Episode 4478: Trump Drops Hammer On Pharmaceutical Companies

Summary

Podcast Summary: Bannon's War Room Episode 4478: Trump Drops Hammer On Pharmaceutical Companies Release Date: May 12, 2025

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1. Executive Order on Drug Pricing

a. President Trump's Landmark Announcement [00:01 - 23:56]

In a historic address, President Donald Trump unveiled a groundbreaking executive order aimed at overhauling the United States' pharmaceutical pricing system. Highlighting the need for fairness and affordability, Trump emphasized, “Starting today, the United States will no longer subsidize the healthcare of foreign countries... We will no longer tolerate profiteering and price gouging from big Pharma” (00:45).

b. Key Provisions of the Executive Order

• Most Favored Nation Pricing: The cornerstone of the order is the implementation of a "most favored nation" pricing strategy. Under this policy, the U.S. will pay the lowest price for drugs that are offered to other developed nations. Trump stated, “Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay” (22:30).

• Elimination of Middlemen: To further reduce costs, the administration will "cut out the middlemen," ensuring drugs are sold directly to consumers at the most favorable prices. “Nobody knows who they are. Middlemen... we're going to cut out the middlemen and facilitate the direct sale of drugs” (23:10).

• Tariff Adjustments: The executive order also includes significant adjustments to tariffs, particularly targeting China. Trump mentioned, “We're not even talking about that [existing tariffs].” He underscored the importance of maintaining high tariffs to protect American industries while negotiating better terms for pharmaceutical imports (37:46).

2. Support from Medical and Political Figures

a. Robert F. Kennedy Jr.'s Endorsement [23:57 - 27:50]

Robert F. Kennedy Jr., Secretary of Health and Human Services, lauded the executive order, stating, “This is an extraordinary day... We now have a president who is a man of his word, who has the courage” (23:57). He highlighted the disproportionate spending on drugs in the U.S. compared to other countries and emphasized the necessity of the new pricing strategy to foster innovation and global health improvements.

b. Dr. Mehmet Oz's Support [27:50 - 33:07]

Dr. Mehmet Oz, CMS Administrator, echoed the sentiments of fairness and affordability. “This is the most powerful executive order on pharmacy pricing and healthcare ever in the history of our nation” (27:50). He provided concrete examples of price discrepancies, such as a breast cancer drug costing Americans over $16,000 per bottle versus significantly lower prices in Australia and Sweden. Oz emphasized the transformative nature of the order, aiming to make healthcare more accessible and financially sustainable for American citizens.

3. Foreign Policy Highlights

a. Combating Fentanyl Imports from China [15:00 - 22:30]

Trump addressed the critical issue of fentanyl trafficking, attributing a significant portion of these imports to China. “We're charging them as, you know, 20% for the fact that they send fentanyl into our country” (16:45). He asserted confidence in China’s commitment to halt fentanyl supply, incentivized by the removal of hefty tariffs.

b. Strategic Trade Negotiations [33:08 - 38:06]

The administration's approach to trade with major nations like Saudi Arabia, UAE, and Qatar was discussed. Trump highlighted ongoing negotiations to secure favorable terms that benefit American industries while fostering strong international alliances. “They want Iran to be wealthy and wonderful and happy and great, but they can’t have a nuclear weapon” (40:00).

c. Russia-Ukraine Peace Talks [42:01 - 50:50]

Trump expressed optimism about the impending peace talks between Russia and Ukraine, hosted in Turkey. “I think you have the potential for a good meeting... We're working very hard to see if we can end that bloodbath” (44:11). He underscored the humanitarian imperative to end the ongoing conflict and the tragic loss of human lives.

4. Press Q&A Session

a. Trade and Tariff Policies [37:32 - 45:58]

Press reporters inquired about the future of tariffs, especially concerning long-term deals with China. Trump affirmed that without progress, tariffs could escalate beyond the current 145%, potentially decoupling trade relations further. When questioned about Qatar's luxury jumbo jet offer, Trump defended the gesture as a strategic move to modernize U.S. Air Force capabilities, likening it to past presidential practices (38:18).

b. Humanitarian Actions and Refugee Policies [46:29 - 48:13]

Questions regarding the expedited path for South African refugees were addressed by Trump, who underscored the administration's commitment to humanitarian efforts. “We've essentially extended citizenship to those people to escape from that violence and come here” (46:36).

c. Addressing Critiques from the Media [51:40 - 53:55]

Facing skepticism about the luxury jet gift from Qatar, Trump dismissed media criticisms, asserting the gesture was beneficial for national security and defense modernization. “It's a gift to the Department of Defense... It's a great gesture” (52:59).

5. Hosts' Discussion and Analysis

a. Strategic Decoupling and Economic Impact [59:57 - 73:05]

Hosts Jason Miller and the press reporter delved into the broader implications of Trump's policies, particularly the strategic decoupling from China. They discussed the anticipated shift of manufacturing jobs back to the U.S. and the potential economic revitalization. “This is how you bring down the cost of entitlements by going and having smart... reforms” (70:26). The conversation highlighted the expected growth in American industries such as semiconductors and automotive manufacturing, bolstered by favorable trade deals and reduced tariffs.

b. Future Prospects and Challenges [73:05 - 77:31]

The hosts reflected on the constitutional challenges posed by the current judicial environment and the importance of resolving legislative issues like the debt ceiling. They emphasized the transformative nature of Trump's policies and the administration's focus on foundational economic reforms to ensure long-term sustainability and growth.

6. Conclusion and Forward Look

President Trump concluded the episode by reiterating the administration's commitment to fairness in healthcare, robust trade policies, and national security. He emphasized the positive market response and the significant investments already committed to revitalizing American industries. “It's a very exciting time in America” (45:51).

Hosts and participants expressed optimism about the transformative policies introduced, anticipating substantial benefits for American consumers, industries, and the overall economy. The episode underscored a pivotal moment in U.S. policy, marking a decisive move towards more equitable healthcare costs and reinforced economic independence from foreign dependencies.

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Notable Quotes with Speaker Attribution and Timestamps:

• Donald Trump [00:45]: “We're not going to tolerate profiteering and price gouging from big Pharma.”

• Donald Trump [22:30]: “Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay.”

• Robert F. Kennedy Jr. [23:57]: “We now have a president who is a man of his word, who has the courage.”

• Dr. Mehmet Oz [27:50]: “This is the most powerful executive order on pharmacy pricing and healthcare ever in the history of our nation.”

• Donald Trump [37:46]: “No, but they would go up substantially higher…they go substantially higher.”

• Donald Trump [52:59]: “It's a gift to the Department of Defense... It's a great gesture.”

• President Trump [45:51]: “It's a very exciting time in America.”

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Note: This summary focuses exclusively on the substantive content of the episode, excluding advertisements, intros, outros, and non-content segments to provide a clear and comprehensive overview of the key discussions and policy announcements.

Transcript

[Donald Trump]

