Bannon's War Room - Episode 4478： Trump Drops Hammer On Pharmaceutical Companies

00:00:00.000 A good deal maker. Had a special way about him. And it was Steve. Knew very little about the subject matter. Who does? But he learned it in about two hours. And he's been fantastic. So I want to just thank Steve. But they're going to be releasing Edan in about two hours from now. Or sometime today, let's say.

00:00:24.100 And again, they thought he was dead just a short while ago. His parents are so happy. They're so happy. So it's, as you know, Edan's the only American citizen who's captured and held hostage by Hamas since October 7th, 2023. And he's coming home to his parents, which is really great news. I mean, to me, it's big news. They thought he was dead.

00:00:54.100 So that's that. So we'll be heading there. And we'll be seeing three primary countries. You know all about that. Saudi Arabia, UAE, Qatar. On Thursday's meeting with Russia and Ukraine is very important.

00:01:14.100 I was very insistent that that meeting take place. I think good things can come out of that meeting. Stop the bloodshed of the horrible. It's a bloodbath. But 5,000 more. It's really much more. I'm trying to be conservative. More than 5,000 soldiers.

00:01:33.100 Russian. They're not American soldiers. They're from Russia. They're from Ukraine. But they're people. They're human souls. And they're being killed at levels that we haven't seen since the Second World War.

00:01:43.600 And it's every week. A lot of drone fighting. It's a whole new form of warfare. And it's violent and vicious. And so that's it. I'd like to go back to China just for a second. They're very heavy on the fentanyl.

00:01:59.940 We're charging them, as you know, 20 percent for the fact that they send fentanyl into our country. And they've agreed that they're going to stop that. And, you know, they'll be rewarded by not having to pay, you know, hundreds of billions of dollars in tariffs.

00:02:16.180 So the fentanyl should stop. It comes from China. It's amazing. And it comes through our southern border. It comes through our northern border, too. It comes through Canada and comes through our southern border, much more through, much more through the southern border.

00:02:31.780 But so that's a very important subject to me because everybody in this room has lost friends or people that have family members that have died of fentanyl.

00:02:43.040 So there's a big incentive for China to stop. And I take them at their word. They're going to work on that, I think, very hard. And one thing, when they work on something, they get it done. 0.82

00:02:53.520 So now I'm about to depart on a historic visit. Some of you are going with us to, as I said, Saudi Arabia, Qatar, and United Arab Emirates.

00:03:04.240 Before I do, I'll sign one of the most consequential executive orders in our country's history. I don't think there's ever been anything signed like this, certainly not with respect.

00:03:13.040 To health care, nothing even close. I'm delighted to be joined on this occasion by Secretary of Health and Human Services, Robert F. Kennedy, Jr., who is doing a really good job.

00:03:23.900 I have to tell you that. And a CMS administrator and a friend of mine, Dr. Mehmet Oz, who is an amazing guy.

00:03:33.140 You know, I was telling Bobby before, Oz had a very successful show, but it hurt his reputation, because when you're in show business, it hurts your reputation a little bit.

00:03:44.520 It's good for you. It's good for you. But in terms of professionalism and being a doctor, it sort of hurts your reputation.

00:03:50.640 This guy went to the best schools, was the best, I mean, top, top, top of the line.

00:03:55.600 Then he did a television show. It became a success. Made a lot of money, all that stuff, but it sort of hurt him.

00:04:03.280 And you know who I compare that to? I hate to say this, but a special woman, Jeanine Pirro.

00:04:08.580 She was the toughest, smartest DA maybe in our countries, in our cities and states' history, New York. 0.99

00:04:16.360 She was really tough, really sharp. Then she did a show, and people didn't think of her quite the same way.

00:04:24.200 She became more of an entertainment person, like Oz. Oz is not an entertainer, but he's not really an entertainer.

00:04:30.020 You know the real story. And she isn't either. She is unbelievable.

00:04:33.320 She was one of the strongest district attorneys in the history of New York.

00:04:38.840 Highly respected, very tough, went after the drug dealers at a level that you don't see today anymore.

00:04:48.040 And hopefully she's going to be, she's given up a tremendous, she's leaving the number one show on cable television,

00:04:54.240 one of the number one shows on television, period. The Five, but they've got great people left behind.

00:04:59.400 But she was a big part of it. And so I equate it to that. Jeanine Pirro is unbelievable.

00:05:05.060 FDA commissioner, Dr. Marty McCary, with a reputation that's second to none, and the job he's doing already has been fantastic.

00:05:14.200 Thank you, Marty. And director of National Institute of Health, Jay Bhattacharya, who has been, as you know, from Stanford,

00:05:24.380 so highly regarded, and have all been working with us very hard on this.

00:05:28.360 And the question they would ask, being a little bit new to the government aspect of it, is why hasn't, why doesn't somebody fight the drug price situation, meaning equalization?

00:05:38.600 There's a term, it's called equalization. Nobody wants to mention that term.

00:05:43.700 And I'm not knocking the drug companies. I'm really more knocking the countries than the drug companies, because they're forced to do things.

00:05:52.220 But the drug lobby is the strongest lobby in this country, they say, the drug lobby.

00:05:58.980 It's between that and lawyers. And they have a lot of power. 0.99

00:06:04.240 But starting today, the United States will no longer subsidize the health care of foreign countries, which is what we were doing. 0.53

00:06:11.060 We're subsidizing others' health care.

00:06:12.700 Countries where they paid a small fraction of what, for the same drug, that what we pay many, many times more for,

00:06:21.500 and will no longer tolerate profiteering and price gouging from big pharma.

00:06:26.420 But, again, it was really the countries that forced big pharma to do things that, frankly, I'm not sure they really felt comfortable doing.

00:06:36.060 But they've gotten away with it, these countries.

00:06:37.700 The European Union has been brutal, brutal.

00:06:41.560 And the drug companies actually told me stories.

00:06:43.880 It was just brutal how they forced them.

00:06:46.020 And the European Union is suing all our companies, Apple, Google, Meta.

00:06:53.000 They're suing all our companies.

00:06:55.260 They end up, they have judges that are European Union-centric.

00:07:01.940 And they get rewarded $15 billion, $17 billion, $20 billion, and they use that to run their operation.

00:07:12.220 It's not going to happen any longer, that I can tell you.

00:07:15.640 So what's been happening is we've been subsidizing other countries throughout the world, not just in Europe, throughout the world.

00:07:22.460 The European Union was the most difficult, from what I understand.

00:07:25.660 I mean, I'll tell you a story, a friend of mine who's a businessman, very, very, very top guy.

00:07:32.880 Most of you would have heard of him.

00:07:34.760 Highly neurotic, brilliant businessman, seriously overweight, and he takes the fat shot drug.

00:07:43.800 And he called me up, and he said, President, he used to call me Donald, now he calls me President, so that's nice respect.

00:07:53.600 But he's a rough guy, smart guy, very successful, very rich.

00:07:58.520 I wouldn't even know how we would know this, because he's got comments.

00:08:01.480 President, could I ask you a question?

00:08:03.100 What? 1.00

00:08:03.640 I'm in London, and I just paid for this damn fat drug I take. 0.99

00:08:08.460 I said, it's not working, he said, he said, I just paid $88, and in New York I paid $1,300. 0.99

00:08:19.580 What the hell is going on?

00:08:22.000 He said, so I checked, and it's the same box, made in the same plant, by the same company.

00:08:30.060 It's the identical pill that I buy in New York, and here I'm paying $88 in London.

00:08:36.160 And in New York, I'm paying $1,300.

00:08:40.140 Now, this is a great businessman, but he's not familiar with this crazy situation that we have.

00:08:46.240 But he was stunned.

00:08:48.820 But it was just one of those stories.

00:08:51.360 And I brought it up with the drug companies, represented by somebody who's very, very smart, good person, too.

00:08:57.920 And we argued about it for about a half hour, and then finally he just said, because they can't justify it,

00:09:03.080 he just said, look, you got me, you got me. 0.99

00:09:08.240 I can no longer just, you know, they've been justifying this crap for years. 0.97

00:09:12.580 They said, oh, it's research and development. 0.93

00:09:14.320 Well, I said, well, research and development, other countries should pay research and development, too.

00:09:18.520 It's for their benefit.

00:09:20.120 It was just one of those things.

00:09:21.460 And the other countries would set a price, and they'd meet the price.

00:09:25.600 And they'd say, if you don't meet the price, you can't sell it in our country.

00:09:30.020 I said, well, then you walk away.

00:09:31.720 And, you know, they'll call you back, and they'll sell it in the country.

00:09:34.380 But now they'll have to do that.

00:09:36.280 So for the first time in many years, we'll slash the cost of prescription drugs.

00:09:40.220 And we will bring fairness to America.

00:09:42.500 Drug prices will come down by much more, really, if you think.

00:09:47.620 If you think of a drug that is sometimes 10 times more expensive, it's much more than the 59 percent. 0.89

00:09:56.340 You know, it depends on the way you want to analyze it.

00:09:58.240 But in one way, you could analyze it that way.

00:10:00.500 But between 59 and 80, and I guess even 90 percent.

00:10:05.400 So when I worked so hard in the first term, and if I got prices down, remember, I was the only one to ever get prices down for a full year.

00:10:14.040 But I'd get them down like 2 percent, and I thought it was like a big deal.

00:10:17.200 Well, we're getting them down 60, 70, 80, 90 percent.

00:10:23.020 But actually more than that, if you think about it in the way mathematically.

00:10:28.060 And Farmer has to say, we're sorry, but we'll not be able to do this any longer to these countries that have been so tough.

00:10:38.080 They've been very tough, nasty.

00:10:40.620 It's trade.

00:10:41.580 It's trade.

00:10:43.100 And Farmer is also very powerful.

00:10:45.480 And the Democrats have protected Farmer.

00:10:48.300 The Democrats, this is the Democrats have protected Farmer.

00:10:50.780 These are the Democrats.

00:10:51.800 And by the way, I just called the Speaker of the House, and I just called the leader, our leader in the Senate, John Thune, Mike Johnson.

00:11:04.220 I spoke to both of them.

00:11:06.800 I said, when you score, you're going to have to score two things.

00:11:09.400 You're going to have to, number one, score that hundreds of billions of dollars of tariff money is coming in.

00:11:14.800 But even bigger than that, you're going to have to score that your cost for Medicaid and Medicare and just basically pharmaceuticals and drugs is going down at a level that nobody has ever seen before.

00:11:30.020 It'll pay for the Golden Dome.

00:11:31.640 I see the Golden Dome is there.

00:11:33.080 See?

00:11:33.880 That'll easily pay for the Golden Dome.

00:11:36.720 And we'll have a lot of money left over.

