Apple Inc. Exploring China Exit – More Supply Chain Moves…


This is interesting… but not simply because of the surface visibility.  Yesterday there was an event in Charlotte, North Carolina, that brought together Apple CEO Tim Cook, Commerce Secretary Wilbur Ross, U.S. Workforce policy advocate Ivanka Trump and U.S. CoC President Tom Donohue (on the margin).

Today, Apple Inc announces a restructuring of their supply chain away from China. In the media report notice the nations that likely stand to gain, and reference Trump’s 2017 golden ticket tour of Asia.

(Reuters) – Apple Inc has asked its major suppliers to assess the cost implications of moving 15%-30% of their production capacity from China to Southeast Asia as it prepares for a restructuring of its supply chain, according to a Nikkei Asian Review report on Wednesday.

Apple’s request was a result of the extended Sino-U.S. trade dispute, but a trade resolution will not lead to a change in the company’s decision, Nikkei said s.nikkei.com/31zCGhw, citing multiple sources.

The iPhone maker has decided the risks of depending heavily on manufacturing in China are too great and even rising, it said.

Earlier this month, credit rating agency Fitch said it views Apple, Dell Technologies Inc and HP Inc as potential blacklist candidates if China blacklists U.S. companies in retaliation for restrictions on Huawei.

The countries being considered include Mexico, India, Vietnam, Indonesia and Malaysia. India and Vietnam are among the favorites for smartphones, Nikkei said, citing sources who did not want to be identified as the discussions are private.

Last week, Foxconn said it had enough capacity outside China to meet Apple’s demand in the American market if the company needed to adjust its production lines, as U.S. President Donald Trump threatened to slap further $300 billion tariffs on Chinese goods. (read more)

In November of 2017, President Trump traveled to a specific set of Asian nations to meet with their leaders in advance of the APEC summit.  Included in the individual bilateral discussions (disconnected from APEC) was: Moon Jae-in (S Korea), Shinzo Abe (Japan), Tran Dai Quang (Vietnam), Rodriquo Duterte (Phillipines) and Narenda Modi (India).

Notice the flow…  Shinzo Abe, then Moon Jae-In, then meeting with Xi Jinping.

Who are the principals in the DPRK hostage release of Kim Jong Un?  Abe, Moon and Xi.

It’s clear that for two-and-a-half years U.S. President Trump has been working on two connected objectives: (1) removing the threat posed by North Korea by severing the ability of Beijing to use the proxy province as a weapon (Kim is hostage to China); and (2) deconstructing the growing economic influence of China.

The second phase of the 2017 tour took place after Trump visited China.  Additionally, there was a simultaneous shift in language.  President Trump began using the term “Indo-Pacific”.  The tour continued with extended bilateral trade discussions with Vietnam (Tran Dai Quang), India (Modi), and Philippines (Duterte).

In hindsight the connection and strategy is clear.  Prime Minister Shinzo Abe is the fulcrum for the two objectives: (1) North Korea (denuke via hostage release); and (2) China (global trade rebalance).

There are ASEAN regional economic beneficiaries for #2, breaking the Chinese supply chain and targeting a manufacturing retreat. Namely: Japan, Vietnam, India, South Korea, Philippines, Malaysia, Indonesia… and Mexico (think USMCA).

[Additionally, Singapore and Tokyo pick up the financial benefits from worries over Hong Kong.  More pressure on Chairman Xi]

Back to yesterday…  Tim Cook, Wilbur Ross and Ivanka Trump:

Flashback to June 2018:

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There It is – Chairman Xi Jinping Announces Magnanimous Panda: DPRK Hostage Release is “Correct Direction”…


As we noted on Day #1, if we watch how Beijing scripts the messaging we should be able to identify if Chairman Xi Jinping is taking the dragon approach toward his captive Kim Jong Un, or if Xi would instead reshape the geopolitics by announcing his release of Kim as a hostage: The magnanimous panda approach.  [Critical Background HERE and HERE]

It looks like we have an answer today as Chairman Xi writes a personal op-ed, published on the front page of North Korea’s state newspaper, where Xi is releasing Kim from proxy province captivity:

…”China supports North Korea’s “correct direction” in politically resolving issues on the Korean Peninsula.”…

Yes, though important details are yet to follow, it appears Beijing is acquiescing to the unrelenting pressure from hostage rescuer President Donald Trump and allowing the DPRK to exit the controlled captivity of China. Likely denuclearization will commence.

