Transcript - Remarks: Donald Trump Meets With Workers on Removing Regulations - October 17, 2018 | Factba.se

Donald Trump

00:00:00 - 00:00:24 (25 sec)

Thank you very much, and welcome to the Oval Office. On Monday, I traveled to Florida and Georgia to meet with first responders and to visit with those affected by the devastation of Hurricane Michael. And yesterday, Mike Pence traveled also to the two states and he saw devastation like he’s never seen before. We’re in the same category. It was something. Something horrible.

Donald Trump

00:00:24 - 00:00:38 (14 sec)

Thousands of federal employees and military personnel have been deployed to assist in the massive recovery effort. One of the biggest we’ve ever done, and we’ve had some pretty big hurricanes. This was just about at the top.

Donald Trump

00:00:38 - 00:01:04 (26 sec)

We will not rest until every community has been fully restored. The restoration efforts here is bigger than the others, because the winds were so powerful. They literally lifted businesses and houses and factories -- everything in its way. They would literally lift not only the house, they would lift out the foundations, in many cases. They ripped out foundations that were set deep. And nobody has seen anything quite like this.

Donald Trump

00:01:04 - 00:01:21 (18 sec)

We're here today to discuss my administration’s historic effort to reduce job-killing regulations. We have set a record on killing regulations. No administration has knocked out as many as us, and we have a long way to go.

Donald Trump

00:01:21 - 00:01:33 (12 sec)

At the same time, we will have rules, regulations, and other standards which we need, we have to have. But we have knocked out tremendous numbers of unnecessary regulations.

Donald Trump

00:01:33 - 00:01:53 (21 sec)

We’ve removed more regulations, and we will continue to get rid of regulations. I think within a period of about another year, we will have just about everything that we’ve wanted. And one of the reasons the economy is so strong is that we’re not hampered by the ridiculous regulations that we were getting rid of and are getting rid of.

Donald Trump

00:01:53 - 00:02:13 (19 sec)

EPA, I can tell you -- just speaking of one -- the things, Mr. Secretary, that we have gotten rid of, it’s unbelievable and totally unnecessary. And I know you have a long way to go. And yet, we’re going to have the best EPA that anybody has ever had -- and the strictest, in a certain way.

Donald Trump

00:02:13 - 00:02:28 (15 sec)

I want to thank very much Secretary Zinke, Secretary Perdue, Secretary Chao, Director Mulvaney, Administrator McMahon, and Acting Administrator Wheeler, who’s doing a terrific job, by the way, over at the EPA.

Donald Trump

00:02:28 - 00:02:42 (15 sec)

And we’re joined today by six really impressive people. People that some of you have gotten to know. People that have been both helped and hurt in lots of different situations, but very spectacular people.

Donald Trump

00:02:42 - 00:02:50 (8 sec)

I want to introduce Chris Chinn, a fifth-generation Missouri farmer. Thank you very much, Chris. How’s Missouri been, good?

Chris Chinn

00:02:50 - 00:02:54 (4 sec)

We’re doing good. We had a drought this summer, but we’re recovering.

Donald Trump

00:02:54 - 00:02:58 (4 sec)

That’s good. It’s a great place. It’s a great place.

Donald Trump

00:02:58 - 00:03:02 (4 sec)

Luanne Cundiff, a community banker from Missouri, also. Right?

Luanne Cundiff

00:03:02 - 00:03:04 (2 sec)

St. Charles, Missouri.

Donald Trump

00:03:04 - 00:03:15 (11 sec)

And the community bank business is doing much better now that we got rid of the man that was running the regulatory service that was just absolutely destroying people. How is that going there?

Luanne Cundiff

00:03:15 - 00:03:27 (11 sec)

Yeah. We have new heads of many regulatory agencies in place now, and they have been boots on the ground trying to listen to concerns from community bankers and address those concerns. So it’s going well.

Donald Trump

00:03:27 - 00:03:47 (21 sec)

It’s a big difference. They’re doing a really good job. And Mick Mulvaney has done a fantastic job in taking that over. We were hampered by a man that was just terrible. And now he’s running for the Governor of Ohio, isn’t that nice? Running for the Governor of Ohio; would be a terrible Governor.

Donald Trump

00:03:47 - 00:03:58 (10 sec)

Adam Red, a councilman of the Ute Indian tribe of Colorado. And tell us a little bit about that tribe.

Adam Red

00:03:58 - 00:04:06 (8 sec)

Well, it’s the Southern Ute Indian tribe. We’re the only tribe located in [inaudible], Colorado. We are an energy-producing tribe.

