1 00:00:01,040 --> 00:00:03,480 Speaker 1: I want to start with some breaking news. 2 00:00:03,600 --> 00:00:07,960 Speaker 2: The House Budget Committee has just voted down what Donald 3 00:00:07,960 --> 00:00:11,320 Speaker 2: Trump described as the big Beautiful Bill. 4 00:00:11,560 --> 00:00:14,080 Speaker 1: Now the question is why they are. 5 00:00:13,960 --> 00:00:20,320 Speaker 2: Seeking more quote conservative reforms. The House Budget Committee voted 6 00:00:20,360 --> 00:00:24,240 Speaker 2: down the Budget Reconciliation Bill just after noon on Friday, 7 00:00:24,680 --> 00:00:28,440 Speaker 2: in a temporary roadblock for President Donald Trump's bill that 8 00:00:28,560 --> 00:00:30,400 Speaker 2: he says we need to get it done. 9 00:00:30,920 --> 00:00:32,200 Speaker 1: The defeat of the bill. 10 00:00:31,960 --> 00:00:37,280 Speaker 2: Is another expected, if unnecessary bump and the often messy 11 00:00:37,400 --> 00:00:41,440 Speaker 2: negotiating process of a massive piece of legislation. And this 12 00:00:41,520 --> 00:00:43,720 Speaker 2: is something I want you to understand. I'm not that 13 00:00:43,960 --> 00:00:47,080 Speaker 2: surprised over it. It would have been great to get 14 00:00:47,120 --> 00:00:50,040 Speaker 2: this thing done quickly and just move it through. The 15 00:00:50,159 --> 00:00:52,360 Speaker 2: chance of that happening based on what I was told, 16 00:00:52,440 --> 00:00:56,800 Speaker 2: we're probably about five percent, So this is a speedbump. 17 00:00:56,920 --> 00:00:58,760 Speaker 2: I want to be clear. And the media is going 18 00:00:58,800 --> 00:01:00,840 Speaker 2: to want to dunk on this. I do not believe 19 00:01:00,880 --> 00:01:03,720 Speaker 2: this is going to derail the agenda of Donald Trump 20 00:01:03,880 --> 00:01:07,360 Speaker 2: or the quote big beautiful bill. I just want to 21 00:01:07,360 --> 00:01:11,800 Speaker 2: be clear now. It is not the headline that we wanted, 22 00:01:11,880 --> 00:01:14,360 Speaker 2: all right. This is one that we I think the 23 00:01:14,400 --> 00:01:18,760 Speaker 2: Republicans should have tried to avoid and putting it in context, 24 00:01:18,840 --> 00:01:21,600 Speaker 2: this is one of those moments where the Democrats and 25 00:01:21,640 --> 00:01:24,160 Speaker 2: the media, they're going to dunk on it big. All right, now, 26 00:01:24,280 --> 00:01:26,560 Speaker 2: let me give you the background on this so you understand. 27 00:01:27,640 --> 00:01:31,399 Speaker 2: Conservatives on the committee made it clear before the committee 28 00:01:31,440 --> 00:01:33,560 Speaker 2: markup of the bill that they were against the bill 29 00:01:33,600 --> 00:01:37,400 Speaker 2: in its current form, stating that it felt short of 30 00:01:37,440 --> 00:01:43,120 Speaker 2: fully realizing Donald Trump's transformative agenda. Quote unquote, Speaker Mike 31 00:01:43,200 --> 00:01:46,800 Speaker 2: Johnson chose to go ahead with the scheduled markup of 32 00:01:46,880 --> 00:01:49,640 Speaker 2: this bill. Some thought that was a bad idea. We'll 33 00:01:49,640 --> 00:01:52,520 Speaker 2: see how it plays out. So then fast forward to 34 00:01:52,800 --> 00:01:58,160 Speaker 2: Friday four, Conservatives, along with another Republican who changes vote 35 00:01:58,200 --> 00:02:02,560 Speaker 2: for procedural reason, oppose the bill, which. 36 00:02:02,360 --> 00:02:04,520 Speaker 1: Went down sixteen to twenty one. 37 00:02:05,400 --> 00:02:09,560 Speaker 2: You had Representative from Texas, Chip Roy, you had Ralph 38 00:02:09,680 --> 00:02:11,400 Speaker 2: Norman from South Carolina. 39 00:02:12,280 --> 00:02:14,800 Speaker 1: You had Josh Rattin. 40 00:02:14,680 --> 00:02:17,320 Speaker 2: A Republican from Oklahoma, and you had Andrew Clyde, a 41 00:02:17,400 --> 00:02:20,640 Speaker 2: Republican from South Carolina that all jumped on board to 42 00:02:20,639 --> 00:02:24,520 Speaker 2: say we're going to stop this now. House conservatives requested 43 00:02:24,560 --> 00:02:28,360 Speaker 2: more changes in order to make a bigger, more beautiful bill, 44 00:02:28,639 --> 00:02:31,519 Speaker 2: is the way they described it. Their concerns varied from 45 00:02:31,600 --> 00:02:36,359 Speaker 2: spending and taxes to Second Amendment provisions, but they also 46 00:02:36,480 --> 00:02:39,440 Speaker 2: raised concerns that many of the reforms in the legislation 47 00:02:40,080 --> 00:02:44,240 Speaker 2: were postponed for years and would likely be eliminated in 48 00:02:44,400 --> 00:02:49,079 Speaker 2: future legislation before they could even take effect. Chip Roy 49 00:02:49,200 --> 00:02:52,680 Speaker 2: putting out tweets saying, quote, why there's a problem. The 50 00:02:52,720 --> 00:02:55,799 Speaker 2: House bill front loads tax cuts and spending and then 51 00:02:56,040 --> 00:02:57,919 Speaker 2: backloads the savings. 52 00:02:58,360 --> 00:03:00,200 Speaker 1: And he had a chart that he put. 53 00:03:00,040 --> 00:03:02,280 Speaker 2: It up, basically saying that we wouldn't get the best 54 00:03:02,320 --> 00:03:06,639 Speaker 2: effects of this until twenty thirty and that's not what 55 00:03:06,680 --> 00:03:11,080 Speaker 2: the American people actually voted for. Now, the committee has 56 00:03:11,120 --> 00:03:14,160 Speaker 2: not expected to meet again, according to House Budget Committee 57 00:03:14,240 --> 00:03:15,400 Speaker 2: Chairman Jody R. 58 00:03:15,520 --> 00:03:15,960 Speaker 1: Arrington. 59 00:03:16,080 --> 00:03:19,920 Speaker 2: He's a Republican from Texas who voted to vance the 60 00:03:19,919 --> 00:03:22,480 Speaker 2: bill despite agreeing with the no votes that the bill 61 00:03:22,600 --> 00:03:25,920 Speaker 2: must be improved before final passage on the House floor, 62 00:03:26,400 --> 00:03:30,000 Speaker 2: a sentiment shared by other Republicans also on the committee. 63 00:03:30,400 --> 00:03:33,160 Speaker 2: But the four Conservatives on the House Freedom Caucus one 64 00:03:33,200 --> 00:03:35,600 Speaker 2: of these changes made sooner rather than later, because well, 65 00:03:35,640 --> 00:03:38,960 Speaker 2: they don't trust the rhinos. I understand that, Okay, the 66 00:03:39,040 --> 00:03:42,280 Speaker 2: rhinos they always will screw you at the last moment. 