Newscasts - Trump welcomes Canadian prime minister to White House 1
06/05/2025 20:05
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_91b1xl2t&referenceId=1_91b1xl2t&pageId=Newscasts Source: 'Reuters - Business videos' Description: Canadian Prime Minister Mark Carney meets Donald Trump in the Oval Office in a bid to reset a relationship he says has been undermined by the U.S. President's tariffs and talk of annexation. Short Link: https://refini.tv/43jNqCs Video Transcript: >> A store that has the goods. You're going to come and you're going to pay a price, and we're going to give you a very good price. We're going to make very good deals, and in some cases, we'll adjust. But that's where it is. And we've been ripped off by everybody for 50 years, and we're just not going to do that anymore. We can't do that. And we can't let any country do that to us. We're just not going to do it anymore. >> Can you tell us a bit more about the deal you've reached? >> No, it's not a deal. They've said, please don't bomb us anymore, and we're not going to attack your ships. >> Where did you hear about that? >> It doesn't matter where I hear. The very good source. Very, very good source. Would you say Marco, I would say pretty good, right, JD. A very good source. No, they don't want to be bombed anymore, thought that would happen. Behind you, please. >> [inaudible 00:01:09] US prepared to walk away for that pact. >> From what pact? >> USMCA. >> No, it's fine. It's there. It's good. We use it for certain things. It's there. USMCA is a good deal for everybody. I won't say this about Marco, but I didn't like his predecessor. I didn't like a person that worked. She was terrible, actually. She was a terrible person. And she really hurt that deal very badly because she tried to take advantage of the deal, and she didn't get away with it. You know what I'm talking about. So we had a bad relationship having to do with the fact that we disagreed with the way they viewed the deal, and we ended it. We ended that relationship pretty much. The USMCA is great for all countries. It's good for all countries. We do have a negotiation coming up over the next year or so to adjust it or terminate it. >> I'll say a word on USMCA, if I may, Mr. President. It is a basis for a broader negotiation. Some things about it are going to have to change, and part of the way you've conducted these tariffs have taken advantage of existing aspects of USMCA. So it's going to have to change. There's other elements that have come, and that's part of what we're going to discuss. >> During the campaign, Prime Minister Gordon talked about the American [inaudible 00:02:35]. How do you react Canada decided not to shop in the American store as much as before and decided to partner with other countries? >> Well, we don't do much business with Canada from our standpoint. They do a lot of business with us. We're at 4%, and usually those things don't last very long. We have great things, great product, the product we sell, nobody else can sell, including military. Look, we make the best military equipment in the world, and Canada buys our military equipment, which we appreciate. But we make the best military equipment in the world by far, the missiles, the submarines, everything. Everything we have is really top notch. I rebuilt our military during our last term. Stupidly, we gave some away to Afghanistan, which shouldn't have happened. I think it was the most embarrassing moment in the history of our country. It was just very incompetent people. But if you look, the man that's now the head of our joint chiefs, he led the attack on ISIS for me. That's why he's the head of the Joint Chiefs and Raisin Kane. He was unbelievable. And as you know, we defeated ISIS in three weeks, it was supposed to take five years. We did it in three weeks. And he ran the campaign. I said, I like him. But I knew him before. I went to Iraq, and we agreed to a plan, and that was the plan. And as you know, we did it in record time. So we have the best equipment in the world, we have the best, a lot of things. But Canada does a lot more business with us than we do with Canada. >> Mr. President, when do you think the investments that you've announced to trillions will finally hit economic data this year? >> When you're saying about the tariffs? >> No, about the investments that you've announced. >> It's hitting right now. Look, they're already starting AI plans. These are not people that look for financing. That's a good thing. In real estate, you get a site, then you have to look for financing. You have to get your zoning, five years later, you start building, you get a bank, then the bank is no good. These people have massive amounts of cash. The CHIPS Act was a ridiculous thing because that doesn't get them to build. All we did is hand very wealthy companies money, the CHIPS Act that was done by Biden. We give them billions of dollars. They don't even have to do anything with it. And I don't want to be a wise guy, but if you didn't go with DEI, if you didn't go with all of the different things, work, if you weren't work, you couldn't even use the money. You had to have a certain percentage of this and that and that and that it's impossible to have. The companies actually complained to me. They said they gave me all this money