A good dealmaker had a special way about him, and it was. Steve knew very little about the subject matter. Who does? But he learned it in about two hours, and he's been fantastic. So I want to just thank Steve. But they're going to be releasing Edan in about two hours from now, or sometime today, let's say. And again, they thought he was dead just a short while ago. His parents are so happy. They're so happy. So it's. As you know, Eden's the only American citizen who's captured and held hostage by Hamas since October 7, 2023. And he's coming home to his parents, which is really great news. I mean, to me, it's big news. They thought he was dead, so that's that. So we'll be heading there and we'll be seeing three primary countries. You know all about that. Saudi Arabia, uae, Qatar. On Thursday's meeting with Russia and Ukraine is very important. I was. I was very insistent that that meeting take place. I think good things can come out of that meeting. Stop the bloodshed of the horrible. It's a bloodbath. But 5,000 more, it's really much more. Trying to be conservative. More than 5,000 soldiers, Russian. They're not American soldiers, they're from Russia, they're from Ukraine. But they're people, they're human souls. And they're being killed at levels that we haven't seen since the Second World War. And it's every week, a lot of drone fighting. It's a whole new form of warfare, and it's violent and vicious and so that's it. I'd like to go back to China just for a second. They're very heavy on the fentanyl. We're charging them as, you know, 20% for the fact that they send fentanyl into our country. And they've agreed that they're going to stop that. And, you know, they'll be rewarded by not having to pay, you know, hundreds of billions of dollars in tariffs. So the fentanyl should stop. It comes from China. It's amazing. And comes through our southern border. Comes through our northern border, too. Comes through Canada and comes through our southern border. More through much more through the southern border. But. So that's a very important subject to me because I've. Everybody in this room has lost friends or people that have family members that have died of fentanyl. So there's a big incentive for China to stop. And I take them at their word. They're going to work on that, I think very hard and one thing, when they work on something, they get it done. So now I'm about to depart on a historic visit. Some of you are going with us to, as I said, Saudi Arabia, Qatar and United Arab Emirates. Before I do, I'll sign one of the most consequential executive orders in our country's history. I don't think there's ever been anything signed like this, certainly not with respect to healthcare. Nothing even close. I'm delighted to be joined on this occasion by Secretary of Health and Human Services Robert F. Kennedy Jr. Who is doing a really good job. I have to tell you that CMS administrator and friend of mine, Dr. Mehmet Oz, who is a. An amazing guy. You know, I was telling Bobby before, Oz had a very successful show, but it hurt his reputation because when you're in show business, it hurts your reputation a little bit. It's good for you, it's good for you. But in terms of professionalism and being a doctor, it sort of hurts your reputation. This guy went to the best schools, was the best. I mean, top, top, top of the line. Then he did a television show, became a success, made a lot of money, all that stuff, but it sort of hurt him. And you know who I compare that to? I hate to say this, but a special woman, Jeanine Pirro. She was the toughest, smartest DA maybe in our countries, in our. In our cities and states, history, New York. She was really tough, really sharp. Then she did a show and people didn't think of her quite the same way. Became more of an entertainment person like us. Ozzie's not an entertainer. He's not really an entertainer. You know the real story, and she isn't either. She is unbelievable. She was one of the strongest district attorneys in the history of New York. Highly respected, very tough. Went after the drug dealers at a level that you don't see today anymore. And hopefully she's going to be. She's given up a tremendous. She's leaving the number one show on cable television, one of the number one shows on television, period, the Five. But they've got great people left behind. But she was a big part of it. And so I equated to that. Jeanine Pirro is unbelievable. FDA Commissioner Dr. Marty Makary, with a reputation that's second to none. And the job he's doing already has been fantastic. Thank you, Marty. And director of National Institute of Health, Jay Bar Bhattacharya, who has been, as you know, from Stanford, so highly regarded and have all been working with us very hard on this. And the question they would ask, being a little bit new to the government aspect of it, is why hasn't, why doesn't somebody fight the drug price situation, meaning equalization. There's a term, it's called equalization. Nobody wants to mention that term. And I'm not knocking the drug companies, I'm really more knocking the countries than the drug companies because they're forced to do things. But the drug lobby is the strongest lobby in this country. They say the drug lobby, it's between that and lawyers and they have a lot of power. But starting today, the United States will no longer subsidize the healthcare of foreign countries, which is what we were doing. We're subsidizing others health care countries where they paid a small fraction of what for the same drug that what we pay many, many times more for. And we'll no longer tolerate profiteering and price gouging from big Pharma. But again, it was really the countries that forced big pharma to do things that frankly, I'm not sure they really felt comfortable doing. But they've gotten away with it. These countries. European Union has been brutal, brutal. And the drug companies actually told me stories. It was just brutal how they forced them. And European Union suing all our companies, Apple, Google, Meta, they're suing all of our companies. They end up, they have judges that are European Union centric and they get rewarded. 15 billion, 17 billion, 20 billion. And they use that to run their operation. Not going to happen any longer, that I can tell you. So 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. I mean, I'll tell you a story. A friend of mine who's a businessman, very, very, very top guy, most of you would have heard of him. Highly neurotic, brilliant businessman, seriously overweight. And he takes the fat, the fat shot drug. And he called me up and he said president. He calls me, he used to call me Donald, now he calls me president. So that's nice, respect. But he's a rough guy, smart guy, very successful, very rich. I wouldn't even know how we would know this, but because he's got comments. President, could I ask you a question? What? I'm in London and I just paid for this damn fat drug I take. I said, it's not working. He said, he said, I just paid $88 and in New York I paid $1,300. What the hell is going on. He said, so I checked and it's the same box, made in the same plant by the same company. It's the identical pill that I buy in New York. And here I'm paying $88 in London. In New York, I'm paying $1,300. Now, this is a great businessman, so. But he's not familiar with this crazy situation that we have. But he was stunned. But it was just one of those stories. And I, I brought it up with the drug companies represented by somebody who's very, very smart, good person, too. And we argued about it for about half hour. And then finally he just said, because they can't justify it. He just said, look, you got me. You got me. I can no longer just. They've been, they've been justifying this crap for years. They said, oh, it's research and development. I said, well, research and development. Other countries should pay research and development, too. It's for their benefit. It was just one of those things. And the other countries would set a price and they'd meet the price and they'd say, if you don't meet the price, you can't sell it in our country. I said, well, then you walk away and, you know, they'll call you back and they'll sell it in the country. But now they'll have to do that. 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, 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%. 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%. 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, to these countries that have been so tough. They've been very tough. They nasty. It's trade. It's trade. And pharma is also very powerful. And the Democrats have protected pharma. The Democrats this is. The Democrats have protected pharma. These are the Democrats. And by the way, I just called the speaker of the House and I just called the leader. Our leader in the Senate, John Thune, Mike Johnson spoke to both of them. I said, when you score, you're going to have to score two things. You're going to have to, number one, score that hundreds of billions of dollars of tariff money is coming in. But even bigger than that, you're going to have to score that your cost for Medicaid and Medicare and just basically pharmaceuticals and drugs is going down at a level that nobody has ever seen before. It'll pay for the golden dome. I see. The golden dome is there. See, that will easily pay for the golden dome. And we'll have a lot of money left over. We need the golden dome. By the way, in this world, although this world is a lot safer today than it was a week ago and a lot safer than it was six months ago, we had people that had no clue what they were doing. So Today, Americans spend 70% more for prescription drugs than we spent in the year 2000. Think of that. Our country has the highest drug prices anywhere in the world by sometimes a factor of 5, 6, 7, 8 times. It's not like they're slightly higher. They're 6, 7, 8 times. There are even cases of 10 times higher so that you go 10 times more expensive for the same drug. That's big numbers. Even though the United States is home to only 4% of the world's population, pharmaceutical companies make more than two thirds of their profits in America. So think of that. With 4% of the population, the pharmaceutical companies make most of their money, most of their profits from America. That's not a good thing now, I think, by the way, pharmaceutical. I have great respect for these companies and for the people that run them. I really do. And I think they did one of the greatest jobs in history for their company, convincing people for many years that this was a fair system. Never. Nobody really understood why. But I figured it out. For years, pharmaceutical and drug companies have said that research and development costs were what they are, and for no reason whatsoever. They had to be borne by America alone. Not anymore, they don't. This means American patients were effectively subsidizing socialist healthcare systems. In Germany, in all parts of the European Union, they were the toughest of all. They were nasty. And I see that. I see that with trade, too. European Union is in many ways nastier than China. Okay. And we've just started with them. Oh, they'll come Down a lot. You watch. We have all the cards. They treated us very unfairly. They sell us 13 million cars. We sell them none. They sell us their agricultural products. We sell them virtually none. They don't take our products. That gives us all the cards. And very unfair. So they're going to have to pay more for healthcare and we're going to have to pay less. That's all it is. And believe it or not, you know, because it's really the world we're talking about, not just the European Union, but because it's the world. The numbers are. The numbers are for the health care company. Not as bad as you would think. They'll make the same. I think the health care companies should make pretty much the same money. I really don't believe they're going to. They should be affected very much because it's just a redistribution of wealth. It's a redistribution where it could be the same top line, but it's going to be distributed differently. Europe's going to have to pay a little bit more. The rest of the world is going to have to pay a little bit more, and America is going to pay a lot less again because we. It's a much smaller population than when you think of the whole world. So basically what we're doing is equalizing. There's a new word that I came up with, which I think is probably the best word. We're going to equalize where we're all going to pay the same. We're going to pay what Europe is going to pay. We're going to all pay. Now, there may be some countries in dire need, and I would be willing to sacrifice that and help them, but it's called most favored nation. We are going to pay the lowest price there is in the world. We will get whoever is paying the lowest price. That's the price that we're going to get. So remember that. So we're no longer paying 10 times more than another country. Whoever is paying the lowest price, we will look at that price and we will say that's the price we're going to pay. Most favored nations. That's what it is. One breast cancer drug costs Americans over $16,000 per bottle. But the same drug from the same factory, manufactured by the same company, is 1/6 that price in Australia and one tenth that price in Sweden. 1/10 for the identical product. A common asthma drug costs almost $500 here in America, but costs less than $40 in the United Kingdom. So $40 in the United Kingdom, which is where this gentleman told Me, he paid a small amount for his shot. But think of that. So $40 versus $500 here. That's not even better. Much worse. Examples. And the weight loss drug ozempic cost 10 times more in the United States than in the rest of the developed world. Ten times more. Why? Why? What did we do? Suckers. But we never had a president that had the courage to do this. And nobody knew the system like I do. I mean, I've gotten to know this system so well and I don't think it's fair that it benefits Obamacare. Obamacare is a failure. It's not a good. It's not a good healthcare. It works. I made it work. I had an obligation to make it work or an obligation to let it die. I chose that. We had to make it work. I had to make it as good as possible. And I had a choice. I could have let it fail or make it as good as possible. As good as possible means it was still not very good. But it was. It survived and we did the right thing. But this makes it. This makes everything work. And I don't want to have a bad form of healthcare work because of the fact I was able to cut drug prices by 80 or 90%. So we're going to maybe come up with something. I think this gives the Republicans a chance to actually do a healthcare that's much better than Obamacare and for less money, which, if you guys would work on that along with Congress. But I do want to say that Democrats could have done this a long time ago. They have fought like hell for the drug companies and they knew they were doing the wrong thing. And it's going to be very hard. I was just telling the leader and the speaker that how.it's going to be very hard for the Democrats to vote against the one big beautiful deal. The greatest tax cuts in history, greatest everything. But now you have the big drug prices because that's going to be included. It makes that whole situation different from a scoring standpoint. I just told them, I called them up about this. I said, I'm going to do something that's going to be very monumental and you're going to be scoring. You better tell your people that this is going to score really well and then add hundreds of billions of dollars in tariffs to your list also. But as big as the tariffs are, this is something that really hits quickly. Five years ago, I signed an executive order to confront this disaster, but only confronted in a minor way. It was a good confrontation, but never to this extent took People a little while to understand a very complicated system. But Joe Biden, without any knowledge of what he was doing, terminated the policy and then pretended to negotiate under a new system. And then you take a look. Five out of the 10 drugs that he negotiated are now over 200% more expensive in America than the rest of the world. And far more expensive than when he even got involved. Much more expensive than when he got involved. Joe Biden's plan was a. As you know, because you wrote about it, you don't say it very loudly, but it was a very big failure, was his whole presidency first. I'm directing the US Trade representatives and Department of Commerce to begin investigations into foreign nations that extort drug companies by blocking their products unless they accept bottom line and very low dollar amounts for their product, unfairly shifting the cost burden onto American patients. And we'll be taking a look at that very strongly. The biggest thing we're going to do is we're going to tell those countries, like those represented by the European Union, that, you know, that game is up. Sorry. And if they want to get cute, then they don't have to sell cars into the United States anymore. It's a very big subject. And they won't get cured because I'll defend the drug companies from that standpoint. They were given a price by the European Unions and other countries. This is what you do. This is what we're going to pay. We're not going to pay anymore. Let America pay the difference because it was a big shortfall. Let America pay it. And that's what we did. But we're not doing it anymore. Next, my administration will secure what we're calling most favored nations, drug pricing. The principle is simple. Whatever the lowest price paid for a drug in other developed countries, that is the price that Americans will pay. And we're using the term other developed countries because there are some countries that need some additional help. And that's fine. I think that's very good. Some prescription drug and pharmaceutical prices will be reduced almost immediately by 50 to 80 to 90%. Big Pharma will either abide by this principle voluntarily or will use the power of the federal government to ensure that we are paying the same price as other countries. To accelerate these price restrictions and reductions, my administration will also cut out the middlemen. We're going to totally cut out the famous middlemen. Nobody knows who they are. Middlemen. I've been hearing the term for 25 years. Middlemen. I don't know who they are, but they're rich. That I Can tell you we're going to cut out the middlemen and facilitate the direct sale of drugs at the most favored nation price directly to the American citizen. So we're cutting out. Bobby, the middlemen. It's so important, right? You got to do that. They're worse than the drug companies. They don't even make a product. And they make a fortune because it's very smart business people, that I can tell you. If companies make no significant progress toward most favored nation pricing, which we will insist that they do, I think I'm wasting time talking about it. We're going to insist upon it, and we'll insist. And we're going to help the drug companies with the other nations because those other nations do a lot of trading with us. They need our trade just like China needed us very badly. They need us just as badly. We will do whatever we have to with trade, just like we did some great things with trade with India and Pakistan. Really helped the situation. Very heated situation. Could have lost millions of people. More than millions. I mean, many millions of people. And they want to do business with America. But we never used our powers that way. We never knew how. We never had people that knew how to do that. We'll also open up America's market to safe and legal imports of affordable drugs from other countries, putting dramatic downward pressure on prices. And if necessary, we'll investigate the drug companies and we'll in particular investigate the countries that are doing this, and we will add it onto the price that we charge them for doing business in America. In other words, we'll add it on to tariffs. If they don't do what is right, which is everybody should equalize. Everybody should say, pay the same price. And special interests may not like this very much, but the American people will. I mean, I am doing this for the American people. I'm doing this against the most powerful lobby in the world, probably the drug lobby, drug and pharmaceutical lobby. But it's one of the most important orders, I think, that's ever been signed, certainly with regard to healthcare or health in the history of our country. And it's an honor to be a part of it. And I'd like to ask Robert F. Kennedy to say a few words, please. Thank you.

