Global economics, and the way the financial media spin, can be funny at times.  On one hand the pretentious global community scoffs at American Exceptionalism and claims the U.S. is only one country amid a international community of equals; on the other hand the reality of the U.S. being the leading economy in the world, and their need to retain access therein, slaps them in the face like a cold fish…

Investment capital flows to the location of highest return.  Amid the U.S. MAGAnomic growth; global investment is inbound to the USA.  The EU and Asia are in a period of low to stagnant growth…  lots of high-brow teeth gnashing.  To make matters worse, Trump is leveraging their weakness against them as he renegotiates reciprocal trade deals.

The G20 IMF and World Bank’s 2019 Annual Spring Meetings of finance ministers (fancy name to describe Mnuchin’s job) is taking place in Washington DC.  The finance ministers are stomping their feet at horrible Trump hoarding all the economic growth.

(Reuters) […] Policymakers from the Group of 20 industrialized countries are worried that the weakness evident in key economies could spread, especially if elevated trade tensions, such as those between the United States and China, escalate further.

“The balance of risks remains skewed to the downside,” Japanese Finance Minister Taro Aso said at a news conference following a meeting of G20 finance ministers and central bankers. “We recognize the risk that growth prospects might deteriorate if weakening in key economies feed into each other.”

[…] As the chair country of this year’s G20 proceedings, Japan wants to deepen talks on global imbalances – an effort to divert Washington’s attention from bilateral trade imbalances and stave off U.S. pressure to negotiate two-way trade deals.

German Finance Minister Olaf Scholz, speaking at an event on the sidelines of the meetings in Washington, said the rules-based order of multilateralism is increasingly under threat and leaders must uphold international cooperation.  (read more)

Horrible Trump is not following the “rules-based order of multilateralism”.  So what exactly does Germany mean by that?….

For the answer lets look at the EU proposal today to avoid Horrible Trump’s demands for fair and reciprocal trade agreements:

(Reuters 2) […]  The EU is expected next week to give final clearance to the start of formal trade talks with the U.S. that could lead to the removal of duties on industrial goods and ease transatlantic tensions.

However, those talks face a series of hurdles, not least the U.S. insistence that market access for its farm productsfeature in the negotiations, something the EU has ruled out.

Germany, whose exports of cars and parts to the U.S. account for more than half the EU total, wants to press ahead with talks to ward off tariffs its carmakers, including Volkswagen, Mercedes maker Daimler and BMW.

France, with few car exports to the U.S., has resisted, insisting that climate change provisions should feature in any deal – a difficult demand given Trump’s withdrawal from the Paris climate agreement. (more)

So the EU demands include: continued blocks to U.S. agriculture exports; keep open access for their German high-end automobiles; and force the U.S. to join the climate change nonsense.  This is their plan for “free, fair and reciprocal” trade?…. LOL.

Yet somehow they wonder why investment is flowing into the U.S.?

Go figure.

President Trump’s #1 economic challenge right now is to re-skill a new generation workforce to support all the expanded manufacturing investment in the U.S.  This is not a bad problem to have…  Hundreds of new and innovative vocational development programs are ongoing to increase the skills of the U.S. workforce.

Winnamins.

Earlier today President Trump tweeted his support for a plan to use sanctuary cities to house border crossers pending their asylum hearings:

In response to the tweet, President Trump was ask for additional commentary during a White House event to support 5G infrastructure development:

[Transcript] Q — can you tell us your plans about sanctuary cities and illegal migrants? (Inaudible.)

THE PRESIDENT: Well, you know, the people that are putting sanctuary cities where they’re not even wanted — because as you know, in California and other places, a lot of communities want to get out of sanctuary cities; they don’t want them. But they always seem to have open arms.

So we thought rather than moving the illegal immigrants to other parts of the country — first of all, we’re getting them and we’re doing the best we can with very bad laws. We have to change the laws. But we’re apprehending thousands and thousands of people a day, and the law only allows us to hold them, as you know, for 20 days because of the most ridiculous laws, probably, we have in this country.

If Ajit had laws like that for 5G, you wouldn’t have anything built. You’d never have the first cell put up.

But we have horrible, old-fashioned laws that are put in by the Democrats. We’re willing to change them. We can do it in — I used to say 45 minutes; we can do it in 15 minutes — whether it’s catch and release or chain migration or any of them.

The asylum laws are absolutely insane. They come up. In many cases, they’re rough gang members. In many cases, they’re people with tremendous crime records and they’re given a statement to read by lawyers that stand there waiting for them, “Read this statement.” And it says, “I have great fear for my life. I have great fear for being in my country.” Even though, in some cases, some of these people are holding their country’s flags and waving their country’s flags. And then they talk about the fear they have of being in the country — that the flag they were waving freely.

So we are looking at the possibility — strongly looking at it, to be honest with you. California, the governor wants to have a lot of people coming in, refugees coming in. A lot of sanctuary cities. So we’ll give them to the sanctuary cities, maybe, to take care of, if that’s the way they want it — because we can only hold them, under the current law, for 20 days. So we apprehend them by the thousands and thousands a day.

I have to say Border Patrol has been incredible. The job they’re doing is incredible. The wall is going up. It’s going up fairly rapidly. We’re doing another big section. We start another big section tomorrow. But we’re building miles and miles of wall.

And we’re going to have — I think we’ll be close to 400 miles built by the end of next year. We need that. Just got back from Texas, and some of the ranchers told me — you look at Brooks County, you look at other places — some of the ranchers told me you have bodies lying all over the land of people where the coyotes give them a can of soda and they give them a sandwich and they say, “Houston is 300 miles in that direction.” And the people don’t know what that means. That means they can’t make it. That means they have no chance and they die. It’s something I never heard. I never heard it to this extent. Many people die. And they’ll say, “Just head in that direction.”

And we are doing a lot about it. If we had the wall, we wouldn’t have that. If we had the wall, people wouldn’t be coming up. Mexico is now apprehending and bringing back to the various countries that we’re talking about — Honduras, Guatemala, El Salvador — they’re bringing people back to those countries; Colombia, to a certain extent — and they’re going back to those countries.

But we could fix that and so fast if the Democrats would agree. But if they don’t agree, we might as well do what they always say they want: We’ll bring the illegal — really, you call them the “illegals.” I call them the “illegals.” They came across the border illegally. We’ll bring them to sanctuary city areas and let that particular area take care of it, whether it’s a state or whatever it might be.

California certainly is always saying, “Oh, we want more people.” And they want more people in their sanctuary cities. Well, we’ll give them more people. We can give them a lot. We can give them an unlimited supply. And let’s see if they’re so happy. They say, “We have open arms.” They’re always saying they have open arms. Let’s see if they have open arms.

The alternative is to change the laws, and we can do it very, very quickly, very easily. Okay? Okay?

♦  Q Are you asking for more troops on the border as well?

THE PRESIDENT: We’re going to put more troops on the border, yeah. We’re going to. And, you know, the thing is, our country is doing so well economically. We’re setting records that a lot of people are coming up for that reason. A lot of people are coming up for bad reasons too.

