Trump Fox Business News Interview Notes 4.12.17

I don’t like the term border adjustment, I like a matching tax or a mirror tax

“I haven’t really wanted to talk about it. I have my own feelings. I don’t like the word adjustment, because our country gets taken advantage of, to use a nice term, by every other country in the world. So when I hear border adjustment, adjustment means we lose. We lose. So I don’t like the term border adjustment…Weak. Let’s call it an import tax. Let’s call it a reciprocal tax. You know, we have…We have countries, Maria, that charge us — our companies — 100 percent tax if they sell a motorcycle or if they sell — they make it in America, they make it in the United States, they sell it various countries. They sell very low, because the tax is 100 percent in some countries. The tax is 50 percent, 30 percent, 40 percent. But if they make a motorcycle and they sell it back into the United States, they have no tax. And do you think that’s fair? And do you think that’s smart? So I love the idea of reciprocal. You can call it a reciprocal or a matching tax or a mirror tax. There are numerous terms.”

Nobody gets angry at a reciprocal tax, but they go crazy about a border adjustment

“when you say reciprocal, nobody fights you. When you say I’m going to charge a 10 percent or a 20 percent border tax, everyone goes crazy, because they like free trade. Well, they don’t say that the other countries are charging you much more than that. But when you say a reciprocal tax — and I’m not saying that’s what I’m doing, but there has to be a certain reciprocal nature to it. But when you say reciprocal tax, nobody can get angry. Even the other countries, if like — if they’re charging you a 50 percent tax, you say, OK, whatever you charge, we’re charging.”

Got to cut both individual and corporate taxes but probably corporate more important?

“Both. I almost think individual from my standpoint, because, you know, the middle class has just been taken advantage of in this country for so many years. But in terms of jobs, I mean I think both, but I think probably corporate. But they kind of both go hand in hand. It’s not going to matter.”

Trump WSJ Excerpt

I like Yellen

“No, not toast. You know, I like her, I respect her. She’s been here, she’s been in that seat. I do like the low interest rate policy, but I must be honest with you, I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me. But, you know, that’s hurting — that will hurt ultimately. Look there are some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good. You know, it’s very, very hard to compete when you have a strong dollar and the other guy — other countries are devaluing the currency. It’s very hard for our manufacturers to compete.”

Donald Trump Joint Congress Address 2.28.17

Loves the higher stock market

“Since my election, Ford, Fiat-Chrysler, General Motors, Sprint, Softbank, Lockheed, Intel, Walmart, and many others, have announced that they will invest billions of dollars in the United States and will create tens of thousands of new American jobs. The stock market has gained almost three trillion dollars in value since the election on November 8th, a record.”

reduce tax rate on our companies

“Right now, American companies are taxed at one of the highest rates anywhere in the world. My economic team is developing historic tax reform that will reduce the tax rate on our companies so they can compete and thrive anywhere and with anyone. At the same time, we will provide massive tax relief for the middle class. We must create a level playing field for American companies and workers.”

$1T infrastructure program

“Another Republican President, Dwight D. Eisenhower, initiated the last truly great national infrastructure program –- the building of the interstate highway system. The time has come for a new program of national rebuilding. America has spent approximately six trillion dollars in the Middle East, all this while our infrastructure at home is crumbling. With this six trillion dollars we could have rebuilt our country –- twice. And maybe even three times if we had people who had the ability to negotiate. To launch our national rebuilding, I will be asking the Congress to approve legislation that produces a $1 trillion investment in the infrastructure of the United States — financed through both public and private capital –- creating millions of new jobs. This effort will be guided by two core principles: Buy American, and Hire American”

Competitive national marketplace

“First, we should ensure that Americans with pre-existing conditions have access to coverage, and that we have a stable transition for Americans currently enrolled in the healthcare exchanges. Secondly, we should help Americans purchase their own coverage, through the use of tax credits and expanded Health Savings Accounts –- but it must be the plan they want, not the plan forced on them by the Government. Thirdly, we should give our great State Governors the resources and flexibility they need with Medicaid to make sure no one is left out. Fourthly, we should implement legal reforms that protect patients and doctors from unnecessary costs that drive up the price of insurance – and work to bring down the artificially high price of drugs and bring them down immediately. Finally, the time has come to give Americans the freedom to purchase health insurance across State lines –- creating a truly competitive national marketplace that will bring cost way down and provide far better care.”

Eliminate the Defense sequester

“I am sending the Congress a budget that rebuilds the military, eliminates the Defense sequester, and calls for one of the largest increases in national defense spending in American history.”

