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So WOW is there for our customers with speed, reliability, value, and choice. | |
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| Wow. | ||
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| Good afternoon everybody. | ||
| How are you? | ||
|
unidentified
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Good. | |
| I'll let my staff get settled. | ||
| There's a lot of news today, so I look forward to taking your questions. | ||
| Good to see you. | ||
| And I have some updates for you as well. | ||
| Later today, President Trump will address the Business Roundtables quarterly meeting, where he will tout his pro-growth economic agenda and answer questions before more than 100 of our nation's leading CEOs. | ||
| In fact, it's the largest attendance ever for this event because business leaders are so eager and encouraged by President Trump's return to Washington. | ||
| This follows President Trump's roundtable yesterday with the Technology CEO Council here at the White House, where he met with key leaders in the technology industry. | ||
| And last night, President Trump also held an official swearing-in ceremony in the Oval Office for Sean Curran, who is now the 28th Director of the United States Secret Service. | ||
| Sean demonstrated unbelievable bravery under gunfire in Butler, Pennsylvania this past July when an assassin tried to kill President Trump. | ||
| As someone who got to know Sean personally throughout the campaign last year, I can say unequivocally that there is nobody better suited for this important role. | ||
| And following the confirmation of Labor Secretary Laurie Chavez de Rumer last night, the Senate has now confirmed 21 of President Trump's well-qualified cabinet-level nominees, far outpacing the previous administration. | ||
| And looking ahead, tomorrow, the President will welcome the Tao Shaw Michal Martin of Ireland for the annual White House Shamrock Ceremony. | ||
| And Thursday, President Trump will welcome the NATO Secretary General for a working meeting and lunch. | ||
| On the economy, February's jobs report was good news for America, particularly our manufacturing sector. | ||
| The manufacturing sector gained 10,000 new jobs in just one month under President Trump. | ||
| This rebound was led by the automobile sector, where we saw 9,000 new auto jobs created already. | ||
| That is the most auto jobs added to the economy in 15 months. | ||
| This was a complete turnaround from the Biden administration, where we were losing an average of 9,000 manufacturing jobs per month last year. | ||
| Reuters is out with a report that a number of companies are now looking at expanding their presence or bringing their businesses into America because of President Trump's policies. | ||
| And just moments ago, before coming out here, I saw another report by Reuters revealing that Merck has opened a $1 billion facility at its North Carolina site. | ||
| This is just the latest pharmaceutical company to boost its U.S. manufacturing in lieu of President Trump's tariffs. | ||
| This announcement follows Eli Lilly's plans to invest at least $27 billion to build four new manufacturing plants here in the United States. | ||
| And Pfizer has also said it's considering moving their manufacturing overseas right here to the United States of America. | ||
| As the President has said over and over again, when we purchase products made in the USA, the profits stay here, the revenue stays here, and most importantly, the jobs stay here. | ||
| And despite the globalist mainstream media's attempts to worry consumers, President Trump will not repeat the trend of past American presidents who broke their promises to the American public and smiled while they stuck a knife in the back of American workers and shipped their jobs overseas. | ||
| Our country has lost more than 5 million jobs in more than 90,000 factories due to devastating globalization over the last three decades alone. | ||
| North Carolina lost 300,000 manufacturing jobs, including 60% of its furniture manufacturing jobs in the years following NAFTA. | ||
| And in Michigan, globalist policies destroyed 250,000 jobs, including 40% of the auto industry, which again, we know is clawing back because of President Trump's action already. | ||
| These are harrowing statistics that represent countless towns and families who have been completely destroyed. | ||
| But the America last globalist era is ending under President Trump. | ||
| He will no longer allow our country and our workers, our hardworking American families, to be ripped off. | ||
| On another very important issue for the president, he continues to work hard to secure the border. | ||
| If you missed it yesterday, CBP launched an enhanced home mobile app with a new feature, the Intent to Depart, which offers unlawfully present aliens or those aliens whose parole has been revoked an orderly and defined process to notify the U.S. government of their intent to depart the country. | ||
| The CBP home app strengthens our mission to secure the border and provides illegal aliens with a straightforward way to leave now before facing much harsher consequences later. | ||
| A new report from Bloomberg just found that the number of aliens trying to reach our country by traveling through the jungle to Central America dropped a whopping 99% last month. | ||
