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00:00:00Letters make room.
00:00:02Letters make room.
00:00:06The skills are the things.
00:00:09We don't know what to do.
00:00:13This is what you do.
00:00:14I already go with a mic path,
00:00:16how many times you've done that?
00:00:18It's a lot of, too many.
00:00:21Did you get used to it?
00:00:23Yeah, you get used to it.
00:00:25We have to be careful.
00:00:28Every question is ahead of time.
00:00:30With you?
00:00:31Yeah.
00:00:32The President of the United States of America,
00:00:35and he has a picture of him with President Trump
00:00:37when he was 200 years old.
00:00:39And that would be the story.
00:00:41Could he not have a picture?
00:00:43By the way, the President holds it.
00:00:46Good guy.
00:00:49Are you all set?
00:00:50All set, sir.
00:00:51Well, thank you very much.
00:00:52And today, I'm thrilled to announce that one of the
00:00:56most respected pharmaceutical companies
00:00:58anywhere in the world, frankly, I know it very well,
00:01:01is Regeneron.
00:01:02And it's agreed to offer their prescription medications
00:01:05at heavily discounted Most Favored Nation prices.
00:01:08In other words, their numbers will come down at levels
00:01:12that nobody has ever seen before.
00:01:14The whole Most Favored Nation thing that we've been able to do
00:01:17with Bobby and Maz and everybody behind me, Marty,
00:01:22has been incredible.
00:01:23It's the biggest price reduction in drugs in history.
00:01:26By itself, we should win the midterms,
00:01:28but it doesn't work that way, unfortunately.
00:01:31You know, it doesn't work that way.
00:01:33People forget too quickly, but we'll have the biggest â
00:01:36it's the biggest cut in drug prices in the history of our country
00:01:39by many percentage points.
00:01:41With this announcement, 17 of the world's largest pharmaceutical companies,
00:01:46representing 80 percent of the branded drug market,
00:01:49have now agreed to sell their drugs to American patients
00:01:52at the lowest prices anywhere in the world.
00:01:54We're going to have the lowest prices in the world.
00:01:56This will result in the largest drop in prescription drug prices
00:02:00in the history of the United States of America.
00:02:03I mean, that should be front-page news, but it won't be.
00:02:07It'll be back on page 19, but the people get it.
00:02:11That's why we're in the Oval Office, I guess.
00:02:13I want to thank Regeneron CEO, a friend of mine for a long time.
00:02:17Good guy, great guy.
00:02:18We're joined by CEO, Len Schleifer, and Chief Scientific Officer,
00:02:23George Yankopoulos, who are two fantastic people
00:02:27in the medical world, very respected.
00:02:30We're also joined by Secretary Robert F. Kennedy, Jr.
00:02:33Bobby, thank you.
00:02:35Secretary Howard Lepnick, Administrator of the Centers
00:02:39for Medicare and Medicaid Services.
00:02:41Dr. Mehmet Oz, who's doing a fantastic job.
00:02:44They all are.
00:02:46FDA Commissioner Marty McGarry and Chief Counselor
00:02:49of Health and Human Services, Chris Klump.
00:02:52Thanks, Chris.
00:02:53Great job you're doing, Chris, wherever you may be.
00:02:55Mr. Thank you, sir.
00:02:56The President for decades, Americans have been forced
00:03:00to pay the highest prices in the world for prescription drugs,
00:03:03by far.
00:03:05Prices that were many, many times what the rest of the world was paying.
00:03:10Because we had a President that didn't know what they were doing
00:03:12or they weren't able to get other countries to agree to it.
00:03:15I was able to do that because I used tariffs.
00:03:19I said, if you don't agree to it, we're going to put tariffs on your country.
00:03:22And they said, we would be honored to do it, sir,
00:03:25after telling everybody no, including me.
00:03:28But they agreed to do it.
00:03:29The United States is just 4 percent of the world's population
00:03:33and consumers only 13 percent of all prescription drugs.
00:03:37Yet pharmaceutical companies have been making 75 percent of their profits
00:03:41from American customers.
00:03:43So, think of that.
00:03:44With 4 percent of the population and doing only 13 percent of all prescription drugs,
00:03:51the companies make 75 percent made, I don't know, maybe, hopefully they continue.
00:03:56Because, actually, it's not as bad for them as it sounds.
00:04:00In fact, many of their stocks are up because, actually, when the price goes up on the one end,
00:04:05they make up for the price coming down in the United States.
00:04:08So, it really worked out pretty good.
00:04:10To address this chronic unfairness, I signed an executive order instructing my administration
00:04:15to do everything in our power to slash prescription drug prices for Americans
00:04:20while getting other countries to pay more, in many cases, much more.
00:04:25But their other prices doubled and sometimes they tripled.
00:04:29And ours would go down by 60, 70, 80 percent, even more.
00:04:33Today, we're building on our unprecedented success with Regeneron,
00:04:37committing to offer all new drugs moving forward at most favored nations' prices.
00:04:43They'll make their current drugs available to Medicaid and MFN, its most favored nation.
00:04:52Additionally, they'll also offer their current drug, Praluent,
00:04:57which is the lower cholesterol and fight heart disease to all consumers at dramatically lower costs.
00:05:04It'll come down from $537 to $225 and be available at TrumpRx.gov.
00:05:12I didn't put the name Bobby did and Oz did.
00:05:16It's true, actually.
00:05:18Remember, I came in, I said, what's this?
00:05:21But they said, it'll be better.
00:05:23It'll sell better.
00:05:24Would you help us?
00:05:25So, I now have my name on medication.
00:05:30But it's doing great.
00:05:31I hear it's setting records, actually.
00:05:33I was watching the other day.
00:05:36Mark Cuban, of all people, said, it's amazing what Trump has done with this.
00:05:41I can't believe when I heard him say that, I was sort of in a state of shock.
00:05:45But others have said it, too.
00:05:47This whole thing has turned out to be hot.
00:05:49So, that's TrumpRx.gov.
00:05:52The company will also invest $27 billion to build up research and development and pharmaceutical manufacturing here in America, which
00:06:01is a big thank you very much.
00:06:03Today, I'm also announcing that the FDA has just approved a new drug from Regeneron called Otarmony, a gene therapy
00:06:12curing a rare disease that causes deafness.
00:06:15You know, people are totally deaf, and it's amazing.
00:06:20I've seen some work on it.
00:06:22It's actually hard to believe we're going to talk about it in a minute.
00:06:25Normally, cures for rare diseases can cause millions of dollars, and really, the results aren't that good.
00:06:33But in this case, I'm pleased to say that Regeneron will be giving this away for free, for a period
00:06:39of time, for free.
00:06:40And here with us is two-year-old Travis Smith.
00:06:43He was born deaf.
00:06:45Was he totally deaf?
00:06:47No, pretty much.
00:06:48Yeah, 100 percent.
00:06:48This is 100 percent.
00:06:50He was 100 percent deaf.
00:06:52But he took this miracle cure, and now he can hear his mom, Sierra, say, I love you.
00:06:59And Sierra, could you maybe say a few words?
00:07:02That's really incredible.
00:07:03It's absolutely incredible.
00:07:05Regeneron works miracles.
00:07:09Yeah, he didn't know his name.
00:07:11He couldn't hear me tell him how much I love him.
00:07:14And now, with Regeneron and this amazing surgery, he can listen to music, and he loves it, and he loves
00:07:19to dance, and he loves instruments.
00:07:22And I'm so proud of him.
00:07:24He's been so brave through all of this.
00:07:26And yeah, now he can hear, and he has a bright future ahead of him, and I'm so thankful to
00:07:30everybody on the Regeneron team.
00:07:32Oh, that's incredible.
00:07:34I mean, even the fake news has to be impressed with him.
00:07:39They'll find a way to make it a bad story.
00:07:41He doesn't hear perfectly, but he actually does.
00:07:45It's about 1 percent off.
00:07:48They'll figure a way.
00:07:49How are you going to do it?
00:07:50You've got to explain.
00:07:50No, they're genius.
00:07:52They are genius.
00:07:53I respect them a lot.
00:07:54But I just want to thank you, Sarah.
00:07:56That's incredible.
00:07:57Thank you for having us.
00:07:58He's a beautiful person, too.
00:08:00That's a beautiful boy.
00:08:02Hi.
00:08:06His life is a happier life?
00:08:07Oh, yeah.
00:08:08He is so full of energy and love now, and he was such a serious baby.
00:08:12So you see such a difference.
00:08:13Yeah, he was such a serious baby.
00:08:15And before that, it's very tough.
00:08:18Oh, for sure.
00:08:19He can't tell me what he wants, or what he wants to eat, or what he needs.
00:08:22And now he'll be able to do that.
00:08:24Wow.
00:08:24It's life-changing.
00:08:25That's a great job they've done.
