TRANSCRIPT: President Trump Speaks to Reporters on Board Air Force One, 10.28.25
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President Donald Trump: [In progress] -- to Japan, and it was, uh, really wonderful. Malaysia, fantastic. Uh, hundreds of billions of dollars are coming into our country primarily because of the election result, but, uh, the real reason is tariffs. The tariffs are coming in. And as you know, last night I was with, uh, a lot of the greatest leaders in Japan, the biggest business people, and Mr. Toyota was there from Toyota, and he's agreed to invest $10 billion in building auto plants. They're gonna build numerous auto plants throughout the United States with American workers, as you know. And, uh, it's a tremendous -- It'll be one of the biggest investments ever in the auto business. This isn't just AI. This is in the auto business. So, uh, and that was because of tariffs. This way, he -- It's the old story.
If you're building the United States, you don't have any tariffs. So everyone's coming in. We're up to close to $20 trillion of investment. And, uh, yesterday, as you saw, we picked up about $518 billion. These are big numbers. These are numbers that no country has ever seen before. And, uh, we're now going, as you know, to South Korea. Then I'm meeting tomorrow with President Xi.
Question: Mr. President, sir, on the Xi meeting, uh, are you expected or do you anticipate being willing to lower the fentanyl related tariffs?
Trump: Yes, I expect, I, I expect to be, uh, lowering that because I believe that they're gonna help us with the fentanyl situation. They're gonna be, uh, doing what they can do.
Question: And on the rare earth curve, sir, do you need to see more than just a one-year delay? Is that sufficient to, to make other concessions?
Trump: I don't know. We, we haven't talked about the timing yet, but, uh, we're gonna work out something. We're doing very well with rare earth, as you know, and we're, I think, going to make a big step with fentanyl. The, the thing with fentanyl, the border is now so tight, it's much tougher for them. Uh, we've been doing very well with that. Uh, the, uh, I call 'em the drug by sea. You know, the, the boats, we took out four of 'em over the last few days, and they're really stopping. They're not coming anymore. They're coming by land. But to a lesser extent, that if necessary, we're gonna -- Well, it will be necessary probably, but we'll be hitting 'em at land.
But the boats are very, uh, few and far between. The, uh, we took in tremendous amounts of death. I call 'em the boats of death. Tremendous amounts of death coming into our country. And each just -- It's estimated, I don't know if this is exactly right, but it's pretty close. 25,000 people die from each boat that we take out, if it had gotten back, if it had gotten to, our country. Kills 25,000 people. Not even talking about the destruction it does to families in terms of people that are become addicted and all of the problems caused by, to families. So, uh, and over the last two days, I guess we took out four, but there are very few of them. There are very few of them now. That's down, I hear that's down about 80% by water, the drugs by water down, as you know, about 80% down. And I would imagine it's gonna be pretty close to a hundred percent. Nobody wants to do it. And, uh, we'll be -- And we already are, we're stopping them on land also.
Question: Sir, what is China --
Trump: We're actually making our country safe. Think about it. I'm just saying it as I speak to you very simply, we're making our country safe. It's beautiful thing.
Question: Sir, what is China doing to justify removing fentanyl tariffs?
Trump: Well, I think they're going to do things that -- You know, they have an industry that has to do with drugs, and the fentanyl has other reasons for being, and, uh, we have to get rid of it. We have to stop it. And now we're stopping it at the border to a very much larger extent than ever before. Under Biden, you had open borders. This stuff was flowing in. I think they killed 300,000 people last year, fentanyl, drugs coming through the southern border, and now nobody gets through the southern border. We just had another, uh, report of a zero, zero people came. We, we are very tough in the border and we're allowing people into our country, but they're coming in legally through the legal process.
Uh, and I wanna commend, I have to tell you, our border agents, our border patrol agents, they've been amazing. And ICE, these people do such a great job. What they're doing, Memphis is making tremendous progress, as you know, is extremely dangerous. And already it's down to less than 50%. A lot of criminals, career criminals, people that came in illegally have been brought back to their countries and, uh, never to come back again. We tell 'em, "If you come back again, it's gonna be brutal."