| And this follows the incredible news that illegal border crossings plummeted last month as well, down 94% at our southern border from last February under the Biden administration. | ||
| As President Trump made clear during his historic address to Congress, we must finish this job and continue to carry out the largest deportation campaign in American history. | ||
| And that is why the President fully endorses the continuing resolution that is before Congress and was negotiated by Speaker Johnson. | ||
| He is encouraging all Republicans to vote yes on this clean CR, which freezes funding at current levels and will prevent the Democrats from getting their long-awaited government shutdown. | ||
| Voting against this CR will hurt the American people and kill the incredible momentum that President Trump has built over the past 51 days. | ||
| And lastly, before I take questions, I would like to commend the Washington Post, who I believe is in the room today. | ||
| According to a new report from Axios, the Washington Post is overhauling their newsroom structure. | ||
| It appears that the mainstream media, including the Post, is finally learning that having disdain for more than half of the country who supports this president does not help you sell newspapers. | ||
| It's not a very good business model. | ||
| And that's why we have people in our new media seat. | ||
| And today, we have Sargar Aneti, who is the host of Breaking Points, a popular political YouTube news and podcast show that has racked up nearly 1 billion views on YouTube, several hundred million podcast downloads since its launch in June 2021. | ||
| He's also a former member of the White House Correspondents Association, but is now a part of the thriving independent media. | ||
| We're very happy to have you with us here today. | ||
| Why don't you kick off our briefing? | ||
| Thank you. | ||
| Really, really appreciate you having me, Caroline. | ||
| A couple of questions for you, if I may. | ||
| First is first on this stock market. | ||
| So currently it's the 25th anniversary today of the dot-com bubble crash. | ||
| There's a lot of concern for a lot of Americans right now about the state of the economy. | ||
| President Trump has refused to rule out a recession. | ||
| Secretary Lutnick, however, has told us there will not be one. | ||
| So can the White House just tell and assure Americans today that there's not going to be a recession? | ||
| Well, there's a lot to unpack there. | ||
| So let me start by saying that first of all, when it comes to the stock market, the numbers that we see today, the numbers we saw yesterday, the numbers we'll see tomorrow, are a snapshot of a moment of time. | ||
| And as President Trump has said, and I'm here to echo the remarks of this president of this White House, we are in a period of economic transition. | ||
| We are in a period of transition from the mess that was created under Joe Biden in the previous administration. | ||
| Joe Biden left this country in an economic disaster. | ||
| Several statistics to point out. | ||
| The delinquency rate on credit card loans increased 63% under Joe Biden, hitting a near 12-year high. | ||
| Under Joe Biden, all net job growth went to foreign-born Americans. | ||
| Real wages declined by 1.5% under Joe Biden. | ||
| And as we all know, and this administration continues to combat, prices soared more than 20% under Joe Biden because of his reckless spending and economic policies. | ||
| So we are in a period of transition from that economic nightmare under a president who had no idea what he was doing, never held a private sector job in his life, into a golden age of American manufacturing under a businessman and a dealmaker-in-chief and President Donald J. Trump, who will be implementing, is implementing, the formula that we know works. | ||
| Look at President Trump's results in his first term. | ||
| If people are looking for certainty, they should look at the record of this president. | ||
| That's why the American people re-elected him back to this office. | ||
| And look at everything that President Trump has already done and his team has already done in just 51 days. | ||
| The massive efforts to deregulate, tax cuts, which we need Congress to pass the Trump economic agenda, the Trump tax cuts, which will unleash economic growth. | ||
| And the President also addressed this directly, I will point out as well, when you look at what he said on Air Force One. | ||
| And he said, he wants the American people to have so much money in their pockets they don't even know what to do with it. | ||
| That's the intent of this administration, and we're working very hard every day on that goal. | ||
| Second question on the CR. | ||
| So President Trump came out today in a primary challenge against Congressman Thomas Massey. | ||
| Congressman Massey's been a supporter of Doge. | ||
| He's been a supporter of Make America Healthy Again. | ||
| What kind of message is this White House sending against a congressman who's sticking out for principles that he's long held in the chamber and voting against continuing resolution and spending? | ||
| I think the President has made it very clear that he believes it's critical for conservatives and Republicans and frankly all members of Congress to get behind this continuing resolution to keep the government funded. | ||
| The president wants to continue the momentum that he has built over the last 51 days. | ||