00:08:27I want to thank Regeneron and other companies for doing their part to bring down the cost
00:08:32of healthcare for all Americans under our most favored nation's agreement.
00:08:36We've secured gigantic discounts with price differences from 4 to 5 and even 600 percent.
00:08:43600 percent.
00:08:45One of the most popular weight loss drugs has gone from $1,350 a month to as low as $199
00:08:53a month.
00:08:54So that's a price that's incredible.
00:08:57So it used to sell in London for $87.
00:09:01And they raised it to $199, which is a big raise, you know, from $87 to $199.
00:09:09But that's been going on.
00:09:10Our country's been being ripped off for 30 years.
00:09:13How long would you say, Doug?
00:09:14Like 30, 40 years.
00:09:16For years, with drugs and drug prices.
00:09:19So they're going up.
00:09:21We're going way down.
00:09:22And because the world is a bigger place than we are, believe it or not, it's hard to believe
00:09:26that, but they are, that we go down much more than they go up.
00:09:30So they don't go up as much as people would have thought.
00:09:33So they're going from, they're going to $199 and we're going down all the way down.
00:09:39Think of that.
00:09:41We're going down from $1,350 a month to $199.
00:09:47That's, nobody would believe it.
00:09:49And this is true with all, I mean, this is the weight loss drug.
00:09:53But this is true with all drugs.
00:09:57Sometimes even more of a difference than that.
00:09:59Sometimes a little bit less, but sometimes substantially more than even that difference.
00:10:03And you see what that is.
00:10:04So we cut the per cycle cost of IVF drugs by thousands of dollars.
00:10:10And we reduced the price of the major COPD medication from $458 to $50.
00:10:19What?
00:10:21That must be a typo.
00:10:22Is that a typo?
00:10:25From $458 to $50.
00:10:28If your boy was here, he'd go, wow.
00:10:31Unless he got bored.
00:10:33I think he got bored.
00:10:34He wants to go into bigger and better things.
00:10:36But there's nothing bigger and better than this.
00:10:39They'll all be available right now at TrumpRx.gov.
00:10:42So it's, you know, that's why it's doing well.
00:10:44It's not doing well for other reasons.
00:10:46It's doing well.
00:10:47Think of that.
00:10:47That's some discount.
00:10:48But we have others.
00:10:49And these are all top companies and top medications.
00:10:53And I think in the end, we're going to have every company involved.
00:10:56We're almost there right now.
00:10:57But we're going to have every company involved.
00:10:59So TrumpRx has already received more than 15 million visitors.
00:11:03And every American should log on to check for massive discounts before they go to the pharmacy.
00:11:09It's setting a record.
00:11:09Nobody's ever seen anything like this.
00:11:12I've actually had many companies, I shouldn't tell you this, Bobby,
00:11:15but there have been many companies that say, sir, would like to buy from you if you could.
00:11:19What?
00:11:20TrumpRx.com.
00:11:21I said, it's not for sale.
00:11:22It's not me.
00:11:23It's the government.
00:11:23The government owns it.
00:11:25I don't own it.
00:11:26But they're all impressed.
00:11:27These pharmaceutical companies, they said they've never seen anything like this.
00:11:30So it's fantastic.
00:11:32Now, I'd like to ask Secretary Kennedy to say a few words.
00:11:35And then we'll have Dr. Raz, the team at Regeneron and Sierra.
00:11:41And Sierra, I'm so happy for you.
00:11:43And Chris Klopp has been unbelievable, a real star.
00:11:47You don't know his name as much as some of the others, but he's a real star of the group.
00:11:52So, Bobby, please, thank you.
00:11:55Thank you, Mr. President.
00:11:57I was reminded when the President was speaking of a conversation that I had yesterday with one of the Democratic
00:12:03senators,
00:12:04who was questioning me during a hearing.
00:12:07And she was ridiculing President Trump for his math.
00:12:10And she was saying, it's mathematically impossible to have a drug drop by 600% cost, which he had claimed.
00:12:19And I said, well, if the drug was $100, and it raised the price to $600, that would be a
00:12:25600% rise.
00:12:27Or if it drops from 600 to 100, that's a 600% savings rate.
00:12:32And the President used that mathematical device to illustrate the magnitude of the theft that has been happening against our
00:12:43country and our people.
00:12:44As he said, we have 4.2% of the world's population.
00:12:48We take 13% of the pharmaceutical drug.
00:12:52We spend 80% of the biotechnology research in our country.
00:12:57And we provide 75% of the profits to the pharmaceutical industry.
00:13:02This is a rip-off that has irked him for 20 years.
00:13:08During his first term, he held the line on drug prices for the first time in history.
00:13:13He came back on this term and he said, we're going to lower them this time, no matter what.
00:13:18There's people in this room or part of the White House staff who said, we can't do that.
00:13:24Oz and I said, we probably can't do that.
00:13:26But he harassed us. We were beleaguered.
00:13:29It was like Fort Apache.
00:13:32Dr. Oz would not answer his phone because he was calling all night long with the President on the line
00:13:39saying, get this, son.
00:13:41And we brought in this amazing superstar, Chris Klomp.
00:13:45And he negotiated these agreements that people said were impossible.
00:13:51I want to thank him for his leadership, Chris.
00:13:54And I want to thank George and Lynn, who are the co-founders of this country, this company of Regeneron,
00:14:02for their generosity, their idealism, their love of this country, and their compassion for these children who are injured.
00:14:09Thank you, Mark. Amazing. It is amazing.
00:14:11And you're right, it took a lot of heat. I'd say 500, 600, 700.
00:14:14But we also say sometimes 50%, 60%, different kind of calculation.
00:14:2170%, 80%, and 90%. And people understand that better.
00:14:25But there are two ways of calculating it.
00:14:27But either way, it doesn't make any difference, whether it's 60%, 70%, or 80%.
00:14:31Nobody's ever heard of it.
00:14:33But it's also 500, 600, 700, depending on the way you want to look at it.
00:14:37So the way you word the calculation, it's either one.
00:14:41But, Bobby, you're doing a fantastic job.
00:14:45We wanted somebody out of the box, and we got him. Right?
00:14:48That's right.
00:14:48I would say we got him. And Bobby, he's a great guy, actually.
00:14:52So, Oz, how about saying a few words, please?
00:14:56So this has been an unprecedented process.
00:14:59The President insisted we deal with one critical number you should all remember,
00:15:02which is that one in three Americans, when they go to the drugstore,
00:15:05after they've seen a doctor, will often leave empty-handed
00:15:07because they cannot afford the medications they're picking up.
00:15:10So affordability was the main word the President would use in many of those phone calls.
00:15:15He wanted it to be done fairly.
00:15:16We created a partnership with the pharmaceutical industry that was remarkable
00:15:21and that it pushed 17 massive companies into the fold to try to do deals,
00:15:27again, unprecedented, that would allow us to claim
00:15:30that they were giving the most favored nation pricing to this country,
00:15:33to the American people.
00:15:34The President would not take no for an answer.
00:15:36We got 16 companies in, but not the 17th.
00:15:40How many times do you think we spoke about the 17th company?
00:15:43Too much.
00:15:4417. He said 17. He wanted to be 17.
00:15:46Whatever math you want to make, 16 is not 17.
00:15:49There's a reason that the 17th company was delayed.
00:15:51That's why they're here today.
00:15:52It's that beautiful young boy you saw earlier,
00:15:54when you can save a child's hearing.
00:15:56And, Mr. President, we talked about a lot of numbers.
00:15:58Secretary Kennedy quoted 100 percent, 600 percent.
00:16:01It's hard to beat free.
00:16:03Free is the best price, and that's the starting price with the President oftentimes,
00:16:07and that's what this wonderful company has agreed to.
00:16:09I want to applaud TrumpRx.gov, a remarkable site created by Joe Jembia.
00:16:15Ed Korstein has done a wonderful job with zero glitches,
00:16:18serving more than 10 million individual unique Americans so far.
00:16:22And, Mr. President, it's the fastest website I've ever seen.
00:16:24People love it because it works well.
00:16:26There's all kinds of additional elements being added to it,
00:16:30which we'll be talking about.
00:16:31But this website, as the President said, must be checked.
00:16:34Must be checked if you're going to buy a medication
00:16:36to make sure your price is the right price.
00:16:38It's a transparency site that is more rigorous than anything that I have seen.
00:16:42And, Mr. President, your name is attached to it.
00:16:44And, of course, that brings a tremendous amount of attention to it.
00:16:47We wanted it to be perfect.
00:16:48And the team that did that has accomplished that exactly.
00:16:51I want to applaud Chris.
00:16:52You cannot thank him enough.
00:16:53But it was also John Brooks, Ima Hernandez.
00:16:55I see Beth back there, Theo, Ruchel, a bunch of people
00:16:59who've done a tremendous amount of work.
