Undeterred by a stock market collapse that has continued for days, President Donald Trump threatened additional tariffs on China on Monday, raising fresh concerns that his drive to rebalance the global economy could intensify a financially destructive trade war.
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00:00Would you be open to a pause in tariffs to allow for negotiations?
00:07Well, we're not looking at that.
00:09We have many, many countries that are coming to negotiate deals with us, and they're going
00:14to be fair deals.
00:15And in certain cases, they're going to be paying substantial tariffs.
00:20They'll be fair deals.
00:21As you know, I spoke this morning with the Prime Minister of Japan, and we had a very
00:27good conversation.
00:28They're coming, and I said, one thing, you're going to have to open up your country because
00:32we sold no cars, like zero cars in Japan, and they sold millions of cars into our country.
00:40They don't really take our agriculture, a little bit of it just to keep us slightly
00:43happy, but they don't take what they're supposed to be taking.
00:46So we have a great relationship with Japan.
00:48We're going to keep it that way.
00:49But they're coming in to meet, and other countries are coming in.
00:54With China, as you know, against my statement, they put a 34% tariff on above what their
01:02ridiculous tariffs were already.
01:05And I said, if that tariff isn't removed by tomorrow at 12 o'clock, we're putting a 50%
01:11tariff on above the tariffs that we put on.
01:15So they've gone for years.
01:16They've become a rich country because of people, again, that were in the White House that allowed
01:20this to happen.
01:23Hundreds of billions of dollars a year they're making us on trade, and it shouldn't be that
01:27way.
01:28And I have a great relationship with President Xi.
01:30I hope it's going to stay that way.
01:32I have great respect for China, but they can't do this.
01:36We're going to have one shot at this, and no other president is going to do this, what
01:40I'm doing.
01:42And I'll tell you what, it's an honor to do it because we have been just destroyed what
01:48they've done to our system.
01:50You know, we have $36 trillion of debt for a reason.
01:54And the reason is that people allowed it to get that way.
01:57So we'll be talking to China.
02:01We'll be talking to a lot of different countries.
02:04And I think, you know, if if we can make a really fair deal and a good deal for the United
02:10States, not a good deal for others, this is America first.
02:13It's now America first.
02:15And we didn't put America first.
02:16We put America last.
02:18The people that were in the Oval Office put America last, and we're not going to stand
02:22for it.
02:23Yes.