00:00What's the threshold in terms of reducing certain regulations in Europe on U.S. tech companies that's required in order to create some sort of framework for this deal?
00:12Well, what the European Union does is they say, well, our digital rules, they only touch companies above a certain threshold.
00:21Of course, the only companies above those thresholds are all American companies.
00:25So come on. That can't be the rule.
00:28Let's take it off. Let's let's settle the outstanding cases against Google and against Microsoft and against Amazon.
00:35Let's put them behind us. Let's come up with a reasonable framework where these companies can grow and build.
00:41And then those companies will agree to invest hundreds of billions of dollars of data centers here.
00:49So the idea is if they take their foot off this regulatory framework and make it more inviting for our companies, they can get the benefit of hundreds of billions, possibly a trillion dollars of investment a year.
01:03So the idea is I'm trying to convince them that winning the way Donald Trump is winning in America is the way to go.
01:10Look at America. Look at these growth rates. Come on.
01:14Do you realize our investment in AI CapEx last quarter exceeded consumer spending in America?
01:22We had 3.8 percent GDP growth. We're going to grow over 4 percent.
01:26And next year we can grow over 5 percent.
01:30You've got to embrace what's coming.
01:32The AI world is coming. Come on. Embrace it.
01:36That's what we're here doing, trying to bring and make our deal with Europe, which was a great deal done by Donald Trump.
01:43Let's make that deal better.
01:44Secretary Lutnick, just on that point and point taken on what you see as the benefit to embracing that tech,
01:51but the EU over and over again has insisted that its digital laws are not up for discussion.
01:57Are you seeing any sort of relenting from them as you've been pushing it?
02:01Does it seem like they would agree to you on this point?
02:06Well, you know, I see a lot of ministers.
02:09Remember, there's 27 countries, so some are more open-minded than others.
02:14But, you know, it's a process, which is talking to them and telling them that if they want to get that kind of investment here,
02:22they've got to change the model.
02:24So there's the carrot and the stick.
02:27You know, if you keep taxing these companies, they're not going to give you the investment.
02:31So that's my job, to sort of talk about it, help those American companies find their way clear to invest here and to grow here.
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