00:17:01And when I keep hearing from the pharmaceutical industry,
00:17:02maybe my colleagues can address it in your comments,
00:17:05they never expected to have a counterparty as qualified
00:17:07in the federal government.
00:17:09If you're thinking of serving your nation,
00:17:10this is the right time to do it.
00:17:11This is the right administration to serve him
00:17:13because the President makes it easy to do the right thing.
00:17:16Gentlemen.
00:17:18Go ahead, please.
00:17:20Mr. President, Secretary Kennedy, Secretary Lutnik,
00:17:23Commissioner Macri, Administrator Oz, and, I guess, Superstar Klum.
00:17:29Yes.
00:17:29Thanks for having us here on behalf of all of Regeneron.
00:17:32For those of you who don't know me, I'm Dr. Len Schleifer,
00:17:35President and CEO of Regeneron.
00:17:37And with me is Dr. George Ankopoulos,
00:17:39President and Chief Scientific Officer of Regeneron.
00:17:42And together, well, I should pause there.
00:17:45I just realized something.
00:17:46I'm a president.
00:17:47He's a president.
00:17:48He's a president.
00:17:49And all three of us grew up in Queens, New York.
00:17:53So there's something maybe that was going on back then that was good.
00:17:58I'm not sure about now.
00:18:00So anyway, together we founded, George and I founded Regeneron,
00:18:07and have built it over the past four decades.
00:18:10Today we are here.
00:18:11We were not pushed to be here.
00:18:13We are happy to be here.
00:18:15Because it marks an important step to lower drug prices.
00:18:18We've been arguing for more than a decade that other wealthy nations
00:18:22have been getting a free ride on American innovation.
00:18:26Just like in defense.
00:18:28But they've been getting, in health defense, a free ride.
00:18:31And now President Trump is putting policies in place
00:18:34to force these nations to pay their fair share,
00:18:37which will in turn lower prices for Americans.
00:18:40It's a good deal.
00:18:42But we have to remember this is just the beginning.
00:18:44The most important battle we all face is disease itself.
00:18:48We have to recognize how hard this fight is.
00:18:52For most major diseases that you or your loved one might suffer from,
00:18:55like Alzheimer's disease, to cancers, to genetic diseases, we are very far away from a cure.
00:19:03And we have to understand that discovering cures is perhaps the hardest scientific challenge humans undertake.
00:19:10Much harder than getting to the moon, not that we don't like that,
00:19:14but much harder than getting to Mars or making the next generation of cell phones or electric cars.
00:19:19Hard like staring into the unknown for years, sometimes decades,
00:19:24with no guarantee that anything you're doing will ever make a difference for somebody like Travis.
00:19:30Regeneron is a great example of both the difficulty of the challenge, but also of the potential reward.
00:19:37We spent 25 years, 25 years and billions of dollars, not millions, billions of dollars,
00:19:45before we produced our first important medicine or even earned our first profit.
00:19:51Maybe we should have been or might have been fired, but we've stuck with it.
00:19:56Our relentless commitment to disruptive innovation ultimately turned us into one of the most productive biotechnology companies in history.
00:20:05We have produced, thanks to George and his team, new medicines at the rate of about one important medicine a
00:20:12year
00:20:12for the last 15 years, including truly miraculous advances impacting millions of lives.
00:20:18And we have two people here who are living proof.
00:20:22Mr. President, when you were ill with COVID,
00:20:26it was Regeneron's monoclonal cocktail that you affectionately dubbed the Regeneron.
00:20:31We love it.
00:20:32And that helped save your life.
00:20:34That was invented by George right here and his team.
00:20:38George?
00:20:39Well, the addition of the president we had a few minutes ago,
00:20:43Sierra's beautiful boy, Travis, who was born without the ability to hear, as you heard from Sierra.
00:20:50And the same company and the same dedicated team of scientists that helped save the president's life
00:20:58also delivered a first-of-its-kind gene therapy, known as Otarmini.
00:21:03So Travis can now hear his mother, as she told you, tell him that she loves him.
00:21:09Hard to think of a greater gift.
00:21:11And just like you, Mr. President, who made our antibody treatment for COVID free for all Americans
00:21:18and thus saved many lives, we have made the decision, the unprecedented corporate commitment,
00:21:23to provide this first-of-its-kind gene therapy for hearing loss free to all the children in the United
00:21:31States
00:21:31who can benefit from her.
00:21:32And we do this, why?
00:21:35To hopefully highlight the power of disruptive biotech innovation
00:21:40and all the good that it can bring to all of our lives and our health.
00:21:46But we have to remember, despite the miraculous advances like Otarmini
00:21:50and like the regenerate COVID treatment, we also have to highlight how far we have yet to go
00:21:56to address the many diseases that lack effective treatments.
00:21:59And the cures will not be coming unless we not only celebrate the advances of the biopharma industry to date,
00:22:06but we all work together, private sector, together with the government,
00:22:12to not only maintain America's position as world leaders in biotech innovation,
00:22:17but to actually bump up innovation and become even more disruptive.
00:22:22Especially in a world where China is increasing investment and heavily subsidizing its biotech industry
00:22:29and reducing regulatory hurdles so as to try to displace America's leading position.
00:22:35President Trump's efforts to make drugs more affordable, as well as new FDA programs,
00:22:42such as the Commissioner's Voucher Program, that bring safe and effective new medicines like Otarmini
00:22:48to patients more quickly.
00:22:50These are important steps.
00:22:53One additional important way that I've been talking to the administration about
00:22:57that to maintain our leading position in the world is to create catalysts and accelerants
00:23:02for our industry and for the healthcare system, such as developing a national healthcare database
00:23:08linked to molecular data, including human sequence data, where Regeneron once again is a world leader.
00:23:15Without such big datasets, powerful new technologies such as AI, despite its potential,
00:23:21will not be as useful as it could be in the quest to develop new medicines and improve healthcare.
00:23:27The biopharma industry of America has and will continue to deliver a miraculous breakthrough.
00:23:32You, Mr. President, and young Travis, are living testaments of that.
00:23:37But many more lives need to be helped and saved.
00:23:41We need to attain a new level of disruptive innovation.
00:23:44We have to all work together to meet this challenge.
00:23:47Why?
00:23:48Because lives are at stake.
00:23:51Let me briefly say something.
00:23:53I'm married to a lawyer, my son is a lawyer, but I'm going to talk about the Constitution
00:23:57and I'm not an expert.
00:23:58But I know our Constitution lays out a vision on how America would out-innovate, out-produce,
00:24:05out-thrive every other nation on earth.
00:24:08And in it, you will find a description of a system built on incentive and reward.
00:24:13A system that says, take the risk, do the work, and you will share in what you create.
00:24:19That is why they enshrined patent protection directly in the Constitution.
00:24:24Not as an afterthought, but as a founding principle.
00:24:28As Abraham Lincoln said, another great president,
00:24:32patents add the fuel of interest to the fire of genius.
00:24:37We must keep that fire burning.
00:24:39What we did here today will do that.
00:24:42Little Travis can now hear for the first time, and his potential is endless.
00:24:47Let's make sure he grows up in a country that never stops reaching for the next miracle.
00:24:53Thank you, Mr. President.
00:24:54Great to be with you again.
00:24:57Chris, could you say a few words, please?
00:24:59Thanks, Mr. President.
00:25:00It's not lost on me that this year is America 250.
00:25:04And it's powerful, I think, to pause and remember that 250 years ago, a revolutionary free republic was born.
00:25:11And with it, the greatest innovation engine in the history of humanity.
00:25:15And we stand here today, 250 years later, getting to witness yet another groundbreaking innovation that doesn't just treat but
00:25:23cures deafness in children.
00:25:25And because of this president and his policies around most favored nation,
00:25:29will enable families who are struggling and suffering with this affliction to have access to that groundbreaking therapy for free.
00:25:36Now, as the president mentioned, we've negotiated the 17th of 17 agreements.
00:25:42This represents 86% of the branded pharmaceutical drug market in the United States.
00:25:48But anyone who knows us knows that we're not done.
00:25:51That's a milestone.
00:25:52It's not the finish line.
00:25:53And so we have three core objectives that are next up.
00:25:57Number one, and this is already underway, we are negotiating with the many hundreds of biotechnology and pharmaceutical companies representing
00:26:03that other 14%
00:26:05that are building the cures for tomorrow.
00:26:08To all those who are listening, I hope that we have proven that we are credible and reliable and trustworthy
00:26:14partners.
00:26:14We want to sit with you.
00:26:16We will listen to you.
00:26:17We will take the time to understand your businesses, not only as we negotiate on behalf of every American family
00:26:22for affordability,
00:26:23but also to ensure that you're best positioned to create the cures for tomorrow.
00:26:28Second, we continue our work on negotiating international trade agreements.
