00:00And because of what we're doing economically and through tariffs and taxes and incentives,
00:05they want to come back into the United States.
00:08As you know, when they come into the United States and they have their plant or factory
00:12here, there is no tariff.
00:14So we want to give them a little bit of a chance.
00:16Well, they did already, as I understand it, reduce their car tariff all the way down to
00:20what we have.
00:21And a lot of that will take place, and I think some won't do it and some will do it.
00:25But the EU had a 10 percent tax on cars.
00:28It's called reciprocal, actually.
00:30You know, the EU has been very unfair to us.
00:32We have a deficit of $350 billion.
00:34They don't take our cars.
00:36They don't take our farm products.
00:38They don't take almost anything.
00:40They take very little.
00:41That was the primary purpose of this conference, to explain that they are all very important
00:47in their own way.
00:48Fertilization, I've been saying that we're going to do what we have to do.
00:53And I think the women and families, husbands, are very appreciative of it.
00:59But that was it.
01:00I do want to say, while I'm up here, I've been contacted by some of the biggest companies
01:04in the world.
01:06And because of what we're doing economically and through tariffs and taxes and incentives,
01:10they want to come back into the United States.
01:14And we'll be announcing various very large companies, the biggest, actually.
01:18And they'll be coming back, having to do with chips and having to do also with cars
01:24and lots of other things.
01:25We're going to be announcing some very, very big, very big, momentous, I think, momentous
01:32decisions are being made by companies all around the world, the biggest.
01:36And they want to come back into the U.S.
01:39Car plants are being canceled in other locations now because they want to build them here.
01:44And you read about a couple, not that I want to mention names or anything, but you read
01:47about a couple of big ones in Mexico just got canceled because they're going to be building
01:51them in the United States.
01:53And that's very simply because of what we're doing with respect to taxes, tariffs, and
01:56incentives.
01:58And I think it's a very important thing.
02:01And you'll be seeing this over the next, probably over the next two years, to be honest.
02:06But you're going to see a lot of it over the next couple of weeks.
02:08A lot of big ones are going to be announcing.
02:11And so while we're here, I guess we can take a couple of quick questions.
02:15Go ahead, please.
02:16Please.
02:17Mr. President, have you decided specifically what the auto tariff rate should be?
02:22Yeah, I probably will tell you that in on April 2nd, but it'll be in the neighborhood
02:27of 25 percent.
02:28What about with any conductors and pharmaceuticals?
02:31It'll be 25 percent and higher, and it'll go very substantially higher over a course
02:35of a year.
02:37But we want to give them time to come in because, as you know, when they come into the United
02:40States and they have their plant or factory here, there is no tariff.
02:45So we want to give them a little bit of a chance.
02:47Yes.
02:49The EU.
02:50I'm sorry.
02:51Andrea Shalom.
02:52The EU representative is going to be here in Washington next week.
02:56I'm sorry, tomorrow.
02:57He's going to be meeting with Hassett and Greer and Letnik.
03:01What can the EU do to sort of avoid the reciprocal tariffs that you've talked about?
03:08And you know, you've talked a lot about the VAT.
03:10Do you expect them to reduce that?
03:13Well, they did already, as I understand it, reduce their car tariff all the way down to
03:17what we have.
03:18And a lot of that will take place, and I think some won't do it and some will do it.
03:22But the EU had a 10 percent tax on cars, and now they have a two and a half percent tax,
03:27which is the exact same as us.
03:28So already we've saved a tremendous amount.
03:30That would be great.
03:31If everybody would do that, then we'd all be on the same playing field.
03:35Because essentially what we're doing with the tariffs is, you know, they charge us,
03:39we charge them same amount.
03:41And it's called reciprocal, actually.
03:45And whatever they charge us, we're charging them.
03:47And so the EU is, you know, I appreciate that they did this.
03:51But you know, the EU has been very unfair to us.
03:53We have a deficit of $350 billion.
03:56They don't take our cars.
03:57They don't take our farm products.
03:59They don't take almost anything.
04:01They take very little.
04:03And we're going to have to straighten that out.
04:04And we will.
04:05I have no doubt about it.
04:06Don't miss out.
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