ICYMI: My White House Press Conference on America’s Manufacturing Renaissance

[0:03] Welcome back, everyone. Terrence Bates here. I want to take you to Peter Navarro, who is speaking right now about the golden age of American U.S. manufacturing. Here he is at the podium. Let's listen. [0:13] What is this story about? I'm the director, Peter Navarro. I'm the director of the Office of Trade and Manufacturing. And what I'm going to do is celebrate what is an incredible American manufacturing renaissance. I'm going to lay that all out for you. [0:31] So the first thing I'm going to do is kind of give you the top line. If you look at this chart here, we got over 500 projects announced since Donald Trump took office. It's close to $400 billion across 43 states, 164,000 direct jobs. [0:55] And then when you have what's called the multiplier, it's two or three or four times that. I'm going to show you, talk about how you see the red arrow there, how over the last eight months, manufacturing has been trending up after incredible decline during the Biden regime. [1:16] And then I'm just going to walk you through kind of what these projects are, foreign versus domestic, what that means, how this all came about. [1:26] Greenfield, brownfield, greenfields are like the new brand new ones. Brownfield are the ones where you take the rust belt and you go into old factories and you make them new again, which is kind of cool. [1:38] This is kind of interesting. Most of the projects are clustered in red states. [1:48] We at the White House have nothing whatsoever to do with that. It's a function of the regulatory regimes in the blue states. [1:57] But I'll talk more a little bit about that. And then what we have is nine different sectors where these are dispersed over. [2:10] And it's a combination of things we need for economic prosperity, but importantly, also national security. [2:17] So let's get on with the show. [2:21] What I'm going to do is deliver remarks that go about eight to nine minutes, and then I'll take any questions you have. [2:29] OK, so America is in the midst of a manufacturing renaissance. [2:36] It's unprecedented in its speed, and it's driven by two things this administration does with laser focus tariffs and tax cuts for American manufacturing. [2:49] The one big, beautiful bill lets a company expense 100 percent of the cost of building a factory on American soil, [2:56] not depreciated over 39 years, expense it right off the bat. [3:01] The year you pour the concrete is the year you write it off. [3:05] If you're a chief financial officer deciding where quite literally in the world to put your next plant, [3:13] that one provision alone in the tax bill changes the bat. [3:16] Now, the trade side, the Trump tariffs are a protective wall in the very best sense of the word. [3:24] They protect American workers and factories on American soil. [3:28] And President Trump has said it over and over in plain language. [3:32] If you are a foreign company and you want to avoid the Trump tariffs, all you have to do is build here, invest here, hire here. [3:42] And that is exactly what's happening. [3:46] You can see it first in the macro data. [3:49] You can see it also in the micro data. [3:51] And you can see it from the highways all across flyover country because the cranes are up. [3:58] So let's start with the macro picture. [4:01] During the final two years of the Biden regime, America lost a staggering 230,000 manufacturing jobs. [4:10] But now under the Trump tariffs and tax cuts, the trend is turning sharply. [4:16] Since December of 2025, American manufacturers have added 72,000 jobs with factory payrolls increasing in each of the last four months through September. [4:29] And this job growth is reflected in the monthly ISM index. [4:33] That's the one up here on the wall. [4:35] It's one of the oldest and most closely watched gauges of the factory sector. [4:39] Throughout most of 2023 and 2024, when Biden was in the White House, the ISM index languished below 50. [4:49] It's a zero to 100 index. [4:51] The dividing line is 50 between an expanding and a contracting manufacturing sector. [4:57] And in January of this year, the ISM index climbed back above 50, where it has stayed for nine straight months. [5:06] New orders are expanding. [5:08] Production is expanding. [5:10] Factory hiring is expanding. [5:13] And here's another number my friends in the media should be paying a lot more attention to. [5:19] Construction employment has increased by 109,000 jobs over the last 12 months, including another 11,000 in September alone. [5:29] Why does that matter? [5:31] Because before you can produce in a factory, you have to build a factory. [5:35] Before the first automobile rolls off the assembly line, somebody has to pour the concrete, raise up the steel, install the machine tools, wire the electrical systems, connect the plant to America's roads, railroads, and power grid. [5:52] And when you look inside the construction job numbers, the growth is in non-residential specialty trades. [5:59] It's the electricians, the steel erectors, the pipe fitters. [6:04] That's