Question: Sorry, just to clarify, so China's gonna be working with US law enforcement on Fentanyl, or how is that gonna work?
Trump: China's gonna be working with me.
Question: Okay.
Trump: Okay. They're gonna be working with me, and we're gonna do something, I believe, I mean, look, we have to have the meeting, a meeting tomorrow. That's a big meeting. And fentanyl will be one of the things that we're discussed, important. We'll be discussing the farmers, we'll be discussing a lot of things, but fentanyl will be one of the things we're discussing.
Question: Sir, what did you mean last night when you said you were prepared to send more than the National Guard into American cities?
Trump: Sure, I would do that if it was necessary. You know, I, if it was necessary, I'd do that, but it hasn't been necessary. We're doing a great job without that. But yeah, if it was necessary. As you know, I'm allowed to do that.
Question: Do you mean the branches of the military you would send in, or?
Trump: If it -- Who do you, who are you with?
Question: The New York Times?
Trump: Well, if you write it correctly, I'll give you the answer. But, you know, if I want to enact a certain act, I'm allowed to do it routinely. And, uh, other, about 50% of presidents have used that, as you know, and, uh, I'd be allowed to do whatever I want. But we haven't chosen to do that because we're very well, we're doing very well without it. But I'd be allowed to do that. You understand that? And that the courts wouldn't get involved. Nobody would get involved. And I could send the Army, Navy, Air Force, Marines, I can save, send anybody I wanted, but I haven't done that because we're doing so well without it. Washington DC continues to be amazing, safe, and, uh, it's really great. As I said, Memphis, where we are now, is doing really well.
It's down, I think almost 70, 60, 70%. And within two, three weeks, it'll be down to almost no crimes. Now, we're taking a lot of bad people out. We're incarcerating some very bad people, some gangs, and a lot of bad gangs there and we're taking care of it. And we're doing things that frankly, law, local law enforcement's gonna have a hard time doing. But we were all set to go last Saturday into San Francisco. We look forward to that. We would've, we would've solved that problem in less than a month. But at the behest of a couple of, uh, really great people, very successful, great civic-minded people, they said, "We'd love to try doing it ourselves." And that's okay. And, uh, we worked with the mayor and we're working with those people, but we didn't surge the city. And I said, we surge, it's gonna go a lot quicker. And it's, uh, much more effective. But I want to give them a chance to do it themselves if they can. If they can't do it themselves, we'll, we'll solve San Francisco at the wings.
Question: Mr. President, on the southern, on the southern border, Claudia, uh, President Sheinbaum of Mexico said that the tear of truce with the US has been extended for talks. How long are you willing to wait for that to play out? What's your status?
Trump: Well, I like the extension with Mexico, because, you know, we're doing very well with that extension. We get a lot of tariffs. Uh, they're paying a lot of money. As you know, a lot of car companies are moving from Mexico, back into the United States. They took our car companies a long time ago, 30 years ago, and, and more. We lost about 57% of our automobile manufacturing over the decades and it's all coming back because of tariffs. It's all coming back. And the tariffs are really, national security as much as anything else. It's national security in many ways. But one of the ways that it's national security, is we're building up great wealth because of tariffs.
And that, you know, you need wealth to be secure, but it's, uh, in the more traditional sense, also national security, very important. Uh, but we're bringing back our, uh, auto plants that deserted us 20 to 30 years ago. They're all coming back. Uh, last night, I met with Mr. Toyota and we had an amazing meeting. I said, "What's your name?" "Toyota." And I said, "You're rich." And he's going to invest, think of this, $10 billion in the United States to build manufacturing plants. Uh, they'll build their cars with American workers, largely. I mean, they have the right to send some experts, but, uh, they're gonna be building cars in the United States.
So we are getting all of our manufacturing back in the car business. And AI, we're leading China, we're leading the world in AI. We're getting them rapid approvals on energy, on the, their, their, their -- I've allowed them to produce their own energy for each plant, so that rather than relying on a cold and somewhat weak grid, the electric grid, they build their own energy. And then if they have excess energy, they sell it back into the grid. So it's great. It's, uh, it's really worked out well. It's, it's allowing them to build rapidly and they're building all over the United States.