00:11:38.900 We need the Golden Dome, by the way, in this world.

00:11:42.800 Although this world is a lot safer today than it was a week ago, and a lot safer than it was six months ago.

00:11:49.180 We had people that had no clue what they were doing.

00:11:52.740 So today, Americans spend 70% more for prescription drugs than we spent in the year 2000.

00:12:00.060 Think of that.

00:12:00.920 Our country has the highest drug prices anywhere in the world by sometimes a factor of five, six, seven, eight times.

00:12:07.860 It's not like they're slightly higher, that six, seven, eight times.

00:12:12.400 There are even cases of ten times higher.

00:12:15.660 So that you go ten times more expensive for the same drug, that's big numbers.

00:12:20.660 Even though the United States is home to only 4% of the world's population,

00:12:26.060 pharmaceutical companies make more than two-thirds of their profits in America.

00:12:29.920 So think of that.

00:12:30.660 With 4% of the population, the pharmaceutical companies make most of their money, most of their profits.

00:12:38.340 From America, that's not a good thing. 0.92

00:12:41.860 Now, I think, by the way, pharmaceutical, I have great respect for these companies and for the people that run them.

00:12:46.720 I really do.

00:12:48.260 And I think they did one of the greatest jobs in history for their company, convincing people for many years that this was a fair system.

00:12:56.560 And nobody really understood why, but I figured it out.

00:13:01.480 But for years, pharmaceutical and drug companies have said that research and development costs were what they are.

00:13:09.100 And for no reason whatsoever, they had to be born by America alone.

00:13:16.240 Not anymore, they don't.

00:13:17.360 This means American patients were effectively subsidizing socialist health care systems in Germany, in all parts of the European Union.

00:13:29.180 They were the toughest of all.

00:13:30.560 They were nasty.

00:13:31.820 And I see that.

00:13:32.500 I see that with trade, too.

00:13:33.520 The European Union is, in many ways, nastier than China.

00:13:38.600 Okay?

00:13:39.780 And we've just started with them.

00:13:43.580 Oh, they'll come down a lot.

00:13:44.840 You watch.

00:13:46.400 We have all the cards.

00:13:47.920 They treated us very unfairly.

00:13:50.420 They sell us 13 million cards.

00:13:53.060 We sell them none.

00:13:53.880 And they sell us their agricultural products.

00:13:59.440 We sell them virtually none.

00:14:01.900 They don't take our products.

00:14:04.400 That gives us all the cards.

00:14:06.860 And very unfair.

00:14:08.180 So they're going to have to pay more for health care, and we're going to have to pay less.

00:14:11.220 That's all it is.

00:14:12.120 And believe it or not, you know, because it's really the world we're talking about, not just the European Union.

00:14:16.720 But because it's the world, the numbers are, for the health care company, not as bad as you would think.

00:14:24.800 They'll make the same.

00:14:25.540 I think the health care companies should make pretty much the same money.

00:14:29.800 I really don't believe they should be affected very much because it's just a redistribution of wealth.

00:14:35.780 It's a redistribution where it could be the same top line, but it's going to be distributed differently.

00:14:41.320 Europe's going to have to pay a little bit more.

00:14:43.700 The rest of the world's going to have to pay a little bit more.

00:14:45.860 And America's going to pay a lot less, again, because it's a much smaller population than when you think of the whole world.

00:14:53.700 So basically what we're doing is equalizing.

00:14:58.380 There's a new word that I came up with, which I think is probably the best word.

00:15:01.400 We're going to equalize.

00:15:03.140 We're all going to pay the same.

00:15:04.720 We're going to pay what Europe's going to pay.

00:15:06.400 We're going to all pay.

00:15:07.100 Now, there may be some countries in dire need, and I would be willing to sacrifice that and help them.

00:15:14.840 But it's called Most Favored Nation.

00:15:17.640 We are going to pay the lowest price there is in the world.

00:15:21.520 We will get whoever is paying the lowest price.

00:15:24.680 That's the price that we're going to get.

00:15:26.560 So remember that.

00:15:27.500 So we're no longer paying 10 times more than another country.

00:15:31.780 Whoever is paying the lowest price, we will look at that price, and we will say that's the price we're going to pay.

00:15:37.700 Most Favored Nations, that's what it is.

00:15:42.740 One breast cancer drug costs Americans over $16,000 per bottle.

00:15:48.940 But the same drug from the same factory manufactured by the same company is one-sixth that price in Australia and one-tenth that price in Sweden.

00:16:03.920 One-tenth for the identical product.

00:16:07.240 A common asthma drug costs almost $500 here in America, but costs less than $40 in the United Kingdom.

00:16:16.200 So $40 in the United Kingdom, which is where this gentleman told me he paid a small amount for his shot.

00:16:24.660 But think of that.

00:16:27.740 So $40 versus $500 here.

00:16:31.820 That's not even better.

00:16:32.680 There are much worse examples.

00:16:34.000 And the weight loss drug, Ozempic, costs 10 times more in the United States than in the rest of the developed world.

00:16:41.860 10 times more.

00:16:42.760 Why?

00:16:43.200 Why?

00:16:43.660 What did we do? 0.98

00:16:46.160 Suckers. 0.98

00:16:47.160 But we never had a president that had the courage to do this. 0.97

00:16:51.100 And nobody knew the system like I do.

00:16:53.720 I mean, I've gotten to know this system so well.

00:16:57.680 And I don't think it's fair that it benefits Obamacare.

00:17:00.640 Obamacare is a failure.

00:17:01.800 It's not a good health care.

00:17:04.580 It works.

00:17:05.260 I made it work.

00:17:06.400 I had an obligation to make it work or an obligation to let it die.

00:17:11.340 I chose that we had to make it work.

00:17:13.000 I had to make it as good as possible.

00:17:15.860 And I had a choice.

00:17:17.980 I could have let it fail or make it as good as possible.

00:17:21.500 As good as possible means it was still not very good, but it survived.

00:17:26.160 And we did the right thing.

00:17:27.720 But this makes it just makes everything work.

00:17:30.000 And I don't want to have a bad form of health care work because of the fact I was able to cut drug prices by 80 or 90 percent.

00:17:40.440 So we're going to maybe come up with something.

00:17:42.400 I think this gives the Republicans a chance to actually do a health care that's much better than Obamacare and for less money, which you guys would work on that along with Congress.

00:17:52.060 But I do want to say that Democrats could have done this a long time ago.

00:17:56.460 They have fought like hell for the drug companies, and they knew they were doing the wrong thing.

00:18:01.640 And it's going to be very hard.

00:18:02.900 I was just telling the leader and the speaker that it's going to be very hard for the Democrats to vote against the one big, beautiful deal, the greatest tax cuts in history, greatest everything.

00:18:17.120 But now you have the big drug prices because that's going to be included.

00:18:20.460 It makes that whole situation different from a scoring standpoint.

00:18:26.680 I just told them.

00:18:27.540 I called them up about this.

00:18:28.820 I said, I'm going to do something that's going to be very monumental.

00:18:31.740 And you're going to be scoring.

00:18:33.960 You better tell your people that this is going to score really well.

00:18:37.740 And then add hundreds of billions of dollars in tariffs to your list also.

00:18:44.220 But as big as the tariffs are, this is something that really hits quickly.

00:18:47.800 Five years ago, I signed an executive order to confront this disaster, but only confront it in a minor way.

00:18:56.020 It was a good confrontation, but never to this extent.

00:19:00.740 It took people a little while to understand a very complicated system.

00:19:05.780 But Joe Biden, without any knowledge of what he was doing, terminated the policy and then pretended to negotiate under a new system.

00:19:12.980 And then you take a look, five out of the ten drugs that he negotiated are now over 200 percent more expensive in America than the rest of the world and far more expensive than when he even got involved.

00:19:28.920 Much more expensive than when he got involved.

00:19:31.080 Joe Biden's plan was, as you know, because you wrote about it.

00:19:34.820 You don't say it very loudly, but it was a very big failure, was his whole presidency.

00:19:39.080 First, I'm directing the U.S. trade representatives and Department of Commerce to begin investigations into foreign nations that extort drug companies by blocking their products unless they accept bottom line and very low dollar amounts for their product, unfairly shifting the cost burden onto American patients.

00:19:58.800 And we'll be taking a look at that very strongly.

00:20:02.100 The biggest thing we're going to do is we're going to tell those countries, like those represented by the European Union, that, you know, that game is up.

00:20:10.920 Sorry.

00:20:11.960 And if they want to get cute, then they don't have to sell cars into the United States anymore.

00:20:17.100 It's a very big subject.

00:20:18.800 And they won't get cute because I'll defend the drug companies from that standpoint.

00:20:23.700 They were given a price by the European unions and other countries.

00:20:28.820 This is what you do.

00:20:30.320 This is what we're going to pay.

00:20:31.720 We're not going to pay anymore.

00:20:33.300 Let America pay the difference because it was a big shortfall.

00:20:36.380 Let America pay it. 0.56

00:20:38.280 And that's what we did.

00:20:39.620 But we're not doing it anymore.

00:20:41.120 Next, my administration will secure what we're calling most favored nations drug pricing.

00:20:46.520 The principle is simple.

00:20:47.660 Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay.

00:20:53.920 And we're using the term other developed countries because there are some countries that need some additional help.

00:21:00.340 And that's fine.

00:21:00.960 I think that's very good.

00:21:03.280 Some prescription drug and pharmaceutical prices will be reduced almost immediately by 50 to 80 to 90 percent.

00:21:11.240 Big Pharma will either abide by this principle voluntarily or will use the power of the federal government to ensure that we are paying the same price as other countries.

00:21:21.880 To accelerate these price restrictions and reductions, my administration will also cut out the middlemen.

00:21:29.260 We're going to totally cut out the famous middlemen.

00:21:31.900 Nobody knows who they are.

00:21:33.080 Middlemen. 0.97

00:21:33.560 I've been hearing the term for 25 years.

00:21:35.520 Middlemen. 0.97

00:21:36.800 I don't know who they are, but they're rich.

00:21:38.620 That I can tell you.

00:21:39.600 We're going to cut out the middlemen and facilitate the direct sale of drugs at the most favored nation price directly to the American citizen. 0.91

00:21:48.000 So we're cutting out, probably, the middlemen.

00:21:50.280 It's so important, right?

00:21:52.000 They've got to do that.

00:21:53.400 They get, they get, they're worse than the drug companies.

00:21:56.400 They don't even make a product and they make a fortune.

00:21:59.520 It's very smart business people that I can tell you.

00:22:02.280 If companies make no significant progress toward most favored nation pricing, which we will insist that they do.

00:22:07.860 So I think I'm wasting time talking about it.