factory construction. [6:06] It's quite distinct from housing construction. [6:10] All right, let's go to the micro side of the day. [6:12] That was macro. [6:13] We'll go to the micro side now. [6:14] This is where the macro story really begins. [6:18] So here's a let me get this up here. [6:23] Here's a preliminary look at the announced factory investments since President Trump took office on January 20th, 25. [6:32] And it's a preliminary one. [6:34] There will be more, plenty more. [6:36] The totals reveal an extraordinary industrial transformation. [6:40] We've got more than $380 billion in announced investment, over 500 manufacturing projects across nine major sectors, more than 160,000 direct manufacturing jobs. [6:56] And that's before you count the hundreds of thousands of additional jobs these projects will generate through well-known, what we call in economics, multiplier effects. [7:06] In construction, suppliers, logistics, transportation, local community services. [7:13] And of these more than 500 projects, 63 projects are big. [7:18] They're worth at least a billion dollars each. [7:21] But, this is important, the median project is smaller, roughly 90 million. [7:27] And what that tells us is something important. [7:30] This manufacturing renaissance is not simply a few giant semiconductor factories making the numbers look good. [7:38] It includes hundreds of smaller factories and industrial expansions spread across the country. [7:46] And here is perhaps the most revealing fact in the entire inventory. [7:50] Nearly two-thirds of the projects are backed by foreign-owned companies. [7:55] You can see that in these charts here. [7:58] The yellow are the foreign, the red are domestic. [8:01] And think about what this means. [8:03] For decades, American manufacturers faced powerful incentives to move their factories and supplies offshore. [8:11] They were drawn by the siren song, you know the song, cheap foreign labor, lax environmental regulations, and in the case of China, massive, unfair foreign government subsidies. [8:22] These so-called American companies would then ship their foreign-made products back into the American market. [8:30] President Trump has turned that equation upside down. [8:34] Now, the tariff and tax incentives are moving production back onshore, back into the United States. [8:41] Not only are our American companies coming home, foreign companies are responding in a big way. [8:49] Taiwanese companies are investing in semiconductors in the U.S. [8:53] Japanese companies are expanding automobile and machine reproduction in America. [8:59] Korean companies, steel, critical minerals, shipbuilding from the Atlantic to the Pacific coast. [9:06] German firms are building more industrial equipment and automobiles here. [9:11] And British companies are investing nearly $13 billion in 35 American manufacturing projects, [9:18] from pharmaceuticals in Virginia to aerospace production in New England. [9:23] The wave of new foreign and domestic investment in American manufacturing is also taking two distinct forms. [9:32] Almost half are the greenfield investments, the new factories on new sites, new industrial capacity built from scratch. [9:41] The others are so-called brownfield projects. [9:44] They involve expanding, modernizing, or renewing manufacturing facilities that already exist. [9:52] These brownfield projects are especially important in the Midwest, you know, the Rust Belt, [9:57] and Northeast, where roughly two of every three projects involve existing industrial sites. [10:04] An old factory gets new machinery. [10:07] An aging production line gets modernized. [10:09] A shuttered industrial site gets another chance. [10:13] This is both industrial expansion and industrial renewal. [10:19] All right, let's go through now what exactly America is building again. [10:23] Let's start with chips, semiconductors. [10:25] The tiny chips that power everything from smartphones and superintelligence to fighter jets, advanced missiles, and autonomous weapons, the drones. [10:35] The investment inventory identifies 18 projects in the semiconductor supply chain, representing nearly $160 billion. [10:46] TSMC, that's Taiwan Semiconductor Manufacturing Company. [10:51] It's the big kahuna. [10:52] It's got $100 billion in additional investment in Phoenix, Arizona, including advanced chip fabrication facilities, packaging plants, and research capabilities. [11:03] Amcor Technology, $5 billion to advanced semiconductor packaging and testing, also in Arizona, Peoria to be exact, northwest of Phoenix. [11:15] In Boise, Idaho, Micron is investing $25 billion in advanced membrane chip production. [11:22] In Grimes County, Texas, SpaceX, and Tesla, another $16.8 billion in the TerraFab project. [11:32] And in Sherman, Texas, as well as St. Peter's, Missouri, Taiwan's Global Wafers is investing $4 billion in advanced silicon wafer production. [11:42] And Global Foundries, Eastwise, is expanding chip making in both Malta, New York, north of Albany, and Essex Junction, Vermont. [11:54] These investments matter because the country that controls the technologies