Friday, June 28, 2019


Office of the Press Secretary

International Exhibition Center
Osaka, Japan

10:39 A.M. JST

     PRESIDENT TRUMP:  Thank you very much.  It's great to be with Chancellor Merkel, a friend of mine -- a great friend of mine.  And we've had a terrific relationship.

The trade between Germany and the United States, I think, has reached a -- pretty much a high level.  We'll see if we can do even better, but it's reached a level that it's never reached before.

And we have many things to talk about, and we have a long meeting scheduled.  And we'll be spending some time later on together also.  But I just want to say she's a fantastic person, a fantastic woman, and I'm glad to have her as a friend.

And thank you very much, Angela.  Thank you.

     CHANCELLOR MERKEL:  Thank you.

     PRESIDENT TRUMP:  Thank you.

     CHANCELLOR MERKEL:  (As interpreted.)  Thank you.  Thank you very much.  I very much look forward to our exchange today.
We have a lot on our agenda, especially the fact that German investment in the United States is very important.  Not only bilateral trade is important but also German companies are investing a lot in the United States of America.

We're going to talk about international issues, the developments on the international front too, especially about what has been happening in West Africa.  We will be also talking about counterterrorism, and I very much look forward to that exchange.  Of course, Iran will also be on our agenda today.

PRESIDENT TRUMP:  I just passed a television set on the way here, and I saw that healthcare, and maximum healthcare, was given to 100 percent of the illegal immigrants coming into our country, by the Democrats.  And, unfortunately, they didn't discuss what they're giving to American citizens.  That's not a good thing.  So we just passed that, and then I came here.

And I will say that we're going to have a very interesting time today.

You know, they have a debate going on.  They had the first debate last night.  Perhaps you saw it.  It wasn't very exciting -- I can tell you that.  And they have another one going on today.  They definitely have plenty of candidates.  That's about it.

So I look forward to spending time with you rather than watching the debate.

Thank you.

Q    President Trump, do you think Germany is living up to your expectations for them in terms of their defense commitments?   

     THE PRESIDENT:  The Chancellor is a great friend of mine.  She's a great friend of mine.

     Thank you.

                               END                   10:42 A.M. JST


Office of the Press Secretary

International Exhibition Center
Osaka, Japan

9:41 A.M. JST

     PRIME MINISTER MODI:  (As interpreted.)  Mr. President, at the beginning of my second term, I'm really very happy to have this opportunity to meet you.  I would also like to express my gratitude after the huge democracy in India.  The people of India gave us this huge victory -- this landslide victory.

     The people of India have reposed -- have given me a second mandate.  And immediately afterwards, after the victory in the elections, you called me over the telephone and congratulated me.  And, two days ago, Secretary of State Pompeo carried a letter from you, which was a very warm letter.  Also, it expressed the kind of sentiments that you have towards India, your love towards India.  You expressed those issues.  Once again, Mr. President, let me thank you.

     Secretary Pompeo visited India two days ago.  We had an opportunity to have discussions on many issues.  Also, he carried, as I said a short while ago, your warm message.  Given that we have a time limitation, in this meeting we would like to discuss four issues: Iran, 5G, bilateral relations, and defense relations.

     The India-U.S. relations -- we have a vision, which is far-sighted and positive.  And India is committed to taking forward these relations within this far-sighted and positive vision.  We will continuously strive to do so.

Once again, let me thank you, Mr. President, for having taken out time to meet me.  Thank you.

     PRESIDENT TRUMP:  Well, thank you very much, Mr. Prime Minister.  And we've become great friends, and our countries have never been closer.  I can say that with surety.  And we work together in many ways, including military.  But we certainly work together on trade, and we'll be discussing trade today.

     You did indeed have a landslide election.  That was a great election.  Seventy-two percent, as I understand it.  And that, in the United States, would be called a very big victory.  And you deserve it.  You've done a great job pulling everybody together.  You had many factions.

I remember when you first took over, we were talking, and you had many factions and they were fighting with each other.  And now they all get along.  And you just -- you've really brought it together, and I think it's a fantastic tribute to you and your abilities.

     Thank you very much for the relationship and the friendship.  And I think we're going to have a -- some very big things to announce.  A very big trade deal.  We're doing some very big things with India in terms of trade, in terms of manufacturing, in terms of -- we will be discussing 5G.  It's a big subject nowadays, and other things having to do with like manner.

So, it's been a lot of fun being with you.  We've had some good talks already.  And, again, I think you'll be hearing some very productive elements come out.

We had a joint meeting with -- as you know, as the press was there, we had a very successful meeting with Prime Minister Abe.  And we also are going to be announcing some very big trade transactions, some very big trade deals.  They're moving many plants -- auto plants -- into the United States.  And they announced some more this morning, and we're very happy about that.

