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May 15, 2025 - Sean Hannity Show
35:02
The China Trade Deal - May 14th, Hour 3
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Hey, right here for our final news roundup and information overload in the final hour of the Sean Hannity Show.
All right, news roundup and information overload hour.
Toll-free on numbers 800-941-Sean, if you want to be a part of the program, we continue on this journey to the Gulf States with the president leaving Saudi Arabia early this morning.
Now we are in Doha.
We are in Qatar and a lot of business is taking place.
A lot of financial commitments are taking place.
I mean, we're now talking about trillions of dollars between Saudi Arabia, UAE, and Qatar in investments in America.
You know, and I think one of the frankly underreported stories of the president's even threat of tariffs has been the willingness of companies and countries to invest in America.
Now, I want to be very, very clear here.
This does not offer or in any way, it does not resolve some underlying issues with some countries.
It does not offer any kind of, you know, recognition of anything other than a business deal.
But let me go to the president announcing that he is slashing the cost of prescription drugs.
This will impact every single American family in ways that are dramatic.
Keep in mind that America develops and it costs these pharmaceutical companies billions and billions of dollars to start with a concept and finally get approval from the government to be able to sell a drug.
They have 10 years to maximize their profits.
During that 10-year period, no generic drug can be made.
After the 10-year period, anybody can make that drug.
But the hard part is, is countries that have socialized medicine don't want to pay anything near the value of that drug that would reimburse these companies and also give them the profits so they can continue to develop other medicines that will hopefully help to save human lives.
I know many people want to demonize the pharmaceutical industry.
They do a lot of good things as well.
Here's what the president said.
What's been happening is we've been subsidizing other countries throughout the world, not just in Europe, throughout the world.
European Union was the most difficult from what I understand.
So, for the first time in many years, we'll slash the cost of prescription drugs, and we will bring fairness to America.
Drug prices will come down by much more, really, if you think.
59.
If you think of a drug that is sometimes 10 times more expensive, it's much more than the 59%.
You know, it depends on the way you want to analyze it, but in one way, you could analyze it that way.
But between 59 and 80, and I guess even 90 percent.
So, when I worked so hard in the first term, and if I got prices down, remember I was the only one to ever get prices down for a full year, but I'd get them down like 2%, and I thought it was like a big deal.
Well, we're getting them down 60, 70, 80, 90 percent, but actually more than that if you think about it in the way mathematically.
And Farmer has to say we're sorry, but we'll not be able to do this any longer to these companies to these countries that have been so tough.
They've been very tough, nasty.
It's trade.
It's trade.
Why should we be ripped off left, right, and sideways?
I mean, think about this.
About 80% of the world's medications and drugs that are developed are developed here in the U.S. In a way that's intellectual property theft, that we've, again, institutionalized a system that abuses Americans.
We end up paying $1,000 a month for a drug.
I have a friend of mine that pays $600 for a drug.
If you buy the same drug in a country that is socialized medicine, he's paying under $100.
It is just morally wrong.
And Americans should get more favorable treatment on this.
I agree with him totally.
Here's what the president said on China trade negotiations as well.
And all that's going on here in the Middle East, it maybe didn't get the attention it really truly deserves.
I did speak with Scott Besson on this trip.
I asked him, I said, how did you pull this off so quickly?
And I'll tell you his answer on the other side.
In addition, yesterday we achieved a total reset with China after productive talks in Geneva.
Both sides now agreed to reduce the tariffs imposed after April 2nd to 10% for 90 days as negotiators continue on the largest structural issues.
And I want to tell you that a couple of things.
First of all, that doesn't include the tariffs that are already on, that are our tariffs, and it doesn't include tariffs on cars, steel, aluminum, things such as that, or tariffs that may be imposed on pharmaceuticals because we want to bring the pharmaceutical businesses back to the United States.
And they're already starting to come back now based on tariffs because they don't want to pay 25, 50, or 100% tariffs.
So they're moving them back to the United States.