00:22:09.940 We're going to insist upon it.

00:22:11.760 And we'll insist, and we're going to help the drug companies with the other nations, because those other nations do a lot of trading with us.

00:22:17.880 They need our trade, just like China needed us very badly.

00:22:21.060 They need us just as badly.

00:22:24.280 We will do whatever we have to with trade, just like we did some great things with trade with India and Pakistan.

00:22:31.720 It really helped the situation, very heated situation.

00:22:35.360 Could have lost millions of people, more than millions.

00:22:37.680 I mean, many millions of people.

00:22:39.280 And they want to do business with America, but we never used our powers that way.

00:22:48.120 We never knew how.

00:22:48.860 We never had people that knew how to do that.

00:22:50.880 We'll also open up America's market to safe and legal imports of affordable drugs from other countries, putting dramatic downward pressure on prices.

00:22:59.740 And if necessary, we'll investigate the drug companies, and we'll, in particular, investigate the countries that are doing this.

00:23:08.440 And we will add it on to the price that we charge them for doing business in America.

00:23:16.380 In other words, we'll add it on to tariffs if they don't do what is right, which is everybody should equalize.

00:23:22.720 Everybody should say pay the same price, and special interests may not like this very much, but the American people will.

00:23:30.700 I mean, I am doing this for the American people.

00:23:34.080 I'm doing this against the most powerful lobby in the world, probably, the drug lobby, drug and pharmaceutical lobby.

00:23:41.560 But it's one of the most important orders, I think, that's ever been signed, certainly with regard to health care or health in the history of our country.

00:23:48.980 And it's an honor to be a part of it.

00:23:50.540 And I'd like to ask Robert F. Kennedy to say a few words, please.

00:23:54.740 Thank you.

00:23:57.380 Thank you, Mr. President.

00:24:00.840 This is an extraordinary day.

00:24:04.380 This is an issue that, you know, I grew up in the Democratic Party, and every major Democratic leader for 20 years has been making this promise to the American people.

00:24:13.580 This was the fulcrum of Bernie Sanders' runs for presidency, that he was going to eliminate this discrepancy between Europe and the United States.

00:24:23.340 But as it turns out, none of them were doing it.

00:24:27.420 And it's one of these promises that politicians make to their constituents, knowing that they'll never have to do it.

00:24:33.900 And the reason they'll never have to do it is because they know that Congress is controlled in so many ways by the pharmaceutical industry.

00:24:43.200 There's at least one pharmaceutical lobbyist for every congressman, every senator on Capitol Hill, and every member of the Supreme Court.

00:24:49.700 Some estimates three pharmaceutical companies, the industry itself, spends three times what the next largest lobbyist spends on lobbying.

00:25:02.480 So this was an issue that people talked about, but nobody wanted to do anything because it was radioactive.

00:25:11.340 They knew you couldn't get it by Congress.

00:25:12.960 We now have a president who is a man of his word, who has the courage.

00:25:20.100 President Trump was taking money from the pharmaceutical industry, too.

00:25:23.460 I think they gave you $100 million.

00:25:25.800 But he can't be bought, unlike most of the politicians in this country.

00:25:31.140 And he is standing here for the American people.

00:25:34.740 I don't know what, you know, there's writers like Elizabeth Warren or Robert Reich,

00:25:41.220 who are saying that President Trump is on this side of the oligarchs.

00:25:44.940 There has never been a president more willing to stand up to the oligarchs than President Donald Trump.

00:25:53.160 And I'm very, very proud of you, Mr. President, for your courage.

00:25:57.940 I'll say, because I don't want to be crude, your intestinal fortitude, your stiff spine,

00:26:05.040 and your willingness to stand up for the American people.

00:26:10.020 We have 4.2 percent of the world's population.

00:26:13.680 We, our country represents 75 percent of the revenues for pharmaceutical companies.

00:26:21.520 We spend, in our country, $1,126 per capita on drugs.

00:26:28.480 In Britain, they spend about $240.

00:26:31.820 They spend one-fifth of what we do.

00:26:34.700 And this is true across Europe.

00:26:37.420 And this, and the drug companies, Europeans, if you ask them, it made no sense what they were saying.

00:26:43.180 America has to pay for this innovation or it's not going to happen.

00:26:47.640 President Trump is saying to our European partners,

00:26:50.760 is you've got to raise the amount that you're paying for those drugs

00:26:54.060 and pay for your share of the innovation,

00:26:57.220 that the United States is no longer subsidizing that.

00:27:00.720 If the Europeans raise the price of their drugs by just 20 percent,

00:27:06.260 that is $10 trillion that can be spent on innovation.

00:27:10.480 And the health of all people all across the globe is going to increase

00:27:16.040 because we're going to have better products.

00:27:18.840 So I'm just so grateful to be here today.

00:27:23.020 I never thought that this would happen in my lifetime.

00:27:26.360 I have a couple of kids who are Democrats,

00:27:29.740 or big Bernie Sanders fans.

00:27:32.240 And when I told them that this was going to happen,

00:27:34.780 they had tears in their eyes

00:27:36.160 because they thought this is never going to happen in our lifetime.

00:27:39.860 And we finally have a president who's willing to stand up for the American people.

00:27:44.520 Thank you.

00:27:45.320 And Dr. Oz.

00:27:49.960 Thank you, Secretary Kennedy.

00:27:51.060 This is the most powerful executive order

00:27:55.780 on pharmacy pricing and health care ever in the history of our nation.

00:28:00.240 And it's only happening because we have a president with the fortitude,

00:28:04.960 the guts to stand up to the withering criticism and lobbying

00:28:08.200 that's going to occur as soon as folks hear about the executive order.

00:28:11.940 So on behalf of the child in Philadelphia who's got an autoimmune disease with $1,000 a month drug

00:28:17.940 or the older woman in Los Angeles who's on a blood thinner who can't afford her copay, 0.92

00:28:23.660 I want to thank President Trump.

00:28:24.960 God bless you for having the guts to take on this industry.

00:28:27.880 Thank you, sir.

00:28:28.340 Thank you very much.

00:28:29.000 So let's talk about the details a little bit.

00:28:32.100 And this is primarily about equalization, as President Trump said.

00:28:36.380 It's about fairness.

00:28:37.480 Think of NATO as a metaphor.

00:28:39.380 When President Trump said, you've got to pay a little more so it makes sense for all of us,

00:28:43.920 they came up.

00:28:45.160 And the European countries contributed.

00:28:47.220 The same thing we believe will happen in this situation.

00:28:49.960 Most people who have thought about this process agree that it is patently unfair

00:28:55.000 to tolerate the numbers that Secretary Kennedy and President Trump have reflected to you.

00:28:59.680 On this chart to my left is a list of the 10 drugs that were negotiated in the IRA.

00:29:05.580 Again, this is the bill, the law, that regulates a negotiation process.

00:29:11.000 This is the best price that was able to be obtained by the Biden administration.

00:29:15.260 And if you look at these numbers, they actually reflect how much on top of the most favored

00:29:21.380 nation price was being paid by the United States.

00:29:24.660 So the closest to me, and Bob, you can point to the Jardins, the closest one, 289%, the one

00:29:29.220 that's closest to you, that means that we are paying in America four times more than that

00:29:36.280 drug costs in other countries.

00:29:37.940 Again, 100% is the baseline.

00:29:39.440 It's 289% above that baseline.

00:29:41.820 It goes all the way down to when we're paying 50% more than any other country.

00:29:45.640 That's the range.

00:29:47.200 As was pointed out by President Trump, half the time we're paying three times more than

00:29:51.340 it's paid in other countries.

00:29:52.500 It doesn't make any sense for the system.

00:29:54.560 That's stated.

00:29:55.180 President Trump is over and over again indicated, and Secretary Kennedy has reflected as well.

00:29:59.660 We want innovation.

00:30:01.100 We want our technology partners doing the best they can to make the best solutions for drugs

00:30:05.740 to cure as many people in America and around the world as possible.

00:30:09.040 By getting our allies to pay a bit more, as they should be, and they should have for many

00:30:14.360 years been doing, we'll course correct a problem that's gotten out of hand.

00:30:18.160 And by doing that in a thoughtful, effective way, we're going to be able to get the pharmaceutical

00:30:22.000 industry whole.

00:30:23.420 Those jobs will still be here.

00:30:24.580 We'll still be productive.

00:30:25.480 We'll still be curing cancer and a slew of other ailments that plague humanity.

00:30:29.600 America will still be the leader in this space.

00:30:31.920 But we'll be paying the appropriate amount, the right-sized amount for those tasks.

00:30:35.800 So over the next 30 days, the four of us up here, together with people standing in the

00:30:41.820 back of this room, we're doing a lot of the heavy lifting, are going to be approaching

00:30:44.500 pharmaceutical companies to talk specifically about what we want the most favored nation

00:30:48.460 price to be based on the best data we have.

00:30:50.720 We're looking forward to a thoughtful interaction with these corporate leaders, many of whom we've

00:30:57.100 spoken to and in quiet will agree the system is not right the way it is.

00:31:01.680 They're patriotic Americans.

00:31:02.660 They want what's right.

00:31:03.960 But the fact that in my lifetime, as Secretary Kennedy said, for the first time, we have

00:31:08.240 a thoughtful and aggressive approach, thanks to President Trump, on taking on these special

00:31:13.520 interests, I should give all Americans confidence that this is an administration that stands

00:31:18.560 for fairness and should chill the waters for those who believe they can push us away from

00:31:23.080 our North Star, which is to take care of the American people.

00:31:26.500 Mr. President, God bless you.

00:31:27.700 Thank you very much.

00:31:28.360 Jay, you want to go next?

00:31:30.240 Sure.

00:31:32.580 So I teach economics at Stanford as well as health policy.

00:31:37.000 And one thing that's really, really simple in economics is that when you have a persistent

00:31:41.160 price difference for the same product between two countries, there is something deeply wrong.

00:31:46.580 And what President Trump has done is a historic measure that should have been done a long time

00:31:51.460 ago.

00:31:51.760 What we're going to do is make sure that those prices become much closer to equal, like a

00:31:59.040 competitive market you'd expect.

00:32:01.020 Right now what's happening is the American people are subsidizing in large fraction the research

00:32:07.840 and development efforts for drug companies around the world by the higher prices that we

00:32:11.660 pay.

00:32:11.920 With this new order, Europe will share the burden of that.

00:32:17.840 And in fact, if you may think of it as like somehow it's going after drug companies, actually

00:32:23.640 it's helping drug companies.

00:32:25.220 Because what we're also going to do with this order, what President Trump has done with this

00:32:28.420 order, is he's said to European governments, look, if you are taking advantage of the drug

00:32:34.360 companies by forcing them to charge very, very low prices, we're going to defend American drug

00:32:39.300 companies in Europe, at the same time, we're standing up for the American consumer who's been

00:32:45.640 paying far too high prices for far too long.

