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Speaker 1: He's editor in chief of Breitbart News and a New

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Speaker 1: York Times best selling author, and on this podcast he

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Speaker 1: brings deep research, prescient analysis at world class guests. He's

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Speaker 1: Alex Marlow and this is the Alex Marlow Show.

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Speaker 2: I'm Alex Marlow.

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Speaker 3: I'm the editor in chief of bright Bart News, also

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Speaker 3: the host of The Alex Marlow Show radio show and podcast.

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Speaker 2: And perhaps the thing.

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Speaker 3: I'm most proud of which I was the first employee

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Speaker 3: of bright Bart News, hired by Andrew Breitbart about seventeen

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Speaker 3: years ago, which is an amazing thing and something I'm

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Speaker 3: proud of every single day. Thank you all for being here,

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Speaker 3: and we've got a great morning of conversations for you.

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Speaker 3: Should be informative, interesting, and hopefully, in the spirit of Breitbart,

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Speaker 3: hopefully break some news here as well. We also are

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Speaker 3: continuing our event series. We've had lots of great events.

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Speaker 3: The last one was with the Vice President and the

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Speaker 3: next one is already on the books with the FCC Chairman,

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Speaker 3: Brendan Carr. So with those invitations, we'll be going out soon,

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Speaker 3: so stay tuned for that. We should have a ton

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Speaker 3: for this year. Before we get stars, I want to

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Speaker 3: thank two terrific sponsors that we have t One Energy

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Speaker 3: and Lockheed Martin. Thank you very much for making the

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Speaker 3: event possible. So we also appreciate we have some other

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Speaker 3: partners with us, including the Alpha Institute and CGCN. Thank

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Speaker 3: you all as well for making this happen. I have

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Speaker 3: a co host today who I'm very thrilled to bring up.

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Speaker 3: He is my partner in crime on the Breitbart Business Digest.

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Speaker 3: Everyone go to Brybart dot com and subscribe right now.

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Speaker 3: Our economic and finance editor, and I think the guy

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Speaker 3: who knows maga economics better than anyone, our finance editor,

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Speaker 3: John Carney.

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Speaker 2: Thank you, Alex.

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Speaker 3: All right, well, without your further delay, let's bring up

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Speaker 3: the Honorable Secretary of Commerce, Howard Latnik.

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Speaker 2: Hey guy, mister Secretary, thanks for being here, so nice

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Speaker 2: to see you.

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Speaker 3: All right, So, of course I had some opening questions

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Speaker 3: all planned out, and then I woke up this morning

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Speaker 3: and something spectacular has happened within our country. Jobs data

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Speaker 3: is ridiculous, blowout numbers one hundred and thirty thousand new

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Speaker 3: jobs versus fifty five thousand expected unemployment, rates down, wages

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Speaker 3: are going up, and our favorite of bright our news,

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Speaker 3: the federal government lost thirty four thousand jobs. Pretty amazing stuff.

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Speaker 3: This ties into so much of the agenda. But your reaction, well.

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Speaker 4: The President is driving growth in America, right.

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Speaker 2: I mean, you think about how you drive growth.

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Speaker 4: You cut you cut down your imports right by tariffing them.

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Speaker 4: You drive your exports by opening all these foreign markets

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Speaker 4: and driving their tariffs down, right, and those two things

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Speaker 4: obviously drive economic growth.

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Speaker 2: Then you bring eighteen trillion dollars.

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Speaker 4: The President loves that number because it's monstrous trillion dollars

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Speaker 4: of domestic investment, all these factories being built here, and

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Speaker 4: what you're going to get is you're going to get

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Speaker 4: a manufacturing rebirth in America. You're going to get construction

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Speaker 4: jobs blowing out the doors, and those are going to

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Speaker 4: be followed by manufacturing jobs coming. So I think you're

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Speaker 4: going to get the greatest growth the United States has

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Speaker 4: ever seen. And if we get if Kevin Warsh delivers

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Speaker 4: and cuts rates, I think right now in the first quarter,

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Speaker 4: my opinion is you're going to see six percent growth

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Speaker 4: for the greatest economy in the world. You got to realize,

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Speaker 4: this is a thirty trillion dollar economy growing six percent,

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Speaker 4: So the fastest growth in the world, and it's not

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Speaker 4: like it's easy out there. Right last quarter, the UK

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Speaker 4: group point one, Europe group point four, and Japan shrank

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Speaker 4: point six. So it's like a tough world out there

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Speaker 4: and we're kicking tail.

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Speaker 2: So basically, you think about it, we.

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Speaker 4: Were exporting our economy to the rest of the world

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Speaker 4: by importing all their stuff, buying all their stuff, and

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Speaker 4: employing them. And what the President said is, we're not

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Speaker 4: going to be the same as everyone else. We're not

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Speaker 4: going to grow two point one and they grow one

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Speaker 4: point eight like we're all used to.

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Speaker 2: We are going to be who we are.

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Speaker 4: If we're the greatest economy in the world and the

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Speaker 4: greatest country.

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Speaker 2: In the world, let's grow like we're.

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Speaker 4: The greatest economy in the world and the greatest country.

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Speaker 2: In the world.

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Speaker 4: Let's take air of Americans. And that's what you're feeling.

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Speaker 4: You're going to see it in GDP numbers. You're going

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Speaker 4: to see it.

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Speaker 2: In employment numbers.

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Speaker 4: You're going to see it in manufacturing numbers. You're going

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Speaker 4: to see it relentlessly in twenty twenty six. You're going

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Speaker 4: to feel it coming and we are going to win.

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Speaker 5: I think Alex actually underplayed how good these job numbers

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Speaker 5: were the one hundred and thirty thousand. It's impressive, but

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Speaker 5: it's one hundred and seventy two thousand in the private sector.

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Speaker 5: You guys are shrinking the government while and people said, oh,

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Speaker 5: that'll be a drag on gd that'll be a drag unemployment.

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Speaker 2: It's I don't see the drag.

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Speaker 4: Well, it's kind of funny though, the whole GDP counting government.

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Speaker 4: You know, I hire I think about it. If everybody

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Speaker 4: left the auto industry and joined the DMV Department of

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Speaker 4: Motor Vehicles, they would say GDP is flat. You'd say, no, no, no,

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Speaker 4: come on, if you work for DMV, you're not like

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Speaker 4: producing right right, But that's not the way GDP works.

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Speaker 4: So our view is, let's reduce the size of government.

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Speaker 4: Let's get those people out into the real world, earning,

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Speaker 4: producing and growing, and our economy will actually be better.

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Speaker 2: And that's what we're doing.

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Speaker 4: So when I walked into the Department of Commerce, had

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Speaker 4: fifty two thousand people, and now I have forty thousand people.

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Speaker 2: You could ask me what to the forty thousand people.

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Speaker 2: That's a lot of people.

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Speaker 4: But what you're learning government is the people who work

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Speaker 4: for the government are much better than you can imagine.

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Speaker 4: But they are also very very specific in their focus,

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Speaker 4: so they're really experts at narrow They're not like, you know,

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Speaker 4: when you start a business, you could be the chief

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Speaker 4: cook and bottle washer. You know, in government you have

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Speaker 4: a bottle washer and a cook, right, you just don't

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Speaker 4: have people to do across the board. But they're great.

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Speaker 4: You know, my department's got tons of amazingly great people.

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Speaker 4: But they're very, very narrow and very focused.

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Speaker 2: And obviously what.

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Speaker 4: We want to do is we think technology can dramatically

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Speaker 4: improve this. And I can talk about why there hasn't

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Speaker 4: been technology put into the United States government since nineteen

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Speaker 4: seventy five. It might make you a little nauseous, but

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Speaker 4: they changed the Canton rules in nineteen seventy five and

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Speaker 4: so they stopped putting in new software. But with the

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Speaker 4: advent of AI and this administration, our objective is to

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Speaker 4: rip all the software out of the United States America

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Speaker 4: and put in new software so that the next administration

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Speaker 4: has the right answer to run the government properly.

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Speaker 3: So you threw out a huge number there, six percent

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Speaker 3: GDP growth give us the path to get there.

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Speaker 4: Well, as I said, if imports are down and exports

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Speaker 4: are up. That means when imports are down, we're consuming

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Speaker 4: our own stuff, right, and export's growing.

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Speaker 2: Right.

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Speaker 4: We'd smashed down tariffs across the world, so now our

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Speaker 4: people have the ability to sell their goods overseas.

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Speaker 2: Right.

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Speaker 4: So those two things together, and then you bring that

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Speaker 4: in with construction. I mean I went, I went to

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Speaker 4: a groundbreaking of a one hundred billion dollar megafab to

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Speaker 4: build high bandwidth memory in Syracuse, New York. Now, this

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Speaker 4: will give you a good idea of how this works.

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Speaker 4: Why would someone build one hundred billion dollar semiconductive factory

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Speaker 4: this this is not the data center. This is like

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Speaker 4: literally making the chips that go in the data center.

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Speaker 4: One hundred billion dollar factories, forty thousand construction jobs, twenty

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Speaker 4: five thousand.

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Speaker 2: People going to work in the.

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Speaker 4: High tech factory going forward, and these are technical jobs.

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Speaker 4: Why would you build in Syracuse? Syracuse like the basketball

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Speaker 4: team we used to see when they were great, they'd

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Speaker 4: play in the Carrier Dome, right, because there was a

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Speaker 4: big industrial complex. Ge was there, Carrier was there, and

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Speaker 4: they all left. But what didn't they leave. They left

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Speaker 4: these hulking old factories that need to be torn down.

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Speaker 4: But they had stranded power. Right if you think about

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Speaker 4: all these communities, they had paper mills, they had steel factories,

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Speaker 4: they had all.

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Speaker 2: This power that no one's now using.

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Speaker 4: And what you're going to see is you're going to

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Speaker 4: see the revitalization, the resurrection of all these community because

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Speaker 4: they built the power once upon a time and that

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Speaker 4: power is sitting there kind of cheap, like the Geico money.