67 00:03:42,440 --> 00:03:44,840 Speaker 2: Especially when you're trying to get a deal done. So 68 00:03:44,960 --> 00:03:46,960 Speaker 2: I get them saying we want it on the front end. 69 00:03:47,000 --> 00:03:48,800 Speaker 2: I understand the thinking here and I want you to 70 00:03:48,880 --> 00:03:52,760 Speaker 2: understand that as well. They said, despite voting no, they 71 00:03:52,800 --> 00:03:55,760 Speaker 2: remain willing to work towards a quote compromise, saying this, 72 00:03:56,400 --> 00:03:59,840 Speaker 2: we are continuing to negotiate. That is what a spokesman 73 00:03:59,880 --> 00:04:02,760 Speaker 2: for the House Freedom Caucus said. 74 00:04:03,200 --> 00:04:05,120 Speaker 1: We are not leaving right now. 75 00:04:05,560 --> 00:04:08,480 Speaker 2: We have been making progress and are continuing our work 76 00:04:08,560 --> 00:04:12,320 Speaker 2: on the legislation. The House Freedom canc is putting out 77 00:04:12,360 --> 00:04:15,560 Speaker 2: this statement on Twitter saying, and I'm going to quote 78 00:04:15,560 --> 00:04:18,800 Speaker 2: it exactly so you understand their viewpoints ad quote. Representatives 79 00:04:18,880 --> 00:04:21,960 Speaker 2: Roy Norman, Rachel Claude and others continue to work in 80 00:04:22,040 --> 00:04:25,520 Speaker 2: good faith to enact President's big beautiful bill quote unquote. 81 00:04:25,880 --> 00:04:28,000 Speaker 2: We were making progress before the vote and the Budget 82 00:04:28,000 --> 00:04:32,800 Speaker 2: Committee and will continue negotiations to further improve the reconciliation package. 83 00:04:33,160 --> 00:04:35,200 Speaker 2: We are not going anywhere, and we will continue to 84 00:04:35,240 --> 00:04:39,120 Speaker 2: work through the weekend, meaning obviously right now. 85 00:04:39,560 --> 00:04:42,440 Speaker 1: So when you look at this and what we under 86 00:04:42,600 --> 00:04:42,920 Speaker 1: what we. 87 00:04:42,920 --> 00:04:45,560 Speaker 2: Understand now is look, I think Trump's frustrated by this, 88 00:04:46,120 --> 00:04:50,000 Speaker 2: but this will overcome, and they will figure it out 89 00:04:50,000 --> 00:04:52,600 Speaker 2: and they will do it now. Trump posted on true 90 00:04:52,680 --> 00:04:58,120 Speaker 2: Social Friday morning, saying this quote, Republicans must unite behind. 91 00:04:57,839 --> 00:05:00,400 Speaker 1: The one big, beautiful bill. 92 00:05:00,680 --> 00:05:04,359 Speaker 2: Not only does it cut taxes for all Americans, but 93 00:05:04,480 --> 00:05:08,240 Speaker 2: it will kick millions of illegal aliens off of Medicaid 94 00:05:08,640 --> 00:05:11,040 Speaker 2: to protect it for those who are the ones in 95 00:05:11,080 --> 00:05:14,480 Speaker 2: real need. The country will suffer greatly without this legislation, 96 00:05:15,040 --> 00:05:18,880 Speaker 2: with their taxes going up sixty five percent. It will 97 00:05:18,960 --> 00:05:22,320 Speaker 2: be blamed on Democrats, but that doesn't help our voters. 98 00:05:22,800 --> 00:05:26,400 Speaker 2: We don't need grand standards in the Republican Party. Stop 99 00:05:26,480 --> 00:05:28,840 Speaker 2: talking and get it done. It's time to fix the 100 00:05:28,880 --> 00:05:31,160 Speaker 2: mess that Biden the Democrats gave us. 101 00:05:31,560 --> 00:05:33,720 Speaker 1: So that was what he said on true Social. Now. 102 00:05:33,760 --> 00:05:35,560 Speaker 1: Trump's urgency is understandable. 103 00:05:36,000 --> 00:05:38,760 Speaker 2: His team has continued to work with members of Congress 104 00:05:38,839 --> 00:05:40,880 Speaker 2: as the process moves forward, is what the White House 105 00:05:40,920 --> 00:05:44,920 Speaker 2: said Friday afternoon. The ultimate ambitious goal of sending a 106 00:05:44,960 --> 00:05:49,039 Speaker 2: bill to Trump's desk by July fourth remains achievable, is 107 00:05:49,080 --> 00:05:51,880 Speaker 2: what the White House is saying as well now. Before 108 00:05:52,080 --> 00:05:56,520 Speaker 2: Friday's vote, Mike Lee told Breitbart News exclusively that the 109 00:05:56,640 --> 00:06:00,880 Speaker 2: legislative process isn't easy, but that report Publicans working to 110 00:06:00,920 --> 00:06:04,279 Speaker 2: make further changes to the bill are doing so to 111 00:06:04,520 --> 00:06:08,240 Speaker 2: ensure it advances what Trump is laid out and what 112 00:06:08,400 --> 00:06:11,960 Speaker 2: needs to be done that both he and those who 113 00:06:12,000 --> 00:06:15,240 Speaker 2: elected him have quote demanded. So you can understand the 114 00:06:15,279 --> 00:06:17,520 Speaker 2: kind of more of the background on this. There are 115 00:06:17,520 --> 00:06:19,960 Speaker 2: some things that we need to address as we advance 116 00:06:20,120 --> 00:06:23,839 Speaker 2: legislation in order to advance President Donald Trump's agenda in 117 00:06:23,920 --> 00:06:26,840 Speaker 2: order to advance what he has laid out as what 118 00:06:27,000 --> 00:06:30,040 Speaker 2: needs to be done that both he and those who 119 00:06:30,080 --> 00:06:31,720 Speaker 2: elected him have demanded. 120 00:06:31,839 --> 00:06:33,359 Speaker 1: Is what Lee also went on to say. 121 00:06:33,839 --> 00:06:36,640 Speaker 2: Now, despite this setback, all right, I want to be 122 00:06:36,720 --> 00:06:39,960 Speaker 2: clear before the media punks you and lies to you. 123 00:06:41,640 --> 00:06:44,280 Speaker 2: I have no doubt the House will eventually pass this 124 00:06:44,360 --> 00:06:46,440 Speaker 2: bill in a form that will probably better than what 125 00:06:46,520 --> 00:06:49,719 Speaker 2: it is today, all right. I have no doubt that 126 00:06:49,800 --> 00:06:54,839 Speaker 2: negotiations are likely to continue throughout the weekend based on 127 00:06:54,880 --> 00:06:57,599 Speaker 2: the members that I've talked to. Now, once the Budget 128 00:06:57,600 --> 00:07:01,240 Speaker 2: Committee passes the bill, then this big, beautiful bill has 129 00:07:01,240 --> 00:07:04,359 Speaker 2: another big hurdle. It has the Senate, okay, and the 130 00:07:04,400 --> 00:07:08,240 Speaker 2: Senate must consider it where further changes are likely to 131 00:07:08,240 --> 00:07:11,160 Speaker 2: be made, which would necessitate House passage of the Senate 132 00:07:11,240 --> 00:07:16,480 Speaker 2: amended bill or more likely a conference committee for further negotiations. 133 00:07:16,600 --> 00:07:20,080 Speaker 1: So again, the President wants this by July fourth. 134 00:07:20,560 --> 00:07:23,760 Speaker 2: He wants to have a big moment July fourth talking 135 00:07:23,760 --> 00:07:25,840 Speaker 2: about what he has done for the American people. And 136 00:07:25,880 --> 00:07:29,240 Speaker 2: that's really important. That's a good thing. It's something that 137 00:07:29,320 --> 00:07:31,680 Speaker 2: the president has on his calendar. And look, I like 138 00:07:31,800 --> 00:07:35,240 Speaker 2: having a timeline of getting things done. I think it's 139 00:07:35,280 --> 00:07:40,120 Speaker 2: important that we get things done in a timely manner. 