Premiers of the peoples republic of china. Pres. Trump thank you very much. We greatly appreciate your joining us at this white house event. This is a very important and remarkable occasion. Today, we take a momentous step. One that has never been taken before with china, toward a future affair and reciprocal trade, as we sign phase one of the historic trade deal between the United States and china. Together, we are righting the wrongs of the past and delivering a future of Economic Justice and security. For American Workers, farmers and families. I want to think the chinese president , who is watching as we speak. I will be going over to china in the not to double or distant future to reciprocate. , a very goodnk him friend of mine. We are representing if and countries. He is representing china. I am representing the u. S. We developed an incredible relationship. I want to thank him for his cooperation drought this complex process. Our negotiations were tough on us. Open and respect all, leading us to this incredible breakthrough. Most people thought this would never happen. It should up happened should have happened 25 years ago, but that is ok. A man who has become a good friend of mine and someone who is talented and capable read we are delighted to be joined by the vice premier and ambassador, and many other representatives from the peoples republic of china. We are especially proud of the efforts of Vice President mike pence, who is with us. Mike, i would like to have you say a few words, please. Thank you, mr. President. It is an honor to be here with you and with the vice premier thisur treasury secretary is a good day. For america, china and the world. It is an honor to be with you. The economy is booming with the strong support of members of congress who are gathered here. Economyxperiencing an that has crated more than 7 million jobs. Unemployment is at a 50 year low. The Household Income has risen by more than 5,000. That is the result of your commitment to cut taxes and unleash american energy. It reflects your commitment to free, fair and reciprocal trade. Early in this administration, you made it clear that the era of economic surrender was over. You took a strong stand for american jobs and American Workers. Friends in china that things had to change. Thanks to your leadership, today, the changs begins. Change begins. [applause] we announced great progress on protecting intellectual and currency manipulation. I know it means so much to you that the greatest impact may well be on american agriculture. Some 40 to 50 billion in purchases secured in this deal that will result in greater prosperity for farmers all across the land. And, mr. President , your commitment to a growing and prosperous america has been the centerpiece of your leadership. And today, with the signing of phase one, its one more example of your commitment to put american jobs and American Workers first. And we recognize,. And we recognize, as you do, mr. President , that differences will remain between our two nations. But today is the start of a new chapter in trade relation between the two largest economies in the world. But i can assure the American People that this president will continue to stand firm and put america first, even as we forge a more productive relationship with china and with the world. Mr. President , you know theres an ancient chinese proverb that says, men see only the present, but heaven sees the future. So let today be the beginning of a brighter future, more prosperous for the American People, the Chinese People, and the world. Thank you, mr. President. [applause] trump thank you, mike. An incredible job. Incredible guy. I also want to give special thanks to our u. S. Trade representative, whos been kept very busy. Hes doing a lot of deals. Well have another big one next week. It should get approved very shortly, and thatll be tremendous, with canada and mexico. But well talk about that next week. But Robert Lighthizer are we keeping you busy enough . Huh . Poor guy cant sleep. He tosses and turns. What happened to him . Here. Pres. Trump im sorry. That was dropped. Pres. Trump oh, ok. Thanks. Ambassador lighthizer, im all purpose. Thats right, you are allpurpose, come to think. But Bob Lighthizer is really an outstanding guy. He gets along with people. Hes smart, hes sharp. And he understands trade better than anybody. When i first took this, i said, i got to get the best guy. And all signs pointed to Robert Lighthizer. So thank you very much, bob. Thank you very much. [applause] i have one question, was this an easier job or a tougher job than you thought . It was tougher than i thought. Pres. Trump i had a feeling you might say that. Also, our great treasury secretary, steven mnuchin, has worked with bob hand in hand. And thank you very much, steve. Great job. [applause] pres. Trump so this really is a landmark agreement. But along with them, we had the exceptional efforts of jared kushner. Where is jared . Where is jared . Our brilliant jared. [applause] pres. Trump great job, jared. He worked hard. He left a beautiful, nice, very prosperous real estate business, and came here. And, i can tell you, that was harder. This is harder than real estate in new york, isnt it, jared . Right . A lot harder. Pres. Trump but youve done a fantastic job. You dont get people like that. So thank you very much. And, ivanka, nice to have you here. Thank you, honey. Also somebody that ive heard for 35 years. His voice is just a great gentleman, a friend of mine, but a great gentleman. We brought him in and he has been outstanding. The only problem is he doesnt like going on television very much. Hes a little bit shy about that. Larry kudlow. Wheres larry . [applause] pres. Trump where is larry . We had a day where the market went down 1 trillion. Think of that. In other words, it was one of those few days, because weve had 141 days where we hit alltime highs. And we just broke as you know, we just broke the 29,000 mark on the dow, just now, as we were walking in. The market is up substantially today. We have all these business leaders. Im sure they dont care. But larry kudlow went out into the beautiful lawns of the white house. Actually, he was standing in the middle of the rose garden. He had a beautiful scarf waving in the wind. He was everything perfect, right out of greenwich, connecticut. [laughter] pres. Trump and he started talking. And by the time he finished, i said, you just made a trillion dollars. A trillion. Because the market went up like 250 points. I said, larry, what the hell did you say . And it didnt matter. But we were even. We went from being a trillion down to even, and that was pretty good. Larry, youve been fantastic. Thank you very much. Appreciate it. And, by the way, i just see in the audience our great ambassador to china, right . Governor. So we had the governor of iowa, and he loves china. And hes the long youre the longestserving governor in the history of our country. Like 24 years. And i called him. I said, governor, you have to do me a favor. Because i remember one conversation i had with him. I was going in to make a speech, before the election, and he said, sir, please dont say anything bad about china. Its the first time anyone ever said that to me. And i said, who is this guy . Hes the governor of iowa. He just said, dont say bad about china. So i had to rip up about half of my speech, right . And i said, why . And he said, well, we do a lot of business. Ive been dealing with china for 35 