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Speaker 4: You know, it's kind of staring at people saying.

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Speaker 2: Cheap power, cheap power.

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Speaker 4: And you're going to see these communities come back to life.

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Speaker 4: And it's beautiful because, let's face it, you know, when

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Speaker 4: we went and did a groundbreaking for one hundred billion dollar.

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Speaker 2: Factory in Syracuse, I don't think they'd seen anything.

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Speaker 4: I think they'd only heard the sucking sound of everybody leaving.

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Speaker 4: I don't think they ever saw the fact that there's

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Speaker 4: going to be monstrous amount of trucks. And by the way,

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Speaker 4: just for a little fun, what did we have to

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Speaker 4: do as the Trump administration to get that factory built?

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Speaker 4: Besides negotiating with Micron, besides changing the terms of the

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Speaker 4: Biden administration Chips Act, which they had messed up completely,

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Speaker 4: and all that kind of stuff they had Theoretically, a bat,

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Speaker 4: I'm not kidding, you can't make this stuff up.

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Speaker 2: Okay, A bat habitat in the tree in this forest.

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Speaker 4: And I'm like, well, can you prove there's a bad

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Speaker 4: hab known because I didn't know bats I have habitats that.

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Speaker 2: Live in the trees.

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Speaker 4: So we attacked the science, which was of course bullshit,

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Speaker 4: and then they built one hundred billion dollar But can

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Speaker 4: you imagine there are people saying, I want to protect

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Speaker 4: the bats in these trees rather than employing forty thousand

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Speaker 4: construction workers in twenty five thousand Americans to drive the

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Speaker 4: proper growth of America and build semiconductors in America. It's

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Speaker 4: just it's an illogical set of thoughts by the Democrats.

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Speaker 2: It's just illogical.

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Speaker 4: It's contrary to the interests of the people of America

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Speaker 4: in exchange for anybody else. And I think that's what

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Speaker 4: the Trump administration is here to address that we want

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Speaker 4: to put Americans first.

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Speaker 2: We want to get Americans in the.

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Speaker 4: Job, we want to build and resure our manufacturing and

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Speaker 4: B and B who we were met to be, which

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Speaker 4: is the greatest country on Earth with the greatest economy

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Speaker 4: on Earth, because we have the greatest people on earth.

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Speaker 3: So I want to get into manufacturing, productivity and your

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Speaker 3: efforts to slash the government. But I think it's really

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Speaker 3: important for some people to hear a little more about

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Speaker 3: your background. I think a lot of the people maybe

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Speaker 3: in the room, are familiar with it, but not everyone

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Speaker 3: watching will be. But you famously had five floors in

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Speaker 3: the World Trade Center and you lost six hundred I

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Speaker 3: think in fifty eight. I want to be precise employees

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Speaker 3: in nine to eleven, including your brother, and you built

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Speaker 3: this company and then you had to rebuild it. It's

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Speaker 3: one of the great American comeback stories of the century.

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Speaker 3: What leadership qualities did you learn during that time that

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Speaker 3: you feel like or really apply now maybe you see

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Speaker 3: them in President Trump. What are things that we can

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Speaker 3: all take away from that.

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Speaker 4: Well, you know, at the time, it was my company,

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Speaker 4: so I had a rule where we only work we

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Speaker 4: only work with people that we like, and that was

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Speaker 4: the rule. And you know that allowed nepotism. But the

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Speaker 4: way I say it this way, we all have the

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Speaker 4: same rainbow of friends. Think about your friends, the ones

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Speaker 4: on this side, smart capable winners.

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Speaker 2: Thinking about your friends now, the ones on this side,

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Speaker 2: make you laugh at the bar hearder.

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Speaker 4: Everybody else a little crazy, a little while. We all

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Speaker 4: have the same friends. Just hire the ones on this side. Okay,

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Speaker 4: that's the deal. So everybody hired their friends. So I

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Speaker 4: had my brother, I had my best friend that had

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Speaker 4: my roommate from college's brother, my other best friend's brother

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Speaker 4: in law. But that was true of the security guards

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Speaker 4: as well. And everybody had that. And the company was

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Speaker 4: a killer. It was a killer who was winning and

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Speaker 4: doing amazingly well, but located on the top five floors

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Speaker 4: of the first trade center that was hit North Tower,

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Speaker 4: and everybody the office got killed. Six hundred and fifty

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Speaker 4: eight people, my brother, Gary, my best friend, all those people.

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Speaker 2: But that was true of everybody. I lost twenty sets

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Speaker 2: of brothers. I think twenty sets of brothers.

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Speaker 4: So we set out to rebuild the company to take

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Speaker 4: care of the families of our friends. And you know,

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Speaker 4: we we said we would give them twenty five percent

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Speaker 4: of our.

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Speaker 2: Profits for five years.

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Speaker 4: But you know, if you think about it, what kind

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Speaker 4: of profits are they're going to be from a company

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Speaker 4: that just had everybody killed. We had two thousand people

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Speaker 4: about around the world, lost six hundred and fifteen, like

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Speaker 4: the Hub, the Hub and spoke. So but we really

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Speaker 4: gave away twenty five percent of our payroll.

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Speaker 2: So everybody who joined, they agreed instead of.

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Speaker 4: Instead of you getting paid two hundred thousand, you get

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Speaker 4: paid a hundred and fifty thousand, and we gave.

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Speaker 2: The families fifty grand.

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Speaker 4: And then in two thousand and eight, so we gave

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Speaker 4: the families one hundred and eighty million dollars six hundred

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Speaker 4: and fifty eight divided a one hundred and eighty just

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Speaker 4: sent out the money, showed them we cared about them,

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Speaker 4: and we were heartbroken for their losses. And then to

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Speaker 4: the end the story, so it's two thousand and eight,

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Speaker 4: like how do I go on with my life?

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Speaker 2: When I had all these new people, like they were

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Speaker 2: all new people.

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Speaker 4: People joined, and those new people committed twenty five percent

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Speaker 4: of their pay to these families. So we took the

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Speaker 4: company public. It's still public. It's called BGC. It was

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Speaker 4: the founder's initials. It's worth between four and five billion.

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Speaker 2: And I gave my stock to the.

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Speaker 4: To all my employees I sold at the IPO enough

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Speaker 4: to give each of them the money back. So if

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Speaker 4: that person gave fifty, they ate fifty and then the

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Speaker 4: next year they got to raise. They gave fifty five

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Speaker 4: and then sixty and then sixty.

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Speaker 2: Five and seventy.

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Speaker 4: So that person gave three hundred thousand dollars to my

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Speaker 4: families and did it for us and they were part

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Speaker 4: of the crowd.

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Speaker 2: I mean, it was amazing.

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Speaker 4: So I gave that person three hundred thousand dollars worth

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Speaker 4: of stock that they sold in the IPOs, so they

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Speaker 4: got all their money back and that was not the deal.

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Speaker 2: And then I gave.

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Speaker 4: Another three hundred thousand that they still own. So my

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Speaker 4: employees they owned thirty percent of the company. You know

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Speaker 4: what percentage they owned the company today?

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Speaker 2: I mean I.

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Speaker 4: Divested, but of the of that company still own thirty

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Speaker 4: who's selling that stock?

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Speaker 2: Right? Which was pretty amazing there, you know.

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Speaker 4: So what I used to do while I was working there,

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Speaker 4: when I used to sayd the best employees, I.

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Speaker 2: Wasn't kidd had the best employees. Has it been you

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Speaker 2: were you were the boss for a long you know,

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Speaker 2: for most twenty years.

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Speaker 5: Yeah, how have you shifted into being an employee?

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Speaker 2: For lack of a better word.

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Speaker 4: So it's different when you work for someone else than

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Speaker 4: when you're the boss.

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Speaker 2: Let me tell you I have a boss now. Fortunately.

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Speaker 4: You know, look, if you told my wife two years

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Speaker 4: ago that I wouldn't be a Canifitzgerald, my company that

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Speaker 4: I was at for forty years and that I ran

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Speaker 4: for thirty years and owned and that, and that I'd

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Speaker 4: worked for someone else, maybe a joke. But fortunately I

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Speaker 4: worked for like the most powerful guy in the world

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Speaker 4: who is also he is the most intuitive person you've

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Speaker 4: ever met. Okay, and I don't suffer fools, right, It's

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Speaker 4: just you know, like like he'll just ask me a question, like.

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Speaker 2: You remember when we were talking.

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Speaker 4: He one day, he says, what's that flag on the

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Speaker 4: back of all those boats?

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Speaker 2: Do you ever seen like.

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Speaker 4: A cruise ship or a you know, a carrier. I've

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Speaker 4: never seen an American flag? He goes, what is that flag?

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Speaker 4: He just says it to me like.

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Speaker 2: And I talked to him at night because I sleep

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Speaker 2: five hours a night. He sleeps, by the way four.

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Speaker 4: So he calls me at twelve o'clock and he says,

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Speaker 4: you know what, I love calling you, ERICAUS. If I

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Speaker 4: call anybody else, first thing I hear is the phone

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Speaker 4: banging on the floor, and then I hear hello.

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Speaker 6: He goes, when I call you at twelve o'clock, you're like,

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Speaker 6: what's up.

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Speaker 4: So I looked up the flag and it's the number

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Speaker 4: one flag on all those boats is from Liberia. Yeah,

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Speaker 4: and the number two flag is Panama. And what they

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Speaker 4: do is they sell these flags for like nothing, and.

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Speaker 2: It's a tax scam. And the whole thing is a

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Speaker 2: tax scam.

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Speaker 4: And so I explained to him, we talk about the

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Speaker 4: tax scan but the only reason I figured out the

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Speaker 4: tax scam is he.

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Speaker 2: Asked me, what's that flag. There's gonna be something wrong

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Speaker 2: with that flag. He does that all the time.

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Speaker 4: He is just incredible and his intuition that he feels it.

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Speaker 4: It feels like it's right, it feels like it's wrong,

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Speaker 4: and he knows his gut is right.