140 00:07:40,680 --> 00:07:42,200 Speaker 1: And if we don't get things done a. 141 00:07:42,240 --> 00:07:44,720 Speaker 2: Timely manner, then what you end up having is things 142 00:07:44,720 --> 00:07:48,000 Speaker 2: fall through the cracks, right, and we don't get things 143 00:07:48,000 --> 00:07:49,680 Speaker 2: done the way we want them done, and then we 144 00:07:49,800 --> 00:07:52,200 Speaker 2: stall out and then before we know, it's the midterms 145 00:07:52,440 --> 00:07:53,640 Speaker 2: and we got nothing done. 146 00:07:53,800 --> 00:07:56,560 Speaker 1: That is the biggest concern that I have here. 147 00:07:56,640 --> 00:07:59,760 Speaker 2: Like, that's the biggest problem that I have, is that 148 00:07:59,800 --> 00:08:02,720 Speaker 2: we can end up in that scenario, that situation. So 149 00:08:03,360 --> 00:08:06,200 Speaker 2: to recap for you, I want to be clear, I 150 00:08:06,240 --> 00:08:09,440 Speaker 2: don't think this is doom and gloom. I think more 151 00:08:09,480 --> 00:08:11,280 Speaker 2: than like, we were probably going to get a better 152 00:08:11,400 --> 00:08:16,640 Speaker 2: deal done than we would have before. That's a huge bonus. 153 00:08:16,680 --> 00:08:19,840 Speaker 2: That's something that we should all be very excited about. 154 00:08:20,880 --> 00:08:22,800 Speaker 1: So I want to be clear. That's number one. 155 00:08:23,160 --> 00:08:25,760 Speaker 2: Number two, I think the President putting pressure on them 156 00:08:25,800 --> 00:08:28,920 Speaker 2: to work through the weekend is a smart political move. 157 00:08:29,640 --> 00:08:32,920 Speaker 2: It is a move that he understands. I don't want 158 00:08:32,960 --> 00:08:35,559 Speaker 2: you going home. I don't want this thing to stall. 159 00:08:35,920 --> 00:08:38,240 Speaker 2: I don't want this thing to linger. I want to 160 00:08:38,280 --> 00:08:40,800 Speaker 2: get it done. So that's part two that I think 161 00:08:40,840 --> 00:08:44,720 Speaker 2: also is extremely important here. And finally, let me just 162 00:08:44,800 --> 00:08:47,959 Speaker 2: put it this way. The idea that this big, beautiful 163 00:08:48,000 --> 00:08:50,079 Speaker 2: bill was just going to run through Congress, I think 164 00:08:50,200 --> 00:08:52,520 Speaker 2: was a great idea in theory. 165 00:08:52,760 --> 00:08:54,120 Speaker 1: I don't believe it was. 166 00:08:54,120 --> 00:08:58,160 Speaker 2: Ever going to be reality, and I think that's what 167 00:08:58,200 --> 00:09:01,080 Speaker 2: we're witnessing now. And look, the pent hates it when 168 00:09:01,120 --> 00:09:03,120 Speaker 2: they drag their feet. There's a lot of people that 169 00:09:03,160 --> 00:09:05,240 Speaker 2: are doing a lot of things on this bill, and 170 00:09:05,280 --> 00:09:06,920 Speaker 2: there are a lot of Rhinos that are gonna want 171 00:09:06,920 --> 00:09:09,040 Speaker 2: things in this bill, and it's gonna get complicated. 172 00:09:09,440 --> 00:09:11,720 Speaker 1: I don't think it's going to be the last hurdle. 173 00:09:12,240 --> 00:09:14,320 Speaker 2: But I also do think that the American people have 174 00:09:14,360 --> 00:09:17,440 Speaker 2: a mandate on Congress to actually get it done. And 175 00:09:17,520 --> 00:09:19,720 Speaker 2: I do think that's part of the important part here 176 00:09:19,800 --> 00:09:22,600 Speaker 2: is that. So I'm going to keep you updated on it. 177 00:09:22,920 --> 00:09:25,840 Speaker 2: We're gonna watch it throughout the weekend for you that 178 00:09:25,960 --> 00:09:29,040 Speaker 2: I can promise you. We have got a lot that 179 00:09:29,080 --> 00:09:31,520 Speaker 2: has happened at the White House. In fact, and just 180 00:09:31,600 --> 00:09:35,280 Speaker 2: the last week, President Trump has secured a UK trade deal, 181 00:09:35,320 --> 00:09:38,280 Speaker 2: which is already old news. We now have this China 182 00:09:38,400 --> 00:09:41,280 Speaker 2: trade deal. We have the release of an American hostage. 183 00:09:41,640 --> 00:09:45,040 Speaker 2: We have the ceasefire with India and Pakistan, and a 184 00:09:45,080 --> 00:09:48,160 Speaker 2: ceasefire with the Hoho Thies. And where's the media obsessing 185 00:09:48,200 --> 00:09:51,160 Speaker 2: over well, saying that Donald Trump's deal with China may 186 00:09:51,160 --> 00:09:53,760 Speaker 2: not actually work out. And that's what you should really 187 00:09:53,800 --> 00:09:57,439 Speaker 2: be focusing on. White House press singer Terry coming out 188 00:09:57,480 --> 00:10:00,400 Speaker 2: on Fox and Friends Monday morning saying the state for 189 00:10:00,480 --> 00:10:01,959 Speaker 2: all of this, saying this. 190 00:10:02,240 --> 00:10:04,680 Speaker 3: Told you the next one hundred days would consist of 191 00:10:04,720 --> 00:10:07,200 Speaker 3: peace deals in trade deals, and that's exactly what we 192 00:10:07,320 --> 00:10:10,160 Speaker 3: have seen. The President announced last week the big trade 193 00:10:10,200 --> 00:10:11,960 Speaker 3: deal with the UK, as you mentioned. Now we have 194 00:10:12,000 --> 00:10:15,520 Speaker 3: a first deal with China. Just yesterday, the President announced 195 00:10:15,520 --> 00:10:19,760 Speaker 3: the release of the last remaining American hostage in Gaza, Eden, Alexander, 196 00:10:19,760 --> 00:10:23,200 Speaker 3: who will soon be united with his loving family, God 197 00:10:23,240 --> 00:10:26,959 Speaker 3: bless him. That's thanks to President Trump. We also negotiated 198 00:10:26,960 --> 00:10:30,640 Speaker 3: a ceasefire with the Hoothies, and President Trump was instrumental 199 00:10:30,720 --> 00:10:33,960 Speaker 3: in negotiating a ceasefire with India and Pakistan. This is 200 00:10:34,040 --> 00:10:37,000 Speaker 3: all in the last week. President Trump and his team 201 00:10:37,080 --> 00:10:40,160 Speaker 3: are working incredibly hard on behalf of the country and 202 00:10:40,320 --> 00:10:43,080 Speaker 3: the world to secure peace deals, in trade deals, and 203 00:10:43,160 --> 00:10:45,640 Speaker 3: don't forget, we have a tax deal coming too. The 204 00:10:45,679 --> 00:10:48,680 Speaker 3: administration is working with Capitol Hills to sign the largest 205 00:10:48,720 --> 00:10:50,720 Speaker 3: tax cuts in American history. 