We have a lot of very, very bad people with big criminal records trying to get through. And the Border Patrol has done an incredible job with them. Those are our focus. They really have done a really incredible job. And when they have been through, and when they’ve been let through over the years — ICE — all over Long Island — and they come and they get them and they take them back, and we get them the hell out of here.

That’s happening all over our country. ICE. But the job that ICE and that, really, Border Patrol does is an incredible job. And law enforcement in this country is — the job they’re doing is really incredible.

You know, I don’t know if you saw the crime stats, but the statistics are that crime is way down in our country over the last year. Way, way down. And so that’s despite all of the problems we have at the border. And we’re straightening that out.

So, on sanctuary cities, as per your question, we are giving very strong consideration to having people — after a 20-day period — because, again you’re not allowed, legally, to hold them for more than that — we will move them into sanctuary cities.

Thank you very much everybody. Thank you.

END 2:57 P.M. EDT

President Trump and FCC Chairman Ajit Pai are delivering remarks today on the U.S. 5G wireless network deployment.  Chairman Pai is expected to announce additional funding for rural broadband internet access.

In February, Trump called on U.S. telecommunications companies to boost their work to build faster 5G wireless communications networks, saying they were lagging and at risk of being left behind other countries’ efforts.  Anticipated start time 2:30pm EST

UPDATE: Video Added

White House Livestream Link – Fox Livestream Link – Global News Livestream Link

White House Council of Economic Advisors Chairman Kevin Hassett gives an interview to discuss the current state of the U.S. economy.  After discussing President Trump’s Fed pick Herman Cain, Hassett outlines how inflation is non-existent; and also discussions around ongoing U.S-China trade discussions.

President Moon Jae-in the the Korean equivalent of Barack Obama.  Today President Donald Trump and First-lady Melania Trump welcome President Moon and Mrs. Kim Jung-sook to the White House.  During the oval office meeting President Trump took questions from the press corps [Video and Transcript below]

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[Transcript] – 12:19 P.M. EDT – PRESIDENT TRUMP: Thank you very much. It’s a great honor to have President Moon of South Korea with us and a very, very great privilege to have Mrs. Kim. Thank you very much. Very much. We hope you enjoy your stay.

We are discussing many, many important things, including, obviously, North Korea, the relationships with North Korea. I had, in many respects, a very good meeting. We did not fulfill what we wanted to, but in many ways, we — certain things were agreed to.

My relationship is very good with, as you know, Chairman Kim. And I think that it will go on that way. We’ll see. We’ll probably know. But we’ll be discussing that. We’ll be discussing trade, military, military purchases. South Korea buys a great deal of equipment from us, especially military equipment.

(Speaks to interpreter.) Please, go ahead.

We’ve just recently completed a new and very, very large trade deal with South Korea, and it’s just now going into effect. And it will very much increase trade both ways between our two countries. It’s a very important transaction and something we’ve been working on for quite a while. I know that, for years, they’ve been working on trying to redo it. And we have a new deal and it’s been, I think, very, very good for both our countries. Big difference.

President Moon and South Korea have agreed to purchase a tremendous amount of our military equipment, from jet fighters to missiles, to lots of other things. And we make the finest equipment in the world by far, and we appreciate the purchase. It’s a very large purchase. And we always appreciate that.

I think I can say that our relationship has never been better. Our relationship is, on a personal basis, very, very close. Our First Ladies, likewise — extremely close. And I think that that will continue to for a long time into the future — forever.

So we’ll be having individual meetings later on and all throughout the day with different people from different departments and representatives. The President and myself will be meeting right now in the Oval Office. Then we’ll meet with our groups in the Cabinet Room, as you know. And I think it’ll be very productive. It’s going to be a very productive day.

I just do want to tell you that great progress has been made and a great relationship has been made in North Korea too. Kim Jong Un has been, really, somebody that I’ve gotten to know very well and respect, and hopefully — and I really believe that, over a period of time, a lot of tremendous things will happen.

I think North Korea has a tremendous potential, and I believe that President Moon agrees with that. And we will be discussing that and even potential meetings, further meetings, with North Korea and Kim Jong Un.

So I want to extend my warmest wishes to the people of South Korea, and I think indirectly I can truly say I want to extend my warmest wishes to Kim Jong Un and the people of North Korea. I think the relationship has become far different and far better than it was when I first took office or at the end, certainly, of the Obama administration.

And it’s a great honor to be with you, Mr. President. And thank you very much.

PRESIDENT MOON: (As interpreted.) Mr. President, I would like to thank you for inviting our couple to the White House and also warmly welcoming us. In particular, last night at the Blue House, I saw the flowers — the beautiful flowers that you had sent — with a personally signed card. I was really moved by your meticulous care, and especially my wife was moved.

In particular, I have two accounts on which I would like to express my gratitude to the United States. First, recently, there was a big forest fire in Korea, in the province of Gangwon. At the time, the USFK supported us through the provision of many helicopters, and this really helped us put out the fire. And lots of Korean people were very grateful for this.

PRESIDENT TRUMP: Thank you.

PRESIDENT MOON: (As interpreted.) And today is a meaningful day for all the Korean people because it marks the centenary anniversary of the establishment of the provisional government of Korea. And I heard that both at the Senate and at the House, they introduced a resolution celebrating this momentous day. So I would like to thank you for that also.

PRESIDENT TRUMP: Thank you.

PRESIDENT MOON: (As interpreted.) And after you had met Chairman Kim in Singapore on June 12th, last year, we have witnessed a dramatic turnaround regarding the political situation on the Korean Peninsula. Previously, because of the repeated nuclear and missile test from North Korea, we saw that the military tension at the time had been at its greatest, and we were in a very precarious situation.

However, since you met Chairman Kim and you initiated personal diplomacy with him, we saw the dramatic, significant reduction of military tension on the Korean Peninsula, and now peace has prevailed.

And also, in terms of North Korean nuclear problem, all Korean people have now — now we believe that you will be able to solve this problem through a dialogue. So I have to say that this dramatic turnaround that we have witnessed is solely down to your strong leadership.

PRESIDENT TRUMP: Thank you very much.

PRESIDENT MOON: (As interpreted.) Well, in this sense, I believe that the Hanoi Summit is not actually — was not a source of disappointment, but it is actually the part of a bigger process that will lead us to a bigger agreement.

So the important task that I face right now is to maintain the momentum of dialogue and also express the positive outlook, regarding the third U.S.-North Korea Summit, to the international community that this will be held in the near future.

So, in this regard, I’d like to express my high regard for how you have continued to express your trust towards Chairman Kim. And also, you have made sure that North Korea does not deviate from the dialogue track. I would like to express my gratitude for this.

And let me reiterate that the Republic of Korea is absolutely on the same page when it comes to the end state of the complete denuclearization of North Korea. And I can reassure you that we will remain in such great collaboration with the United States. There will be no daylight until we achieve our ultimate goal.

PRESIDENT TRUMP: Thank you very much. I have to go just one step further and I want to thank China, who’s really helped us a lot at the border. I also want to thank Russia because they have helped us, and they’ve helped us quite a bit more than people think, at the border. So both China and Russia have really been quite good. That doesn’t mean they can’t get better, but they’ve been quite good at the border. And I just want to thank both of those countries.