SEOUL (Reuters) – Chinese President Xi Jinping said in an op-ed in North Korean state newspaper Rodong Sinmun on Wednesday that China supports North Korea’s “correct direction” in politically resolving issues on the Korean Peninsula.

The front-page op-ed is an honor rarely granted to foreign leaders and comes a day before Xi is set to visit Pyongyang on Thursday and Friday at the invitation of North Korean leader Kim Jong Un, making him the first Chinese leader to visit in 14 years.

[…] Xi’s visit kicks off a flurry of high-level diplomatic activity around the Korean Peninsula ahead of the G20 summit in Japan later this month. Xi said the two Asian countries will “strengthen our strategic communication and exchanges,” adding that China will firmly support Kim’s achievements in “socialist construction” aimed at economic development and improving people’s lives, according to the newspaper.

Xi said North Korea and China would expand and develop relations in civilian sectors, including education, culture, sports, tourism, youth and rural areas.

“We will actively contribute to peace, stability, development and prosperity in the region by strengthening communication and coordination with the Democratic People’s Republic of Korea,” Xi said. China will also engage with other stakeholders “by jointly expediting progress on dialogue and negotiations on the issues of the Korean peninsula,” he added. (read more)

We now enter a phase of great nuance and subtle signaling where we will need to carefully evaluate the scale of hostage release. Obviously western media -writ large- are oblivious to the multidimensional hostage dynamic; heck, most major western media don’t even acknowledge that China controls North Korea… So we have a front row seat to review the generally coded signals.

Two days ago (Monday) Beijing announced Chairman Xi and South Korean President Moon Jae-in were scheduled for a bilateral meeting at the G20 (Osaka, Japan – June 28th and 29th).  Obviously Xi has a plan to position the best face for his magnanimous panda approach.  We also know on the issue of DPRK hostage release, Chairman Xi will need to save face against President Trump very carefully (hence the phone call between Xi and Trump on Tuesday).

One way for Xi to avoid the appearance of acquiescence to Trump would be for Xi, with Beijing approval, to place the optic of victory at the feet of Moon Jae-in.  As we noted from the outset the most likely scenario is China positioning themselves as magnanimous panda and South Korea as the beneficiary. Hence the pre-planned G20 meeting.

“Peace is the Prize” ~ Donald Trump

Ultimately, I don’t think President Trump really cares about who gets credit for the victory, hostage release of Chairman Kim, and denuclearization of North Korea. The world will know, though the media will not say, the victory is only because President Trump has outwitted Chairman Xi and his communist regime…. and Trump did that though strategic economic pressure.

For two-and-a-half years U.S. President Trump has been working on two connected objectives: (1) removing the threat posed by North Korea by severing the ability of Beijing to use the proxy province as a weapon (Kim is hostage to China); and (2) deconstructing the growing economic influence of China.

Both issues are directly connected to U.S. national security; and both issues are being approached by President Trump through the use of economic leverage to achieve national security results.

In the dynamic of the denuclearization of North Korea, the most likely scenario is Chairman Xi playing the role of magnanimous panda and *guiding* Chairman Kim Jong Un into the world of nations. Hence the op-ed outlined today.

South Korean President Moon Jae-in will be positioned as the hero so that Xi doesn’t look like he lost Kim to Trump.  However, what we don’t know is how much autonomy Chairman Xi will allow Chairman Kim.  It’s the “guiding” part we need to watch closely.

