a
house, but when a corporation buys it,
they get depreciation. Okay, that's
something we're going to have to think
about. Do I don't know if too many
people think about that. You buy a
corporation, they buy 500 houses, they
buy hundreds of thousands, they buy 500
houses, they can take depreciation.
A person sweats and works and buys one
house, they can't. But homes are built
for people, not for corporations. and
America will not become a nation of
renters. We're not going to do that.
That's why I have signed an executive
order banning large institutional
investors from buying single family
homes. It's just not fair to the public.
They're not they're not able to buy a
house. And I'm calling on Congress to
pass that ban into permanent law and I
think they will. One of the biggest
barriers to saving for a down payment
has been surging credit card debt. The
profit margin for credit card companies
now exceeds 50%, one of the biggest. And
they charge Americans interest rates of
28% 30% 31% 32%. What have happened to usery?
usery?
So to help our citizens recover from the
Biden disaster all caused by this
horrible just horrible president,
I'm asking Congress to cap credit card
interest rates at 10% for one year.
And this will help millions of Americans
save for a home. They have no idea
they're paying 28%. They go out, they're
a little late in their payment and they
end up losing their house.
It's terrible. To unleash innovation and
savings and financing, I'm also working
to ensure America remains the crypto
capital of the world. And to that end,
last year I signed a landmark Genius Act
into law. Now, Congress is working very
hard on crypto market structure legislation,
legislation,
Bitcoin, all of them, which I hope to
sign very soon, unlocking new pathways
for Americans to reach financial
freedom. And I did it for two reasons.
Number one, I thought it was politically
good and it was. I got tremendous
political report support. But more
importantly, China wanted that market,
too. It's just like they want the AI and
we've got that market, I think, pretty
well locked up. If I didn't do it, you
know, Biden was totally against it until
before the election when they realized
that, you know, there were millions of
people voting against him over crypto
and all of a sudden they loved it very
much, but it was too late. They blew it.
But it is politically popular. But it's
it's much more importantly we have to
make it so that China doesn't get the
hold of it. And once they have that
hold, we're not going to be able to get
it back. So I'm honored to have done it.
Finally, I've instructed
governmentbacked institutions to
purchase up to $200 billion in mortgage
bonds to bring down interest rates. And
I'll be announcing a new Fed chairman in
the not too distant future. I think
he'll do a very good job. See, I gave
away some of it. He
did give that away. So, we have
something. You got something. But
somebody that's very respected. They're
all respected. They're They're all
great. Everyone that I interviewed is
great. Everyone could do, I think, a
fantastic job. Problem is, they change
once they get the job. They do. You
know, they're saying everything I want
to hear. And then they get the job,
they're locked in for six years. They
get the job and all of a sudden, let's
raise rates a little bit. I call them
sir. We'd rather not talk about this.
It's amazing how people change once they
have the job, but it's too bad. Sort of
disloyalty, but they got to do what they
think is right. We have a terrible
chairman right now. Jerome too late.
Powell, he's always too late. And uh
he's very late with interest rates
except before the election. He was just
fine for the other side. So, we uh we're
going to have somebody that's great and
we hope he does the right job. Last
week, the average 30-year mortgage rate
dropped below 6% for the first time in
many years. Another major factor in
driving up housing costs was the mass invasion
invasion
of our borders. And and I have to say
one thing about housing because nobody
ever says this. Um I am very protective
of people that already own a house,
of which we have millions and millions
and millions. And because we have had a
such a good run, the house values have
gone up tremendously.
And these people have become wealthy.
They weren't wealthy. They become
wealthy because of their house.
And every time you make it more and more
and more affordable for somebody to buy
a house cheaply, you're actually hurting
the value of those houses obviously
because the one thing works in tandem
with the other. And I don't want to do
anything that's going to hurt the value
of people that own a house who for the
first time in their lives are walking
around the streets of whatever city
they're in very proud that their house
is worth 500600 700,000.
700,000.
Now if I want to really crush the
housing market, I could do that so fast
and people could buy houses. But you
would destroy a lot of people that
already have houses. In some cases,
they've mortgaged their house and the
mortgage would be very low and all of a
sudden the mortgage without any changes
becomes very high and they end up losing
the house. I'm not going to hurt. And I
speak with Scott who's doing a fantastic
job and Howard who's doing a fantastic
job and all of my people and I always
say, look, you know, I can crush the
hell out of the market. We can drop
interest rates to a level and that's one
thing we do want to do. That's natural.
That's good for everybody. you know, the
dropping of the interest rates, we
should be paying a much lower interest
rate than we are. We should we should be
paying the lowest interest rate of any
country in the world because without the
United States, you don't have a country.
I mean, I had a case with Switzerland.
We happened to be in Switzerland. Maybe
I'll give you a quick story, but they
were paying nothing. They make beautiful
watches, great watches, Rolex, all of
them. They were paying nothing to the
United States when they sent their
product in. And we had a
$ 41 billion deficit. 41 billion with
this beautiful place. Flew over it.
Isn't it nice?
So I said, "Let's put a 30% tariff on
them so that we get back some of it. Not
all of it at all. We still have a
deficit. Big deficit. We had 40 41 million.
million.
That's a big deficit." And I said, "Uh,
let's put a tariff on different tariffs, different places. y
different tariffs, different places. y old party to them. Some cases victims to
old party to them. Some cases victims to them, but in the end it's a fair thing
them, but in the end it's a fair thing and most of you realize that. But we put
and most of you realize that. But we put a 30%
a 30% tariff on Switzerland
tariff on Switzerland and all hell broke loose.
and all hell broke loose. They were calling. I mean like you
They were calling. I mean like you wouldn't believe. And I know so many
wouldn't believe. And I know so many people from Switzerland. Incredible
people from Switzerland. Incredible place. Incredible. Brilliant place.
place. Incredible. Brilliant place. But I then realized that we're they're
But I then realized that we're they're only good because of us. And there's so
only good because of us. And there's so many other examples. I mean, us probably
many other examples. I mean, us probably other places, but a majority of the
other places, but a majority of the money they make is because of us because
money they make is because of us because we never charge them anything. So they
we never charge them anything. So they come in, they sell their watches, no
come in, they sell their watches, no tariffs, no nothing. They walk away,
tariffs, no nothing. They walk away, they make 41 billion dollars
they make 41 billion dollars on just us.
on just us. So I said, "No, we can't do that." So
So I said, "No, we can't do that." So I'm going to bring it up. I still would
I'm going to bring it up. I still would have a deficit pretty substantial but I
have a deficit pretty substantial but I brought it up to 30%. And the
brought it up to 30%. And the I guess prime minister I don't think
I guess prime minister I don't think president I think prime minister called
president I think prime minister called a woman and she was very repetitive.
a woman and she was very repetitive. She said no no no you cannot do that
She said no no no you cannot do that 30%. You cannot do that. We are a small
30%. You cannot do that. We are a small small country. I said yeah but you have
small country. I said yeah but you have a big big deficit. you may be small but
a big big deficit. you may be small but you have a bigger deficit than big
you have a bigger deficit than big countries. He said, "No, no, no, please,
countries. He said, "No, no, no, please, you cannot do it." Kept saying the same
you cannot do it." Kept saying the same thing over and over. We are a small
thing over and over. We are a small country. He said, "But you're a big
country. He said, "But you're a big country in terms of" And she just rubbed
country in terms of" And she just rubbed me the wrong way. I'll be honest with
me the wrong way. I'll be honest with you. And I said, "All right. Thank you,
you. And I said, "All right. Thank you, ma'am. Appreciate it. Do not do this.