underlying superintelligence, advanced computing, telecommunications, and modern weapons systems holds an enormous economic and national security advantage. [12:10] As we say here in Trumpland, economic security is national security. [12:16] And America can ill afford to outsource our chip future. [12:22] The same can be said for pharmaceuticals. [12:27] After the pandemic exposed the dangers of depending on fragile foreign supply chains for essential medical products, [12:36] and I was right here when we were threatened by China on this, by the way, [12:40] we should all understand why this matters. [12:42] A nation that cannot make its own medicines is a nation that has surrendered part of its sovereignty. [12:50] China is weaponizing things like pharmaceuticals and its supply chains, threatening the United States. [12:57] We must bring this industry home. [13:00] And for pharmaceuticals, the investment numbers are very encouraging, although much more needs to be done and will be done. [13:09] To date, we have 64 new Trump-inspired projects, representing $63 billion in announced investment. [13:18] Eli Lilly alone has announced major facilities, including $6.5 billion in Houston, $6 billion in Huntsville, Alabama, [13:26] and $5 billion in Goochland County, Virginia, AstraZeneca, $4.5 billion in Albemarle County, Virginia, near Charlottesville, [13:37] Merck, $3 billion in Elkton, Virginia, Novartis, out there in California, [13:46] Roche, manufacturing capacity in Oregon, Bristol-Myers Squibb, $2.3 billion in Houston, Texas. [13:53] All right, let's go to automobiles, sector by sector. [13:57] General Motors, Ford, Stellantis, Toyota, Mercedes-Benz, Hyundai, and other automakers are committing billions, billions to American production. [14:09] GM has announced $4 billion in investments across just three plants in Orion Township, Michigan, Kansas City, Kansas, and Spring Hill, Tennessee. [14:20] Ford is investing nearly $2 billion in its assembly plant in Louisville, Kentucky. [14:26] Mercedes-Benz is committing $4 billion to its manufacturing complex in Vance, Alabama, near Tuscaloosa. [14:35] Meanwhile, Hyundai Steel is investing $5.8 billion in a massive new steel mill in Donaldsonville, Louisiana, along the Mississippi River. [14:45] Hey, notice, you've never been to any of these places, but this is America. [14:49] A lot of this is flyover country. [14:53] This is the industrial supply chain being rebuilt link by link, steel made in America, parts stamped in America, vehicles assembled in America. [15:03] And behind all these big-name projects are hundreds of investments in machinery, appliances, electronics, transformers, switchgear, electrical distribution equipment, chemicals, and advanced materials. [15:18] All right, let's look at the rest of the best. [15:22] As for some of the remaining sectors benefiting from the Trump manufacturing renaissance, our inventory of announced projects identifies 104 projects in metals, minerals, and materials. [15:36] 71 in energy and grid equipment, 80 in food and consumer goods, and 53 in machinery and appliances. [15:46] This is what manufacturing renaissance looks like. [15:50] Not one industry, not one region, not one company. [15:54] An entire industrial ecosystem coming back to life. [15:59] Let me turn to what may be the most important part of the story, national security. [16:06] For too long, American leaders treated manufacturing as a little more than a question of profits, prices, and quarterly earnings. [16:15] But they ignored a fundamental truth. [16:18] You cannot be a military superpower if you are industrial dependent. [16:24] You cannot build a modern Navy without shipyards. [16:27] You cannot build fighter jets without advanced electronics. [16:30] You cannot build missiles without motors, metals, and critical minerals. [16:35] And you cannot sustain a major conflict if the supply chains that support your defense industrial base run through hostile or unreliable foreign countries. [16:46] President Trump's manufacturing renaissance is beginning to address these vulnerabilities. [16:52] Consider shipbuilding. [16:53] South Korea's Hanwha has announced a $5 billion investment in the Philly shipyard, bringing capital and shipbuilding capabilities to one of America's historic maritime industrial centers. [17:07] And by the way, that shipyard, I'm going to brag a little bit. [17:11] That thing wouldn't exist if it weren't for me and Donald Trump. [17:14] Because in 2017, when that shipyard was down to 100 employees, the president said, Navarro, go fix that. [17:23] And through the Department of Commerce, the Coast Guard, and a lot of other agencies, we got that back up to 1,000 employees. [17:32] And that thing is humming now. [17:34] And that's what Donald Trump does. [17:36] Moving on, Anduril Industries, $3.7 billion in an advanced shipbuilding operation at Sparrows Point, Maryland, with plans involving submarine components and modern manufacturing technology. [17:52] Cerronic, investing $3.2 billion in a next-generation autonomous vessel shipyard in Brownsville, Texas. [18:00] These investments address one of