Trump Feb 16, 2017 Press Conference

Stock market has hit record numbers

“The stock market has hit record numbers, as you know, and there’s been a tremendous surge of optimism in the business world, which means something different than it used to. Now it means it’s good for jobs. Very different. Plants and factories are already starting to move back into the United States, big league, Ford, General Motors.”

Expedite approval for permits

“We directed the elimination of regulations that undermine manufacturing and called for expedited approval of the permits needed for America and American infrastructure, meaning plants, equipment, roads, bridges, factories. People take 10, 15, 20 years to get disapproved for a factory. They go in for a permit, it’s many, many years, and at the end of the process, they spend tens of millions of dollars on nonsense, and at the end of the process, they are rejected. They may be rejected with me, but it’s going to be a quick rejection. Not going to take years, but, mostly, it’s acceptance. We want plants and factories built. We want the jobs. We don’t want the jobs going to other countries.”

Mandating buy American steel for pipeline construction

“We’ve also taken steps to begin construction of the Keystone pipeline and Dakota Access pipelines, thousands and thousands of jobs, and put new buy American measures in place to require American steel for American pipelines. In other words, they build a pipeline in this country and we use the powers of the government to make that pipeline happen, we want them to use American steel. And they are willing to do that, but nobody ever asked before I came along”

Fair trade not free trade

“Now look, fair trade. Not free. Fair. If a country is taking advantage of us, we’re not going to let that happen anymore. You know, every country takes advantage of us, almost. I may be able to find a couple that don’t, but for the most part, that would be a tough job for me to do. Jobs have already started to surge. Since my election, Ford announced it will abandon its plans to build a new factory in Mexico, and will instead invest $700 million in Michigan, creating many, many jobs. Fiat Chrysler announced it will invest $1 billion in Ohio and Michigan creating 2,000 new american jobs.”

Companies are building plants in the US

“Intel just announced that it will move ahead with a new plant in Arizona that probably was never going to move ahead with. And that will result in at least 10,000 American jobs. Wal-mart announced it will create 10,000 jobs in the United States just this year because of our various plans and initiatives. They’ll be many, many more, many more. These are a few that we’re naming.”

The big stuff starts next week

“there’s never been a presidency that’s done so much in such a short period of time, and we haven’t even started the big work that starts early next week. Some very big things are going to be announced next week.”

I’ve never seen more dishonest media than the political media

“I’ll tell you something. I’ll be honest. I sort of enjoy this back and forth, and I guess I have all my life, but never seen more dishonest media than frankly the political media. I thought the financial media was much better and more honest, but I will say that I never get phone calls from the media.”

I’m not ranting I’m just telling you you’re dishonest

“But I’m having a good time. Tomorrow, they will say, Donald Trump rants and raves at the press. I’m not ranting and raving. I’m telling you you’re dishonest people, but I’m not ranting and raving. I love this. I’m having a good time doing it, but tomorrow’s headlines are going to be Donald Trump, rants and rants. I’m not ranting.”

Tax reform would be easier but for statutory reasons we have to do healthcare first

“Tax reform’s going to happen fairly quickly. We are doing Obamacare, we are in the final stages. We should be submitting the initial plan in March, early March. I would say. And we have to, as you know, statutorily and for reasons of budget. We have to go first. Frankly, the tax would be easier, in my opinion, but for statutory reasons and for budgetary reasons, we have to submit the health care sooner, so well submitting health care sometime in mid-March, and after that, we’re going to come up, and we’re doing very well on tax reform, yes.”

DACA is a very difficult subject, we’re going to deal with it with heart

“We’re going to show great heart. DACA a very difficult subject for me. To me, it’s one of the most difficult subjects. You have incredible kids, in many cases, not all cases. In some of the cases, they are gang members and drug dealers, too. But you have some absolutely incredible kids. I would say mostly. They were brought here in such a way — it’s a very, very tough subject. We are going to deal with DACA with heart. I have to deal with a lot of politicians, don’t forget, and I have to convince them what I’m saying is right. I appreciate your understanding on that, but the DACA situation is a very, very — it’s a very difficult thing for me because, you know, I love these kids. I love kids. I have kids. And grandkids.”

Donald Trump ABC News Interview 1.25.17

Trump loves Dow 20,000

“The Dow on top of it just hit 20,000. First time in history. I’m very proud of it. And now we have to go up up up. We don’t want it to just stay there. That’s gonna be the challenge, but its gone up a lot since I won. Don’t forget when I won people thought maybe it will go down, but the business world doesn’t think that. The business world knows me, they don’t think that. And it was a steady climb and now we just hit a record and a number that’s never been hit before, so I was very honored.”