Donald Trump

00:04:06 - 00:04:08 (2 sec)

That means you’re rich.

Adam Red

00:04:08 - 00:04:08 (1 sec)

Donald Trump

00:04:08 - 00:04:10 (1 sec)

They’re rich.

Adam Red

00:04:10 - 00:04:11 (1 sec)

Donald Trump

00:04:11 - 00:04:11 (1 sec)

Adam Red

00:04:11 - 00:04:15 (3 sec)

Got to be humble. [Laughter] Yeah, we got money.

Donald Trump

00:04:15 - 00:04:17 (2 sec)

That’s great. But it’s going well?

Adam Red

00:04:17 - 00:04:18 (1 sec)

It’s going well. Yes.

Donald Trump

00:04:18 - 00:04:25 (8 sec)

That's good. David Boyer, a trucker with ABF Freight. David, thank you very much. I saw you before. Thank you, David.

Donald Trump

00:04:25 - 00:04:28 (3 sec)

Benson Waller of Riverview Coal Mine.

Benson Waller

00:04:28 - 00:04:29 (1 sec)

Donald Trump

00:04:29 - 00:04:37 (9 sec)

Thank you, Benson. Chip Kovach, Vice President of Engineering for his family’s small business, City Machine Technologies. How’s that going?

Chip Kovach

00:04:37 - 00:04:47 (10 sec)

Great. Ever since the administration, we are busier than ever. Having trouble finding good, qualified help. It’s actually a very good problem to have.

Donald Trump

00:04:47 - 00:04:51 (4 sec)

Well, we’re setting records on unemployment or employment, use either word.

Chip Kovach

00:04:51 - 00:04:51 (0 sec)

Donald Trump

00:04:51 - 00:04:54 (3 sec)

Use either way. Either way, it's a record.

Chip Kovach

00:04:54 - 00:04:55 (1 sec)

Supply and demand.

Donald Trump

00:04:55 - 00:05:11 (17 sec)

It’s good. And a lot of people are being trained and we’re training a lot of people. And companies are coming into our country now at a record clip, and they’re all coming in and training large amounts of people. And frankly, I like them training them better than anybody. But I heard you’re doing really well, and that’s really nice.

Donald Trump

00:05:11 - 00:05:14 (3 sec)

Do you have anything to say, anybody? This side?

Chris Chinn

00:05:14 - 00:05:31 (17 sec)

The agriculture industry is very appreciative of everything that you’ve done. You've brought attention back to rural America, and we appreciate it. We’ve had a struggling infrastructure system. High-speed Internet access in Missouri -- over 60 percent of our rural Missourians don’t have access to affordable, high-speed Internet.

Donald Trump

00:05:31 - 00:05:31 (0 sec)

Chris Chinn

00:05:31 - 00:06:00 (29 sec)

And the work that you’ve done with Secretary Perdue to get many out into our rural communities, we really appreciate the reverse-path auction through the FCC. Missouri was awarded $254 million of that. It's going to connect 95,000 homes to high-speed Internet. And we just really appreciate it. Missourians appreciate what you’re doing on their behalf to make their rural communities vibrant again, and to help the agriculture industry pass on to that next generation of farmers and ranchers.

Donald Trump

00:06:00 - 00:06:03 (3 sec)

Great. Well, it’s my honor. And you have a great race going on out there.

Chris Chinn

00:06:03 - 00:06:04 (1 sec)

Donald Trump

00:06:04 - 00:06:14 (10 sec)

And that will make a big difference. A very positive difference, the outcome. I won’t say it because I’m not a political person, so I won’t discuss that. [Laughter] I won’t discuss that in front of the press, okay?

Donald Trump

00:06:14 - 00:06:16 (2 sec)

Go ahead. How about yourself?

Luanne Cundiff

00:06:16 - 00:06:18 (2 sec)

Luanne Cundiff

00:06:18 - 00:06:26 (8 sec)

So Missouri is well represented here. Again, I’m from St. Charles, Missouri, representing the community banking sector. I actually --

Donald Trump

00:06:26 - 00:06:30 (4 sec)

Have you seen a big difference in community banking over the last couple of years?

Luanne Cundiff

00:06:30 - 00:06:49 (19 sec)

We have. Actually, much has changed. We actually had a meeting here last March to talk about issues we needed to work on. And the Treasury implemented some suggested changes, and you signed a law in May of this year -- Senate Bill 2155.