00:26:3259 days after we stood in this office and President Trump standing with Albert Borla from Pfizer announced the first
00:26:39of the 17 MFN deals,
00:26:41together with our colleagues from the Department of Commerce under Secretary Lutnik's leadership
00:26:45and from the U.S. Trade President's office under the leadership of Ambassador Greer,
00:26:49we negotiated a landmark agreement with the government of the United Kingdom,
00:26:53in which they agreed to increase significantly the amount that they spent on bread at pharmaceuticals for the first time
00:26:58in 26 years.
00:26:59That work continues with other countries.
00:27:03And third, we will continue our work with our partners in Congress to codify the principles that underpin these most
00:27:10favored nation deals.
00:27:11So that these savings for American families and this innovation that is unleashed at the same time persists for decades
00:27:18to come.
00:27:19So that the one in three or four families that Dr. Oz mentioned standing at a pharmacy counter right now,
00:27:26wrestling with the decision that no family should have to make of whether or not they can pick up their
00:27:30prescription because they can't afford it,
00:27:31will no longer be the case.
00:27:33And at the same time, we know that there are roughly 20,000 known diseases in the world,
00:27:37and we have a treatment or a cure for fewer than a quarter of those.
00:27:40And so this President and his policies is not only safeguarding affordability for American families,
00:27:46but is ensuring that we continue to bet on American exceptionalism.
00:27:50We bet on innovation.
00:27:52We bet on the principles that have taken us to this place in 250 years for the next 250 years.
00:27:57Thank you, Mr. President.
00:27:59Thank you, Chris. Great job you do.
00:28:01Maybe you want to talk about rescheduling while we're here and just say what you're doing and the progress that
00:28:06you've made.
00:28:07Well, Mr. President, today is another promise made, promise kept day.
00:28:12On December 18th, you signed an executive order on increasing medical marijuana and cannabidiol research,
00:28:18and today we delivered on that promise.
00:28:20The acting attorney general this morning signed an order that moves into Schedule 3 medical marijuana products that are FDA
00:28:27approved or that are state licensed.
00:28:30This is a giant move forward to implement your promise, and it's actually a campaign promise that you made.
00:28:34He said we're going to move into Schedule 3 to increase the research on these medical products.
00:28:40And just wanted everyone to know that, one, you make promises, you keep them.
00:28:44And two, what does Schedule 3 mean for state licensed medical marijuana products?
00:28:49We will begin implementation right away of this order.
00:28:52It does not legalize marijuana.
00:28:54It makes it easy for the researchers to actually study and understand medical marijuana, especially in populations that are using
00:29:02it.
00:29:03We know that one in ten seniors right now use medical marijuana in the past year.
00:29:08And they report that it really helps them, but we don't have the science or the understanding to guide the
00:29:13patients and the doctors.
00:29:14And so both patients and doctors are flying blind without knowing how they interact with other medications because the research
00:29:20has been difficult to do.
00:29:21And so your promise today says those state licensed medical marijuana products are now in Schedule 3, and we expect
00:29:26the research to significantly increase so that we can understand how to guide patients and doctors in this effort.
00:29:33And there will be additional actions that will come this summer to do an expedited hearing for the administrative, an
00:29:39administrative hearing in the Department of Justice for all of marijuana to move into Schedule 3.
00:29:45And the military is very happy about it.
00:29:47And a lot of people suffering from big problems, which seems to be the best answer.
00:29:52They're very happy about it.
00:29:53So the rescheduling is starting, and that's a big thing, rescheduling.
00:29:57They kept saying, what about the rescheduling?
00:30:00And so, great job.
00:30:01I appreciate it.
00:30:02I want to thank Mr. and Mrs. Howard Kessler.
00:30:05He's one of the most successful men in the world, actually.
00:30:09And he had some medical difficulties, and he came upon this by accident, in a way.
00:30:16And he said, well, he had to go through a lot of different, a lot of different medications.
00:30:22And he said, this was the one that was much better than anything else.
00:30:26And so he experienced it.
00:30:28He didn't benefit by it, other than from the standpoint that he lives a much better life now.
00:30:34So hopefully you don't need it.
00:30:36But if you do need it, I hear it's the best of all the alternatives.
00:30:41But I want to thank Howard Kessler and Michelle Kessler.
00:30:44They really pushed this very hard.
00:30:47These are two people, very straight arrows.
00:30:49They're not into marijuana.
00:30:50They're not into anything.
00:30:51But he found this answer, and he said, for the â
00:30:55he's doing it for other people.
00:30:58And so Howard and Michelle, probably, they're watching or they'll be hearing about it.
00:31:02But they worked very hard to get this done.
00:31:05And it's an honor.
00:31:07And you've done fantastically.
00:31:08You all have.
00:31:08And I appreciate it.
00:31:09And a man who's doing an excellent job is Howard.
00:31:12I think he's in a little different sphere.
00:31:14He's not in the medical sphere, but he knows what it all means.
00:31:17And from Commerce â he's the Secretary of Commerce.
00:31:21Howard, would you say a few words, please?
00:31:22Sure.
00:31:23So in partnership with Bobby Kennedy and Memanaz and the whole team, when they do most favored
00:31:31nation, we also ask the company to reassure and build their drugs here in America.
00:31:36Because too many of our drugs are key drugs for our health are being made overseas.
00:31:42And in a conflict, we can't rely upon them.
00:31:45And I'm honored to say that our partners from Regeneron have agreed to reassure their production
00:31:52of pharmaceutical drugs.
00:31:54And this is exactly from your pharmaceutical tariffs.
00:31:57That's the point.
00:31:58So that means $448 billion of drug manufacturing is coming to America because of your tariffs,
00:32:08because of your pharmaceutical strategy.
00:32:11And we are proud to invite Regeneron to do this giant build in America and all the rest
00:32:17of the pharmaceutical companies they have committed to build in America because of your
00:32:21tariff policy and your strategy.
00:32:24And because of the tariffs, we have â it's been amazing, actually â we have Eli Lilly
00:32:28and Pfizer and all of the companies.
00:32:30We had, I guess, seven of them here at one time, which was interesting to see.
00:32:34But they actually got along with each other very well.
00:32:36They stood right behind me, the biggest companies in the world.
00:32:39And they're all building â Eli Lilly is building, I think, five major plants, which,
00:32:46without tariffs, they would have built none.
00:32:47I said, how many would you build without â none.
00:32:50They were all making these products in other countries â a lot of other countries, actually.
00:32:54Not just China, but a lot of other countries.
00:32:56And I think by the time I leave office, they'll be mostly operating these â they have an incentive
00:33:04to do them quickly â big incentive, like the tariffs go up if they don't.
00:33:08And remember, if they do them here, they don't have any tariffs to pay.
00:33:11It's an incredible incentive.
00:33:13And if they don't do them here, they have a very substantial tariff.
00:33:15So they get penalized.
00:33:17And it's bringing countries â not only drug companies, but car companies.
00:33:21AI is a different thing altogether.
00:33:23But even there â but the AI is â we're leading China in AI.
00:33:27We're leading everybody in AI.
00:33:29We're leading now in car companies.
00:33:32They're coming from Canada.
00:33:32They're coming from Mexico, Germany, Japan.
00:33:35They're pouring into our country because they're very smart.
00:33:39Should have been done long ago by other presidents.
00:33:41We were the car capital of the world 50 or 60 years ago.
00:33:45And then they just started taking them away.
00:33:47We were the chip capital of the world.
00:33:49And now, you know, Intel.
00:33:51And now they're coming back.
00:33:54All the chip companies are coming back.
00:33:56You may say a word about that, Howard, real fast.
00:33:58Because we are â what we're doing with chips are incredible.
00:34:01And what we're doing is saying, at the end of a year and a half, two years,
00:34:05if you don't have your chip company, you're going to pay a tremendous tariff to put chips into this country.
00:34:09And they are building â I think we'll have close to 50 percent of the chip market very soon.
00:34:14Right now, we had nothing.
00:34:15We had virtually nothing.
00:34:17And they're coming in from Taiwan.
00:34:19They're coming in mostly from Taiwan because that's where chips are made.
00:34:22But mostly from South Korea, Taiwan, various other countries.
00:34:25But they're coming back to America.
00:34:27We're bringing them all back.
00:34:28It's a revolution.
00:34:30Nobody has ever seen what we've done.
00:34:31There's never been anything like what we've done.
00:34:33We have $18 trillion being invested.
00:34:35That's for 11 months.
00:34:37And the last administration had less than $1 trillion in four years.
00:34:41We have, in 11 months, over $18 trillion.
00:34:44Howard, do you want to talk just for a second about the chip market?
00:34:47Because it's explosive.
00:34:49Sure.
00:34:50So you've got semiconductors.
00:34:51You've got leading-edge logic.
00:34:53You've got high bandwidth memory.
00:34:55And you have foundational chips.
00:34:57And America had a couple of points â 3 or 4 percent market share.
00:35:02And we are, of course, the biggest demand.