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Speaker 2: And it's really fun. So it's basically, I sold my company.

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Speaker 4: So I told my wife someday, when I sell, I'll

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Speaker 4: have all my money and a lot of free time.

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Speaker 4: Now I have all my money and I have absolutely

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Speaker 4: no time, and I just work on bigger things. And

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Speaker 4: when the President says to me, goes, Howard, you know

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Speaker 4: after this you can't go back.

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Speaker 2: You can't go back.

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Speaker 4: I mean, look I did I did a deal. Japan

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Speaker 4: is a closed market. Okay, ninety four percent of cars

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Speaker 4: in Japan are Japanese. The only American cars they drive

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Speaker 4: there is they drive Cheves by the yakuza. Right, So

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Speaker 4: you're a gangster if you're driving a Chevy. So how

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Speaker 4: are we going to open that market?

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Speaker 2: We're not. So we said you got to pay twenty

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Speaker 2: five percent tariff.

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Speaker 4: Just just pay the tariff, and they're like, no, no, no,

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Speaker 4: it's too expensive, Kippen. So they I negotiated with them,

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Speaker 4: and they gave us five hundred and fifty million dollars

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Speaker 4: to invest on our joint behalf in America. This is

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Speaker 4: not Toyota building a plant. That's called foreign direct Investment FDI.

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Speaker 4: That's the eighteen trillion, right, that's all these factories coming

360
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Speaker 4: to one hundred billion dollar micrond factory one hundred and

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Speaker 4: sixty five billion TSMC. The Taiwan Manufacturing Semiconductor Corporation in

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Speaker 4: Arizona build like those kind of numbers, like huge factories

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Speaker 4: being built. This is literally like there are limited partner.

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Speaker 4: They're giving us five hundred and fifty and we're gonna

365
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Speaker 4: build power, We're gonna build nuclear, We're gonna build power.

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Speaker 4: We're gonna and not only are we gonna build power

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Speaker 4: for ai We're gonna build power and drive down the

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Speaker 4: cost of electricity in America so that the people don't

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Speaker 4: see is that clapping, that's nice, So that people don't

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Speaker 4: see a big data center coming in and think that's negative. Yeah,

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Speaker 4: they think I see a big data center, and I

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Speaker 4: think that's positive. So we're gonna build power. We're on shoing.

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Speaker 4: We've done another deal with Taiwan. They're gonna five hundred

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Speaker 4: They're going to invest five hundred billion dollars to reshure

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Speaker 4: semiconductor manufacturing to America.

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Speaker 2: That coupled with the Retooled Chips.

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Speaker 4: Act, which is five hundred and fifty billion, right, plus

378
00:20:05,119 --> 00:20:07,040
Speaker 4: the Korean deal, we're going to have one point two

379
00:20:07,119 --> 00:20:12,399
Speaker 4: trillion dollars of semiconductive manufacturing coming to America. Right, So

380
00:20:12,440 --> 00:20:15,200
Speaker 4: I'm working on five hundred billion and three hundred and

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Speaker 4: fifty billion. And then he says, we what are you

382
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Speaker 4: gonna do, Like go back and try to negotiate with

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Speaker 4: Morgan Stanley for like a seventy five thousand dollars commissioner.

384
00:20:23,119 --> 00:20:25,720
Speaker 6: You'd be like, that's too want you also forget it

385
00:20:25,800 --> 00:20:29,080
Speaker 6: you can never go back because this is just bigger

386
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Speaker 6: because all I care about, think about it, I divested

387
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Speaker 6: of everything.

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Speaker 2: All I care about is America. I just care about

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Speaker 2: doing the best for America.

390
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Speaker 4: He only cares about doing the best for America.

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Speaker 3: So I want to get into a couple of specifics

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Speaker 3: on the agenda. But before we do that, you mentioned

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Speaker 3: AI twice, and I want to ask because a lot

394
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Speaker 3: of Americans are concerned about AI that it could come

395
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Speaker 3: for their jobs.

396
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Speaker 2: I think a lot of them don't like the idea.

397
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Speaker 3: Of this omnipresent big tech showing up in their town

398
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Speaker 3: with a new data center. What is the facts? What's

399
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Speaker 3: the reality? What do you say to those types of Americans?

400
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Speaker 2: All right, So.

401
00:21:06,880 --> 00:21:13,680
Speaker 4: Barack Obama, Barack Cussino Obama as my president, say, got

402
00:21:13,760 --> 00:21:18,800
Speaker 4: rid of shop class in America. His objective was send

403
00:21:18,840 --> 00:21:23,000
Speaker 4: everybody to a liberal arts college to get a marketing degree. Okay,

404
00:21:23,480 --> 00:21:27,440
Speaker 4: And what happened is they went, they went to that college,

405
00:21:27,520 --> 00:21:29,640
Speaker 4: they got the marketing degree, they graduated with a two

406
00:21:29,680 --> 00:21:33,640
Speaker 4: hundred thousand dollars loan. And how's this working for them?

407
00:21:33,640 --> 00:21:36,480
Speaker 4: What job are they going to get that's going to

408
00:21:36,480 --> 00:21:37,520
Speaker 4: cover their two hundred.

409
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Speaker 2: Thousand dollars alone. Where's that American dream? Right?

410
00:21:41,280 --> 00:21:46,560
Speaker 4: And what it did was it broke people's spirit because

411
00:21:46,560 --> 00:21:48,959
Speaker 4: when I grew up, I had shop class, and there

412
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Speaker 4: were kids who.

413
00:21:49,560 --> 00:21:50,560
Speaker 2: Liked to work with their hands.

414
00:21:51,200 --> 00:21:53,560
Speaker 4: And like one of my friends from high school, he

415
00:21:53,640 --> 00:21:56,840
Speaker 4: runs the largest, you know, landscaping business in where I

416
00:21:56,880 --> 00:21:59,280
Speaker 4: grew up, Right, that's who he was. It was always

417
00:21:59,320 --> 00:22:01,400
Speaker 4: going to be that way. So we got to get

418
00:22:01,440 --> 00:22:05,119
Speaker 4: back to that. There are just about just under seven

419
00:22:05,600 --> 00:22:10,800
Speaker 4: million able bodied Americans sitting on the sidelines not working

420
00:22:10,960 --> 00:22:17,520
Speaker 4: in our economy because the jobs aren't there that they want. Now,

421
00:22:18,200 --> 00:22:22,159
Speaker 4: we're going to do the world's biggest training exercise to

422
00:22:22,240 --> 00:22:28,560
Speaker 4: train them to do be robotics technicians, to do HVAC technicians.

423
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Speaker 2: So I went out to.

424
00:22:29,960 --> 00:22:35,399
Speaker 4: Arizona where we broke round again on I think it

425
00:22:35,440 --> 00:22:38,480
Speaker 4: was sixty billion dollar plan. I got, like at least

426
00:22:38,480 --> 00:22:40,800
Speaker 4: when I shovel aground, that's like real money, you know.

427
00:22:41,680 --> 00:22:44,560
Speaker 2: And they were opening one of.

428
00:22:44,520 --> 00:22:47,359
Speaker 4: The fabs to make semiconductors in America. When we walked

429
00:22:47,400 --> 00:22:51,040
Speaker 4: in the door, there were none in America, none, and

430
00:22:51,119 --> 00:22:54,520
Speaker 4: all made in Taiwan, you know, eighty one miles from

431
00:22:54,560 --> 00:22:56,639
Speaker 4: China and nine thousand miles from us.

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Speaker 2: That's a genius move. There's genius for you.

433
00:23:00,080 --> 00:23:02,959
Speaker 4: We need we need chips to run everything, our phones,

434
00:23:03,040 --> 00:23:08,600
Speaker 4: our PCs, drones, missiles, planes, and we don't make them here.

435
00:23:09,280 --> 00:23:12,000
Speaker 2: I'mb asked. So we need to make them here.

436
00:23:12,600 --> 00:23:15,080
Speaker 4: And our objective is to leave with a forty percent

437
00:23:15,160 --> 00:23:17,480
Speaker 4: market share, which would be a trillion, two hundred million

438
00:23:17,520 --> 00:23:20,640
Speaker 4: dollars of investment now right.

439
00:23:20,960 --> 00:23:21,920
Speaker 2: And I need some guy.

440
00:23:23,119 --> 00:23:25,240
Speaker 4: He's got, you know, like there's you know, the earring

441
00:23:25,240 --> 00:23:27,600
Speaker 4: where you get stick your pinky through the hole in

442
00:23:27,640 --> 00:23:31,800
Speaker 4: the guy's right and he's tatted up the wazoo. And

443
00:23:31,880 --> 00:23:34,560
Speaker 4: I sit down with the guy. It's just for five minutes.

444
00:23:34,800 --> 00:23:37,639
Speaker 4: And he was coming out of the clean room and

445
00:23:38,000 --> 00:23:38,960
Speaker 4: I said, what's your job?

446
00:23:39,800 --> 00:23:43,160
Speaker 2: He said, I played tetris all day. I said, really,

447
00:23:43,160 --> 00:23:44,680
Speaker 2: what do you do? He goes, No, no, he goes,

448
00:23:44,960 --> 00:23:45,879
Speaker 2: I'm a pipefitter.

449
00:23:46,480 --> 00:23:49,280
Speaker 4: He goes, and I've got this much space to do this,

450
00:23:49,400 --> 00:23:51,320
Speaker 4: and I have to get this through, this and this through.

451
00:23:51,359 --> 00:23:52,800
Speaker 4: He goes, I got the greatest job.

452
00:23:53,480 --> 00:23:55,360
Speaker 2: And how much you make? He goes.

453
00:23:55,480 --> 00:23:57,960
Speaker 4: Bucket a quarter? He goes, I started at seventy five minute,

454
00:23:57,920 --> 00:23:59,560
Speaker 4: bucket a quarter. I go where can you get through?