As we’ve said, a lot of progress has been made. We will have further dialogue and I look forward to it. My relationship with Kim Jong Un has been a very strong relationship. I’ve had some very strong relationships with others, but I have a very, very good relationship with Kim Jong Un, and I think you see that.

And we’ll see what happens. Hopefully, it will end up in a great solution for everybody, and ultimately a great solution for the world. Because it is about the world. It’s more than just this area. It’s about the world. And, frankly, the world is watching.

I want to thank you for your leadership. Your leadership has been outstanding. And I look forward to talking about other things also, and in particular, all of that equipment that you’re buying. We like that in the United States. We like that you buy our great equipment. So again, thank you very much. And thank you for your leadership.

Q Mr. President, on economic projects for South Korea and North Korea, are you willing to allow some leeway in relaxing sanctions so that South Korea can pursue some more economic projects with North Korea?

PRESIDENT TRUMP: Well, we are discussing certain humanitarian things right now, and I’m okay with that, to be honest. I think you have to be okay with that. And South Korea is doing certain things to help out with food and various other things for North Korea. And we’ll be discussing different things inside.

Again, the relationship is a much different relationship than it was two years ago — you remember what that was all about — and certainly during the Obama administration, where nuclear weapons were being tested often, where rockets and missiles were being sent up, in many cases, over Japan. And we are in a much different situation right now.

So we’ll be discussing that very much, actually.

Q Mr. President, do you still love WikiLeaks?

PRESIDENT TRUMP: I know nothing about WikiLeaks. It’s not my thing. And I know there is something having to do with Julian Assange. I’ve been seeing what’s happened with Assange. And that will be a determination, I would imagine, mostly by the Attorney General, who’s doing an excellent job.

So he’ll be making a determination. I know nothing really about him. It’s not my — it’s not my deal in life.

Q What would you like to see happen? What is it that your Attorney General —

PRESIDENT TRUMP: I don’t really have any opinion. I know the Attorney General will be involved in that and he’ll make a decision, okay?

Q Mr. President, are you pleased that your Attorney General yesterday said that there was spying into your campaign in 2016?

PRESIDENT TRUMP: Yes, I am. I think what he said was absolutely true. There was absolutely spying into my campaign. I’ll go a step further: In my opinion, it was illegal spying, unprecedented spying, and something that should never be allowed to happen in our country again. And I think his answer was actually a very accurate one. And a lot of people saw that, and a lot of people understand — many, many people understand the situation and want to be open to that situation. Hard to believe it could have happened, but it did. There was spying in my campaign. And his answer was a very accurate one.

Q Mr. President, do you have the third summit with North Korea’s Chairman in mind? And does that also include —

PRESIDENT TRUMP: It could happen. A third summit could happen. And it’s step by step. It’s not a fast process; I’ve never said it would be. It’s step by step.

I enjoy the summits. I enjoy being with the Chairman. I think it’s been very productive. And it really is — it’s a step by step. It’s not going to go fast. I’ve been telling you that for a long time. If it goes fast, it’s not going to be the proper deal.

Q Is a three-way summit with the leaders of the two Koreas also (inaudible)?

PRESIDENT TRUMP: Well, that could happen also. I think that would be largely dependent on Chairman Kim, because President Moon will do what’s necessary. I know President Moon has been fighting this battle for a long time. He’s done an excellent job. I consider him a great ally.

And a lot of good things are happening. A lot of good things are happening in the world. Our economy is the best it’s ever been. Our employment numbers — unemployment and employment — are the best they’ve ever been. We have more people working right now in the United States than we’ve ever had before — almost 160 million people. And likewise, South Korea is doing very well. Their economy is doing very well, and I think our trade deal has helped that process.

So, we’re sitting on two great countries right now, and we’re leading two great countries. And we think that — I can speak for myself, and I think I can speak for President Moon: We think that North Korea has tremendous potential and, really, potential under the leadership of Kim Jong Un. Let’s see how it all works out.

Q Mr. President, have you communicated with Kim Jong Un in the last few weeks since you told us —

PRESIDENT TRUMP: I don’t want to comment on that. But we have a very good relationship.

Q Mr. President, on the Mueller report, are you concerned that Barr said that he’s not going to redact that report to protect your reputation?

PRESIDENT TRUMP: No, I’m not concerned about anything because, frankly, there was no collusion and there was no obstruction.

And we never did anything wrong. The people that did something wrong were the other side — the dirty cops. And a lot of the problems that were caused, it’s a disgrace what happened. And, again, it should never happen to a President again. You’re just lucky I happen to be the President, because a lot of other Presidents would have reacted much differently than I reacted. You’re very lucky I was the President during this scam — during the Russian hoax, as I call it.

So, no, I’m not concerned at all. The bottom line: The result is no collusion, no obstruction. And that’s the way it is. And I know a lot of people were very disappointed, but they knew the real answer.

You know, when the Democrats go behind the scenes and they go into a room backstage and they sit and they talk, they laugh because they know it’s all a big scam, a big hoax.

And it’s called politics, but this is dirty politics and this is actually treason. This is a very bad thing that people have done. And I just hope that law enforcement takes it up. Because if they don’t take it up, they’re doing a great disservice to our country.

Yes, go ahead.

Q Yes. Shared defense cost with South Korea — are you thinking a long-term agreement instead of year by year?

PRESIDENT TRUMP: No, we’re talking about long term, and we always talk about long term. We want to have long term. Our relationship South Korea is extraordinary, and we only think in terms of long term with South Korea. Okay?

Q (As interpreted.) How much do you support my President’s push for economic concessions, which include the resumption of the joint inter-Korean industrial complex and perhaps even the (inaudible)?

PRESIDENT TRUMP: Well, at the right time, I would have great support. This isn’t the right time. But at the right time, I’d have great support with North Korea. Great support. I think that South Korea, and I think Japan, and I think that the U.S. — I think a lot of countries will be helping. China, I really believe, will help. I think that Russia will help. I think a lot of countries will help.

When the right deal is made, and when the nuclear weapons are gone, I just think that North Korea has potential as great as anything I’ve ever seen in terms of potential. They have an unbelievable location — surrounded by sea on two sides, and on the other side, Russia, China, and over here, South Korea. You just can’t do better than that. And they have magnificent land. It has tremendous potential.

Q (As interpreted.) If North Korea actually submits a roadmap regarding complete denuclearization, are you two — are the two Presidents — will you be discussing this issue at the summit meeting today?

PRESIDENT TRUMP: Yes, we will. We will be discussing it, certainly. That’s a very prime topic for our meeting today. And we hope that’s going to happen.

Yes?

Q Is your position still that sanctions should stay in place on North Korea until there is denuclearization? Or are you willing to consider easing sanctions to keep the talks going?

PRESIDENT TRUMP: No, we want sanctions to remain in place. And frankly, I had the option of significantly increasing them. I didn’t want to do that because of my relationship with Kim Jong Un. I did not want to do that. I didn’t think it was necessary. As you know, a couple of weeks ago, I held it back. But I think that sanctions are, right now, at a level that’s a fair level. And I really believe something very significant is going to happen. We could always increase them, but I didn’t want to do that at this time.