Donald Trump

00:06:49 - 00:06:50 (1 sec)

That’s right.

Luanne Cundiff

00:06:50 - 00:06:54 (4 sec)

A reg relief bill. And the tone has certainly changed --

Donald Trump

00:06:54 - 00:07:04 (10 sec)

They actually needed -- think of it: They needed a regulatory relief bill. The regulations were so bad, they needed relief from regulations, which is somewhat of a classic.

Donald Trump

00:07:04 - 00:07:05 (1 sec)

Luanne Cundiff

00:07:05 - 00:07:33 (28 sec)

But my -- I think my message here is we have so much more to do. We have a lot of positive things happening. You talked about workforce issues being a good problem to have, but it is still a problem. But we need to forge ahead, because we, as an example bank, we’re kind of falling in the gap for that particular regulation. We’re too small to benefit from some provisions, and too large --

Donald Trump

00:07:33 - 00:07:34 (1 sec)

You’re in the middle.

Luanne Cundiff

00:07:34 - 00:07:42 (8 sec)

We are in the middle. So we have lots of ideas on how to modernize some existing regulations that are on the books. So we look forward to working with --

Donald Trump

00:07:42 - 00:07:42 (0 sec)

We’ll do that.

Luanne Cundiff

00:07:42 - 00:07:43 (0 sec)

Donald Trump

00:07:43 - 00:07:46 (3 sec)

Good. And go ahead, tell me about your situation.

Adam Red

00:07:46 - 00:07:59 (13 sec)

Thank you, Mr. Trump. I’d like to start by saying thank you to your administration and also Secretary Zinke. I’m on his Royalty Policy Committee. So, I mean, we’re tasked with streamlining the red tape.

Adam Red

00:07:59 - 00:08:13 (14 sec)

Also, our tribe -- I mean, I can’t thank you enough for your work in rolling back some of these regulations that we are ruled by. Our tribe has faced hurdles for years, and now we’re starting to see some of the light come through with the work.

Donald Trump

00:08:13 - 00:08:17 (3 sec)

Your tribe had some big problems. You couldn’t get to what you wanted to get to.

Adam Red

00:08:17 - 00:08:17 (1 sec)

Donald Trump

00:08:17 - 00:08:18 (1 sec)

And now you’re able to do it.

Adam Red

00:08:18 - 00:08:30 (12 sec)

Exactly. And I mean, your administration has given deference back to the tribes to make the decisions on what happens on their land, and that was our goal to begin with. We shouldn’t be told from outside sources what is best for us.

Donald Trump

00:08:30 - 00:08:32 (2 sec)

Good. Well, good. You’re doing a great job.

Adam Red

00:08:32 - 00:08:32 (1 sec)

Donald Trump

00:08:32 - 00:08:36 (3 sec)

I’ve seen what you’ve done in a short period of time. It was fantastic.

Adam Red

00:08:36 - 00:08:36 (0 sec)

Donald Trump

00:08:36 - 00:08:37 (1 sec)

Congratulations.

Donald Trump

00:08:37 - 00:08:38 (1 sec)

David Boyer

00:08:38 - 00:08:42 (3 sec)

Everything is good right now. It is good.

Donald Trump

00:08:42 - 00:08:44 (3 sec)

Big difference, right?

David Boyer

00:08:44 - 00:09:03 (18 sec)

We’re working. I’ve run from Westfield, Virginia to Memphis, Tennessee, and I’ve never seen as many signs out -- "Help Wanted," "Help Wanted." You go through Knoxville, you go through Nashville, Memphis, you look up on the warehouses -- "Help Wanted" and "We're Hiring." And we've never seen that before.

Donald Trump

00:09:03 - 00:09:04 (1 sec)

Best it's ever been.

David Boyer

00:09:04 - 00:09:05 (1 sec)

Donald Trump

00:09:05 - 00:09:05 (1 sec)

Best it's ever been.

David Boyer

00:09:05 - 00:09:06 (1 sec)

Best time I remember.

Donald Trump

00:09:06 - 00:09:12 (6 sec)

Therefore, we should do well in the midterms. They never report how well we’re doing, which they don’t like to do.

Donald Trump

00:09:12 - 00:09:15 (3 sec)

That’s good. Come here. Appreciate it.

Donald Trump

00:09:15 - 00:09:16 (1 sec)

Benson Waller

00:09:16 - 00:09:30 (14 sec)

On behalf of all of the hardworking men and women in the coal industry, we want to thank you for your support. It means a whole lot. Back in 2016, times were really tough. And the company that I worked for actually had downsized, you know, for the first time in the history of the company.