455
00:23:59,600 --> 00:24:03,879
Speaker 4: He goes like two hundred. It's like pretty like and

456
00:24:03,960 --> 00:24:08,800
Speaker 4: he loved his job, right, And that's an HVAC technician.

457
00:24:08,800 --> 00:24:10,679
Speaker 2: He's not putting air conditioning in your house.

458
00:24:11,359 --> 00:24:14,400
Speaker 4: Okay, this is doing the highest tech clean room.

459
00:24:14,920 --> 00:24:15,080
Speaker 2: Right.

460
00:24:15,119 --> 00:24:19,280
Speaker 4: They need to cool that equipment, and water matters and

461
00:24:19,440 --> 00:24:25,440
Speaker 4: HVAC matters, right, and all these jobs robotics technicians, they matter, right,

462
00:24:25,480 --> 00:24:28,560
Speaker 4: And these jobs are coming. And these jobs start at

463
00:24:28,560 --> 00:24:30,600
Speaker 4: seventy five eighty grand and go up from there.

464
00:24:31,000 --> 00:24:32,040
Speaker 2: And we're going to get.

465
00:24:31,880 --> 00:24:35,880
Speaker 4: Those people off the couch into the workforce and they're

466
00:24:35,920 --> 00:24:37,359
Speaker 4: going to be happy, and it's going to be the

467
00:24:38,000 --> 00:24:39,600
Speaker 4: new world of production.

468
00:24:39,800 --> 00:24:39,919
Speaker 2: Right.

469
00:24:39,960 --> 00:24:45,200
Speaker 4: This is advanced manufacturing in America. See, we couldn't do

470
00:24:45,240 --> 00:24:50,400
Speaker 4: this ten years ago. He couldn't bring manufacturing here because

471
00:24:50,720 --> 00:24:53,280
Speaker 4: you know, the iPhone's got You know, they have one

472
00:24:53,440 --> 00:24:57,320
Speaker 4: factory in China where there's two hundred nineteen year olds working.

473
00:24:57,920 --> 00:24:59,320
Speaker 2: He said, what nineteen year olds?

474
00:24:59,400 --> 00:25:01,960
Speaker 4: Oh, their ice, it is really good and they screw

475
00:25:02,000 --> 00:25:03,320
Speaker 4: in this little screwed thing.

476
00:25:03,920 --> 00:25:04,160
Speaker 2: Right.

477
00:25:04,359 --> 00:25:07,240
Speaker 4: But so we can't do that, right, We just don't

478
00:25:07,240 --> 00:25:09,040
Speaker 4: have the million people who are going to work in

479
00:25:09,080 --> 00:25:12,240
Speaker 4: that kind of factory. But you know, that's going to

480
00:25:12,280 --> 00:25:16,199
Speaker 4: be automated. You know, that's gonna be robotics. And you

481
00:25:16,320 --> 00:25:18,399
Speaker 4: know I need twenty five thousand people to work in

482
00:25:18,400 --> 00:25:20,800
Speaker 4: that factory. Sure, I don't need two hundred thousand. I

483
00:25:20,880 --> 00:25:23,879
Speaker 4: need twenty five thousand. But those twenty five thousand, that's

484
00:25:23,920 --> 00:25:27,560
Speaker 4: an American job. So the world is coming to us.

485
00:25:28,400 --> 00:25:31,440
Speaker 4: And the President understands the world is coming to us,

486
00:25:31,840 --> 00:25:35,560
Speaker 4: and he's built the world's biggest catchers met.

487
00:25:36,000 --> 00:25:36,800
Speaker 2: To bring it here.

488
00:25:36,840 --> 00:25:40,199
Speaker 4: And that's eighteen trillion, right, that's that's you know. I

489
00:25:40,200 --> 00:25:43,280
Speaker 4: mean you got open Aiye, you got Meda, you got Google,

490
00:25:43,440 --> 00:25:47,880
Speaker 4: They've each Apple, they've each aroound six hundred billion dollars

491
00:25:47,960 --> 00:25:53,240
Speaker 4: or more. That's twenty a half trillion on the first

492
00:25:53,280 --> 00:25:55,480
Speaker 4: four numbers I just laid out. Some people is ah,

493
00:25:55,680 --> 00:25:58,920
Speaker 4: he's not going to do that much, Oh boloney. The

494
00:25:59,480 --> 00:26:03,200
Speaker 4: scale of what we are building in America is awesome.

495
00:26:03,359 --> 00:26:06,240
Speaker 4: The growth is going to be awesome, The jobs are

496
00:26:06,280 --> 00:26:10,439
Speaker 4: going to be awesome. And the separation of American growth

497
00:26:10,480 --> 00:26:11,520
Speaker 4: from the rest of the world.

498
00:26:12,359 --> 00:26:14,280
Speaker 2: Right I go around the world that I say.

499
00:26:14,240 --> 00:26:19,159
Speaker 4: Just watch us copy copy us, don't do it the

500
00:26:19,200 --> 00:26:22,280
Speaker 4: old way, don't find our tech companies, don't regulate our

501
00:26:22,320 --> 00:26:23,440
Speaker 4: tech companies.

502
00:26:23,720 --> 00:26:27,119
Speaker 2: Embrace them, show them love and affection, and you know

503
00:26:27,119 --> 00:26:28,320
Speaker 2: what you'll get in return.

504
00:26:28,080 --> 00:26:31,439
Speaker 4: You'll get a fifty billion dollar investment instead of five.

505
00:26:32,320 --> 00:26:37,040
Speaker 5: How comprehensive can our reassuring be. You've talked a lot

506
00:26:37,080 --> 00:26:40,159
Speaker 5: about high tech reaturing, but I tried to buy a

507
00:26:40,240 --> 00:26:43,840
Speaker 5: music stand for my daughter and they all come from China.

508
00:26:44,760 --> 00:26:48,480
Speaker 2: We don't. We used to be amazing.

509
00:26:47,880 --> 00:26:52,280
Speaker 5: Furniture manufacturers in this country. We've lost a lot of things,

510
00:26:52,320 --> 00:26:54,080
Speaker 5: not just tech. Do you think we can bring some

511
00:26:54,160 --> 00:26:55,400
Speaker 5: of that back?

512
00:26:55,440 --> 00:26:55,960
Speaker 2: Maybe? Yeh.

513
00:26:55,960 --> 00:26:59,000
Speaker 5: As you said, there's probably a lot of high tech

514
00:26:59,040 --> 00:27:03,280
Speaker 5: ways to do these things. So how broad do you

515
00:27:03,320 --> 00:27:04,680
Speaker 5: see the restoring agenda?

516
00:27:05,000 --> 00:27:11,040
Speaker 4: So the opportunity is that manufacturing is being automated, and

517
00:27:11,320 --> 00:27:13,920
Speaker 4: automated manufacturing is perfect for America.

518
00:27:14,880 --> 00:27:15,080
Speaker 2: Right.

519
00:27:15,119 --> 00:27:19,320
Speaker 4: We don't have a billion people, right, so we're going

520
00:27:19,400 --> 00:27:21,520
Speaker 4: to think we need to be a higher tech kind

521
00:27:21,560 --> 00:27:24,840
Speaker 4: of thought so that we can work the way.

522
00:27:24,760 --> 00:27:26,720
Speaker 2: This is working. So this is coming to us.

523
00:27:27,320 --> 00:27:32,560
Speaker 4: I think there are some things that should be made overseas. Sandals,

524
00:27:33,160 --> 00:27:36,639
Speaker 4: cheap T shirts. We're cool with that. Well, let's be clear,

525
00:27:37,040 --> 00:27:38,919
Speaker 4: we're cool with that being made overseas.

526
00:27:39,480 --> 00:27:41,920
Speaker 2: Okay, but you know.

527
00:27:41,920 --> 00:27:45,639
Speaker 4: You can do enormous amount of manufacturing domestically once you

528
00:27:45,760 --> 00:27:49,040
Speaker 4: think about what is possible now with computer based and

529
00:27:49,080 --> 00:27:51,520
Speaker 4: advance based robotics manufacturing.

530
00:27:51,520 --> 00:27:56,040
Speaker 2: And people say, oh, robots, the humanoid robots that.

531
00:27:55,960 --> 00:27:59,880
Speaker 4: Will probably work in your house someday, that's a different thing.

532
00:28:00,000 --> 00:28:02,199
Speaker 2: And I'm talking. I'm talking about Close your eyes and

533
00:28:02,280 --> 00:28:02,920
Speaker 2: just think of a.

534
00:28:02,840 --> 00:28:05,960
Speaker 4: Modern auto plant, you know, with the arm that goes

535
00:28:06,000 --> 00:28:07,080
Speaker 4: out and drills like that.

536
00:28:07,080 --> 00:28:08,760
Speaker 2: That's that's the kind of.

537
00:28:08,800 --> 00:28:13,159
Speaker 4: Robotics, right, it's robotic arms doing stuff. The concept of

538
00:28:13,280 --> 00:28:18,320
Speaker 4: robots and humanoid robots. We're not gonna let Chinese humanoid

539
00:28:18,400 --> 00:28:21,000
Speaker 4: robots into this country. It's just like we're not gonna

540
00:28:21,080 --> 00:28:24,520
Speaker 4: let Chinese electric vehicles into this country. You got to

541
00:28:24,520 --> 00:28:29,840
Speaker 4: realize if you take a Chinese battery in powered car

542
00:28:30,640 --> 00:28:33,639
Speaker 4: and they can just turn it off, right, they all

543
00:28:33,720 --> 00:28:37,520
Speaker 4: have like a called daddy button, right, and a call daddy.

544
00:28:37,280 --> 00:28:38,320
Speaker 2: Button needs to turn it off.

545
00:28:38,480 --> 00:28:41,440
Speaker 4: So if you're buying like solar padls and you know

546
00:28:41,480 --> 00:28:43,640
Speaker 4: we have a conflict with China, and they just turn

547
00:28:43,720 --> 00:28:47,280
Speaker 4: off your solar field and you don't have power, that sucks.