Q Mr. President, would you accept smaller deals to “keep the process going,” as President Moon called it?

PRESIDENT TRUMP: I’d have to see what the deal is. There are various smaller deals that maybe could happen. Things could happen. You can work out, step by step, pieces.

But, at this moment, we’re talking about the big deal. The big deal is we have to get rid of the nuclear weapons.

Thank you very much, everybody. Thank you.

Q Sir, a golf question: Who do you like in the Masters? Who do you think will win the Masters?

PRESIDENT TRUMP: You know, there are 15 players capable of winning. And I guess you could say there are a lot more than that. They’re great players.

I don’t think a field for the Masters has ever been this deep. I was watching late last night, and they were going over the different players. I think the field has never been so deep.

But always Phil and Tiger and Dustin. I mean, you have so many great players. But they were just saying they’re younger, they’re stronger, they’ve never hit the ball this long. They’ve never hit the ball this accurately. They’ve never putted better than they do now.

You know, the whole thing is pretty incredible. But the field is very, very deep. I think it’s going to be a great Masters. I hope so.

Thank you very much, everybody.

END 12:45 P.M. ED

Earlier today President Trump delivered remarks during an energy and infrastructure event in Crosby, Texas. [Video and Transcript]

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[Transcript] – 4:07 P.M. CDT – THE PRESIDENT: Thank you. Thank you very much. (Applause.) And one of my all-time favorite governors is right here. Greg, thank you very much. Greg Abbott. (Applause.) Great, great job.

I’m thrilled to be here in Crosby, Texas, with the incredible members of the International Union of Operating Engineers. (Applause.) I know you well. I know you well and I also know who most of you voted for, and I appreciate it. (Laughter.)

When our nation builds and maintains pipelines and pumps, oil rigs and runways, bridges and boilers, operators get the job done with unmatched excellence and skill. There is nobody like you. Nobody. (Applause.)

With the help of the incredible workers in this room, the United States is now the number-one producer of oil and natural gas anywhere in the world, anywhere on the planet. (Applause.) Not even close. Made a lot of progress in the last two and a half years, haven’t we? Huh? Took down a lot of barriers. A lot of barriers to production and to the pumping. So many different things.

I just met some of your folks outside; they gave me a little lesson. I didn’t learn a lot, but I didn’t know they could lay as much pipe as that and so fast, Jim, right? So fast. Incredible.

There’s no — nobody in the world can do what you folks do. (Applause.) We’re going to make it easier for you.

So, in a few moments, I will sign two groundbreaking executive orders to continue the revival of the American energy industry and jobs.

My action today will cut through destructive permitting delays and denials. You know about that? You know about delays — (applause) — where it takes you 20 years to get a permit? Those days are gone. Now, you may not get it at all, but it’s going to take — going to be quick if you don’t. It’ll be quickly missed. You know they say, “Miss it quick.” Do you ever hear that? “Miss it quick.” But that’s not going to happen too often.

So that you can get to work producing the energy and the infrastructure our country needs to thrive and compete and to win. All over the world, we’re winning. Our country is respected again. (Applause.) Respected again.

So we’re pleased to be joined by your great union leadership, General President, a friend of mine, Jim Callahan. He knows all my friends back in New York. (Applause.) Big Jim. And your General Secretary-Treasurer, Brian Hickey. Brian? (Applause.)

As I’ve said from day one, American labor will always have a friend in the White House. You know that. I’ve proven that. Jobs are at an all-time high in the history of our country. Unemployment is at a 51-year low. The unemployment in our country — and we will soon break the all-time record. African American, Asian American, Hispanic American — all-time historic lows. We’re doing well. We’re doing well. And we’re going to keep it going because we believe in two fundamental rules: Buy American and hire American. Okay? (Applause.)

I introduced your great governor, Greg Abbott. And we love Greg. He’s been so incredible. So incredible in so many ways.

And my friend — his friend and my friend, Lieutenant Governor Dan Patrick. What a job he’s done. (Applause.) Dan. Thank you, Dan. Thank you, Dan. And his son is doing a fantastic job, too. Thank him for me, please.

And Texas Attorney General — somebody that wins a lot of lawsuits on your behalf — Ken Paxton. (Applause.) Ken? Thank you, Ken.

And Deputy Secretary of Energy Dan Brouillette. Dan. (Applause.) Dan. Thank you, Dan. Thanks, Dan. Thank you.

As well as Representatives Pete Olson, Randy Weber, and Brian Babin. (Applause.) Thanks, fellas. They help a lot. I’ll tell you, those three guys.

AUDIENCE: (Inaudible), Mr. President!

THE PRESIDENT: (Laughs.) Thanks also to Texas Land Commissioner George P. Bush for being here. (Applause.) Where’s George? Where is George? Come here, George! This is the only Bush that likes me. (Laughter.) This is the only one. Can we — come here. I want to meet you. He’s a friend of my son and he’s a great guy. Truly, this is the Bush that got it right. (Laughter and applause.) Good guy. I like him. I like him. He’s going far. He’s going places. Thank you, George.

Here at the IUOE International Training and Education Center, operators are perfecting their skills on cranes and pipelifters, sidebooms, and angle dozers. I just saw them all outside. I’d love to work — I used to work machines. I’d work them — my father would have a job — when I was very young. I won’t say it because they’ll report me. (Laughter.) But I was much too young to work a machine. But I used to work a machine. And then, I used to love the D10s. Now they make D12s. You don’t get too many of them, but they still make them. Right?

Under this administration, we have ended the war on American energy like never before. Nobody believed that this was going to happen. (Applause.) And we put thousands and thousands of patriotic union members like you to work building our energy future.

Since the election, we have created more than 5.5 million new jobs, and more than 60,000 brand new oil and gas pipeline construction jobs. We approved the Keystone Pipeline almost on day one. (Applause.) And we got the Dakota Access Pipeline out of a lot of trouble. They had built it, but they had a little problem. They had a river and they didn’t have that permit. I gave it to them. I gave it to them. (Applause.) So we got that open. That was 40,000 jobs, between the two of them.

We withdrew the United States from the one-sided Paris Climate Accord, where you don’t do any more drilling for oil and gas. (Applause.) That was going to cost us a lot of money. No more oil and gas with the Paris Accord. That’s good for Paris, but that’s not good for us. Right?

And we’re replacing the previous administration’s job-crushing Clean Power Plan and putting our miners back to work. And they’re back to work all over the country. It’s incredible what’s happened with the miners and with steel — with steel. (Applause.) Right now, they’re building many, many steel plants. All of them — Nucor, U.S. Steel — they’re building many plants. They hadn’t built a plant in 40 years.

We finally opened ANWR in Alaska. I don’t know if you like that. Yeah, you liked that. You liked that. (Applause.) A little competition. We’ve got to give them — George, we have to give them a little competition here, right?

But that was something — I don’t know if you know — that they’ve been trying to get that approved since Ronald Reagan. Ronald Reagan tried it. They all tried to get ANWR done. And I had it in a plan; I was close to getting it done. Then I didn’t like somebody or something that somebody did. I said, “Let’s take it out of the plan. Why should we do it?”