ma'am. Appreciate it. Do not do this. Thank you very much, ma'am." And I made
Thank you very much, ma'am." And I made it 39%.
it 39%. And then all hell really broke out and I
And then all hell really broke out and I was paid visits by everybody. Rolex came
was paid visits by everybody. Rolex came to see me. They all came to see me. But
to see me. They all came to see me. But I realized and I reduced it because I
I realized and I reduced it because I don't want to hurt people. I don't want
don't want to hurt people. I don't want to hurt them. And we brought it down to
to hurt them. And we brought it down to a, you know,
a, you know, lower level. Doesn't mean it's not going
lower level. Doesn't mean it's not going up, but we brought it down to a lower
up, but we brought it down to a lower level. But they pay now tariff. But but
level. But they pay now tariff. But but I realized that
I realized that we have many places like that where
we have many places like that where they're making a fortune because of the
they're making a fortune because of the United States. Without the United
United States. Without the United States, they wouldn't be making
States, they wouldn't be making anything. Think of it, Switzerland made
anything. Think of it, Switzerland made $41 billion on us. And as she said, it's
$41 billion on us. And as she said, it's a small place.
a small place. And I realized with that I don't know I
And I realized with that I don't know I was so because she was so aggressive
was so because she was so aggressive and I realized in that conversation that
and I realized in that conversation that the United States is keeping the whole
the United States is keeping the whole world afloat. Many places I could give
world afloat. Many places I could give you six, seven places just in the people
you six, seven places just in the people in this little area. I know every one of
in this little area. I know every one of them. They're sort of they're looking
them. They're sort of they're looking down. They don't want to see me and they
down. They don't want to see me and they don't want to stare me in the eyes. But
don't want to stare me in the eyes. But they're taken advantage of. Everybody
they're taken advantage of. Everybody took advantage of the United States.
took advantage of the United States. But I've been very fair and I I gave
But I've been very fair and I I gave them a tariff and it was fine. But I
them a tariff and it was fine. But I realized that without us,
realized that without us, it's not Switzerland anymore. Without
it's not Switzerland anymore. Without us, it's not any of the countries that
us, it's not any of the countries that are represented here. And we want to
are represented here. And we want to work with the countries. We want to work
work with the countries. We want to work with them. We're not looking to destroy
with them. We're not looking to destroy them. I could have said 39 40%. I could
them. I could have said 39 40%. I could have I could have said I want a 70%
have I could have said I want a 70% tariff. Then we make money with
tariff. Then we make money with Switzerland. But Switzerland would have
Switzerland. But Switzerland would have been probably destroyed, financially
been probably destroyed, financially destroyed. I don't want to do that. But
destroyed. I don't want to do that. But we should be paying the lowest interest
we should be paying the lowest interest rate of everybody. I hope Scott's
rate of everybody. I hope Scott's listening to this because we should be
listening to this because we should be paying the lowest interest rate of
paying the lowest interest rate of everybody. Without us, without us, most
everybody. Without us, without us, most of the countries don't even work. And
of the countries don't even work. And then you have the protection factor.
then you have the protection factor. Without our military, which is the
Without our military, which is the greatest in the world by far, without
greatest in the world by far, without our military, you have threats that you
our military, you have threats that you would never you wouldn't believe. You
would never you wouldn't believe. You wouldn't believe. You don't have threats
wouldn't believe. You don't have threats because of us. And that's because of
because of us. And that's because of NATO. One other thing, and I have to say
NATO. One other thing, and I have to say it so importantly,
it so importantly, in the old days, and I'm I used to say
in the old days, and I'm I used to say I'm the youngest in the room. Now I'm
I'm the youngest in the room. Now I'm among the older. I hate to say it. I
among the older. I hate to say it. I don't feel old, but I'm among the older.
don't feel old, but I'm among the older. But I remember not long ago, 20, 25
But I remember not long ago, 20, 25 years ago, when good news came out
years ago, when good news came out about, let's say, the United States, the
about, let's say, the United States, the United States had a great quarter, the
United States had a great quarter, the United States had a great month, all the
United States had a great month, all the stocks went up, and that's the way it's
stocks went up, and that's the way it's supposed to be. Now, when they say the
supposed to be. Now, when they say the United States had a record quarter, it's
United States had a record quarter, it's unbelievable how well it's doing.
unbelievable how well it's doing. All the stocks crash because they say,
All the stocks crash because they say, "Oh no, inflation. Inflation. They're
"Oh no, inflation. Inflation. They're going to raise interest rates." And they
going to raise interest rates." And they do. These some of these stupid people
do. These some of these stupid people like Powell, they raise interest rates.
like Powell, they raise interest rates. And what they do is they stop you from
And what they do is they stop you from being successful. It used to be when we
being successful. It used to be when we had a great quarter, a great month,
had a great quarter, a great month, great earnings, great anything, any good
great earnings, great anything, any good news, the stock market went up. That's
news, the stock market went up. That's the way it's going to be. We got to do
the way it's going to be. We got to do that again because that's the way it
that again because that's the way it should be. Now, when we have a great
should be. Now, when we have a great month, they want to kill it. Like, we
month, they want to kill it. Like, we did over 5%, where people were
did over 5%, where people were surprised. We should do 20%, we could do
surprised. We should do 20%, we could do 25%.
25%. When we announce good numbers, and the
When we announce good numbers, and the reason is they're so petrified of
reason is they're so petrified of inflation. And growth doesn't mean
inflation. And growth doesn't mean inflation. We've had tremendous growth
inflation. We've had tremendous growth with very low inflation. In fact, growth
with very low inflation. In fact, growth can fight inflation, proper growth. So,
can fight inflation, proper growth. So, we want to get back to the days when we
we want to get back to the days when we announced great numbers because we're
announced great numbers because we're going to be announcing phenomenal. You
going to be announcing phenomenal. You know, all these factories that are being
know, all these factories that are being built at record thousands of businesses
built at record thousands of businesses are being built right now. Remember, $18
are being built right now. Remember, $18 trillion
trillion is invested. I think the the second
is invested. I think the the second number is three and that was China many
number is three and that was China many years ago. Investments in the country
years ago. Investments in the country from outside 18 trillion never nobody's
from outside 18 trillion never nobody's ever seen. And that's money coming in
ever seen. And that's money coming in and building things, factories,
and building things, factories, thousands of businesses are being built.
thousands of businesses are being built. Thousands,
Thousands, hundreds of big factories, car plants
hundreds of big factories, car plants are moving back to the United States.
are moving back to the United States. They're coming in from Canada. They're
They're coming in from Canada. They're coming in from Mexico, from Japan.
coming in from Mexico, from Japan. Japan's coming in and building plants
Japan's coming in and building plants here in order to avoid tariffs.
here in order to avoid tariffs. They're coming in from China. They're
They're coming in from China. They're coming in from all over the world. We
coming in from all over the world. We have more plants being built now, car
have more plants being built now, car plants, than we've ever had built, even
plants, than we've ever had built, even in the heyday from the 1940s and 50s.
in the heyday from the 1940s and 50s. and they're bigger. They don't use
and they're bigger. They don't use renovations anymore where they take an
renovations anymore where they take an old plant, they rip it down, they build
old plant, they rip it down, they build a brand new plant, super modern plant,
a brand new plant, super modern plant, but it's happening at levels that
but it's happening at levels that nobody's ever seen. In 2024, the US
nobody's ever seen. In 2024, the US built less than 2 million new homes. But
built less than 2 million new homes. But Biden admitted more than 8 million new
Biden admitted more than 8 million new migrants. And those days are over. In
migrants. And those days are over. In 2025, for the first time in 50 years,
2025, for the first time in 50 years, the United States had reverse migration.
the United States had reverse migration. Boy, that was nice.