So, again, I want to thank you, and I want to congratulate you.  And I look forward to talking.  Thank you very much.

PRIME MINISTER MODI:  Thank you.  Thank you.

Q    Mr. President, what is the most important thing for India to do on trade?

PRESIDENT TRUMP:  I think we just -- we'll continue to get along with India.  India is doing very well as a country.  We're doing very well as country.

We have picked up, as you know, many trillions of dollars in worth and value at the United States.  And I think we consider, right now -- we'll be discussing it with Prime Minister Modi -- the hottest -- we're the hottest country in the world, the United States, right now.  And everybody wants a part of it.

A big factor and a big relationship is that of India, and so we're going to be discussing many things.  All very positive.  I think you will see and you will hear it's all very positive.  The relationship with India, as I said, has, I don’t believe, ever been better than it is right now.

Q    What's your message on Huawei, sir?

PRESIDENT TRUMP:  Well, it's something we're going to be talking about.  We understand the subject very well.  We actually sell Huawei many of its parts.  A lot of people don’t know that, but the United States sells.  We have great companies that are the leaders of a lot of what Huawei does, and we sell them a lot.  So we're going to be discussing that and also how India fits in.  We'll be discussing Huawei. 

Q    Mr. President, what will be your message on Iran?


Q    On Iran.

PRESIDENT TRUMP:  Well, it's the same message I've been telling you for the last three days.  It's -- we have a lot of time.  There's no rush.  They can take their time.  There's absolutely no time pressure.  I think that in the end, hopefully, it's going to work out.  If it does, great.  And if doesn’t, you'll be hearing about it.

Thank you.

Q    How long will you delay the census for, Mr. President?  How long will you delay the census for, until we get the citizenship question on?

PRESIDENT TRUMP:  Thank you very much everybody.

                         END                 9:48 A.M. JST


Office of the Press Secretary


“The partnership between our two nations and our two people is deep and enduring. We have been proud to stand by your side for many decades as an unwavering friend and a loyal ally. And you have never had a time where this ally has been more loyal or stood by your side more than right now.”- President Donald J. Trump
A VITAL PARTNERSHIP: Today, President Donald J. Trump is visiting the Republic of Korea (ROK) to reaffirm a vital partnership that is essential to our economic and security interests.
  • The United States and the ROK are key partners that share deep historical, security, and economic ties.
  • Our vital partnership is based on the shared principles of democracy, human rights, and the rule of law.
  • The United States-ROK alliance is the linchpin of peace, security, and prosperity in the Indo-Pacific region.
  • This visit will advance and strengthen economic and security cooperation between our two nations.
WORKING TOWARD THE DENUCLEARIZATION OF NORTH KOREA: President Trump is working closely with President Moon Jae-in of the Republic of Korea to achieve the final and fully verified denuclearization of North Korea and to establish a lasting peace on the Korean Peninsula.
  • The United States and ROK coordination and cooperation regarding the denuclearization of North Korea is the strongest it has ever been.
  • President Moon has been indispensable in assisting with President Trump’s negotiations with North Korean Chairman Kim Jong Un.
  • President Trump has held two historic summits with Chairman Kim, advancing the goal of denuclearization of North Korea.
  • Both President Trump and President Moon have repeatedly called on Chairman Kim to follow through on his commitment to completely denuclearize.
  • President Trump and President Moon want a prosperous and peaceful future for North Korea under Chairman Kim’s continued leadership.
ADVANCING FREE, FAIR, RECIPROCAL TRADE: President Trump is rebalancing United States trade with the ROK and strengthening our commercial ties.
  • In 2018, the United States and the ROK two-way goods and services trade totaled more than $165 billion, including nearly $79 billion in United States exports to Korea.
  • President Trump secured significant improvements to the United States–Korea Free Trade Agreement, doubling the number of America’s automobiles that can be exported to Korea without further modification and expanding exports of the finest American-made products to the ROK per year.
  • Thanks to President Trump, the United States goods trade deficit with the ROK decreased by 23 percent in 2018 over the previous year.
    • United States exports of auto and agricultural products, crude oil, and liquefied natural gas to the ROK increased in 2018.
  • Since 2017, ROK firms’ direct investment into the United States totaled $50.6 billion.
    • ROK investment in the United States is expected to grow by at least $6 billion in 2018, based on recent greenfield projects.