00:35:04And the president gave the order, let's get these factories, these fabs built in America.
00:35:11And our expectation is we will have $1 trillion of these fabs.
00:35:16These are factories.
00:35:18This is not the hyperscalers buying chips.
00:35:21This is literally the making of the chips.
00:35:24Right?
00:35:24We had Micron, $200 billion.
00:35:27TSMC, $165 billion.
00:35:29The list goes on and on.
00:35:31They negotiated a great deal with Taiwan.
00:35:34$500 billion coming to America.
00:35:36We'll have $1 trillion of semiconductors.
00:35:39That's part of his $18 trillion.
00:35:40But it's foundational for us to take care of ourselves.
00:35:44Well, thank you very much.
00:35:47I'll go off-subject for a minute.
00:35:48But it's â I think it's very interesting.
00:35:50And I hope you go home and take a look, because it's happening right now as we speak.
00:35:55But first, if you look outside â so we had flooring outside.
00:36:00We had a slate.
00:36:02And it was coming to pieces.
00:36:04It's been there since the early 1940s.
00:36:07And it's a path to the Oval Office.
00:36:09It's a path to the West Wing.
00:36:11And it was terrible.
00:36:11It was broken.
00:36:13Bad shape.
00:36:14The whole White House has been in bad shape.
00:36:16It's been â it's right now in better shape than it is.
00:36:19I think the day they built it, this is better right now.
00:36:22But we're putting magnificent new granite.
00:36:25It's called charcoal.
00:36:27It's black granite against the white â beautiful white walls.
00:36:32We've stripped all of the paints off.
00:36:34We had 200 years of paint.
00:36:36And we've redone it.
00:36:38And it's beautiful.
00:36:39And you can see the building.
00:36:40But you can also see the columns, everything else.
00:36:42But we're replacing â and they're working right outside if the press wants to go and
00:36:46take a look at what's â they're really pros.
00:36:49You see the word.
00:36:50Large slabs of black granite.
00:36:52Granite is rated as â this particular granite â over a million-year life.
00:36:58As an example, concrete gets rated for about 200 years if you get very high grid.
00:37:03This is over â it's rated over â can you imagine?
00:37:05Nature produces something better than you can make.
00:37:07So it's very interesting.
00:37:09Because it's a beautiful job they're doing.
00:37:10And it's highly polished granite in the areas you don't walk on.
00:37:15And it's â it's called flame-finished areas that you do walk on.
00:37:19There's no slip.
00:37:20So it's a beautiful job.
00:37:22And it's going up nice.
00:37:24And if you want to take a look outside the window â so that's replacing a stone that
00:37:27was here from the early 1940s â a little before that.
00:37:32And you'll see the ramp, too.
00:37:33We're keeping the ramp.
00:37:35And that was for FDR.
00:37:36He needed a ramp, as some people would know.
00:37:40And in his honor, we're leaving it.
00:37:42I wanted to leave it.
00:37:43It means something.
00:37:44The other thing that we're doing that's taking place right now is â the Lincoln Memorial
00:37:49has a beautiful reflecting pond or lake.
00:37:54They call it a pool, lake, and pond.
00:37:56Everything is different.
00:37:57But the word reflecting is a good term.
00:38:01It was built in 1922.
00:38:03And it was built out of granite and various stones on the bottom.
00:38:08And it never looked great, because it's not really meant to be a stone that's underwater
00:38:12for that much of a period of time.
00:38:15It's about a foot and a half to two feet deep.
00:38:18You all know it well.
00:38:19That's where Martin Luther King gave his great speech.
00:38:22And he had a million people.
00:38:24And I had the same exact crowd, maybe a little bit more.
00:38:27But they said I had 25,000 people in July 4th.
00:38:29I had pictures of Martin Luther King's crowd, my crowd, the exact same, everything.
00:38:34But it was 70 years difference.
00:38:36The exact same crowd, but I actually had more people.
00:38:39But that's okay.
00:38:41They gave him a million people.
00:38:44They said a million people.
00:38:45And I had 25,000 people.
00:38:47But these are the things that we had on July 4th a few years ago, first term.
00:38:54So, you have this reflecting lake part.
00:38:59It's incredible.
00:39:00But it was terrible.
00:39:02The condition, you all know it.
00:39:04A friend of mine came from Germany to see me.
00:39:07And he said, oh, we went over.
00:39:08It's so sad.
00:39:09What's sad?
00:39:10This is a number of months ago.
00:39:11He said, it's filthy dirty.
00:39:13The water is disgusting looking.
00:39:15It's not representative of the country.
00:39:18And I said, well, I'm going to have to go take a look.
00:39:20Because, you know, Secret Service doesn't let you just walk around too freely, actually.
00:39:23And I went over there with Secret Service in tow.
00:39:28And I said, isn't that a shame?
00:39:30It's terrible.
00:39:32And so, they had bids from the Biden administration.
00:39:37Sleepy Joe.
00:39:38And they had bids for years that were going to do something to fix it.
00:39:42But they never got it done.
00:39:43And it's so important for our country.
00:39:47Everybody knows this.
00:39:48It covers the Washington Monument, Lincoln Memorial.
00:39:52It's in between.
00:39:53It's 2,200 feet.
00:39:56That's taller than any building in the world if you lay it down on its side.
00:39:59Think of it.
00:40:002,000.
00:40:01That's so long.
00:40:02Over 2,000 feet long.
00:40:06So, it would be many swimming pools.
00:40:07Many, many, many stacked up together.
00:40:09But it would be the equivalent of the tallest building in the world, plus laid down on its
00:40:14side.
00:40:15So, it's very big.
00:40:15It's very wide, actually.
00:40:17It looks narrow because it's so long.
00:40:19And so, the pricing was coming in over the years, but it came in sort of recently, that
00:40:26it was going to cost $301 million to fix it.
00:40:31It was going to take three and a half years.
00:40:32So, they had to take all the granite out, which is there again, 1922.
00:40:38And it was leaking like a sieve.
00:40:40You couldn't keep water.
00:40:41You couldn't keep anything.
00:40:43And granite's not the right stone for that.
00:40:44Right stone for that, but not for that.
00:40:47And I said, you know, I have an idea.
00:40:50It's $301 million.
00:40:52It was going to take three and a half years.
00:40:53So, remember those numbers.
00:40:54$301 million.
00:40:55This is a business study.
00:40:57And it was going to take three to three and a half years.
00:41:01And over the years, as a developer, I've probably built more than 100 swimming pools
00:41:06in different buildings I built.
00:41:07And I have some really good pool builders.
00:41:09I also had some really bad ones.
00:41:11We took care of them.
00:41:13They didn't last too long, Howard.
00:41:15But I've had some really good ones.
00:41:17Some very talented, very talented people.
00:41:20Great people.
00:41:20I have such great respect for contractors that are good.
00:41:23And such disdain for contractors that are bad.
00:41:26They charge you more money and they give you a bad job.
00:41:30But we don't accept it.
00:41:32But over the years, I've had three or four really good ones.
00:41:35And I took the best of the three.
00:41:38We had all three go, but I ended up taking the best.
00:41:41And I said, would you take a look at this?
00:41:44It's 2,200 feet long.
00:41:46He said, what do you want me to look at, sir?
00:41:48I said, have a little swimming pool.
00:41:50Think of it as a swimming pool.
00:41:51I said, oh, how big is it?
00:41:53I said, 2,200 feet by 167 feet wide.
00:41:57He said, that's the biggest swimming pool.
00:41:59He said, I've been doing this for a lot of years, sir.
00:42:01I've never heard of a pool like that.
00:42:02I said, well, you'll see it's a reflecting pool.
00:42:04And very famous, very famous, very big signal,
00:42:08and very important for Washington, D.C.,
00:42:10where we, by the way, have almost no crime, I have to say.
00:42:14That's maybe more important than talking about this.
00:42:16We have a crime down from a tremendously high,
00:42:18one of the worst in the country.
00:42:20We have almost no crime.
00:42:22People are walking around.
00:42:23Restaurants are opening all over the place.
00:42:24The place is bustling.
00:42:25But that makes this even more important.
00:42:28So instead of being a dirty, disgusting place
00:42:31where garbage was in it and everything else,
00:42:33and I want to give Doug Burgum incredible credit,
00:42:36because he was involved, the Secretary of Interior,
00:42:39he was involved right from the back.
00:42:40I called him.
00:42:41I said, Doug, I'm getting a lot of complaints
00:42:43about the condition of this.
00:42:44What do you think?
00:42:45And he went over and studied it,
00:42:47and he came back with some ideas.
00:42:48But I said, you know, Doug,
00:42:50I have a guy who's unbelievable at doing swimming pools.
00:42:53Up the road, we have a club.
00:42:55We have an Olympic-sized swimming pool.
00:42:57He did it 20 years ago, and it's perfect to this day.
00:43:01So I asked him, I said, I have an idea.