Boy, that was nice. And these were criminals that were being
And these were criminals that were being taken out of our country because they
taken out of our country because they allowed people to come into our country
allowed people to come into our country from jails, from gangs, drug dealers,
from jails, from gangs, drug dealers, murderers. 11,888
murderers. 11,888 murderers. We've gotten most of them
murderers. We've gotten most of them out. And then ICE gets beat up by stupid
out. And then ICE gets beat up by stupid people from
people from leadership in Minnesota.
leadership in Minnesota. We actually are helping Minnesota so
We actually are helping Minnesota so much, but they don't appreciate it. Most
much, but they don't appreciate it. Most places do. You know, Washington DC is
places do. You know, Washington DC is the safest place now in the United
the safest place now in the United States. It was a very dangerous place to
States. It was a very dangerous place to walk. And now you can walk with your
walk. And now you can walk with your wife, your kids right through the middle
wife, your kids right through the middle of the city. Right now, Washington DC is
of the city. Right now, Washington DC is as safe as it gets. It was one of the
as safe as it gets. It was one of the most unsafe. I had to admit we sent in
most unsafe. I had to admit we sent in the military, the National Guard. Within
the military, the National Guard. Within two months, it was great. Within 3
two months, it was great. Within 3 months, it's like it's like a really
months, it's like it's like a really great place and a safe place and a
great place and a safe place and a beautiful place. It's even been cleaned
beautiful place. It's even been cleaned up. The graffiti is gone. Fences are
up. The graffiti is gone. Fences are gone. We don't have to worry about
gone. We don't have to worry about fences anymore.
fences anymore. All of the places, the grasses are cut
All of the places, the grasses are cut and replaced with new grass in many
and replaced with new grass in many cases. All it's all going to happen in
cases. All it's all going to happen in the spring. But Washington and DC is
the spring. But Washington and DC is beautiful again and it's safe. New
beautiful again and it's safe. New restaurants are opening up. They were
restaurants are opening up. They were all closing. Now you can't get into a
all closing. Now you can't get into a restaurant. Restaurants in Washington DC
restaurant. Restaurants in Washington DC are all opening. Memphis also Memphis,
are all opening. Memphis also Memphis, Tennessee,
Tennessee, New Orleans, Louisiana. We're there for
New Orleans, Louisiana. We're there for 3 weeks. It's cut. We've cut the crime
3 weeks. It's cut. We've cut the crime down to by 64% within another month. We
down to by 64% within another month. We have virtually no crime there. We can do
have virtually no crime there. We can do that all over. We're going to help the
that all over. We're going to help the people in California. We want to have no
people in California. We want to have no crime. I know Gavin was here. I used to
crime. I know Gavin was here. I used to get along so great with Gavin when I was
get along so great with Gavin when I was president. Gavin's a good guy and we're
president. Gavin's a good guy and we're going to if he needed it, I would do it
going to if he needed it, I would do it in a heartbeat. I'd love to see We did
in a heartbeat. I'd love to see We did help them a lot in Los Angeles, a lot
help them a lot in Los Angeles, a lot with the early early in my term when
with the early early in my term when they had some problems, but we would
they had some problems, but we would love to do it. I will say this, if I
love to do it. I will say this, if I were a Democrat governor or whatever, I
were a Democrat governor or whatever, I would call up Trump. I say, "Come on in.
would call up Trump. I say, "Come on in. Make us look good because we're cutting
Make us look good because we're cutting crime down to nothing." and we're taking
crime down to nothing." and we're taking people out, career criminals, who are
people out, career criminals, who are only going to do bad things, and we're
only going to do bad things, and we're bringing them back to their countries.
bringing them back to their countries. But where we've done it has been
But where we've done it has been amazing. And we have a capacity to do it
amazing. And we have a capacity to do it at much greater levels.
at much greater levels. We're cutting illegal aliens off welfare
We're cutting illegal aliens off welfare and other government benefits. And I
and other government benefits. And I have directed that starting immediately,
have directed that starting immediately, there will be no more payments to
there will be no more payments to sanctuary cities because they are really
sanctuary cities because they are really just sanctuaries for criminals. They're
just sanctuaries for criminals. They're really protecting criminals. And those
really protecting criminals. And those are the ones we have to get out of the
are the ones we have to get out of the country. Murderers, drug dealers,
country. Murderers, drug dealers, the mentally insane. They emptied their
the mentally insane. They emptied their mental institutions into the United
mental institutions into the United States. And despite that, we have the
States. And despite that, we have the lowest crime numbers that we've ever had
lowest crime numbers that we've ever had in the history of the country. Just came
in the history of the country. Just came out. But equally importantly, we're
out. But equally importantly, we're cracking down on more than$19 billion
cracking down on more than$19 billion dollars in fraud that was stolen by
dollars in fraud that was stolen by Somalian bandits. Can you believe that
Somalian bandits. Can you believe that Somalia? They turned out to be higher IQ
Somalia? They turned out to be higher IQ than we thought. I always say, "These
than we thought. I always say, "These are low IQ people. How do they go into
are low IQ people. How do they go into Minnesota and steal all that money?" And
Minnesota and steal all that money?" And we have, you know, they're pirates.
we have, you know, they're pirates. They're good pirates, right? But we
They're good pirates, right? But we shoot them out of the water just like we
shoot them out of the water just like we shoot the drug boats out. They're not
shoot the drug boats out. They're not pirating too many boats lately. Do you
pirating too many boats lately. Do you notice
notice when they go out into those boats, they
when they go out into those boats, they want to take over a billion half dollar
want to take over a billion half dollar tanker loaded up with oil and they say,
tanker loaded up with oil and they say, "We're going to blow up your boat. They
"We're going to blow up your boat. They have powerful weapons. You hit the side
have powerful weapons. You hit the side of the boat, you blow the whole thing
of the boat, you blow the whole thing up. The insurance companies are
up. The insurance companies are petrified, so they say, "Just give them
petrified, so they say, "Just give them the boat. We'll give them money
the boat. We'll give them money instead." And I don't do that. We blow
instead." And I don't do that. We blow them right the hell out of the water. We
them right the hell out of the water. We see them going out, we blow them out of
see them going out, we blow them out of the water. We don't have any pirates so
the water. We don't have any pirates so much anymore. If we do, they won't be
much anymore. If we do, they won't be there long. We've cut down with the
there long. We've cut down with the hitting of the boats that are loaded up
hitting of the boats that are loaded up with drugs, including submarines. Can
with drugs, including submarines. Can you believe they actually buy small?