| In order to keep the government funded, we've got to keep moving with these deportations. | ||
| And he believes that everybody needs to get on board with this bill. | ||
| He's been active in this process. | ||
| He's been making calls to get this over the finish line. | ||
| And we're urging every Republican and Democrats too to do what's right for the American public to prevent a government shutdown. | ||
| So the last question here on Mahmoud Khalil. | ||
| Does the administration believe that it needs to charge a green card holder with a crime to be eligible for deportation? | ||
| Well, in fact, Secretary Rubio reserves the right to revoke the visa of Mahmoud Khalil. | ||
| And I'm glad you brought this up. | ||
| Under the Immigration and Nationality Act, the Secretary of State has the right to revoke a green card or a visa for individuals who serve or are adversarial to the foreign policy and national security interests of the United States of America. | ||
| And Mahmoud Khalil was an individual who was given the privilege of coming to this country to study at one of our nation's finest universities and colleges. | ||
| And he took advantage of that opportunity, of that privilege, by siding with terrorists, Hamas terrorists who have killed innocent men, women, and children. | ||
| This is an individual who organized group protests that not only disrupted college campus classes and harassed Jewish American students and made them feel unsafe on their own college campus, but also distributed pro-Hamas propaganda, flyers with the logo of Hamas. | ||
| That is what the behavior and activity that this individual engaged in. | ||
| And I have those flyers on my desk. | ||
| They were provided to me by the Department of Homeland Security. | ||
| I thought about bringing them into this briefing room to share with all of you, but I didn't think it was worth the dignity of this room to bring that pro-Hamas propaganda. | ||
| But that's what this individual distributed on the campus of Columbia University. | ||
| And this administration is not going to tolerate individuals having the privilege of studying in our country and then siding with pro-terrorist organizations that have killed Americans. | ||
| We have a zero tolerance policy for siding with terrorists, period. | ||
| Peter Ducey. | ||
| Thank you, Caroline. | ||
| So you said that the Dow dropping and dropping and dropping is a period of transition. | ||
| You're sure nobody here at the White House shorted the Dow? | ||
| No, I don't think so. | ||
| Okay. | ||
| But is there any concern here that it's going to be harder to ask certain federal workers to retire if they look at their retirement accounts and they're getting rocked every day? | ||
| Well, I'm glad you brought up workers because that's exactly who President Trump is looking out for with his America First Trade policy and his America First economic agenda. | ||
| And if you look at, there's great indication to be optimistic about where the economy stands. | ||
| And the American people, investors, CEOs, small business owners, but most importantly, workers, should bet on President Trump because his tariff policies, what he envisions, is reciprocity, fair trade practices, where American workers are put first and are no longer ripped off by foreign countries all over this world. | ||
| President Trump says he's going to buy a Tesla today. | ||
| Did he buy it? | ||
| And when is the last time he drove a car? | ||
| That's a very good question. | ||
| I have heard the president remark that he misses being able to drive that luxury of driving his own vehicle, although the beast is nice, but he is going to be viewing a Tesla that is making its way to the White House complex now, I can confirm. | ||
| Perhaps the press pool today will have an opportunity to witness this very exciting moment later this afternoon. | ||
| But Tesla is on its way here now, and we'll see if the president likes it when he checks it out. | ||
| So they're bringing him a Tesla to look at, and if he likes it, he's just going to buy it. | ||
| You know, he's intent on, he's definitely going to buy one, but he'll take a look at it when it gets here later this afternoon. | ||
| Full retail? | ||
| Yes, full market price. | ||
| Kelly. | ||
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Can we talk about Canada? | |
| What is the status of President Trump having a conversation with Mark Carney? | ||
| We have seen the president use the term governor to refer to Justin Frudeau. | ||
| Will that moniker also go to Mr. Carney going forward? | ||
| And is the decision to increase the tariffs, is that based on a specific economic metric that he looked at? | ||
| Is it impulse? | ||
| How would you describe his reaction to Canada? | ||
| The president has not yet spoken to Mr. Kearney, not since I checked, which was just moments ago. | ||
| But certainly his phone is always open to leaders who wish to speak with him. | ||
| As for the tariffs, the president made his position on this quite clear with the statement that he put out. | ||
| And it was a retaliatory statement due to the escalation of rhetoric that we've seen out of Ontario, Canada. | ||
| The president saw the Premier Doug Ford make an egregious and insulting comment threatening to shut down electricity for the American people, for hardworking American families. | ||
| He made that threat. | ||