President Donald J. Trump Announces Intent to Nominate Individual to Key Administration Post

Office of the Press Secretary
President Donald J. Trump Announces Intent to Nominate Individual to Key Administration Post

Today, President Donald J. Trump announced his intent to nominate the following individual to a key position in his Administration:
Yuri Kim of Guam, to be Ambassador Extraordinary and Plenipotentiary to the Republic of Albania.
Ms. Kim is a career member of the Senior Foreign Service, class of Counselor, and has served in the Department of State as the Director of the Office of Southern European Affairs.  Previously, she was the Director of the State Department’s Center for the Study of Diplomacy, Chief of Staff to the Deputy Secretary of State, and Director of the Office of European Security and Political-Military Affairs.  She has also served as Special Assistant to the Assistant Secretary of State for East Asian and Pacific Affairs and as a member of the United States delegation to the Six-Party Talks to end North Korea’s nuclear program.  She also served as the Political Counselor at the United States Embassy in Baghdad, Iraq, and then at the United States Embassy in Ankara, Turkey.  Ms. Kim earned a B.A. from the University of Pennsylvania and an M.Phil. from Cambridge University.  She speaks Korean, Chinese (Mandarin), Japanese, and Turkish.



Office of the Press Secretary


“For many decades, an ever-growing maze of regulations, rules, restrictions has cost our country trillions and trillions of dollars, millions of jobs, countless American factories, and devastated many industries.  But all that has changed the day I took the oath of office, and it’s changed rapidly.” – President Donald J. Trump  

HISTORIC DEREGULATORY ACTIONS: President Trump has reduced a historic number of burdensome and unnecessary regulations and stopped the massive growth of new regulations. 

  • The Trump Administration’s deregulatory actions across a vast array of American industries are the most significant in United States history.
    • The President signed 16 pieces of legislation deregulating education, mining retirement accounts, and more.
  • President Trump has slowed the growth of new regulations, adding only four economically significant regulations each year (not counting deregulatory actions).
    • Between 2001 and 2016, the Federal government added an average of 53 economically significant regulations each year.   
  • Prior to President Trump, the norm in Washington was the addition of burdensome regulations that stifled economic growth.
INCREASING INCOME AND SAVINGS: President Trump’s deregulatory agenda is putting more money back in the pockets of American families and workers.
  • The President’s deregulatory actions are estimated to increase annual household income by $3,100.
    • Combined with the President’s historic tax cuts, the average household will receive an increase of more than $6,600 per year.
  • Sixteen pieces of deregulation legislation signed by President Trump are expected to increase annual real incomes by more than $40 billion.
  • The Trump Administration has deregulated the healthcare sector, providing more affordable health insurance for American families and lowering the cost of prescription drugs.
    • Americans will save nearly ten percent on prescription drugs.
    • President Trump eliminated the individual mandate penalty in Obamacare, saving Americans billions of dollars annually.
  • In 2018, the President signed the Economic Growth, Regulatory Relief, and Consumer Protection Act, creating an additional $6 billion in savings to Americans every year.
UNLEASHING AMERICAN BUSINESSES: President Trump’s deregulatory actions have unleashed American businesses and spurred our economic boom.
  • The elimination of unnecessary regulations has lowered costs for businesses and prices for American consumers.
  • Twenty of President Trump’s deregulatory actions alone will save American consumers and businesses approximately $220 billion per year.
  • The removal of crushing government mandates has allowed small businesses to invest and expand instead of wasting time and money on compliance costs.
  • The deregulatory actions of the Trump Administration are increasing competition, productivity, and wages for American workers.


Office of the Press Secretary

Via teleconference

11:03 A.M. EDT

     MS. SLOBODIEN:  Thank you.  Good morning everyone, and thank you for joining today's press call on the latest report from the White House Council of Economic Advisers on the positive impact that the Trump deregulatory efforts have had on our nation's economy.  This call will be on the record and we'll also open it up to questions.

     I'll now turn things over to a member of the Council of Economic Advisers, Tomas Philipson, who will announce the other speakers on the call today.

     MR. PHILIPSON:  Thanks everyone for joining for joining.  This is Tomas Philipson.  I'm one of the members here at CEA.  Today we're going to talk about a report entitled, "Economic Effects of Federal Deregulation Since January 2017: An Interim Report."

     As you probably are well aware, deregulation is the cornerstone of the President's pro-growth economic policies that has been implemented since he took office.  And I view today's report as an extremely important report in that vein, in showing the economic impact of the deregulatory -- those deregulatory actions.

     It contains both new work on the regulations that CEA has not analyzed to date, as well as some discussion of past reports we've issued on deregulatory efforts in the past two years.

     I'm going to turn it over to Casey Mulligan, our Chief Economist, who will go through, sort of, the main contents of the report.  Casey.

     MR. MULLIGAN:  Morning.  Since January 2017, the Trump administration has made a historic effort to reduce costly regulation while protecting workers, and public health, safety, and the environment.

     Deregulation has been a massive effort.  There's been hundreds of deregulatory actions already in this administration.  So we have a challenge: How do you summarize all of that?  It reminds us of the vastness of the Grand Canyon.  How can anyone fully appreciate it when there are so many perspectives?