Beijing isn’t going to let Kim go fully antonymous and independent; not when they share a border; and certainly not after generations of strategic influence and control over the DPRK as a proxy province and hedge against the West.  Unfortunately, South Korean President Moon Jae-in will be useless as a counter wedge against the cunning of Xi Jinping in this very important aspect.

Moon is essentially the Asian Obama; and has about as much strategic intelligence, foresight and usefulness, as a bag-of-rocks being used as a weather vane.  Moon is good for the international optics of unification and dancing joyfully etc, but he’s oblivious to how Beijing may infiltrate and influence all things in/around Korea. Ideological naivete’ makes Moon the perfect person for Chairman Xi to work with.

So we need to keep eyes open for the amount of freedom Chairman Xi will give to Chairman Kim; however, simultaneously we can enjoy watching President Trump exploit the shifted dynamic by engaging with Kim as a freed hostage with full independence.

We can expect that President Trump will immediately start engaging with Chairman Kim Jong Un very openly, as if his captivity never existed.  That will drive Beijing bananas, as they will not know of possible private influence by Trump.  In turn, President Trump will know the engagement with Kim will drive Beijing bananas; and so Trump will take the U.S. engagement to even higher levels of independence just to watch the dragon flare his nostrils.  But that’s still a long way from today….

Remember, two connected objectives: (1) removing the threat posed by North Korea by severing the ability of Beijing to use the proxy province as a weapon; and (2) deconstructing the growing economic influence of China.

With #1 achieved, President Trump will still intend to get #2. Heck, Trump has spent 30-years openly advocating for the principle of restoring American wealth. That means the economic pressure will continue until Beijing is defeated. If Chairman Xi expects POTUS Trump to retreat from the massive geopolitical leverage he has created, well, it’s doubtful that will happen.

President Trump has threatened more tariffs and more consequential action as it relates to non-tariff barriers, IP protection, forced technology transfers etc as a result of China reneging on their prior agreement.  Additionally, President Trump has been openly, albeit with coded messages, telling the world North Korea was already no longer a threat.

The best offer -the most likely offer- from President Trump at the G20, is a return to the original 150-page agreement, constructed by USTR Lighthizer and Vice-Premier Liu He, that Beijing and Chairman Xi walked away from.  However, even that offer by President Trump is tenuously optimistic at best, because Trump knows China is on its heels.

President Trump has simply outwitted and outmatched Chairman Xi in this economic confrontation.  While Xi thought he was outmaneuvering his rival, it was President Trump who was the one wearing the Panda mask all along.

In hindsight every move since early 2017 including: (1) the warm welcome of Chairman Xi Jinping to Trump’s Mar-a-Lago estate; (2) the vociferous praise poured upon Xi; (3) the U.N. sanctions where China and Russia agreed; (4) the November 2017 “golden ticket’ tour of Asia; (5) the direct engagement with North Korean Chairman Kim Jong Un; (6) the strategic relationship with Japanese Prime Minister Shinzo Abe; and a host of smaller nuanced moves were all quietly building toward this conclusion.

For President Trump to have navigated Chairman Xi into such a position is the pinnacle of strategic success.  The Chinese culture doesn’t even have a frame of reference for a position that includes ‘less losing’ as their better option.

BenTallmadge@BenKTallmadge

World’s Top Bicycle Maker Says Era Of “Made in China” Is Over

Giant Manufacturing Co. is moving US orders to Taiwan factory.

Chairwoman says company acted swiftly on Trump’s tariff threat.https://www.bloomberg.com/news/articles/2019-06-17/world-s-top-bicycle-maker-says-era-of-made-in-china-is-over 

World’s Top Bicycle Maker Says the Era of ‘Made in China’ Is Over

Giant Manufacturing Co. saw the writing on the wall early on. The world’s biggest bicycle maker started moving production of U.S.-bound orders out of its China facilities to its home base in Taiwan…

bloomberg.com

BenTallmadge@BenKTallmadge

Jun 19, 2019
Trade Tensions Kick Asian Business Confidence To 10 Year Low… the lowest since the June quarter of 2009.https://www.reuters.com/article/us-asia-businesssentiment/trade-tensions-kick-asian-business-confidence-to-10-year-low-thomson-reuters-insead-idUSKCN1TK073 

Trade tensions kick Asian business confidence to 10-year low:…

Confidence among Asian companies in the June quarter fell to its lowest since the 2008-09 financial crisis, as a U.S.-China trade war disrupts global supply chains and shows little sign of easing…

reuters.com

See BenTallmadge’s other Tweets

Why do cylindrical rockets roll?