years, with corn and all of the different things. And he told me a story that was amazing. He said, you know, 35 years ago, when i started, i met a man named xi. He wasnt president then; he was a young man. And the governor came back. He told his wife, he said this is 35 years ago. And its documented. He said, i just met the future president of china. And nobody thought much about it. And you know what . Twentyeight years later, you turned out to be right. And you have been an incredible ambassador. And they like each other so much. So when it came time to picking the important position of ambassador, i said, havent you had enough after 24 years being governor of iowa . He said, if you want me to do that. And its been a great youve been a great help. Thank you very much, ambassador. I appreciate it. [applause] pres. Trump done a great job. Nobody could have done that job better. A man i think i can go on the opposite side of the spectrum, perhaps, from the governor. His attitude is a little different. Our trade advisor, peter navarro. Right, peter . [laughter] pres. Trump hes a little different. We have all types. We have all types. A deputy chief of staff, chris liddell, whos been with us for a long time, and hes done a fantastic job and had a great business career. Commerce secretary a legend on wall street wilbur ross. Wheres wilbur . Thank you. Wilbur, thank you. A man who knows agriculture as well as anybody in the world. We were looking for an agricultural person, and we wanted to go political, and we were looking for somebody that would fit perfectly. And sonny came in, and it was over. I learned more in that half hour about agriculture than i joni, right . Than i could ever have learned, possibly. Sonny perdue has been incredible. And were taking care of our farmers that, i can tell you. So, sonny, thank you very much. Great job. Thank you. Thank you, sonny. And a woman transportation is going very well. Shes done an incredible job. Were getting approvals down now from 20 years 21 years to 2 years. And it may get rejected for environmental or other reasons. But we have it, lindsey, down to about two years. A highway which would have taken 19 to 20 years to get approval, we have it down to 2. And we want to get it down to one. And if it doesnt work, were going to say, you dont build it. But youre not going to wait 22 years to find out you cant build the highway. And she has been fantastic, secretary of transportation elaine chao. Thank you, elaine. Thank you, elaine. So we have tremendous numbers of people here, and im saying, do i introduce them . But i think i sort of should because what the hell. This is a big celebration. And, by the way, some of the congressmen may have a vote, and i dont its on the impeachment hoax. So, if you want, you go out and vote. Id rather have. Its not going to matter, because its gone very well. But id rather have you voting than sitting here, listening to me introduce you, ok . They have a hoax going on over there. Lets take care of it. So, if any of you guys want to leave, we will not be where is Kevin Mccarthy . The great Kevin Mccarthy. Ok, good. Im glad. Can i be honest . Im glad. I like it much better that way. And, by the house folks, 195 to nothing. And we got 3 democrats, and one of them actually left the democratic party, came over republican. And what a job youve done. So i just want to thank you all. Really tough. I love that. So we have some incredible people in the audience, and id just like to introduce a few a very good friend of mine two very good friends of mine, sheldon adelson, miriam adelson. Thank you very much, both, for coming. Theyve been tremendous supporters of us and the republican party. And theyre great people. A man who always liked me because hes smart, so smart. The great lou dobbs. You know, at first, he said, hes the best since reagan. Then, he got to know me more and more, and he said, hes even better than reagan. Then, a few weeks ago, somebody told me and i watch all the time, but somebody has got a very important show, actually. Tremendous audience and very everybody in this room watches. But lou dobbs, he said, hes the greatest of them all. I said, does that include washington and lincoln . And he said yes. Now, i dont know if he was for real, but thats ok. But the great he is the great lou dobbs. Thank you very much, lou. [applause] thank you. Great show, lou. And a man who Everybody Knows he knows more than probably everybody in this room put together. Hes seen it all. And he made a statement to jared. Jared came in and said, you know, Henry Kissinger told me, how did the president ever pull this off . I said, can i quote henry on that . Because henry is outstanding. And when henry is impressed with something, then im impressed. And, henry, were impressed with you. Thank you very much for being here. Thank you, henry. [applause] thank you. And, michael pillsbury, thank you very much. And, susan pillsbury, thank you very much. And youve been saying some fantastic things about china and about us. And we have a good partnership. This is going to be something thats going to be very special. Were going to talk about it in a second. A friend of mine, steve schwarzman, is here. Steve, i know you have no interest in this deal at all. Im surprised youre not actually sitting over here on the ledge of the stage as opposed to but steve has done a great job and very Good Relationship with china and very Good Relationship with us. Nelson peltz is here, a friend of mine. Wheres nelson . Nelson is around here someplace. Hi, nelson. What are you doing sitting all the way back there, nelson . Hows General Electric doing, nels . Hell straighten it out. Youll straighten it out. He came in nice and late. He didnt get in too early, thats for sure. Hank greenberg is here. Hank. If they took care of hank, they wouldnt have had the problems that they had. Wheres hank . Hank greenberg. [applause] oh, hank. If hank stayed there like he should have, you wouldnt have had the problem that you ended up having with our economy. But its great to have you, hank. Thank you very much. We have some tremendous senators here and some really incredible people. And i want to just say, the ones that are here, if i miss your name, stand up and i will promise to say it, because a lot of people wanted to be here. A senator who has been new to the game, and he took it up so quickly and so easily, and he ran a race that was undoable. The person he ran against was unbeatable. Nice woman, heidi, but unbeatable. And then kevin cramer said, i can beat her. And i think he only won by about 12 points, right . And they say hes the only man in north dakota that can win. And i said, well do it. And i had him in my office three times and i said, kevin, you got to do it. And i said, hes doing it. And he turned me down. Then he came back again well, this time, i know hes doing it. He calls me back and he said, sir, im not going to do it. He said, you know, in all fairness, ill call you back. But i never give up, do i . So now, instead of being a congressman, hes a senator. And youve been great. And thank you very much. Kevin cramer. [applause] mike crapo, a friend of mine. These are all warriors. These are incredible. Mike, thank you very much, mike. What a job you do. Mike is one of those guys goes unsung, but behind the scenes, theres nobody sharper, smarter, and we all respect you and love you. Every one of these people. Thank you very much, mike. Appreciate it. Steve daines. Same thing i can say for my