[Robert F. Kennedy Jr.]

Thank you, Mr. President. This is. This is an extraordinary day. This is an issue that. You know, I grew up in the Democratic Party, and every major democratic leader for 20 years been making this promise to the American people. This was the fulcrum of Bernie Sanders runs for presidency, that he was going to eliminate this discrepancy between Europe and the United States. As it turns out, none of them were doing it. It's one of these promises that politicians make to their constituents, knowing that they'll never have to do it. And the reason they'll never have to do it is because they know that Congress is controlled in so many ways by the pharmaceutical industry. There's at least one pharmaceutical lobbyist for every congressman, every senator on Capitol Hill, and every member of the Supreme Court. Some estimates, three pharmaceutical companies. The industry itself spends three times what the next largest lobbyist spends on lobbying. So this was an issue that people talked about, but nobody wanted to do anything because it was radioactive. You couldn't get it by Congress. We now have a president who is a man of his word, who has the courage. President Trump was taking money from the pharmaceutical industry, too. I think they gave you $100 million. But he can't be bought, unlike most of the politicians in this country. And he is standing here for the American people. I don't know what. You know, there's writers like Lord Elizabeth Warren or Robert Reich who are saying that President Trump is on this side of the oligarchs. There has never been a president more willing to stand up to the oligarchs than President Donald Trump. I'm very, very proud of you, Mr. President, for your courage, I'll say, because I don't want to be crude. Your intestinal fortitude, your stiff spine, and your willingness to stand up for the American people. We have 4.2% of the world's population. Our country represents 75% of the revenues for pharmaceutical companies. We spend in our country $1,126 per capita on drugs. In Britain, they spend about 240. They spend one fifth of what we do. And this is true across Europe and the drug companies. Europeans, if you ask them, it made no sense what they were saying. America has to pay for this innovation or it's not going to happen. President Trump is saying to our European partners is, you got to raise the amount that you're paying for those drugs and pay for your share of the innovation that the United States is no longer subsidizing. That if the Europeans raise the price of their drugs by just 20%, that is $10 trillion that can be spent on innovation. And the health of all people, all across the globe is going to increase because we're going to have better products. So I'm just so grateful to be here today. I never thought that this would happen in my lifetime. I have a couple of Kids who are Democrats are big Bernie Sanders fans. And when I told them that this was going to happen, they had tears in their eyes because they thought this is never going to happen in our lifetime. And we finally have a president who's willing to stand up for the American people. Thank you. And Dr. Oz.