Then a friend of mine, who’s in the oil business, called. Unrelated. Didn’t have anything to do with it. He says, “Is it true that you’re going to get ANWR?” And I said, “Yeah, I can get it. I don’t know. I think I’m not going to, though. They don’t appreciate it. They don’t appreciate it at all.” He said, “Aw, that’s too bad because, you know, everybody from Ronald Reagan all the way up to you couldn’t get it done.” I said, “Really? Oh.” I called up, “Put that back in the plan.” (Laughter.) You know, that was just a competitive thing, right? “Put it back.” (Applause.)

So we put ANWR back, and that’s one of the biggest in the world. So it’s going to be something very special. A lot of you folks are going to be there.

We’ve added more than 450 oil and gas rigs nationwide. And that number is going up very substantially and rapidly, right? Rapidly.

Here in Texas, we’ve have nearly doubled the number of land rigs, and crude oil production has reached a record high — highest in the history of Texas. And if I get you the pipelines, which I will — you know, they’ve been trying to get these pipelines — how many years, Governor? Ten, twelve, fifteen — how many?

AUDIENCE MEMBER: Too long.

THE PRESIDENT: Too long. And we’re going to try and do it in six months. Is that okay? We’ll try. EPA. (Applause.) And that means jobs, jobs, jobs. And that’s a lot of jobs, and it’s a lot of additional product. It’s a lot of stuff.

At the same time, we’re strongly protecting the environment. We have to protect the environment. The United States has among the very cleanest air and water developments in the world. And also we have the cleanest air and water, they say, in the world. We are the best. And you want that and I want that. I want clean air and beautiful, crystal-clean water. Right? We want that. (Applause.) People don’t understand that about us. They don’t understand that. (Applause.)

And we also have, right now, the strongest, by far, economy anywhere in the world. We’re the envy of the world.

And we’re negotiating deals with China, with Mexico, with Canada. And many of them already negotiated. We have others to go, but we’re doing a great job. The trade deals — we were being taken advantage of. You would not believe. Yeah, you would believe. You guys understood it. You understood it better than the politicians. You understood it better than the people that used to stand here.

But too often, badly needed energy infrastructure is being held back by special interest groups, entrenched bureaucracies, and radical activists. Shocking to hear that, isn’t it? (Laughter.) So true.

For example, this past winter, Americans in New England — New England, great place — paid up to four times more than nearby Pennsylvania to heat their homes.

And also, in New York, they’re paying tremendous amounts of money more for energy to heat their homes because New York State blocked a permit to build the Constitution Pipeline. It’s a pipeline that goes across. And we actually buy a lot of oil from other countries like Russia because we aren’t being permitted to build a pipeline through New York State. How about that? Not too good.

This obstruction does not just hurt families and workers like you; it undermines our independence and national security. The two executive orders that I’ll be signing in just a moment will fix this, dramatically accelerating energy infrastructure approvals. So we’re going to get these approvals done quickly.

We need help with New York. New York is hurting the country because they’re not allowing us to get those pipelines through, and that’s why they’re paying so much for their heating and all of the things that energy and our energy produces. So hopefully they can come on board and get in line with what’s happening.

They also have a lot of energy under their feet, and they refuse to get it. And people are living up there, not doing well with jobs. It’s not a good situation. But it’ll change.

My first order will speed up the process for approving vital infrastructure on our nation’s borders, such as oil pipelines, roads, and railways. It will now take no more than 60 days. That’s a vast improvement. And the President, not the bureaucracy, will have sole authority to make the final decision when we get caught up in problems. (Applause.) We’ll do what’s right.

My second order will modernize regulations for LNG export terminals and encourage new infrastructure financing. It will improve access for workers and operators to maintain electrical lines. And finally, it will stop state-level abuse of water quality certifications — they abuse you; when you’re nowhere near water, they abuse you — from blocking the construction of vital pipeline projects as we rebuild our energy infrastructure. And it will be like never before. It’s already — look at what’s happened over the last two years.

Now is also the time to train even more. American workers are going to perform their job better and better. Places like this — what a job you’ve done here, Jim. I just met your people. What a job you’ve done. (Applause.) What a job. Incredible.

And you know what else? I just met them, and they also love what they do. If I say, “I’ll trade places: You can have a beautiful apartment on Fifth Avenue, and I can work teaching pipelines or helping.” You know what? They would not switch with me, would they? (Laughter.)

And as far as the White House is concerned, they definitely wouldn’t switch. (Laughter and applause.) The apartment, maybe close. But the White House, I don’t know. But we’re having a good time. We’re doing better.

The country has never done like it’s doing right now. Never had an economy like it. It’s never done. (Applause.)

And, you know, the world took advantage of us in so many ways, but certainly on trade. And that’s coming to a halt. They understand that. They understand. They understood what was happening, and they don’t even blame me. And I don’t blame them. I don’t blame China for taking out $500 billion a year. Five hundred billion dollars. How about that? That wouldn’t happen if you were negotiating.

You almost say, “Who were these people that were making this whole — letting this happen?” And I said to President Xi of China, “I don’t blame you. I blame the people that were in my position.” But those days are over. I said that. Those days are over. And we’re in the process of doing a reasonable deal. (Applause.)

But this is all why we launched the Pledge to American Workers, and our partners have committed to providing more than 6.7 million training and enhanced career opportunities to their American workforce. We’ve done an incredible job. My daughter, Ivanka, she worked so hard on it. Walmart and all of the big companies have just stepped up, and they’re doing an incredible job hiring people.

So I’m proud to announce that the International Union of Operating Engineers signed the pledge today and committed to train almost 550,000 Americans for the jobs of tomorrow. (Applause.) Big. That’s pretty good, Jim. That’s pretty big. That puts you up there with the biggest companies in the world, Jim. I’m impressed. You’ve come a long way, huh? (Laughter.)

With us today is Brandon Cooper, from the Operating Engineers Local 3. Brandon, come on up. He lost his job a few years ago and came here to learn about pipeline construction. Brandon? Where’s Brandon? Where is Brandon? Come here, Brandon. Say a few words, Brandon. Maybe you’ll be a politician, who knows? (Applause.)

MR. COOPER: I’ve worked in construction for years. I’ve been a member of Local 3 of California for over a decade, doing utility work, grading — a little bit of everything. But I’ve never worked in a pipeline industry and I needed training.

You can fake — you can’t fake your way through things in this industry. You have got to produce or you’re gone. Any contractor will let you go at a drop of a hat if you’re not making money.

It’s funny — the pipeline industry has a totally different language. Despite working in the industry for years, I didn’t know the lingo. Their terminology is different than the rest of the industry. With the union, you have that opportunity to expand your skills. I didn’t used to be proficient on all the equipment until I got in the union.

Union training opportunities have given me a chance to better my operating engineer — making more money, building retirement, security, and having good healthcare. This opportunity at this International Training Center is going to pay my dividends. It has been a great experience.

We appreciate what you’re doing, President Trump, to grow this industry. Thank you. (Applause.)