The biggest thing that we're discussing is the opening up China, and they've agreed to do that, but it's going to take a while to paper it.
You know, that's not the easiest thing to paper.
But that's the single, I think, to me.
Some people would disagree.
Some people would say we're getting a lot of money with tariffs or whatever.
But, you know, especially when you add what we already have.
Because remember, we're already getting the 50% on steel and different things.
That's not included in these numbers.
So you can add that.
But the biggest thing to me is the opening up.
I think it would be fantastic for our businesses if we could go in and compete.
Now we have so much happening on the economy.
Now, it's what Scott Besson told me.
I said, how is it possible a week ago?
It wasn't this past Friday, the one before the Communist Chinese said that they were, oh, if Donald Trump's serious, we are open to negotiations.
The following weekend, Scott Besson met with them on Saturday and Sunday in Geneva.
And lo and behold, we have this 90-day deal that he is very confident will turn into a permanent agreement between the two countries.
I also spoke with Howard Luttnick.
He did the Great Britain deal, and he explained to me in some specificity, these countries have known they're ripping us off.
It's just been a mad that they wondered when America would wake up, to be honest.
Now, add to that, not billions, but trillions.
I know Americans kind of get confused sometimes, millions, billions, trillions.
But the amount of money from, for example, on this trip that is being committed, monies to be spent in America for American manufacturing on top of the $8 trillion the president already has committed in the next four years is astounding.
It is absolutely unprecedented.
And then you look at everything else that we've been watching economically and a lot of things is, according to every single solitary indicator, we see that every prediction on the economy has been dead wrong, including, you know, it's been, what, since 2021 on the economy, we've never had, you know, lower inflation numbers than we have now.
We never had higher tariff income than we have now.
We've never had greater job growth for Americans than we have now.
The stock market, which is notoriously skittish, that has bounced back in a dramatic way.
And that then leads us to our next guest, our friend Steve Moore, economist, author of Trump and Omics, inside the American First Plan to Revive Our Economy.
I happened to be on Air Force One.
I was sitting with the president when you did a hit with David Asman.
And it was interesting.
He paid very close attention to you saying that you were a little skeptical on tariffs, but you have become a believer because the system has been so unfair.
And the president knew the power and the strength of the American economy more than, say, many other people did.
So great to be with you, Sean.
By the way, was the president watching when I said that?
Yes, he was.
He was watching every minute of it.
That's just a little backstory on that.
You know, the president was scolding me a few weeks ago saying, you're too tough on my tariffs, Steve.
And so, you know, I was a doubting Thomas.
And one of the things that Trump is a master of is proving his critics wrong.
And I was a critic.
I go on your show and I say, well, I'm uneasy about these tariffs.
But look, look at where we are today, Sean, versus where we were just even a month ago.
It's extraordinary what we're seeing.
I mean, the market is way, way up by 3,000 points.
As you mentioned, I thought that prices would go up because of the tariffs.
They didn't.
They didn't.
I was wrong.
I mean, as you said, we got the lowest tariff report in many, many years in terms of inflation.
So this is a very, very rosy picture.
I don't think we're completely out of rough waters entirely because I don't know if these countries are going to cheat or not.
That's the one thing.
I hope Trump is going to have strong enforcement on these.
Well, I think we're, but how can you say we're not out of rough waters when inflation is the coolest it's been in in four years?
You know the numbers.
You've read the lowest CPI reading since February of 2021.
Now, what happened in January of 2021?
Oh, that's right.
January 20th, Joe Biden became president.
So that February number basically was a continuation of the Trump economic policies.
And this is before those numbers.
Inflation went up over 9%.
So my only remaining skepticism is whether these deals will actually come through, whether these countries will actually honor their agreements.
I hope Donald Trump uses the Reagan maxim when he used to negotiate with Gorbachev and the Soviet Union.
Trust, but verify.
So I want to make sure these countries, because you know, China cheats.
You know that.