     But it is possible.  And in a two-year effort here at the CEA, we've utilized the toolboxes, from statistics, from economic theory, and from the economic literatures studying the various industries.

     We sampled the 20 economic regulations that got the most attention from the public, either through Congress or through the comment process.  And then we then did a detailed study of each of those 20 rules and the industries to which they applied.  So what we're going to talk about today is the sum total of those 20.

     CEA estimates that after 5 to 10 years, the new approach to federal regulation will have raised real incomes by $3,100 per household, per year.  Twenty notable federal deregulatory actions alone will be saving American consumers and businesses about $220 billion per year after they go into full effect.

     To put this in perspective, many of the most notable deregulatory efforts in American history, such as the deregulation of airlines and of trucking that began during the Carter administration, did not have such large aggregate effects even when measured as a share of national income, which was, of course, less during the Carter years.  This new approach to regulation under the Trump administration not only reduces or eliminates costly regulations, but it also sharply reduces the rate at which costly new regulations are introduced.

     The ongoing introduction of costly regulations had previously been subtracting an additional 0.2 percent per year from real incomes, thereby giving the false impression that the American economy was fundamentally incapable of anything better than slow growth.  Now, new regulations are budgeted and kept to a minimum.

     The Trump administration’s regulatory approach also significantly reduces consumer prices in a number of markets.  To name a few, we have prescription drugs, health insurance, and telecommunications.  And it also prevents price increases in other markets.

     The Trump administration’s work to reduce healthcare costs means that consumers are already saving almost 10 percent on retail prescription drugs, which results in an increase of $32 billion per year in the purchasing power of the incomes of Americans.

     Consumers are also saving money on Internet access: about $40 per subscriber thanks to the deregulatory actions of Congress and President Trump.  Considering that most households have multiple Internet subscriptions, when applied to both wired and wireless, $40 per subscription becomes $15 billion per year in the aggregate.

     Consumers are also saving money on health insurance, as we analyze in detail in the most recent Economic Report of the President.

     The deregulatory efforts of the Trump administration have also removed mandates from employers, especially smaller businesses, and have removed burdens that would have eliminated many small bank lenders from the marketplace.  These deregulatory actions are raising real incomes by increasing competition, productivity, and wages.

     The benefits of this recent deregulation effort compare favorably with the most significant in American history.  Take the deregulation of airlines and trucking that occurred four decades ago as major parts of a deregulation wave once described as “one of the most important experiments in economic policy of our time."  Combined, the Carter-era deregulation of these two industries are estimated to have provided net aggregate benefits of about 0.5 percent of national income.

     Although no two of the 20 recent actions we looked at have such a large benefit, at least according to our estimates, their combined net benefits expressed to be comparable to those earlier deregulations exceed 0.6 percent of national income.

     Another notable deregulatory historical episode was the series of natural gas deregulation.  But again, those net benefits are also estimated to be less than the net benefits of deregulation since 2017.

     Another interesting thing to see here is that, measured in terms of economic impact, the Trump administration’s work with the 115th Congress was quite prolific.  Sixteen separate pieces of legislation deregulated education, mining, retirement accounts, and more.  These are expected to increase annual real incomes by more than $40 billion.

     And we have the Tax Cuts and Jobs Act, which got in the regulatory arena with the individual mandate penalty.  And setting that to zero saved Americans $28 billion per year.

     The bill about banking, sometimes known as the Crapo bill, which President Trump signed into law in 2018, provides an additional $6 billion in savings to Americans every year.

     And finally, this report also estimates the next benefits of -- the net benefits of deregulatory action.  Some regulatory actions trade private goods for public goods, such as environmental quality.  With public goods and other situations where private markets may fail, it is necessary to carefully consider both the benefits and the costs of regulatory actions to get any net benefits.

     Even if the original regulatory action addressed a private market failure, a deregulatory action is still warranted when the regulatory cost savings outweigh the forgone regulatory benefits.

     GDP and real income capture the value of private goods production, but they don't capture the value of public goods and other important non-pecuniary benefits.  But we considered those additional benefits in this report, and when including them, we estimate that the deregulatory actions have a net benefit of more than $2,500 per household per year, compared with the previous trends of growing regulatory costs.

     Thank you, and we welcome your questions.

     Q    Yeah, hi.  This is Cheryl Bolen with Bloomberg Government.  I am wondering, of the 20 deregulatory actions that you looked at, have those already been completed or do you anticipate completing them in the future?

     MR. MULLIGAN:  Most of those, they are final rules.  Now, part of the rules involve, you know, phasing in different changes and so on.  So it is kind of a yes-and-no answer.  We have a table in the report that shows each rule, and there you could see, you know, some that are final.

     For example, the 16 regulations with the Congressional Review Act, not all 16 are on our sample.  But any of those were finalized right away when the President put his signature on.