548
00:28:47,920 --> 00:28:52,000
Speaker 4: So you know, people need to think through if you

549
00:28:52,040 --> 00:28:57,880
Speaker 4: could potentially be adversarial, we need to make our pharmaceuticals.

550
00:28:57,040 --> 00:29:00,480
Speaker 2: Here like before he took this job. If you in my.

551
00:29:00,360 --> 00:29:02,680
Speaker 4: Medicine cabinet, I don't think I had a brand in

552
00:29:02,680 --> 00:29:06,520
Speaker 4: pharmaceutical right because everybody says, okay, this is the generic

553
00:29:06,600 --> 00:29:09,680
Speaker 4: version of this, and the generic version of that. You know,

554
00:29:09,720 --> 00:29:13,280
Speaker 4: all those generic versions are all made in China. You know,

555
00:29:13,400 --> 00:29:16,280
Speaker 4: if we if we were adversarial, what makes you think

556
00:29:16,320 --> 00:29:17,160
Speaker 4: you're getting them?

557
00:29:17,840 --> 00:29:20,480
Speaker 2: Number one? And if you got them, what makes you think.

558
00:29:21,000 --> 00:29:23,920
Speaker 4: During your adversarial moment, you're willing to take this bill?

559
00:29:24,480 --> 00:29:24,600
Speaker 2: Here?

560
00:29:24,600 --> 00:29:27,800
Speaker 4: You go, you say no thanks, So we need to

561
00:29:27,800 --> 00:29:31,040
Speaker 4: make that here, and we need to That means you

562
00:29:31,040 --> 00:29:34,600
Speaker 4: have to go down all the ingredients to make sure

563
00:29:34,840 --> 00:29:38,120
Speaker 4: each and every ingredient is made here.

564
00:29:38,960 --> 00:29:42,800
Speaker 2: And so this is my job. My job is I go.

565
00:29:42,720 --> 00:29:45,840
Speaker 4: Down to every line item and say, okay, where are

566
00:29:45,840 --> 00:29:46,280
Speaker 4: we with this?

567
00:29:46,360 --> 00:29:48,000
Speaker 2: Where are we with this? Where are we with this?

568
00:29:48,040 --> 00:29:49,840
Speaker 2: Where are we on every critical mineral.

569
00:29:49,880 --> 00:29:52,560
Speaker 4: I'm back in eleventh grade chemistry class, just where I

570
00:29:52,600 --> 00:29:55,440
Speaker 4: wanted to be. I get the periodic table out, I

571
00:29:55,480 --> 00:29:58,360
Speaker 4: got the heavies and the lights like I didn't want

572
00:29:58,400 --> 00:30:00,400
Speaker 4: to do that, I really I didn't want to do

573
00:30:00,440 --> 00:30:03,040
Speaker 4: that I took chemistry in college because all my friends

574
00:30:03,120 --> 00:30:05,800
Speaker 4: wanted to be pre med. And like, after the first semester,

575
00:30:05,880 --> 00:30:07,520
Speaker 4: I'm like, what the hell am I doing? I can't

576
00:30:07,560 --> 00:30:10,320
Speaker 4: stand this stuff. So I was hoping I wouldn't have

577
00:30:10,360 --> 00:30:13,680
Speaker 4: to do the elements again, But here I am that doing,

578
00:30:13,760 --> 00:30:21,520
Speaker 4: you know, yettrium. But the answer is, these are key

579
00:30:21,680 --> 00:30:26,239
Speaker 4: ingredients and we cannot rely on an adversary to two

580
00:30:26,320 --> 00:30:29,160
Speaker 4: key ingredients. And we have to have a nice mix

581
00:30:29,200 --> 00:30:31,880
Speaker 4: of us and our allies doing it. But it can't

582
00:30:31,880 --> 00:30:34,960
Speaker 4: be adversaries because the adversaries weaponize it.

583
00:30:35,720 --> 00:30:38,320
Speaker 2: And they did already, Like you heard.

584
00:30:38,120 --> 00:30:42,360
Speaker 4: About this concept magnets, right, They put magnets in cars

585
00:30:42,400 --> 00:30:45,880
Speaker 4: and it just the average cost of a magnet in

586
00:30:45,880 --> 00:30:49,680
Speaker 4: a car is twenty bucks twenty They sell it by

587
00:30:49,720 --> 00:30:52,640
Speaker 4: the pound. It's a fifty five bucks a pound. This

588
00:30:52,720 --> 00:30:56,080
Speaker 4: isn't like high tech. This is fifty five bucks a pound,

589
00:30:56,400 --> 00:30:58,640
Speaker 4: twenty bucks in a car. But it's like me giving

590
00:30:58,680 --> 00:31:02,520
Speaker 4: you a really cool bookcase for Christmas, and I don't

591
00:31:02,560 --> 00:31:03,760
Speaker 4: give you the Allen wrench.

592
00:31:04,480 --> 00:31:06,240
Speaker 2: It's cost a dollar to put it together.

593
00:31:06,840 --> 00:31:11,440
Speaker 4: Right, So they said, well, I'm not sending you the magnets,

594
00:31:12,560 --> 00:31:13,200
Speaker 4: and they make.

595
00:31:13,080 --> 00:31:16,040
Speaker 2: Them all all.

596
00:31:16,240 --> 00:31:18,360
Speaker 4: It's like not sending you the key to the car.

597
00:31:19,200 --> 00:31:20,360
Speaker 2: You can't run the car.

598
00:31:20,560 --> 00:31:28,120
Speaker 4: So I thought that was a great advantage because woke

599
00:31:28,200 --> 00:31:30,600
Speaker 4: us up and said you got to fix that. And

600
00:31:30,680 --> 00:31:35,200
Speaker 4: this administration is not I'm doing everything we can for

601
00:31:35,240 --> 00:31:38,080
Speaker 4: these four years, and the whole administration is working together

602
00:31:38,120 --> 00:31:40,800
Speaker 4: to do everything it can over these four years to

603
00:31:41,000 --> 00:31:44,480
Speaker 4: get all those choke points off of our neck.

604
00:31:45,720 --> 00:31:47,800
Speaker 3: So, speaking of waking up, one thing, that was a

605
00:31:47,880 --> 00:31:50,360
Speaker 3: huge reset with your policy and the presidents as well

606
00:31:50,360 --> 00:31:53,760
Speaker 3: as the Treasury Secretary Scott Essence totally rethinking how we

607
00:31:53,800 --> 00:31:56,080
Speaker 3: think of trade deficits. Is I was told my whole

608
00:31:56,080 --> 00:31:58,560
Speaker 3: life trade deficits don't matter. It's totally fine. And you

609
00:31:58,560 --> 00:32:00,440
Speaker 3: guys have reset. That's not only to care, but you

610
00:32:00,440 --> 00:32:04,840
Speaker 3: have other countries paying down their tearoff by trying to

611
00:32:04,960 --> 00:32:09,200
Speaker 3: ameliorate that situation. Talk us about that mindset and maybe

612
00:32:09,360 --> 00:32:10,880
Speaker 3: what are the next big trade deals ahead.

613
00:32:11,760 --> 00:32:15,719
Speaker 4: Nineteen eighty five, the United States of America, all our

614
00:32:15,800 --> 00:32:16,720
Speaker 4: companies take.

615
00:32:16,600 --> 00:32:17,720
Speaker 2: The whole thing.

616
00:32:18,360 --> 00:32:21,440
Speaker 4: We own more of the rest of the world than

617
00:32:21,480 --> 00:32:23,200
Speaker 4: they own of us, about one hundred and.

618
00:32:23,200 --> 00:32:24,760
Speaker 2: Fifty billion count.

619
00:32:24,560 --> 00:32:30,080
Speaker 4: Stocks, debt, everything, companies owning shares, You name it, we

620
00:32:30,200 --> 00:32:31,320
Speaker 4: count it, we own more.

621
00:32:31,200 --> 00:32:32,720
Speaker 2: Of them nineteen eighty five.

622
00:32:33,040 --> 00:32:36,360
Speaker 4: Then we start running these massive trade deficits. Now, what

623
00:32:36,440 --> 00:32:40,480
Speaker 4: I learned in college, like sophomore year, was I buy

624
00:32:40,560 --> 00:32:44,480
Speaker 4: your cars with my printed dollars, I buy your wine

625
00:32:44,520 --> 00:32:47,280
Speaker 4: with my printed dollars, and I keep buying all your

626
00:32:47,280 --> 00:32:49,080
Speaker 4: good stuff with my make belief dollars.

627
00:32:49,120 --> 00:32:53,520
Speaker 2: And eventually you say, get lost, right, and you devalue

628
00:32:53,560 --> 00:32:54,080
Speaker 2: my dollar.

629
00:32:55,040 --> 00:32:57,160
Speaker 4: It doesn't work anymore than they buy our stuff. And

630
00:32:57,160 --> 00:33:00,400
Speaker 4: that's how the world works. There's floating currents, and it's

631
00:33:00,400 --> 00:33:03,920
Speaker 4: all fine. The problem is we're too damn smart. We

632
00:33:03,960 --> 00:33:07,160
Speaker 4: invent the light bulb, we invest the transistor, we invent

633
00:33:07,200 --> 00:33:09,120
Speaker 4: the GPU, We keep inventing stuff.

634
00:33:09,320 --> 00:33:11,200
Speaker 2: So instead of devaluing the.

635
00:33:11,200 --> 00:33:15,160
Speaker 4: Dollar, you know what they do, They buy us out

636
00:33:15,240 --> 00:33:19,160
Speaker 4: from under us. So where are we is we enter

637
00:33:19,240 --> 00:33:24,680
Speaker 4: twenty twenty five, the rest of the world owns twenty

638
00:33:24,720 --> 00:33:30,760
Speaker 4: six trillion more of us than we own of them.

639
00:33:31,160 --> 00:33:36,240
Speaker 4: That is a rough forty years. It's a rough forty years.

640
00:33:36,280 --> 00:33:38,480
Speaker 4: So you know what the President says to me, He goes,

641
00:33:38,880 --> 00:33:39,360
Speaker 4: you want to.