You know, the President Xi, we're going to have to make sure that they follow through with these deals.
If we get these $8 trillion of additional investment capital, I mean, my God, you're talking about millions and probably over 10 million jobs associated with that kind of capital investment here in the USA.
And those are going to be high-paying jobs.
I want to get all the workers to fill all those jobs.
That's a great point.
One of the things I like the most about it that I don't think enough people talk about is we are bringing back manufacturing to this country in very critical industries.
We're going to make our own semiconductor chips.
Bringing back pharmaceutical manufacturing so we're not dependent on China.
We are also dramatically bringing automotive manufacturing, again, high-paying career jobs that you're mentioning here, back to this country.
Add to that, the president is giving us most favored nation status on prescription drugs, which I think is incredible too.
So, you know, I want to make sure people understand that this didn't happen by accident.
This was the plan.
So when you reduce regulations on American companies by a trillion dollars in terms of costs, and then when you lower energy prices, gas prices, and electricity prices by producing more American energy, and then when you cut taxes, tax rates on American businesses, small and large, when you do, and then you get the economy out of the Doge and the savings, those things make America a more attractive place to invest in.
This is exactly what we saw in the last economic boom when Ronald Reagan was president.
Reagan cut taxes, deregulated.
We had all this foreign money coming in the United States.
That's exactly what's happening under Donald Trump, although probably more so.
All right, quick break.
We'll continue.
We are in Doha.
We are in Qatar as we continue our reporting on President Trump's historic first trip in his second term as president.
And incredible news coming out of the Gulf states.
More on that on the other side.
We'll get to your calls coming up.
800-941.
Sean, part two of my interview with the president tonight.
Set your DVR, 9 Eastern, Fox News, as we continue.
More with Steve Moore on the other side.
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All right, we continue now with our friend Steve Moore as we talk about incredible economic news, left, right, and sideways, especially coming out of this, the president's first trip abroad to the Gulf states.
We are in stop number two.
We are in Doha.
We are in Qatar after leaving this morning from Saudi Arabia.
And tomorrow we'll be in Abu Dhabi.
I don't think we've ever seen the level of commitment.
I do believe a lot of it's tied to national security concerns, especially in the Gulf states where I'm reporting from.
I mean, we're in Qatar today.
We're in Doha doing this program.
It's late at night, beautiful skyline.
Have you ever been here?
I was in Dubai just earlier this year.
That's not too far from where you are.
And I was an extraordinary place.
So I hope you're having a great time there.
And how cool was it?
I watched your interviews on the, was that on Air Force 1?
You were doing those interviews with the president?
Yes, sir.
Part two will air tonight.
He gave me over about 50 minutes worth of material.
We're using every bit of it.
So we decided to break it up into two nights and part two tonight.
Well, it was incredible.
And I'm jealous that you're getting to travel all those days with the president.
I mean, this is a guy who puts America first.
Every decision he makes, even when I disagree with him, sometimes, you know, I disagree with him, Sean.
But even when I disagreed with him, I thought, well, he's doing this because he loves this country.
And the other thing is, if I may, it's a big difference when you have somebody in the White House.
Just put aside ideology because, you know, obviously Biden was an ideological liberal and Trump is more ideologically conservative.
But putting ideology aside, it makes a big difference when you have somebody in the White House who's a lifelong politician like Joe Biden versus a lifelong businessman like Donald Trump.
I mean, don't you think?
100%.
Steve Moore, we appreciate you.
But the president was paying very close attention.
I was in the room at the time.
It was pretty interesting to watch.
Thank you, sir.
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When I told people I was making a podcast about Benghazi, nine times out of ten, they called me a masochist, rolled their eyes, or just asked, why?
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Will we ever get the truth about the Benghazi massacre?
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All right, part two of my interview with President Trump tonight.
Here was part one from yesterday.
We covered so much ground on a wide variety of topics.
listen that we're trying to open up china because as you know many years ago we opened up the usa now it's time for china to open up and that's part of our deal and we're going to open up china To me, that's the most exciting part.