steve. And hes got a hell of a football team. How did they do this year . All right . They going to be back . They won it again . They have a good team. They have a good team. Joni ernst. You got ethanol, so you cant be complaining, right . Steve. Steve, thats good for you too. You know, joni would call me, along with chuck grassley; theyd call as a tandem. You cant beat the two of them. All they want to know about is ethanol. Ethanol. But we got it done. Deb fischer same boat, right, deb . You want that ethanol for nebraska. And a friend of mine, lindsey graham. Hes become a great friend of mine and hes an outstanding man. He loves our country. He really does love our country. He works like hell. Do you do anything other than politics . Sen. Graham golf. Pres. Trump hes likes golf, too. He likes golf too. Much better golfer than people would understand. He likes golf. But hes a great guy. You get it done. He brings people together. Chuck grassley. Wheres chuck . Wheres chuck . Chuck. Will you stand up for a second . This guy is the toughest guy. He can Say Something in a nice manner and everybody is afraid. Right . [laughter] he made comey choke during the hearing. He said, did you leak anything to the press . What . What . What . What . Comey choked like a dog, and he was being nice when he said it. Chuck is outstanding. Unbeatable between you and the governor, those are two pretty good ones, right . Unbeatable under any circumstance. He makes the rounds like virtually every night. I think you still have never missed a vote. Have you ever missed a vote . He was chuck was huh . Sen. Grassley since 1993. 93. Trump he was in my office a month ago, and i thought it was very rude. He said, sir, im sorry, i have to leave. Why . That was right in the middle of a meeting. I said, why . He said, because i have to vote and ive never missed a vote or some i said, how many years . He said, 1993. Thats a long time. I said, you know what . Go leave. Thats a good record to keep. Because hes a solid, reliable, unbelievable person, and hes a friend of mine. So thank you very much, chuck. And let them know also about that ethanol, chuck. We brought home the ethanol. Man, when you have those two calling they were not nice about it, jerry moran. I want to tell you wheres jerry . Jerry, they were not nice about the ethanol. I want to say that. And jerry, with what he did with were working together very closely together with the vets. And its incredible whats happened with what we approved on choice. Its made a whole big difference. You dont hear complaints about the va anymore. Do you notice . They go out, see a doctor. If they have to wait two months, or if they have to wait two days, they go out and see a doctor. Jerry moran, folks. He did a fantastic job. [applause] rob portman, great friend of ours from ohio. Rob, fantastic job. I just left ohio. They love you. They love you there, and youve done a fantastic job. And you are my friend. Rob portman. [applause] thanks, rob. Pat roberts. A man from kansas, who is going to be leaving us. I cannot believe that youre not running again. You have at least at least another 12 good, solid years in the senate if you wanted them. You have to do it. Youre sure, right . Ok. Hes made that decision. But, pat, thank you very much. And this is very important to pat and to mike rounds, because whats happened here, if you look, its so much about everything you stand for, especially the farmers. And the farmers are going to be so happy. Where is mike rounds . Mike . Mike . Stand up, mike. Hes another one. He was brutal to me. He would call, i got to get this done. You got to get it done. Right . Thank you very much, mike. Fantastic job. And dan sullivan, from the great state of alaska. And i stop there every time i can, right . And i won by a lot. They like me in alaska, right . But they like you too, dan. And thank you very much. Kevin mccarthy, as you know, left for the hoax. Well, we have to do that, otherwise it becomes a more serious hoax. And mark meadows is a friend of mine, right from the beginning. Thank you, mark, very much. Special guy. Special friend. Great wife, too. His wife actually supported me long before him, but he thinks i dont know that. She went on women for trump, when it wasnt so fashionable. Like, on the worst day of my life, she was doing women for trump tours with 50 women on buses all over the great state of north carolina. Shes fantastic. Vern buchanan. Thank you very much. Thank you, vern. Great job youve done. Mike conaway. Thanks, mike. Thank you, mike. By the way, kristi, thank you for being here. I didnt know you were going to be here. Thank you. Stand up. Were going to do a big fireworks display, right . Mount rushmore. Were going over i think im going to try and be there on july 4. So, the governor called. She ran a great race, a tough race. That was a tough competitor you had, right . A big star. And but she was a bigger star, it turned out, lindsey. But she said, do you think we can get fireworks back at Mount Rushmore . I said, why . They havent been there for like for 20 years. I said, why . Environmental reasons. I said, you mean you cant have fireworks because of the environment . Yeah, environmental reasons. I said, what can burn . Its stone. You know, its stone. Its granite. So nobody knew why; they just said, environmental reasons. So i called up our people. And within about 15 minutes, we got it approved, and youre going to have your first big fireworks display at Mount Rushmore, and ill try and get out there if i can. Ok . [applause] right . Thatll be great. Thank you very much for being here. Thanks, kristi. Mike kelly. Wheres mike . Mike, thank you very much, mike. What a friend. Drew ferguson. What a friend. These are great people, im telling you. Darin lahood. Darin. Thank you very much, darin. Great job. Michael mccaul. You did a phenomenal job 3, four days ago, mike, with your speech on the floor. That was incredible. Very inspiring. Patrick mchenry. Hes a number one, hes a great guy. And number two, hes got the best name in politics. If i had that name, i would have won 20 years ago. Patrick mchenry. A man whos got such courage honestly, he deserves a medal. Hell probably get one. We still have to win to get medals though, right . We cant give medals if we dont win. But this guy has never lost in his life. He is so tough and so smart. Devin nunes. Thank you. Stand up, devin. Everybody knows him. What they put him through. What these phony people, what these dirty cops and all of the others put you through and, man, you survived it better than ever, and everyone respects you. And even meadows respects you, and he respects very few people. So, thank you, devin, very much. Great job. Adrian smith. Thank you, adrian. Thank you very much. And dont feel again, you guys are all set. Ive introduced you not much more for you, but you know. But youre going to hear some great things about china, and youre going to hear some also great things now because we have a whos who of the world of business with us today. David abney, of ups. David . Where are you, david . You can stand up, if anybody wants to. If you dont want it you know, if your company is not doing well, you may not want to stand up. But ups is doing very well. There will be a couple that will just sort of slink back into their chair. Theyll pretend theyre not here. Thank you, david. Great job youve done. Darius adamczyk, of honeywell. A great company. Thank you very much. Great equipment you make. I have a