but nobody can get these people to do anything. Look, President Obama, and if he wanted help, I'd give him help because I'm a really good builder, and I build on time on budget. He's building his library in Chicago. It's a disaster. And he said something to the effect, I only want DEI. I only want work. He wants work people to build it. Well, he got work people. And they have massive cost overruns. The job has stopped. I don't know. It's a disaster. And I don't like that happening because I think it's bad for the presidency that a thing like that should happen. He's got a library that's a disaster. And he wanted to be very politically correct, and he didn't use good, hard, tough, mean construction workers that I love Marco. I love those construction workers. But he didn't want construction workers. He wanted people that never did it before, and he's got a disaster in his hands. Really many millions of dollars over budget. And I would love to help him with it, or somebody else I could recommend professionals, but it was not built in a professional manner. By the way, nor was in California. A little train going from San Francisco to Los Angeles that's being run by Gavin Newscom the governor of California. Did you ever hear of Gavin Newscom? That train is the worst cost overrun I've ever seen. It's like, totally out of control. So then they said, we won't go into San Francisco. We'll stop 25 miles short, and we won't go into Los Angeles. We'll stop 25 miles short. It's hundreds of billions of dollars for this stupid project that should have never been built. And then they realized that it would have been a lot less costly if we just gave limousine service back and forth and gave it free. They would have saved hundreds of billions of dollars. They have airplanes that go there for 1/100 the cost. And they have cars. They have a thing called the highway that goes back and forth, that's not fully utilized. And they got involved with this project. I always liked Gavin, I had a good relationship with him. I just got him a lot of water. I sent in people to open up that water because he refused to do. And we just got them a lot of water. They would have had that water, and if they would have done what I said to do, they wouldn't have had the fires in Los Angeles. So the fires would have been put out very quickly. But if you think about it and you got to take a look at this project, it's the worst cost overrun I've ever seen. I've watched a lot of stupid people build a lot of stupid things, but that's the worst cost overrun I've ever seen, what's happening between San Francisco and Los Angeles. And you ought to ask about that because this government is not going to pay. I told our very great new Secretary of Transportation, he's doing a good job, Sean Duffy. I said, we're not going to pay for that thing. It's out of control. This is something that you don't have things like this. It's not even conceivable, like 30 times over budget. It's the craziest thing. It was supposed to be a simple train and I think the media should take a look at it. And I'd love him to run for president on the other side, I'd love to see that. But I don't think he's going to be running because that and the fires and a lot of other things pretty much put him out of the race. >> What changes would you like to see to USMCA? >> We're going to work on some subtle changes, maybe. I don't even know if we're going to be dealing with USMCA. We're dealing more with concepts right now. Look, right now, we're doing trade. We have trade. They're paying a tariff on cars and steel and aluminum. And I think we have a baseline of 10% or something like that for the tariffs, but we're getting along very well. Right now, going no further, but we have an agreement. We did something with even parts. You want to discuss that, Howard, with respect to Canada, which helps Canada out. >> Sure. So we've made an arrangement with the car companies that 15% of their USMCA parts are included, and then 15% of foreign parts from the manufactured suggested retail price are not tariff to help domestic manufacturing really thrive. So it gave them a chance to be able to build their car parts, factories. A lot of these companies already have factories, and what they have to do is just fill them out. But they're able to build them in the United States. So we gave them a pretty substantial period of time. >> Mr. President, is there anything the prime minister can say to you today to change your mind on tariff in Canada? >> Tariff in cars? >> Tariffs in Canada. Is there anything he can say to you in the course of your meetings with them today that would get you to lift tariffs on Canada? >> No. >> Why not? >> Just the way it is. >> Canadians don't want it. Would you respect that? >> Sure, I would. But this is not necessarily a one day deal. This is over a period of time, they have to make that decision. Yes, go ahead,. >> Yeah, if I may. Well, respectfully, Canadians view on this is not going to change on the 51st state. Secondly, we are the largest client of the United States in the totality of all the goods. So we are the largest client in the United States. We have a tremendous auto sector between the two of us and the changes that made have been helpful. 