00:32:48.300 I can go back decades to point to congressional reports after government report after government

00:32:54.460 report of tremendously high drug prices, much higher than the rest of the world, and nothing

00:33:00.060 has been done about it until this moment.

00:33:02.000 And I'm really, really proud, President Trump, that you've done this.

00:33:05.760 I'm really proud to be included in this.

00:33:07.200 I'm looking forward to the work ahead.

00:33:08.260 Thank you, Mr. President.

00:33:11.540 On behalf of the many doctors I've talked to about this very issue, thank you for taking

00:33:16.260 the bull by the horns.

00:33:18.040 Presidents on both sides of the aisle have talked about this and floated it and said they've

00:33:22.260 wanted to do it, so you've had the courage to do it.

00:33:25.540 Thank you.

00:33:26.140 I've been a surgical oncologist at Johns Hopkins for 22 years, and I have seen patients suffer.

00:33:32.620 We didn't take an oath to heal patients and then watch their life get ruined financially.

00:33:38.040 With their home, mortgage, retirement, going down the drain with GoFundMe campaigns, raising

00:33:45.520 money from church communities and synagogues and friends they haven't seen in 20 years,

00:33:49.980 to try to raise money for what?

00:33:52.900 But for a system where Americans have been getting ripped off by 10, 12, 15 times higher prices

00:33:59.960 than we see in other countries, the fundamental problem in healthcare is that we've had non-competitive

00:34:04.200 markets.

00:34:05.320 We can do little things around the edges or we can transform those markets to competitive

00:34:10.320 markets.

00:34:10.680 And that's what this executive order does today.

00:34:13.420 Imagine buying a Ford for $175,000, a regular car, and then hearing that people in London

00:34:22.300 are buying it for $10,000 every day, all day long.

00:34:26.040 That is the craziness of this system.

00:34:28.300 We're going to do everything we can at the FDA to support this executive order.

00:34:32.760 It's transformative.

00:34:33.860 Thank you, Mr. President.

00:34:35.200 Thank you.

00:34:35.540 Thank you very much.

00:34:37.720 So thank you very much, everybody.

00:34:39.580 I think it's a very important day.

00:34:41.260 In many ways, we'll start with the Houthis. 0.97

00:34:46.100 We go to Pakistan and India.

00:34:48.300 We go to what we did with China, the trade deal, and with the UK.

00:34:52.500 And by the way, many other deals are coming in very much.

00:34:56.380 At a certain point, we'll just set the price because we know where we are.

00:34:59.640 But we'll just set the price.

00:35:01.060 But world trade is going to be terrific.

00:35:03.860 And our country is going to be making a lot of money.

00:35:07.700 Taxes are going to go down.

00:35:09.200 Taxes are going to go down very, very substantially.

00:35:12.300 But you look at all of the things that we've done.

00:35:14.480 And now today, I'm heading over.

00:35:16.620 We'll see what we're going to do with respect to Iran.

00:35:21.740 I think you have very good things happening there, too, by the way.

00:35:24.360 I think you can't have a nuclear weapon.

00:35:27.080 But I think that they are talking intelligently.

00:35:30.600 We're in the midst of talking to them.

00:35:32.220 And they're right now acting very intelligent.

00:35:36.160 We want Iran to be wealthy and wonderful and happy and great.

00:35:40.300 But they can't have a nuclear weapon.

00:35:42.120 It's very simple.

00:35:42.680 So I think they understand that I mean business.

00:35:46.780 And I think they're being very reasonable thus far.

00:35:50.900 And don't underestimate Thursday in Turkey.

00:35:57.860 President Erdogan is going to be a great host.

00:36:01.660 And we are doing some work with him having to do with Syria, too, by the way.

00:36:08.200 We're going to have to make a decision on the sanctions, which we may very well relieve.

00:36:12.160 We may take them off of Syria because we want to give them a fresh start. 1.00

00:36:17.740 But President Erdogan has asked me about that.

00:36:20.420 Many people have asked me about that because the way we have them sanctioned, it doesn't really give them much of a start.

00:36:25.320 So we want to see if we can help them out.

00:36:28.060 So we'll make that determination.

00:36:30.140 But I think you're going to have maybe a good meeting.

00:36:31.940 You have the potential for a good meeting, that a meeting wasn't going to take place.

00:36:35.200 I insisted that that meeting take place.

00:36:38.480 And it is taking place.

00:36:40.240 And I think you may have a good result out of the Thursday meeting in Turkey between Russia and Ukraine.

00:36:46.280 And I believe the two leaders were going to be there.

00:36:48.620 I was thinking about flying over.

00:36:49.940 I don't know where I'm going to be on Thursday.

00:36:51.440 I've got so many meetings.

00:36:53.380 But I was thinking about actually flying over there.

00:36:56.200 There's a possibility of it, I guess, if I think things can happen.

00:36:59.320 But we've got to get it done.

00:37:00.460 We've got to save 5,000 lives a week.

00:37:02.280 5,000 lives are really more than that.

00:37:04.020 It's worse than that.

00:37:05.200 And when you see the, and you don't want to see it, but when you see the satellite photographs of the battlefield with arms and legs and heads all over the place, separated by 30 yards from bodies, it's not, does it make sense?

00:37:22.180 It doesn't make sense.

00:37:23.420 So we're working very hard to see if we can end that bloodbath.

00:37:28.920 Okay.

00:37:29.720 There shouldn't be too many questions.

00:37:31.320 It's been covered pretty well.

00:37:32.480 Thank you, Mr. President.

00:37:33.440 Thank you for taking questions.

00:37:34.740 Two quick ones for you.

00:37:36.140 Starting on trade.

00:37:37.740 If a longer-term deal is not reached with China at the end of these 90 days, can the American people expect those tariffs to go back up to 145 percent?

00:37:46.440 No, but they would go up substantially higher.

00:37:49.100 Okay.

00:37:49.420 And then on-

00:37:49.920 You know, at 145, you're really decoupling because nobody's going to buy.

00:37:53.200 But they can go, they got very high because of additional tariffs.

00:37:58.140 I applied during the course because of fentanyl and other things.

00:38:01.120 But no, but they'd go substantially higher.

00:38:03.120 And then on Qatar, Mr. President, has-

00:38:04.660 I think you will have a deal, however.

00:38:06.040 You're confident that there will be a deal on Qatar.

00:38:08.600 Has Qatar asked for anything in exchange for that $400 million luxury jumbo jet?

00:38:14.960 And how can the American people be so sure that they will not in the future?

00:38:18.360 Well, I think what happens with the plane is that, you know, we're very disappointed that it's taking Boeing so long to build a new Air Force One.

00:38:24.960 You know, we have an Air Force One that's 40 years old.

00:38:27.400 And if you take a look at that compared to the new plane of the equivalent, you know, stature at the time, it's not even the same ballgame.

00:38:35.180 You look at some of the Arab countries and the planes they have parked alongside of the United States of America plane.

00:38:43.680 It's like from a different planet.

00:38:45.800 And it's close to 40 years old.

00:38:47.460 It might be more than 40 years old now.

00:38:49.620 And we- when I first came in, I signed an order to get it built.

00:38:55.700 I took it over from the Obama administration.

00:38:59.480 They had originally agreed.

00:39:00.980 I got the price down much lower, and then when the election didn't exactly work out the way that it should have, a lot of work was not done on the plane because a lot of people didn't know. 0.98

00:39:13.480 They made change orders that were so stupid, so ridiculous, and it ended up being a total mess, a real mess.

00:39:20.840 And when I came back, I said, by the way, what's going on with the Boeings that are coming in? 1.00

00:39:25.820 Well, sir, they're way behind, and they are.

00:39:27.460 They're way behind.

00:39:28.060 They were way behind another mess that I inherited from Biden, and it's going to be a while before we get them.

00:39:35.560 And I think Qatar, who has really- we've helped them a lot over the years in terms of security and safety.

00:39:43.580 I felt they- I think- and very, very nicely, and I have a lot of respect for the leadership and for the leader, Qatar.

00:39:50.060 And I think they very- they knew about it because they buy Boeings.

00:39:53.680 They buy a lot of Boeings, and they knew about it, and they said we would like to do something, and if we can get a 747 as a contribution to our Defense Department to use during a couple of years while they're building the other ones, I think that was a very nice gesture. 0.83

00:40:14.060 Now, I could be a stupid person and say, oh, no, we don't want a free plane. 0.63

00:40:18.620 We give free things out. 0.99

00:40:19.900 We'll take one, too.

00:40:21.380 And it helps us out because, again, we're talking about- we have 40-year-old aircraft.

00:40:26.180 The money we spend, the maintenance we spend on those planes to keep them tippy-top is astronomical.

00:40:32.220 You wouldn't even believe it.

00:40:33.740 So I think it's a great gesture from Qatar.

00:40:36.680 I appreciate it very much.

00:40:39.280 I would never be one to turn down that kind of an offer. 0.97

00:40:43.460 I mean, I could be a stupid person and say, no, we don't want a free, very expensive airplane. 0.95

00:40:48.840 But it was- I thought it was a great gesture, and I think it was a gesture because of the fact that we have helped and continue to. 0.98

00:40:56.780 We will continue to.

00:40:58.940 All of those countries, Saudi Arabia, UAE, Qatar, and others, we keep them safe.

00:41:05.960 If it wasn't for us, they probably wouldn't exist right now.

00:41:08.700 And I think this was just a gesture of good faith, and I don't get it.

00:41:14.120 Someday it'll be like Ronald Reagan.

00:41:16.180 They decommission them.

00:41:17.060 You know, they get to a certain age, they decommission them.

00:41:19.700 It'll go to my library.

00:41:21.220 They're talking about going to my library in years out.

00:41:25.120 But I thought it was a great gesture, and it's something that was done by Ronald Reagan.

00:41:30.220 They actually decommissioned the plane, and he put it in his library, and it actually has made the library, I think a Boeing 707,

00:41:37.660 it's actually made the library more successful.

00:41:40.860 So it was good.

00:41:41.460 Do you plan to use it?

00:41:42.360 Do you plan to use the plane after you leave office?

00:41:45.200 No, I don't, no.

00:41:46.020 It would go directly to the library after I leave office.

00:41:49.760 I wouldn't be using it, no.

00:41:51.760 Mr. President, on the hostage, you said that the release of the American hostage, Adam Alexander,

00:41:58.160 is a step in good faith to end this war.

00:42:01.280 Do you expect any progress, perhaps announcement on ceasefire during your trip to the Middle East?