Question: In the midst, sir, could we get your reaction to Israel striking in Gaza again?
Trump: Well, as I understand it, uh, they took out an Israeli soldier. Uh, it was just, uh, I just heard about it a little while ago. They took out and killed an Israeli soldier. So the Israelis hit back, and, and they should hit back. When that happens, they should hit back.
Question: So do you think that wor- -- does that worry you about the, the ceasefire? Does that jeopardize the ceasefire in any way?
Trump: No, no. Nothing's gonna jeopardize. That's, you have to understand, Hamas is a very small part of piece in the Middle East and they have to behave. They're, uh, on the rough side, but they said they would be good. And if they're good, they're gonna be happy. And if they're not good, they're gonna be terminated. Their lives will be terminated and they understand that. And we have many countries that are willing to do that. You know, we have many countries. Even Japan today said, "We'd love to be involved in the Middle East and we can help you by sending anybody," but by sending people, including experts. But we have many countries that would do that, not just Israel.
No, that's a very strong piece. Uh, Hamas is a small thing, but they kill people. They grew up killing people. And I guess, uh, they don't stop. But, uh, the, nobody knows what happened to the Israeli soldier, but, uh, they say it was sniper fire. And, uh, they, it was retribution for that and I think they have a right to do that.
Question: Is it possible that there are fringe elements within Hamas that are trying to undermine this?
Trump: Because we actually met with people that were leading it, and they really want to see, and they really, in my opinion, based on the experts that dealt with them, uh, I think they're unhappy when they see some people being killed.
Question: Will Hamas decommission --
Trump: Not like it was, but some people being killed, we don't want that.
Question: Will Hamas decommission its weapons. That's a key part of the next step with this.
Trump: That's started because we're getting into phase two, and that's started. You have to understand, Hamas is a very small part of the overall Middle East peace. We have peace in the Middle East. Uh, if Hama -- If we have to, we'll take out Hamas very easily, and that'll be the end of Hamas. Uh, we would rather not.
Trump: We made a deal with them where they were gonna behave, and they have to behave. If they don't behave, they get taken out. And it could be from numerous countries, it could be from Israel, but it could also be from other countries. Numerous countries have already called me, that are parties to the deal, and said, "We'd love to do it if you'd want us to do it." And these are powerful countries. These are not countries to be toyed with.
Question: Sir, what's your reaction to North Korea test-launching a missile this morning?
Trump: What did you say?
Question: Uh, North Korea test-launched missiles this morning? What's your reaction to that? Missiles, the North Korean missiles?
Trump: Oh, I don't know. They've been launch -- He's been launching missiles for decades, right? It's just another missile that was launched. Uh, I always had a very good relationship with him. So, you know, at some point I'll be meeting -- It's -- The schedule is very tight, as you know, but at some point I look forward to -- We had a very good relationship. I mean, more than a relationship. We had a really good understanding of each other. We met, we spoke to each other a number of times, and good relationship. At some point we'll be involved with North Korea.
Question: That means, or not. Meeting with Kim Jong Un this trip?
Trump: I don't know. The people are trying. I think they'd like to, and I'd like to, but I also want to focus on China. My -- I mean, our focus is now on tomorrow with China, and I want to make that the focus, but we'll come back, and we'll, at some point in the not-too-distant future, meet with North Korea.
Question: How much do you expect Xi to try to push you on Taiwan?
Trump: I don't know that we'll even speak about Taiwan. I'm not sure. I mean, he may want to ask about it.
Question: Are you going to Jinping?
Trump: There's not that much to ask about it. You know, Taiwan is Taiwan, but the beautiful part about Taiwan, frankly, and they understand it, is we're bringing a lot of those chipmakers into the United States. If you look at the number one chipmaker in the world, they're building a massive factory in Arizona, the biggest in the world, actually, by making chips. Uh, if you look at, uh, NVIDIA, NVIDIA is doing unbelievable. We're bringing a lot of, a lot of, uh, the Taiwan business back to the United States. I think by -- Within two years, I think we'll have 40 to 50% of the chip market. But that's happening, and I don't know it's happening because of the tariffs.