[Dr. Mehmet Oz]

Thank you, Secretary Kennedy. This is the most powerful executive order on pharmacy pricing and health care ever in the history of our nation. And it's only happening because we have a president with the fortitude, the guts to stand up to the withering criticism and lobbying that's going to occur as soon as folks hear about the executive order. So on behalf of the child in Philadelphia who's got an autoimmune disease with $1,000 a month drug, or the older woman in Los Angeles who's on a blood thinner who can't afford her copay, I want to thank President Trump. God bless you for having the guts to take on this industry. Thank you, sir.

[Donald Trump]

Thank you very much.

[Dr. Mehmet Oz]

So let's talk about the details a little bit. And this is primarily about equalization. As President Trump said, it's about fairness. Think of NATO as a metaphor. When President Trump said, you've got to pay a little more, so it makes sense for all of us. They came up and the European countries contributed the same thing we believe will happen in this situation. Most people who have thought about this process agree that it is patently unfair to tolerate the numbers that Secretary Kennedy and President Trump have reflected to you. On this chart to my left is a list of the 10 drugs that were negotiated in the IRA. Again, this is the bill, the law that regulates a negotiation process. This is the best price that was able to be obtained by the Biden administration. And if you look at these numbers, they actually reflect how much on top of the most favored nation price was being paid by the United States. So the closest to me, Bob, you can point to The Jardiance closest one, 289%. The one that's closest to you. That means that we are paying in America four times more than that drug costs in other countries. Again, 100% is the baseline. It's 289% above that baseline. It goes all the way down to when we're paying 50% more than any other country. That's the range. As was pointed out by President Trump, half the time we're paying three times more than is paid in other countries. It doesn't make any sense for the system that stated President Trump has over and over again indicated and Secretary Kennedy, as reflected as well. We want innovation. We want our technology partners doing the best they can to make the best solutions for drugs that cure as many people in America and around the world as possible. By getting our allies to pay a bit more, as they should be, and they should have for many years been doing, will course correct a problem that's gotten out of hand. And by doing that in a thoughtful, effective way, we're going to be able to get the pharmaceutical industry whole. Those jobs will still be here, will still be productive. We'll still be curing cancer and a slew of other ailments that plague humanity. America will still be the leader in this space, but we're paying the appropriate amount, the right sized amount, for those tasks. So over the next 30 days, the four of us up here together with people standing in the back of this room, we're doing a lot of the heavy lifting, are going to be approaching pharmaceutical companies to talk specifically about what we want the most favored nation price to be based on the best data we have. We're looking forward to a thoughtful interaction with these corporate leaders, many of whom we've spoken to and in quiet, will agree the system is not right the way it is. They're patriotic Americans. They want what's right. But the fact that in my lifetime, as Secretary Kennedy said for the first time, we have a thoughtful and aggressive approach, thanks to President Trump on taking on these special interests. I should give all Americans confidence that this is an administration that stands for fairness and it should chill the waters for those who believe they can push us away from our North Star, which is to take care of the American people. Mr. President, God bless you.

[Donald Trump]

Thank you.

[Dr. Mehmet Oz]

Jay, you want to go next?

[Donald Trump]

So I teach economics at Stanford, as well as health policy.

[Dr. Mehmet Oz]

And one thing that's really, really simple in economics is that when you have.

[Donald Trump]

A persistent price difference for the same.

[Dr. Mehmet Oz]

Product between two countries, there is something deeply wrong.

[Donald Trump]

And what President Trump has done is.

[Dr. Mehmet Oz]

A historic measure that should have been.

[Donald Trump]

Done a long time ago.

[Dr. Mehmet Oz]

What we're going to do is make.

[Donald Trump]

Sure that those prices become much closer to equal, like a competitive market you'd expect right now. What's happening is the American people are subsidizing in a large fraction the research.

[Dr. Mehmet Oz]

And development efforts for drug companies around.

[Donald Trump]

The world by the higher prices that we pay. With this new order, Europe will share the burden of that. And in fact, if you may think of it as like, somehow it's like it's going after drug companies. Actually, it's helping drug companies because what we're Also going to do with this order. What President Trump has done with this order is he's said to European governments.

[Dr. Mehmet Oz]

Look, if you are taking advantage of.

[Donald Trump]

The drug companies by forcing them to charge very, very low prices, we're going to defend American drug companies in Europe.

[Dr. Mehmet Oz]

At the same time, we're standing up.

[Donald Trump]

For the American consumer who's been paying far too high prices for far too long. I can go back decades to point to congressional reports after a government report after government report of tremendously high drug.

[Dr. Mehmet Oz]

Prices, much higher than the rest of.

[Donald Trump]

The world, and nothing has been done.

[Dr. Mehmet Oz]

About it until this moment.

[Donald Trump]

And I'm really, really proud, President Trump, that you've done this, and I'm really proud to be included in this and.

[Dr. Mehmet Oz]

Looking forward to the work ahead.

[Donald Trump]

Thank you, jay. Thank you, Mr. President. On behalf of the many doctors I've talked to about this very issue, thank you for taking the bull by the horns. Presidents on both sides of the aisle have talked about this and floated it and said they've wanted to do it. So you've had the courage to do it. Thank you. I've been a surgical oncologist at Johns Hopkins for 22 years, and I have seen patients suffer. We didn't take an oath to heal patients and then watch their life get ruined financially with their home mortgage retirement going down the drain with GoFundMe campaigns raising money from church communities and synagogues and friends they haven't seen in 20 years to try to raise money for what? For a system where Americans have been getting ripped off by 10, 12, 15 times higher prices than we see in other countries. The fundamental problem in healthcare is that we've had non competitive markets. We can do little things around the edges, or we can transform those markets to competitive markets. And that's what this executive order does today. Imagine buying a Ford for $175,000, a regular car, and then hearing that people in London are buying it for $10,000 every day, all day long. That is the craziness of this system. We're going to do everything we can at the FDA to support this executive order. It's transformative. Thank you, Mr. President. Thank you. Thank you very much. So thank you very much, everybody. It's. I think it's a very important day in many ways. We'll start with the Houthis. We go to Pakistan and India. We go to what we did with China, the trade deal, and with UK and, and by the way, many other deals are coming in very much at a certain point, we'll just set the Price, because we know where we are, but we'll just set the price. But world trade is going to be terrific and our country is going to be making a lot of money. Taxes are going to go down. Taxes are going to go down very, very substantially. But you look at all of the things that we've done, and now today I'm heading over, we'll see what we're going to do. With respect to Iran, I think you have very good things happening there, too, by the way, I think can't have a nuclear weapon, but I think that they are talking intelligently. We're in the midst of talking to them, and they're right now acting very intelligent. We want Iran to be wealthy and wonderful and happy and great, but they can't have a nuclear weapon. It's very simple. So I think they understand that we mean that. I mean business, and they. I think they're being very reasonable thus far. And don't underestimate Thursday in Turkey. President Erdogan is going to be a great host and we are doing some work with him having to do with Syria, too, by the way. We're going to have to make a decision on the sanctions, which we may very well relieve. We may take them off of Syria because we want to give them a fresh start. But President Erdogan has asked me about that. Many people have asked me about that, because the way we have them sanctioned, it doesn't really give him much of a start. So we want to see if we can help them out, so we'll make that determination. But I think you're going to have maybe a good meeting. You have the potential for a good meeting. That a meeting wasn't going to take place. I insisted that that meeting take place, and it is taking place. And I think you may have a good result out of the Thursday meeting in Turkey between Russia and Ukraine. And I believe the two leaders were going to be there. I was thinking about flying over. I don't know where I'm going to be on Thursday. I've got so many meetings, but I was thinking about actually flying over there. There's a possibility of it, I guess, if I think things can happen. But we got to get it done. We got to save 5,000 lives a week. 5,000 lives are really more than that. It's worse than that. And when you see the. And you don't want to see it, but when you see the satellite photographs of the battlefield with arms and legs and heads all over the place, separated by 30 yards from bodies, it's not, doesn't make sense. Doesn't make sense. So we're working very hard to see if we can end that bloodbath. Okay. There shouldn't be too many questions. It's been covered pretty well.

[Press Reporter]

Mr. President, thank you for taking questions. Two quick ones for you starting on trade. If a longer term deal is not reached with China at the end of these 90 days, can the American people expect those tariffs to go back up to 145%?

[Donald Trump]

No, but they would go up substantially higher. You know, at 145, you're really decoupling because nobody's going to buy. But they can go. They got very high because of additional tariffs I applied during the course because of fentanyl and other things, but no, but they go substantially higher.