you believe they actually buy small? They call mini subs. Very fast. They're
They call mini subs. Very fast. They're meant for drugs. We've knocked out two
meant for drugs. We've knocked out two of them. The Democrats say they were
of them. The Democrats say they were fishing. You have ruined somebody's
fishing. You have ruined somebody's fishing weekend. I would say a submarine
fishing weekend. I would say a submarine is not a fishing boat. You don't fish.
is not a fishing boat. You don't fish. But we've uh knocked down drugs by
But we've uh knocked down drugs by water,
water, the oceans, the sea by 97.2%.
the oceans, the sea by 97.2%. Think of that. And I actually say, "Who
Think of that. And I actually say, "Who the hell are the 3%?" Because I would
the hell are the 3%?" Because I would not want to be piloting one of those
not want to be piloting one of those boats. We knocked them down and now
boats. We knocked them down and now we're going to start on land. We're
we're going to start on land. We're going to knock it all out. The land is
going to knock it all out. The land is the easy part. That what we did on sea
the easy part. That what we did on sea is incredible. And that's our great
is incredible. And that's our great military. The situation in Minnesota
military. The situation in Minnesota reminds us that the West cannot massimp
reminds us that the West cannot massimp import foreign cultures which have
import foreign cultures which have failed to ever build a successful
failed to ever build a successful society of their own. I mean, we're
society of their own. I mean, we're taking people from Somalia, and Somalia
taking people from Somalia, and Somalia is a failed. It's not a nation. Got no
is a failed. It's not a nation. Got no government, got no police, got no
government, got no police, got no millet, got no nothing.
millet, got no nothing. And then we have this fake
And then we have this fake congressperson who they just reported is
congressperson who they just reported is worth $30 million. You believe this?
worth $30 million. You believe this? Elon Omar talking about the
Elon Omar talking about the Constitution. It provides me. She comes
Constitution. It provides me. She comes from a country that's not a country. And
from a country that's not a country. And she's telling us how to run America. not
she's telling us how to run America. not going to get away with it much longer.
going to get away with it much longer. Let me tell you, the explosion of
Let me tell you, the explosion of prosperity and conclusion and progress
prosperity and conclusion and progress that built the West did not come from
that built the West did not come from our tax codes. It ultimately came from
our tax codes. It ultimately came from our very special culture. This is the
our very special culture. This is the precious inheritance that America and
precious inheritance that America and Europe have in common. And we share it.
Europe have in common. And we share it. We share it. But we have to keep it
We share it. But we have to keep it strong.
strong. We have to become stronger, more
We have to become stronger, more successful, and more prosperous than
successful, and more prosperous than ever. We have to defend that culture and
ever. We have to defend that culture and rediscover the spirit that lifted the
rediscover the spirit that lifted the West from the depths of the dark ages to
West from the depths of the dark ages to the pinnacle of human achievement. We
the pinnacle of human achievement. We live in a incredible
live in a incredible changing period. It's an unbelievable
changing period. It's an unbelievable time, but we have to take advantage of
time, but we have to take advantage of the time that we're in. In our hands are
the time that we're in. In our hands are technologies that our ancestors could
technologies that our ancestors could scarily have. I mean, they couldn't have
scarily have. I mean, they couldn't have even dreamt some of the things that we
even dreamt some of the things that we see today.
see today. And so rapidly they're produced. I mean,
And so rapidly they're produced. I mean, AI two years ago, nobody ever heard of
AI two years ago, nobody ever heard of the term. And now everybody's talking
the term. And now everybody's talking about it. And it can have some very good
about it. And it can have some very good purpose. It could also have some
purpose. It could also have some dangerous purpose. And for that, we have
dangerous purpose. And for that, we have to watch out. But some tremendous things
to watch out. But some tremendous things are happening because of it. And we're
are happening because of it. And we're leading by so much. We're doing so well.
leading by so much. We're doing so well. But opportunities that are bigger and
But opportunities that are bigger and grander than ever before in human
grander than ever before in human history are right before us. It is the
history are right before us. It is the pioneers in this room. Many of you in
pioneers in this room. Many of you in this room are true pioneers. You're two
this room are true pioneers. You're two truly brilliant, brilliant people. Just
truly brilliant, brilliant people. Just your ability to get a ticket is
your ability to get a ticket is brilliant because you have about 50
brilliant because you have about 50 people for every seat. I don't know what
people for every seat. I don't know what that's Larry. Everything Larry touches
that's Larry. Everything Larry touches turns to gold. He made this very
turns to gold. He made this very successful. But you're in this room and
successful. But you're in this room and some of you are the greatest leaders
some of you are the greatest leaders anywhere in the world. You're the
anywhere in the world. You're the greatest brains anywhere in the world.
greatest brains anywhere in the world. And the future is unlimited. And to a
And the future is unlimited. And to a large part because of you and we have to
large part because of you and we have to protect you and we have to cherish you.
protect you and we have to cherish you. I always say we have to cherish our
I always say we have to cherish our brilliant people because there aren't
brilliant people because there aren't many of them.
many of them. So together with confidence, boldness
So together with confidence, boldness and persistence, let us lift up our
and persistence, let us lift up our people, grow our economies, defend our
people, grow our economies, defend our shared destiny, and build a future for
shared destiny, and build a future for our citizens that is more ambitious,
our citizens that is more ambitious, more exciting, more inspiring, and
more exciting, more inspiring, and greater than the world has ever seen.
greater than the world has ever seen. We're in a position to do things that
We're in a position to do things that nobody else has ever even thought of
nobody else has ever even thought of before. And many of the people in this
before. And many of the people in this room are the ones that are doing it. And
room are the ones that are doing it. And I want to congratulate you. And I'm with
I want to congratulate you. And I'm with you all the way. you can do things that
you all the way. you can do things that nobody else can even think about. So, I
nobody else can even think about. So, I congratulate you on your tremendous
congratulate you on your tremendous success and uh the United States is back
success and uh the United States is back bigger, stronger, better than ever
bigger, stronger, better than ever before. And I'll see you around. Thank
before. And I'll see you around. Thank you all very much. Thank you very much.
>> I didn't know about this. >> This was supposed to be um nice fire
>> This was supposed to be um nice fire chat. Uh Mr. President,
chat. Uh Mr. President, >> yes. Good.
>> yes. Good. >> Uh you you
>> Uh you you >> I got set up. No, I'm like I did now.
>> I got set up. No, I'm like I did now. >> You you made the job for the moderator
>> You you made the job for the moderator uh really easy. Thank you, Mr. president
uh really easy. Thank you, Mr. president uh for for your speech. I do have a few
uh for for your speech. I do have a few follow-up questions if it's okay.
follow-up questions if it's okay. >> Sure.