00:43:04I'm going to send my contractor over and take a look.
00:43:07He looked at it.
00:43:08He called me up.
00:43:09He said, sir, we could do something on it.
00:43:10He said, it's perfect, actually.
00:43:13He said, it's really decaying,
00:43:15and it's a terrible condition.
00:43:18But if you would, I'd like to work two weeks
00:43:20on cleaning it up, which is, if you see right here.
00:43:22I'd like to repoint and fix some of the joints.
00:43:26It won't matter because we're putting a substance over the top,
00:43:29but it's nice to have a nice surface.
00:43:31And he said, it'd take me two weeks.
00:43:33And if you don't mind, then I'd like to pour the latest
00:43:37and greatest filament or material,
00:43:40which is essentially a pooled surface,
00:43:43but it's an industrial-grade pool.
00:43:46And he said, what color would you like, sir?
00:43:49I said, well, what about turquoise, like in the Bahamas?
00:43:53He said, well, this is Washington, sir.
00:43:56We can give you turquoise.
00:43:57But why don't you try, like, we have a color.
00:43:59It's called American Flag Blue.
00:44:01I said, that's the color I like.
00:44:03He talked me into it very easily.
00:44:05So he said, that's the color I like.
00:44:06So he came in.
00:44:10And remember, three and a half years.
00:44:13You have to take all the granite out.
00:44:15Then you have to put all brand-new granite in.
00:44:18Take years to do it.
00:44:20Over 300 million.
00:44:24Our job will take one week.
00:44:26It will cost about a million and a half dollars.
00:44:31And people said, wow.
00:44:34And here's the only difference.
00:44:36Because somebody said, well, the difference is, you know,
00:44:38the difference is this is much better.
00:44:40This will last 30, 40, 50 years.
00:44:43And if it didn't, you'd do it again quickly, if you want.
00:44:47So it's being done now.
00:44:49And I think you'd find it really amazing to go take a look.
00:44:53So here it is.
00:44:54You see the trucks.
00:44:57He's got scrapers and, you know, all sorts of equipment
00:45:00to make the stone as good as possible without removing it.
00:45:04So we're using the existing surface,
00:45:05so we don't have to spend millions of dollars in demolition.
00:45:09And he said, much better to leave the stone
00:45:11than it is what's underneath.
00:45:13They're afraid to look.
00:45:15And so you see it's beautiful, clean.
00:45:17It's ready to be taken care of.
00:45:20Here's a sign that we put.
00:45:21And so Doug Burgum and myself are involved in that.
00:45:26But when you take a look at the surface, we have it in good shape.
00:45:32And they just started today putting down the material.
00:45:35It's a machine.
00:45:36It lays it very evenly, beautiful.
00:45:38It goes from one side to the other.
00:45:39It'll take about three days.
00:45:42And you're going to end up with a beautiful, beautiful reflecting pool,
00:45:45the way it's supposed to be.
00:45:47Much better than it ever was, actually.
00:45:50It'll stay clean.
00:45:51We even have robots that go in it, and they ride around the bottom,
00:45:56and they clean it like a swimming pool.
00:45:57But these are a much higher level.
00:46:00This is industrial grade, and it's really beautiful.
00:46:02So you're going to have a beautiful pool,
00:46:05and you'll have it for July 4th, long before July 4th.
00:46:10Instead of taking three, three and a half years, we're taking a week.
00:46:14And instead of spending $301 million, we're spending less than $2 million.
00:46:18And I think it's a great business story because there are many things like that that I see.
00:46:24I mean, not maybe to that extent, but there are many things like that that I see.
00:46:30I often talk about the pen.
00:46:31This pen's better than the one that they used to give away for $2,000.
00:46:34I won't go on a long story about that because a couple of people said,
00:46:37he kept talking about the pen.
00:46:39And I gave you the whole history of it.
00:46:41Actually, many people found it interesting,
00:46:43and some people thought I was doing too much of a weave.
00:46:45But actually, with this pen, for $3, $5, $2, whatever the hell it costs,
00:46:53is better than the one for $1,000 to $2,000 that they used to hand away.
00:46:58So that's the short version of it.
00:47:00I like the short version better.
00:47:01But the long version is this one.
00:47:03So this is an amazing thing that's happening,
00:47:07and this is a big, big beautification.
00:47:10In addition to that, the sidewalk areas around it, which were done in granite,
00:47:15similar granite to that, actually not as nice as we have here, to be honest with you.
00:47:19But, you know, the people that did it weren't in the world of real estate like I am.
00:47:25But they have good granite circling it, and we're going to repoint it,
00:47:29meaning we're going to caulk it up and repoint it, make it good.
00:47:32And we're going to also sandblast it. It'll be like Brandon.
00:47:35So we're going to have, in another couple of weeks,
00:47:38we're going to have the most beautiful reflecting pool
00:47:41between the Washington Monument and the Lincoln Memorial that you've ever seen.
00:47:45And I hope the media can go over and maybe watch them do it,
00:47:48because I think it's very exciting.
00:47:50And so a fraction of the cost and a fraction of the time,
00:47:53and you get a better product than you could ever get the other way.
00:47:56And it'll be beautiful.
00:47:56And as he said, it will be American flag blue.
00:48:00Any questions, please?
00:48:01Yes, sir.
00:48:02Could you talk a little bit about why your Navy secretary was fired yesterday, sir?
00:48:07He's a wonderful guy.
00:48:08I just put out a statement about him.
00:48:10He's a very good man.
00:48:12I really liked him.
00:48:13But he had some conflict with, not necessarily Pete, with some other â
00:48:17he's a hard charger.
00:48:19And he had some conflicts with some other people,
00:48:21mostly as to building and buying new ships.
00:48:25I'm very aggressive in the new shipbuilding.
00:48:28And somehow, he just didn't get along with him.
00:48:32He's an excellent guy.
00:48:33I think he would have gotten along great with me.
00:48:35I didn't really deal with him too much.
00:48:36But he's a â you know, I consider him to have done a very good job.
00:48:41I put out a nice statement about him.
00:48:44You've got to get along, especially in the military.
00:48:46You've got to get along, you know.
00:48:48And some people liked him.
00:48:50Some people didn't.
00:48:51And that's usually the truth about everything.
00:48:54But I found him to be a very good man.
00:48:56And I â I liked him a lot.
00:49:00How long are you willing to wait until you get a unified response?
00:49:04Well, don't rush me.
00:49:05Don't rush me, Jeff.
00:49:07You know, guys like you, you want to say, oh â
00:49:09so we were in Vietnam, like, for 18 years.
00:49:12We were in Iraq for many, many years.
00:49:14We were in for all the â I don't like to say World War II,
00:49:17because that was a biggie.
00:49:18But we were four and a half, almost five years, in World War II.
00:49:22We were in the Korean War for seven years.
00:49:25I've been doing this for six weeks.
00:49:29And we're â their military is totally defeated.
00:49:32They're â they're outside of the little White Sky ships â
00:49:37I call them the White Sky ships â
00:49:38the little boats that they have running around with guns in them.
00:49:42And we'll take them out, too, when we see them.
00:49:45But their Navy is gone.
00:49:47Their Air Force is gone.
00:49:48Their anti-aircraft is gone.
00:49:51All of their anti-aircraft machinery is gone.
00:49:54Maybe they loaded up a little bit during the two-week hiatus,
00:49:57but we'll knock that out in about one day, if they did.
00:50:00We've done an amazing job.
00:50:01Their leaders are gone.
00:50:03Their leaders are all gone.
00:50:04Part of the problem is that â
00:50:06well, I can't really answer your question â
00:50:09they have all new leadership,
00:50:10and they're fighting like cats and dogs for who's going to control.
00:50:15And because we've created a real mess for them,
00:50:18but they've created a mess for the world over the last 47 years.
00:50:22They've killed a lot of our people.
00:50:24When you see a soldier â a young person, or now an older person,
00:50:28but a person without legs or without arms or with a face that got blown to pieces â
00:50:33most likely it was from Iran.
00:50:35It was Soleimani who I killed.
00:50:38Soleimani loved the roadside bomb.
00:50:40He was an evil genius.
00:50:42He was a brilliant general.
00:50:43Probably we wouldn't be as far advanced had I not taken him out.
00:50:46That was the beginning of it all.
00:50:48And then I ended the Obama horror show.
00:50:53The nuclear transaction that he made was horror.
00:50:57It gave him a road to the â you call it â I mean, the deal that he did,
00:51:02the Iran nuclear deal, was so bad it gave him a road to a nuclear weapon.
00:51:06And I will tell you, I deal with him.
00:51:07You cannot give Iran a nuclear weapon.
00:51:09This is all about a nuclear weapon.
00:51:10They cannot have the nuclear bomb, and they're not going to have the nuclear bomb.
00:51:14So we've taken out their military.