Benson Waller

00:09:30 - 00:09:37 (6 sec)

But the particular mine that I work at, I just want you to know that, in the last several months, we’ve added a hundred people. And we’re looking to add --

Donald Trump

00:09:37 - 00:09:39 (3 sec)

It’s a big difference, right?

Benson Waller

00:09:39 - 00:09:41 (2 sec)

Yeah, we’re looking to add to 150 more.

Donald Trump

00:09:41 - 00:09:56 (15 sec)

Saved that industry. That industry was gone. And it's a very important -- really, a very important asset for our country. That industry was gone. It was going to be out. And we would’ve had a big problem if it was gone. And they have great people in that industry. And that’s what they want to do, right? Clean coal.

Benson Waller

00:09:56 - 00:09:57 (1 sec)

That’s right.

Donald Trump

00:09:57 - 00:10:08 (11 sec)

What they do today, the technology on coal is so incredible. What they can do with coal today is from a different world. Good, beautiful clean coal. And you’re back working, right?

Benson Waller

00:10:08 - 00:10:09 (1 sec)

Donald Trump

00:10:09 - 00:10:10 (1 sec)

That’s fantastic.

Benson Waller

00:10:10 - 00:10:10 (0 sec)

Donald Trump

00:10:10 - 00:10:11 (1 sec)

Are you Kentucky?

Benson Waller

00:10:11 - 00:10:12 (1 sec)

Donald Trump

00:10:12 - 00:10:14 (3 sec)

Good. That’s good. Say hello to everybody. I just left Kentucky. [Laughter]

Benson Waller

00:10:14 - 00:10:15 (1 sec)

Hello, Kentucky.

Donald Trump

00:10:15 - 00:10:28 (12 sec)

You know, we had a big rally there the other night. It was incredible. Thousands and thousands of people outside of the arena. They couldn’t get in. It was something really special, and they appreciate what we are doing.

Benson Waller

00:10:28 - 00:10:28 (1 sec)

Donald Trump

00:10:28 - 00:10:29 (1 sec)

So, just say hello.

Donald Trump

00:10:29 - 00:10:31 (1 sec)

Chip Kovach

00:10:31 - 00:10:49 (18 sec)

Well, business has been off the charts across the board -- steel, energy, oil, and gas. Our customer base -- we’re actually -- we repair equipment. We are helping steel mills resurrect plants that were shuttered 10 years ago, bringing them back up to production to make American steel.

Donald Trump

00:10:49 - 00:11:01 (12 sec)

So one of things we’re most proud about is what’s happened with our steel industry. Our steel industry was dead. Our aluminum -- the aluminum industry was dead. It was dead as a doornail -- both of them.

Donald Trump

00:11:01 - 00:11:29 (29 sec)

And steel in particular, but aluminum also -- steel is through the roof now. We’re taxing the dumpers, the nations that dump. And they dump a lot of garbage -- steel. Sand steel, mud steel, bad steel -- not strong steel. And then we use it to fabricate beams for buildings and parts for airplanes, and they find it’s no good. And in many cases, they don’t know about until long afterwards, and in some cases when it’s too late.

Donald Trump

00:11:29 - 00:11:45 (16 sec)

So now we’re taxing them, and very, very heavily. And what’s happening is the steel industry is thriving. I mean, literally, in a period of a year, the steel industry is just a hot industry right now. So it’s been a great thing to see. Thank you very much.

Donald Trump

00:11:45 - 00:11:47 (2 sec)

Vice President, do you have anything to say? Mike?

Mike Pence

00:11:47 - 00:12:04 (17 sec)

Thank you, Mr. President. I just want to thank these six great Americans for coming in and helping to tell the story of this economic boom of 4.2 billion new jobs created and new signed legislation to pass the largest tax cut and tax reform in American history.

Mike Pence

00:12:04 - 00:12:23 (19 sec)

But what you and I both hear as we travel around the country is what we heard again this morning: Is that -- the fact that this President and this Congress has actually passed more laws repealing federal red tape than any administration in American history is making just as much a difference in the prosperity of the nation.

Mike Pence

00:12:23 - 00:12:38 (15 sec)

So I want to thank all these folks, all the members of our Cabinet for coming here and helping to tell the story about rolling back red tape, rolling back taxes, getting this economy rolling again. But our promise to all of them, Mr. President, like you always say, is: We’re just getting started.

Donald Trump

00:12:38 - 00:12:40 (3 sec)

That's true. That's true.