lot of it. I use a lot of it, and the country uses a lot of it. Ajay banga, of mastercard. Thank, ajay. Fantastic job. Josh bolten, business roundtable. Thank you, josh. Great job. David calhoun. Hes got a very easy company to run. He just took over boeing. Wheres david . David. Wheres david . Mr. Calhoun right here. Pres. Trump stand up, david. See, he didnt want to stand. Let me tell you, its not your fault. You just got there. Youll straighten it out quickly, please. Mr. Calhoun we will. Pres. Trump ok. I have no doubt. Its a great company. Les daniels, ustr, actpn. Ok . Dan dimicco. Weve been fighting the steel things for 20 years together, dan. Id like to say 30, but i dont want to do that. Right . Weve been fighting together for a lot longer than 20 years on the mr. Dimicco were winning. Pres. Trump and now were winning. Finally. It took 25, 30 years. It took a little change at the top, didnt it . But youve been a warrior for for getting really taken advantage of as a country. And youve been a warrior, and i appreciate it. Right from the beginning, dan and i we it was a fight of two people against the world. Tom donohue, u. S. Chamber of commerce. And thats wheres tom . Thank you, tom. Great job. Brian duperreault, of aig. Do you know that company, hank . Aig. Did you ever hear of aig, Hank Greenberg . Thank you very much. I appreciate it, brian. Mary erdoes, jpmorgan chase. They Just Announced earnings, and they were incredible. Where where are you . They were very substantial. Will you say, thank you, mr. President at least . Huh . I made a lot of bankers look very good. But youre doing a great job. Say hello to jamie. I think were seeing him tomorrow. Nancy falotico, of ford. Nancy, where are you . Hi, nancy. So young. So young. Thats very impressive. Thank you very much. Youre doing a good job. Jim fitterling, dow chemical. Incredible company. Jim. Thank you, jim. Jack fusco, cheniere. Jack, thank you. Great. Meg gentle, tellurian. Where are you . Hi. Congratulations. Ken griffin, citadel. What a guy he is. Where are you, ken . Where the hell is he . Hes trying to hide some of his money. Look, he doesnt want to stand up. Where the hell is ken . See, steve, youll stand, and hes very quiet about it. Hes in here someplace; he just doesnt want to stand. Harold hamm. He puts a straw into the ground, and oil pours out. Its true. Other guys spend billions and billions of dollars; they cant find oil. This guy takes a straw, he goes like this, and oil pops up. Harold, my friend. Hes been with me from the beginning. Right, harold . He was with me from the day i came down the escalator with our first lady. By the way, do i see john thune in this audience . John how the hell do i not introduce john . They didnt have your name down. I cant believe it. Will you stand up . What a great guy he is. [applause] i also see kevin brady. Thanks, kevin. Great job on the tax cuts. Al kelly, visa. Al kelly. Al kelly, thank you. Ryan lance, conocophillips. Ryan, great. Youre doing fantastically well. Most of you, i can say, youre doing fantastically well. Thank you, mr. President. Dont worry about it. Dont feel guilty. Alan macdonald, citibank. Citibank. Good. Boy, you brought that back so far. I remember seven, eight years ago. But citibank is doing fantastically well. Raymond mcdaniel, moodys. Good. Are you giving us good ratings, raymond, please . Ok . Were doing pretty good, right . Sanjay mehrotra, of micron. Incredible company, the job youre doing. Sanjay. Thank you, sanjay, very much. Steve mollenkopf, qualcomm. They had a merger going, and i said they should let that merger go by. I called up president xi, and i they rejected it. Remember . And then they accepted it. By that time, you were off to another deal. You didnt even want it. But nobody else could have done that, right . But you could have had it. Jim morrison, of jeep. What a great brand jeep is. What a job theyve done. That is a great brand. And congratulations. Larry nichols, devon energy. Larry . Larry. Thank you, larry. Great job. These are great people. Jason oxman, iti. Jason, thank you. Great job youre doing. Scott schenkel, ebay. I sign things, and the next night, i see them on ebay. Theyre sold. Theyre sold for a lot of money. I said, sir, could i have you just would you sign my sneaker . Yes. Then, two nights later, i see it on ebay, selling for 5,000. I say, what kind of people are these, lindsey . Terrible. Sometimes its the senators and the congressmen that do it. Thats. [laughter] gary shapiro, cta. Gary. Great job, gary. Greg smith, of boeing, also. And, greg, get that going. Work together. Get it going. You know, boeing makes a tremendous portion of our gdp. I had no idea it was such a big company. It was i mean, i know it was big, but it could have up to a half a point of gdp. Some people say even more. So weve got to get that one moving fast, and its going to be better than ever, i think. Mike sommers, api. Mike . Thank you, mike. Paul taylor, of fitch. Thats another good ratings group. Are we doing ok at fitch . Good. Otherwise, i wouldnt have introduced you, if i thought. [laughter] robert thornson, news corp. Wheres rupert . Is rupert not here . I cant believe rupert is not here. Is he the greatest though, or what . He was going to get 40 billion for his thing. He sold all the stuff he didnt want. He sold it to some group that doesnt like trump as much; thats the only problem. But he was going to get 40 billion, and he said, i dont know, they keep bidding this thing up. They end up paying what . 75 billion . And he kept the best stuff. So rupert is doing right, huh . Rupert is fantastic, and that whole family is just a great family. So say hello, robert. And john thornton. Oh, john. Wheres john . Wheres john . John is great. Good job, john. [applause] thank you for all the help, too. Great job, john. Jay timmons, nam. Jay, thank you very much. Thanks, jay. Stephen vaughn, king and spalding. Stephen. King and spalding. I could use some good legal advice. Do you have some good lawyers over there . I could use some good lawyers, right . Ah, to hell with it. I just have to suffer through it the way i have all my life. Somewhere along the line, they must be pretty good, right . Jonathan ward, atlas organization. Jonathan, thank you. Great job youve done. Kevin warsh. Kevin. Wheres kevin . I dont know, kevin. I could have used you a little bit here. Why werent you more forceful when you wanted that job . Why werent you more forceful, kevin . Youre a forceful person. In fact, i thought you were too forceful, maybe, for the job. And i would have been very happy with you. But, kevin, thank you for being here. You understand that very well, right . It bothers me when germany and other countries are getting paid to borrow money. This is one i dont know where that all leads, but we have to pay. Were the number one in the world, by far, and we have to pay for our money. Our Interest Rates are set high by the fed. Our dollar is very high, and relatively speaking. But when other countries get literally, theyre under. They have negative rates meaning, theyre under. They get paid. I love this. This concept is incredible. Again, you dont know where the hell it leads. But you borrow money, and when you have to pay it back, they pay you. This is one that i like very much. And im going to talk to you about that, lou dobbs. So were set at two. Tell me, why are we paying and other countries are getting money when they get paid back . I really want to know, who are the people