[Press Reporter]

And then on Qatar, Mr. President, I.

[Donald Trump]

Think you will have a deal, however.

[Press Reporter]

Okay, you're confident that there will be a deal on Qatar? Has Qatar asked for anything in exchange for that $400 million luxury jumbo jet? And how can the American people be so sure that they will not in the future?

[Donald Trump]

Well, I think what happens with the plane is that, you know, we're very disappointed that it's taking Boeing so long to build a new Air Force One. You know, we have an Air force one that's 40 years old. And if you take a look at that compared to the new plane of the equivalent, you know, stature at the time, it's not even the same ballgame. You look at some of the Arab countries and the planes they have parked alongside of the United States of America plane, it's like from a different planet. And it's close to 40 years old. Might be more than 40 years old now. And we, when I first came in, I signed an order to get it built. I took it over from the Obama administration. They had originally agreed. I got the price down much lower. And then when the election didn't exactly work out the way that it should have, a lot of work was not done on the plane because a lot of people didn't know. They made change orders that were so stupid, so ridiculous. And it ended up being a total mess, a real mess. And when I came back, I said, by the way, what's going on with the Boeings that are coming in? Well, sir, they're way behind and they are, they're way behind. They were way behind. Another mess that I inherited from Biden. And it's going to be a while before we get them. And I think Qatar, who has really, we've helped them a lot over the years in Terms of security and safety. I felt they, I think they end very, very nicely. And I have a lot of respect for the leadership and for the leader, Qatar. And I think they very, they knew about it because they buy Boeings, they buy a lot of Boeings and they knew about it and they said we would like to do something and if we can get a 747 as a contribution to our defense Department to use during a couple of years while they're building the other ones, I think that was a very nice gesture. Now I could be a stupid person and say, oh no, we don't want a free plane. We give free things out, we'll take one too and it helps us out because again we're talking about we have 40 year old aircraft. The money we spend, the maintenance we spend on those planes to keep them tippy top is astronomical. You wouldn't even believe it. So I think it's a great gesture from Qatar. I appreciate it very much. I would never be one to turn down that kind of an offer. I mean I could be a stupid person, say no, we don't want a free, very expensive airplane. But it was, I thought it was a great gesture and I think it was a gesture because of the fact that we have helped and continue to, we will, we will continue to all of those countries. Saudi Arabia, the uae, Qatar and others. We keep them safe. If it wasn't for us, they probably wouldn't exist right now. And I think this was just a gesture of good faith. And I don't get it. Someday it'll be like Ronald Reagan, they decommission them. You know, they get to a certain age, they decommission them. It'll go to my library. They're talking about going to my library in years out. But I thought it was a great gesture and it's something that was done by Ronald Reagan. They actually decommissioned the plane and he put it in his library and it actually has made the library, I think a Boeing 707, it's actually made the library more successful. So it was good.

[Press Reporter]

Do you plan to use the plane after you leave office?

[Donald Trump]

No, I don't. No, it would go directly to the library after I leave office. I wouldn't be using it, no.

[Press Reporter]

Mr. President, on the hostage, you said that the release of the American hostage Adam Alexander is a step in good faith to end this war.

[Donald Trump]

Do you expect any progress, perhaps announcement on ceasefire during your trip to the Middle East? We hope that we're going to have other hostages released too, as you know. So When I met with the hostages three weeks ago that were there for quite a while. You remember the 10 people that came in, mostly young people. One or two were a little bit older. They went. They were explaining the trials and tribulations. I mean, they went through hell. And I said, how many are there? They said, 59. I said, that's a lot. I didn't realize because we got a lot out. You know, we got a lot of hostages out. I think you will acknowledge they said 59. But then they said. They followed that up by saying 59, of which 24 are living, the rest are dead. But the people whose son. Mostly son, I think one daughter in this case, but mostly sons are there or husbands are there. Those people want the dead bodies as much as they want the live body. I was. I have a mother that calls me, but came up to me when I first met her, and she said, sir, please, please get my son out. He's dead, but they have his body. And I asked her about that. And it's as though he were alive. The level of wanting that body back is the same. It couldn't be any more as though he were alive. So, you know, getting the bodies back is very important. That could be a. A thing having to do with the religion it could be sent. I was. I was amazed at the level of importance. It's the same as if the son or husband or whatever was alive. So they said 59. In fact, they came out. They came in with a number 59 written out on like a sign on their chest. They came to thank me for getting them out. And I said, what does the 59 mean? They said, well, that means there are 59 people. But then they said, But 24 are living. Now it's 21. The number is 21. So now it's actually, well, we'll get Etan today. We think we're getting him today. So it's 20. So they have 20 live hostages there. The rest are dead bodies. Mr. President, are you open to negotiating.

[Press Reporter]

Your tariffs on cars, steel and aluminum with China or any other country?

[Donald Trump]

Well, we're not even talking about that. We're bringing the car back business back into this country. We have commitments. And not only commitments, they've already started construction on many plants. They've left Mexico in a few cases. In a few cases, they've left Canada. They're not going to build in Canada. They're going to build here because we have the market. And the tariffs have been amazing. The election and the tariffs. November 5th was a big day. And on top of that, of course, you wouldn't have the tariffs without the election, I guess, if you look at it. But we have at least 11 committed massive car factories that are going to be built, that are going to be, that are in the process of being built. And some are going, some have actually started. We also have renovations of existing factories where they weren't utilizing the full factory from years gone by, and now they're under full renovation. They'll be opening up full factories in a very short period of time. Our car industry is, I think we're going to have the number one industry. You know, if you look at Japan and these others, they, they do tremendously with cars. And, and they can do that, too. They. But, you know, when they, if they want to sell cars in the United States, they're going to have to build factories in the United States, because I'm interested in cars for the United States. And one other thing is in our tax bill, we're giving not only no tax on tips, no tax on Social Security, no tax on overtime, but also we're going to get a deduction for people that borrow money to buy a car. If, if it's made in America. If it's not, we have no interest.

[Press Reporter]

Meeting with, between President Putin as well as President Zelensky. If President Putin doesn't show up to these talks in person in Turkey, will.

[Donald Trump]

You join Europe in putting higher sanctions on. If I felt it would be important toward getting the deal done, I'm the one that insisted on the meeting. They couldn't get a meeting because one said cease fire, one said no ceasefire was going back and forth. I said, look, at this point, we got to stop it. Just go to the meeting. The meeting has been set. Go to the meeting on Thursday. And if I thought it would be helpful, I don't know where I'm going to be at that particular point. I'll be someplace in the Middle East. But I would fly there if I thought it would be helpful. Yeah, please. Sean. Refugees.

[Press Reporter]

I want to ask you about South African refugees.

[Jason Miller]

Dozens of Afrikaans Afrikaners who claim discrimination.

[Press Reporter]

In their home country are heading to.

[Donald Trump]

The United States where your administration is going to welcome them as refugees. Now, this comes as you've halted virtually all refugee admissions for people fleeing famine and war from countries like Sudan and the Democratic Republic of the Congo. Why are you creating an expedited path into the country for Afghaners but not others? Because they're being killed and we don't want to see people be killed. Now, South Africa Leadership is coming to see me. I understand. Sometime next week. And you know, we're supposed to have a. I guess a G20 meeting there or something, but we're having a G20 meeting. I don't know how we can go unless that situation's taken care of. But it's a genocide that's taking place that you people don't want to write about. But it's a terrible thing that's taking place. And farmers are being killed. They happen to be white, but whether they're white or black makes no difference to me. But white farmers are being brutally killed and their land is being confiscated in South Africa. And the newspapers and the media, television media doesn't even talk about it. If it were the other way around, they'd talk about it. That would be the only story they'd talk about. And I don't care who they are. I don't care about their race, their color. I don't care about their height, their weight. I don't care about anything. I just know that what's happening is terrible. I have people that live in South Africa, they say it's a terrible situation taking place. So we've essentially extended citizenship to those people to escape from that violence and. Come here. Yeah, please.

[Press Reporter]

Mr. President, thank you. Are you letting China off the hook for these 90 days, and do you really believe that they will follow through.