642
00:33:39,280 --> 00:33:41,720
Speaker 2: Be mean to them, like we're doing a trade.

643
00:33:41,440 --> 00:33:43,200
Speaker 4: Deal, Like you know, we're talking to the Middle East,

644
00:33:43,200 --> 00:33:45,120
Speaker 4: countries and say you want to be tough.

645
00:33:45,760 --> 00:33:47,160
Speaker 2: I said, yeah, what do you think I should say?

646
00:33:47,160 --> 00:33:52,080
Speaker 4: So, say you're not allowed to invest in America.

647
00:33:50,800 --> 00:33:52,400
Speaker 6: Because they say, oh, we're going to invest, you know,

648
00:33:52,600 --> 00:33:54,840
Speaker 6: five hundred billion in America. Say nah, we don't want it.

649
00:33:54,840 --> 00:33:57,640
Speaker 6: They go no, no, no, We like where what's your alternative?

650
00:33:58,320 --> 00:33:58,440
Speaker 2: Right?

651
00:33:58,480 --> 00:34:00,160
Speaker 4: Where else are you going to put your money? It's

652
00:34:00,160 --> 00:34:04,440
Speaker 4: as great as our place? Answer is nowhere. So it's

653
00:34:04,480 --> 00:34:07,960
Speaker 4: the greatest economy. We need to balance that, and that's

654
00:34:08,000 --> 00:34:12,239
Speaker 4: what's happening. We need to reassert who we are and

655
00:34:12,280 --> 00:34:14,920
Speaker 4: what we are in the world and stop letting everybody

656
00:34:14,960 --> 00:34:18,839
Speaker 4: take advantage of us. Everybody buy us, everybody own us.

657
00:34:19,080 --> 00:34:21,719
Speaker 4: The way I say it is, there's two islands. One

658
00:34:21,800 --> 00:34:24,480
Speaker 4: is where all the brilliant people live and they invent everything.

659
00:34:25,200 --> 00:34:28,920
Speaker 4: The other one is where everybody produces everything the geniuses invent.

660
00:34:29,640 --> 00:34:31,960
Speaker 4: Then the geniuses buy it from the guy who makes it,

661
00:34:32,640 --> 00:34:34,520
Speaker 4: and the guys who make it use the money to

662
00:34:34,560 --> 00:34:37,719
Speaker 4: buy the other island, and sooner or later the geniuses

663
00:34:37,719 --> 00:34:40,640
Speaker 4: are the great engineer who worked for them. Right thin,

664
00:34:40,880 --> 00:34:44,160
Speaker 4: it just gets bought out from Undia. So the president

665
00:34:44,320 --> 00:34:48,120
Speaker 4: understands this and he is on it and he talked

666
00:34:48,160 --> 00:34:52,400
Speaker 4: about this in the eighties and nobody ever did. And

667
00:34:52,440 --> 00:34:55,120
Speaker 4: he's the only one who talked about it right. And

668
00:34:55,160 --> 00:34:56,959
Speaker 4: by the way, if you thought I knew the first

669
00:34:56,960 --> 00:35:00,359
Speaker 4: thing about tariff before I worked for him, that would

670
00:35:00,400 --> 00:35:00,840
Speaker 4: be false.

671
00:35:01,680 --> 00:35:04,239
Speaker 2: I thought when I learned this sophomore in college was

672
00:35:04,280 --> 00:35:07,400
Speaker 2: I don't know. It sounded fine to me, and he

673
00:35:07,440 --> 00:35:08,280
Speaker 2: showed me otherwise.

674
00:35:08,280 --> 00:35:12,160
Speaker 4: And then like the boat, then I did the most reading.

675
00:35:11,880 --> 00:35:13,560
Speaker 2: The most research, the most things.

676
00:35:13,600 --> 00:35:15,680
Speaker 4: And then I tell him the statistic of nineteen eighty

677
00:35:15,760 --> 00:35:18,520
Speaker 4: five and twenty twenty five and all these sort of things.

678
00:35:18,520 --> 00:35:21,080
Speaker 5: And I kindom has said, prickted that we were going

679
00:35:21,120 --> 00:35:23,080
Speaker 5: we were headed for a trade war. You were going

680
00:35:23,120 --> 00:35:25,160
Speaker 5: to show up at these meetings and you know they

681
00:35:25,160 --> 00:35:26,880
Speaker 5: were going to, I don't know, throw water in your

682
00:35:26,920 --> 00:35:28,960
Speaker 5: face and raise their tariffs to infinity.

683
00:35:29,440 --> 00:35:30,400
Speaker 2: That didn't happen.

684
00:35:30,880 --> 00:35:33,799
Speaker 5: Instead, we got I don't want to call it a

685
00:35:33,840 --> 00:35:37,800
Speaker 5: trade surrender. That might be insulting to our trading partners,

686
00:35:37,880 --> 00:35:41,560
Speaker 5: but we got them to agree that this imbalance could

687
00:35:41,600 --> 00:35:45,000
Speaker 5: no longer continue. When you go to these meetings, were

688
00:35:45,000 --> 00:35:49,640
Speaker 5: you surprised? And why do you think the economists got

689
00:35:49,680 --> 00:35:53,319
Speaker 5: it so wrong? Why do you think our trading partners said, yeah,

690
00:35:53,360 --> 00:35:55,320
Speaker 5: you guys are right, We've got to rebalance this.

691
00:35:56,200 --> 00:36:03,000
Speaker 4: We are the consumer of the world, greatest consumption economy

692
00:36:03,440 --> 00:36:08,480
Speaker 4: in the world. You can't live without us because we

693
00:36:08,560 --> 00:36:09,320
Speaker 4: buy your stuff.

694
00:36:10,440 --> 00:36:13,319
Speaker 2: If you make the stuff, we buy the stuff if

695
00:36:13,320 --> 00:36:17,239
Speaker 2: the client doesn't buy it. So you all understand if

696
00:36:17,239 --> 00:36:17,720
Speaker 2: you have.

697
00:36:17,719 --> 00:36:24,480
Speaker 4: One unbelievable, huge, vital and important client, like one that's

698
00:36:25,040 --> 00:36:28,640
Speaker 4: heads and shoulders above everybody else, and there you get

699
00:36:28,640 --> 00:36:32,200
Speaker 4: a little mad at you. That's that's not good. That's

700
00:36:32,200 --> 00:36:34,920
Speaker 4: that good. So when the president would send them a

701
00:36:35,000 --> 00:36:39,560
Speaker 4: letter right and saying I'm pissed at you, the shutters

702
00:36:39,640 --> 00:36:42,520
Speaker 4: in those countries are being serious because these were.

703
00:36:42,360 --> 00:36:43,480
Speaker 2: The body of all their stuff.

704
00:36:43,480 --> 00:36:45,920
Speaker 4: If we close their arms, like think of the Canadian

705
00:36:45,920 --> 00:36:48,960
Speaker 4: guy he goes to China. China has a one point

706
00:36:49,000 --> 00:36:52,479
Speaker 4: two trillion dollar surplus going that way.

707
00:36:52,680 --> 00:36:56,200
Speaker 2: You think they're gonna let Canada sell them anything. Of

708
00:36:56,280 --> 00:36:56,840
Speaker 2: course not.

709
00:36:57,719 --> 00:37:02,520
Speaker 4: They're an outward and they all need what. They all

710
00:37:02,520 --> 00:37:05,600
Speaker 4: need us to buy their stuff. They all need the

711
00:37:05,640 --> 00:37:07,920
Speaker 4: greatest economy in the world to buy their stuff.

712
00:37:08,520 --> 00:37:12,480
Speaker 2: So we knew, because we're.

713
00:37:12,360 --> 00:37:17,080
Speaker 4: The greatest customer of the world, that no one's.

714
00:37:16,800 --> 00:37:17,799
Speaker 2: Gonna fight with us.

715
00:37:18,600 --> 00:37:22,560
Speaker 4: They'll have a little tussle, a little kerf fluffele I

716
00:37:22,680 --> 00:37:26,359
Speaker 4: like to call it, right, But in the end it's

717
00:37:26,400 --> 00:37:30,640
Speaker 4: gonna work out fine, because in the end, Canada sells

718
00:37:30,719 --> 00:37:33,000
Speaker 4: US three hundred billion dollars worth of stuff as opposed

719
00:37:33,040 --> 00:37:39,200
Speaker 4: to nobody else or nobody else, or Europe or nobody else,

720
00:37:39,320 --> 00:37:44,600
Speaker 4: or China or nobody else. And the president he was

721
00:37:44,719 --> 00:37:49,200
Speaker 4: born with the knowledge of leverage. He probably cried, made

722
00:37:49,200 --> 00:37:52,320
Speaker 4: his parents give him a cook eat, you know, beforehand,

723
00:37:52,320 --> 00:37:58,839
Speaker 4: because he just he has that intuition. He understands the

724
00:37:58,880 --> 00:38:03,279
Speaker 4: position of America and plays the cards brilliantly. And it's

725
00:38:03,480 --> 00:38:08,640
Speaker 4: it's it's so much fun for me to work for him,

726
00:38:09,360 --> 00:38:14,080
Speaker 4: because it's I get to execute and extend his ideas.

727
00:38:14,239 --> 00:38:14,440
Speaker 2: You know.

728
00:38:14,520 --> 00:38:17,839
Speaker 4: I come up with, we'll never open Japan, so what

729
00:38:17,840 --> 00:38:19,520
Speaker 4: can we do? Okay, let's get him to pay. How

730
00:38:19,520 --> 00:38:21,160
Speaker 4: are we going to get him to pay? They'll lend

731
00:38:21,239 --> 00:38:23,320
Speaker 4: us money. I'm not borring, he says, I'm not borring

732
00:38:23,320 --> 00:38:24,200
Speaker 4: from Japan.

733
00:38:24,239 --> 00:38:25,440
Speaker 2: What the heck would we borrow? Right?