00:42:07.520 We hope that we're going to have other hostages released, too, as you know.

00:42:11.620 So when I met with the hostages three weeks ago that were there for quite a while, you remember the 10 people that came in, mostly young people.

00:42:19.160 One or two were a little bit older.

00:42:20.680 They went, they were explaining the trials and tribulations.

00:42:24.860 I mean, they went through hell.

00:42:26.740 And I said, how many are there?

00:42:28.120 They said, 59.

00:42:29.840 I said, that's a lot.

00:42:31.120 I didn't realize, because we got a lot out.

00:42:32.780 You know, we got a lot of hostages out, I think you will acknowledge.

00:42:35.540 They said, 59, but then they said, they followed that up by saying, 59, of which 24 are living, the rest are dead.

00:42:43.940 But the people whose son, mostly son, I think one daughter in this case, but mostly sons are there, or husbands, are there.

00:42:53.880 Those people want the dead bodies as much as they want the live body. 0.98

00:42:57.720 I was, I have a mother that calls me, but came up to me when I first met her, and she said, sir, please, please get my son out.

00:43:06.960 He's dead, but they have his body.

00:43:09.440 And I asked her about that, and it's as though he were alive.

00:43:13.840 The level of wanting that body back is the same.

00:43:18.620 It couldn't be anymore, as though he were alive.

00:43:21.860 So, you know, getting the bodies back is very important.

00:43:24.880 It could be a thing having to do with a religion.

00:43:28.040 It could be, I was, I was amazed at the level of importance.

00:43:32.380 It's the same as if the son or husband or whatever was alive.

00:43:36.580 So, they said, 59.

00:43:38.720 In fact, they came out, they came in with a number, 59, written out on, like, a sign on their chest.

00:43:43.440 But they came to thank me for getting them out.

00:43:46.560 And I said, what does the 59 mean?

00:43:50.580 They said, well, that means there are 59 people.

00:43:52.560 But then they said, but 24 are living.

00:43:56.060 Now it's 21.

00:43:56.980 The number is 21.

00:43:57.940 So, now it's actually, well, we'll get Etan today.

00:44:01.900 We think we're getting him today.

00:44:03.240 So, it's 20.

00:44:04.220 So, they have 20 live hostages there.

00:44:06.300 The rest are dead bodies.

00:44:07.560 Mr. President, are you open to negotiating your tariffs on cars, steel, and aluminum with China or any other country?

00:44:15.440 Well, we're not even talking about that.

00:44:18.160 We're bringing the car back, business back into this country. 0.99

00:44:21.080 We have commitments, not only commitments.

00:44:23.440 They've already started construction on many plants.

00:44:26.440 They've left Mexico in a few cases.

00:44:29.440 In a few cases, they've left Canada.

00:44:31.060 They're not going to build in Canada.

00:44:32.140 They're going to build here.

00:44:32.900 Because we have the market and the tariffs have been amazing.

00:44:37.400 The election and the tariffs.

00:44:38.740 November 5th was a big day.

00:44:40.360 And on top of that, of course, you wouldn't have the tariffs without the election, I guess, if you look at it.

00:44:45.060 But we have at least 11 committed massive car factories that are going to be built, that are going to be, that are in the process of being built.

00:44:57.420 And some are going through, some have actually started.

00:45:00.340 We also have renovations of existing factories where they weren't utilizing the full factory from years gone by.

00:45:07.640 And now they're under full renovation.

00:45:09.560 They'll be opening up full factories in a very short period of time.

00:45:12.140 Our car industry, I think we're going to have the number one industry.

00:45:15.580 You know, if you look at Japan and these others, they do tremendously with cars.

00:45:20.260 And they can do that, too.

00:45:22.600 But, you know, if they want to sell cars in the United States, they're going to have to build factories in the United States.

00:45:28.080 Because I'm interested in cars for the United States.

00:45:30.600 Now, one other thing is, in our tax bill, we're giving not only no tax on tips, no tax on Social Security, no tax on overtime.

00:45:38.700 But also, we're going to get a deduction for people that borrow money to buy a car, if, if it's made in America.

00:45:47.720 If it's not, we have no interest.

00:45:49.480 If I felt it would be important toward getting the deal done, I'm the one that insisted on the meeting.

00:46:05.880 They couldn't get a meeting because one said ceasefire, one said no ceasefire, was going back and forth.

00:46:11.160 I said, look, at this point, we've got to stop it.

00:46:15.000 Just go to the meeting.

00:46:15.980 The meeting has been set.

00:46:17.440 Go to the meeting on Thursday.

00:46:18.860 And if I thought it would be helpful, I don't know where I'm going to be at that particular point.

00:46:23.380 I'll be someplace in the Middle East, but I would fly there if I thought it would be helpful.

00:46:27.320 Yeah, please.

00:46:27.840 Dozens of Afrikaners who claim discrimination in their home country are heading to the United States, where your administration is going to welcome them as refugees.

00:46:40.880 Now, this comes as you've halted virtually all refugee admissions for people to claim famine and war through countries like Sudan, the Democratic Republic of Congo.

00:46:49.580 Why are you creating an expedited path into the country for Afrikaners but not others? 0.78

00:46:54.580 Because they're being killed, and we don't want to see people be killed.

00:46:59.940 Now, South Africa leadership is coming to see me, I understand, sometime next week.

00:47:05.400 And, you know, we're supposed to have, I guess, a G20 meeting there or something.

00:47:10.520 But we're having a G20 meeting.

00:47:12.120 I don't know how we can go unless that situation is taken care of.

00:47:15.820 But it's a genocide that's taking place that you people don't want to write about.

00:47:19.420 But it's a terrible thing that's taking place.

00:47:21.600 And farmers are being killed. 0.99

00:47:26.040 They happen to be white. 0.99

00:47:27.900 But whether they're white or black makes no difference to me. 0.98

00:47:31.060 But white farmers are being brutally killed, and their land is being confiscated in South Africa. 0.70

00:47:37.420 And the newspapers and the media, television media, doesn't even talk about it.

00:47:42.460 If it were the other way around, they'd talk about it.

00:47:44.580 That would be the only story they'd talk about.

00:47:47.080 And I don't care who they are.

00:47:49.560 I don't care about their race, their color.

00:47:51.620 I don't care about their height, their weight.

00:47:53.520 I don't care about anything.

00:47:54.500 I just know that what's happening is terrible.

00:47:57.100 I have people that live in South Africa.

00:47:59.520 They say it's a terrible situation taking place.

00:48:01.680 So we've essentially extended citizenship to those people to escape from that violence and come here. 0.68

00:48:10.060 Yeah.

00:48:10.560 Mr. President, thank you.

00:48:14.700 Are you letting China off the hook for these 90 days? 0.98

00:48:17.400 And do you really believe that they will follow through with non-tariff barriers and remove those?

00:48:22.380 Non-monetary tariffs, yeah.

00:48:24.040 Yeah, I think they're going to follow through.

00:48:25.340 I think they want it very badly.

00:48:26.640 I think they want the deal very badly.

00:48:28.560 Again, this doesn't include the steel tariffs that I put on a long time ago that Biden tried to get off, but he couldn't get them off because it was too much money.

00:48:36.060 You know, I took in hundreds of billions of dollars from China, which a lot of people don't know, but we put on the tariffs originally.

00:48:41.760 And if I didn't do that, we wouldn't have a steel industry today.

00:48:44.260 Now we have a thriving steel industry.

00:48:46.800 It'll be thriving much more with what we're doing because this is the next level, but it doesn't include that, doesn't include cars, doesn't include pharmaceuticals when we do that.

00:48:55.940 And the reason we're doing that will be to get them to come back in the country. 1.00

00:48:59.640 You know, there are, again, I always say it because a lot of people forget, but if a company like Eli Lilly, which is making a massive investment in the United States right now, they're building many, many plants.

00:49:11.820 They've already started like seven of them, many plants, but they are not going to be tariffed.

00:49:19.420 There's no tariff cost.

00:49:20.600 So they're all doing that.

00:49:22.400 They're all coming back to the United States. 1.00

00:49:24.120 I mean, I'll tell you what, I hope I get the benefit of watching this because, as president, because, you know, it takes a little while to do this stuff.

00:49:32.980 And we're doing it early in the administration.

00:49:36.300 If you think of it, we have, I believe, if you look at the real total, it's over $10 trillion committed for plants and factories.

00:49:46.600 Other administrations haven't had $1 trillion over a four-year period, even over an eight-year period.

00:49:53.420 We have over $10 trillion committed in one form or the other over two months.

00:50:00.140 Give me a break.

00:50:00.740 I'm here to hear three, but let's give me a break on the first month.

00:50:04.380 We want to get acclimated.

00:50:06.100 But, you know, but if you think about it, it's really two months.

00:50:08.940 And so in two months, we have an investment already of over $10 trillion.

00:50:15.400 And other presidents haven't had that done over a year, over four years in some cases.

00:50:21.660 It's unprecedented.

00:50:23.760 There's never been anything like it.

00:50:25.000 It's a very exciting time in America.

00:50:27.800 Thank you very much, everybody.

00:50:29.000 Thank you.

00:50:29.540 Mr. President, are you ready to impose sanctions on Russia if Putin doesn't agree with the 30-day...

00:50:39.580 I have a feeling they're going to agree.

00:50:42.200 I do.

00:50:43.140 I have a feeling.

00:50:43.760 And even to other countries...

00:50:45.600 Let's see what happens.

00:50:46.480 Mr. President, in the United States...

00:50:49.480 Mr. President, in the United States is a historic executive order.

00:50:53.480 Keep the shot right there, gentlemen.

00:50:55.560 In studio today is my co-host, Jason Miller.

00:50:59.500 I think it's the best group ever assembled.

00:51:02.280 In terms of medical, I think you're going to see a tremendous cut.

00:51:06.120 I don't think.

00:51:06.780 I mean, I know you're going to see it in Medicaid and Medicare.

00:51:10.540 That cut will be massive because drugs are 50, 60 percent of the cost.

00:51:15.660 So Medicaid costs are going down and Medicare costs are going down because of what we're doing today.

00:51:21.720 And there's no...

00:51:23.260 It's not like, oh, gee, well, maybe it won't happen.

00:51:25.420 It's going to happen because the other countries have no choice.

00:51:28.440 Now, the drug companies are going to have to say, listen, if you don't pay more,

00:51:30.940 we're not going to give you the drug.

00:51:32.040 And they're willing to do that.

00:51:33.460 So that's it.

00:51:34.380 They have to...

00:51:35.380 We have to equalize.

00:51:36.680 How do you respond to the fact that this...

00:51:42.400 It's not price control.

00:51:43.320 No, no.

00:51:43.840 What was...