Donald Trump

00:12:40 - 00:12:44 (4 sec)

Administrator, tell me. EPA? Give us a little talk.

Andrew Wheeler

00:12:44 - 00:13:06 (22 sec)

So far, under your leadership, we’ve rolled back 28 regulations, saving the American public $1.5 billion. You have another 54 deregulatory actions planned over the next year. At the same time, though, our air is getting cleaner, our water is getting cleaner. Air is 73 percent cleaner than it was in the 1970s. So we’re deregulating, but we’re protecting the environment at the same time.

Donald Trump

00:13:06 - 00:13:11 (6 sec)

And you’re opening up and allowing businesses to open and thrive, as opposed to -- they can’t do it.

Andrew Wheeler

00:13:11 - 00:13:12 (1 sec)

Donald Trump

00:13:12 - 00:13:13 (1 sec)

Donald Trump

00:13:13 - 00:13:14 (1 sec)

Linda McMahon

00:13:14 - 00:13:45 (31 sec)

Well, it’s terrific. Mr. President, thank you very much for your vision of a commonsense approach to job growth. If you cut taxes, you roll back regulations, you get out of the way of small businesses, they will start to grow and expand. And that’s exactly what we’re seeing. And I have the benefit of being out on the road and interacting with companies like City Machine Technologies in Youngstown, and seeing exactly what they’re doing. So, rollback of the regulatory environment really is boosting the businesses, and I see it and I feel it.

Donald Trump

00:13:45 - 00:13:47 (2 sec)

Great. Great job, Linda. Thank you.

Donald Trump

00:13:47 - 00:13:47 (0 sec)

Elaine Chao

00:13:47 - 00:14:00 (13 sec)

Mr. President, who would have thought a year ago that GDP growth for the third quarter would be 4.2 percent? People were surprised it was even over 3 percent in the second quarter. It was 2.2 in the second quarter.

Donald Trump

00:14:00 - 00:14:02 (2 sec)

They didn’t think so. [Laughter]

Elaine Chao

00:14:02 - 00:14:40 (38 sec)

The unemployment rate is now at 3.7 -- it’s the lowest in about 50 years. And at the Department of Labor, the previous eight years, the overall avalanche of regulations was strangling job creators, employers. And the Department was basically sending out about $3.1 billion annually in regulations that were not all useful. They didn’t help safety. And David Boyer is here; he has driven over 2 million miles, without accidents, and he also will be named --

Donald Trump

00:14:40 - 00:14:41 (1 sec)

You never had an accident?

David Boyer

00:14:41 - 00:14:43 (2 sec)

[Inaudible] driven 6 million miles --

Donald Trump

00:14:43 - 00:14:49 (6 sec)

I want him to drive for me. Well, how about you -- [laughter] -- I'll let [inaudible]. That’s pretty good, David.

Elaine Chao

00:14:49 - 00:14:54 (5 sec)

And he will be named the National Trucker of the Year by the American Trucking Association.

Donald Trump

00:14:54 - 00:14:58 (4 sec)

Wow. That’s big stuff. [Applause]

Elaine Chao

00:14:58 - 00:15:11 (13 sec)

So we want responsible regulations but regulations that make sense, that are not overly burdensome, that are not duplicative -- you know, duplicative that don’t make sense. And so, at the Department of Transportation, that’s been our guidance as we go forward.

Donald Trump

00:15:11 - 00:15:13 (2 sec)

Thanks a lot. Thanks, Elaine.

Donald Trump

00:15:13 - 00:15:19 (5 sec)

So, Mr. Secretary, the largest landlord in the world. [Laughter] At least the largest in this country, I guess.

Ryan Zinke

00:15:19 - 00:15:52 (33 sec)

Mr. President, I’d like to highlight the Southern Utes. This is an example of when you empower a great nation to do great things -- they get free healthcare and free education. You know, and things are pretty tough out in Indian Country, but when you empower a great people to do great things by deregulating and making sure that they’re involved in decision-making -- and many times, sovereignty should mean something -- this is a great example of the empowerment and the ability to shape your own future in Indian Country [inaudible] Southern Utes.

Donald Trump

00:15:52 - 00:16:03 (11 sec)

So, Secretary, tell us about energy and what’s happened with energy. We’ve become the biggest in the world. A lot of it is because of what we've done. Tell us just quickly about that.