     MR. PHILIPSON:  So, this is Tom Philipson.  One area where we have seen deregulatory action is in the healthcare space, already, through guidance at FDA that increased a lot of generic entry into the pharmaceutical industry.  And we have a previous report on that.  And the price reductions induced by that increased competition is actually estimated from what the rule actually did, as opposed to predicted effects of rules going forward.

     Q    So, it's Josh Mitchell at WSJ.  So, two questions.  First of all, when you're talking about these price decreases, like, for example, the subscription -- the wireless subscriptions -- are you saying that like the actual money -- the actual cost is being reduced?  Or is it that it's not increasing as much as it would have been?

     And then, my second question is, are you looking at these 20, you know, deregulations outside of the broader context?  Because I know there are some concerns among businesses that the tariffs, for example, are creating their won types of new regulations and new types of compliance efforts among businesses -- if they have to apply for exemptions, for example, for tariffs.

     So, you know, if you're just taking a look at these 20 rules outside of the broader context, how much can we -- how much stock can we put into this if other types of regulations are going up?

     MR. MULLIGAN:  Thank you for your question, Josh.  On the telecom, if you look at the first chart in the report, it shows the answer is "yes" and "yes" to both your perspectives.  I mean, the price of Internet subscriptions went down sharply when the President put his signature on one of those rules.  And, in fact, it was so sharp that even the Federal Reserve had commented at the time that it might be affecting the overall inflation numbers that they are targeting.  So that's something that really did happen, and it was a sharp break downward.

     Now, you asked about -- I opened by saying: Hey, there's hundreds of regulatory actions and deregulatory actions; how do we select?  We select based on the ones that get the most attention from the public.  By the way, most regulations get zero comments -- exactly zero comments -- from the public.  And that's how we made our selection.  In principle, regulations could have come in there if they were highly commented.  In fact, the top 20, in terms of comments, were not any regulations; they were deregulations.

     And certainly, as a matter of arithmetic, there are regulations that didn’t make our sample.  There are also deregulations that didn’t make our sample.  And we do report in the paper, OIRA -- the OMB Office of OIRA has some estimates of the sum total of the regulations that we didn’t look at it.  They're not using the detailed methodology that we did.  And the sign of that effect is: On the whole, it's deregulation in the stuff that we left out -- I mean, saving consumers, saving businesses on the whole.  Not necessarily rule by rule.

     Q    Hello, this is (inaudible) with WATV TV.  You stated that, with the 115th Congress, you had 16 separate legislations that was able to work together.  What about the 116th Congress?  Is this moving at all?

     MR. MULLIGAN:  The 116th Congress did not have any regulatory statutes that made our sample.

     Q    Hi, yeah, it's Alan Rappeport from the New York Times.  Thanks for doing this.  I just wanted to see if you could talk a little bit more about comparing the savings from the deregulatory efforts to the increased cost that CEA has found from the tariffs or the impact of the trade wars.

     MR. MULLIGAN:  We have our deregulation team here on this call.  We don’t have the trade people here to discuss that.  But thank you for your question.

     MS. SLOBODIEN:  Thank you.
                               END                 11:19 A.M. EDT


West Wing Reads President Trump Pursues Smart China Strategy Heading Into Meeting With Xi Jinping

West Wing Reads

President Trump Pursues Smart China Strategy Heading Into Meeting With Xi Jinping

“At President Trump’s planned meeting Saturday with Chinese President Xi Jinping at the G20 Summit in Japan, Trump is expected to continue to advance a strategy that his administration introduced in his first six months in office: viewing China as a strategic competitor to the United States and its allies,” writes Dr. Nadia Schadlow, Senior Fellow at the Hudson Institute, in Fox News.

“This shift from an enabling posture to a competitive strategy was a response to years of Chinese Communist Party efforts to shape the international system in a way that disadvantaged the United States on trade and advanced China’s authoritarian system.”

President Trump has two goals for that approach, Schadlow says. The first is fixing economic relationships so that America is never giving a strategic advantage to an adversary. The second is tilting the global balance of power toward free, open societies.