[Donald Trump]

With non tariffs barriers and remove those non monetary tariffs? Yeah, yeah, I think they're going to follow through. I think they want it very badly. I think they want the deal very badly. Again, this doesn't include the steel tariffs that I put on a long time ago that Biden tried to get off, but he couldn't get them off because it was too much money. You know, I took in hundreds of billions of dollars from China, which a lot of people don't know. But we put on the tariffs originally. And if I didn't do that, we wouldn't have a steel industry today. Now we have a thriving steel industry. It'll be thriving much more with what we're doing, because this is the next level. But it doesn't include that, doesn't include cars, doesn't include pharmaceuticals when we do that. And the reason we're doing that will be to get them to come back in the country. You know, there are, again, I always say it because a lot of people forget, but if a company like Eli Lilly, which is making a massive investment in the United States right now, they're building many, many plants, they've already started like seven of Them many plants, but they are not going to be tariffed. There's no tariff cost. So they're all doing that. They're all coming back to the United States. I mean, I'll tell you what, I hope I get the benefit of watching this because as president, because you know, it takes a little while to do this stuff and we're doing it early in the administration. If you think of it, we have, I believe if you look at the real total, it's over $10 trillion committed for plants and factories. Other administrations haven't had 1 trillion over a four year period. Even over an eight year period we have over 10 trillion committed in one form or the other over two months. Give me a break. I'm here to hear three, but let's give me a break. On the first, on the first month we want to get acclimated. But you know, but if you think about it, it's really two months. And so in two months we have an investment already of over $10 trillion. And other presidents haven't had that done over a year, over four years in some cases. It's unprecedented. There's never been anything like it. It's a very exciting time in America. Thank you very much, everybody. Thank you. Who's in charge of the budget bill while you're gone, sir? I'll sign that. Mr. President, are you ready for sanctions on, on Russia if Putin doesn't agree.

[Dr. Mehmet Oz]

With the 30 day I have a.

[Donald Trump]

Feeling they're going to agree. I do. I have a feeling.

[Jason Miller]

Historic executive order. Keep it, keep the shot right there. Gentlemen, in studio today is my co host Jason Miller.

[Donald Trump]

It's the best group ever assembled in terms of medical, I think you're going to see a tremendous cut. I don't think, I mean I know you're going to see in Medicaid and Medicare that cut will be massive because drugs are 50, 60% of the cost. So Medicaid costs are going down and Medicare costs are going down because of what we're doing today. And there's no, it's not like, oh gee, well maybe it won't happen. It's going to happen because the other countries are, have no choice. Now the drug companies are going to have to say, listen, if you don't pay more, we're not going to give you the drug. And they're willing to do that. So that's it. They have to, we have to equalize. Mr. President, what is price controls? Say it.

[Press Reporter]

How do you, how do you respond.

[Donald Trump]

To the fact that this, it's not Price control. No, no. What was price control is before, if you want to talk about price control is what they were doing. They were making us pay. They set a price and they said, here's what we're going to pay and anything else charge America. Because at that time they had a very stupid president and it really went crazy during the last four years. And remember, the Democrats are the ones that allowed this to happen. They were the ones that were the protector of this pricing system. And I think it's going to be very hard. You'll have to ask Democrats, are they going to vote against the one great big beautiful deal that's being negotiated now, tax cuts, et cetera? We're now on top of the tax cuts and regulation cuts, all the things. Now you're going to say that the price of your medicine is going down by 60, 70, 80%. You're going to vote against it. I think a lot of Democrats are going to be forced to do something that their leaders are going to beg them not to do, and that's vote for the bill. I don't see how they can vote against it. How can they vote against it when drug prices, drugs and pharmaceuticals are going to be down 70, 80%? It's going to be very interesting. Mr. President, what do you say to.

[Press Reporter]

People who view that luxury jet as.

[Donald Trump]

A personal gift to you?

[Press Reporter]

Why not leave it behind?

[Donald Trump]

You're ABC Fake news, right? Why not leave it only abc? Well, a few of you would let me tell you, you should be embarrassed asking that question. And they're giving us a free jet. I could say, no, no, no, don't give us. I want to pay you a billion or 400 million or whatever it is. Or I could say, thank you very much. You know, there was an old golfer named Sam Snead. Did you ever hear of him? He won 82 tournaments. He was a great golfer. And he had a motto. When they give you a putt, you say, thank you very much. You pick up your ball and you walk to the next hole. A lot of people are still stupid. They say, no, no, I just start putting it. Then they putt it and they miss it and their partner gets angry at them. You know what? Remember that, Sam Snead. When they give you a putt, you pick it up and you walk to the next hole and you say, thank you very much. Respectfully, sir, as a businessman, some people may look at this and say, have.

[Press Reporter]

You ever been given a gift worth millions of dollars and then not received anything?

[Donald Trump]

It's not a gift to Me. It's a gift to the Department of Defense. Defense. And you should know better because you've been embarrassed enough and so has your network. Your network is a disaster. ABC is a disaster. Here is the bill. Bobby, come on over here. Now you're talking about.

[Jason Miller]

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[Donald Trump]

Do it today. Thank you very much.

[Jason Miller]

Okay. There's the President. Absolute blockbuster today started this morning at there's the President. Let's keep that shot right there. My co host from the beginning of the war room, Jason Miller is in the house. Jason, this started this morning with us at 3:00am Eastern Time when Scott Besant stood stepped to the microphones in Geneva about the trade deal. What a morning. It's been already pretty historic.

[Press Reporter]

Yeah. No, it's been huge. And Steve, I'll tell you as I set my alarm to get up this morning to watch Secretary Bessant and Ambassador Greer, which you know, some people set their alarm to wake up and watch an Olympic team on the other side of the planet. So come back into the room. My wife's like, what are you doing? Like, I was watching the press conference with the trade press conference, Geneva. And she goes, who are you on the phone with? Steve Bannon. She just looked and just like, shook her head. So that's how, that's how the day started. But, Steve, I'd rather, you know, chat with you at three in the morning than anyone else.

[Jason Miller]

Today's about these topics. I mean, it's just a big day.

[Press Reporter]

This is a very historic day when you think about what has been done just today. So, first of all, we talk about this historic trade deal with China, which, by the way, we still have the 50% tariffs on China. And this still.

[Jason Miller]

Does David, explain that for a second, because I think there's some misinterpretation about the 10% going on the 90 days. Let's talk about the reality that the hand that President Trump's playing in the cards, he's playing very smart. Number one is we have 50% tariff basically on China on their goods.

[Press Reporter]

Correct. So it's the 20% that are from the first term.

[Jason Miller]

First. Which Biden couldn't even take off.

[Press Reporter]

Exactly.

[Jason Miller]

And now we know the atrophy. We'll get into this later. But how Biden, These guys just. Even the Chinese said, we don't know what happened. These guys couldn't even talk to them.

[Press Reporter]

That 20 plus the 20. The fentanyl.

[Jason Miller]

The fentanyl 20.

[Press Reporter]

Yep. Plus then the 10% that we talked about, the universal baseline tariff. So it's 50% on them, 10% that they have on us. So right away, the President got them to take theirs way down. Still, this does not even count the tariffs on strategic industries, whether it be semiconductors or automobiles or steel and aluminum, or as we start talking about pharmaceuticals. So when we talk about what's the shift, the tectonic plate shift of what's already happening for not just jobs coming back to the U.S. not just foreign investment coming to the U.S. but also think about all the jobs and industries have moved away from China, whether they're going to other Southeast Asian countries or they're going to India. You think what's happening with Apple, for example, the shift is starting to happen. What Secretary Besant said, with a strategic decoupling is exactly what it is. So are we ever going to have the T shirt industry back in the United States? No, probably not. But do we need to make our semiconductors here? Do we need to make our AI servers here? Things of this Nature, of course, then you think of what the President just did.

[Jason Miller]

Well, hang on for a second because in the strategic decoupling, what. And we're going to play all this later, folks. We get all the clips. What I got to use Jason, where I got him because he's got a bolt. What he said also in Geneva, he said it's the precision engineering, it's the precision, precision manufacturing that we need to get back here. That's the key thing and that's what the strategic. We're going to strategically decouple from that bring those industries back. Those are the high value added manufacturing jobs of the future.

[Press Reporter]

Exactly. So that's what we need and that's what I think President Trump is doing. Keep in mind, this is just with regard to China, all the tariffs still remain when it comes to the eu when it comes to other trading partners, of course we got the deal done with the UK But President Trump is going to get wins from all these countries.