America's most serious industrial vulnerabilities, the erosion of domestic shipbuilding capacity. [18:10] All right, let's look a little more at the defense supply chain. [18:14] In Cherokee, Alabama, northwest of Birmingham, Hadrian is investing $1.5 billion in automated manufacturing capabilities for submarine components. [18:25] In Arkansas, Hanwha Defense USA, $2.2 billion in Pine Bluff, while Lockheed Martin is expanding munitions production in Camden, Arkansas. [18:37] These are not simply new buildings. [18:40] They're investments in the industrial capacity required to equip and sustain the United States Armed Forces. [18:48] What about critical minerals and magnets? [18:51] Rare-earth magnets. [18:52] China, communist China, has opened a new and dangerous front in its economic warfare against the United States by weaponizing this sector. [19:01] It started doing that last year. [19:04] We are fighting back the best way we know how, with investment in innovative new technologies. [19:11] MP Materials is developing additional American rare-earth magnet manufacturing capacity in Texas, using oxides from its mine in California. [19:21] In Marion, Indiana, just this great small company, Re-Elements, is building a major rare-earth and critical mineral refining facility with this incredible new technology to help break America's dependence on China for materials essential to our defense industrial base. [19:41] South Korea's Korea, South Korea, has announced the $7.4 billion project in Clarksville, Tennessee. [19:52] These investments matter because critical minerals and rare-earth magnets are essential to electric motors, aerospace systems, precision weapons, telecommunications, advanced manufacturing, oh, and by the way, those phones sitting on your laps. [20:07] The U.S. should never be at the mercy of a foreign choke point for the basic materials that power its economy or defend its people. [20:16] Here again, communist China is the primary threat. [20:20] Nuclear power. [20:22] Even nuclear technology is part of this renaissance. [20:26] In Oak Ridge, Tennessee, Oak Low is investing $1.7 billion in nuclear fuel recycling capabilities. [20:34] LAIS Technologies is investing nearly $1.4 billion in advanced uranium enrichment technology. [20:43] These are precisely the kinds of sophisticated industrial capabilities that a serious national security strategy must support. [20:52] And taken together, they tell us something profound. [20:54] A semiconductor factory in Arizona, a steel mill in Louisiana, a shipyard in Philadelphia, a critical minerals facility in Tennessee, and a defense manufacturing plant in Alabama may look like different businesses. [21:10] But strategically, they are part of the same mission. [21:14] Rebuilding American industrial independence. [21:18] Restoring the capacity to make what we need when we need it on American soil. [21:23] All right, let's talk a little bit about the politics of this whole thing. [21:31] And this is the final dimension of this manufacturing renaissance. [21:35] It's pretty interesting, and I ran the numbers on this. [21:39] The question is, where are these factors going across the 50 American states? [21:43] And here, the investment inventory reveals a very striking geographic pattern. [21:47] Using a measure of political control that considers who controls the governor's seat, the state legislatures, the Senate seats, and the congressional delegations, [21:59] 368 of the 522 manufacturing projects are located in 26 Republican-leading red states. [22:09] That's more than 70 percent of all projects. [22:11] These 26 red states account for $208 billion in announced investment and more than 125,000 announced direct jobs. [22:22] By comparison, the 18 blue states account for just 90 projects and $44 billion. [22:29] Six politically mixed purple states account for the remaining 64 projects and $132 billion. [22:37] But that calculus in and of itself is heavily influenced by TSMC's enormous investment in Arizona. [22:47] As for the project leaders, it starts with Texas. [22:49] No surprise, 60 projects. [22:52] South Carolina and Ohio, red country, 36 projects apiece. [22:58] Alabama, 28. [23:00] Georgia and Indiana, 20 each. [23:03] The geographic concentration is unmistakable. [23:06] Texas, the Carolinas, the Southeast, the Ohio Valley, the industrial heartland. [23:14] Now, let me make one thing absolutely clear. [23:17] We at the White House do not steer any of this. [23:20] We do not steer manufacturing projects to Republican states full stop. [23:24] We do not tell companies where to build their factories. [23:27] We do not pick Republican states over Democratic states. [23:31] Those are decisions made by the companies themselves. [23:34] And how do they do that? [23:35] They examine the tax climate. [23:38] They examine the regulatory burden. [23:40] They examine energy costs, the availability of skilled workers, permitting requirements, infrastructure, land prices, and the cost of simply doing business. [23:50] And then they decide where to put their money. [23:54] Economists have a useful concept for this. [23:57] It's