206 00:10:50,800 --> 00:10:54,920 Speaker 2: Right now, you listen to this White House and time 207 00:10:54,960 --> 00:10:59,040 Speaker 2: and time again, this administration is telling you what they're 208 00:10:59,040 --> 00:11:02,719 Speaker 2: going to do, says it's impossible, it cannot happen, and 209 00:11:02,760 --> 00:11:05,160 Speaker 2: then they pay off on it and they do it. 210 00:11:05,720 --> 00:11:08,079 Speaker 2: You look at the president right now on the issue 211 00:11:08,080 --> 00:11:11,640 Speaker 2: of China. Just this week, I was on CNN and 212 00:11:11,760 --> 00:11:14,920 Speaker 2: one of the people from the view in Navarro most 213 00:11:14,960 --> 00:11:18,239 Speaker 2: of views she's on CNN, she's like, and another expert 214 00:11:19,160 --> 00:11:21,880 Speaker 2: quote unquote expert when it comes to the economy we're on. 215 00:11:21,920 --> 00:11:23,719 Speaker 2: They're like, well, there's a very good chance these trade 216 00:11:23,760 --> 00:11:25,440 Speaker 2: deals won't even get done this year. And I'm like, 217 00:11:25,480 --> 00:11:28,320 Speaker 2: that's not true, that's absolutely not true. And I fought 218 00:11:28,360 --> 00:11:30,280 Speaker 2: back hard because they're just lying and they're like, well, 219 00:11:30,320 --> 00:11:33,480 Speaker 2: the American people can't handle these trade deals and there's 220 00:11:33,520 --> 00:11:35,480 Speaker 2: gonna be empty shelves because this is going. 221 00:11:35,440 --> 00:11:36,760 Speaker 1: To drag on into next year. 222 00:11:37,080 --> 00:11:39,720 Speaker 2: Well, what happened with China here is part of what 223 00:11:39,760 --> 00:11:40,920 Speaker 2: the White House said about that. 224 00:11:41,480 --> 00:11:44,360 Speaker 4: First off, your reaction and what could you tell us 225 00:11:44,400 --> 00:11:47,480 Speaker 4: about the China deal that has tariffs dropping from one 226 00:11:47,559 --> 00:11:50,520 Speaker 4: hundred and forty five to one five respectively to. 227 00:11:50,600 --> 00:11:51,680 Speaker 5: Thirty and ten. 228 00:11:53,000 --> 00:11:56,400 Speaker 3: This is an extraordinary first step in the right direction, 229 00:11:56,840 --> 00:11:59,800 Speaker 3: and thanks to the strength of President Seump, Secretary Besant, 230 00:12:00,160 --> 00:12:04,160 Speaker 3: Ambassador Greer, we're able to cut this initial deal with China. 231 00:12:04,440 --> 00:12:07,320 Speaker 3: China agreed to reduce their tariffs on the United States 232 00:12:07,559 --> 00:12:10,720 Speaker 3: by one hundred and fifteen percent. They also agreed to 233 00:12:10,760 --> 00:12:15,240 Speaker 3: continue having discussions about opening Chinese markets to American made 234 00:12:15,280 --> 00:12:18,679 Speaker 3: products and goods. And they also agreed to continue seriously 235 00:12:18,720 --> 00:12:22,640 Speaker 3: discussing the grave impact that Chinese produced fetanol is having 236 00:12:23,000 --> 00:12:25,240 Speaker 3: right here in the United States and our people. So 237 00:12:25,600 --> 00:12:28,000 Speaker 3: this is a great first step for the American public, 238 00:12:28,040 --> 00:12:30,840 Speaker 3: and Secretary Best and Ambassador Greer, and of course President 239 00:12:30,840 --> 00:12:34,360 Speaker 3: Trump will continue negotiations with China so we can hopefully 240 00:12:34,640 --> 00:12:38,320 Speaker 3: inevitably get to a fair and comprehensive, big trade deal. 241 00:12:38,800 --> 00:12:41,240 Speaker 2: So yet again what the media and the Laft set 242 00:12:41,320 --> 00:12:45,080 Speaker 2: was impossible has become a reality. President Trump also on 243 00:12:45,160 --> 00:12:47,640 Speaker 2: Monday saying this about China and the. 244 00:12:47,559 --> 00:12:51,000 Speaker 4: Deal, and they've agreed to open China, fully open China. 245 00:12:51,679 --> 00:12:54,440 Speaker 4: And I think it's going to be fantastic for China. 246 00:12:54,480 --> 00:12:56,680 Speaker 4: I think it's going to be fantastic for US, and 247 00:12:56,720 --> 00:12:57,600 Speaker 4: I think it's going to be. 248 00:12:57,520 --> 00:12:59,640 Speaker 5: Great for unification and peace. 249 00:13:00,400 --> 00:13:03,640 Speaker 4: China will also suspend and remove all of its non 250 00:13:03,720 --> 00:13:09,720 Speaker 4: monetary barriers. They've agreed to do that. Well, they're very numerous. 251 00:13:09,720 --> 00:13:11,839 Speaker 4: But again, to me, the biggest thing that came out 252 00:13:11,880 --> 00:13:12,640 Speaker 4: of that meeting. 253 00:13:12,400 --> 00:13:13,040 Speaker 5: Is they've agreed. 254 00:13:13,080 --> 00:13:14,840 Speaker 4: Now we have to get it papered, but they've agreed 255 00:13:14,840 --> 00:13:15,800 Speaker 4: to open up China. 256 00:13:16,040 --> 00:13:17,520 Speaker 5: Its going to be great for everybody. 257 00:13:18,120 --> 00:13:20,800 Speaker 2: And look, this is the President United States of America 258 00:13:20,920 --> 00:13:25,720 Speaker 2: having dialogue and conversations and sending an envoy to Geneva, 259 00:13:25,760 --> 00:13:28,560 Speaker 2: where he said, we've got to let them understand. They've 260 00:13:28,559 --> 00:13:30,839 Speaker 2: been taking avantage of us. They know that we're not 261 00:13:30,880 --> 00:13:33,080 Speaker 2: going to let them keep doing it. They know that, 262 00:13:33,600 --> 00:13:36,800 Speaker 2: so let's do a better deal for both nations. And so, 263 00:13:37,080 --> 00:13:39,880 Speaker 2: as you described what happened Geneva. Here's what he said 264 00:13:39,880 --> 00:13:40,840 Speaker 2: with more details. 265 00:13:42,360 --> 00:13:46,880 Speaker 4: In addition, yesterday we achieved a total reset with China 266 00:13:47,120 --> 00:13:51,920 Speaker 4: after productive talks in Geneva. Both sides now agreed to 267 00:13:52,000 --> 00:13:56,480 Speaker 4: reduce the tariffs and post after April twod to ten 268 00:13:56,520 --> 00:13:59,920 Speaker 4: percent for ninety days, as negotiators continue in the larger 269 00:14:00,080 --> 00:14:01,240 Speaker 4: structural issues. 270 00:14:02,320 --> 00:14:05,600 Speaker 5: And I want to tell you that a couple of things. 271 00:14:05,840 --> 00:14:08,000 Speaker 4: First of all, that doesn't include the tariffs that are 272 00:14:08,200 --> 00:14:11,600 Speaker 4: already on that are our tariffs. And it doesn't include 273 00:14:11,600 --> 00:14:16,959 Speaker 4: tariffs on cars, steel, aluminum, things such as that, or 274 00:14:17,080 --> 00:14:19,240 Speaker 4: tariffs that may be imposed. 275 00:14:18,760 --> 00:14:20,320 Speaker 5: On pharmaceuticals, because we. 276 00:14:20,320 --> 00:14:23,720 Speaker 4: Want to bring the pharmaceutical businesses back to the United 277 00:14:23,760 --> 00:14:26,240 Speaker 4: States and they're already starting to come back now based 278 00:14:26,280 --> 00:14:26,920 Speaker 4: on tariffs. 