Everyday Astronaut

Here’s a fun question that not only have I myself asked, but I get asked fairly often, why do we hear a call out like “roger roll” or “roll program complete” at which point we can see the rocket rotate or roll on its X axis… The best example of this was the Space Shuttle which had a very obvious and dramatic roll program. As soon as it cleared the tower, you can see it making a very impressive and sometimes scary looking roll. Now a maneuver like this makes sense when a vehicle is asymmetrical like the Space Shuttle, but why do cylindrical rockets like the Saturn V, Titan, Atlas, Delta IV etc etc even bother doing a roll? Can’t rockets just tip over in whatever direction they need to go? Do a little pitch here, a little yaw there just as long as the pointy end is going the direction it’s intended to go, who cares which side of the rocket is facing the Earth and which side is facing space… right? So today we’ll first define the pitch, yaw, roll and their corresponding axis on a rocket, then we’re going to dive into why a rocket rolls in the first place, take a look at launch azimuths and their relationships to trajectories and we’ll look at some unique solutions to orientations including some rockets that don’t roll on ascent to align with their trajectory.

Ocasio-Cortez Slams Amazon Greed: Should Billionaire Bezos Switch Parties?


Published on Jun 18, 2019

Rep. Alexandria Ocasio-Cortez slams Amazon, suggesting billionaire CEO Jeff Bezos pays workers “starvation wages”, and should offer more benefits and pay more taxes. Surprisingly, the major Democrat donor’s company punches back, educating AOC on Amazon’s actual pay and benefits package, as well as its massive corporate tax bill. How long will big businesses like Amazon continue to kowtow to the Democrat party that hates everything they stand for, castigates corporate greed, and longs to scuttle their hopes and dreams? Bill Whittle Now comes to you 20 times each month thanks to the Members at BillWhittle.com. They also enjoy a private, Members-only website, their own blog, and other tools designed to foster an atmosphere of reasoned thought, civil dialogue and lots of laughter. Perhaps you should be one of us. Join now at https://BillWhittle.com/register/

World War III – 2024-2027?


QUESTION: Besides the Bible, there are many clairvoyants who predict that there will be World War III. Your models predict the rise in war tensions. What is your “opinion” about the prospects for a third world war?

JC

ANSWER: There is no doubt that we are in the process of a rising war cycle. It really appears to be more of a bitter war between leaders once again, as was the case with the last two World Wars. World War I was really about destroying the former Holy Roman Empire which had its seat of power in Vienna. That city was besieged in 1683 when the Ottoman Empire sought to conquer Europe. If you recall, the financial panics I used to discover the Economic Confidence Model began with the Panic of 1683 caused by the invasion of the Ottoman Empire.

The War Cycle is turning up and we are looking at a possible peak as early as 2027. This is why I have been concerned about the economic crisis in 2021-2022. Once the economy turns down, it will be the fuel for the war.

We must also respect that this particular cycle is the combination of both civil and international unrest. I do not believe we are in a cycle of conquest. Nobody wants to conquer and occupy each other — neither China, Russia, nor the USA. So, on the international level, it appears we are dealing with old grudges. When I have asked why Russia is our enemy since they abandoned communism, the only response I get is that, “Well, they are Russian!” World War I unfolded when the Archduke of Austria was assassinated by a Serb. He was heir to the throne of the old Holy Roman Empire. The French hated Germany for they were defeated under Napoleon. Additionally, in the first Treaty of Versailles in 1871 Germany became an empire at the expense of France. So it was really very much about settling old debts.