>> Sure. >> I don't think I should start with
>> I don't think I should start with Greenland. Maybe I I'll start with the
Greenland. Maybe I I'll start with the economy. Uh the US economy is doing
economy. Uh the US economy is doing really really uh well. Um but how to
really really uh well. Um but how to sustain this growth moving forward
sustain this growth moving forward because there's always a recession
because there's always a recession looming around the corner.
looming around the corner. >> Well, you know, the one thing about
>> Well, you know, the one thing about economies and and recessions is
economies and and recessions is sometimes you get hit unexpectedly and
sometimes you get hit unexpectedly and there's nothing you can do about it. all
there's nothing you can do about it. all brilliant people but there's nothing one
brilliant people but there's nothing one example was co uh we had an economy
example was co uh we had an economy going at levels like nobody had ever
going at levels like nobody had ever seen my first two and a half three years
seen my first two and a half three years and then I heard the word uh pandemic
and then I heard the word uh pandemic not co they came up with that name over
not co they came up with that name over a period of time we won't get into that
a period of time we won't get into that but I heard the word pandemic and I had
but I heard the word pandemic and I had a poll come out that was so strong just
a poll come out that was so strong just prior to that and I was with the two
prior to that and I was with the two best pollsters McLaclin and Fabriio and
best pollsters McLaclin and Fabriio and they said, "Sir,
they said, "Sir, George Washington and Abraham Lincoln,
George Washington and Abraham Lincoln, if they came back and ran as president
if they came back and ran as president and vice president, they couldn't beat
and vice president, they couldn't beat you." And then what happened is the
you." And then what happened is the following day, I was told to stay tuned
following day, I was told to stay tuned because there's something really bad
because there's something really bad happening in China. There are bodies
happening in China. There are bodies lying all over uh Wuhan, right around
lying all over uh Wuhan, right around that certain building that we talk
that certain building that we talk about. I always said it came from Wuhan.
about. I always said it came from Wuhan. did come from Wuhan and there were body
did come from Wuhan and there were body bags. We saw it by satellite and they
bags. We saw it by satellite and they said there are strange things happening
said there are strange things happening in China
in China and so it began and we ended up with the
and so it began and we ended up with the co and the whole world suffered. We did
co and the whole world suffered. We did a phenomenal job. I don't think we got
a phenomenal job. I don't think we got the credit we deserved. We did something
the credit we deserved. We did something that uh operation warp speed which some
that uh operation warp speed which some people say was one of the greatest uh
people say was one of the greatest uh military feats ever. We did a great job.
military feats ever. We did a great job. use our military, used a lot of people,
use our military, used a lot of people, but sometimes you get hit with things,
but sometimes you get hit with things, nothing you can do. You get hit with
nothing you can do. You get hit with things like that unexpectedly
things like that unexpectedly and we got through it. And when I uh
and we got through it. And when I uh left uh the stock market was higher than
left uh the stock market was higher than it was previous to the CO coming up and
it was previous to the CO coming up and that was I called it a great
that was I called it a great achievement. But things happen, bad
achievement. But things happen, bad things happen. Uh the things that we can
things happen. Uh the things that we can stop are wars if we're smart. That we
stop are wars if we're smart. That we can stop. Those are a matter of being
can stop. Those are a matter of being intelligent and having intelligent
intelligent and having intelligent people on the other side because wars
people on the other side because wars are the worst of all. Wars are worse
are the worst of all. Wars are worse than anything. Uh but we can stop wars
than anything. Uh but we can stop wars because that's sort of up to us. But
because that's sort of up to us. But things like uh
things like uh dust flying in the air, wherever CO
dust flying in the air, wherever CO comes from or whatever comes, uh
comes from or whatever comes, uh sometimes you have to be a little bit
sometimes you have to be a little bit lucky. But we are po we are poised to
lucky. But we are po we are poised to have an economy like no other not only
have an economy like no other not only in this country but anywhere and you you
in this country but anywhere and you you know when you hear the kind of numbers
know when you hear the kind of numbers that I I can tell you that Scott Bessant
that I I can tell you that Scott Bessant was with me the other day he's looking
was with me the other day he's looking at numbers he said I can't and that's
at numbers he said I can't and that's all he's done his whole life pretty much
all he's done his whole life pretty much your whole life Scott you weren't going
your whole life Scott you weren't going to be a football player I don't think
to be a football player I don't think Scott was not that great at football but
Scott was not that great at football but he was always good at numbers right and
he was always good at numbers right and he was uh he was looking at numbers he
he was uh he was looking at numbers he said I'd never seen anything like this.
said I'd never seen anything like this. We're poised to do things that no other
We're poised to do things that no other country's ever done. And you know, luck,
country's ever done. And you know, luck, I hate to say it, but we need a little
I hate to say it, but we need a little luck. We don't want to get hit by
luck. We don't want to get hit by something that nobody could have
something that nobody could have thought. Who ever thought we were going
thought. Who ever thought we were going to hit by a pandemic? You know, I when I
to hit by a pandemic? You know, I when I heard the word pandemic, I said, "Oh,
heard the word pandemic, I said, "Oh, that's an ancient problem. World War I,
that's an ancient problem. World War I, they lost 100 million people." It
they lost 100 million people." It actually ended World War I. A lot of
actually ended World War I. A lot of people don't know the the Spanish flu in
people don't know the the Spanish flu in World War I ended the war because all
World War I ended the war because all the soldiers were sick. The soldiers
the soldiers were sick. The soldiers were so sick on both sides and that war
were so sick on both sides and that war was raging and they were all dying from
was raging and they were all dying from the Spanish flu. They were sick as dogs.
the Spanish flu. They were sick as dogs. They couldn't fight. So, you know, you
They couldn't fight. So, you know, you don't know how that would have turned
don't know how that would have turned out. But, uh, so we do I mean, subject
out. But, uh, so we do I mean, subject to that and I always have to put a
to that and I always have to put a caveat in for it, but we're poised to
caveat in for it, but we're poised to have the greatest growth of any large
have the greatest growth of any large country. I think any country that
country. I think any country that there's been when you look at what's
there's been when you look at what's happening in the United States, it's
happening in the United States, it's really amazing.
really amazing. >> Thank you. Um, one thing that uh maybe
>> Thank you. Um, one thing that uh maybe keeps you up at night, I know you don't
keeps you up at night, I know you don't sleep that much anyway, Mr. President.
sleep that much anyway, Mr. President. Uh, is the debt uh the US debt uh is
Uh, is the debt uh the US debt uh is high is not the biggest expenditure on
high is not the biggest expenditure on your budget. How to get out of that
your budget. How to get out of that impulse?
impulse? >> Well, the big thing is growth. I mean,
>> Well, the big thing is growth. I mean, growth is the way. If we grow like this,
growth is the way. If we grow like this, we go from having at 37 36 37 trillion
we go from having at 37 36 37 trillion dollars. We go from having high debt to
dollars. We go from having high debt to low debt, but we also are cutting
low debt, but we also are cutting expenses, you know, the oldfashioned
expenses, you know, the oldfashioned way. We have extraordinary growth. I
way. We have extraordinary growth. I think we're going to be growing our way
think we're going to be growing our way out. I think we're going to be paying
out. I think we're going to be paying off debt. We're taking in tremendous
off debt. We're taking in tremendous money from tariffs fairly. And again,
money from tariffs fairly. And again, I'm using them judiciously. You know,
I'm using them judiciously. You know, Switzerland's a case study. I could have
Switzerland's a case study. I could have gotten much more. I could have asked for
gotten much more. I could have asked for much more, but uh we're using them
much more, but uh we're using them judiciously, but uh I think growth most
judiciously, but uh I think growth most importantly and then cutting costs. Now,
importantly and then cutting costs. Now, if you take a look at Minnesota, $19
if you take a look at Minnesota, $19 billion dollar in fraud
billion dollar in fraud and other things.