279 00:14:28,320 --> 00:14:30,840 Speaker 2: So let me walk you through where we were and 280 00:14:30,880 --> 00:14:34,120 Speaker 2: where we are now, because if you look at this timeline, 281 00:14:34,480 --> 00:14:37,120 Speaker 2: it's one that you need to understand not only how 282 00:14:37,200 --> 00:14:41,160 Speaker 2: quickly this happened, but also what the art of the 283 00:14:41,160 --> 00:14:43,200 Speaker 2: deal look like. I'm going to take you back to 284 00:14:43,280 --> 00:14:47,200 Speaker 2: Phase one of the trade agreement, signed January the fifteenth. 285 00:14:46,720 --> 00:14:47,480 Speaker 1: Of twenty twenty. 286 00:14:47,560 --> 00:14:50,520 Speaker 2: All right, Phase one the agreement back then aimed to 287 00:14:50,560 --> 00:14:53,920 Speaker 2: ease trade tensions between the US and China, that it escalated. 288 00:14:53,920 --> 00:14:58,320 Speaker 2: They claim since twenty eighteen, China commitments were to increase 289 00:14:58,360 --> 00:15:00,480 Speaker 2: the purchase of US goods and serve This is by 290 00:15:00,520 --> 00:15:04,000 Speaker 2: two hundred billion over twenty twenty twenty twenty one compared 291 00:15:04,040 --> 00:15:06,040 Speaker 2: to quote twenty seventeen levels. 292 00:15:06,080 --> 00:15:07,400 Speaker 1: Guess what happened. They didn't do that. 293 00:15:07,840 --> 00:15:10,920 Speaker 2: They also claimed they were going to enhance intellectual property protections. 294 00:15:10,920 --> 00:15:11,640 Speaker 1: They didn't do it. 295 00:15:12,000 --> 00:15:15,000 Speaker 2: They said they were going to eliminate force technology transfers, 296 00:15:15,080 --> 00:15:17,280 Speaker 2: they lied, they didn't do it. They said they were 297 00:15:17,280 --> 00:15:19,800 Speaker 2: going to reframe from competitive currency devaluation. 298 00:15:20,200 --> 00:15:20,760 Speaker 1: They lied. 299 00:15:20,840 --> 00:15:25,040 Speaker 2: They are currency they do currency manipulation all the time. 300 00:15:25,160 --> 00:15:25,880 Speaker 1: They didn't do it. 301 00:15:25,960 --> 00:15:29,000 Speaker 2: Now again, I go back to their lies with the 302 00:15:29,040 --> 00:15:32,520 Speaker 2: Obama Biden regime and the Biden Harrish regime. 303 00:15:32,880 --> 00:15:33,600 Speaker 1: They said they were going. 304 00:15:33,560 --> 00:15:36,640 Speaker 2: To improve access for US financial services firms. All of 305 00:15:36,680 --> 00:15:39,800 Speaker 2: that was a lie. None of it worked. So you 306 00:15:39,920 --> 00:15:42,560 Speaker 2: now look and you move forward from there. Right, they 307 00:15:42,560 --> 00:15:44,440 Speaker 2: were lying. They're taking advantage of us. They have tars 308 00:15:44,520 --> 00:15:46,040 Speaker 2: on our stuff. They don't look our stuff going to 309 00:15:46,080 --> 00:15:49,200 Speaker 2: their country. You move forward to twenty twenty five May 310 00:15:49,240 --> 00:15:52,960 Speaker 2: the twelve, and here's what we now know there was 311 00:15:53,000 --> 00:15:55,960 Speaker 2: this trade tension. They took advantage of us. The President 312 00:15:56,000 --> 00:15:59,800 Speaker 2: said no more, and he said we're done. We're gonna 313 00:16:00,640 --> 00:16:04,440 Speaker 2: basically put imports to one hundred and forty five percent. 314 00:16:04,920 --> 00:16:07,960 Speaker 2: You now see where we are today on the twelfth, 315 00:16:08,280 --> 00:16:10,760 Speaker 2: and the US tariffs on Chinese imports are gone from 316 00:16:10,760 --> 00:16:13,680 Speaker 2: one hundred and forty five percent to down to thirty percent. 317 00:16:14,160 --> 00:16:16,560 Speaker 2: Chinese tariffs on US goods have been reduced from one 318 00:16:16,680 --> 00:16:20,240 Speaker 2: hundred and twenty five percent to ten percent, and the 319 00:16:20,320 --> 00:16:23,360 Speaker 2: reductions are set for ninety day periods, during which they 320 00:16:23,400 --> 00:16:28,840 Speaker 2: say further negotiations will continue. Global stock markets what do 321 00:16:28,880 --> 00:16:30,840 Speaker 2: they do? They didn't listen to media or the left 322 00:16:30,880 --> 00:16:35,080 Speaker 2: or the Democrats. They surge with significant games and major indexes. 323 00:16:36,000 --> 00:16:40,720 Speaker 2: The US dollar also strengthened, and commodity price including crude oil, 324 00:16:40,840 --> 00:16:44,440 Speaker 2: rows significantly. While the agreement is seen as a quote 325 00:16:44,520 --> 00:16:49,720 Speaker 2: positive step, experts quote caution it may be temporary fixed 326 00:16:49,760 --> 00:16:53,680 Speaker 2: without addressing underlying issues. That's the economic times. Again, you 327 00:16:53,760 --> 00:16:56,720 Speaker 2: cannot trust the media and how they're doing this. So 328 00:16:56,840 --> 00:17:00,520 Speaker 2: what is the takeaway from this? The takeaway is pretty simple. 329 00:17:01,080 --> 00:17:04,800 Speaker 2: US China trade the relations are seeing a significant development 330 00:17:04,920 --> 00:17:08,760 Speaker 2: in favor of the US. China needs America more than 331 00:17:09,400 --> 00:17:12,560 Speaker 2: we need China, is what they are now signaling. They 332 00:17:12,560 --> 00:17:15,800 Speaker 2: were going to have major economic problems in China. That's 333 00:17:15,840 --> 00:17:18,080 Speaker 2: the reason why they decide to come forward and do 334 00:17:18,560 --> 00:17:22,040 Speaker 2: this deal now. And look, if you listen to what 335 00:17:22,320 --> 00:17:26,919 Speaker 2: those around the president said about this deal, President Trump 336 00:17:27,040 --> 00:17:32,600 Speaker 2: outlining a vision they said for rebranding and rebalancing global trade. 337 00:17:33,000 --> 00:17:35,000 Speaker 2: I want you to hear what Scotts said had to say. 338 00:17:35,040 --> 00:17:35,639 Speaker 1: Take a listen. 339 00:17:36,000 --> 00:17:40,040 Speaker 6: This administration is running full speed to make sure that 340 00:17:40,080 --> 00:17:44,840 Speaker 6: what we saw during COVID never happens again. So it's 341 00:17:44,880 --> 00:17:49,879 Speaker 6: a combination. It can be terrorists, but again it is 342 00:17:49,920 --> 00:17:54,080 Speaker 6: the administration moving as quickly as possible to make sure 343 00:17:54,200 --> 00:17:57,600 Speaker 6: that we are self sufficient in the strategic industries. 344 00:17:57,840 --> 00:18:01,560 Speaker 7: I think that's completely understandable from the United States side. 345 00:18:01,720 --> 00:18:03,679 Speaker 7: And I want to miss the secretary whether the Chinese 346 00:18:03,760 --> 00:18:06,440 Speaker 7: understood that. Did you get the sense they do understand 347 00:18:06,440 --> 00:18:09,000 Speaker 7: that will be the road forward for the United States. 