World War II was created by the oppression of the German people for the sins of their leaders. That led the German people to turn to Hitler because they were humiliated.

We would classify Napoleon and Hitler as warmongers of conquest. The Russian Revolution in 1917 and that in China led by Mao were class warfares instigated domestically that manifested into revolutions arising from civil unrest.

In Russia, the revolution really began in October 1905 when czarist troops opened fire on a peaceful group of workers marching to the Winter Palace in St. Petersburg to petition their grievances to Czar Nicholas II. Some 500 protestors were massacred on “Bloody Sunday,” setting off months of protest and disorder throughout Russia. It was 8.6 years later that World War I erupted in 1914. This signaled that there would be a rise in tensions 112 years later which would be 2017.

Vladimir Lenin was born in 1870 into a middle-class family in Ulyanovsk, Russia, but when he was a teenager, he became political after his older brother was executed in 1887 for plotting to assassinate Czar Alexander III. When he reached the age of 17, he was expelled from Kazan Imperial University for taking part in an illegal student protest. Then in December 1895, Lenin and the other leaders of the Union were arrested. Lenin was jailed for a year and then exiled to Siberia for three years. Upon his release in 1900, Lenin went to Western Europe. In 1902, he published a pamphlet entitled “What Is to Be Done?” Lenin argued that only a revolution would bring socialism to Russia by force. In 1903, Lenin met with other Russian Marxists in London and established the Russian Social-Democratic Workers’ Party. From the outset, Lenin’s Bolsheviks (Majoritarians) advocated violence and the Mensheviks (Minoritarians) advocated a democratic movement toward socialism. The split became official in the 1912 conference of the Bolshevik Party. If we use this as the start date, then we arrive at 2024 where we may see the sharp rise in tensions on a class warfare foundation worldwide once again. This may mark the culmination of the Marxist-Socialism movement that could end in blood in the streets once again.

Consequently, this World War III is more likely to be a combination of class warfare and settling old scores. The period of concern would be the 2024-2027 time frame from a cyclical perspective (sorry, no visions for I lack the clairvoyant ability).

 

Standing Ovation During Beautiful Farewell Tribute to Sarah Huckabee Sanders…


During the kick-off campaign rally in Orlando Florida, President Donald Trump delivered a farewell tribute to a “warrior”, White House Press Secretary Sarah Huckabee Sanders.

During the first two years of the administration Sarah Sanders has stood firmly in support of President Trump and fearlessly faced a hostile and ideologically corrupt media. Tonight Trump supporters had the opportunity to say thank you. The crowd delivered a rousing standing ovation while shouting: “Sarah, Sarah, Sarah”…. WATCH:

Donald Trump Jr. Fires Up Orlando Audience With Powerful Speech….


Donald Trump Jr. delivered a rousing testimonial to the power of MAGAnomic and common sense policy during remarks today in a packed Orlando arena.

In advance of President Trump and Vice President Mike Pence arrival to kick off the 2020 Keep America Great campaign, a ‘chip off the old block‘ Donald Trump Jr. warmed up the audience. ENJOY:

President Trump Massive Orlando MAGA Rally – 2020 Campaign Kickoff – 8:00pm Livestream


President Trump is launching the 2020 campaign kickoff tonight in Orlando Florida.  The venue is the Amway center and President Trump is scheduled to appear at 8:00pm EST. President Trump and Vice President Pence will announce their bid for a second term in the White House. First lady Melania Trump and second lady Karen Pence are also attending the launch.