But yeah, we made a deal.
The relationship is very good.
I've always had a good relationship with President Xi.
It was interrupted because of COVID, obviously.
But outside of that, I've always had a great relationship, a lot of respect for him.
And we'll see how that all works out.
But we have the confines of a very, very strong deal with China.
But the most exciting part of the deal, it was mentioned, but we don't talk about it yet.
That's the opening up of China to U.S. business.
And that would be like opening up a whole new world.
And I think it would be even better for China.
So I think we'll be able to make that deal, I hope.
At any point, do you foresee yourself dealing directly with President Xi on the final details of this deal?
Yeah, I could see that.
I mean, I'm not sure that it'll be necessary, but that happened with the U.K.
We were close to a deal, but we needed one point or two points on pork and ethanol.
Okay, two very different subjects.
And I called up the prime minister, who's an excellent man here, excellent man.
And within about three minutes, it was over.
We made the deal.
It was a good deal for everybody.
And we have a lot of deals now.
We have a lot of trade deals that want, I'd say, virtually everybody wants to make a deal.
When I first saw you, and thank you for letting us cover this and report on this from Air Force One.
When I first saw you, I think you were more excited, you were excited about the China deal, but prescription drugs, which has been very, very painful for a lot of Americans.
80% of medications are created in America.
And then we end up paying more for those medications.
Foreign countries do not pay as much as we do.
You said that is over.
Can you explain why this is such a big deal?
Well, for many years, we were taken advantage of by other countries and the drug companies, but I blame the other countries in a way more, the European Union, etc.
They were very nasty and very tough to the drug companies.
And they would give them a very low price for drug costs in the European nations.
And when that price was given, that was it.
They wouldn't negotiate.
They said, let America pay for the difference.
And this happened all over the world with other countries.
And we had stupid people leading us, especially over the last four years.
And they wouldn't do anything about it.
And it turned out that we were paying, and sometimes you saw 10 times more for the same drug.
Same drug, same company, same plant where they make it, laboratory.
And it got to a point where I said, we're not going to do this anymore.
The pharmaceutical industry is very powerful and probably the most powerful, considered the most powerful lobby.
And the Democrats were making it impossible to lower drug prices.
They knew what they were doing.
And I instituted a most favored nations provision or concept where we're going to pay whatever the lowest country pays in the world.
So if it's the UK, which pays very low, any country, it could be any country, whatever the lowest price is.
And the drug companies have accepted it.
Everybody accepts it.
But the Democrats never wanted to play ball.
They never wanted to do anything.
It's the Democrats' fault that people were being ripped off for years and years.
And now I hear Democrats saying, oh, well, we're going to now go for the bill.
It's going to be very hard for them not to approve the big, beautiful bill that we're doing.
We're doing the biggest tax cuts in the history of our country because people are going to be getting a 50 to a 90 percent reduction in drug prices, not a half a percent.
I remember when I would fight so hard to get a half a point, and I actually had it down a half a point for one year.
And I was so proud of myself because that never happened before.
It was always going up.
Drugs only went in one direction, that's up.
And now, after studying the industry, it's a very complex industry, but I figured it out, and I said, not going to happen.
But the Democrats fought very hard to keep the prices of drugs very, very high.
They really are to blame for this because they should have done something about it.
And when the Republicans went with requests, they said, we're not going to approve it.
And now we have a unified Republican Party.
But I think the Democrats are going to approve this bill too, because how are they going to reject a 60%, 70%, 80% drug cut?
I don't think they can.
I think it's going to be huge.
The fact that these drugs, the creation of these drugs, I mean, these companies have to go through a very arduous process to get approval by the government.
They spend billions of dollars and put aside whether or not, quote, people demonize big pharma.
That's separate and apart.
However, we usually end up creating them, and then we end up paying 10 times more, which is crazy.
Well, they used to use that, if I could interrupt, they used to use that as a reason why we were paying five and ten times more than other countries.