348 00:18:11,800 --> 00:18:15,040 Speaker 6: Well, I think they understand that, and I think they 349 00:18:15,119 --> 00:18:19,640 Speaker 6: understand that we are focused on fair trade, that this 350 00:18:19,960 --> 00:18:25,480 Speaker 6: gigantic deficit that we have with them, that it didn't 351 00:18:25,520 --> 00:18:28,320 Speaker 6: happen last year. It didn't happen there before. It's happened 352 00:18:28,359 --> 00:18:32,720 Speaker 6: over decades, and that this happened, hal excuse me, has 353 00:18:32,760 --> 00:18:37,960 Speaker 6: to be remedied. The China shock gutted our manufacturing sector, 354 00:18:38,119 --> 00:18:40,919 Speaker 6: and we want to bring that back on the other side. 355 00:18:41,280 --> 00:18:41,880 Speaker 5: Party Chair. 356 00:18:42,520 --> 00:18:45,920 Speaker 6: She has said that he would like to increase consumption, 357 00:18:46,480 --> 00:18:52,000 Speaker 6: but to date the Chinese have just increased manufacturing. So 358 00:18:52,080 --> 00:18:55,359 Speaker 6: we would like to see them increase consumption. We would 359 00:18:55,400 --> 00:18:58,440 Speaker 6: like to see them open their market to American products. 360 00:18:58,480 --> 00:19:03,160 Speaker 6: So there are two ways to rebalance. One is fewer 361 00:19:03,840 --> 00:19:07,640 Speaker 6: Chinese goods in the US market. The other is more 362 00:19:07,680 --> 00:19:11,239 Speaker 6: American goods in the Chinese market. And my guess is 363 00:19:11,640 --> 00:19:14,040 Speaker 6: that the answer is somewhere in between. 364 00:19:15,160 --> 00:19:18,520 Speaker 2: So you listen to what the President outlined a vision 365 00:19:18,720 --> 00:19:22,680 Speaker 2: for a rebalance, and we're getting it this ninety days 366 00:19:22,720 --> 00:19:26,000 Speaker 2: to move forward with lowering these tariffs on each country 367 00:19:26,359 --> 00:19:29,920 Speaker 2: and China moving several steps closer to achieving a major 368 00:19:30,200 --> 00:19:36,320 Speaker 2: renegotiation deal. Everyone said this was impossible, and it's happening. 369 00:19:38,000 --> 00:19:42,920 Speaker 2: I mentioned earlier that China ignored and broke virtually everything 370 00:19:43,440 --> 00:19:45,880 Speaker 2: from twenty twenty to twenty twenty four that we had 371 00:19:45,920 --> 00:19:49,479 Speaker 2: had in agreements before them, currency, manipulation. Laugh in our 372 00:19:49,520 --> 00:19:53,080 Speaker 2: face is a great example of that. Second Trader Secretary 373 00:19:53,160 --> 00:19:56,520 Speaker 2: Bassett also said this about China and why they were 374 00:19:56,520 --> 00:19:59,199 Speaker 2: able to get away with ignoring the trade agreement that 375 00:19:59,280 --> 00:20:02,200 Speaker 2: was set up by Trump in twenty sixteen through twenty twenty, 376 00:20:02,600 --> 00:20:06,280 Speaker 2: that Joe Biden inherited that they just they didn't care 377 00:20:06,359 --> 00:20:07,840 Speaker 2: because they knew Joe Biden was weak. 378 00:20:07,880 --> 00:20:08,520 Speaker 1: They owned him. 379 00:20:08,640 --> 00:20:12,440 Speaker 2: This goes back to the corruption with the Biden crime family. 380 00:20:12,880 --> 00:20:17,679 Speaker 2: China was paying off the President's family clearly, and the 381 00:20:17,760 --> 00:20:19,320 Speaker 2: ten percent for the big guy. 382 00:20:19,760 --> 00:20:22,200 Speaker 1: They knew they didn't have to play by the rules. 383 00:20:22,480 --> 00:20:24,920 Speaker 6: What has to happen is it has to be fair 384 00:20:24,960 --> 00:20:29,399 Speaker 6: for the American people. But in January twenty twenty, President 385 00:20:29,480 --> 00:20:31,080 Speaker 6: Trump produced a template. 386 00:20:31,280 --> 00:20:33,840 Speaker 1: We had an excellent. 387 00:20:33,520 --> 00:20:39,600 Speaker 6: Trade agreement with China, and the Biden administration chose. 388 00:20:39,480 --> 00:20:40,399 Speaker 5: Not to enforce it. 389 00:20:41,200 --> 00:20:45,399 Speaker 6: The Chinese delegation basically told us that once President Biden 390 00:20:45,480 --> 00:20:50,280 Speaker 6: came into office, they just ignored their obligations. So we 391 00:20:50,359 --> 00:20:53,960 Speaker 6: all already have a large framework. The other thing to 392 00:20:54,000 --> 00:20:58,200 Speaker 6: remember here, Jonathan, is that this is a pause down 393 00:20:58,240 --> 00:21:02,919 Speaker 6: to ten percent. The April second level for China is 394 00:21:03,560 --> 00:21:08,720 Speaker 6: thirty four percent, so we will be working to see 395 00:21:08,800 --> 00:21:14,560 Speaker 6: where their final reciprocal number ends up. And the negotiations 396 00:21:14,600 --> 00:21:20,320 Speaker 6: are a combination of tariffs, non tariff, trade barriers, currency manipulation, 397 00:21:20,680 --> 00:21:23,840 Speaker 6: and subsidies of labor and capital. 398 00:21:25,280 --> 00:21:28,719 Speaker 2: So this is all part of the Grand Plan. Trump 399 00:21:28,760 --> 00:21:31,240 Speaker 2: has a China trade deal. They said it couldn't happen. 400 00:21:31,600 --> 00:21:35,280 Speaker 2: Trump is lowering prescription drug prices. That's another thing that 401 00:21:35,320 --> 00:21:37,760 Speaker 2: he did as well. So let's move to that because 402 00:21:37,800 --> 00:21:40,280 Speaker 2: that's another big part of this story right now that 403 00:21:40,320 --> 00:21:43,959 Speaker 2: you need to understand. The President coming out making it 404 00:21:44,280 --> 00:21:49,240 Speaker 2: very cleared that it's time for us to fight big pharma, 405 00:21:49,280 --> 00:21:52,760 Speaker 2: as he put it, fight them and make sure that 406 00:21:52,880 --> 00:21:56,240 Speaker 2: America is no longer taking advantage of. Same thing with 407 00:21:56,280 --> 00:21:58,320 Speaker 2: the what we just talked about with China, but now 408 00:21:58,359 --> 00:22:02,680 Speaker 2: this applies to to us and to what we're dealing 409 00:22:02,720 --> 00:22:08,679 Speaker 2: with with prescription drug prices that are clearly out of control. 410 00:22:09,160 --> 00:22:12,720 Speaker 2: Take a listen to the President talking about this at 411 00:22:12,760 --> 00:22:14,720 Speaker 2: the White House. Are saying we are no longer to 412 00:22:14,760 --> 00:22:16,720 Speaker 2: be taken advantage of, and the rest of the world 413 00:22:16,800 --> 00:22:18,800 Speaker 2: is going to have to pay their fair share, and 414 00:22:18,800 --> 00:22:20,960 Speaker 2: we're not going to subsidize these companies. 