called revealed preferences, revealed company preferences in this case. [24:00] And the investment decisions being made today reveal a powerful preference for states offering competitive conditions for industrial investment. [24:11] All we do here in Washington is provide the national framework, competitive tax policy, strong trade enforcement, tariff protection for American production. [24:22] What state governments provide is the local environment in which investment either flourishes or withers. [24:29] States, are you paying attention, California? [24:32] States that want these factories should learn from the decisions the companies themselves are making. [24:38] Lower the barriers. [24:40] Speed the permits. [24:41] Provide reliable energy. [24:43] Build the infrastructure. [24:44] Train the workforce. [24:46] That is the red state way. [24:48] Protect the American market. [24:50] Reward production on American soil. [24:53] Let companies compete to serve the world's greatest consumer economy. [24:58] And let American workers share in the prosperity. [25:01] That is the Trump way. [25:06] For decades, we the people here of America have been told that the decline of domestic manufacturing was inevitable. [25:14] And the American media has played right along. [25:17] Trump, your job today is to report this story of America's manufacturing renaissance. [25:24] Not bury it on the back page where good Trump news too often dies, but right on the front pages for all America to see. [25:33] Are you listening, Washington Post? [25:34] Are you listening, New York Times? [25:36] Are you listening, USA Today? [25:39] Are you listening, The Today Show? [25:42] CNN, MS Now, oh, and by the way, Fox News, which is not here today. [25:47] The United States has workers. [25:50] We have engineers. [25:52] We have the entrepreneurs. [25:54] We have the capital. [25:55] We have the technology. [25:56] What we have lacked has been a national policy willing to use those advantages to defend American manufacturing. [26:05] President Trump has changed that. [26:07] And the direction is clear. [26:08] The concrete is being poured. [26:11] The steel is going up. [26:13] The machinery is being installed. [26:15] And across this great country, the American worker is getting another chance to build the world's greatest industrial economy. [26:23] The factories are coming home. [26:24] I've showed you this. [26:25] And with them comes America's industrial future. [26:29] And, by the way, you can go to a website, which was put up at incredible speed, whitehouse.gov forward slash manufacturing. [26:44] You can see every single project that I've talked about today. [26:48] All you have to do is hover your little mouse over the circle, and you'll get all the details. [26:53] And at this point, I'd love to open the floor to questions. [26:58] The only thing I ask is, I'm the director of the Office of Trade Manufacturing, talking about manufacturing today. [27:06] Let's stay in that lane. [27:08] Mr. Frederick. [27:09] Thank you for doing it. [27:12] Do you want to do the microphone? [27:13] Would that help the feed there? [27:15] Amazing story. [27:26] No doubt about it. [27:27] It's what people voted for. [27:33] It's not going to be one of the five days to get the power of what you've outlined today on a more grand scale up to the American voter. [27:51] Thank you. [27:52] By doing events like this, but I'm telling you, like, the Legacy Media doesn't want to hear any good news about Donald Trump. [28:00] This is incredible. [28:01] I mean, if you look at the underlying data with respect to this economy, I mean, let's be real here. [28:08] 4.3 unemployment rate. [28:10] That's full employment. [28:12] Labor force participation rate is going up. [28:15] Prices are trending down. [28:18] Productivity is up. [28:20] And we've got an incredible American manufacturing renaissance. [28:25] I don't see CNBC here. [28:26] You hear CNBC? [28:27] No. [28:28] Bloomberg? [28:29] You hear? [28:29] No. [28:30] Fox Business? [28:31] No. [28:32] Fox News? [28:33] No. [28:34] New York Times? [28:35] No. [28:36] Washington Post? [28:37] No. [28:37] Maybe we've got the Times here. [28:38] Speak up if you're here. [28:40] But they don't, you folks in the media, except for you present here, because apparently you're interested, you don't want to hear this good news story. [28:48] This is incredible. [28:49] Did you notice how many small and medium-sized towns around this great nation I talked about? [28:56] And all these people care about what happens is in New York and Los Angeles and Chicago, [29:01] which you're in the hands of communists right now, as far as I can see. [29:04] Next question. [29:05] Yes, ma'am. [29:06] In the middle here. [29:08] Thank you, Dr. Navarro. [29:10] Do me a favor. [29:11] Just say your name and who you represent. [29:14] Brittany Gibson from Axios. [29:16] Oh, Axios. [29:18] Hit me with it. [29:18] Go ahead. [29:19] A question on voting machines manufacturing. [29:23] There have been calls as recently as this week for Commerce Secretary Howard Lutnick. [29:27] So that's outside the