It's also happening because of the fact they probably, maybe they're a little bit concerned about things, who knows. But they are, they are, you know, tremendous. I don't know if you're reporting it, but massive numbers of and percentages of the chip business is coming back right now as we speak. They're building plants in Arizona, Texas, and other places.
Question: With chips, sir, uh, have you agreed or will you agree with Xi potentially to allow the license of more exports of NVIDIA Blackwells or downgraded?
Trump: Blackwell, we'll be speaking about Blackwell's super duper chip.
Question: Yeah,
Trump: Blackwell's amazing. NVIDIA makes it, and Jensen is an amazing, brilliant man, uh, and it's probably 10 years ahead of any other chip. And unlike a lot of other businesses, you just can't catch it. You know, it's, uh, mostly you can copy and you can do things you really can't in the chip business for whatever reason, that doesn't work that way. But, uh, Blackwell just came out. Jensen presented me with the first Blackwell chip three days ago in the Oval Office. And, uh, it's an amazing thing that they've done, but we're -- You know, that's our country. We're, uh, about 10 years ahead of anybody else in chips in the highly sophisticated chips. I think we may be talking about that with President Xi Jinping.
Question: China's actually discouraged sale, uh, purchase of those chips. Is that something that's on that table?
Trump: Well, China actually, uh, terminated the relationship with NVIDIA. That was a big thing. But, but in the meantime, NVIDIA hit a brand new high as did -- You know, the stock market yesterday hit the highest ever that it ever was. So we're doing all of the markets. I mean, every one of our markets, see, uh, we're doing great. The country is doing great. We have the shutdown caused by the Democrats, and at some point, they'll get -- Uh, they'll, they'll come back. I, I think they, I think they're getting just killed right now. But, uh, all they have to do is say, "Let's get back to business," and we're back. There's nothing to sign. There's nothing to negotiate.
Question: Sir, Melissa, Hurricane Melissa, uh, have you been following that? The Jamaican government?
Trump: Because I've never seen numbers like that. I saw it a little while ago, 195 mile an hour wind. I've never seen that before. I've never seen -- I guess it can get that high, but I've never seen it. And it's literally just, you know, knocking down everything in front of it. It's a, it's a Stage 5, I guess, and you don't see Stage 5. You don't see five very often. You see fours and threes, but this is a five early on, meaning it gets worse. So it's done a tremendous job. You mean on Jamaica?
Question: Is the United States going to aid Jamaica then?
Trump: Humanitarian basis, we have to. So we're, we're watching it closely and we're prepared to move, but, uh, you know, it's, it's doing a tremendous damages as we speak. It's, it's right there, right now.
Question: In the market for cause, like some experts warn about an AI bubble. Are you concerned?
Trump: What's the AI problem?
Question: That's what some experts say that some investments are -- Some investors are overreacting.
Trump: Everybody wants AI because it's, it's the new internet, it's the new everything. It's, uh, one of the biggest things anyone's ever seen. So everyone wants it. Yeah, I mean, the only problem is if you don't get it. In order to get it, you have to be able to produce tr- -- tremendous amounts of electricity. And we're allowing them to produce and make their own electricity this way so they don't have to rely on government. And, and by the way, they're making electric plants that are so sophisticated and so incredible, so much beyond that companies that make in-service electricity, you know, the Con Edison, all the different companies that do that and do it well, but they've never seen anything like what's happening. It's almost a revolution in the making of electricity at the level of sophistication.
Question: Sir, Speaker Johnson says that he told you that there's no time to amend the constitution to allow you to serve a third term. Is that an accurate representation of the conversation you have?
Trump: I don't know. I don't want to even talk about that because, you know, the sad thing is I, I have my highest numbers that I've ever had. As I said, I ended eight wars and we have the greatest economy in history. And by the way, energy prices are way down. Everything's way down. Beef is a little bit high. We're gonna get beef down too, but prices are down and the economy's up. The only thing that's not down is the stock prices and the 401 case are through the roof.