415 00:22:21,840 --> 00:22:24,919 Speaker 4: But starting today, the United States will no longer subsidize 416 00:22:25,000 --> 00:22:28,520 Speaker 4: the healthcare of foreign countries, which is what we were doing. 417 00:22:28,520 --> 00:22:32,439 Speaker 4: We're subsidizing others healthcare countries where they paid a small 418 00:22:32,520 --> 00:22:36,199 Speaker 4: fraction of what for the same drug that. 419 00:22:36,280 --> 00:22:38,399 Speaker 5: What we pay many, many times and more for. 420 00:22:39,040 --> 00:22:43,120 Speaker 4: And we're no longer tolerate profiteering and price gouging from 421 00:22:43,119 --> 00:22:46,800 Speaker 4: big pharma. But again, it was really the countries that 422 00:22:46,920 --> 00:22:51,119 Speaker 4: forced big pharma to do things that frankly, I'm not 423 00:22:51,160 --> 00:22:54,359 Speaker 4: sure they really felt comfortable doing. But they've gotten away 424 00:22:54,359 --> 00:22:59,199 Speaker 4: with it these countries. European Union has been brutal, and 425 00:22:59,240 --> 00:23:01,679 Speaker 4: the drug companies actually told me, sir as, it was 426 00:23:01,880 --> 00:23:04,760 Speaker 4: just brutal how they force them. And European Union suing 427 00:23:04,840 --> 00:23:12,000 Speaker 4: all our companies Apple, Google, Meta, they're suing all of 428 00:23:12,080 --> 00:23:12,680 Speaker 4: our companies. 429 00:23:12,680 --> 00:23:15,280 Speaker 5: They end up they have judges that are. 430 00:23:16,720 --> 00:23:24,560 Speaker 4: European Union centric and they get rewarded fifteen billion, seventeen billion, 431 00:23:24,680 --> 00:23:28,960 Speaker 4: twenty billion, and they use that to run their operation. 432 00:23:30,040 --> 00:23:32,159 Speaker 2: Not going to happen any longer that I can tell you, 433 00:23:34,119 --> 00:23:37,919 Speaker 2: not going to happen any longer that I can tell you. 434 00:23:38,240 --> 00:23:40,679 Speaker 2: And so is this going to be a slash and 435 00:23:40,720 --> 00:23:43,919 Speaker 2: the prices for you, the American people, Yes, how do 436 00:23:44,000 --> 00:23:44,399 Speaker 2: we know it. 437 00:23:44,480 --> 00:23:45,640 Speaker 1: Here's the president on that. 438 00:23:46,000 --> 00:23:48,080 Speaker 4: So for the first time in many years, we'll slash 439 00:23:48,119 --> 00:23:49,640 Speaker 4: the costs of prescription. 440 00:23:49,320 --> 00:23:52,680 Speaker 5: Drugs, and we will bring fairness to America. Drug prices 441 00:23:52,720 --> 00:23:55,640 Speaker 5: will come down by much more. 442 00:23:55,680 --> 00:23:57,919 Speaker 4: Really, if you think fifty nine, if you think of 443 00:23:58,359 --> 00:24:02,560 Speaker 4: a drug that is sometimes ten times more expensive, it's 444 00:24:02,640 --> 00:24:05,280 Speaker 4: much more than the fifty nine percent. You know, it 445 00:24:05,280 --> 00:24:07,080 Speaker 4: depends on the way you want to analyze it. But 446 00:24:07,160 --> 00:24:09,520 Speaker 4: in one way, you could analyze it that way. But 447 00:24:09,640 --> 00:24:12,919 Speaker 4: between fifty nine and eighty and I guess even ninety percent. 448 00:24:14,160 --> 00:24:17,840 Speaker 4: So when I worked so hard in the first term, 449 00:24:17,880 --> 00:24:20,080 Speaker 4: and if I got prices down, I remember I was 450 00:24:20,080 --> 00:24:21,919 Speaker 4: the only one to ever get prices down for a 451 00:24:21,920 --> 00:24:22,480 Speaker 4: full year. 452 00:24:23,040 --> 00:24:24,080 Speaker 5: But I get them down like. 453 00:24:24,040 --> 00:24:25,960 Speaker 4: Two percent, and I thought it was like a big deal. 454 00:24:26,000 --> 00:24:30,080 Speaker 4: Well we're getting them down sixty seventy eighty ninety percent, 455 00:24:31,080 --> 00:24:33,240 Speaker 4: But actually more than that if you think about it 456 00:24:33,359 --> 00:24:38,919 Speaker 4: in the way mathematically, and Farmer has to say, we're sorry, 457 00:24:38,960 --> 00:24:42,720 Speaker 4: but we'll not be able to do this any longer. 458 00:24:42,760 --> 00:24:45,720 Speaker 4: To these to these countries that have been so tough, 459 00:24:46,080 --> 00:24:50,840 Speaker 4: they've been very tough, nasty. It's trade. It's trade, and 460 00:24:50,960 --> 00:24:55,480 Speaker 4: Farmer is also very powerful, and the Democrats have protected farmer. 461 00:24:56,440 --> 00:24:59,400 Speaker 2: And look, the President wasn't done there, as he explained 462 00:24:59,400 --> 00:25:02,040 Speaker 2: to the America people. And this is good for everyone. 463 00:25:02,160 --> 00:25:05,440 Speaker 2: This is not a political statement the present's making. He's 464 00:25:05,520 --> 00:25:08,760 Speaker 2: talking about how much more we are paying then other 465 00:25:08,800 --> 00:25:11,240 Speaker 2: countries are paying for the same drugs made in the 466 00:25:11,400 --> 00:25:14,960 Speaker 2: same pharmaceutical labs. The same damn pill in the same 467 00:25:15,000 --> 00:25:17,440 Speaker 2: place comes off the line, and it goes to one 468 00:25:17,480 --> 00:25:20,320 Speaker 2: country and they pay ten cents on the dollar compared 469 00:25:20,320 --> 00:25:21,120 Speaker 2: to the US. 470 00:25:21,320 --> 00:25:22,000 Speaker 1: It's wrong. 471 00:25:22,480 --> 00:25:27,400 Speaker 4: So today Americans spend seventy percent more for prescription drugs 472 00:25:27,400 --> 00:25:29,560 Speaker 4: that we spent in the year two thousand. 473 00:25:29,640 --> 00:25:31,119 Speaker 5: Think of that our. 474 00:25:31,000 --> 00:25:33,679 Speaker 4: Country has the highest drug prices anywhere in the world 475 00:25:33,720 --> 00:25:37,520 Speaker 4: by sometimes a factor of five, six seven, eight times. 476 00:25:38,280 --> 00:25:41,920 Speaker 4: It's not like they're slightly higher that six seven eight times. 477 00:25:41,920 --> 00:25:45,840 Speaker 4: There are even cases of ten times higher, so that 478 00:25:45,920 --> 00:25:48,840 Speaker 4: you go ten times more expensive for the same drug. 479 00:25:48,920 --> 00:25:49,880 Speaker 5: That's big numbers. 480 00:25:50,520 --> 00:25:52,960 Speaker 4: Even though the United States is home to only four 481 00:25:53,000 --> 00:25:57,479 Speaker 4: percent of the world's population, pharmaceutical companies make more than 482 00:25:57,520 --> 00:26:01,040 Speaker 4: two thirds of their profits. In America, with four percent 483 00:26:01,080 --> 00:26:05,840 Speaker 4: of the population, the pharmaceutical companies make most of their money. 