lane. [29:30] That's not my lane. [29:32] You want me to call Howard? [29:34] Call Howard. [29:35] Well, do you share concerns about it? [29:37] No, I don't. [29:38] Look, if you want to know what I think about the whole issue of election integrity, just go to my website, PeterNavar.com. [29:45] I wrote the definitive work on how I think in all probability the 2020 election was stolen. [29:53] And again, for the media, I mean, shame on the media. [29:58] The president held a press conference in prime time, a prime time address. [30:03] You know how rare those are? [30:05] They're about one a year. [30:06] And Fox, Fox wouldn't even talk about it on their network. [30:12] They sent out a memo to their, the producers sent out a memo to their talent, such as it is, say, oh, you can't talk about that. [30:20] It's classified information from the intelligence community that says communist China was preparing to interfere in the 2020 election. [30:30] But no, we can't talk about that. [30:33] No. [30:33] Why? [30:34] Why? [30:35] So I don't know what to tell you in that. [30:37] Yes, sir. [30:37] Senator, you're a second question. [30:38] Yeah, go ahead. [30:39] Wait. [30:40] Have a follow-up. [30:41] Can you stay in this lane? [30:43] In this lane. [30:43] Okay. [30:44] Are you concerned that higher interest rates are going to stunt what you call them? [30:47] I am absolutely, I am, I, look, I have been absolutely vocal about the incredible incompetence of the Federal Reserve dating back to 2018. [31:05] As a member of this administration, as a member of this administration, as a member of the previous Trump administration, and during the Biden years. [31:12] I have spoken repeatedly about the incompetence of Jay Powell, three blunders raising rates too soon in the first term, raising them too late in the Biden term, and then cutting it by 50 basis points 48 days before an election to try to help Kamala Harris get out of the sewer. [31:33] And now we have Kevin Walsh, 48 days before an election, leading from behind a group of Fed people. [31:44] And the data is like, it's like, look at the data. [31:47] The data tells you there's no reason they should have raised that rates. [31:51] Now some more data has come out, and the chatter, and the financial intelligentsia is, oh, well, we probably won't raise in November because the data says we don't have to. [32:02] Well, the data said you didn't have to before. [32:04] So, yeah, yeah, the Fed is going to choke off this economy and send it into a recession if it's not careful, and shame on them. [32:13] Yes, sir. [32:13] Here, Bianca, can I say what I'm going to be on Wall Street? [32:15] Hang on, I'll go to you. [32:17] Relax, chill, chill. [32:19] I'm going to get to everybody, okay? [32:21] Okay? [32:22] It's all good. [32:23] It's not like a jungle here, okay? [32:26] Go ahead. [32:26] Thank you very much, Dr. Navarro, for this great opportunity. [32:30] Who are you and where are you from? [32:32] I am from Kurdistan. [32:34] Kurdistan, okay. [32:35] I am Kurdish and representative to media outlet, Kurdistan TV and Kurdistan 24. [32:41] Okay. [32:42] What role do you see for the Kurdistan region in U.S.-Iraq economic relations, and what would encourage American companies to invest there? [32:55] And I would like to... [32:56] You want us to invest in Kurdistan? [32:58] Is that what you're saying? [32:58] Yes. [32:59] I'm not an expert on Kurdistan. [33:01] I suspect that there's critical minerals and things like that. [33:04] We work well with Kurdistan. [33:08] It's like there's the geopolitics of whether Kurdistan is going to align with Russia or China or both or whatever, but I'm not here to talk about Kurdistan with all due respect. [33:19] Yes, ma'am. [33:19] How about Iraq? [33:20] And how about Iraq? [33:22] Prime Minister, last... [33:24] I'm talking about domestic manufacturing and how tariffs and tax cuts are bringing factories here. [33:32] That's the only thing I'm going to answer your question. [33:35] All right. [33:35] Yes, ma'am. [33:37] Thank you, Peter. [33:38] Bianca Gracia with Latino Wall Street. [33:40] We transmit in Spanish to $60 million a month on average. [33:44] How can the... [33:45] Buenos dias. [33:46] Buenos dias, Peter. [33:48] How can the Hispanic Latino workers and small business owners be competitive and get measurable share of jobs, contracts, and supply chain opportunities in this manufacturing renaissance initiative? [33:59] Well, if you noticed during the presentation, I spoke about how the construction boom has preceded the manufacturing boom. [34:15] This is strictly observational data, having lived a lot in California and elsewhere. [34:22] I would say that the Latino population is very, very well represented in the construction industry. [34:31] So we are getting it done. [34:33] Yes, ma'am. [34:33] Thank you, Dr. Navarro. [34:35] Taylor Mitchell. [34:36] Thank you, Dr. Navarro. [34:39] Taylor Mitchell with Real America's Voice. [34:41] I have a question, and then I have a follow-up question about semiconductors. [34:45] Sure. [34:45] The legacy media spent years warning Americans that President