Click here to read more.
“Congress on Thursday approved $4.6 billion in emergency aid to deal with the border crisis, giving President Trump a symbolic victory on immigration and money to improve conditions for migrant children and families crowding the border,” Stephen Dinan and Gabriella Muñoz report in The Washington Times. President Trump “asked for the money nearly two months ago, but Democrats blocked it from being included in a disaster spending bill this month. Democrats also blocked 18 other Republican attempts to force the bill onto the floor.”
“The Tax Cuts and Jobs Act was one of the most comprehensive tax overhauls ever enacted,” Bruce Thompson writes in the Washington Examiner. “Yet as far as the media is concerned, the bill only slashed taxes for corporations and the wealthy . . . This characterization of the bill is false and misleading, yet it is an assertion endlessly reported by reporters and pundits in the national media, as well as Democrats.”
“Americans hate to wait. We scout out the shortest grocery line. We choose the fastest delivery option. We chafe at slow-moving internet speeds. And we don’t like to wait for health care when we or our loved ones urgently need it,” Steven Law writes in Fox News. “Why do government-run health care systems—including so-called single-payer schemes like Medicare-for-All—result in long waits for needed care? Because unlike the private sector, government has zero incentive to customize care to individual needs. It achieves efficiencies primarily by doling out one-size-fits-all health care to everyone, regardless of unique circumstances.”
“On behalf of doctors across America and their patients, I am writing to underscore the importance of the executive order President Trump signed this week on ‘Improving Price and Quality Transparency in Healthcare.’ Everyone will benefit from this, save for those who profit from keeping Americans in the dark,” writes Marni Jameson Carey, Executive Director of the Association of Independent Doctors, in the Washington Examiner.


Office of the Press Secretary

International Exhibition Center
Osaka, Japan

3:31 P.M. JST

PRESIDENT TRUMP:  Thank you very much everybody.  We’re with a gentleman who had one of the greatest election wins anywhere in the world, as far as I’m concerned, and he was very proud of his relationship with President Trump -- President of Brazil.  And he’s a special man -- doing very well, very much loved by the people of Brazil.  And I think we can say that Brazil and the United States are as close or closer as they’ve ever been.  So I just want to welcome you and say thank you very much, my friend.

     PRESIDENT BOLSONARO:  (As interpreted.)  Yes, indeed.  Thank you very much.  It gives me great pleasure to be next to you, Mr. President.  I have been a great admirer of you for quite some time, even before your election, and it gives me great honor to be with you.

The two countries we represent have a great deal in common.  We’re two major countries -- great countries -- and, together, can do a great deal to the benefit of our two peoples.  Brazil is endowed with assets that the world does not have, and I will be able to engage in talks with President Trump to establish a full partnership to the (inaudible) development of our nations.

     I support Trump.  I support the United States.  I support your upcoming reelection.  And I do hope that you will come to Brazil, and you have an open and standing invitation to visit Brazil, even before the upcoming election, so that we can showcase to the world that politics in Brazil has indeed changed.  And we stand together and ready to work close (inaudible).

     PRESIDENT TRUMP:  Well, thank you very much, Mr. President.  And we will come to Brazil.  And you do have assets that very few countries can even think about -- the assets you have in your land and in your water and in so many other places.  You have some of the great assets in the world.  And it’s a tremendous country with tremendous people, so I look forward to going.

And we’re now talking about a lot of trade.  We’re doing a lot of trade, but we’re doing more now than previously, and we have many things to discuss.  Thank you all for being here.  Thank you very much.

     Q    President Trump, are you going to ask Brazil to take sides on the trade war with China?

     AIDE:  Excuse me.  Translation -- translation for the President.

     (The interpreter for President Bolsonaro speaks.)

     PRESIDENT TRUMP:  Thank you very much everybody.

     Q    Are you going to ask Brazil to take sides in the trade war with China, President?

     PRESIDENT TRUMP:  Well, we’re going to have a meeting with President Xi of China tomorrow, as you probably have heard.  There seems to be a rumor about that, and we are indeed, and we look forward to it.  I think it’ll be productive.  And who knows?  But I think it’ll productive.  At a minimum, it will be productive.  We’ll see what happens and what comes out of it.

But we’re doing very well as a country.  The United States is the hottest country in the world right now and -- the economy.  And all of the leaders have come up and said that it’s incredible what’s happened with the United States.  And they congratulate me and they congratulate the people of the United States.

But we are -- we’re a hot country.  We’re doing well.  So we’ll see what happens tomorrow with China.

     Q    But how Brazil can help on that?  How Brazil can help on that?

     PRESIDENT TRUMP:  Help on what?

     Q    Help on the trade war with China?

     PRESIDENT TRUMP:  Not a question of “help”; it’s a question of whether or not we do something.  And I think we have a very good chance.  We’ll see what happens.  Ultimately, something will happen, and it’ll only be good -- good things happen.

     Q    Mr. President, do you expect that President Xi is going to put an offer on the table tomorrow for a trade deal?

     PRESIDENT TRUMP:  We’ll see what happens.  You’re going to know, maybe, before most.  We’ll see what happens tomorrow.  It’ll be a -- it’ll be a very exciting day, I’m sure, for a lot people, including the world.  It’ll be an exciting day.  A lot of people are talking about it, and it’s very interesting.  And it’s going to come out, hopefully, well for both countries.  And ultimately, it will work out.