00:51:44.820 Price control is before.

00:51:47.140 If you want to talk about...

00:51:48.480 Price control is what they were doing.

00:51:50.520 They were making us pay.

00:51:51.920 They set a price.

00:51:52.860 And they said, here's what we're going to pay.

00:51:56.220 And anything else charge America. 1.00

00:52:00.480 Because at that time, they had a very stupid president. 1.00

00:52:03.080 And it really went crazy during the last four years. 1.00

00:52:05.440 And remember this.

00:52:07.340 The Democrats are the ones that allowed this to happen.

00:52:10.660 They were the ones that were the protector of this pricing system.

00:52:15.980 And I think it's going to be very hard.

00:52:17.980 You'll have to ask Democrats,

00:52:19.180 are they going to vote against the one great, big, beautiful deal

00:52:24.280 that's being negotiated now?

00:52:25.680 Tax cuts, et cetera.

00:52:27.260 We're now on top of the tax cuts and regulation cuts, all the things.

00:52:31.140 Now you're going to say that the price of your medicine

00:52:34.560 is going down by 60, 70, 80 percent.

00:52:37.840 You're going to vote against it?

00:52:39.120 I think a lot of Democrats are going to be forced to do something

00:52:42.800 that their leaders are going to beg them not to do,

00:52:45.420 and that's vote for the bill.

00:52:46.360 I don't see how they can vote against it.

00:52:48.060 How can they vote against it when drug prices,

00:52:50.360 drugs and pharmaceuticals are going to be down 70, 80 percent?

00:52:54.480 It's going to be very interesting.

00:52:55.740 Mr. President, what do you say to people

00:52:57.440 who view that luxury jet as a personal gift to you?

00:53:00.780 Why not leave it behind?

00:53:01.600 The President's your ABC fake news, right?

00:53:03.280 Why not leave it behind?

00:53:03.700 The Pressel- It's only ABC.

00:53:04.900 Well, a few of you would.

00:53:06.740 Let me tell you, you should be embarrassed asking that question.

00:53:11.180 They're giving us a free jet.

00:53:13.200 I could say, no, no, no, don't give us,

00:53:15.020 I want to pay you a billion or 400 million or whatever it is.

00:53:19.580 Or I could say, thank you very much.

00:53:22.300 You know, there was an old golfer named Sam Snead.

00:53:25.260 Did you ever hear of him?

00:53:26.140 He won 82 tournaments.

00:53:27.340 He was a great golfer.

00:53:29.040 And he had a motto, when they give you a putt,

00:53:32.140 you say, thank you very much.

00:53:33.340 You pick up your ball and you walk to the next hole. 1.00

00:53:35.540 A lot of people are stupid. 1.00

00:53:37.100 They say, no, no, I insist on putting it. 1.00

00:53:39.140 Then they putt it and they miss it.

00:53:41.860 And their partner gets angry at them.

00:53:43.660 You know what?

00:53:44.660 Remember that, Sam Snead.

00:53:46.640 When they give you a putt, you pick it up

00:53:48.320 and you walk to the next hole and you say, thank you very much.

00:53:51.280 Respectfully, sir, as a businessman,

00:53:53.520 some people may look at this and say,

00:53:55.200 have you ever been given a gift worth millions of dollars

00:53:58.300 and then not received anything?

00:53:59.460 It's not a gift to me.

00:54:00.200 It's a gift to the Department of Defense.

00:54:02.980 And you should know better because you've been embarrassed enough.

00:54:05.900 And so has your network. 0.95

00:54:06.940 Your network is a disaster. 0.91

00:54:08.240 ABC is a disaster.

00:54:09.760 Here is the bill.

00:54:10.920 Bobby, come on over here.

00:54:12.080 Now you're talking about.

00:54:13.500 This July, there is a global summit of BRICS nations in Rio de Janeiro.

00:54:25.180 The block of emerging superpowers, including China, Russia, India, and Persia,

00:54:30.960 are meeting with the goal of displacing the United States dollar as the global currency.

00:54:35.680 They're calling this the Rio Reset.

00:54:38.780 As BRICS nations push forward with their plans,

00:54:41.780 global demand for U.S. dollars will decrease,

00:54:44.300 bringing down the value of the dollar in your savings.

00:54:47.520 While this transition won't not happen overnight,

00:54:51.060 but trust me, it's going to start in Rio.

00:54:53.940 The Rio Reset in July marks a pivotal moment

00:54:56.880 when BRICS objectives move decisively from a theoretical possibility towards an inevitable reality.

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00:55:48.280 There's something happening with our farmland here in the United States

00:55:51.580 that isn't getting enough attention.

00:55:53.420 The Chinese have been buying up hundreds of thousands of acres of U.S. farmland. 0.99

00:55:59.180 They're also taking control over critical supply chains,

00:56:02.340 things like fertilizer, animal feed, and farming equipment.

00:56:05.880 Why?

00:56:06.740 It's not clear.

00:56:08.420 They're tightening their grip on global food production.

00:56:11.920 That is clear.

00:56:13.620 And if things go south and it could happen quickly,

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00:57:09.680 We can't control what the Chinese Communist Party does. 0.85

00:57:12.340 You can't control what China does. 0.90

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00:58:50.580 Thank you very much, everybody.

00:58:53.620 Mr. President, a quick question of all of you.

00:58:56.540 Thank you very much.

00:58:58.660 Okay, there's the president.

00:59:00.080 Absolute blockbuster today.

00:59:01.880 Started this morning at, there's the president.

00:59:03.800 Let's keep that shot right there. 0.97

00:59:06.440 My co-host from the beginning of the war room, Jason Miller, is in the house.

00:59:11.960 Jason, this started this morning with us at 3 a.m. Eastern time when Scott Besant stood to step to the microphones in Geneva about the trade deal.

00:59:22.060 What a morning it's been already.

00:59:23.280 Pretty historic.

00:59:24.400 Yeah, no, it's been huge.

00:59:25.440 And, Steve, I'll tell you, as I set my alarm to get up this morning to watch Secretary Besant and Ambassador Greer, which, you know, some people set their alarm to wake up and watch an Olympic team on the other side of the planet.

00:59:35.460 And so I come back into the room, my wife's like, what are you doing? 1.00

00:59:38.880 I'm like, I was watching the press conference with, the trade press conference in Geneva.

00:59:42.560 And she goes, who are you on the phone with?

00:59:44.560 Steve Bannon.

00:59:45.680 She just looked and just like shook her head.

00:59:48.020 So that's how the day started.

00:59:49.500 But, Steve, I'd rather, you know, chat with you at 3 in the morning than anyone else.

00:59:54.400 About these topics, I mean, it's a big day.

00:59:57.060 This is a very historic day.

00:59:59.080 When you think about what has been done just today.

01:00:02.580 So, first of all, we talk about this historic trade deal with China, which, by the way, we still have the 50 percent tariffs on China.

01:00:10.940 And this still doesn't even count.

01:00:12.000 Explain that for a second, because I think there's some misinterpretation about the 10 percent going on the 90 days.

01:00:17.220 Let's talk about the reality, the hand that President Trump's playing and the cards he's playing very smart.

01:00:22.960 Number one, we have 50 percent tariff basically on China, on their goods.

01:00:26.700 Correct.

01:00:27.040 So it's the 20 percent that are from the first term.

01:00:28.840 From first term.

01:00:29.400 Which Biden couldn't even take off.

01:00:31.300 Exactly.

01:00:31.660 And now we know the atrophy, we'll get into this later, but how Biden, these guys just, even the Chinese said, we don't know what happened.

01:00:37.820 These guys couldn't even talk to them.

01:00:39.380 That 20.

01:00:40.260 Plus a 20, the fentanyl.

01:00:41.520 The fentanyl 20.

01:00:42.480 Yep.

01:00:43.160 Plus then the 10 percent that we talked about, the universal baseline tariff.

01:00:47.240 So it's 50 percent on them, 10 percent that they have on us.

01:00:51.340 So right away, the president got them to take their way down.

01:00:54.160 Still, this does not even count the tariffs on strategic industries, whether it be semiconductors or automobiles or steel and aluminum, or as we start talking about pharmaceuticals.

01:01:04.320 So when we talk about what's the shift, the tectonic plate shift of what's already happening for not just jobs coming back to the U.S., not just foreign investment coming to the U.S., but also think about all the jobs and industries have moved away from China, whether they're going to other Southeast Asian countries or they're going to India.

01:01:20.200 You think of what's happening with Apple, for example.

01:01:22.640 The shift is starting to happen.

01:01:24.320 What Secretary Besant said with a strategic decoupling is exactly what it is.

01:01:29.300 So are we ever going to have the T-shirt industry back in the United States?

01:01:33.340 No, probably not.

01:01:34.440 But do we need to make our semiconductors here?

01:01:36.220 Do we need to make our AI servers here?

01:01:38.460 Things of this nature, of course.

01:01:40.060 Then you think of what the president just did.

01:01:41.600 Well, hang on for a second, because in the strategic decoupling, what – and we're going to play all this later, folks.

01:01:46.760 We've got all the clips.

01:01:48.200 I've got to use Jason where I got him because he's got a bolt.

01:01:51.780 What he said also in Geneva, he said it's the precision engineering, it's the precision manufacturing that we need to get back here.

01:01:59.460 That's the key thing.

01:02:00.300 And that's what the strategic – we're going to strategically decouple from that, bring those industries back.

01:02:05.340 Those are the high-value-added manufacturing jobs of the future.

01:02:08.340 Exactly.

01:02:08.680 So that's what we need, and that's what I think President Trump is doing.

01:02:12.080 Keep in mind, this is just with regard to China.

01:02:14.480 All the tariffs still remain when it comes to the EU, when it comes to other trading partners.

01:02:18.860 Of course, we've got the deal done with the UK, but President Trump is going to get wins from all these countries.

01:02:24.440 You just got back from Southeast Asia.

01:02:26.380 They're all looking, whether it's Japan, South Korea, Philippines, Vietnam, India, the big group of the East Asians, Indo-Pacific, Australia.

01:02:36.380 These are all stacked up that Besson is going to come back when he gets back from Saudi Arabia and start closing on it.

01:02:42.880 Yeah, and the other thing, too, is keep in mind it's not just these deals.

01:02:45.420 It's also the foreign investment.

01:02:47.140 So I had a roundtable with energy CEOs when I was in Japan.

01:02:51.300 They're going to be putting in tens of billions when it comes to whether it be Alaska or the Gulf states, various projects.

01:02:58.520 The other thing, too, Steve, that really jumped out at me when I was in Asia, everybody wants to be teamed up with the U.S.

01:03:03.760 They're begging to be teamed up with the U.S. 0.58

01:03:05.900 You spend time in both Singapore and Tokyo and Taipei.