50% of a car that comes from Canada is American. That's not like anywhere else in the world. And to your question about, is there one thing? No, this is a bigger discussion. There are much bigger forces involved. And this will take some time and some discussions. And that's why we're here to have those discussions, and that is represented by who's sitting around the table. >> And this is very friendly. This is not going to be like we had another little blow up with somebody else. That was a much different. This is a very friendly conversation, but we want to make our own cars. We don't really want cars from Canada. And we put tariffs on cars from Canada, and at a certain point, it won't make economic sense for Canada to build those cars. And we don't want steel from Canada because we're making our own steel, and we're having massive steel plants being built right now as we speak. We really don't want Canadian steel, and we don't want Canadian aluminum and various other things because we want to be able to do it ourselves. And because of past thinking of people, we have a tremendous deficit with Canada. In other words, they have a surplus with us. And there's no reason for us to be subsidizing Canada. Canada is a place that will have to be able to take care of itself economically. I assume they can. I will tell you that Trudeau, when I spoke to him, I used to call him Governor Trudeau. I think that probably didn't help his election. But when I spoke to him, I said, so why are we why are we taking your cars? We want to make them ourselves. I said, and if the price of your cars went up or if we put a tariff on your cars of 25%, what would that mean to you? He said, that would mean the end of Canada. He actually said that to me. And I said, that's a strange answer, but I understand his answer. It's hard to justify subsidizing Canada to the tune of maybe $200 billion a year. We protect Canada militarily, and we always will. That's not a money thing. But we always will. But it's not fair. But why are we subsidizing Canada, $200 billion a year or whatever the number might be? It's a very substantial number. And it's hard for the American taxpayer to say, gee whiz, we love doing that. Thank you very much. >> Hey, I think this is yours, Jay's. >> He left the mic there. >> Well, I told it was on the mic stand. >> So did he put a mic or not? >> Well, matter of fact, this is it. >> [inaudible 00:17:29] RE-50. So this is it. >> That's it. >> I'm going to ask if he has anything to say, "Hey, where's my microphone?" >> [inaudible 00:34:06] [FOREIGN] [FOREIGN] >> [inaudible 01:11:59] >> You don't have the power? >> [inaudible 01:12:50] >> I'm going to stand right here and see if he'll say something, or maybe don't. You know what? I bet I can get one of the ministers [inaudible 01:12:57]. The ministers know me. Prime minister [inaudible 01:12:59] I'm going to take a long shot and try and ask the question, maybe a minister will come over. Do you have a mic or the sound pack for him for the spot? >> Sound bag. >> Sound bag? Might as well try, right? >> Just get my sound bag. >> Now, I know you're wearing a bag, so we're going to treat everything like a [inaudible 01:13:27]. How was your experience? Have you been in the [inaudible 01:13:31] before? >> I was [inaudible 01:13:33] >> Here it comes. I think it's too late. I think we just got to shoot it. Am I blocking someone's spot? >> No. >> You tell me to move. You're kind. I appreciate you. We're Canadian. We're very polite. Hey, nice to see you. >> Nice to see you, too. >> [inaudible 01:14:50] >> Pardon. >> [inaudible 01:14:55]. That's much more important. >> [inaudible 01:15:23] is right here. Sorry. Oh, am I in your way? >> No, a little. >> Kind of? Let me speak out. I'm sure he won't promote it, but we're going to try it. As we do. >> Hi, Joshua. I will find a spot. Sorry call you on my real [inaudible 01:20:04] over there. But I'm wonderful. >> Yes. >> Kerry, is he en route? >> Oh, yeah. >> No, but you know what? I wouldn't be surprised some Canadian cabinet ministers came over. But I don't because this is American Turf, they might not want to this is the White House might perceive to be disrespectful. I don't know. This is where all the cools. >> Right. Okay. Yeah. There you go. >> I'm looking right at. >> All right. Sorry about that. That's great. And here tomorrow. >> Kerry, anytime soon? >> Soon. >> What does that mean? >> [inaudible 01:28:54] >> Okay. I go do a hit at 2:00, and I don't think I can make it. I think they're gonna have to push down in the lineup. Yeah, that'll go real well. Real well with the networks. Considering I've worked for, like, multiple of them, I'll go real well. Hello. >> Hello. >> Sure. >> No, Kerry. He's not. Hold on. Josh, was looking for you. >> Yeah. >> Thank you. Minister McGuinty. >> [inaudible 01:39:19]. >> Does that work? Marco. Minister LeBlanc. Get you to come over [inaudible 01:40:00]. You want to come over for a chat? Come on, it'll be great. >> [inaudible 01:40:57]. >> You know what? If they're not going to come over, I'm mostly here because I was hoping to get them, and they're not going to come over because they're going to talk later. So I can probably us get there. Basically, I'm doing that [inaudible 01:43:40]. Please come over here and chat with us. >> Prime Minister, how did the meeting go, sir, with President Trump? Oh, no.