UPDATE: Video Added

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The “45 festival” events have been ongoing all day in/around the arena, and ongoing rally speakers are speaking to a massive audience.  There is a large media presence including outlets from all over the world.  Several live-streams are available:

Fox News Livestream – Fox10 Livestream – RSBN Livestream – GST Livestream

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President Trump Impromptu Remarks Departing White House – Video and Transcript…


Chopper pressers are the best pressers.  Departing the White House for the Orlando kick-off rally, President Trump stops by the press pool to answer questions. [Video and Transcript Below]

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[Transcript] – 4:01 P.M. EDT – THE PRESIDENT: Mark Esper, who is a highly respected gentleman with a great career — West Point, Harvard, a tremendous talent — was just named Acting Secretary of Defense. I think he’ll do very well. He was Secretary of the Army. I got to know him very well and he’s an outstanding guy.

Pat Shanahan, who is a wonderful person, is, as you know, going to take some time off for family matters. And I want to thank him for his service. He’s a terrific person. And it’s a difficult time for Pat, but he’s going to take a little time off for family service and for working things out. And I think you know about it. You know very well about it.

But Mark Esper is going to be outstanding, and we look forward to working with him for a long period of time to come.

Q Did you ask Shanahan to withdraw, Mr. President?

THE PRESIDENT: Excuse me?

Q Did you ask Shanahan to withdraw?

THE PRESIDENT: No, I didn’t. I didn’t ask him to withdraw, but he walked in this morning and he said it’s going to be a rough time for him because of, obviously, what happened. But I did not ask him to withdraw. He presented me with a letter this morning. That was his — that was his decision.

Q Did you know about these allegations before you said you wanted him to be the Defense Secretary?

THE PRESIDENT: I had heard about it yesterday for the first time. I didn’t know about it. I had heard about yesterday. And it’s very unfortunate. Very unfortunate.

Q Does that make you concerned then about the White House vetting process if you had just heard about it yesterday?

THE PRESIDENT: No, we have a very good vetting process. And you take a look at our Cabinet and our Secretaries — it’s very good. But we have a great vetting process. But this is something that came up a little bit over the last short period of time.

And, as you know, Pat was Acting. And so, Acting gives you much greater flexibility. A lot easier to do things. So that’s the way it is. Too bad.

April.

Q Mr. President, will you apologize to the Central Park 5? They’ve been exonerated. There have been videos and movies shown about the case, and you came out with a full-page ad saying that they should die, that they should have the death penalty. Do you apologize?

THE PRESIDENT: Why would you bring that question up now? It’s an interesting time to bring it up.

Q There’s movies and everything about them.

THE PRESIDENT: You have people on both sides of that. They admitted their guilt. If you look at Linda Fairstein, and if you look at some of prosecutors, they think that the city should never have settled that case. So we’ll leave it at that.

Q Does not having a permanent Defense Secretary complicate your policy —

THE PRESIDENT: No, not at all.

Q — let’s say, with Iran?

THE PRESIDENT: I think, frankly, this could happen very quickly for Mark Esper. He’s very experienced. He’s the —

Q But it’s already been six months.

THE PRESIDENT: — he’s been around all of the things that we’re talking about for a very long period of time.

Q Why should Americans trust your administration to tell the truth about what’s going on with Iran? If we go to war, why should we believe you if you say why?

THE PRESIDENT: Well, we have Iran. We’ve been talking to various people on lots of different sides. And we’ll see what happens with Iran. We’re very well set. We’re very well configured. We have a lot of things going on with Iran.

I spoke with President Xi, this morning, of China. We’ll be meeting at the G20. And I think that is working out pretty much as I anticipated it would. China very much wants to discuss the future, and so do we.

So the relationship with President Xi is a very good one. We had a long talk this morning.

Q Immigration officials we’ve been speaking with say they don’t know anything —

THE PRESIDENT: Say it?

Q Immigration officials say they don’t know anything about a planned roundup of millions of people in the next few weeks.

THE PRESIDENT: Well, they know. They know. And they’re going to start next week. And when people come into our country and they come in illegally, they have to go out. And everybody is seeing that.

And as you know, Mexico has been doing a very good job the last four days. They haven’t done that in 25 years. They’re doing a very good job. I appreciate the job they’re doing. Guatemala, likewise, is much different than it was under past administrations. So we’ll see how that works out.