that buy this stuff . Who puts money into something when they say, this is a guaranteed loss . But thats a whole Different Group of people than i know. Glenn youngkin, of carlyle. Carlyle group. Great group. So, for decades, American Workers, farmers, ranchers, manufacturers, and innovators have been hurt by the unfair trade with china. Forced Technology Transfer and intellectual property theft have been huge problems. Since china joined the World Trade Organization two decades ago, we have racked up nearly 5 trillion the vice premier, i hope he is not listening to this in trade deficits, lost millions and millions of manufacturing jobs, and saw tens of thousands of factories close. And that had to do, also, with mexico, and, to an extent, canada. What they did to this country with trade and trade deals nafta. We had no deal with china. I mean, we had no deal. And it was like just easy pickings. For years, politicians ran for office, promising action to remedy these practices, only to do nothing but allow them to continue. And it was pillage. As a candidate for president , i vowed strong action. Its probably the biggest reason why i ran for president , because i saw it for so many years. And i said, how come nobody is doing something about it . In the meantime, immigration, and building our military also important. But thats probably the biggest reason. In june of 2016, in the great state of pennsylvania, i promised that i would use every lawful president ial power to protect americans from unfair trade and unfair trade practices. Unlike those who came before me, i kept my promise. They didnt promise too hard but they didnt do anything. And i actually think i more than kept my promise. Now our efforts have yielded a transformative deal that will bring tremendous benefits to both countries. We have a great relationship with china, we have a great relationship with the leadership of china, and china fully understands that there has to be a certain reciprocity. There has to be. It cannot continue like this. It would be dangerous for it to continue like it was. The agreement we signed today includes groundbreaking provisions in an area of critical importance to the United States, protecting intellectual property. So the deal youre seeing today is a much bigger deal than we have it very much guarded. They asked one of our democratic cryin Chuck Schumer what do you think of the deal . Two weeks ago. He had no idea what the deal was. Never saw the deal; its totally guarded. I dont like it. I dont like the deal, he said. Well, have you seen it . Yeah, i think i know what, well, why dont you like it . Well, they took the tariffs off. Actually, we didnt. He didnt know anything about the deal. He just said exactly what probably you should say, as a politician. How do you like the deal . I dont like the deal. Do you know the deal . Uh, uh, sort of. He never saw the deal. He knew nothing about it. He would love the deal, but he cant say it, because hes on the other party. But maybe patrick would do the same thing, right . But you know what . I would say that you shouldnt. This is an unbelievable deal for the United States. And, ultimately, its a great deal for both countries. And its going to also lead to even a more stable peace throughout the world. China is helping us with north korea. China is helping us with a lot of the things that they can be helping us with which you dont see in a deal, but they have been very, very helpful with respect to kim jong un, who has Great Respect for president xi. And its all a very, very beautiful game of chess, or a game of poker, or i cant use the word checkers because its far greater than any checker game that ive ever seen. But its a very beautiful mosaic. But china is giving us a lot of help, and were giving them a lot of help on things that we help them with. And one of the things that we are also talking about is fentanyl. And president xi has already instituted very strong penalties and arrested large numbers of people who are sending fentanyl into our country. That never happened before. [applause] so china has made substantial and enforceable commitments regarding the protection of american ideas, trade secrets, patents, and trademarks. This was not, according to most they didnt know we covered any of this. Weve covered a lot of this. Its phase one. But theyre doing many more things in phase one than anyone thought possible. China has also pledged firm action to confront pirated and counterfeit goods, which is a big problem for many of the people in the room the counterfeiting. Well make sure that this happens, and we have very, very strong protection. In addition, the agreement addresses forced Technology Transfer policies that can require companies to give away their knowhow and trade secrets. So now, when boeing has some work done over in china or wants to sell planes over in china, they dont have to give up every single thing that theyve ever , you know, that theyve worked so hard to to develop and to come up with. Are you guys hearing that . You dont have to give up anything anymore. Just be strong. Just be strong. Dont let it happen. But you dont have to do that. It was a terrible it was a terrible situation going on there. And a lot of it was because our co our companies, i have to say this, were very weak. You were very weak. You gave up things that you didnt have to give up. But now, legally, you dont have to give them up. Under this deal, transfers and licensing of technology will be based on market terms that are fully voluntary and reflect mutual agreement. Phase one will also see china greatly expand imports of the to the United States. We want to buy a lot of their product inexpensively. But we have an additional 200. They are going to be what what is, to me, very important. Number one, theyre going to be spending much more than 200 billion over the next two years, including up to 50 billion just on agriculture alone. And some of the numbers that i wrote down on manufacturing, theyll be spending 75 billion. Theyll be putting into our country, ok . Theyre going to be putting into our country 75 billion on 50 billion worth of energy. So thats great for our energy people. Were the number one in the world now; we werent. Were now the numberone energy group in the world. Were bigger than saudi arabia, and were bigger than russia. Were bigger than everybody. [applause] President Trump and for those people that are in the room that are very much into it, of which we have a lot of the oil and gas folks in the room, im approving some pipelines in texas momentarily, which will give you which wouldve taken 15 more years to get. But youre going to have them very quickly. I mean, we take from a 15year period to about a 2month period, and im angry at my people for taking so long. Right . But if we do that, well be up about another 22 in oil and natural gas. So we have 50 million for 50 billion for energy, 50 billion for agriculture, and 40 billion to 50 billion on services, including, rob, financial services. So the banks are going to be doing great. Credit cards all of the things that you do so well. Youre going to be able to now go into china and really do a job. And theyre going to be working with you. One of the other things i have to say is that protection of intellectual property we have very strong protection of intellectual property. A lot of people thought this deal was just a simple deal for the farmers are going to get 50 billion. Remember i said, lindsey, they have to go out and