Ryan Zinke

00:16:03 - 00:16:25 (22 sec)

We are the largest oil and gas producer on the face of the planet. Inconceivable 600 days ago. For the first time in 60 years, we’re exporting liquid natural gas. And what it means is there's $20 trillion of untapped wealth in this country. Energy -- all above. And as you know, Mr. President, we’re all the above.

Ryan Zinke

00:16:25 - 00:16:49 (25 sec)

We just want it made it America. And by having energy made in America, I don’t want to ever be held hostage. I don’t want to see your kids see what I’ve seen. There’s a lot of reasons to fight, but fighting for energy is not one of them. And economically, we’re seeing a rebirth. We have the lowest unsubsidized price in gasoline on the face of the planet, and that’s because American energy has delivered.

Donald Trump

00:16:49 - 00:17:18 (28 sec)

So we’re the largest in the world now -- energy. And you said 600 days, and that’s right. It’s been -- it’s taken place very quickly. We’ve made it possible. We’ve opened it up. And thank you. And just if you look at oil prices, we’re very happy we did, because it would not be a pretty picture right now. But now we don’t need others. In the old days, we needed others, and that’s how we got involved in the Middle East. We don’t need others now.

Donald Trump

00:17:18 - 00:17:18 (1 sec)

Mick Mulvaney

00:17:18 - 00:17:39 (21 sec)

Mr. President, this is our second deregulatory day here. We had a chance to talk about this in the Cabinet a little bit. And the really good news -- I don’t think anybody has talked about it -- is that we’re actually doing better this year than we did last year. As good a year as we had last year on deregulation, this year is actually even better. More things taken off the books, more things slowed down. More savings for people. That's because it's a priority for you.

Mick Mulvaney

00:17:39 - 00:17:51 (12 sec)

And everybody in the Cabinet has pulled in the same direction on this because they know it's a priority for you. It's been a priority for them. And the results are real. We have real, tangible savings. And everybody around here is benefitting from it.

Mick Mulvaney

00:17:51 - 00:18:12 (21 sec)

On the banking front -- which I sort of spent some time with across the street in my other job -- the neat thing about that is that you look around the table -- even the folks with the cameras -- everyone here needs their community banks to be strong because they need access to capital, folks need mortgages, they need to borrow money for cars. And when our banking industry is strong, everybody else here does better. And we've made some real good progress on that the last couple weeks.

Donald Trump

00:18:12 - 00:18:13 (1 sec)

Good job. Sonny?

Sonny Perdue

00:18:13 - 00:18:35 (23 sec)

Mr. President, I've told you before, but your deregulatory agenda, as well as your trade agenda for American agriculture, has been tremendous. The farmers, ranchers, and foresters of America appreciate what you've done and understand that your heart for rural America is greater than they've seen. They understand that you've got a heart for the working men and women who produce our food and fiber out here.

Donald Trump

00:18:35 - 00:18:38 (3 sec)

Thank you, Sonny. Thank you. Would you like to say --

Neomi Rao

00:18:38 - 00:19:00 (22 sec)

Sure. I think, Mr. President, one thing that we could highlight is that regulatory reform is in part about furthering individual liberty and the rule of law. And Americans are hardworking and productive, and when government gets out of the way, we can see that jobs are created, businesses grow, and innovation flourishes, which benefits, really, all Americans. So thank you for that.

Donald Trump

00:19:00 - 00:19:01 (1 sec)

Well stated. Thank you very much.

Donald Trump

00:19:01 - 00:19:06 (4 sec)

Well, thank you all very much. We'll talk for a little while. And we appreciate it. Thank you all very much.

Donald Trump

00:19:06 - 00:19:10 (4 sec)

Congratulations on 2 million miles. Two millions miles -- that's a lot of miles.

Question

00:19:10 - 00:19:26 (16 sec)

Mr. President, you talk about unnecessary regulations, but earlier this week, your administration proposed a new regulation on the drug industry, in terms of the price of drugs being disclosed in their television advertisements. So, for you, sir, what's your criteria to make a determination between unnecessary and necessary --

Donald Trump

00:19:26 - 00:19:39 (12 sec)

It's a very simple criteria: We want to get drug prices down. And we're going to have advertising -- subject to final approval, we're going to have advertising of drug prices so that people can see how much drugs are, and they can price them.

Donald Trump

00:19:39 - 00:19:51 (12 sec)

Right now, you're not allowed. In fact, pharmacies aren't even allowed to talk about prices. They're not allowed to talk about competitors. They're not allowed to say that, "Well, this drug is this much, and this drug is that much." You know that. It's against the law.

