00:00In addition, yesterday we achieved a total reset with China after productive talks in
00:07Geneva.
00:09Both sides now agree to reduce the tariffs imposed after April 2nd to 10% for 90 days
00:16as negotiators continue in the larger structural issues.
00:21And I want to tell you that a couple of things, first of all, that doesn't include the tariffs
00:26that are already on, that are our tariffs, and it doesn't include tariffs on cars, steel,
00:32aluminum, things such as that, or tariffs that may be imposed on pharmaceuticals because
00:38we want to bring the pharmaceutical businesses back to the United States, and they're already
00:43starting to come back now based on tariffs because they don't want to pay 25, 50, or
00:48100% tariffs, so they're moving them back to the United States.
00:52I spoke to Tim Cook this morning, and he's going to, I think, even up his numbers, $500
01:00billion.
01:01He's going to be building a lot of plants in the United States for Apple, and we look forward
01:07to that.
01:08I really do look forward to that.
01:11But the talks in Geneva were very friendly.
01:15The relationship is very good.
01:18We're not looking to hurt China.
01:19China was being hurt very badly.
01:21They were closing up factories.
01:23They were having a lot of unrest, and they were very happy to be able to do something
01:28with us.
01:30And the relationship is very, very good.
01:32I'll speak to President Xi maybe at the end of the week.
01:36We have some other things we're doing.
01:38But one of the biggest things that we're doing, and I don't know if people realize this, but
01:45we made a great deal with China, a great trade deal.
01:49But it was a much bigger deal originally, and then they canceled it right in the last day.
01:54Some of you faces, I remember, were there when that happened.
01:57And I remember you, and we had a deal where they opened up their country to trade with the United
02:03States.
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