They said, because of research and development.
And I'd always say, well, what about you doing research and development for the rest of the world, too?
Why are we paying for 100%?
So we paid 100% for research and development, which, along with other things, believe it or not, raised the price to a point where you were five to ten times higher than the rest of the world.
And I told the story today, it was well received.
A friend of mine, who's slightly overweight, to put it mildly, went to a drugstore in London and he was able to get one of the fat shots.
I call it the fat shot, the jack, that you lose weight.
A lot of people laugh at that.
Some people get offended by it.
I don't get offended by him.
I'm just glad I didn't use his name.
He's actually a very rich guy.
He's a very successful man.
He's glad you didn't use his name.
No, no, he's very happy.
He knows exactly what I was talking about.
He called.
He said, that was interesting.
He said he was very concerned that I might use his name.
It might slip.
No, he doesn't have to worry.
But he went to London and he bought this Ozempic Logovi, one of those?
I guess.
Yeah, I'm not sure which one.
He bought one of them, maybe Ozepic.
And he bought it, and he called me.
He said, hey, a strange thing happened.
I just bought a drug.
Same company, same plant, same everything.
Everything was the same.
In one case, I paid in New York $1,300, and in London, I'm paying $88.
He said, what's going on?
Now, he knew nothing.
He's a very smart guy.
He's a very rich guy.
His big problem is he's seriously overweight.
But I don't think the drug worked, okay, to be honest with you.
But it makes him feel good anyway.
But so what happens is he just said to me, I paid $88, and in New York, I get it for $1,300 or something.
A massive difference.
And I said, that's right.
The drug laws are very screwed up, and I'm doing something about it.
He said, you better, because this is crazy.
He didn't understand it, but he didn't understand why.
And now he understands why, because he watched our news conference this morning, holding his breath, right?
But he watched his news coverage.
But think of it.
So he goes to London.
A lot of people go shopping in nearby or even faraway countries.
And they'll go away once a month or once a week or something if it's a nearby country.
They'll go right across the border and they'll buy the same drug for one-tenth the price as we pay in the United States.
And part of it is the power of the drug companies, which is a very big power.
But I think a bigger part is the ruthlessness of other nations to screw the United States of America.
And the European Union would be the top because they represent a lot of countries and they're brutal.
According to the drug companies, tell me this.
They're brutal in negotiations.
They say, this is what we're going to pay.
We're not going to pay any more.
And if you need more, you get it from America.
And so they get a low price, so we get a high price.
And I ended it.
And this has been going on for many years.
Nobody realized that you could do it.
I think I figured out the system.
Very complex chain of events take place.
And I ended it.
And I have to say, the drug companies were great.
They were great.
They said, look, it's time.
They actually look, they said, it's time.
And here is more of my exclusive interview with President Trump aboard Air Force One.
The UAE has committed $1.5 trillion, Saudi Arabia, $1 trillion.
Apparently, you had ordered a new Air Force One in your first term.
They're years behind in terms of its production.
It's a Boeing.
And when I came to office, the Obama people had ordered it, but they didn't sign yet.
So I was supposed to sign.
They were at about 5.7 trillion.
It's actually, as you know, Air Force One is actually two Boeing 747s.
And they had agreed to a price of $5.7 billion.
And through a series of little negotiations, I got it down very, very substantially by a lot.
With the new design.
Well, it's pretty much the same plane with the new paint color, if you want to know the truth.
We're painting it red, white, and blue, like the American flag, which is incredible.
Much more beautiful and much more representative of us.
So, anyway, I got the price way down by a lot and ordered it.
And when I came, I said, the plane, where's the plane?
And they said, it's late.
And I said, why would it be late?
You know, I went through a whole term and we had an election that was absolutely rigged.
And because of that, this is a much more historic presidency, I would say.
But I said, where's the plane?
And they are having difficulty.
I'm not happy with Boeing, but we're going to work on Boeing.