00:51:16We've hit about 75 percent of our targets.
00:51:20We stopped a little early because they wanted to have some peace.
00:51:24And we have a blockade that's 100 percent effective.
00:51:31And they're getting no business.
00:51:33And as you know, they're not doing well economically, financially.
00:51:37They're not doing any business because of the blockade.
00:51:40They want to make a deal.
00:51:42We have been speaking to them.
00:51:44But they don't even know who's leading the country.
00:51:47They're in turmoil.
00:51:48They're in turmoil.
00:51:49So we thought we'd give them a little chance to get some of their turmoil resolved.
00:51:53But, you know, I hope the fake news, people like you,
00:51:57I hope the fake news are going to be able to write about it accurately.
00:52:00Because when you say, oh, they're fighting very well, they're not fighting well.
00:52:03They were â they've been obliterated, Jeff, obliterated.
00:52:08And 159 ships are in the Navy.
00:52:10You know how many ships are at the bottom of the sea, Jeff?
00:52:14159.
00:52:17So, you know, if you read the New York Times, the failing New York Times, subscriptions are way down, as
00:52:23you know.
00:52:24That's because people don't believe this stuff anymore.
00:52:26If you watch CNN, you'd think that they're doing well in the war.
00:52:30They're not doing well.
00:52:30They're getting absolutely decimated.
00:52:33Now, with all of that being said, we'll see what happens.
00:52:37You have a lot of â we have no pressure.
00:52:39It's only guys like you with a question like that about, what's your time â we've been doing it for
00:52:43five and a half weeks.
00:52:44It's actually eight weeks that the U.S. now has been involved with Iran.
00:52:50You had initially said it would be four to six weeks â
00:52:52Well, I hope that.
00:52:53But I also took a little break.
00:52:54I gave them a break.
00:52:55And remember this â I want to make the best deal.
00:53:00I could make a deal right now.
00:53:02Do you know that if I left right now, we had a tremendous success.
00:53:05It would take them 20 years to rebuild.
00:53:07But I don't want to do that.
00:53:08I want to have it everlasting.
00:53:10I want to have it where they never get â they never have a chance to get â
00:53:14I mean, the way you asked that question, yeah, I did say it.
00:53:16I thought it would take four to six weeks.
00:53:19And I was right.
00:53:21Because at the end of six weeks, at the end of four weeks, the military was decimated.
00:53:25So what are you saying â
00:53:26But now what I'm doing â I don't â I can't tell you that.
00:53:28I don't want to put that kind of a timetable on it, but it'll go pretty quickly.
00:53:34And we'll have the strait opened up.
00:53:36Now, right now, we have it closed.
00:53:38We have total control of the strait.
00:53:40And the fact that it's closed â you know, they would have opened it up three days ago.
00:53:43They came to us, and they said, we will agree to open the strait.
00:53:47And all my people were happy.
00:53:48Everybody was happy except me.
00:53:50I said, wait a minute.
00:53:50If we open the strait, that means they're going to make $500 million a day.
00:53:54I don't want them to make $500 million a day until they settle this thing.
00:53:59So I'm the one that kept it closed.
00:54:01We have total control of it.
00:54:02And it'll open when they make a deal.
00:54:05Or something else happens that's very positive.
00:54:08But what's the right thing that the American â
00:54:09Hold on, excuse me.
00:54:09What do you say to the American people who question how much longer this will take, obviously,
00:54:14even though that they are having â
00:54:15You're such a disgrace.
00:54:17Did you know what I just said?
00:54:18Vietnam â how many years was Vietnam?
00:54:20I understand, sir.
00:54:21How many years was Vietnam?
00:54:22No.
00:54:23Well, I didn't know yet.
00:54:24I took â I took â I took the country out militarily in the first four weeks.
00:54:33I took it out militarily.
00:54:35Now what we're doing is sitting back and seeing what deal.
00:54:38And if they don't want to make a deal, then I'll finish it up militarily with the other 25 percent
00:54:43of the targets.
00:54:44We've hit 78 percent of the targets that we've wanted to hit.
00:54:48We've knocked out their manufacturing.
00:54:49We've knocked out their missile production.
00:54:51We've knocked out their drone production.
00:54:53We've knocked out everything.
00:54:55In some cases, when I say knocked it out 70, 80, 90 percent, it's amazing what we've done.
00:55:02So I've done that within that period of time that I mentioned.
00:55:05But I don't want to rush myself, you know, because every story I say,
00:55:08Oh, Trump is under time pressure.
00:55:10I'm not.
00:55:10No, no.
00:55:10You know who's under time pressure?
00:55:12They are.
00:55:13Because if they don't get their oil moving, their whole oil infrastructure is going to explode.
00:55:17You know what that means.
00:55:19Because they have no place to store it.
00:55:21And because they have no place to store it, if they have to stop it, something happens that only Len
00:55:27can explain.
00:55:28Something happens underground that essentially renders it in very poor shape and you never recover fully.
00:55:36You can recover 50, 60 percent, but you can never have it like it is right now.
00:55:40And they have a matter of days before that event takes place.
00:55:44So I'm not under any pressure whatsoever.
00:55:47We've never had so much ammunition.
00:55:49Our ships are loaded.
00:55:51I call them locked and loaded.
00:55:53They're locked and loaded.
00:55:54They're ready to go.
00:55:54We have much higher quality equipment than we did when we first started the war.
00:56:00And, or the military operation, whatever you want to call it.
00:56:05And they're coming to us.
00:56:07The problem they have is they are very disorganized right now.
00:56:10Well, now yesterday, and I was very pleased with this, eight young women were going to be executed yesterday afternoon
00:56:18at 6 o'clock.
00:56:20And I asked them, call it a favor or call it just a moral request that they not be executed.
00:56:28And they came back with an answer that they won't be executed.
00:56:30They're going to release.
00:56:31It was protesting eight beautiful young women, very young women.
00:56:36And they were, their pictures are in the paper.
00:56:38And it's been a story for a little while.
00:56:40And I saw that.
00:56:41And I said, let's see if we can save them.
00:56:44And there were, it was very nice what happened.
00:56:47So, they're not going to be.
00:56:49What they're doing is, as you know, they're releasing four of them very shortly.
00:56:52And they're going to keep four of them in jail for a period of one month and release them.
00:56:56So, they won't be executed.
00:56:57You have to do that.
00:56:58So, if you're asking for more time to sort out negotiations with Iran.
00:57:02I'm not asking you for more time.
00:57:02I'm not asking for them.
00:57:04No.
00:57:04But if you need more time.
00:57:05I'm not asking anybody for more time.
00:57:07If you need more time, does that mean Americans should anticipate spending more on gasoline for the foreseeable future?
00:57:14For a little while.
00:57:14And you know what they get for that?
00:57:15Well, how long?
00:57:15You know what they get for that?
00:57:17Iran without a nuclear weapon that's going to try and blow up one of our cities or blow up the
00:57:21entire Middle East.
00:57:22You want to see what shock would be?
00:57:25And I have to be honest, the stock market is at an all-time high right now.
00:57:30Right.
00:57:30I thought it would have been down 20, 25 percent.
00:57:33You wanted to try prices down.
00:57:34But can I finish my question?
00:57:36Sure.
00:57:37The stock market is at an all-time high right now.
00:57:42I projected, and I'm pretty good at this, that the stock market, Howard, would drop maybe 20 percent, 25 percent.
00:57:49And I understood that.
00:57:50And I said, hey, it's a bad thing.
00:57:51But I have to do what's right for the country.
00:57:53Even the world.
00:57:54Because you can't have them â you cannot let them have a nuclear weapon.
00:57:58And so, the stock market, unlike what a lot of people were predicting, I thought they weren't necessarily wrong.
00:58:06The stock market today hit an all-time high.
00:58:08It hit an all-time high yesterday, the day before.
00:58:11And it's staying there.
00:58:12I thought oil would go up to maybe $200 a barrel.
00:58:17And oil is a very different number than anyone thought.
00:58:21In fact, this country is much lower because we have all the oil we can use.
00:58:25We're actually â ships are coming from all over the world to Texas, Louisiana, and Alaska.
00:58:31They're coming from all over the world to get oil from the United States, you know, while this is closed.
00:58:36We're almost straight.
00:58:37And so, if you look at what I said, I guess it was right, because I said I'd have it
00:58:44four to six weeks.
00:58:45And in four weeks, we have totally defeated that military.
00:58:47But you began â
00:58:48So, right now, I don't want to rush it because you guys are, you know, trying to make us look
00:58:52as bad as possible.
00:58:53I don't want to rush it.
00:58:54I want to take my time.
00:58:55We have plenty of time.
00:58:56And I want to get a great deal.
00:58:58I want to get a deal where our nation and the world is safe from lunatics with nuclear weapons.
00:59:04If it does go to 200, are you okay with that, sir?
00:59:08If one of those goes to 200?