     Q    Have you promised China that you won’t put anymore new tariffs on for another six months?

     PRESIDENT TRUMP:  No, I haven’t promised.  No.  Good question.  No.

     Q    Mr. President, have you discussed Venezuela with President Putin?  And do you intend to discuss it in this meeting?

     PRESIDENT TRUMP:  I discussed -- well, we discussed a lot of things with President Putin.  We had a very good meeting with President Putin.  And we’ll have to see what happens with Venezuela.  Venezuela is a -- we’re behind the free Venezuela 100 percent.  We’ll see what happens.

     Q    So did you lose momentum on Venezuela, President Trump?

     PRESIDENT TRUMP:  No, not at all.  No.  No.  Things take time.  But we’re behind a certain group of people; you know who the people are.  We’re behind the people of Venezuela -- that’s who we’re really behind, more than anything else.  And we’ve been helping them a lot.  We’ve been bringing a lot of food and a lot of medical and a lot of other things to Venezuela.

And we’re working with Colombia very closely -- with Colombia -- to help.  Because, really, it’s a humanitarian crisis.  That just shows what socialism can do.

     You know, I’ve been watching the debates a little bit, in between meetings, and I wasn’t impressed.  But when you look at the socialism and you look at what it can do -- that’s what you’re talking about there.  And that’s become like the Socialist Party.  In fact, I heard -- there’s a rumor the Democrats are going to change the name of the party from the “Democrat Party” to the “Socialist Party.”  I’m hearing that.  But let’s see if they do it.

     Okay?  Thank you all very much.

                              END                 3:39 P.M. JST


Office of the Press Secretary

International Exhibition Center
Osaka, Japan

2:14 P.M. JST

     SENIOR ADMINISTRATION OFFICIAL:  Well, hello, everyone.  So we just came from the first session.  There are four sessions, obviously, for the G20 that Japan has put together.  It was on growth, investment, and trade.

Prime Minister Abe started off by sharing his vision of all of the countries around the table working collaboratively together to address a number of modern challenges, including digital trade, which is a big priority of his, as well as the new types of economic activity that we don't currently have trade rules for.

     He then introduced Christine Lagarde, who, by tradition, gave the first intervention about the state of the world economy from the perspective of the IMF and the types of challenges that the G20 economies really need to take seriously.

     And then, President Trump was the first world leader to give an intervention.  And he very much focused on his pro-jobs, pro-growth agenda, which involves, obviously, ambitious tax reform, deregulation, creating a positive investment environment, and energy dominance.

He also encouraged economies to work together to address modern challenges to level the playing field for American workers and businesses, and emphasized that all countries could benefit from pro-growth, pro-job policies, and that America wants to see everybody grow.

Then, it turned to President Xi, who gave an intervention mostly discussing China's vision of the world's economy moving forward.  Also highlighted "One Belt, One Road."

And then, a number of other world leaders intervened, including President Macron -- I am so tired, so I forgetting everyone in order, but I can get you a list -- and also gave their visions of the types of challenges that we need to be forward-looking about.

And there was a good sense of unity in the room in terms of wanting to work together, which I think is the most positive thing to come out of this session is that everyone recognizes the old playbook doesn’t work and that we really need to focus on what's new.

WTO reform was highlighted, which I think is a big advancement in the G20 from last year.

Q    Highlighted by whom?

SENIOR ADMINISTRATION OFFICIAL:  By -- every world leader came out in support of wanting to reform the WTO, which was the mandate that we had in Buenos Aires last year.  So there's a big deal of enthusiasm for that and something the U.S. has been pushing for well over a decade.  And so, we're glad to see that, finally, countries are taking that seriously.

Q    Every world leader except for Russia?

SENIOR ADMINISTRATION OFFICIAL:  I don’t recall if Russia raised that or not.  But it was very much the sentiment in the room.  DG Azevêdo also spoke as well about the various reform efforts that are happening right now, highlighting those related to the monitoring function, the negotiating function, and the dispute settlement function, and very much encouraged the world leaders to continue their efforts.

Q    Did any of the leaders address President Trump about his tariffs -- any of the tariffs -- and the impact that's having on the economy, and some of these issues that you've talked about?

SENIOR ADMINISTRATION OFFICIAL:  Sure.  I don’t recall any direct reference to that.  I think the tone was largely positive by the various world leaders.  China was less positive in its outlook, which was in stark contrast to basically everybody else.  It was more of a collaborative exercise where everyone does acknowledge that the old rules just don’t work and we really need new tools.  And so there was just a desire for everyone to work together.

And Japan, at the very beginning, strongly emphasized consensus and wanted to set the tone as a very positive one for folks to really talk about issues that we could work together on.

