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00:00Howard, go ahead.
00:01So the UK is the sixth largest economy in the world
00:05and the fourth largest that we export to, right?
00:10So it's a huge market, a top 10 market.
00:13If you remember Liberation Day, they were at 10%
00:17because we have balanced trade with the UK, right?
00:21They say they have a surplus, but of course, that counts gold bullion, which is...
00:25So let's just call it balanced trade.
00:27So how do you open up a market in balanced trade?
00:30People think it's impossible.
00:31They've always thought it was impossible
00:33until President Trump came on the scene and changed the way things work.
00:38So here's what we've got.
00:39We've opened up new market access, ethanol, beef, machinery,
00:45all the agricultural products.
00:47They've agreed to open their markets,
00:49and that will add $5 billion of opportunity to American exporters.
00:54So the question is, why would they do that now?
00:58Because they've never done it before.
00:59And we still have a 10% tariff on,
01:02which will produce $6 billion of revenue for the United States.
01:06So the idea was, how do they keep their jobs,
01:09protect their economy,
01:11and do the best for their people while opening the market for us?
01:14And the way is they studied it, their team was exceptional,
01:18and they tried to figure out the markets that they're importing from other people
01:22and try to send them over to America.
01:25So why were they always favoring others and not us?
01:28And what they've done is they've found the ways to do that
01:31so that we have new access, right?
01:35But the UK workers are protected, and that was the balance.
01:39So you've got, we did a deal with them in automobiles.
01:42And you know, if you're not building here, we charge you a 25% tariff.
01:47But the president, and by the way, I want to make this clear.
01:50While Jameson and I worked hard, this was the president's deal.
01:53And people think, oh, that's not the way it works.
01:55If you got to sit next to him, I have the best dealmaker to my left.
02:00And if you don't think that we take advantage of him
02:03calling the prime minister and getting that deal done,
02:05you don't understand who's the president of the United States.
02:08So he's the closer.
02:10He gets deals done that we could never get done
02:13because he understands business.
02:15He understands deals.
02:16And that's why we're here today.
02:19So he agreed they could send 100,000 cars into America
02:24and only pay a 10% tariff.
02:27And that protects their car industry.
02:29And remember, we do 16 million cars a year.
02:32So this is only like 0.6%.
02:34But for the UK auto people, this is tens of thousands of jobs
02:40that the president agreed that he would protect for them.
02:43So he made that deal, right?
02:45Then steel and aluminum, right?
02:47Their steel business has been destroyed like everybody else has been destroyed
02:51by people dumping steel into their markets.
02:54And British Steel had announced it was closing down.
02:57So the British government, as part of this deal,
03:00nationalized British steel,
03:02and they're going to match the kinds of models we do.
03:05They'll put tariffs on.
03:06They'll put quotas on.
03:07They want to do it with America
03:09so they can be part of the resurgence of steel and aluminum in America.
03:14And that saves them, again, thousands and thousands of jobs.
03:18So if you go step-by-step,
03:20aero and commercial planes,
03:24they sell Rolls-Royce engines to Boeing.
03:26We've agreed to let Rolls-Royce engines
03:29and those kind of plane parts to come over tariff-free.
03:33And what you're going to hear today
03:34is there's going to be an announcement in the UK
03:37that they are buying $10 billion worth of Boeing planes later today.
03:43But I'm going to let the name of the airline announce it
03:46because that's theirs to do it.
03:48Part of this deal was always to do it together
03:51and to do it strong.
03:52And you can see the numbers on this board.
03:54Everything about this board works exceptionally well
03:57for the United States of America.
03:58It lays out the plan that you can work with us in autos.
04:02You can work with us with aero and commercial.
04:04You can work with us in pharmaceuticals
04:07if you have a supply chain
04:08that is secure and protected in national security.
04:11So we feel really good about the deal.
04:14You've heard the prime minister.
04:15He feels really good about the deal, right?
04:17And we started at 10% and we ended at 10%.
04:20And the market for America is better.
04:23And this is a perfect example
04:25of why Donald Trump produced Liberation Day.
04:28People don't understand he gets things done.
04:32In a matter of time,
04:33this would have taken Jameson and I
04:35three years, maybe.
04:38And instead, we got it done in 45 days,
04:41certainly, because we work for Donald Trump.
04:44So Jameson, my partner in all this,
04:46maybe Jameson, you'd like to talk a little
04:47and then we'll turn it over.