US President Trump: There will be a redistribution of costs with other countries

United States (US) President Donald Trump hit the airwaves with a fresh round of commentary on a wide range of subjects on Tuesday. President Trump reiterated his intentions to treat trade balance as an imbalance that needs to be rectified in order for a country to reach maximum profitability, and also repeated his intentions to obtain questionably steep 'investment agreements' with individual companies. How these corporations are meant to invest directly in the US, outside of expanding regular operations that market share may not generate profitability from, remains unclear.

Donald Trump also noted that by removing his own self-imposed triple-digit tariffs targeted as US consumers who demand goods from China, that China has eased back its own tariffs on US goods. According to the Fitch Ratings agency, the Effective Tariff Rate (ETR) remains above 40% on Chinese goods when legacy tariffs from Trump's first term are factored in.

President Trump also noted that the US government is on pace to pass one of the largest tax cut spending bills in history, which includes over $4 trillion dollars in cuts to government tax receipts, with the overwhelming majority of those tax cuts targeted at high net worth individuals. Effective tax rates are broadly expected to increase for US citizens at or below median income levels.

Key highlights

The China agreement is a breakthrough.

China has agreed to open up to the US for trade. China has to do it, we'll see what happens.

I had great meetings with the UK and China.

We're in good shape to pass the tax bill, Congress are on the verge of passing the biggest tax cut in history.

Tax bill would be rocket ship for the US economy.

Now we're tariffing them at a level nobody's seen.

Tariffs are making the US a different country, and a different party.

We're tariffing countries that tariffed us.

I am adding $1 trillion of investment into the US with the Saudi trip.

There will be deals with Amazon, Oracle, and others.

Multibillion deals with Amazon and Oracle are all here.

Companies weren't happy with me a month ago, it's amazing what a rising market will do.

There will be a redistribution of costs with other countries.

Market will go higher. It's gonna go a lot higher.

There are commercial deals also with Uber, Johnson & Johnson, and others.

We don't want to be bombing each other out of existence.

I hope Saudi will join the Abraham Accords.

We're working with the region, the task is to unify against chaos. The most destructive is the Iranian regime.

The Arab states are focused on stability, and Iran on terror.

Iran has dragged an entire region down with them.

The differences with Iran are profound.

I never believed in having permanent enemies.

I am willing to end past conflicts.

I want to make a deal with Iran.

If Iran rejects olive branch, we will have no choice but to inflict maximum pressure.

Iran will never have a nuclear weapon.

We would drive Iranian oil exports to zero.

The Iran offer will not last forever.

Things are happening at a fast pace.

The time is right now for Iran to choose.

Russia-Ukraine talks could produce good results, we'll see if we can get it done.

We stopped Iran's oil with embargo and sanctions.

We believe in peace through strength.

We won't hesitate to wield American power if necessary. No mercy for any foe who tries to do us harm.

We have things you don't even know about.