Q    Do you remember anything in particular that made you think that China was less positive?  What made you think that?  Do you remember any words that they shared?  Or --

SENIOR ADMINISTRATION OFFICIAL:  They used the word "unilateralism."  It was just a more negative tone, to be honest.  I don’t remember the specific phrases that were used, but --

Q    Xi Jinping?


Q    Okay.

Q    Let me ask -- at what point did the President leave the session?

SENIOR ADMINISTRATION OFFICIAL:  About five minutes before it ended.  So he stayed for the duration of it.

Q    (Inaudible) who was in the session with the President?

SENIOR ADMINISTRATION OFFICIAL:  Sure.  So it was Kelly Ann Shaw, Ambassador Lighthizer, and Secretary Mnuchin, for the United States.

Q    On other issues that have come up in the bilats -- the President was previewing a number of trade agreements, potentially with Prime Minister Modi.  Do you have announcements on when we should be expecting that?

SENIOR ADMINISTRATION OFFICIAL:  I don’t have any additional information on trade agreements.  He's said he's very interested in pursuing bilateral agreements with many countries around the world and really tackling it.

Q    He said the announcement was coming very soon.

SENIOR ADMINISTRATION OFFICIAL:  Let's keep this focused on the session.  Unless there's anything else --

Q    Was there anything with climate change?

SENIOR ADMINISTRATION OFFICIAL:  The issue came up around the room.

Q    Did we have anything to say about it?

SENIOR ADMINISTRATION OFFICIAL:  Well, as I said, the President was one of the very first speakers in the room and really highlighted his broad vision for how other countries can really grow in the same manner that the United States has.  So that was really the topic that was addressed.

But there are a variety of other sessions that are happening throughout the next day and a half where various topics will certainly come up.

Q    (Inaudible) Huawei and 5G?  Or was that not in this infrastructure?  Is that not -- was that not part of that?

SENIOR ADMINISTRATION OFFICIAL:  That was not -- that was not part of the topic that was covered.

Q    Maybe you can float about -- touch on what's next in the coming session.

SENIOR ADMINISTRATION OFFICIAL:  Yeah, well I do have to leave shortly because I'm going to the Digital Economy session where issues like AI will be covered.

Tomorrow there is a session where issues related to Women's Economic Empowerment and Workforce Development will be highlighted, as well energy and the environment.

Q    Great.  Thank you.


                         END                 2:22 P.M. JST



Office of the Press Secretary

International Exhibition Center
Osaka, Japan

2:02 P.M. JST

     PRESIDENT TRUMP:  Thank you very much everybody.  It's a great honor to be with President Putin, his representatives, my representatives.

We have many things to discuss, including trade, and including some disarmament and some -- a little protectionism, perhaps, in a very positive way.  And we're going to discuss a lot of different things.

We've had great meetings.  We have had a very, very good relationship.  And we look forward to spending some pretty good time together.  A lot of very positive things going to come out of the relationship.

     So, Vladimir, thank you very much.  Thank you.

     PRESIDENT PUTIN:  Thank you, Mr. President.

(As interpreted.)  Well, I cannot but agree with Mr. President.  We have something to discuss here.  All the topics have been outlined.  We haven’t seen each other since Helsinki meeting, although our teams have been together working and they gave us a great opportunity to follow up on that.

Thank you very much, both teams, for that.  Thank you for your time.

     PRESIDENT TRUMP:  Thank you very much.  Thank you.

     Q    Mr. President, will you tell Russia not to meddle in the 2020 election?

     PRESIDENT TRUMP:  Yes, of course, I will.

Don't meddle in the election, President.  Don't meddle in the election.

     Q    Mr. President, are the Ukrainian ships still an issue in the relationship?

     PRESIDENT TRUMP:  We haven’t discussed it.  We haven’t discussed it.

                                        END                 2:06 P.M. JST


Office of the Press Secretary


International Exhibition Center
Osaka, Japan

12:19 P.M. JST

     PRESIDENT TRUMP:  Well, thank you very much, Prime Minister Abe.  It's an honor to join you and so many distinguished world leaders for this Special Session on the Digital Economy.

American success in the digital economy is based on free flow of data, strong privacy and intellectual property protection, access to capital, and innovation.  The United States is committed to sustaining this approach to digital trade long into the future.

We're eager to work with like-minded partners around the world to advance these priorities.  The digital economy is a crucial driver of economic growth.

At the same time, as we expand digital trade, we must also ensure the resilience and security of our 5G networks.  This is essential to our shared safety and prosperity.

Further, the United States opposes data localization and policies, which have been used to restrict digital trade flows and violate privacy and intellectual property protections.

The United States seeks a future of digital trade that empowers all of our people.  We look forward to working with other G20 members to advance an open, fair, and market-based digital economy that provides for the free flow of data and brings new prosperity to all of our nations.

Thank you very much.

                          END            12:20 P.M. JST