Trump 1.11.17 News Conference Notes

We’ve got to get our drug industry back

“We’ve got to get our drug industry back. Our drug industry has been disastrous. They’re leaving left and right. They supply our drugs, but they don’t make them here, to a large extent. And the other thing we have to do is create new bidding procedures for the drug industry because they’re getting away with murder. Pharma, pharma has a lot of lobbies and a lot of lobbyists and a lot of power and there’s very little bidding on drugs. We’re the largest buyer of drugs in the world and yet we don’t bid properly and we’re going to start bidding and we’re going to save billions of dollars over a period of time.”

I will be the greatest jobs producer that God ever created

“We’re going to create jobs. I said that I will be the greatest jobs producer that God ever created. And I mean that, I really — I’m going to work very hard on that. We need certain amounts of other things, including a little bit of luck, but I think we’re going to do a real job. And I’m very proud of what we’ve done.”

I don’t know if I’m gonna get along with Putin or not

“Now, I don’t know that I’m gonna get along with Vladimir Putin. I hope I do. But there’s a good chance I won’t. And if I don’t, do you honestly believe that Hillary would be tougher on Putin than me? Does anybody in this room really believe that? Give me a break.”

We don’t make good deals any more

“I want to bring the greatest people into government, because we’re way behind. We don’t make good deals any more. I say it all the time in speeches. We don’t make good deals anymore; we make bad deals. Our trade deals are a disaster.TRUMP: We have hundreds of billions of dollars of losses on a yearly basis — hundreds of billions with China on trade and trade imbalance, with Japan, with Mexico, with just about everybody. We don’t make good deals anymore.”

There will be a major border tax on these companies

“You want to move your plant and you think, as an example, you’re going to build that plant in Mexico and you’re going to make your air conditioners or your cars or whatever you’re making, and you’re going to sell it through what will be a very, very strong border — not a weak border like it is — we don’t even have a border. It’s an open sieve. But you’re going to sell through a very strong border — not going to happen. You’re going to pay a very large border tax. So if you want to move to another country and if you want to fire all of our great American workers that got you there in the first place, you can move from Michigan to Tennessee and to North Carolina and South Carolina. You can move from South Carolina back to Michigan. You can do anywhere — you’ve got a lot of states at play; a lot of competition. So it’s not like, oh, gee, I’m taking the competition away. You’ve got a lot of places you can move. And I don’t care, as along as it’s within the United States, the borders of the United States. There will be a major border tax on these companies that are leaving and getting away with murder.”

Donald Trump Comments at Tech Round Table 12.14.16

Trump is “honored by the bounce”

“So I want to add that I’m here to help you folks do well. And you’re doing well right now and I’m honored by the bounce. They’re all talking about the bounce, so right now everybody in this room has to like me at least a little bit, but we’re going to try and have that bounce continue and perhaps even more importantly we want you to keep going with the incredible innovation. There’s nobody like you in the world. In the world, there’s nobody like the people in this room.”

We have no formal chain of command here

“And anything we can do to help this go along, and we’re going to be there for you and you’ll call my people, you’ll call me, it doesn’t make any difference, we have no formal chain of command around here. I’m honored to have Gary, the president of Goldman Sachs, left Goldman Sachs to do this, and Wilbur, everybody knows Wilbur, they never call him Wilbur Ross on Wall Street, they just say “Oh, it’s Wilbur.” There’s nobody like him.”

We’re gonna do fair trade deals

“And we’re gonna do fair trade deals. We’re going to make it a lot easier for you to trade across borders because of a lot of restrictions, a lot of problems that I think you’ll see. And if you have any ideas on that, that would be, that would be great because there are a lot of border restrictions and a lot of border problems, you probably have less of a problem than some companies, some companies have — you have some problems.”

Donald Trump Fox News Sunday Interview 12.12.16 Notes

Dems putting out the Russia story

“I’m not sure they put it out. I think the Democrats are putting it out because they suffered one of the greatest defeats in the history of politics in this country. And, frankly, I think they’re putting it out. It’s ridiculous.”

I don’t need to be told the same thing every day for eight years

“I don’t have to be told — you know, I’m, like, a smart person. I don’t have to be told the same thing in the same words every single day for the next eight years. It could be eight years — but eight years. I don’t need that. But I do say if something should change, let us know. ”

Staying at the White House

“I’m going to live in the White House with my family. Baron is going to finish up school because he’s got just a couple months to go. So, it’s a little hard to take him out of school. And Melania will be back and forth for that first couple of months.”