buy larger tractors . China was doing 16 billion with the farmers. And they stopped. Why not . You know, theyre in a negotiation. So our people agreed to 20, and i said no, make it 50. What difference does it make . Make it 50. They say, sir, our farmers cant produce that much. I said, i love our farmers. Let them tell me they cant do it. And i said, tell them to go out and buy a larger tractor. Buy a little more land. But theyll be able to do it. I have no doubt theyll be able to do it. [applause] trump so, the other thing that i think we have is the currency devaluation standards. We have a very strong standard for currency devaluation. And, in all due respect, china was one of the greats in history at doing that, and were going to work on it together. But currency devaluation will now have some very, very strong restrictions and very powerful restrictions. And we have just full again, the word one of the strongest things we have, total and full enforceability. And you know what that means, total, full enforceability on all of this. So, the agreement tears down major market barriers for u. S. Food and agricultural exports. China will now welcome american beef and pork, poultry, seafood, rice, dairy, infant formula, animal feed, biotechnology, and much, much more. Because frankly, you know, they were not doing things that they were supposed to be. And thats ok. Because now they will. The deal will also benefit energy, manufacturing services, and all sectors of the economy. And i will say this, this deal again, they thought it was a 50 million agricultural deal. Billion now its much agricultural deal. Now its much more than 200 billion, of which 50 is agricultural. But the rest is in all of the other things that we just discussed, especially for financial. And you should really look at it. And you have a free pass. And you dont have to worry about the 49 where you cant own, because youre going to be able to own now. And youre not going to have to take partners that are forced upon you. Its an incredible deal from that standpoint, too. Were delighted that the chinese consumers will now enjoy the greater access to the best products on earth those made, grown, and raised right here in the usa. So phase one, which has been really incredible you know, we almost had the whole deal done, but this is better. This is a more detailed deal for this aspect of the deal. It was such a big deal before. And this is a much more much more targeted, much more powerful deal for everything were doing, which is a very large part of the deal. But were going to be starting phase two, as soon as this kicks in. Well be starting phase two. Were leaving tariffs on, which people are shocked, but its great. But i will agree to take those tariffs off, if we are able to do phase two. In other words, were negotiating with the tariffs. We have 25 on 250 billion worth of goods. And then were bringing the 10 down to 7. 5 on 300 billion worth of goods plus. So but im leaving them on, because otherwise we have no cards to negotiate with. And negotiating with liu is very tough. But they will all come off as soon as we finish phase two. And that would be something that some people on wall street will love, but from what i see, they love this deal the way it is now. But we have very strong cards. And, frankly, china and i are going to start negotiating with bob and steve and everybody very, very shortly. So, from this nations vibrant heartland to our gleaming cities, millions of workers and farmers and innovators have waited decades for this day. We never even had a deal with china. In all fairness, i dont blame china. I blame the people that stood here before me. I dont blame china. I told that to president xi. I was in beijing, making a speech, saying how theyre ripping us off. And guess what . He wasnt too happy. I looked at him. I said, hes not happy. And i said, i Better Change the speech quickly. So i said, i dont blame him. I blame our president s. And im right. We shouldve done the same thing to them, but we didnt. We didnt. We never had a deal with them. They would do whatever they wanted. With this signing, we mark more than just an agreement; we mark a sea change in international trade. At long last, americans have a government that puts them first at the negotiating table. First in trade. First in every deal, every decision, and every action we take with incredible enforceability. As we move on to phase two, i look forward to continuing to forge a future of greater harmony, prosperity, and, really, commerce commerce and far beyond commerce, between the United States and china. This is something that far beyond even this deal its going to lead to a Even Stronger world peace. We now have we now have a big investment in each other and in getting along with each other. And this deal is phase one. Well probably be able to conclude it with phase two. We dont expect to have a phase three. But its something that we all want to get done, and itll be a tremendously big deal. This is something thats going to be so special, however, to our manufacturers, our farmers, our bankers, our service people. Nobody has ever seen anything like it. This is the biggest deal there is anywhere in the world, by far. And thats good. Were doing another big one next week. But this is the biggest deal anybody has ever seen. And it can lead to being a deal thats unprecedented, because china has 1. 5 billion people, and ultimately, in phase two, were going to be opening up china to all of your companies. So i hope you folks can handle it. So now id like to ask ambassador lighthizer and secretary mnuchin to say a few words, please. Thank you. [applause] ambassador lighthizer mr. President , mr. Vice president , mr. Vice premier, it is an honor to be here for this momentous event. The president has long fought for fair and balanced trade for americans. He has, for years, complained about our enormous trade deficit with china and the unfair practices which have, in part, contributed to it. Indeed, solving the trade crisis was a major objective of his campaign and of his administration. The United States and china are two great countries with two great economies, but two very different economic systems. It is imperative that we develop trade and economic rules and practices that allow us both to prosper. The alternative is not acceptable for either of us. This phase one agreement is the result of over two years of hard work. It is an important part of the president s economic plan, and it is a big step forward in writing the rules needed and developing the practices that we must have going forward. This agreement will benefit both the United States and china. I am grateful to the president for allowing me to be part of this plan. I am grateful to secretary mnuchin, my friend with whom i have worked so closely on this and on so many other matters. Finally, i would like to thank and acknowledge the more than 60 men and women at ustr and other agencies who have worked so hard on this, day and night, for so many months. I should begin with ambassador jeffrey gerrish, whos my deputy, who led this effort. Thank you for your patriotism. I would also like to single out ambassador gregory doud, who is my agriculture deputy [applause] lighthizer and the assistant ustr responsible for this enormous effort, terry mccartin. [applause] ambassador lighthizer this was a great this was a Great Team Effort by my office, as well as the departments of treasury, agriculture, commerce, and many others. I should