01:03:11.040 I want to get to Taipei in a second.

01:03:12.960 In Singapore, because Singapore, since Hong Kong's been shut down from us, I mean, you and I, you spend a lot of time there.

01:03:19.560 Since that's been shut down from us, Singapore has become the new center of gravity on the financial, really the capital market outside of Tokyo in Asia.

01:03:26.200 It is.

01:03:26.620 That's where all the deals are being done.

01:03:27.900 So when you think about what's at the dead center of the quad, it's really it's Singapore.

01:03:31.540 Obviously, Singapore is not a member, but whether it's Australia, India, Japan, South Korea, ourselves, you think about all the key allies in the area.

01:03:40.700 Singapore's right at the dead center of all of it.

01:03:43.340 And these countries want to be teamed up with us.

01:03:46.580 That is that's where they want to be.

01:03:48.600 And the did you get any any pushback at all when President Trump kind of called guys out for the non tariff barriers, which is so key here.

01:03:55.640 It's just not the number.

01:03:56.480 It's a non tariff barriers.

01:03:57.960 Did you get any did anybody actually complain that?

01:04:01.080 Yeah, we that's unfair.

01:04:02.740 They all kind of admit that they've been doing this to block American exports.

01:04:06.920 Well, exactly.

01:04:07.460 I mean, you think about with Japan, with the currency manipulation.

01:04:10.860 I mean, you wouldn't think that Japan is a country that has serious issues with currency manipulation, but they do.

01:04:16.220 I mean, we kind of take for granted.

01:04:17.740 I think the the independence here, the Fed, I know sometimes the president likes to go in that tee up our man Jay Powell a little bit.

01:04:24.740 But having the independence of the Fed is a pretty important thing when you talk about global currency.

01:04:30.060 So they have to go and change some of these non tariff barriers.

01:04:32.960 There are a lot of sticky points, say, with with regard to Japan and agriculture is a big one.

01:04:38.540 But they have to if they want us to take their products, then they have to open up the market stars market up right now about a thousand points.

01:04:46.520 So it's up over forty two thousand.

01:04:49.160 So the mid-April blaring headlines every day from the left media that this is worse than 1929 or 1932 in the Great Depression.

01:04:57.740 That's kind of put to bed.

01:04:59.820 Gold is gold is down one hundred hundred bucks at thirty two thirty two hundred.

01:05:05.000 We told this is going to bounce around.

01:05:06.900 Ten year bond four point four.

01:05:09.560 But the ten years been been been edging up the market response to this so far is pretty positive.

01:05:16.520 It's been great.

01:05:17.380 But but again, it's not just that.

01:05:18.980 As you know, obviously, the past 30, 40 years, the wealth has all been created in the markets, but not with the working class.

01:05:25.200 But the wheels have been put in motion by President Trump to bring back these jobs, to look after these specific sectors.

01:05:31.360 This fundamental shift is on.

01:05:34.760 This is changing.

01:05:35.720 He is single handedly saving the U.S. auto industry.

01:05:38.920 He's single handedly bringing about the U.S. semiconductor industry as we see TSMC building their big facility.

01:05:45.900 And talk about when you were in Taipei.

01:05:48.260 What's the feeling over there?

01:05:49.760 Because that's like the danger zone.

01:05:51.560 It's it is a danger zone.

01:05:52.680 And they live in a world where in any moment China could go and make the move to to take it over.

01:05:59.020 And it's not just by the way, it's not just the chips.

01:06:01.820 It's the AI servers.

01:06:03.000 There are a number of things that go into the AI ecosystem that are critical coming out of Taipei.

01:06:07.720 And they're very concerned, as they should be.

01:06:10.860 And so they realize that they need to diversify.

01:06:13.460 They need to have operations.

01:06:15.540 They need they need a strong U.S. ally.

01:06:17.460 And you can tell just in talking to them, it's the first thing that comes up.

01:06:22.160 The you know, we're part of the decoupling crowd, right?

01:06:25.240 We're anti-CCP.

01:06:26.400 However, we understand the reality of the global economy.

01:06:30.040 We were a huge supporter of Lighthizer's two year effort to actually get a deal that integrated it all,

01:06:36.580 took care of all the original sins of the Chinese Communist Party as far as the economy goes for two years. 0.55

01:06:41.440 And then at the end of that, they kind of spit in President Trump's face and walked away from that deal.

01:06:45.720 We did get the skinny deal later, which is a part of this and the execution of it.

01:06:50.360 But how does President Trump now navigate?

01:06:53.600 It's because they're committed to a strategic decoupling.

01:06:56.960 What Besson said there was so important, a strategic decoupling on some, you know,

01:07:01.080 and particularly precision manufacturing, bringing manufacturing back, looking at jobs.

01:07:06.780 How do you you're not going to get that done in 90 days.

01:07:09.720 That's going to take a while.

01:07:11.060 And Jameson Greer is the perfect guy.

01:07:12.480 People don't understand. Ambassador Greer, who is at the microphone next to Scott today,

01:07:16.480 was with Secretary Besson the entire time.

01:07:18.960 He was the wingman for Lighthizer.

01:07:21.240 He was the deputy over there and he worked for two years.

01:07:23.480 This guy knows the Chinese as well as anybody except for maybe Peter Navarro.

01:07:27.880 How do you work through that?

01:07:29.680 Well, keep in mind that one of the things Secretary Besson said in that 3 a.m. press conference,

01:07:34.380 9 a.m. Geneva time, was that now we have the mechanism in place to even have these talks.

01:07:38.460 To have a process.

01:07:39.160 To have a process.

01:07:39.720 This is important people might not realize.

01:07:41.580 For the past four years with Joe Biden, not only did Biden not enforce the Trump deal,

01:07:46.860 they just steamrolled over.

01:07:48.560 They did not even have who is supposed to speak with whom.

01:07:51.660 How are you supposed to push forward on this?

01:07:53.180 Because Biden was, well, literally and figuratively asleep at the wheel this entire time.

01:07:58.000 Now they know who to talk to, how to go and do it.

01:08:00.460 That's an important point.

01:08:01.560 Even that's why.

01:08:02.420 That was the single biggest complaint that Besson told us today of the Chinese when they

01:08:06.420 first showed up to say, look, we need if this is going to be real, we need a process because

01:08:10.180 we haven't heard from you guys in four years, which is pretty stunning.

01:08:13.160 And by the way, it's not even just an examples such as trade.

01:08:16.060 I mean, when Steve Wyckoff told me that he was over doing some of the initial pre-inauguration

01:08:21.440 peace talks that the others that some of the players that were involved in that process

01:08:26.040 would just laugh and say, we don't even know if the people here talk to Joe Biden.

01:08:30.180 Joe Biden doesn't know who these people are.

01:08:32.380 Having people actually know who to talk to in these other governments or in these other

01:08:36.440 operations is the whole thing.

01:08:37.400 And a dealmaker is engaged.

01:08:39.040 I mean, look at this conference.

01:08:40.300 I know you've got a bolt.

01:08:41.620 Peace deals, trade deals, tax deals.

01:08:47.700 What else we got?

01:08:48.480 We got drug deals.

01:08:49.320 Drug deals.

01:08:50.440 This is monumental.

01:08:51.760 This was huge.

01:08:53.100 Everything that every politician going back my entire adult life has said that they were

01:08:57.560 going to do, which has never been done.

01:08:59.820 President Trump just did it today.

01:09:01.840 So effectively, these costs are going to be shifted back to the Europeans.

01:09:04.740 It's not going to be.

01:09:05.500 Well, this is what would happen is that we would pay the American people pay for the 0.53

01:09:09.020 intellectual property, the primary research at the universities as we get up to the drug

01:09:12.380 companies.

01:09:12.800 They'd have patents for a while.

01:09:13.960 And what they would do is they would we would basically underwrite the European nations

01:09:18.660 having a better deal than the American people and higher prices.

01:09:21.320 Trump just said, hey, look, guess what?

01:09:22.520 You're going to have to take your profits from Europe and you're going to have to plow them

01:09:25.300 back here because we're going to cut the prices.

01:09:26.820 We're going to give the American citizen most favored nation status, essentially.

01:09:30.980 Right.

01:09:31.460 Well, and that's exactly it.

01:09:32.960 I mean, there's we heard the examples from Secretary Kennedy, from Bhattacharya or McCary

01:09:38.340 or Dr. Oz.

01:09:39.220 They went through a list example after example of why will some other country they pay eight

01:09:44.360 dollars for this, but then we have to pay a thousand dollars.

01:09:47.060 And that's highway robbery.

01:09:48.020 And especially keep in mind when you're talking Medicaid, Medicare, this is taxpayer money.

01:09:53.880 That's why you have Dr. Oz, the head of CMS, who's up there talking about it, because

01:09:57.240 this is where this is where.

01:09:58.700 Why has this never been in all the years you've been here and have been on the Republican

01:10:01.800 politics side, why the Oval Office in the Roosevelt Room, that whole West Wing, has been bought

01:10:10.480 and paid for by Big Pharma?

01:10:12.180 Why has this never been done except for today?

01:10:14.500 Because Big Pharma's got a big checkbook.

01:10:16.420 And you think about, Steve, the structural reform of something like this.

01:10:20.380 This is how you bring things like this, they bring down the cost of entitlements by going

01:10:25.140 and having smart deals.

01:10:26.360 This is his comments about Medicaid and Medicare.

01:10:28.260 Yes.

01:10:28.820 So this is because we all know that entitlement growth is the thing that's absolutely blown

01:10:33.060 up the budget.

01:10:33.780 Obviously, President Trump has said that we're not going to cut entitlement benefits, but

01:10:37.080 you can do it smarter.

01:10:38.020 You can do it more efficient in the amount of money that we can save just from something

01:10:41.940 like this blows away even some of the much hyped up savings that we found so far in

01:10:47.480 this administration.

01:10:48.680 This is the bazooka blast.

01:10:50.400 What he's doing is so smart.

01:10:52.640 He's going after foundational elements that drive costs to the American people.

01:10:57.340 Energy prices are coming down.

01:10:58.880 The drug prices are going to come down.

01:11:00.280 The cost of living is essentially going to come down, right?

01:11:02.780 And this is where he's going to get economic traction to do other things.

01:11:07.060 But he's going after, of course, folks, the things he's doing behind the scenes eventually

01:11:12.640 become policy.

01:11:13.600 And this is what I love when he just comes in and takes an hour and just takes questions

01:11:16.840 from the media.

01:11:17.380 It is so powerful in rewiring not just the global economy and the commercial relationships

01:11:24.180 of the American people and the country, but the entire way the nation works.