and other things. People going to airports, they came into
People going to airports, they came into the country, they don't have 10 cents,
the country, they don't have 10 cents, and they're leaving with hundreds of
and they're leaving with hundreds of thousands of cash in their bags.
thousands of cash in their bags. uh when we get to that and our DOJ Pam
uh when we get to that and our DOJ Pam and Todd and all the people that work
and Todd and all the people that work over there and all of the people that
over there and all of the people that work in here, I can tell you Scott
work in here, I can tell you Scott Bessant is working on that. It's a
Bessant is working on that. It's a priority, right? You have your whole
priority, right? You have your whole team. We're in there looking for
team. We're in there looking for uh where this money is coming from, how
uh where this money is coming from, how much it is. It could be more than $19
much it is. It could be more than $19 billion. Can you believe that? That's
billion. Can you believe that? That's just one state. If we were able to cut
just one state. If we were able to cut out
out 50% of the fraud, 50% and we should be
50% of the fraud, 50% and we should be able to do better than that, we would
able to do better than that, we would have a balanced budget without having to
have a balanced budget without having to talk about even growth. So, we have a
talk about even growth. So, we have a lot of options, but we're working very
lot of options, but we're working very hard on that. That's a big deal. Not
hard on that. That's a big deal. Not just it's not just the the protests, the
just it's not just the the protests, the fake protests done by agitators and, you
fake protests done by agitators and, you know, professional insurrectionists.
know, professional insurrectionists. That's what they are. They're
That's what they are. They're professional troublemakers. But we uh we
professional troublemakers. But we uh we are looking very strong at the money too
are looking very strong at the money too in Minnesota and other places.
in Minnesota and other places. >> I think Mr. President also the 500
>> I think Mr. President also the 500 billion US dollars invested in
billion US dollars invested in artificial intelligence and the frontier
artificial intelligence and the frontier technologies last year also were driving
technologies last year also were driving uh growth exponentially uh in the US.
uh growth exponentially uh in the US. >> AI has been a big factor. AI is massive.
>> AI has been a big factor. AI is massive. I mean, uh, Mark Zuckerberg showed me a
I mean, uh, Mark Zuckerberg showed me a plant where he put it over a map of
plant where he put it over a map of Manhattan and it was basically the size
Manhattan and it was basically the size of Manhattan. This is not I said, "You
of Manhattan. This is not I said, "You got to be kidding. It's a plant that was
got to be kidding. It's a plant that was miles long, miles wide, very high. I
miles long, miles wide, very high. I don't think it was high like the Empire
don't think it was high like the Empire State Building, but it was high." And
State Building, but it was high." And uh, it literally covered most of the
uh, it literally covered most of the island of Manhattan. That's called a big
island of Manhattan. That's called a big plant. And you know, when I heard
plant. And you know, when I heard they're going to spend 50 billion
they're going to spend 50 billion building, I said, "What?" You know, if
building, I said, "What?" You know, if you spend 50 million, you can build a
you spend 50 million, you can build a nice little shopping center. If you
nice little shopping center. If you spend 500 million, you can build a good
spend 500 million, you can build a good shopping center. But how do you spend 50
shopping center. But how do you spend 50 billion? When I looked at this thing, I
billion? When I looked at this thing, I said, "You think you'll be able to do it
said, "You think you'll be able to do it for that?" It's uh it's amazing. when
for that?" It's uh it's amazing. when you know some of the plants that I see
you know some of the plants that I see and I see them all and again so big is
and I see them all and again so big is we're letting them build their own
we're letting them build their own electric generation this way we have no
electric generation this way we have no problem and we otherwise they'd be
problem and we otherwise they'd be complaining there'd be nobody able to be
complaining there'd be nobody able to be you know we have an old grid system and
you know we have an old grid system and not only that they're going to sell at a
not only that they're going to sell at a very cheap price the excess electricity
very cheap price the excess electricity that they create back into our grid so
that they create back into our grid so that'll solve some problems for certain
that'll solve some problems for certain states that don't have enough
states that don't have enough electricity
electricity We also know that on the AI there is
We also know that on the AI there is fierce competition between the US as the
fierce competition between the US as the largest economy in the world 27% of the
largest economy in the world 27% of the global GDP and 5% of the global
global GDP and 5% of the global population not doing that badly and
population not doing that badly and China and u we know that that
China and u we know that that competition is very tough on AI. I know
competition is very tough on AI. I know you're heading uh to a state visit uh to
you're heading uh to a state visit uh to China in April. How do you see uh the US
China in April. How do you see uh the US China relationship moving forward? Are
China relationship moving forward? Are you able to combine
you able to combine this tough competition with also
this tough competition with also collaboration?
collaboration? So, I've always had a very good
So, I've always had a very good relationship with President Xi and with
relationship with President Xi and with President Putin. Talk about, you know,
President Putin. Talk about, you know, the the larger powers, but I've always
the the larger powers, but I've always had a very good relationship with
had a very good relationship with President Xi of China. He's an
President Xi of China. He's an incredible man. Uh what he's done is
incredible man. Uh what he's done is amazing. He's highly respected by
amazing. He's highly respected by everybody. Um, and I do now. I mean, now
everybody. Um, and I do now. I mean, now I have good, it was very severely
I have good, it was very severely interrupted by COVID. I used to call it
interrupted by COVID. I used to call it the China virus, but he said, "Do you
the China virus, but he said, "Do you think you could use a different name?"
think you could use a different name?" And I decided to do that because why
And I decided to do that because why should we have a problem over that? But,
should we have a problem over that? But, uh, I would do that. And they
uh, I would do that. And they >> You're a true diplomat, huh?
>> You're a true diplomat, huh? >> I was I became a diplomat for the first
>> I was I became a diplomat for the first time. Well, you know who taught me that?
time. Well, you know who taught me that? Marco Rubio. Marco Rubio. He said, ' Let
Marco Rubio. Marco Rubio. He said, ' Let me teach you about diplomacy. Hey, any
me teach you about diplomacy. Hey, any guy that gets approved by 100% of the
guy that gets approved by 100% of the votes, think of it, he got liberal
votes, think of it, he got liberal Democrats and radical right Republicans
Democrats and radical right Republicans to approve him. He's the only one, the
to approve him. He's the only one, the next one was like lost 45 votes, right?
next one was like lost 45 votes, right? But he got all 100 votes voting for him.
But he got all 100 votes voting for him. And at first, I wasn't happy about it. I
And at first, I wasn't happy about it. I said, "Wait a minute, I don't like
said, "Wait a minute, I don't like that." And now it turns out that the
that." And now it turns out that the Democrats probably wish they didn't do
Democrats probably wish they didn't do that. And Marco has been fantastic.
that. And Marco has been fantastic. Marco, stand up, please. You have done a
Marco, stand up, please. You have done a great job as Secretary of State. He's
great job as Secretary of State. He's gonna go down as the best secretary of
gonna go down as the best secretary of state. And Scott, and we have uh Susie,
state. And Scott, and we have uh Susie, who's the first female chief of staff,
who's the first female chief of staff, and she's the best chief of staff, too.
and she's the best chief of staff, too. And I see Howard Lutnik, who I know
And I see Howard Lutnik, who I know spoke, and Howard's fantastic. Some of
spoke, and Howard's fantastic. Some of the deals we're doing are great. And uh
the deals we're doing are great. And uh I want to pay particular attention
I want to pay particular attention because we have Chris and Chris you got
because we have Chris and Chris you got up and spoke. I think you were he's the
up and spoke. I think you were he's the number one oil man in the world because
number one oil man in the world because I was going to put uh Doug Bergam who's
I was going to put uh Doug Bergam who's fantastic. I don't know if Doug's here.
fantastic. I don't know if Doug's here. Is Doug here? Doug Bergam is fantastic.