With all of that being said, the Democrats should get together and solve the asylum problem, which is very easy to solve. And they should solve the loophole problem, also very easy to solve.

Q Mr. President, you have an Acting Defense Secretary; you’ve had one for months. Why is it taking you so long to nominate someone permanently when you have so many hotspots in the world?

THE PRESIDENT: Well, this came up — this just came up. And I did the nomination —

Q The White House has known about it for a while.

THE PRESIDENT: This just came up, and I think we did it very quickly.

Pat Shanahan was Acting, and we put Mark Esper in. Mark is highly experienced. I think he’s going to fit in very easily.

Q Do you still want to demote Jay Powell? Is that something you’re still interested in?

THE PRESIDENT: Say it?

Q Do you want to demote Jay Powell? Are you interested in that? At the Fed? At the Federal Reserve?

THE PRESIDENT: Well, let’s see what he does. I can tell you that Draghi and the EU, if you look at what’s going on with the euro, they have a much different stance than our folks do.

As you know, he did something today that was very dramatic. And, frankly, it helped that part of the world. So we’ll see what happens. They’re going to be making an announcement pretty soon, so we’ll see what happens.

But I want to be given a level playing field. And, so far, I haven’t been.

Q (Inaudible) to demote him, do you think?

THE PRESIDENT: Yeah, I would be allowed to speak to him very easily. I speak to him anyway.

Q Mr. President, are you going to nominate Mark Esper for the permanent position, not just Acting?

THE PRESIDENT: Say it?

Q Are you going to nominate Esper for the permanent position?

THE PRESIDENT: Most likely. That’s what I’m thinking about doing.

Q When are you going to decide?

THE PRESIDENT: Most likely. Pretty soon.

Q And what’s the next step for Iran, Mr. President?

THE PRESIDENT: We’re looking at Iran. We have a lot of things going with Iran. We have — we’re very prepared for Iran. We’ll see what happens. Let me just say this: We are very prepared. Regardless of what goes, we are very, very prepared.

If you look at what’s taken place, if you look at what they’ve done, if you look at — and I’m not just talking about over the last week, I’m talking about over a long period of years. They’ve been a nation of terror. Now, we’ll see what happens. We’ll see what happens. They are a much different country today than they were two and a half years ago when I came into office.

When President Obama signed that horrible deal, they were screaming “Death to America.” I haven’t been hearing that lately.

Q Mr. President, on the 9/11 Compensation Fund, do you want to see it approved so that this never has to be revisited again — through 2090?

THE PRESIDENT: I have a meeting on that, actually, this afternoon, before my speech. I’m going down, as you know — it’s a very big crowd down in Florida — Orlando. And before that, I’m having a meeting. So we’ll — we’ll be letting you know.

Q Do you think you can reach a deal with President Xi at the G20? Or are you basically starting over?

THE PRESIDENT: Well, I have a very good relationship with President Xi, and we’ll see what happens. I think we have a chance. I know that China wants to make a deal. They don’t like the tariffs. A lot of companies are leaving China in order to avoid the tariffs. I have a very good relationship with President Xi. We’ll see what happens.

Q If that meeting goes well, are you willing to hold off on the next round of tariffs?

THE PRESIDENT: Say it?

Q If that meeting goes well, are you willing to delay that next round of tariffs?

THE PRESIDENT: Well, we’ll see what happens. I think the meeting might very well go well. And, frankly, our people are starting the deal as of tomorrow. The teams, they’re starting to deal. So, we’ll see.

China would like to make the deal, we’d like to make the deal, but it has to be a good deal for everybody.

Q Have they given you an indication that they’ve changed their position on some of the sticking points that scuttled the last deal?

THE PRESIDENT: They did. They changed their position. So I said, “We’re not going to do that.”

Q (Inaudible) immigrants do you want to see deported? Are you talking about families, children? What’s the population of people you’re going to (inaudible)?

THE PRESIDENT: You’re going to find out. You’re going to find out.

Thank you very much.

END 4:09 P.M. EDT