734
00:38:25,480 --> 00:38:27,520
Speaker 4: And then we go through it until we end up

735
00:38:27,520 --> 00:38:30,759
Speaker 4: with where we are and these deals, and it's the

736
00:38:30,840 --> 00:38:31,360
Speaker 4: most fun.

737
00:38:32,000 --> 00:38:33,200
Speaker 2: So there's a few more gend items.

738
00:38:33,239 --> 00:38:36,000
Speaker 3: I want to quick take on first of all, the

739
00:38:36,040 --> 00:38:39,640
Speaker 3: most aver nation's drug pricing seems to be revolutionarything. Not

740
00:38:39,680 --> 00:38:41,200
Speaker 3: getting a ton of press from our friends in the

741
00:38:41,200 --> 00:38:43,000
Speaker 3: fake news. Can you talk about this?

742
00:38:43,800 --> 00:38:44,080
Speaker 2: Sure?

743
00:38:44,239 --> 00:38:51,720
Speaker 4: So the combination of tariffs and we are their biggest customer.

744
00:38:52,239 --> 00:38:55,600
Speaker 4: So think about we generally speaking for uh, you know,

745
00:38:55,719 --> 00:39:00,680
Speaker 4: for name brand drugs, zempic Manjarro like that.

746
00:39:00,719 --> 00:39:02,359
Speaker 2: That job that shot.

747
00:39:03,120 --> 00:39:09,680
Speaker 4: They we produce seventy five percent of their revenues and

748
00:39:09,719 --> 00:39:11,399
Speaker 4: one hundred percent of their profits.

749
00:39:12,520 --> 00:39:14,799
Speaker 2: Right because we are we are not big payer like

750
00:39:14,840 --> 00:39:16,600
Speaker 2: you said, we pay a thousand dollars. Everyone else pays

751
00:39:16,600 --> 00:39:18,520
Speaker 2: one hundred and fifty bucks, so they may call them

752
00:39:18,520 --> 00:39:19,160
Speaker 2: money from us.

753
00:39:19,320 --> 00:39:23,600
Speaker 4: So when we say we're unhappy, the drug companies have

754
00:39:23,640 --> 00:39:25,319
Speaker 4: to listen. No matter how bad that is, they have

755
00:39:25,320 --> 00:39:29,359
Speaker 4: to listen. So the President said, resure it, make it

756
00:39:29,440 --> 00:39:33,719
Speaker 4: here and take a certain class of drugs and give

757
00:39:33,800 --> 00:39:37,840
Speaker 4: us MFN right, and then you can while you're building

758
00:39:37,880 --> 00:39:40,439
Speaker 4: and restoring here, I won't charge you a massive taft.

759
00:39:41,360 --> 00:39:44,600
Speaker 4: And that combination of me and Bobby Kennedy with the

760
00:39:44,680 --> 00:39:47,560
Speaker 4: you know, the looming shadow of the president, and then

761
00:39:47,600 --> 00:39:50,080
Speaker 4: the economy of the United States, American standing behind him,

762
00:39:50,360 --> 00:39:52,960
Speaker 4: got done the greatest set of deals where we probably

763
00:39:52,960 --> 00:39:55,800
Speaker 4: saved one hundred billion dollars a year for the American

764
00:39:56,520 --> 00:39:59,680
Speaker 4: Medicaid medicare system, right, and we're going to get cheaper

765
00:39:59,760 --> 00:40:02,680
Speaker 4: drugs to America and they're going to be made here

766
00:40:02,719 --> 00:40:05,680
Speaker 4: as well. So it's the combination of I expect we're

767
00:40:05,680 --> 00:40:09,920
Speaker 4: going to have four hundred billion dollars of on shoring

768
00:40:10,160 --> 00:40:13,040
Speaker 4: of pharmaceuticals. We're going to onshore, We're going to figure

769
00:40:13,040 --> 00:40:14,879
Speaker 4: out how to onshore generics as well.

770
00:40:15,520 --> 00:40:17,560
Speaker 2: And I mean, these are just huge numbers.

771
00:40:17,600 --> 00:40:21,680
Speaker 4: One point two trillion for semiconductors, four hundred billion for pharmaceuticals,

772
00:40:22,160 --> 00:40:25,920
Speaker 4: and these come they start at the Commerce Department, and

773
00:40:26,400 --> 00:40:29,279
Speaker 4: maybe no one who had this job ever understood it,

774
00:40:29,960 --> 00:40:32,600
Speaker 4: but nobody who had this job really understood it in

775
00:40:32,600 --> 00:40:34,879
Speaker 4: a way that could work with the President who came

776
00:40:34,960 --> 00:40:38,760
Speaker 4: back with fire, right, and we have four years to get.

777
00:40:38,600 --> 00:40:40,640
Speaker 2: This done, and let me tell you, he's going to

778
00:40:40,680 --> 00:40:41,280
Speaker 2: get it done.

779
00:40:41,400 --> 00:40:44,640
Speaker 3: So you're planning basically a war on waste and abuse

780
00:40:44,680 --> 00:40:47,000
Speaker 3: within the government, starting at Commerce, but I think elsewhere,

781
00:40:47,040 --> 00:40:49,120
Speaker 3: I think it's sort of administration whole government.

782
00:40:49,160 --> 00:40:50,960
Speaker 2: Well, we're all doing it, and I want to hear

783
00:40:51,120 --> 00:40:52,960
Speaker 2: a bit about that. And also in.

784
00:40:54,480 --> 00:40:57,680
Speaker 3: That context, I think that there is the census is

785
00:40:57,680 --> 00:41:00,520
Speaker 3: in your purview, and I heard you've got some evolutionary

786
00:41:00,520 --> 00:41:02,560
Speaker 3: ideas for the census that's coming up. They could evolve

787
00:41:02,880 --> 00:41:04,880
Speaker 3: perhaps lower and federal employment for that.

788
00:41:05,640 --> 00:41:08,960
Speaker 2: Well, the first thing was, you know the census.

789
00:41:09,000 --> 00:41:11,800
Speaker 4: The job of the census is to go to everybody's

790
00:41:11,800 --> 00:41:12,680
Speaker 4: house and count everybody.

791
00:41:12,719 --> 00:41:14,400
Speaker 2: Three hundred and forty million people.

792
00:41:15,000 --> 00:41:17,680
Speaker 4: Right, And so the census, we'd hire five hundred thousand people,

793
00:41:17,680 --> 00:41:20,480
Speaker 4: would train them, rent them cars and gas, and they'd

794
00:41:20,520 --> 00:41:23,719
Speaker 4: go out and try to find people. Which department of

795
00:41:23,760 --> 00:41:27,759
Speaker 4: the United States of America already has five hundred thousand people,

796
00:41:27,800 --> 00:41:31,080
Speaker 4: already has cars and goes to everybody's house every day.

797
00:41:31,800 --> 00:41:35,040
Speaker 2: Oh, the post Office. So here's the genius move.

798
00:41:35,600 --> 00:41:39,160
Speaker 4: We are hiring the post Office to do the census.

799
00:41:39,560 --> 00:41:41,920
Speaker 4: I don't have to hire five hundred thousand people. I

800
00:41:41,920 --> 00:41:44,160
Speaker 4: don't have to teach them where everybody lives, and they

801
00:41:44,280 --> 00:41:48,799
Speaker 4: know where everybody lives. So what that does, by the way,

802
00:41:48,880 --> 00:41:51,560
Speaker 4: So what happens is my department has the money, so

803
00:41:51,640 --> 00:41:54,040
Speaker 4: I'm going to pay the post Office to do it.

804
00:41:54,560 --> 00:41:55,440
Speaker 2: The Post Office is.

805
00:41:55,440 --> 00:41:57,600
Speaker 6: Going to give the postman, you know, thirty bucks when

806
00:41:57,640 --> 00:41:58,480
Speaker 6: he gets out of the car and.

807
00:41:58,400 --> 00:42:00,280
Speaker 2: Does this, and fifty bucks if they do that.

808
00:42:00,000 --> 00:42:02,520
Speaker 4: That kind of thing, and the post office is going

809
00:42:02,560 --> 00:42:05,839
Speaker 4: to go from being a huge loser to break even.

810
00:42:06,840 --> 00:42:08,799
Speaker 2: Right. And we're doing a test.

811
00:42:10,280 --> 00:42:12,720
Speaker 4: On April first of this year for five hundred thousand people.

812
00:42:12,800 --> 00:42:15,680
Speaker 5: And everybody knows their local postman, so they're going to

813
00:42:15,840 --> 00:42:17,040
Speaker 5: answer the door a trust them.

814
00:42:17,080 --> 00:42:20,200
Speaker 4: Imagine someone knocks in the door, We're like, whatever, you're closed,

815
00:42:20,239 --> 00:42:23,400
Speaker 4: Like you opening the door these days? Nah, No, we

816
00:42:23,440 --> 00:42:25,680
Speaker 4: don't know who this person is. But when the postman

817
00:42:25,760 --> 00:42:27,719
Speaker 4: comes up, you're like, I get it. You know, he

818
00:42:27,760 --> 00:42:29,520
Speaker 4: wants to know how many people live here. Already knows

819
00:42:29,520 --> 00:42:29,920
Speaker 4: he just.

820
00:42:30,040 --> 00:42:32,319
Speaker 6: I'm just confirming you and your wife and your four

821
00:42:32,400 --> 00:42:33,160
Speaker 6: kids still live here.

822
00:42:33,200 --> 00:42:36,000
Speaker 4: Right, check Godebailee, right. I mean, man, he could do

823
00:42:36,000 --> 00:42:38,120
Speaker 4: it in thirty seven. He knows the answer. Like we

824
00:42:38,120 --> 00:42:39,080
Speaker 4: could do the census on.

825
00:42:39,040 --> 00:42:40,840
Speaker 2: Monday, we could do it again on Tuesday.