THE PRESIDENT: Good job. Good job, Brandon. Thank you very much.

I also want to introduce the great Larry Kudlow. Please. He wanted to be here today. (Applause.) I said, “You don’t have to come, Larry.” He said, “This is very important.” Larry Kudlow, thank you.

So now, more than ever, our nation needs dedicated operators like all of you. With incredible grit and talent and spirit, you lay the pipes that power our industries, you raise the beams that build our skyscrapers, and you are the men and women who get up every day and make this country run and, frankly, make this country great. You do a great job. (Applause.)

And what you understand better than anyone is you take pride in your work, and our nation will always take pride in you. We have great respect for the work you do, believe me.

To all of the talented operating engineers: Thank you for inviting me here today. It was very special. I know so many in this world, as Jim learned in the plane. He got to be on Air Force One today. He was very proud. (Applause.) We took a couple of pictures with that big plaque behind us. He was very happy. Huh? (Laughs.) Thank you, Jim.

And thank you to the extraordinary devotion of all of you to our country. Together, we are making America stronger and prouder and greater than ever before.

God bless you all. And God bless America. Thank you. (Applause.)

Should I sign it?

PARTICIPANT: Yeah!

(The executive order is signed.)

THE PRESIDENT: Thank you, everybody. Thank you, folks. (Applause.)

END 4:28 P.M. CDT

President Trump delivers remarks to the media as he departs the White House for a trip to Texas.  [Video and Transcript]

[Transcript] – 9:28 A.M. EDT – THE PRESIDENT: The economy is doing very, very well. We have numbers coming from companies that are beyond expectation. The tax cuts are working very, very well. So we’re very proud of the economy. Job numbers are as good as we’ve ever had, and more people are working right now than ever worked in our country before. We’re doing really well.

I’d like to congratulate Bibi Netanyahu. It looks like that race has been won by him. It may be a little early, but I’m hearing he’s won it and won it in good fashion. So, he’s been a great ally and he’s a friend. I’d like to congratulate him. That was a well fought-out race, I can tell you. But it looks like Bibi has won that race.

Go ahead, Steve.

Q Are you going to release the Middle East Peace Plan now?

THE PRESIDENT: Say it?

Q Are you going to release the Middle East Peace Plan now?

THE PRESIDENT: So, the fact that Bibi won, I think we’ll see some pretty good action in terms of peace. Look, everyone said — and I never made it a promise — but everybody said you can’t have peace in the Middle East with Israel and the Palestinians. I think we have a chance. And I think we have, now, a better chance with Bibi having won.

Yes, please. Major.

Q Mr. President, have you been briefed on the —

THE PRESIDENT: Hold it. Major.

Q Do you believe (inaudible) law requires you to give Congress your tax returns?

THE PRESIDENT: No, there is no law. As you know, I got elected last time with this same issue. And while I’m under audit, I won’t do it. If I’m not under audit, I would do it. I had no problem with it. But while I’m under audit, I would not give my taxes. There’s no law whatsoever.

Now, I will say this: I would love to give them, but I’m not going to do it while I’m under audit. It’s very simple. Remember, I got elected last time — the same exact issue, with same intensity, which wasn’t very much because, frankly, the people don’t care.

What I have done is approximately a 104-page summary — and, really, in great detail — of assets and values. And nobody wants to go over that because it’s so good. I built a great company, one of the best companies. I have some of the greatest assets in the world. I did a good job. And now, frankly, I don’t care about them; I only care about the United States.

But I have no obligation to do that while I’m under audit. And no lawyer would tell you to release your tax returns while you’re under audit.

Q Do you want to see a binary choice for asylum seekers?

THE PRESIDENT: I think that the whole asylum rules, laws, and regulations have been taken advantage of by people that are very bad people, in many cases. These are the people running the cartels. They’re gaming the system; they have been for years. The only difference is our economy is now so strong that more people come up.

We have done a great job at the border with bad laws. It’s very important that the Democrats in Congress change these loopholes. If they don’t change them, we’re just going to be fighting.

Now, the other thing: We’ve built a lot of wall. A lot of wall. And it’s new wall. You know, when we rip down an old wall and then replace it, it’s called a “new wall.” And that’s what we’ve done. A lot of wall is going up. And every place we build the wall, it’s less and less.

But the power of the economy, it’s like a magnet; it’s bringing more people than we’ve seen in a long time.

Major.

Q Mr. President, what is your current thinking on releasing as much of the Mueller Report as possible? The Attorney General yesterday said (inaudible). Do you agree with that?

THE PRESIDENT: Well, the Mueller Report is interesting. After $35 million, with 13 — increased to 18 — angry Democrats — people that truly hated Donald Trump, truly hated Trump — they found no collusion whatsoever with Russia. But I could have told you that and so could most people. And so could have everybody that voted for me, which was a lot of people.

So after wasting all of this money and all of this time with people that were haters — people that worked on the Hillary Clinton Foundation, people that were absolutely haters of Trump — they found no collusion.

What has been found during this period of time are the illegal acts of getting this whole phony investigation started. And hopefully that’s where people are going now. That’s where people are going.

And it’s very interesting. It was an illegal investigation. Major, it was an illegal investigation. It was started illegally. Everything about it was crooked — every single thing about it. There were dirty cops. These were bad people. If you look at McCabe and Comey, and you look at Lisa and Peter Strzok, these were bad people.

And this was a — an attempted coup. This was an attempted takedown of a President. And we beat them. We beat them.

So the Mueller Report, when they talk about obstruction, we fight back. And do you know why we fight back? Because I knew how illegal this whole thing was. It was a scam. And what I’m most interested in —

Q (Inaudible.)

THE PRESIDENT: Excuse me. What I’m most interested in is getting started.

Hopefully, the Attorney General — he mentioned it yesterday — he’s doing a great job — getting started on going back to the origins of exactly where this all started, because this was an illegal witch hunt and everybody knew it, and they knew it too. And they got caught.

And what they did was treason. What they did was terrible. What they did was against our Constitution and everything we stand for.

So hopefully that will happen. There is a hunger for that to happen in this country like I have never seen before, including all of the millions of people that voted for me.

What they did was disgraceful. There’s never been anything like it in the history of our country.

Q Mr. President, Senate Republicans have concerns about Herman Cain. Is his nomination safe?

THE PRESIDENT: Well, I like Herman Cain. And Herman will make that determination. Herman is a wonderful man. He’s been a supporter of mine for a long time. He actually ran a very good campaign. And that’s up to Herman.

Herman is — you know, he’s already sat on one the Fed boards, and he’s just somebody I like a lot. As to how he’s doing in the process, that I don’t know. You go through a process. But Herman is a great guy, and I hope he does well.

Q Mr. President, since Stephen Miller is already, basically, running your Homeland Security apparatus, have you ever thought about making Stephen Miller the DHS Secretary?

THE PRESIDENT: No, Stephen is an excellent guy. He’s a wonderful person. People don’t know him. He’s a wonderful — been with me from the beginning. He’s a brilliant man. And, frankly, there’s only one person that’s running it. You know who that is? It’s me.