Is Doug here? Doug Bergam is fantastic. He said sir there's one man better than
He said sir there's one man better than me and he introduced me to Chris and he
me and he introduced me to Chris and he turns out to be. So we're drilling more
turns out to be. So we're drilling more oil and gas now than we ever have by
oil and gas now than we ever have by almost double. Is that right Chris?
almost double. Is that right Chris? And on top of it, we got a lot coming
And on top of it, we got a lot coming out of Venezuela. So anyway, so we're
out of Venezuela. So anyway, so we're doing we're doing great. The country is
doing we're doing great. The country is just doing great. We have great people.
just doing great. We have great people. Thank you. And I see other people. We
Thank you. And I see other people. We have Steve Whituff. We have Jared. I got
have Steve Whituff. We have Jared. I got so many people. I'm in trouble because
so many people. I'm in trouble because when I go back, they're going to be
when I go back, they're going to be people with long faces. Sir, you didn't
people with long faces. Sir, you didn't introduce. I got so many people and we
introduce. I got so many people and we have a lot of the greatest people
have a lot of the greatest people anywhere in the world. I know them all.
anywhere in the world. I know them all. So, uh, I won't I won't continue because
So, uh, I won't I won't continue because we'd be here all day.
we'd be here all day. >> Thank you, Mr. President, we also know
>> Thank you, Mr. President, we also know um uh that you're a dealmaker and uh
um uh that you're a dealmaker and uh then maybe coming back uh to Greenland
then maybe coming back uh to Greenland and Ukraine. Um what kind of uh deal uh
and Ukraine. Um what kind of uh deal uh in the end do you see between the US uh
in the end do you see between the US uh and uh Denmark? uh because you know I I
and uh Denmark? uh because you know I I guess you see it now as a negotiation
guess you see it now as a negotiation going on or
going on or >> well it's costing Denmark hundreds of
>> well it's costing Denmark hundreds of millions a year to run it and Denmark's
millions a year to run it and Denmark's a small country and wonderful people but
a small country and wonderful people but you know it's very expensive it's a very
you know it's very expensive it's a very big piece of ice and it's ve it's very
big piece of ice and it's ve it's very important I mean I don't want to repeat
important I mean I don't want to repeat the speech but it's very important that
the speech but it's very important that we use that for national and
we use that for national and international security that can create
international security that can create um a power that will make it impossible
um a power that will make it impossible for the bad guys to do anything against
for the bad guys to do anything against the perceived good ones. And it's a
the perceived good ones. And it's a great block for Europe, just like, you
great block for Europe, just like, you know, Denmark was supposed to spend
know, Denmark was supposed to spend hundreds of millions of dollars. They
hundreds of millions of dollars. They didn't spend the money. They didn't
didn't spend the money. They didn't spend anything almost. And we'll see
spend anything almost. And we'll see what happens. I I just say this, NATO
what happens. I I just say this, NATO has treated the United States of America
has treated the United States of America very unfairly. We never asked for
very unfairly. We never asked for anything. We never got anything. We
anything. We never got anything. We actually took care of the needs of NATO
actually took care of the needs of NATO for years and years, which I felt was
for years and years, which I felt was always unfair. So, I got NATO to pay
always unfair. So, I got NATO to pay because they're rich countries. But, uh,
because they're rich countries. But, uh, I think it's time that NATO step up.
I think it's time that NATO step up. We're helping them with Ukraine without
We're helping them with Ukraine without us. I think Putin would have gone all
us. I think Putin would have gone all the way. I think we have it. I think
the way. I think we have it. I think Putin I think there could have been a
Putin I think there could have been a World War II if you want to know the
World War II if you want to know the truth. If if Kamla was elected or Joe,
truth. If if Kamla was elected or Joe, any one of those, you know, those
any one of those, you know, those thinkers, I think you could have ended
thinkers, I think you could have ended up in World War II. And uh I will say
up in World War II. And uh I will say Steve Witkoff has been dealing
Steve Witkoff has been dealing incredibly with but we're not going to
incredibly with but we're not going to have World War II. We want to get it
have World War II. We want to get it stopped, but we're not going to have
stopped, but we're not going to have World War II. I think if I wasn't
World War II. I think if I wasn't elected, I think that could have evolved
elected, I think that could have evolved into World War II. It was a very, very
into World War II. It was a very, very bad situation. And it still is, but it's
bad situation. And it still is, but it's not that kind of bad. It's bad because
not that kind of bad. It's bad because so many young people are being killed.
so many young people are being killed. >> How close do you think there is uh on an
>> How close do you think there is uh on an agreement on Ukraine? I had the pleasure
agreement on Ukraine? I had the pleasure of speaking with Steve Kov and and Jared
of speaking with Steve Kov and and Jared Kushner yesterday. I know they're
Kushner yesterday. I know they're working hard on it. I uh know that
working hard on it. I uh know that you're also traveling now. Do you do you
you're also traveling now. Do you do you see this very close or or still?
see this very close or or still? >> Well, I hate to say it. I thought that
>> Well, I hate to say it. I thought that was going to be so I settled eight wars
was going to be so I settled eight wars plus and I thought that was going to be
plus and I thought that was going to be one of my easier ones. Not the easiest.
one of my easier ones. Not the easiest. Some I settled in a matter of hours
Some I settled in a matter of hours because I'm good at that stuff. You
because I'm good at that stuff. You know, the United Nations should be doing
know, the United Nations should be doing this. I shouldn't be doing it, but it
this. I shouldn't be doing it, but it doesn't matter. It's got to get done.
doesn't matter. It's got to get done. saving a lot of lives. We're saving
saving a lot of lives. We're saving millions of lives. Uh with Ukraine,
millions of lives. Uh with Ukraine, Russia, there's tremendous hatred
Russia, there's tremendous hatred between President Zullinski and
between President Zullinski and President Putin. That's not good. That's
President Putin. That's not good. That's not good for settlements. We know from
not good for settlements. We know from dealing there's abnormal hatred. With
dealing there's abnormal hatred. With that being said, I think Russia wants to
that being said, I think Russia wants to make a deal. I think Ukraine wants to
make a deal. I think Ukraine wants to make a deal. And uh we're going to try
make a deal. And uh we're going to try getting a deal done. We're getting I
getting a deal done. We're getting I think Steve, I think I can say that
think Steve, I think I can say that we're reasonably close. Now what happens
we're reasonably close. Now what happens is often times we'll have a deal with
is often times we'll have a deal with Russia. Russia is set and President
Russia. Russia is set and President Zalinski will not do it. You saw that
Zalinski will not do it. You saw that when he was in the Oval Office. I was
when he was in the Oval Office. I was not happy. And then we'll have President
not happy. And then we'll have President Zalinsky wants to make a deal and Putin
Zalinsky wants to make a deal and Putin doesn't want to make the deal. It's a
doesn't want to make the deal. It's a very uh difficult balance and it's big
very uh difficult balance and it's big time and it's it's just it's it is, you
time and it's it's just it's it is, you know, to use a word, it's a bloodbath.
know, to use a word, it's a bloodbath. It's horrible what's happening. It's a
It's horrible what's happening. It's a drone war. The drones are killing, you
drone war. The drones are killing, you know, thousands of people a week.
know, thousands of people a week. Thousands. We have to get it stopped.