826
00:42:40,960 --> 00:42:42,960
Speaker 4: We can trimble check it on Wednesday. If I tell

827
00:42:43,000 --> 00:42:44,279
Speaker 4: them to do it on Thursday, they tell me to

828
00:42:44,400 --> 00:42:48,200
Speaker 4: f off, right, So I mean think about it. I mean,

829
00:42:48,320 --> 00:42:53,440
Speaker 4: these are unique ideas, but they're just thinking about it

830
00:42:53,480 --> 00:42:57,320
Speaker 4: the right way. And if you think about this government

831
00:42:57,360 --> 00:42:58,399
Speaker 4: the right way.

832
00:42:58,280 --> 00:42:59,040
Speaker 2: What do I think?

833
00:42:59,160 --> 00:43:02,200
Speaker 4: I think the post Office should own the last mile.

834
00:43:03,000 --> 00:43:04,560
Speaker 2: We should go to everybody's house every day.

835
00:43:05,120 --> 00:43:07,600
Speaker 4: But what we shouldn't do is after we collect a package,

836
00:43:07,760 --> 00:43:11,239
Speaker 4: we shouldn't compete with FedEx and Amazon to try to

837
00:43:11,280 --> 00:43:13,640
Speaker 4: process it and ship it to Tennessee where it goes. Right,

838
00:43:13,840 --> 00:43:17,040
Speaker 4: we should do a trade with them. You guys do

839
00:43:17,120 --> 00:43:20,719
Speaker 4: the ship it to Tennessee stuff, and we'll do the

840
00:43:20,920 --> 00:43:23,720
Speaker 4: delivery to the door. And then you have one delivery

841
00:43:23,719 --> 00:43:26,680
Speaker 4: to the door for fed X. Not for big packages

842
00:43:26,719 --> 00:43:28,279
Speaker 4: they have to use their truck, but for stuff that

843
00:43:28,280 --> 00:43:30,719
Speaker 4: that postmaking cover. Why don't we do your stuff? You

844
00:43:30,760 --> 00:43:33,160
Speaker 4: do yours. And by the way, that would save US

845
00:43:34,320 --> 00:43:38,200
Speaker 4: five billion dollars a year, five billion a year.

846
00:43:38,480 --> 00:43:39,279
Speaker 2: So everything I.

847
00:43:39,239 --> 00:43:41,279
Speaker 4: Do, I have five billion a year five billion.

848
00:43:41,280 --> 00:43:41,480
Speaker 2: There.

849
00:43:41,520 --> 00:43:43,480
Speaker 4: You know, I did this Intel deal where we were

850
00:43:43,520 --> 00:43:46,160
Speaker 4: giving them ten billion dollars and I canceled the give

851
00:43:46,160 --> 00:43:49,720
Speaker 4: them ten billion, and instead for that same ten billion,

852
00:43:49,760 --> 00:43:51,239
Speaker 4: we got ten percent equity in the company and now

853
00:43:51,280 --> 00:43:52,200
Speaker 4: it's worth thirty billion.

854
00:43:52,760 --> 00:43:55,640
Speaker 2: You know, So like I made money. It's kind of fun.

855
00:43:56,080 --> 00:43:58,160
Speaker 2: Mister Secretary we're out of time.

856
00:43:58,239 --> 00:44:01,600
Speaker 5: So I just want to close with asking you to

857
00:44:01,960 --> 00:44:05,120
Speaker 5: envision the American economy five years from now, ten years

858
00:44:05,120 --> 00:44:05,680
Speaker 5: from now.

859
00:44:05,840 --> 00:44:07,200
Speaker 2: Where are you bringing us?

860
00:44:07,600 --> 00:44:10,520
Speaker 5: What do you think we look like in the long run.

861
00:44:12,120 --> 00:44:16,279
Speaker 4: In the long run, we solve our choke points. We

862
00:44:16,360 --> 00:44:19,960
Speaker 4: have domestic manufacturing for a whole host of things that

863
00:44:20,000 --> 00:44:24,360
Speaker 4: we should right. We've made deals with our allies for

864
00:44:24,480 --> 00:44:28,680
Speaker 4: low tariffs for what we should not right, and we

865
00:44:28,760 --> 00:44:31,800
Speaker 4: figure out what's best. We have mining deals with everyone

866
00:44:31,800 --> 00:44:35,360
Speaker 4: in the world, but we you know, we enrich uranium

867
00:44:35,480 --> 00:44:36,839
Speaker 4: in America.

868
00:44:36,880 --> 00:44:38,640
Speaker 2: And we are the leading expert.

869
00:44:38,680 --> 00:44:41,440
Speaker 4: Like when I've done trade deals, I always sell at

870
00:44:41,440 --> 00:44:43,080
Speaker 4: the end fifty Boeing planes.

871
00:44:43,800 --> 00:44:46,080
Speaker 2: Yeah. Look at every time, I'm like, come on, buy

872
00:44:46,160 --> 00:44:47,839
Speaker 2: blowing planes. Okay, we'll buy blowing planes.

873
00:44:48,239 --> 00:44:52,200
Speaker 4: So the President got salesman of the universe from Boeing

874
00:44:52,200 --> 00:44:53,720
Speaker 4: because these old a thousand planes.

875
00:44:54,239 --> 00:44:54,520
Speaker 2: Right.

876
00:44:54,680 --> 00:44:56,759
Speaker 4: But so what I want to do is I want

877
00:44:56,800 --> 00:45:00,760
Speaker 4: the person who has my job to sell nuclear as well.

878
00:45:00,880 --> 00:45:03,080
Speaker 4: That we should be the creator of nuclear, that we

879
00:45:03,160 --> 00:45:07,320
Speaker 4: export nuclear, we export, Boeing planes, we export We become

880
00:45:07,880 --> 00:45:13,520
Speaker 4: a manufacturing powerhouse. Because technology can live here. We have

881
00:45:13,560 --> 00:45:16,440
Speaker 4: to build the power which we will do. We will

882
00:45:16,480 --> 00:45:21,040
Speaker 4: have AI that will empower our employees. But the economy

883
00:45:21,080 --> 00:45:24,799
Speaker 4: that is coming is going to work much better for

884
00:45:24,920 --> 00:45:27,839
Speaker 4: America than it's ever going to work for our adversaries,

885
00:45:28,680 --> 00:45:29,520
Speaker 4: much better.

886
00:45:29,400 --> 00:45:31,520
Speaker 2: Because this is our kind of economy.

887
00:45:31,880 --> 00:45:35,080
Speaker 4: Right, It's not a job screwing stuff in, it's a

888
00:45:35,200 --> 00:45:39,640
Speaker 4: job fixing robots. That's a different kind of mentality.

889
00:45:39,719 --> 00:45:39,879
Speaker 2: Right.

890
00:45:39,880 --> 00:45:47,040
Speaker 4: We let our auto manufacturing go to Canada and Mexico,

891
00:45:47,600 --> 00:45:50,160
Speaker 4: to Korea and Japan and to Germany.

892
00:45:51,239 --> 00:45:52,719
Speaker 2: Right. We used to produce.

893
00:45:52,960 --> 00:45:55,760
Speaker 4: Ninety percent of our cars domestically, then seventy five percent

894
00:45:55,760 --> 00:45:58,239
Speaker 4: of our cars domestically. When I walked in it took

895
00:45:58,239 --> 00:46:01,360
Speaker 4: this job. We were down to fifty percent domestic manufacturer cars.

896
00:46:02,080 --> 00:46:05,600
Speaker 4: Our cars should be made here. If Mercedes wants to

897
00:46:05,600 --> 00:46:08,239
Speaker 4: make a car and sell it here, make it here

898
00:46:09,000 --> 00:46:11,959
Speaker 4: and sell it to us and export it from here.

899
00:46:12,320 --> 00:46:13,680
Speaker 2: That model is coming.

900
00:46:14,160 --> 00:46:20,239
Speaker 4: I think America's economy will be twice the size, and

901
00:46:20,360 --> 00:46:23,200
Speaker 4: the separation between us and the rest of the world

902
00:46:23,719 --> 00:46:29,960
Speaker 4: will be gargantuan. Because we are the smartest, most entrepreneurial,

903
00:46:30,239 --> 00:46:32,560
Speaker 4: most innovative people.

904
00:46:33,239 --> 00:46:35,080
Speaker 2: It's who we are when we're born.

905
00:46:35,600 --> 00:46:38,200
Speaker 4: It's the way we go to school, it's the way

906
00:46:38,239 --> 00:46:42,799
Speaker 4: our parents teach us. We are born with that American

907
00:46:42,920 --> 00:46:47,640
Speaker 4: dream right that we could be that guy. We could

908
00:46:47,680 --> 00:46:50,440
Speaker 4: be the president, we could be the tech bro, we

909
00:46:50,520 --> 00:46:53,799
Speaker 4: could be this. We all feel it, our children feel it,

910
00:46:53,840 --> 00:46:55,280
Speaker 4: we drive it into our children.

911
00:46:55,560 --> 00:46:56,520
Speaker 2: You could be anything.

912
00:46:57,800 --> 00:47:01,000
Speaker 4: No other economy does it that way. And so I

913
00:47:01,120 --> 00:47:09,080
Speaker 4: think the President has launched the plane, launched us into

914
00:47:09,080 --> 00:47:12,480
Speaker 4: where we're going. And I think if we stick with

915
00:47:12,560 --> 00:47:16,319
Speaker 4: these policies in this kind of thinking, the US is

916
00:47:16,320 --> 00:47:20,120
Speaker 4: in such a great position. I'm just proud to be

917
00:47:20,160 --> 00:47:22,520
Speaker 4: associated with Donald Trump in this administration.

918
00:47:23,200 --> 00:47:24,839
Speaker 2: Thank you, mister Secretary. This all the time we had.

919
00:47:24,880 --> 00:47:26,279
Speaker 3: I wish we had more, but hopefully we could do

920
00:47:26,280 --> 00:47:26,960
Speaker 3: this again one day.

921
00:47:27,640 --> 00:47:34,200
Speaker 2: Thanks, I'd fun. That was really great. I think last