[Jason Miller]

You just got back from Southeast Asia. They're all looking, whether it's Japan, South Korea, Philippines, Vietnam, India, the big group of the East Asians, Indo Pacific, Australia, these are all stacked up. That vessel is going to come back when he gets back from Saudi Arabia and start, start closing on.

[Press Reporter]

Yeah. And the other thing too is keep in mind it's not just these deals, it's also the foreign investment. So I had a roundtable with energy CEOs when I was in Japan. They're going to be putting in tens of billions when it comes to whether it be Alaska or the Gulf States, various projects. There are thing to Steve, that really jumped out at me when I was in Asia. Everybody wants to be teamed up with the US they're begging to be team.

[Jason Miller]

You spend time in both Singapore and Tokyo and Tokyo and Taipei. And Taipei. I want to get to Taipei in a second in Singapore because Singapore, since Hong Kong's been shut down from us, I mean, you and I spend a lot of time there. Since that's been shut down from us. Singapore has become the new center of gravity on the financial really the capital market outside of Tokyo. In Asia it is.

[Press Reporter]

That's where all the deals are being done. So when you think about what's at the dead center of the quad, it's really, it's Singapore, even though obviously Singapore is not a member. But whether it's Australia, India, Japan, South Korea, ourselves, you think about all the key allies in the area, Singapore's region right at the dead center of all of it. And these countries want to be teamed up with us. That is, that's where they want to be and the tech.

[Jason Miller]

Did you get any, any pushback at all when President Trump kind of called guys out for the non tariff barriers which are so key here. It's just not the number it's a non tariff barriers. Did you get any? Did anybody actually complain that yeah, we that's unfair. They all kind of admit that they've been doing this to block American exports.

[Press Reporter]

Well exactly. I mean you think about with Japan with the currency manipulation. I mean you wouldn't think that Japan is a country that has serious issues with currency manipulation but they do. I mean we kind of take for granted I think the, the independence here of the Fed. I know sometimes the President likes to go and tee up our man Jay Powell a little bit but having the independence of the Fed is a pretty important thing when talk about global currency. So they have to go and change some of these non tariff barriers. There are a lot of sticky points say with, with regard to Japan and agriculture is a big one but they have to, if they want us to take their products then they have to open up markets to ours.

[Jason Miller]

Market up right now about a thousand points. So it's up over 42,000. So the mid April blaring headlines every day from the left media that this is worse than 1929 or 1932 in the Great Depression. That's kind of put to bed. Gold is gold is down 100100 bucks at 3200. We told this is going to bounce around 10 year bond 4.4 10 years been been been edging up. The market response to this so far is pretty positive.

[Press Reporter]

It's been great but but again it's not just that as you know Obviously the past 30, 40 years the wealth has all been created in the markets but not with the working class. But the wheels have been put in motion by President Trump to bring back these jobs to look after these specific sectors. This fundamental shift is on. This is changing. He is single handedly saving the US auto industry. He's single handedly well bringing about the US semiconductor industry as we see TSMC building their big facility.

[Jason Miller]

And talk to us when you were in Taipei, what's the feeling over there? Because that's like the dangers zone.

[Press Reporter]

It is a danger zone and they live in a world where in any moment China could go and make the move to, to take it over. And it's not just by the way it's not just the chips, it's the AI servers. There are a number of things that go into the ecosystem that are critical coming out of Taipei and they're very concerned, as they should be. And so they realize that they need to diversify, they need to have operations. They do. They need a strong US Ally. And you can tell just in talking home, it's the first thing that comes.

[Jason Miller]

Up the, you know, we're part of the decoupling crowd. Right. We're anti ccp. However, we understand the reality of the global economy. We were a huge supporter of Lighthizer's two year effort to actually get a deal that integrated it all, took care of all the original sins of the Chinese Communist Party as far as the economy goes for two years. And then at the end of that, they kind of spit in President Trump's face and walked away from that deal. We did get the skinny deal later, which is a part of this and the execution of it. But how does President Trump now navigate is because they're committed to a strategic decoupling. What Bessen said there was so important a strategic decoupling on some, you know, and particularly precision manufacturing, bringing manufacturing back, looking at jobs. How do you, you're not going to get that done in 90 days. That's going to take a while. And Jamison Greer is the perfect guy. People don't understand. Ambassador Greer, who is at the microphone next to Scott today, was with Secretary Bessen the entire time. He was the wingman for Lighthizer. He was the deputy over there and he worked for two years. This guy knows the Chinese as well as anybody, except for maybe Peter Navarro. How do you work through that?

[Press Reporter]

Well, keep in mind that one of the things Secretary Bessen said in that 3am press conference, 9am Geneva time, was, was that now we have the mechanism in place to even have these talks. They have a process. They have a process. This is important. People might not realize for the past four years with Joe Biden, not only did Biden not enforce the Trump, they just steamrolled over. They did not even have who is supposed to speak with whom. How are you supposed to push forward on this? Because Biden was, well, literally in figuratively asleep at the wheel this entire time. Now they know who to talk to, how to go and do it. That's an important point. Even that's why that was the single.

[Jason Miller]

Biggest complaint that Besson told us today of the Chinese when they first showed up to say, look, we need a. If this is going to be real, we need a process, because we haven't heard from you guys in four years, which is pretty stunning.

[Press Reporter]

And by the way it's not even just an examples such as trade. I mean when Steve Witkoff told me that he was over doing some of the initial pre inauguration peace talks, that the others, some of the players that were involved in that process would just laugh and say we don't even know if the people here talk to Joe Biden. Joe Biden doesn't know who these people are. Having people actually, you know who to talk to in these other governments or these other operations is.

[Jason Miller]

And a guy dealmakers engage. I mean look at this conference. I know you get a bolt. Peace deals, trade deals were tax deals. What else we got?

[Press Reporter]

We got drug deals, drug deals.

[Jason Miller]

This is monumental.

[Press Reporter]

This was huge. Everything that every politician going back my entire adult life has said that they were going to do, which has never been done. President Trump just did it today. So effectively these costs are going to be shifted back to the Europeans. It's not going to be.

[Jason Miller]

Well, this is what would happen is that we would pay the American people, pay for the intellectual property, the primary research at the universities. This would get up to the drug companies, they'd have patents for a while. And what they would do is they would, we would basically underwrite the European nations having a better deal than the American people and higher prices. Trump just said, hey look, guess what? You're going to have to take your profits from Europe and you're going to have to plow them back here because we're going to cut the prices. We're going to give the American citizen most favored nation status essentially.

[Press Reporter]

Right. Well and that's exactly it. I mean there's we heard the examples from Secretary Kennedy, from Bhattacharya or Makary or Dr. Oz. They went through and listed example after example of why will some other country, they pay $8 for this, but then we have to pay $1,000 and that's highway robbery. And especially keep in mind when you're talking Medicaid, Medicare, I mean this is taxpayer money. That's why you have Dr. Oz, the head of CMS, who's up there talking about it. Because this is where. This is where.

[Jason Miller]

Why has this never been in all the years you've been here and have been on the Republican politics side, why the Oval Office in the Roosevelt Room, that whole West Wing has been bought and paid for by big Pharma. Why has this never been done except for today?

[Press Reporter]

Because Big Pharma's got a big checkbook. And you think about Steve, the structural reform of something like this. This is how you bring things like this bring down the cost of entitlements by going and having smart.

[Jason Miller]

This is his comments about Medicaid and Medicare.

[Press Reporter]

Yes. So this is because we all know that entitlement growth is the thing that's absolutely blown up the budget. Obviously President Trump has said that we're not going to cut entitlement benefits, but you can do it smarter, you can do it more efficient in the amount of money that we can save just from something like this blows away even some of the much hyped up savings that we found so far in this administration. This is the bazooka blast.

[Jason Miller]

Talk about what he's doing is so smart. He's going after foundational elements that drive cost the American people. Energy prices are coming down, the drug prices are going to come down. The cost of living is essentially going to come down. Right. And this is where he's going to garner. He's going to get economic traffic traction to do other things. But he's going after chorus folks, the things he's doing behind the scenes eventually become policy. And this is why I love when he just comes in and takes an hour and just takes questions from the media. It is so powerful in rewiring not just the global economy and the commercial relationships of the American people and the country, but the entire way the nation works now.

[Press Reporter]

And exactly. Even when it comes to the tax bill. I know the first draft is of it might have had a couple of omissions, but you and I, I mean he's going to get it done.