all also acknowledge the hard work of the chinese side. Vice premier liu he is a leader who is digital and, patriot diligent, patriotic, as near as i can tell, always working; and has proven himself honorable. To appreciate [applause] lighthizer we appreciate also the efforts of minister zhong. Thank you to liao min, his principal the vice premiers principal deputy, and the rest of your team. Once again, congratulations, President Trump. And congratulations, president xi. Secretary mnuchin, thank you secretary mnuchin thank you very much. Mr. President , mr. Vice president , under your leadership, the economic policies of this administration are working. Tax cuts, regulatory relief, and now great trade deals are making the u. S. Economy stronger and helping American Business and workers and farmers. This is an incredible accomplishment. I want to particularly thank ambassador lighthizer. Youve done an extraordinary job leading this effort across, literally, in enormous resources. Every Single Agency contributed to this. The white house. This was a real team effort. So thank you very much for your extraordinary job. Id also like to thank the vice premier and his team. We could not have done this without all of you. This was a lot of hard work. And again, id like to thank you and president xi. A great step forward, momentous agreement between our two countries. Thank you. President trump by the way, i have to just tell you that a woman is in the room who loves her state so much. And i didnt introduce her before because i wanted to say for you have been so great. Would you please stand up, shelley . West virginia senator. Thank you. Great. [applause] President Trump thank you, shelley. So i want to, again, thank the vice premier for the work weve done together. Its been its been an incredible number of months. It was stop and go. And it looked like it was pretty much going to be stop and never go. But id like to now invite you, on behalf of the great nation and it is indeed a great nation. In fact, id like you to just relax a little while. Take it easy. Go out, see a movie. Tell president xi i said, president , go out. Have a round of golf. See a movie. No, no, no. I am too busy. But they are workers. This china is an incredible, incredible nation. And id like to have you say a few words. Mr. Vice premier, please. [applause] somebody the vice premier would President Trump the vice premier would like to read a letter that was just sent to me, i found out, from president xi. And well ask the interpreter to come up, please. Ok . Thank you very much. Thats very nice. Vice premier liu thank you, President Trump. Now, may i read out the message from president xi jinping to president donald j. Trump . Sorry. Mr. President , as china and the United States sign the phase one trade agreement, i asked vice premier liu he to bring to you my warm greetings. As i said during our phone call on the 20th of december, last year, conclusion of the phase one trade agreement between china and the u. S. Is good for china, for the u. S. , and for the whole world. It also shows that our two countries have the ability to act on the basis of equality and Mutual Respect, and work through dialogue and consultation to properly handle and effectively resolve relevant issues. In the next step, the two sides need to implement the agreement in real earnest and optimize its positive impact so as to make even greater progress in chinau. S. Trade and Economic Cooperation. To maintain healthy and steady growth of chinau. S. Relations serves the interest of both countries and requires joint efforts from both sides. In that spirit, i hope the u. S. Side will treat fairly Chinese Companies and their regular trade and investment activities, and give support to the collaboration between enterprises, research institutes, and schools and colleges of the two countries as it will help enhance mutual trust and cooperation between us. China is prepared to work with the u. S. In that direction. And i will stay in close touch with you personally. I believe that under our guidance, chinau. S. Relations will deliver more results and bring greater benefits to our peoples in the year ahead. The Chinese Lunar new year is just a few days away. I and my wife peng liyuan extend our seasons greetings to you, to melania, and your family. May you all enjoy happiness and success in the new year. [applause] vice premier liu honorable president donald trump, honorable Vice President mike pence, ambassador lighthizer, secretary mnuchin, colleagues, friends, ladies and gentlemen, good afternoon. Today, china and the United States will be officially signing the phase one trade agreement. First of all, allow me to pay tribute to our two president s. I also want to thank the u. S. Principals, our two economic teams, and all those who have made their contribution to this phase one trade agreement. As two great countries with important responsibilities in world affairs, china and the United States, with the larger picture in mind, have taken a serious approach to our differences and worked to manage them appropriately, reaching phase one trade agreement. It is good for china, for the United States, and for the world. This is a mutually beneficial and winwin agreement. It will bring about stable economic growth, promote world peace and prosperity, and is in the interest of the producers, consumers, investors in both countries. At the same time, this agreement is not directed at, nor will it affect, the lawful rise in interest of any third country. It is in line with wto rules. A cooperative economic and trade relationship is the propeller of the overall chinau. S. Relations. Over the past two years, the two sides encountered some difficulties in the economic and trade field. At times, there were setbacks in our trade talks because, on some issues, we dont see eye to eye. However, our two economic teams do not give up with relentless efforts from both sides. On the basis of equality and Mutual Respect, we have reached this phase one trade agreement. As we chinese often say, one should not be daunted by difficult problems because there are always more solutions than problems. [applause] vice premier liu this is an extensive agreement. After it is signed, china will work with the u. S. At in the principle of equality and Mutual Respect, strictly honor the agreement, accommodate each others core concerns, and ensure the good implementation of the phase one trade agreement. It is the pressing need and will also play an Important Role in the growth of bilateral economic and trade relations in the future. As to where we will go from here, there is a chinese proverb that goes, the beginning is the most difficult part. There is a similar saying in english, a good beginning is half the success. They mean the same thing. It means that we need to continue to be problemoriented and focus on implementing the phase one trade agreement so as to bring about a good start in the sound economic and trade relations going forward. As the Living Standards of the Chinese People rises, we will import finequality Agricultural Products from countries across the world. As the two sides have agreed based on the market demand in china, in line with market terms, chinese businesses will purchase 40 billion u. S. Of Agricultural Products from the United States annually. If the demand is strong, the Companies May buy more. To make it happen, the two governments need to foster a sound marketing environment for businesses to expand