Wants to have Kushner working with him

“I’d love to have Jared helping us on deals with other nations and see if we can do peace in the Middle East and other things. He’s very talented. He’s a very talented guy. So, we’re looking at that from a legal standpoint right now”

F-35 call out

” I want to make good deals for this country. I don’t need a $4.2 billion airplane to fly around in, O.K.? I don’t need that, especially when it’s totally out of control. You know, they’ve lost control of it. I let them know that I don’t want this. I just see things that’s — if you look at the F-35 program with the money, the hundreds of billions of dollars, and it’s out of control. And the people that are making these deals for the government, they should never be allowed to go to work for these companies.”

Need to speed up approval of things like EPA

“EPA, you can’t get things approved. People are waiting in line for 15 years before they get rejected, O.K.? That’s why people don’t want to invest in this country. I mean, you look at what’s going on — and you can look at a jobs report, but take a look at the real jobs report, which are the millions of people that gave up looking for work, and they’re not considered in that number that’s less than 5%. O.K.?”

We can’t let it take 10-15 years to permit to build stuff

“I do know this: other countries are eating our lunch. If you look at what China is doing, if you look at what — I could name country after country. You look at what’s happening in Mexico where our people — just our plants are being built. They don’t wait 10 years to get an approval to build a plant, O.K.? They build it, like, the following day or the following week. We can’t let all of these permits that take forever to get stop our jobs.”

Thoughts on Tillerson

“Well, in his case, he’s much more than a business executive. I mean, he’s a world-class player. He’s in charge of, I guess, the largest company in the world. He’s in charge of an oil company that’s pretty much double the size of his next nearest competitor. It’s been a company that’s been unbelievably managed. And to me, a great advantage is he knows many of the players. And he knows them well. He does massive deals in Russia. He does massive deals for the company, not for himself, but the company.”

We’re going to have to impose a major tax on companies that leave

“we’re going to have to impose a major tax on companies that leave, bill their product, and think they’re going to sell it right to our border, like we’re a bunch of —”

Reducing taxes and regulations are the nice ways of doing things and everyone loves those, but there will be taxes too

“I’m a big free trader. But it has to be fair. So, what’s happened is we have lost, over a period of years, short years, 70,000 factories in this country. Chris, 70,000. I always say to people, I think it’s a typo. How could it be so many? Seventy thousand factories. We’re being stripped of our workers. We’re being — I mean, we’re being stripped of our jobs, our good jobs are really good down, and we’ve got to stop it. And the only way you’re going to stop it, the nice way is, we’re reducing taxes very substantially for companies so they’re not going to have to leave because of taxes. We’ll be reducing regulations. Now those are the nice ways of doing it and everyone loves it and everyone’s happy. Businesses, way down. Also middle class, but way down, O.K., taxes and regulations. But when a company wants to move to Mexico or another company — or another country and they want to build a nice, beautiful factory and they want to sell their product through our border, no tax, and the people that all got fired, so we end up with unemployment and debt, and they end up with jobs and factories and all of the other things, not going to happen that way. And the way you stop it is by imposing a tax.”

If you move there’s a 35% tax. No one’s going to move.

“Now, I’ve come up with a number of 35%. There is no tax if you don’t leave. There is no tax at all. You know, people are saying, they don’t understand, really, what I’m doing. I read the Wall Street Journal the other day. Honestly, their editorial board doesn’t get it. I don’t think they understand business. I don’t think the Wall Street Journal editorial board — and I know some of them. They’re really nice. I don’t think they understand business. They don’t understand what I’m saying. There’s a 35% tax, but there is no tax if you don’t move. But if you move your plant or factory and you want to sell back into our country, you fire all your people, there are going to be consequences for that. There are going to be consequences. You know what’s going to happen?…Nobody’s going to move. They’re not going to move. They’re not going to leave. They’re going to stay here.”

The money I spent is peanuts compared to the money I wont make

“If I were going to do new deals right now, I am turning down billions of dollars of deals. I will tell you, running for President, the money I spent is peanuts compared to the money I won’t make. And that’s O.K. because this is so important. What I’m doing is so important. This is a calling. This is so — this is a movement. It’s not just me, it’s millions and millions of people. ”

Trump Cabinet Picks CNBC Interview Notes 11.30.16

Steve Mnuchin

Tax cuts are #1 priority

” This will be the largest tax change since Reagan. We’ve talked about this during the campaign. Wilbur and I have worked very closely together on the campaign. We’re going to cut corporate taxes, which will bring huge amounts of jobs back to the United States…We’re going to get to 15 percent and bring a lot of cash back into the U.S.”