| The President saw that and has an obligation and a responsibility to respond accordingly and represent the interests of the American people. | ||
| So he has made the decision to add a 25% tariff. | ||
| So now steel and aluminum tariffs will come into effect tomorrow at the rate of 50%. | ||
| And our steel and aluminum industries have actually applauded these tariffs because, again, they know it's going to grow their industry here. | ||
| It's going to allow them to export more steel that is made right here in the United States with American workers. | ||
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unidentified
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Egregious and insulting are your words here, but that's what many Canadian leaders have said about the actions President Trump has taken toward Canada. | |
| And what do you think the timeline is for speaking to Mr. Kearney? | ||
| Because normally a sitting president speaks to a close ally very quickly when there's new leadership. | ||
| Well, the President is again responding to the fact that Canada has been ripping off the United States of America and hardworking Americans for decades. | ||
| If you look at the rates of tariffs across the board that Canadians have been imposing on the American people and our workers here, it is egregious. | ||
| In fact, I have a handy dandy chart here that shows not just Canada, but the rate of tariffs across the board. | ||
| If you look at Canada since you brought it up, American cheese and butter, nearly 300% tariff. | ||
| You look at India, 150% tariff on American alcohol. | ||
| You think that's helping Kentucky bourbon be exported into India? | ||
| I don't think so. | ||
| 100% tariff on agricultural products from India. | ||
| Look at Japan tariffing rice, 700%. | ||
| President Trump believes in reciprocity, and it is about dang time that we have a president who actually looks out for the interests of American businesses and workers. | ||
| And all he's asking for at the end of the day are fair and balanced trade practices. | ||
| And unfortunately, Canada has not been treating us very fairly at all over the past several decades. | ||
| To the woman in the purple, because I saw you were making a face at my previous answer. | ||
| So what's going on? | ||
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unidentified
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Well, actually, I have a couple of questions. | |
| At the core of pro-Palestinian protests on college campuses and elsewhere is a demand to end the war in Gaza, a goal that this administration actually supports and has pursued. | ||
| So why has this not been acknowledged or highlighted even? | ||
| Because these colleges and these protests have again put out Hamas propaganda. | ||
| The flyers that have been distributed call for violence. | ||
| The flyers that have been distributed have the logo of an organization that has held Americans hostage, that murdered innocent babies, that murdered men, women, and children. | ||
| They are a designated foreign terrorist organization, and we are not going to tolerate non-citizens, foreigners who come here on a visa engaging in such behavior, siding with terrorists. | ||
| And the Secretary of State reserves the authority to revoke the green card or the visa of an individual who serves as an. | ||
| Actually, it says right here reasonable grounds to believe that the aliens presence or activities in the United States would have potentially serious adverse foreign policy consequences to the United States, and I think siding with Hamas makes that quite clear. | ||
| Secretary Rubio exercised that authority and we fully believe that we are going to move forward with more arrests, as President Trump previewed in his statement yesterday. | ||
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unidentified
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So are there conversations between the administration and the Canadians going on over this tariff, because the Ontario Premier says the next step is to cut off electricity to the U.S. | |
| And the President put out a statement after seeing those comments and said that There would be grave consequences imposed on Canada if they think about shutting off electricity for the United States of America and our citizens. | ||
| And the President is also determined to ensure that we are depending on American electricity, not the electricity production of foreign nations, including our allies in Canada. | ||
| As for conversations, there is continued correspondence between the president's team, particularly Secretary Luttnick, and the Canadians as well. | ||
|
unidentified
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In the market reaction, how do you sell to the American people then after looking at what's happening in the markets this week and say that the tariff policy long term is something good? | |
| Well, just think about what the tariff policy long term will do for our country. | ||
| I think many of us probably grew up in small towns. | ||
| I know at least I did. | ||
| And the main street in my small town looks a heck of a lot worse than it probably did decades ago before I was alive. | ||
| At least my parents and grandparents tell me so. | ||
| And I know many Americans feel that same way. | ||
| What the President envisions for this country is for the United States of America to be a manufacturing superpower where there are American factories and businesses owned by Americans producing goods that we are exporting to the rest of the world. | ||