Thousands. We have to get it stopped. So, I believe they're at a point now,
So, I believe they're at a point now, I'm going to meet with President
I'm going to meet with President Zalinsky later today. I believe they're
Zalinsky later today. I believe they're at a point now where they can come
at a point now where they can come together and get a deal done. And if
together and get a deal done. And if they don't, they're stupid. That goes
they don't, they're stupid. That goes for both of them. And I know they're not
for both of them. And I know they're not stupid. But if they don't get this done,
stupid. But if they don't get this done, they are stupid. So, uh, I don't want to
they are stupid. So, uh, I don't want to insult anyone, but you got to get this
insult anyone, but you got to get this deal done. Too many people are dying.
deal done. Too many people are dying. It's not worth it.
It's not worth it. >> President Cece, he's sitting uh on the
>> President Cece, he's sitting uh on the first row here. He he spoke earlier
first row here. He he spoke earlier today and also complimented you on the
today and also complimented you on the Gaza deal. I think there will be a
Gaza deal. I think there will be a signing tomorrow. Of course, there are
signing tomorrow. Of course, there are different views on this, but there how
different views on this, but there how important do you think this signing is
important do you think this signing is on the board of peace? And do you think
on the board of peace? And do you think this is going to sustain? Do you think
this is going to sustain? Do you think we now uh will see u Gaza reconstructed
we now uh will see u Gaza reconstructed and billions of US dollars invested?
and billions of US dollars invested? >> I do. I mean, I think we have peace in
>> I do. I mean, I think we have peace in the Middle East. There are some uh
the Middle East. There are some uh little situations like Hamas and Hamas
little situations like Hamas and Hamas has agreed to give up their weapons.
has agreed to give up their weapons. Now, you know, they were born with a
Now, you know, they were born with a weapon in their hand. So, it's not easy
weapon in their hand. So, it's not easy to do. When they were born, they were
to do. When they were born, they were born with a rifle in their hand. It's
born with a rifle in their hand. It's not an easy thing for them, but they
not an easy thing for them, but they that's what they agreed to. They've got
that's what they agreed to. They've got to do it. And we're going to know,
to do it. And we're going to know, Jared, over the next two or three days,
Jared, over the next two or three days, certainly over the next three weeks,
certainly over the next three weeks, whether or not they're going to do it.
whether or not they're going to do it. If they don't do it, they're going to
If they don't do it, they're going to have they'll be blown away very quickly.
have they'll be blown away very quickly. They'll be blown away. You know, we have
They'll be blown away. You know, we have 59 countries that are part of that whole
59 countries that are part of that whole peace deal. And some of those countries
peace deal. And some of those countries aren't even in they're near the Middle
aren't even in they're near the Middle East, but they're not in the Middle East
East, but they're not in the Middle East traditionally. And they want to come in
traditionally. And they want to come in and take out Hamas. They want to come
and take out Hamas. They want to come in. They want to do whatever they can.
in. They want to do whatever they can. There's a problem with Hezbollah in
There's a problem with Hezbollah in Lebanon and we'll see what happens
Lebanon and we'll see what happens there. But that's a problem. But there
there. But that's a problem. But there are these little flames. But there's
are these little flames. But there's peace in the Middle East. Now, had we
peace in the Middle East. Now, had we not gone in and knocked out with those
not gone in and knocked out with those big beautiful, we just ordered 25 brand
big beautiful, we just ordered 25 brand new ones, the latest and the greatest,
new ones, the latest and the greatest, the B2 bomber. Think of they went in
the B2 bomber. Think of they went in there at 2:00 in the morning with no
there at 2:00 in the morning with no moon, no light, no nothing. And every
moon, no light, no nothing. And every single one of those massive bombs hit
single one of those massive bombs hit its target. 100,000 lb bombs hit its
its target. 100,000 lb bombs hit its target. every one of them. And then on
target. every one of them. And then on top of it, from a submarine 300 miles
top of it, from a submarine 300 miles away, we hit the sites with tomahawks,
away, we hit the sites with tomahawks, which is an unbelievable weapon. So, you
which is an unbelievable weapon. So, you know, we did our job. If we didn't do
know, we did our job. If we didn't do that, you would have never had peace in
that, you would have never had peace in the Middle East. And the countries like
the Middle East. And the countries like Saudi Arabia, UAE, and Qatar could never
Saudi Arabia, UAE, and Qatar could never have and others could never have signed
have and others could never have signed anything because you would have had this
anything because you would have had this dark cloud. And the dark cloud was Iran
dark cloud. And the dark cloud was Iran with nuclear. Iran would, if we didn't
with nuclear. Iran would, if we didn't take them out, they would have had a
take them out, they would have had a nuclear weapon within two months. They
nuclear weapon within two months. They were very close to having the nuclear
were very close to having the nuclear weapon, and we hit them hard. And it was
weapon, and we hit them hard. And it was a total obliteration.
a total obliteration. Uh if they they may try again, but
Uh if they they may try again, but they're going to have to try from a
they're going to have to try from a different area because that area was
different area because that area was obliterated. Incredible thing we did.
obliterated. Incredible thing we did. And because we did that, we were able to
And because we did that, we were able to make peace. If we didn't do that, I
make peace. If we didn't do that, I would say Jared and Steve, if we didn't
would say Jared and Steve, if we didn't do that, there was no chance of making
do that, there was no chance of making peace because the countries I just named
peace because the countries I just named and other countries could have never
and other countries could have never signed off. They were afraid. They were
signed off. They were afraid. They were afraid. Uh we had a bully. The bully was
afraid. Uh we had a bully. The bully was Iran, the bully of the Middle East. They
Iran, the bully of the Middle East. They used to call it for years. They were the
used to call it for years. They were the bully of the Middle East. They're not
bully of the Middle East. They're not the bully of the Middle East anymore.
the bully of the Middle East anymore. >> Mr. President, I I know you even had to
>> Mr. President, I I know you even had to change plane uh last night, so I guess
change plane uh last night, so I guess uh you didn't have much sleep, but uh I
uh you didn't have much sleep, but uh I think you're but your energy uh is still
think you're but your energy uh is still there. I know you have uh several
there. I know you have uh several bilateral meetings. I know you're also
bilateral meetings. I know you're also uh hosting a reception, so um thank you
uh hosting a reception, so um thank you so much uh for coming back uh to Davos.
so much uh for coming back uh to Davos. Thank you so much. It's uh highly
Thank you so much. It's uh highly appreciated. Well,
appreciated. Well, >> thank you very much. Thank you everybody
>> thank you very much. Thank you everybody very much. Thank you.
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