484 00:26:06,280 --> 00:26:11,680 Speaker 5: Most of their profits from America. That's not a good thing. Now. 485 00:26:11,760 --> 00:26:14,240 Speaker 4: I think, by the way pharmaceutical I have great respect 486 00:26:14,280 --> 00:26:16,360 Speaker 4: for these companies and for the people that run them. 487 00:26:16,359 --> 00:26:18,920 Speaker 5: I really do, and I think they did one of 488 00:26:18,960 --> 00:26:20,080 Speaker 5: the greatest jobs. 489 00:26:19,760 --> 00:26:23,480 Speaker 4: In history for their company, convincing people for many years 490 00:26:23,480 --> 00:26:29,480 Speaker 4: that this was a fair system. Never nobody really understood why, 491 00:26:30,080 --> 00:26:33,400 Speaker 4: but I figured it out. For years, pharmaceutical and drug 492 00:26:33,440 --> 00:26:37,840 Speaker 4: companies have said that research and development costs were what 493 00:26:37,880 --> 00:26:40,360 Speaker 4: they are for no reason whatsoever. 494 00:26:41,040 --> 00:26:46,560 Speaker 5: They had to be borne by America alone. Not anymore. 495 00:26:46,600 --> 00:26:51,000 Speaker 2: They don't, not anymore, they don't the present saying we're 496 00:26:51,000 --> 00:26:56,320 Speaker 2: going to most favored nation prescription drug pricing. This is 497 00:26:56,359 --> 00:26:59,040 Speaker 2: where it's going to affect you in your bottom line 498 00:26:59,040 --> 00:27:01,840 Speaker 2: when you go shop for drugs that you need. 499 00:27:02,119 --> 00:27:03,720 Speaker 1: And here is how that's going to work. 500 00:27:04,400 --> 00:27:06,760 Speaker 4: But it's called most favored nation. We are going to 501 00:27:06,800 --> 00:27:10,399 Speaker 4: pay the lowest price there is in the world. We 502 00:27:10,440 --> 00:27:13,879 Speaker 4: will get whoever is paying the lowest price. That's the 503 00:27:13,920 --> 00:27:16,239 Speaker 4: price that we're going to get. So remember that. So 504 00:27:16,240 --> 00:27:20,359 Speaker 4: we're no longer paying ten times more than another country. 505 00:27:20,480 --> 00:27:23,640 Speaker 4: Whoever is paying the lowest price. We will look at 506 00:27:23,640 --> 00:27:25,840 Speaker 4: that price and we will say that's the price we're 507 00:27:25,880 --> 00:27:29,520 Speaker 4: going to pay most favored nations. 508 00:27:29,680 --> 00:27:30,440 Speaker 5: That's what it is. 509 00:27:31,600 --> 00:27:37,200 Speaker 4: One breast cancer drug costs Americans over sixteen thousand dollars 510 00:27:37,200 --> 00:27:41,040 Speaker 4: per bottle, but the same drug from the same factory, 511 00:27:42,240 --> 00:27:47,919 Speaker 4: manufactured by the same company is one sixth that price 512 00:27:47,960 --> 00:27:52,880 Speaker 4: in Australia and one tenth that price in Sweden, one 513 00:27:52,960 --> 00:27:59,040 Speaker 4: tenth for the identical product. A common asthma drug costs 514 00:27:59,080 --> 00:28:02,680 Speaker 4: almost five hundred dollars here in America, but costs less 515 00:28:02,720 --> 00:28:06,160 Speaker 4: than forty dollars in the United Kingdom. So forty dollars 516 00:28:07,440 --> 00:28:09,880 Speaker 4: in the United Kingdom, which is where this gentleman told 517 00:28:09,920 --> 00:28:15,399 Speaker 4: me he paid a small amount for his shot. But 518 00:28:15,920 --> 00:28:20,560 Speaker 4: think of that, So forty dollars versus five hundred dollars. 519 00:28:20,280 --> 00:28:26,760 Speaker 2: Here, forty dollars compared to four or five hundred dollars here. 520 00:28:27,400 --> 00:28:30,800 Speaker 2: You have a president that is saying it very clearly, 521 00:28:31,520 --> 00:28:34,480 Speaker 2: this should have been done a long time ago. We 522 00:28:34,560 --> 00:28:37,720 Speaker 2: should have made it competitive market. That's what the American 523 00:28:37,760 --> 00:28:40,800 Speaker 2: people should have expected here. And one of the biggest 524 00:28:40,840 --> 00:28:43,000 Speaker 2: problems is when it comes to us is we have 525 00:28:43,080 --> 00:28:47,480 Speaker 2: so many people that are filing bankruptcy, so many Americans 526 00:28:47,800 --> 00:28:52,080 Speaker 2: that are that are filing bankruptcy because of these incredibly 527 00:28:52,520 --> 00:28:56,520 Speaker 2: high prices. This is a historic day for the president. 528 00:28:56,560 --> 00:28:58,960 Speaker 2: It's a historic day, by the way, for the American people. 529 00:28:59,360 --> 00:29:02,880 Speaker 2: It's something we should all be so excited about because 530 00:29:02,880 --> 00:29:06,440 Speaker 2: we finally have a president that is saying no more 531 00:29:06,520 --> 00:29:09,240 Speaker 2: to bankruptcy because of people that are having to mortgage 532 00:29:09,280 --> 00:29:12,040 Speaker 2: their homes and second mortgage and third mortgage to pay 533 00:29:12,040 --> 00:29:14,840 Speaker 2: for life saving pills that other countries are paying payings 534 00:29:14,880 --> 00:29:17,200 Speaker 2: on the dollar for. It's exactly, by the way, what 535 00:29:17,280 --> 00:29:19,120 Speaker 2: the NIH director had to say. 536 00:29:19,280 --> 00:29:22,480 Speaker 8: I firmly believe in research and development for drugs. I mean, 537 00:29:23,040 --> 00:29:27,600 Speaker 8: it's part of the NIH mission to look for fundamental 538 00:29:27,600 --> 00:29:31,120 Speaker 8: biological advances that develop in better treatments. But why should 539 00:29:31,120 --> 00:29:33,960 Speaker 8: it only be American taxpayers that pay for that. What 540 00:29:34,080 --> 00:29:37,040 Speaker 8: President Trump is doing is saying enough, let's have a 541 00:29:37,080 --> 00:29:40,400 Speaker 8: broader base of support for this research mission. It's actually 542 00:29:40,440 --> 00:29:43,200 Speaker 8: pro in some ways pro pharmas because it's going to 543 00:29:43,240 --> 00:29:47,120 Speaker 8: expand the set of of sort of stakeholders to include 544 00:29:47,120 --> 00:29:49,840 Speaker 8: Europeans as well for the support of R and D, 545 00:29:50,240 --> 00:29:54,000 Speaker 8: while at the same time protecting American taxpayers from having 546 00:29:54,080 --> 00:29:56,960 Speaker 8: to pay such high prices for drugs. I mean, we 547 00:29:57,080 --> 00:30:00,880 Speaker 8: have patients going bankrupt over hy high health bills. 548 00:30:00,920 --> 00:30:04,320 Speaker 2: We have a going bankrupt and the present's trying to 549 00:30:04,360 --> 00:30:07,320 Speaker 2: stop that. Don't forget we do this show every day, 550 00:30:07,400 --> 00:30:10,320 Speaker 2: so make sure you hit that subscribe or auto download 551 00:30:10,320 --> 00:30:12,480 Speaker 2: button so you don't miss any of the interviews we do, 552 00:30:12,600 --> 00:30:15,520 Speaker 2: especially with members of the administration. And I'll see you 553 00:30:15,560 --> 00:30:16,920 Speaker 2: back here tomorrow morning.