| Those revenues will stay here. | ||
| It will increase wages for people here in our great country. | ||
| It will ensure our national security. | ||
| And it will boost the morale of the American people to have thriving industries again. | ||
| Think about Detroit, Michigan. | ||
| Think about North Carolina, as I mentioned, that used to have a thriving furniture industry that no longer exists because of the globalist trade policies of previous and past administrations. | ||
| And the American people gave the president a tremendous opportunity to restore American greatness and restore our manufacturing dominance, and he's intent on doing just that. | ||
| Thanks a lot, Caroline. | ||
|
unidentified
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Two questions for you. | |
| First, on the CR, you put up on the screen the President's message to Republicans to support this continuing resolution. | ||
| Is there outreach to Democrats? | ||
| Because what we've seen since the beginning of the fiscal year is that in order to get a continuing resolution, you need bipartisan support and you need compromise. | ||
| Well, right now, we are focused on House Republicans and on the House, because that's the first step, as you know, John. | ||
| And so the President has engaged in correspondence with House Republicans, whipping votes and getting them to a yes, which I understand has been pretty successful this morning thus far. | ||
| And so again, the president is encouraging Republicans especially, but again, as I said, all members of Congress to vote to continue funding this government so we can continue the business of the American people, which elected President Trump to do. | ||
|
unidentified
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And then on financial markets, we've seen this decline yesterday. | |
| We see it today as well. | ||
| It seems that the read on the president's policies is one in which they do not have confidence in his trade tariffs policy. | ||
| They do not have confidence in what the president said to Fox News over the weekend that he didn't rule out the idea of a recession. | ||
| What is your read in terms of the decline that we've seen over the last week and a half in financial markets? | ||
| Well, I think there's actually a lot of reason to be confident, and many people do feel confident. | ||
| Just look at the nearly $2 trillion in private investment that this president has secured. | ||
| Look at the comments made by the CEO of Apple, one of the biggest companies in this world, who said that he is bullish on the future of American innovation under the leadership of President Trump. | ||
| Look at CEO confidence. | ||
| According to the conference board measure of CEO confidence, in Q1, 2025, under the leadership of this president, it jumped to its highest level in three years from cautious optimism to confident optimism. | ||
| If you, again, look at the $2 trillion in investments from some of the biggest companies in the world, look at the jobs report last Friday, as I also cited in my opening remarks. | ||
| Fox Business reported that Trump sees a manufacturing boom in First Foals' jobs report of his second term. | ||
| Look at the auto jobs that have already poured back into America. | ||
| We added 9,000 new auto jobs. | ||
| Those are sticky jobs. | ||
| Those are good paying jobs. | ||
| That's 9,000 American families who will now be able to live the American dream because of the policies of this administration. | ||
| You also look at small business optimism. | ||
| The NFIB put out a report this morning. | ||
| Small business optimism continues to be far higher than it ever was under the previous administration. | ||
| There's a lot of reason to be optimistic. | ||
| And again, the American people, CEOs, and people on Wall Street and on Main Street should bet on this president. | ||
| He is a dealmaker, he is a businessman, and he's doing what's right for our country. | ||
| He wants to restore wealth to the United States of America. | ||
| Michael, good to see you. | ||
|
unidentified
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Two questions, if I may. | |
| Will the administration be providing any relief to states affected by the Ontario power tariff? | ||
| Well, the President has made it very clear that Canada would be very wise not to shut off electricity for the American people. | ||
| And we hope that that does not happen. | ||
| As for what would happen if that does take place, I'll leave it to the President to make those decisions. | ||
|
unidentified
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Does President Trump share the Justice Department's concern over rising egg prices and possible collusion of big egg? | |
| Well, we definitely do share the concerns of the American people when it comes to the price of eggs. | ||
| However, good news, the average cost of a dozen eggs is actually down since Secretary Rollins and President Trump announced their plan. | ||
| It's down $1.85. | ||
| So that's good news on the cost of eggs. | ||
| And as we know, under the Biden administration, egg prices went up 22 percent. | ||
| This is another example of an economic mess that President Trump inherited. | ||
| And the Secretary of Agriculture and the President are focused on fixing it. | ||
