At his Cabinet meeting, President Trump discussed a possible deal with China.
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NewsTranscript
00:00Great job. We appreciate it. Any question?
00:02Mr. Mr. President, can you give us a reaction to today's stock market drop and also give us a sense of the next steps with China?
00:10Well, I haven't seen it because I've been here for two and a half hours, so I'll be saying it.
00:15I think Scott went out. Scott, do you want to have a statement on that?
00:19Sure. Look, the up two, down one is not a bad ratio, or up ten, down five.
00:25And I think as we have talked about, as we go through the queue and settle with these countries who are going to bring us their best offers,
00:37we will end up in a place of great certainty over the next 90 days on tariffs.
00:43But we had very good inflation numbers today. Oil's down. We had a successful bond market.
00:49So I don't see anything unusual today.
00:52And next steps for China, sir?
00:53Well, we'll see what happens with China.
00:57We would love to be able to work a deal.
01:02They've really taken advantage of our country for a long period of time.
01:06They've ripped us off beyond anybody, nobody.
01:09How people stood for it, sitting in my position, is not even believable.
01:15And we're talking about many presidents, not just a couple.
01:18But they did, and all we're doing is putting it back in shape.
01:23We're resetting the table.
01:26And I'm sure that we'll be able to get along very well.
01:30I have great respect for President Xi.
01:32He's been, in a true sense, he's been a friend of mine for a long period of time.
01:36And I think that we'll end up working out something that's very good for both countries.
01:42I look forward to it.
01:43Mr. President Xi, you're on the other side.