Q Mr. President, has anyone in this White House been briefed on the Mueller report, or have you seen it?

THE PRESIDENT: I have not seen the Mueller report. I have not read the Mueller report. I won. No collusion. No obstruction. I won. Everybody knows I won. And the pros knew it was illegally started. The whole thing was illegal.

I have not read the Mueller report. I haven’t seen the Mueller report. As far as I’m concerned, I don’t care about the Mueller report. I’ve been totally exonerated. No collusion. No obstruction.

And I’m off to dealing with China. I’m off to dealing with North Korea. I’m off to dealing with Venezuela and all the problems in this world. I’m not worrying about something that never, ever should’ve taken place.

Q Did you see what happened to Candace Owens yesterday?

THE PRESIDENT: I did not see what happened. I did not see what happened to Candace Owens.

Q (Inaudible.)

THE PRESIDENT: Excuse me. I did not see what happened to Candace Owens.

Q Congressman Ted Lieu played a little snip of audio and accused her of being a Hitler supporter, and then she slapped back at him.

THE PRESIDENT: Well, I think that’s a terrible thing. I think that’s a terrible thing that he would do that. I find her to be a very — I know her. I think she’s a fine person, a fine young woman, and I think that’s disgraceful that they could say that.

Q The Wall Street Journal is reporting that the Southern District has spoken to Hope Hicks, Keith Schiller, and others in their investigations. Any response to that?

THE PRESIDENT: I don’t hear you.

Q The Wall Street Journal is reporting that the Southern District has spoken to Keith Schiller, Hope Hicks —

THE PRESIDENT: I have no idea.

Q Mr. President, what are your thoughts on Kris Kobach for DHS? Is he a leading contender for you?

THE PRESIDENT: I respect him. I like him. And he’s somebody that, you know, I have a lot of regard for.

Q SDNY, Mr. President — SDNY (inaudible) into your finances up in New York. Are you concerned about that investigation?

THE PRESIDENT: My finances are very clean. I don’t think there is an investigation. If you say it, I don’t know. But I don’t think there is an investigation. My finances are very clean.

Q Mr. President, will Kevin be your nominee for DHS Secretary permanently?

THE PRESIDENT: Well, I like him a lot. He’s doing a very good job. It could happen. We’ll make a determination.

Q Are you looking at others like Rick Perry or Matt Whitaker?

THE PRESIDENT: We have others, but right now he’s the man. He’s doing a great job.

Q Kevin?

THE PRESIDENT: Kevin.

Thank you. See you in Texas.

END 9:39 A.M. EDT

There’s a term called “zeroing” at the heart of this World Trade Organization decision that supports President Trump, Secretary Ross and USTR Lighthizer.

When an industry product like Canadian softwood lumber is shipped into the U.S. for sale at a lower price than exists in Canada, the U.S. Commerce department calls that“dumping“.  If the Canadian product is the same or higher in the U.S. as it is in Canada there is no dumping.  No dumping is a “zero” or normal price differential; hence “zeroing”.

The Canadian government is subsidizing their lumber industry by allowing tree removal from federal land at discounted rates so long as the lumber is exported.  This made softwood lumber cheaper in the U.S. than in Canada and set up the dumping issue.

[NOTE: This is the same issue with Steel and Aluminum from China]

U.S. lumber mills were going out of business because Canada was dumping subsidized product into the U.S. market at a discounted rate.  As a consequence, in 2017 Commerce Secretary Wilbur Ross instituted a 20% tariff on Canadian lumber to protect the U.S. lumber industry.  The tariff is a countervailing duty to offset the Canadian subsidy. ie. “zeroing”.

With the 20% tariff, Canadian lumber sold into the U.S. was the same price as Canadian lumber sold in Canada.  This allows U.S. lumber mills to compete for U.S. market business on an equal basis.

Instead of removing their federal lumber subsidy (which would have removed the tariff) the Canadian government, via Justin Trudeau, went bananas and sued the U.S. at the World Trade Organization (WTO).  Trudeau was counting on prior disputes where the WTO did not side with the U.S. position on the calculations for industry “zeroing”.

However, in a departure from prior WTO opinion; and conceding to the obvious validity of the math while faced with a U.S. president who would not relent; the WTO agreed with President Trump, Secretary Ross and Ambassador Lighthizer and affirmed the 20% tariff as a valid countervailing duty.

The softwood lumber tariff was upheld by the WTO and Canada has lost its case.

This is a major victory for the U.S. with considerable ramifications for all further “anti-dumping” tariffs and/or countervailing duties.

(Reuters) […] U.S. Trade Representative Robert Lighthizer welcomed the ruling by a WTO dispute panel, which he said showed the “erroneous”, “unpersuasive” and “flawed reasoning” of Appellate Body rulings in the past.

“The United States commends this panel for doing its own interpretive analysis, and for having the courage to stand up to the undue pressure that the Appellate Body has been putting on panels for many years,” Lighthizer said in a statement.

He said the WTO rules did not prohibit zeroing, and the United States would never have signed up to WTO rules that did prohibit the practice.

“WTO Appellate Body reports to the contrary are wrong, and reflect over-reaching by that body,” he said.

Canada launched the WTO dispute in November 2017, saying it would forcefully defend its lumber industry against “unfair, unwarranted and deeply troubling” U.S. tariffs.

The U.S. Commerce Department had accused Canada of unfairly subsidizing and dumping softwood lumber, which is commonly used in the construction of homes. Its duties affected about $5.66 billion worth of imports.

There was no immediate reaction from Canada’s international trade ministry, which could appeal against the ruling. (more)

This ruling is especially important as USTR Lighthizer engages with China on the current trade discussion. Prior WTO rulings essentially allowed China to subsidize their state-run industries/companies and undermine free-market prices.  Globally this put China at a manufacturing advantage; however, moving forward, the U.S. can apply the “zeroing” analysis and offset the Chinese state subsidy with countervailing duties.

In essence this WTO ruling forces the financial principles underlying a free and fair market into the global economy.  If China wants to sell industry products into the U.S. they can no long manipulate their price to export at a lower cost than exists in China.

President Trump has a simple economic platform: “Buy American and Hire American“; toward that goal all economic and fiscal policies are now directed to assist U.S. manufacturing companies and retain U.S. workers.  This includes free, fair and reciprocal trade agreements. Period.

Once upon a time, there was an old man who used to go to the ocean to do his writing. He had a habit of walking on the beach every morning before he began his work. Early one morning, he was walking along the shore after a big storm had passed and found the vast beach littered with starfish as far as the eye could see, stretching in both directions.

Off in the distance, the old man noticed a small boy approaching.  As the boy walked, he paused every so often and as he grew closer, the man could see that he was occasionally bending down to pick up an object and throw it into the sea.  The boy came closer still and the man called out, “Good morning!  May I ask what it is that you are doing?”

The young boy paused, looked up, and replied “Throwing starfish into the ocean. The tide has washed them up onto the beach and they can’t return to the sea by themselves,” the youth replied. “When the sun gets high, they will die, unless I throw them back into the water.”

The old man replied, “But there must be tens of thousands of starfish on this beach. I’m afraid you won’t really be able to make much of a difference.”