[Jason Miller]

Yeah, when we saw it, it was a little, the thing put out Friday night, it was a little, little light.

[Press Reporter]

Right. But the energy costs coming down, the cost of prescription drugs coming down. We look at the taxes coming down. I mean so much of this is coming to play and also we're. He's single handedly saved the US Auto industry. I mean the trajectory of the US Auto industry is going to be kaput. You see right now, you see what's happening in Germany, for example. I mean the Chinese have come and completely eaten Germany's lunch.

[Jason Miller]

In the middle, what they call the middle companies, right in the middle.

[Press Reporter]

The Chinese took them all, they took them out. I mean their industry, their manufacturing base is wrecked. Plus they've gotten themselves in the pickle with energy. They cut off the Russians, they turn off the, the nukes and the coal plants and then I guess they just rather pedal their bikes to work. I don't know what Germany is even doing anymore.

[Jason Miller]

The new Portugal in Spain, a couple of they're going to have a couple.

[Press Reporter]

Of dark days and some of those Mike Bloomberg bike lanes for Germany because no more energy. But they're going to go and turn that around. I think Mertz and some of those at least will be better in Olaf Schultz from before. But the fact of the matter is President Trump said it's going to take a little bit of time. We're going to get there. Secretary Besson said you got to look at the regulatory changes, you got to look at the tax changes, you got to look at the trade changes. This is all part of one pot.

[Jason Miller]

It's one part of an ecosystem that we, when Scott and Bessant and Trump are talking about bringing these jobs back, it's, you're going to have a bigger regulatory environment, better energy environment, better ecosystem, built up infrastructure will be in a complete package. That's not just tariffs. That'll be a big part of it. That's why jobs are going to come.

[Press Reporter]

Back and today with this drug pricing deal for President Trump to do this. Steve, your point was so spot on. For literally decades, politicians have talked about doing this. They've always been chicken because pharma has a big checkbook. Well, guess what President Trump just said and even started off by saying, hey, I know these guys kicked in a lot of money. But you know what this is about.

[Jason Miller]

The American people, so heroic, what he's done with big tech, the oligarchs and what he's done here. Also Bobby Kennedy, I get to, I got to hear a Democrat response to what Bobby Kennedy said. Bobby Kennedy is Democratic Party royalty. And Bobby Kennedy says he's worked his entire adult life for this. It's never happened. And he said, he called out Bernie Sanders by name. He said, bernie Sanders, this is what you stood for. Biden didn't do it. They had every opportunity to do this in Biden's term and nothing happened.

[Press Reporter]

No. Meanwhile, that's why you see the Democratic Party in such disarray. I mean, as you have Mayor Pete and Jasmine Crockett and the rest of the all stars, they're leaving that party.

[Jason Miller]

It's not serious.

[Press Reporter]

It's not serious.

[Jason Miller]

Bob Reich wrote a great piece in the Guardian about a populist economic left. And it's just, it's a cry for help. I only got you for a few more minutes. The one we haven't covered is peace deals. A bombshell right there on Turkey. Right. Because Turkey, you got the Ukraine peace negotiations that Erdogan is going to host on Thursday. The president showed a little ankle there. You think a possibility that President Trump could be in Istanbul.

[Press Reporter]

Boy, I can only imagine Sean Kern sweating as he heard that. Sean, of course, being the head of the Secret Service, no problem securing that. Hey, boss, what are you doing to me here? But, no, but this is. It's only coming about because. Because of President Trump. And this is the thing. It's the force of personality. It's the knowing how to use the big bazooka blast to get engaged.

[Donald Trump]

Engaged.

[Press Reporter]

Get them engaged. Because, Steve, there was nothing that was going to change the trajectory of this war if it wasn't for President Trump. And from the beginning, President Trump had the messaging on this so perfect. We have to stop the killing. Everyone else comes in, they're arguing about a province here or region here. We got to get this land. Or they're trying to define who wins. No, no, no. This is about stopping the killing. The other thing that people forget, when you have the destabilization between Russia and Ukraine, what that does is that kills business investment, whether it be not just in central Eastern Europe, but really in all of Europe. People get nervous about what's going on. It changes what's happening with the global oil and energy supply, the markets there. It really has folks clenching up and not wanting go and spend or invest money. You get that saved, people start deploying capital again, and the global economy will be much better off.

[Jason Miller]

I tell people in the second hundred days, and we're going to see the summer is the convergence of crises. Now, you've got the first, I believe is the only thing that Democrats get going for is this radical judicial supremacy. Right. Something's going to have to happen between now and the time the court leaves at the end of June. Correct. We're going to have to have some. Some resolution to these judges stepping between. Because to delay is to deny. Right. And that's obviously what they're trying to do, make it smart on the convert. You got the. You got the debt ceiling comes due in the first couple weeks of August. You've got the big beautiful bill, how that lumbers through here. You've got the mass deportations, the court situation, plus the kinetic part of the Third World trying to balance all these different zones of conflict. Now Kashmir and Pakistan thrown in there. Make us smart the next hundred days or so. What is. How does Jason Miller look at this?

[Press Reporter]

So obviously, watching all the trade deals, I think the administration is pretty darn close on a few others. They'll be ready to be announced, which is good.

[Jason Miller]

Cease Asian. The big ones, the Japans, the Koreas.

[Press Reporter]

The Indias, There'll be, yeah, there'll be several more that are coming. So that's going to be continued progress. The big beautiful bill. Look, I know everyone's optimistic we're going to get done in July. I hope it's July before the August recess. Just because of the debt ceiling.

[Jason Miller]

I'm a September guy on that.

[Press Reporter]

I'm probably a September guy. That's just realistically, I mean there's, there's.

[Jason Miller]

A. Scott's going to have to learn to stretch the debt ceiling.

[Press Reporter]

Yeah, it's going to priority payments. Yeah, priority payments. Get in and you get a 10% discount. So that's an issue. But the thing that I'm really paying attention to, Steve, is the constitutional crisis that I think this country is coming up on. The fact that you have these rogue circuit court judges that can go and put a temporary restraining order like on.

[Jason Miller]

Friday, 21 agencies president can't touch some, some judge in a Clinton appointee in San Francisco.

[Press Reporter]

Exactly. Or will be some Biden appointee in Rhode island or some blue state, some Democrat appointed judge that then that holds for the entire country. That is not the equal balance.

[Jason Miller]

Do you believe that? As I've been saying, now that the court leaves the last week of June, they come back in the first week of October. This has to, this part of it has to be resolved. You can't have a summer with this open where these judges are still making these decisions and stopping the deportations of these criminal terrorists.

[Press Reporter]

It is, I mean in many ways, I think I said this once before that effectively they just traded their pink hats for black robes. This is the new resistance. This is how they're trying to stop President Trump. The Democrat Party is a complete mess. They have no idea what they're doing. But they look and they say, you know what? This is how we'll throw the refrigerator on the trail train track by having these, these rogue out of control judges.

[Jason Miller]

President Trump, one of his closest advisors, Jason Miller. Where do people go on social media to get you?

[Press Reporter]

Absolutely. You can find me on X. Do we call it X now? Twitter at Jason Miller, at Jason Miller in D.C. and pretty much every other.

[Jason Miller]

And you're pretty selective down your TV appearances. Once you were doing all the CNN because you, you had a deal over there. But now you're pretty selective where you go. Right?

[Press Reporter]

Yeah, I'll get out there either when President Trump needs another advocate or if there's something that I'm passionate on. Today is a perfect example. I mean how many historical things are happening?

[Jason Miller]

No, no. 3 o' clock in the morning. Nobody, nobody better to talk to than Jason Miller, our original co host here with Raheem in the room. Jason, thank you so much. And thank you for hanging around. Just fantastic. Short commercial break. We're going to return to the war. Take your phone out. Bannon B A N N O N at 989-898. Get to Birch Gold today, the ultimate guide to investing in gold and precious metals in the era of Trump. Take a short commercial break. Jason Miller, thank you so much, brother.

[Press Reporter]

Thank you.

[Donald Trump]

But I'm American made. I got American power. I got American babe.

[Jason Miller]

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[Donald Trump]

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[Press Reporter]

A lot of these big corporate supplements.

[Donald Trump]

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[Jason Miller]

For those who don't know, beef liver.

[Donald Trump]

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[Press Reporter]

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[Donald Trump]

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