And Boeing's, look, Boeing's got some unbelievable people working for it.
So I'm not going to do anything bad to Boeing.
But they had a strong contract.
I wrote the contract.
It was a guaranteed price contract.
And if I wanted to, I could, you know, hurt Boeing, and I don't want to hurt Boeing.
But they are very late with the plane.
And Qatar heard about it, and he's a great leader.
And we were talking, and he said, if I can help you, let me do that.
And they had a plane, not a new plane at all, but they had a plane.
And, you know, these planes, the plane that you're on right now is almost 40 years old.
And when you land and you see Saudi Arabia and you see UAE and you see Qatar and you see all these, and they have these brand new Boeing 747s mostly, and you see ours next to it, this is like a totally different plane.
It's much smaller, it's much less impressive, as impressive as it is.
And, you know, with the United States of America, I believe that we should have the most impressive plane.
So, anyway, so they said to me, we would like to, in effect, we would like to make a gift.
You've done so many things.
And we'd like to make a gift to the Defense Department, which is where it's going.
And I said, well, that's nice.
Now, some people say, oh, you shouldn't accept gifts for the country.
My attitude is, why wouldn't I accept the gift?
We're giving to everybody else.
Why wouldn't I accept the gift?
Because it's going to be a couple of years, I think, before the Boeings are finished.
And they'll be wonderful when they're finished.
All right, we'll have part two of my interview.
That was part one that aired last night on Hannity on the Fox News channel.
We'll have part two tonight on Hannity from Doha, from Qatar.
Set you DVR, 9 Eastern on Fox.
Quick break, right back.
We'll continue on the other side straight ahead.
All right, that's going to wrap things up for today, but let not your heart be troubled.
We are loaded up.
Part two of my interview with President Trump on Air Force One.
This interview went on for about 50 minutes.
I didn't think it would go on that long.
I was grateful for the time.
Also, Tammy Bruce, we will talk about the progress.
She's working as a spokesperson for Marco Rubio at the Department of State.
The latest with what's going on here in the Gulf states, the latest what's going on with Putin and Zelensky and whether this is all going to go down tomorrow.
Aaron Cohn on Iran and the question of how America and Israel will do with the possibility of them still pursuing nuclear weapons.
Kellyanne Conway, Tommy Laron, much more.
Set you DVR, 9 Eastern.
If you're in Doha, it's 4 a.m. because that's what time we'll be doing the show.
Anyway, we'll see you tonight.
Thank you for making this show possible.
And back here, well, we won't be back here tomorrow.
We'll actually be in the UAE in Abu Dhabi and we'll broadcast live as we wrap up our trip.
What an incredible week it's been, I got to tell you.
Historic in so many ways and beneficial to our country as well.
See you tonight from Abu Dhabi tomorrow.
Thank you for making this show possible.
You want smart political talk without the meltdowns?
We got you.
I'm Carol Markowitz, and I'm Mary Catherine Hamm.
We've been around the block in media and we're doing things differently.
Normally is about real conversations.
Thoughtful, try to be funny, grounded, and no panic.
We'll keep you informed and entertained without ruining your day.
Join us every Tuesday and Thursday, normally, on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
I'm Ben Ferguson, and I'm Ted Cruz.
Three times a week, we do our podcast, Verdict with Ted Cruz.
Nationwide, we have millions of listeners.
Every Monday, Wednesday, and Friday, we break down the news and bring you behind the scenes inside the White House, inside the Senate, inside the United States Supreme Court.
And we cover the stories that you're not getting anywhere else.
We arm you with the facts to be able to know and advocate for the truth with your friends and family.
So down on Verdict with Ted Cruz now, wherever you get your podcasts.
What I told people I was making a podcast about Benghazi, nine times out of ten, they called me a masochist, rolled their eyes, or just asked, why?
Benghazi, the truth became a web of lies.
From Prologue Projects and Pushkin Industries, this is Fiasco, Benghazi.
What difference at this point does it make?
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