Middle income tax cut promised

“we think by cutting corporate taxes we’ll create huge economic growth. And we’ll have huge personal income. So, the revenues will be offset on the other side. We’ll have a big middle income tax cut. That’s another big part of this in simplifying taxes. Taxes are way too complicated and people spend way too much time worrying about ways to get them lower.”

Offsetting tax cuts with reductions in deductions

“Any reductions we have in upper income taxes will be offset by less deductions. … There will be no absolute tax cut for the upper class. There will be a big tax cut for the middle class, but any tax cuts we have for the upper class will be offset by less deductions that pay for it.”

Open communication with business leaders

” First thing I would say is it starts with an attitude. Of this administration, this president, this vice president-elect is going to have open communications with business leaders. You can see this started because the president-elect called up the CEO of United Technologies and said it’s important to keep jobs here. And Wilbur and I will continue that. And again as he said, this is a great first win without us even having to take the job.”

Want to encourage banks to lend

” So, as we look at Dodd-Frank, the number one problem with Dodd-Frank is it’s way too complicated and cuts back lending. So we want to strip back parts of Dodd-Frank that prevent banks from lending. And that will be the number one priority on the regulatory side.”

We’re going to look at what to do with the Volcker rule

“the number one problem with the Volcker Rule is it’s too complicated and people don’t know how to interpret it. So we’re going to look at what to do with it, as we are with all of Dodd-Frank. The number one priority is going to be make sure that banks lend.”

Interest rates are going to stay low for the next couple of years

“I think interest rates are going to stay relatively low for the next couple of years. We’re in a period time of low interest rates. I think we’ll stay there. And interest rates have come up a little bit, which I think makes sense. I think we’re going to be looking at the Treasury all different types of opportunities. We will look at potentially extending the maturity of the debt because eventually we are going to have higher interest rates, and that is something this country is going to need to deal with.”

Thoughts on Yellen:

“You know, look. I think she’s done a good job at the Fed…I’m not going to comment on whether she should or she shouldn’t [serve out her term]…But I will say we do have two [Fed] governor spots to fill, and that will be high on the priority list.”

Wilbur Ross

Mexico not just about lower costs, also have better trade deals

“Believe it or not, Mexico has better treaties with the rest of the world than the United States does. We’re going to fix that…On a typical car, they save twice as much on tariffs going into Europe out of Mexico as they do going into Mexico to save labor.”

Tariffs are the last thing

“Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going to be increase American exports. Get rid of some of the tariff and non-tariff barriers to American exports.”

It’s just not true that corporate tax cuts will only go to dividends

” That’s just not true. And it’s also not true that all jobs are created equal. A guy who used to work in a steel mill now flipping hamburgers, he knows it’s not the same. So it’s the quality of jobs as well as the quantity, and one of the problems with the recovery is when the newly created jobs are not nearly as remunerative as were the jobs that were lost. That’s a very big structural problem.”

Trump Transition Team Call 11.29 Notes

Washington Post: “President-elect Trump’s transition team is holding daily media calls to update the press on how the transition is progressing. We will be posting the transcripts from these calls after they happen. ”

Jason Miller, the transition team’s communications director

Tom Price is point person on repealing and replacing Obamacare

“the president-elect nominated chairman of the House Budget Committee, Congressman Tom Price, from Georgia’s 6th Congressional District as secretary of Health and Human Services. Dr. Price is a renowned physician who’s earned a reputation for being a tireless problem solver and really Congress’ point person on repealing and replacing Obamacare.”

Some of the legislative points of interest on Obamacare replacement

“the President-elect has laid out a number of markers, as we talk about expanding HSAs, allowing folks to be able to buy insurance across state lines, administering Medicaid at the state levels. There are number of markers that the President-elect has laid out. Obviously we’ll be expanding on that. But it’s important to point out that Dr. Price and Ms. Verma will really be our point people who will be leading the charge on this front. We’re working hand and hand with our congressional leaders and with the Vice-President-elect has been very passionate on this issue to actually come up with a plan that we go forward with.”

Sean Spicer, the Republican National Committee’s communications director

68 meetings with potential cabinet members

“The president and the vice president-elect now had 68 total meetings with people to potentially join the administration or share their ideas. And the vice president and the president-elect have received congratulation calls or spoken with over 41 world leaders.”