00:59:09I think that there's nothing worse than a nuclear weapon that takes up one of your cities or two of
00:59:14your cities or three.
00:59:15I think there's nothing worse than a nuclear weapon that's going to destroy the Middle East, including Israel.
00:59:20I think there's nothing worse than Europe being under attack by people that have missiles now that reach Europe.
00:59:27As you know, they don't reach us, but they reach Europe.
00:59:30But they will reach us at some time.
00:59:32Probably the not-too-distant future, unless we stop them now.
00:59:35I think there would be nothing worse than having nuclear holocaust in Europe, London, Paris, various places in Germany, all
00:59:46targeted.
00:59:47No.
00:59:48What I say is you can't let them have â I don't think it will happen, by the way.
00:59:54I really think we actually â it turns out that we are Drill Baby Drill, and it turns out we're
01:00:00producing a lot of oil, and they're buying the oil.
01:00:02They're going to Alaska.
01:00:03They're going to Texas, Louisiana.
01:00:06And our guys have done a fantastic job.
01:00:08We're putting out, right now, more oil and gas than we ever have in the history of our country.
01:00:13And one other thing.
01:00:14There are more people employed today in the United States than ever in the history of our country.
01:00:19I have a question, sir.
01:00:21Is it true that your administration is considering sending 1,100 Afghans to the Democratic Republic of Congo?
01:00:27And if so, do you have a response to law?
01:00:29I don't know.
01:00:29I have to share.
01:00:30Thank you, Mr. President.
01:00:32Thank you, Mr. President.
01:00:33Breitbart News' Matt Boyle just published an interview with Greek Prime Minister Amit Satakis,
01:00:39in which the Prime Minister said that he's rooting for you to succeed in getting a deal with Iran.
01:00:44He also said he looks forward to hosting you in Greece later this year.
01:00:47Do you have any response?
01:00:48No, it's really nice.
01:00:49I mean, Greece has been very supportive, actually.
01:00:52Greece has been terrific.
01:00:53He's a terrific guy because he understands the importance of it.
01:00:57You know, oil goes up a little bit.
01:00:59I hate it.
01:01:00You know, I was the one that had it down to $60 a barrel.
01:01:04And I looked at guys like Howard Lutnick.
01:01:06Howard, you remember it well.
01:01:07I said, well, we just hit an all-time high in the history of the market.
01:01:12Think of this.
01:01:13When we hit 50,000, I was told, everybody was told, when I won the election, November 5th, they said,
01:01:20well, during the four-year period, it'll be impossible for the Dow to ever reach 50,000.
01:01:25It'll be impossible for the S&P to ever hit 7,000.
01:01:29Impossible.
01:01:30And you remember that, Howard, right?
01:01:31It was going to hit maybe six, seven years, eight years.
01:01:34But I did it in my first year.
01:01:36Hit 50,000.
01:01:38Now it's just about at 50,000.
01:01:40And S&P is higher than it was when we started.
01:01:43And S&P hit over 7,000.
01:01:45And that was before the year ended up, one year.
01:01:48So I can only tell you this.
01:01:50It'll end.
01:01:51I don't think it'll be very long, by the way.
01:01:54They're delaying it because we don't know who to deal with.
01:01:57They are in â you know, they know who the leader is in this country.
01:02:01We don't know who the leader is in Iran.
01:02:04Why?
01:02:04Because, remember, regime change.
01:02:06Khomeini is gone.
01:02:07He's gone, too.
01:02:09Greener pastures.
01:02:10He's gone, and all of his team is gone.
01:02:12Then a second group came in.
01:02:14They're all gone.
01:02:15And now you have the third group.
01:02:17And they're a little concerned about being gone, too.
01:02:19Sir, would you use a nuclear weapon against Iran?
01:02:21You posted it on Truth Social a few weeks ago.
01:02:24We don't need it.
01:02:24Why do I need it?
01:02:25Why would a stupid question like that be asked?
01:02:28Why would I use a nuclear weapon where we've totally, in a very conventional way, decimated
01:02:34them without it?
01:02:35No, I wouldn't use it.
01:02:37A nuclear weapon should never be allowed to be used by anybody.
01:02:40So I was just taking a â
01:02:41I was just taking a â
01:02:42I was just taking a â
01:02:43Sir, which we're all very much looking forward to.
01:02:45Prince Harry today has said that he would like to see you do more to end the war in Ukraine.
01:02:49Do you think it's appropriate for a royal to make those comments ahead of the visit on Monday?
01:02:53Prince Harry?
01:02:54Yes, sir.
01:02:55How's he doing?
01:02:56How's his wife?
01:02:57Please give him my regards, okay?
01:02:59No, I don't know.
01:03:00I think â I know one thing.
01:03:02Prince Harry is not speaking for the U.K.
01:03:06That's for sure.
01:03:07I think I'm speaking for the U.K. more than Prince Harry.
01:03:11But I appreciate his advice very much.
01:03:13Would you invite them to the dinner and to the state visit?
01:03:16Well, I look forward to the dinner.
01:03:17We're having King Charles come.
01:03:18He's a friend of mine.
01:03:20We're really looking forward to it.
01:03:22We've spoken.
01:03:22And it's â we're going to have a great time.
01:03:24I tell you, we â if I had that ballroom built, it would be filled.
01:03:27I wish we had more seats.
01:03:29You know, they've wanted a new ballroom for 150 years.
01:03:32Now they're getting the best in the world.
01:03:33We're going to have the best in the world.
01:03:35But, you know, we have little â a room that's not big enough to handle what would be a big
01:03:40crowd.
01:03:40But we're going to have very great people that love the U.K.
01:03:44I love the U.K.
01:03:46I think they've made a big mistake on energy.
01:03:48You should open up the North Sea in Aberdeen.
01:03:52You should open it up.
01:03:54And the other thing is they've made a big mistake on immigration.
01:03:57Okay.
01:03:58Sir, I'm sorry.
01:03:59I'm sorry.
01:04:02I'm sorry.
01:04:03â what do you hope to learn from the â
01:04:06â June Facebook 000 â investigation into the Federal Reserve ŃŃĐżel â reservation
01:04:10â that you did not learn when you visited the site yourself last winter.
01:04:13Well, look.
01:04:14You know, the Federal Reserve building is a small building.
01:04:19They're going to be in there by the time it opens, in my opinion, for $4 billion.
01:04:24I built a hotel down the road for $201 million that I believe is bigger than the Federal Reserve Building.
01:04:31The ballroom, I'm going to have the ballroom from three to four hundred million, depending
01:04:36on finishes, like marbles to quality, quality finishes, we'll go top of the line.
01:04:42But that's a much bigger project.
01:04:46When you look at the fact that they've taken this beautiful building and destroyed it,
01:04:51they've taken down the beautiful ceilings with eagles, they've taken down the walls
01:04:55that are a foot and a half thick, masonry, you couldn't hear from office to office.
01:05:01They ripped it all down.
01:05:03They ripped down, because Kevin Warsh, who's terrific, said, gee, the saddest thing is they
01:05:08ripped down the nicest building in Washington for boardrooms and all.
01:05:11Did you know about that building?
01:05:12They ripped it down.
01:05:14The boardroom building, it was beautiful, and they ripped it down.
01:05:17And probably because it cost so much to fix it.
01:05:20So I would have done that job for 25 million, had money left over it.
01:05:24It's going to cost more than, in my opinion, it's not going to open for a long time.
01:05:29You know, Kevin may not be able to have an office.
01:05:31I'm going to have to get him an office.
01:05:32Can you give him an office?
01:05:33Yes, please.
01:05:34Bobby, do you have some space open there, please?
01:05:36Yeah, we have a lot of space.
01:05:36But it's more than you think.
01:05:40But we're going to have Kevin sitting right next to you, Bobby.
01:05:44But it may not open for a long time.
01:05:46I looked at it the other day.
01:05:47It's a see-through.
01:05:48See-through, you know, that means the walls aren't even up yet.
01:05:50This is after years and years of construction.
01:05:53And somehow, you have to find out what went wrong.
01:05:57That a small building, I could have done it for $25 million that had money left out.
01:06:02It would have been beautiful.
01:06:03That a small building can cost $4 billion?
01:06:08It may never open.
01:06:09It may never open.
01:06:10And we have to get to that.
01:06:12On top of that, he's been terrible in interest rates because he should have lowered interest rates.
01:06:15That's why I call him Jerome Too Late.
01:06:18Too Late is his nickname.
01:06:20Jerome Too Late, pal.
01:06:21He likes me a lot.
01:06:22Thank you very much.
01:06:23Thank you, Press.
01:06:25Thank you, Press.
01:06:26Thank you, Press.
01:06:26Thank you, Press.
01:06:29Thank you, Press.
01:06:29Thank you, Press.
01:06:35Thank you, Press.
01:06:54Keep moving in.
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