The boy bent down, picked up yet another starfish and threw it as far as he could into the ocean. Then he turned, smiled and said, “It made a difference to that one!”

Earlier today President Trump met with Egyptian President Abdel Fattah al-Sisi in the oval office.  President al-Sisi is a key member of the regional alliance for peace.

.

[Transcript] – 12:17 P.M. EDT – PRESIDENT TRUMP: Thank you very much. It’s a great honor to be with President Al Sisi of Egypt. We have many things to discuss, as you can imagine: military, trade.

And I have to say that a lot of progress has been made in a lot of different ways, in terms of terrorism and others things, with Egypt and within Egypt. It’s really incredible what’s happened, especially in certain respects that we’ve already talked about. But we will be meeting with representatives of the President and of Egypt in a little while.

Again, we have very, very important things, militarily, to talk about. And also about trade. A big trading partner. We do a lot of work together. We work together. And I think we’ve never had a better relationship — Egypt and the United States — than we do right now.

So, I want to thank everybody for being here. And, Mr. President, thank you very much.

PRESIDENT AL SISI: Thank you, Mr. President.

PRESIDENT TRUMP: My friend.

PRESIDENT AL SISI: (As interpreted.) Thank you, Mr. President. Allow me to express my thanks for your kind invitation and for providing me this opportunity to meet and talk about making a quantum leap in the strategic relationship between Egypt and the United States.

Let me emphasize, Mr. President, that the relations have not been better over the years of our bilateral relationship, and that is why I’m extending, Mr. President, to you our thanks, appreciation, and greetings for (inaudible).

All the credit goes to you, Mr. President. Thank you very much for your support on all fronts. This is what we’re seeking to promote our bilateral relations in various fields: political, economic, military, cultural, and others.

Thank you very much.

PRESIDENT TRUMP: Well, thank you. And I just have to say, before we perhaps take a couple of questions, the First Lady was recently in Egypt. She was treated beautifully.

But maybe even more importantly, what she saw with the Pyramids was — you could call it the seventh wonder or the eighth wonder of the world. She thought it was incredible. She thought it was one of the most incredible things she’s seen. And we have lots of pictures, and that was great day and a great moment to see the Pyramids — the Great Pyramids.

So hopefully a lot of people will be going and looking at them. But she’s not easily impressed; she was very impressed.

So thank you very much.

Q Mr. President, you seem to be —

PRESIDENT TRUMP: Go ahead, Jeff.

Q You seem to be cleaning house at DHS. What would you like to achieve with the new leadership there?

PRESIDENT TRUMP: Well, I never said I’m “cleaning house.” I don’t know who came up with that expression. We have a lot of great people over there. We have bad laws. We have a judge that just ruled, incredibly, that he doesn’t want people staying in Mexico. Figure that one out. Nobody can believe these decisions we’re getting from the Ninth Circuit. It’s a disgrace.

And so we’re fighting the bad laws, the bad — the bad things that are coming out of Congress. You have a Democrat Congress that’s obstructing. You talk about obstruction — the greatest obstruction anyone has ever seen. All they have to do is spend 20 minutes and they can fix this whole problem.

We have the worst laws of any country anywhere in the world, whether it’s catch and release or any one of them. I mean, I could name — I could sit here and name them, but if you got rid of catch and release, chain migration, visa lottery — you have to fix the asylum situation; it’s ridiculous. You have people coming in, claiming asylum. They’re all reading exactly what the lawyer gives them. They have a piece of paper. “Read what that is.” And all of the sudden, you’re entitled to asylum. And some of these people are not people you want in our country.

So we are building a lot of wall. It’s getting built. Some of you saw that last week, when we went — we had a great presentation of a new stretch. But we’re building a lot of wall and we’re being very strong on the border.

But we’re bucking a court system that never, ever rules for us. And we’re bucking really bad things with Congress — with the Democrats in Congress not willing to act. They want to have open borders, which means they want to have crime; they want to have drugs pouring into our country. They don’t want to act. We have to close up the borders. We’re doing it, but we’re doing it — I could do it much faster if they would act.

So it’s a terrible thing. The Democrats in Congress — what they’re doing and the obstruction — they don’t want to fix it. And we have to fix it. They want open borders. They want to have millions of people pouring into our country. They don’t even want to know who they are.

These are people coming into our country with criminal records. We have murderers coming in. We have drug lords coming in. We have gangs coming in. And we’re stopping them. And if we don’t stop them, ICE is throwing them the hell out. We’re getting them out.

But our job could be so much easier. I think Kevin is going to do a fantastic job. He’s Acting, but I think he’s going to do a fantastic job. And we’re not doing anything very big, as far as — what we need: homeland security. That’s exactly what we want. There’s no better term; there’s no better name. We want homeland security and that’s what we’re going to get. Thank you all very much. Thank you.

Thank you. Thank you very much. Thank you very much.

Q Egypt is ordering more fighter jets from Russia. How do you feel about that?

PRESIDENT TRUMP: Thank you very much, everybody.

Q Are you considering child separations, sir? Can you rule that out, Mr. President? You wouldn’t start separating the children again, would you, Mr. President?

PRESIDENT TRUMP: Obama separated the children, by the way.

Q Would you consider doing it again?

PRESIDENT TRUMP: Just so you understand, President Obama separated the children. Those cages that were shown — I think they were very inappropriate — they were built by President Obama’s administration, not by Trump. President Obama had child separation. Take a look. The press knows it. You know it. We all know it. I didn’t have — I’m the one that stopped it. President Obama had child separation.

Now, I’ll tell you something: Once you don’t have it, that’s why you see many more people coming. They’re coming like it’s a picnic because “let’s go to Disneyland.” President Obama separated children. They had child separation. I was the one that changed it.

Okay. Thank you very much.

Q But what’s President Trump going to do? Are you going to bring it back is the question. Would you bring it back?

Q Will you bring it back, though?

PRESIDENT TRUMP: We’re not looking to do that. No.

Q You’re not going to bring it back?

PRESIDENT TRUMP: We’re not looking to do that. No.

Thank you very much.

Q You’re not looking to bring it back?

PRESIDENT TRUMP: But it — it brings a lot more people to the border. When you don’t do it, it brings a lot more people to the border. We are not looking to do it.

But President Obama had the law. We changed the law. And I think the press should accurately report it. But, of course, they won’t.

Thank you all very much. Thank you.

Q Should the Muslim Brotherhood be a terrorist organization? Muslim Brotherhood?

PRESIDENT TRUMP: Thank you very much.

Q (Inaudible.)

PRESIDENT TRUMP: It’s a great honor to be with the President. It’s a great honor to be with your President.

Q Do you support his efforts to stay in power longer?

PRESIDENT TRUMP: What?

Q (Inaudible) through 2034?

PRESIDENT TRUMP: I don’t hear you.

Q Do you support his efforts to stay in power through 2034?

PRESIDENT TRUMP: I think he’s doing a great job. I don’t know about the effort; I can just tell you he’s doing a great job. Great President.

Thank you very much, everybody. Thank you.

END 2:26 P.M. EDT