01:11:28.520 Now, and exactly, even when it comes to the tax bill, I know the first draft of it might

01:11:32.260 have had a couple of omissions.

01:11:33.780 But you and I, I mean, he's going to get it done.

01:11:36.060 Yeah.

01:11:36.180 We saw it.

01:11:36.800 It was a little, the thing put out Friday night.

01:11:38.460 It was a little light.

01:11:39.540 Right.

01:11:40.280 But the energy costs coming down, the cost of prescription drugs coming down.

01:11:45.020 We look at the taxes coming down.

01:11:48.500 I mean, so much of this is coming to play.

01:11:50.200 And also, we're, he's single-handedly saved the U.S. auto industry.

01:11:54.300 I mean, the trajectory of the U.S. auto industry is going to be kaput.

01:11:57.600 You see right now, you see what's happening in Germany, for example.

01:12:00.780 I mean, the Chinese have come and completely eaten Germany's lunch. 1.00

01:12:04.520 In the middle, what they call the middle companies, right in the middle.

01:12:07.640 Well, the Chinese took them off in the crushing. 0.99

01:12:09.860 They took them out.

01:12:10.660 I mean, their industry, their manufacturing base is wrecked.

01:12:13.820 Plus, they've gotten themselves in the pickle with energy.

01:12:15.820 They cut off the Russians. 1.00

01:12:16.780 They turn off the nukes and the coal plants.

01:12:19.720 And then, I guess, they just pedal their bikes to work.

01:12:22.040 I don't know what Germany is even doing anymore.

01:12:23.560 The new Portugal and Spain, they're going to have a couple of dark days. 1.00

01:12:27.260 And some of those Mike Bloomberg bike lanes for Germany because no more energy.

01:12:30.620 But they're going to go and turn that around.

01:12:32.200 I think Mertz and some of the others, at least they'll be better than Olaf Scholz from before.

01:12:35.680 But the fact of the matter is President Trump said it's going to take a little bit of time.

01:12:40.940 We're going to get there.

01:12:41.960 Secretary Besant said you've got to look at the regulatory changes.

01:12:45.280 You've got to look at the tax changes.

01:12:46.660 You've got to look at the trade changes.

01:12:48.000 This is all part of one pie.

01:12:49.420 It's one part of an ecosystem that when Scott and Besant and Trump are talking about bringing these jobs back,

01:12:55.100 you're going to have a better regulatory environment, better energy environment, better ecosystem built up.

01:13:00.460 Infrastructure will be in a complete package.

01:13:02.140 That's not just tariffs.

01:13:03.840 That will be a big part of it.

01:13:04.900 That's why jobs are going to come back.

01:13:06.440 And today with this drug pricing deal, for President Trump to do this, Steve, your point was so spot on.

01:13:13.560 For literally decades, politicians have talked about doing this.

01:13:17.260 They've always been chicken because pharma has a big checkbook.

01:13:20.100 Well, guess what?

01:13:20.700 President Trump just said and even started off by saying, hey, I know these guys kicked in a lot of money.

01:13:26.520 But you know what?

01:13:27.020 This is about the American people.

01:13:28.040 It's so heroic, what he's done with big tech, the oligarchs and what he's done here.

01:13:32.160 Also, Bobby Kennedy, I got to hear a Democrat response to what Bobby Kennedy said.

01:13:37.160 Bobby Kennedy is Democratic Party royalty.

01:13:39.580 And Bobby Kennedy says he's worked his entire adult life for this.

01:13:42.460 It's never happened.

01:13:43.420 And he said he called out Bernie Sanders by name.

01:13:46.120 He said, Bernie Sanders, this is what you stood for.

01:13:48.100 Biden didn't do it.

01:13:48.940 They had every opportunity to do this in Biden's term and nothing happened.

01:13:51.900 No.

01:13:52.120 Meanwhile, that's why you see the Democratic Party in such disarray.

01:13:54.620 I mean, as you have Mayor Pete and Jasmine Crockett and the rest of the all-stars that are leading that party.

01:13:59.640 It's not serious.

01:14:00.700 It's not serious.

01:14:01.700 Bob Reich wrote a great piece in The Guardian about a populist economic left.

01:14:06.360 It's a cry for help.

01:14:08.320 I only got you a few more minutes.

01:14:10.180 The one we haven't covered is peace deals.

01:14:12.580 A bombshell right there on Turkey, right?

01:14:14.880 Because Turkey, you've got the Ukraine peace negotiations that Erdogan is going to host on Thursday.

01:14:21.020 The president showed a little ankle there.

01:14:22.820 Do you think a possibility that President Trump could be in Istanbul?

01:14:25.720 Boy, I can only imagine Sean Kern sweating as he heard that.

01:14:28.720 Sean, of course, being the head of the Secret Service.

01:14:31.700 No problem securing that.

01:14:33.540 Hey, boss, what are you doing to me here?

01:14:35.720 But no, but this is it's only coming about because of President Trump.

01:14:39.000 And this is the thing.

01:14:39.700 It's the force of personality.

01:14:41.400 It's the knowing how to use the big bazooka blast to get engaged, get them engaged.

01:14:47.180 Because, Steve, there was nothing that was going to change the trajectory of this war if it wasn't for President Trump.

01:14:53.280 And from the beginning, President Trump had the messaging on this so perfect.

01:14:57.040 We have to stop the killing.

01:14:58.860 Everyone else comes in there arguing about a province here, a region here.

01:15:02.560 We've got to get this land.

01:15:03.640 Or they're trying to define who wins.

01:15:05.440 No, no, no.

01:15:05.860 This is about stopping the killing.

01:15:07.240 The other thing that people forget, when you have the destabilization between Russia and Ukraine, what that does is that kills business investment, whether it be not just in Central and Eastern Europe, but really in all of Europe.

01:15:20.280 People get nervous about what's going on.

01:15:22.240 It changes what's happening with the global oil and energy supply.

01:15:26.100 The market's there.

01:15:27.300 It really has folks clenching up and not wanting to go and spend or invest money.

01:15:31.300 You get that saved, people start deploying capital again, and the global economy will be much better off.

01:15:37.900 I tell people in the second hundred days, and we're going to see the summer, is the convergence of crises now.

01:15:43.080 You've got the first, I believe, is the only thing that Democrats got going from it is this radical judicial supremacy, right?

01:15:50.800 Something's going to have to happen between now and the time the court leaves at the end of June, correct?

01:15:54.580 We're going to have to have some resolution to these judges stepping in between because to delay is to deny, right?

01:16:02.560 And that's obviously what they're trying to do.

01:16:04.320 Make us smart on the convert.

01:16:05.340 You've got the debt ceiling comes due in the first couple weeks of August.

01:16:09.520 You've got the big, beautiful bill, how that lumber's through here.

01:16:12.000 You've got the mass deportations, the court situation, plus the kinetic part of the third world trying to balance all these different zones of conflict.

01:16:19.800 Now Kashmir and Pakistan thrown in there. 0.99

01:16:21.620 Make us smart the next hundred days or so.

01:16:24.980 How does Jason Miller look at this?

01:16:27.040 So obviously watching all the trade deals, I think the administration is pretty darn close on a few others.

01:16:32.200 They'll be ready to be announced, which is good.

01:16:34.460 The C-Sation, the big ones, the Japans, the Koreas, the Indias. 1.00

01:16:38.140 There'll be several more that are coming.

01:16:40.240 So that's going to be continued progress.

01:16:42.080 The big, beautiful bill, look, I know everyone's optimistic we're going to get it done in July.

01:16:46.920 I hope it's July before the August recess just because of the debt ceiling.

01:16:50.020 I'm a September guy on that.

01:16:51.120 I'm probably a September guy.

01:16:52.340 That's just realistically, I mean, there's a—

01:16:54.480 Scott's going to have to learn to stretch the debt ceiling.

01:16:56.340 Yeah, it's going to—

01:16:57.460 Priority payments.

01:16:58.360 Yeah, exactly.

01:16:58.740 Yeah, priority payments.

01:16:59.920 Get it in, you get a 10 percent discount.

01:17:02.180 So that's an issue.

01:17:03.240 But the thing that I'm really paying attention to, Steve, is the constitutional crisis that I think this country is coming up on.

01:17:08.380 The fact that you have these rogue circuit court judges that can go and put a temporary restraining order—

01:17:15.400 Like on Friday, 21 agencies, president can't touch some judge and a Clinton appointee in San Francisco.

01:17:20.940 Exactly.

01:17:21.380 There will be some Biden appointee in Rhode Island or some blue state, some Democrat-appointed judge.

01:17:26.600 Then that holds for the entire country.

01:17:28.860 That is not the equal balance of power.

01:17:31.540 Do you believe that, as I've been saying now, that the court leaves the last week of June.

01:17:35.820 They come back in the first week of October.

01:17:38.380 This has to—this part of it has to be resolved.

01:17:41.240 You can't have a summer with this open where these judges are still making these decisions and stopping the deportations of these criminal terrorists?

01:17:48.740 It is. I mean, in many ways, I think I said this once before, that effectively they just traded their pink hats for black robes.

01:17:56.760 This is the new resistance.

01:17:58.320 This is how they're trying to stop President Trump.

01:18:00.240 The Democrat Party is a complete mess.

01:18:01.800 They have no idea what they're doing.

01:18:03.120 But they look and they say, you know what?

01:18:04.620 This is how we'll throw the refrigerator on the train track by having these rogue out-of-control judges. 1.00

01:18:10.860 President Trump, one of his closest advisors, Jason Miller, where do people go on social media to get you?

01:18:15.940 Absolutely. You can find me on X.

01:18:18.220 Do we call it X now? Twitter, at Jason Miller, at Jason Miller in D.C.

01:18:22.180 And pretty much every other—

01:18:23.320 And you're pretty selective now in your TV appearances.

01:18:25.680 Once you were doing all the CNN because you had a deal over there, but now you're pretty selective where you go, right?

01:18:30.700 Yeah. I'll get out there either when President Trump needs another advocate or if there's something that I'm passionate on.

01:18:36.100 Today's a perfect example.

01:18:37.480 I mean, how many historical things are happening?

01:18:39.140 No, no. Three o'clock in the morning.

01:18:40.480 Nobody better to talk to than Jason Miller, our original co-host here with Raheem in the room.

01:18:45.720 Jason, thank you so much, and thank you for hanging around. Just fantastic.

01:18:48.800 Short commercial break. We're going to return to the War of Man. 0.93

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01:19:01.780 Take a short commercial break.

01:19:03.040 Jason Miller, thank you so much, brother.

01:19:04.240 Thank you.

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Bannon's War Room - May 12, 2025

Episode 4478： Trump Drops Hammer On Pharmaceutical Companies

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