Trump: Everyone's 401 case hitting records. So we have the greatest economy we've ever had. I have my highest bowl numbers that I've ever had. And you know, based on what I read, I guess I'm not allowed to run. So we'll see what happens.
Question: Speaker Johnson says you're trolling when you talk about a third term. Are you trolling or are you serious?
Trump: I don't think he said that. I don't think he used that term. But, uh, it's a very interesting thing. I have the, the best numbers for any president in many years. Any president. And I would say that if you read it, it's pretty clear I'm not allowed to run. It's too bad. I mean, stupid. But we have a lot of great people.
Question: Food stamps will stop to be, uh, be sent out on Saturday. The Department of Agriculture says they cannot tap into contingency funding to fund that. Is your administration -- Uh, food stamps, not benefits. Is your administration looking at --
Trump: Well, we're gonna get it done. Uh, the Democrats have caused the problem on food stamps. Of course course, all they have to do is sign. And you know, if they sign, I'll meet with them. They're all saying, uh, well, they actually said, "Trump is doing an amazing job in this trip." This trip we're bringing back trillions of dollars. So it's hard. But they do wanna meet with me when I get back. But I say, get the economy open and we'll meet. I'll meet and we'll solve any difficulties. We have to fix healthcare because Obamacare is a disaster. I mean, when you see the increases in Obamacare, it never worked. It, it never will work. And we could do something, work with the Democrats much better than Obamacare.
Less money and better healthcare. And that's something I think that could come out of this with the Democrats, to work with the Democrats. 'Cause right now the insurance companies are making too much money and, uh, they're making a fortune. And the healthcare, Obamacare is, uh, is poor and the premiums are ridiculous. Uh, it's going up a lot. I don't wanna say the number. The number is very substantial, but when you hear the number and it's Obamacare, it never worked. It never will work. It'll never be good. And I think it's a great time for the Republicans and Democrats to get together and make something that will work and let the insurance companies make money, their entitled of that, but not the kind of money that they're making.
Question: Would you bring Democrats in to have that discussion now?
Trump: Yeah, we'll do that. Sure. Well --
Question: Now, sir?
Trump: I'd say open up the governments and we'll work it out. I think we, I think a lot of good things can happen from it. But listen, thank you very much. We have two big days. This is a big day, and we're gonna be speaking at AIPAC, and a lot of, a lot of countries are there. They're all investing in the US. We're the hottest we've ever been. We're the hottest country in the world, and they're all investing, so I'll be doing that. And then, uh, tomorrow morning is the one that most people find the most interesting. And I think we're gonna do a great meeting with President Xi of China, and a lot of problems are gonna be solved. Okay.
Question: You're optimistic. You're optimistic about it?
Trump: I'm optimistic. I am, and I know a little bit about what's going on because, you know, we have been talking to them, uh, not just walking into a meeting called, but the relationship with China's very good. So I think we're gonna have a, a very good outcome for our country and for the world, actually. I think it's important for the world. Okay.
Question: How was, how was your day with the Prime Minister?
Trump: It went very well with Rare Earth. You know, we've been, we're involved with Rare Earth all over the place now, and it's, uh, some amazing things are happening.
Question: How was your day with the Japanese Prime Minister?
Trump: She's fantastic. I think she's a wonderful woman. She's very sharp, very smart, very energetic. And you see it, I mean, you know, the, the pictures don't lie. They really don't. The pictures are, uh, amazing. I saw some of the pictures this morning and they're amazing. But I think she's a terrific woman, first woman ever to be Prime Minister of Japan. And she'll go down as one of the really great ones. You know, I had a fantastic relationship with Shinzo Abe, the prime minister who was assassinated, horribly assassinated. He was a great man, and he was my best relationship. And she comes from that exact camp. He would've supported her had he been around. He --
Question: Are you touched by the putter and the golf bag you received?
Trump: I played golf with him, and they gave me the putter that he played with. And he putted very well that day, I remember. [Laughs] Thank you very much, everybody.
Question: Thank you, Mr. President. Thank you.