trade activities. Ladies and gentlemen, friends, the chinese economy is transitioning from highspeed growth to highquality development. A new philosophy is governing our Development Across the board. Reform and openingup is picking up speed. This year well build a moderately Prosperous Society in all respects. Chinas per capita gdp has exceeded 10,000 u. S. Dollars. A 400 millionstrong middleincome group is emerging, and a massive domestic market is taking shape. China welcomes investors from around the world to china, including those from the United States. And well expand imports of finequality products and services from other countries. China will continue to enhance the legal environment, step up the protection of Property Rights and intellectual property, apply a Management System of preestablishment national treatment, plus the negative list, and create a level playing field. China will open itself even wider. Ladies and gentlemen, friends, [applause] vice premier liu ladies and gentlemen, friends, the world is now at a critical historical crossroads. We are faced with the major strategic choice of how to promote major country cooperation and international cooperation. China has developed a political system and a model of Economic Development that suits its national reality. This doesnt mean china and the United States cannot Work Together. On the contrary, our two countries share enormous common commercial interests, and we are faced with multiple common challenges like terrorism, counternarcotics, widening income gap, an aging population, major diseases, resources, and protecting the environment. There is a real need for closer cooperation. President xi jinping points out that there are a thousand reasons to make chinau. S. Relations succeed and not a single one to let it fail. We must seek Common Ground while putting aside differences and find a path toward winwin cooperation. This has important implications for china, the United States, and the world at large. It has been, and will continue need to be, proved that we both stand to gain from cooperation and lose from confrontation. Cooperation is the only right choice. We need to act in the overall interest of world peace and development and shared future of humanity, pursue equal consultation with Mutual Respect, and take forward chinau. S. Relations based on coordination, cooperation, and stability, and fulfill the great Historic Mission that we shoulder together. While i see many Visionary People here in the audience who have made an important contribution to the sound development of chinau. S. Relations, please accept my most sincere appreciation. [applause] vice premier liu the lunar Chinese New Year is coming soon. I extend seasons greetings to you. I wish you good health and all the success. Again, thank you very much, President Trump, and thank you all. [applause] vice premier liu now id like to invite ambassador cui tiankai to say a few words. Thank you. [applause] President Trump and just prior to signing, well ask ambassador cui to come up and say a few words. Thank you. Yes, please. [applause] ambassador cui honorable President Trump, Vice President pence, secretary mnuchin, ambassador lighthizer, your excellency, vice premier liu he, minister zhong shan, and governor yi gang, ladies and gentlemen, just now, vice premier has given us the comprehensive elaboration on chinas principled positn the chinau. S. Phase one trade agreement. Given the highly complex international environment, reaching a chinau. S. Phase one trade agreement based on equality and Mutual Respect is good for china and the u. S. , and good for the peace and prosperity of the whole world. We hope both sides will abide by and implement the agreement with earnest to keep the chinau. S. Trade relations in the right direction of Mutual Benefit and winwin, and deliver greater benefits to the people of our two countries. Chinas development is a result of the wisdom and hard work of 1. 4 billion Chinese People. And the rights of the Chinese People to pursue a better life is what should be there. There is Great Potential for greater chinau. S. Cooperation, and the defining feature of this Economic Cooperation between our two countries is Mutual Benefit. People of both countries benefit from such cooperation. These facts havent and will not change. The chinau. S. Relationship is now at a crucial juncture. As we have reached the phase one trade agreement, it is now important that we leverage the opportunity earnestly, implement the strategic consensus reached between our two president s, and keep our bilateral relations in the right direction. We need to strengthen Strategic Communication and dialogue on various levels to build trust, reduce misgivings and misunderstandings and misjudgment, and properly manage differences so as to build a chinau. S. Relationship based on coordination, cooperation, and stability. To conclude, i want to take this opportunity to thank you again, friends from all the communities in the United States for your support to the healthy growth of chinau. S. Relations. Lets Work Together in the new year. Thank you. [applause] President Trump well, just in closing and were going to sign right now, but it just doesnt get any bigger than this not only in terms of a deal, but really in terms of what it represents. Keeping these two giant and powerful nations together in harmony is so important for the world not only for us, for the whole world. And the world is watching today. So its a great honor to be involved. Its a great honor, mr. Vice premier, to be with you. Thank you very much. Thank you very much. [applause] [applause] [applause] [applause] [applause] x please remain in your seats until the president has departed. Live coverage of the president of candidates in iowa continues sunday at 4 00 eastern. Amy klobuchar and Elizabeth Warren, Pete Buttigieg and deval patrick. On monday, at 4 30 p. M. Eastern, Elizabeth Warren followed by senator Bernie Sanders at 5 30 p. M. In des moines. Watch our live unfiltered coverage of the president of candidates this weekend on cspan, online at cspan. Org. Senators, i attend the senate in conformity with your notice to join with you for the trial of United States trial of the president of United States. I am not prepared to take the. Oath. Swear yousolemnly will do impartial justice according to the constitution and the laws so help you god . I do. At this time, i will ath to all the o senators in the chamber. The senates impeachment rules. Will all senators now stand and raise the right hand . Swear that iny all things appertaining to the trial of the impeachment of donald john trump, president of United States, now pending, you will do impartial justice according to the constitution and laws so help you god . For the third time in history, a president is on trial in the u. S. Senate. Watch live tuesday when the trial resumes at 1 00 eastern on cspan two. Experts on Artificial Intelligence share their concerns over private sector use of facial recognition technology. They testified before the House Oversight and reform committee. The committee is working on legislation to address the emerging technology. N to address the emerging technology. Good morning, everyone, and is out objection the chair authorized to declare a recess of the committee at any time. Would now like to recognize myself to give an opening statement. Today the committee is holding on a critical ng issue. Facial recognition tech. Its clear that despite the private