Donald Trump

00:19:51 - 00:20:00 (9 sec)

We're opening it up so that these people have to be more competitive. And it's going to have a huge positive impact on drug prices, we think.

Donald Trump

00:20:00 - 00:20:16 (17 sec)

And so, essentially, even when they advertise on television, they're going to talk about the pricing. So when people are sitting at home, they can say, "Wow, that drug is X dollars, and this drug is the same drug by a different company, and it's here." I think it's going to have a huge competitive advantage. We're bringing drug prices down.

Donald Trump

00:20:16 - 00:20:31 (14 sec)

Not only did Pfizer and Novartis and others cut the price after I called them, and cut it very substantially -- and I thank them for that; they made a big price increase, and then they cut -- but we are now going to cut the price of drugs very, very substantially.

Donald Trump

00:20:31 - 00:20:34 (3 sec)

So I actually like that question. I'm very proud of that.

Question

00:20:34 - 00:20:38 (4 sec)

Well, I'll ask another one then, sir. [Laughter] Republicans generally have --

Donald Trump

00:20:38 - 00:20:40 (2 sec)

This is going to be a beauty, right? [Laughter] Go ahead.

Question

00:20:40 - 00:20:44 (4 sec)

Republicans generally have suggested that they don't want to pick winners and losers in the economy --

Donald Trump

00:20:44 - 00:20:44 (0 sec)

Question

00:20:44 - 00:20:54 (9 sec)

-- by putting their finger on certain industries to succeed and certain to fail. But you've taken a different approach. You've picked winners and losers in terms of steel and aluminum, coal, and --

Donald Trump

00:20:54 - 00:21:11 (17 sec)

No, not losers. No. I want to only pick winners. I want winners in our economy. Steel was -- we weren't going to have a steel industry. Steel is a very important, you know, category. It's not like -- let's say, even making that, or making a piece of wood that nobody knows where it's going.

Donald Trump

00:21:11 - 00:21:27 (16 sec)

We need steel. We need steel for defense. We need steel for many things. But maybe more importantly than anything, we need steel for defense and potential defense. We can't be buying our steel from China and from other places that maybe someday you have conflict with. Hopefully not.

Donald Trump

00:21:27 - 00:21:38 (11 sec)

We have reinvigorated our steel industry, and it's a tremendous thing. We've reinvigorated aluminum. Aluminum was a disaster. We have reinvigorated -- and others.

Donald Trump

00:21:38 - 00:21:57 (19 sec)

No, I want every business to thrive. Our miners now are thriving. Our miners now are absolutely thriving. And clean coal is a great thing. And it's another source. It has to compete against natural gas. It has to compete against a lot of different things, including solar and including wind and including all of those things.

Donald Trump

00:21:57 - 00:22:11 (14 sec)

Now, they're much, much more expensive, as you know. They're much, much more expensive. In fact, they need subsidy. And if you don't give them subsidy -- I don't like energy that needs subsidy. But if you don't give them subsidy, they don't work -- solar, wind, et cetera. They need massive subsidy.

Donald Trump

00:22:11 - 00:22:35 (24 sec)

You take a look at the money that was spent on these windmills that are killing all birds and lots of other problems, and destroying values. And I'm okay with -- I don't like giving subsidy to that, though. Especially when you have energy that's so abundant for 500 years. That's so abundant that, frankly, is in many cases one-tenth and even better than that -- the cost.

Donald Trump

00:22:35 - 00:22:42 (7 sec)

So -- but I'm for all industries. There's nothing that I don't like. I want it all working. That's why we're doing so well.

Question

00:22:42 - 00:22:46 (5 sec)

Mr. President, there's been concern you might have been giving cover to the Saudis.

Donald Trump

00:22:46 - 00:23:04 (17 sec)

No, not at all. No. I just want to find out what's happening. In fact, Secretary of State Pompeo is going to be back probably late tonight or early tomorrow morning. He went to Turkey; he went all over. But he spent a lot of time with the Crown Prince, and he's going to have a full report. I'm not giving cover at all.

Donald Trump

00:23:04 - 00:23:27 (23 sec)

With that being said, Saudi Arabia has been a very important ally of ours in the Middle East. We are stopping Iran. We're not trying to stop -- we're stopping Iran. We went a big step when we took away that ridiculous deal that was made by the previous administration -- the Iran deal -- which was $150 billion and $1.8 billion in cash. What was that all about?

Donald Trump

00:23:27 - 00:23:39 (13 sec)

And they are an ally. We have other very good allies in the Middle East. But if you look at Saudi Arabia, they're an ally and they're a tremendous purchaser of not only military equipment, but other things.