Trump's tariffs would destroy the economy, and now they're questioning the numbers coming out of his administration. [34:54] At what point does this stop being legitimate economic criticism and become an effort to discredit the results, and what would you say directly to those newsrooms? [35:03] It's not a fine line. [35:05] They have waged war on the Trump tariffs since 2018 when we first imposed steel and aluminum tariffs and then the Section 301 tariffs on China. [35:20] And you can go across CNBC, Bloomberg, Fox Business, and the financial media. [35:29] You can go to CNN, MSNOW, Half the Time, Fox News. [35:35] It's not the Republican's friend. [35:37] Memo to the world. [35:39] Don't watch Fox. [35:41] And New York Times, Washington Post. [35:44] The problem they have today is that we can go back and look at all the clips, like the written stuff they said. [35:51] Tariffs are going to cause inflation. [35:53] Tariffs are going to wreck the economy. [35:54] Tariffs are going to cause a depression. [35:56] Tariffs are going to do this, that, and the other thing. [35:57] We can go back and quote them verbatim. [36:00] And none of that happened. [36:02] And so when they say it again this time, we go, hey, wait a minute. [36:05] You said that six years ago. [36:07] It didn't happen. [36:07] You said it four years ago. [36:08] It didn't happen. [36:09] She said it two years ago. [36:10] It didn't happen. [36:10] So you have to understand that in this country, the people who control the messaging and the media are the same ones who have a vested interest in the cheap labor offshore and sending our jobs away. [36:27] And they don't give a damn about our national security. [36:31] They don't give a damn about MAGA people who shower when they get home, not when they get up. [36:38] And this is a battle we fight. [36:40] But this is why President Trump is in office. [36:43] It's because he cares about the people. [36:45] And real America's voice is going to take off now because Fox has made a fundamental strategic error in doing all of the crap it's doing. [36:58] Like not showing up to this, not talking, ordering their anchors not to talk about a major presidential address, cutting off the pool feeds from the Oval because it's having a little hissy fit. [37:14] Like they're like babies in diapers. [37:16] You know, Fox, just get your act together and just go over the CNN and MSNOW side and acknowledge who you are rather than masquerade that somehow you're conservative. [37:28] Watch R.A.V., watch Newsmax, watch OAN. [37:32] Listen to Frederick's radio shows and you'll get the truth. [37:35] All right. [37:35] I just have a quick follow up about semiconductors. [37:37] Sure. [37:37] That's OK. [37:38] Thank you. [37:39] So with Tawan making 70 percent of the semiconductors in the world, how can the U.S. begin to get more of that market? [37:45] And if you know, would you be able to share the status on China and Tawan regarding semiconductor manufacturing? [37:54] Well, obviously, TSMC is the big dog and Taiwan makes a lot of chips. [38:01] But just look at what I showed you, how much we're putting into Arizona. [38:06] And it's like it's that company, but it's here in the U.S. [38:10] So for all practical purposes, it's going to be an American company on American soil. [38:16] So we're moving as fast as we can on that one. [38:20] But if you notice, when I talked about all of the chip investments, I mentioned like seven other ones across the country. [38:28] And again, you can go to the map, go to the website, and you can kind of see where all that good stuff is. [38:34] Thank you. [38:34] All right. [38:35] So let's keep going here. [38:36] Thank you so much. [38:37] And then I'll come back. [38:38] Kara Castronova with Lindell TV. [38:40] Nice to hear you say. [38:41] Thank you for taking these questions. [38:44] China's magnet shipments to the U.S. reportedly fell in August even under the truce. [38:48] I know you've spoken at length about this, but is Beijing cheating on the deal? [38:52] And what happens specifically on January 10th if China keeps squeezing us? [38:56] And then I have a follow up. [38:57] Well, China is certainly cheating on the deal. [38:59] They are adopting a strategy. [39:02] Communist China is adopting a strategy we refer to as starve, not strangle. [39:08] And what they're doing is they're ratcheting down shipments of the rare earths and the critical minerals that other countries need to make them as a way of exerting their geopolitical leverage. [39:20] And it's a very dangerous game they're playing because we can do exactly the same to them and more. [39:26] So far, the truce such as is is holding, but it's an ongoing process. [39:35] I think what's important here is that China has declared itself. [39:41] It's basically come out of its peace and friendly closet and demonstrated that it intends to weaponize the supply chain and use every tool in the book to do that. [39:54] And what they've done is made my job a whole lot easier, OK, because now when I say, come on, we need pharmaceutical manufacturing here or critical minerals here or we need