| Secretary Rollins put out a five-point plan, a four-point plan rather, to address this crisis. | ||
| And she has been honest and realistic with the American people, as this administration always is. | ||
| It will take about three to six months to get the egg supply back to where it should be. | ||
| But she's focused, and this administration is focused on doing that every day. | ||
| Karen. | ||
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unidentified
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Thanks, Caroline. | |
| Just back on the market. | ||
| You said that what we're seeing this week right now in Wall Street is a snapshot of a moment in time. | ||
| But does the President think he bears any responsibility for the turmoil in the stock market this week? | ||
| Look, the president is unwavering in his commitment to restore American manufacturing and global dominance. | ||
| And I think he doubled down on that this morning with his new statement and the tariffs that will be implemented tomorrow on steel and aluminum. | ||
|
unidentified
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And he has said recently he's not looking at the market. | |
| He said you can't really watch the start to the stock market, but all of the gains since election day have been erased in the SP 500. | ||
| At what point, how far do stocks have to fall before the president considers it a factor and changes course? | ||
| Again, as I just said, the president will look out for Wall Street and for Main Street just like he did in his first term. | ||
| And people on Wall Street and Main Street should bet on this president. | ||
| He's doing what's right for this country. | ||
| Nick, good to see you. | ||
|
unidentified
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Good to see you, Stu. | |
| Thank you, Caroline. | ||
| So is the President prepared like what we saw with Congressman Massey to pressure other Republican lawmakers into supporting this continuing resolution? | ||
| Well, he is very much, as I said, engaged in this process. | ||
| He's been making calls to lawmakers on Capitol Hill. | ||
| And I think his statements against Congressman Massey speak for themselves. | ||
| And I will let the President put out any additional statements if he chooses to, but he fully expects all House Republicans to vote for this continuing resolution. | ||
|
unidentified
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Just to follow up, can we start to anticipate seeing more of the president weighing in on upcoming 2026 races like we saw this morning? | |
| I'm not sure about that. | ||
| I'm not even sure if I'm allowed to speak about that from this podium. | ||
| I would check in with our outside political team for guidance on future races and the president's involvement. | ||
| Elena. | ||
|
unidentified
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Thank you. | |
| I want to ask you about some comments Elon Musk made yesterday. | ||
| He said that there is $500 to $700 billion in waste and fraud and entitlement spending. | ||
| He called it, quote, the big one to eliminate. | ||
| Earlier this month, he also referred to Social Security as a Ponzi scheme. | ||
| Should Americans expect changes, big changes to Social Security and Medicare? | ||
| President Trump has been unequivocally clear on this. | ||
| He is going to protect Social Security and Medicare benefits and Medicaid for hardworking Americans who paid into these entitlement programs and deserve those hard-earned benefits. | ||
| And unfortunately, the mainstream media has taken Mr. Musk out of context. | ||
| I saw a Bloomberg headline that our team actually worked on getting updated and fixed because it was so wrong and it took Mr. Musk out of context. | ||
| What he was specifically referring to cutting was the waste and the fraud and abuse that does exist in these programs. | ||
| According to an IG report from the Social Security Administration, there's more than $70 billion of fraud in the Social Security program alone that we know of. | ||
| And so the president will continue to protect these programs for hardworking Americans. | ||
| And actually cutting the waste, fraud, and abuse out of these programs will protect it for hardworking Americans. | ||
|
unidentified
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Respectfully, he said around $500 to $700 billion. | |
| There was no evidence to claim that. | ||
| And also, if that is the case, that would represent more than a third of what Social Security paid out last year, maybe 20% of Social Security and Medicare. | ||
| Again, if you read his full quote, he said, we think. | ||
| So it's an estimate based on what he's seen. | ||
| He's not saying definitively, he's saying that's what Doge suspects and thinks. | ||
| And that's exactly why Doge was created to ensure that we are investigating the fraudulent spending, the wasteful abuse across our federal government. | ||
| And I would remind everybody in this room that 77% of the American people support this effort by Elon Musk and Doge to identify such waste, fraud, and abuse. | ||
|
unidentified
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| Also, Maryland Democratic Congresswoman Sarah Elfrith discusses this week's vote on the measure to fund the government through September 30th and her legislation to protect some federal workers from Doge layoffs. | ||
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