Donald Trump

00:23:39 - 00:24:02 (22 sec)

When I went there, they committed to purchase $450 billion worth of things, and $110 billion worth of military. Those are the biggest orders in the history of this country -- probably the history of the world. I don't think there's ever been any order for $450 billion. And you remember that day in Saudi Arabia where that commitment was made.

Donald Trump

00:24:02 - 00:24:12 (11 sec)

So they're an important ally, but I want to find out what happened, where is the fault, and we will probably know that by the end of the week. But Mike Pompeo is coming back; we're going to have a long talk.

Question

00:24:12 - 00:24:19 (7 sec)

Why not send the FBI over? We're talking about a man who lived across the river in Virginia. Why not send the FBI in to figure all this out?

Donald Trump

00:24:19 - 00:24:25 (7 sec)

Well, he wasn't a citizen of this country, for one thing. And we're going to determine that. And you don't know whether or not we have, do you?

Question

00:24:25 - 00:24:26 (1 sec)

Donald Trump

00:24:26 - 00:24:29 (2 sec)

No, but do you know whether or not we've sent the FBI?

Question

00:24:29 - 00:24:30 (1 sec)

Have you sent the FBI?

Donald Trump

00:24:30 - 00:24:31 (1 sec)

I'm not going to tell you. [Laughter]

Question

00:24:31 - 00:24:34 (3 sec)

Well, then I don't know. Why won't you tell us?

Donald Trump

00:24:34 - 00:24:36 (1 sec)

Why would I tell you? Go ahead.

Question

00:24:36 - 00:24:39 (3 sec)

Have you asked for this audio, video, intelligence that the Turks [inaudible]?

Donald Trump

00:24:39 - 00:24:41 (3 sec)

We have asked for it, if it exists. We have asked for it.

Question

00:24:41 - 00:24:42 (1 sec)

You have asked? But you haven't gotten it?

Donald Trump

00:24:42 - 00:24:44 (2 sec)

We've asked for it, if it exists.

Question

00:24:44 - 00:24:46 (2 sec)

Are you surprised that they haven't turned it over?

Donald Trump

00:24:46 - 00:24:53 (7 sec)

No. I’m not sure yet that it exists. Probably does. Possibly does. I'll have a full report on that from Mike when he comes back.

Question

00:24:53 - 00:24:54 (1 sec)

Thank you, sir.

Donald Trump

00:24:54 - 00:24:58 (4 sec)

That's one of the things I very -- that's going to be the first question I ask him.

Question

00:24:58 - 00:25:05 (7 sec)

Mr. President, there's been some talk after the midterms about spending being reined in up on the Hill. I'm curious, is there any programs that you'd like to see kind of reined --

Donald Trump

00:25:05 - 00:25:13 (8 sec)

Well, I will tell you that I'm having a Cabinet meeting in a little while, and we're going to ask every Secretary to cut 5 percent for next year.

Donald Trump

00:25:13 - 00:25:39 (26 sec)

And last year -- first year -- I had to do something with the military. The military was falling apart. It was depleted. It was in very bad shape. And that's why we went for two years -- $700 billion and $716 billion. And that took place over a period of two years. We have repurchased and purchased jets, missiles, rockets, all forms of military equipment -- ships, submarines.

Donald Trump

00:25:39 - 00:26:05 (26 sec)

We've rebuilt and are in the process of rebuilding our military to a level that it's never been before. I had to do that. In order to get the $700 [billion] and the $716 billion -- those numbers have never been heard of before -- I had to give the Democrats -- I call it "waste money." Things that I would never have approved. But we had to do that in order to get the votes, because we don't have enough Republican votes to do this without them.

Donald Trump

00:26:05 - 00:26:14 (9 sec)

So when you look at the border -- how bad it is -- that's because the Democrats want it to be bad because they don't give us the votes. That's why I hope we do very well in the midterm.

Donald Trump

00:26:14 - 00:26:18 (5 sec)

But we're going to be asking for a 5 percent cut from every Secretary today.

Donald Trump

00:26:18 - 00:26:33 (14 sec)

Okay, we're going to see you at the Cabinet meeting because you're coming in for a couple of minutes so we can discuss at length. And I just want to talk to these great folks and wish them best wishes. They've done a fantastic job and we really appreciate it. Thank you. Thank you. Great job.

Donald Trump

00:26:33 - 00:26:35 (3 sec)

Thank you very much. We'll see you in a couple of minutes.