to start building electronic components that might be used in drones. [40:13] It's like it's not a hard sell anymore. [40:15] It's not a hard sell. [40:16] So thank you, China. [40:19] You did us a favor. [40:21] You you basically revealed your preferences. [40:24] And this great country knows how to respond accordingly. [40:27] Oh, shift over here. [40:28] I read your report, actually, about the sixty seven billion dollars in Chinese goods that were rerouted through Mexico. [40:33] Oh, the great transshipment scam. [40:35] By the way, yeah, that's a that's a report. [40:38] It's up on the White House site as well as Peter Navarro dot com. [40:42] Um, for people who are watching this and listening, transshipment happens when we put tariffs on China and and they hit a tariff wall. [40:53] So what they do is they ship the goods to other countries, over 40 countries at this point, Vietnam, Malaysia, Mexico, Canada, all sorts of countries. [41:06] And what they the simplest thing is, they'll slap on a new label and get the lower tariff. [41:11] So I'll do another talk on this sometime in the near future. [41:16] But what I'm doing was working with Customs and Border Protection. [41:19] We've developed what we call the A.I. detective border, and we're able in real time now to identify every container in every ship coming from every port in the world towards us and project with a very high degree of confidence whether that container contains tram shipment. [41:42] And by the time they get here, we give them a bill. [41:44] So that's how we're dealing with that. [41:46] Thank you so much, sir. [41:47] All right. [41:47] Yes, ma'am. [41:55] That's Sarah Roderick Fitch with the Center Square. [41:57] I just have to correct one thing, though. [41:59] I am from flyover country. [42:01] So I'm from Illinois. [42:03] So there are some of us here. [42:05] The People's Republic of Illinois now. [42:07] I'm from downstate. [42:08] All right. [42:08] Downstate. [42:09] Which actually did see quite a bit of many, a lot of companies. [42:14] It's pretty amazing, isn't it? [42:15] I mean, this urban kind of rest of the. [42:19] Caterpillar left. [42:20] Yeah. [42:21] John, you're a lot of those. [42:22] Yeah. [42:22] But anyway. [42:23] What can I do for you? [42:24] Yes. [42:24] So actually, this is a question regarding the blue states, red states, actually. [42:29] So has the administration sort of reached out to some of these blue states and tried offering [42:34] sort of an olive branch on really how to work on bringing some of these manufacturers out? [42:39] Yeah. [42:41] The premise of the question is somehow we're at war with these states. [42:45] No. [42:45] It's like that's not the point. [42:47] The point is that the companies choose. [42:50] What we do is we put up a tariff wall and we give a great federal tax break and then companies [42:57] choose. [42:58] Now, one of the virtues of this report is that if you're the governor of California, for [43:07] example, Gavin, are you listening? [43:09] Personal message from me to you. [43:11] It's like, take a look what you're missing out on here because you're woke crazies that [43:16] control your state basically have essentially a business climate which suppresses actual work. [43:25] And then you wind up having to run these redistribution schemes with taxes to pay off the Marxists [43:33] so you can stay in power. [43:35] That's not sustainable. [43:36] So, you know, let these states learn from this. [43:40] That's one of the important things. [43:42] I mean, this information, and before you walked in here, how many of you knew this? [43:46] You didn't know this. [43:49] Why? [43:50] Because the media doesn't report it. [43:53] But it's here now, and we'll see how much of the media reports it. [43:56] All right. [43:57] Let me just do the three more questions in, and I got a hard out in about six minutes here. [44:02] Yes, ma'am. [44:03] Hi. [44:03] Emma Nicholson, CBS News. [44:05] Can you speak- [44:06] Hallelujah! [44:07] Can you be able to speak a little bit about the pressures that elevated diesel prices are [44:12] putting on manufacturers- [44:14] Now, see? [44:14] Check this out. [44:15] The legacy media comes in here, and we're talking about manufacturing. [44:19] And the first thing she hits with is diesel prices, right? [44:23] That's like, that's what these people want to hit with going into this election, okay? [44:29] They don't want to talk about any of this stuff. [44:31] So, if you've got a good question and you want to write a good story about this, hit me with it. [44:36] But don't give me that crap, okay? [44:38] No, we're not doing that. [44:40] Okay. [44:42] Oh, we're pivoting that way. [44:44] Yes. [44:44] I'm sorry. [44:44] I'm wondering about manufacturers that rely on diesel prices. [44:47] All right. [44:47] Just hand the microphone over to the next person. [44:50] It's like, folks, you've got to learn, okay? [44:53] There's a lot of stories in the world. [44:55] You can't just be- [44:56] You're a young person. [44:57] Don't be a sock puppet for your liberal producers and work as an agent to interfere with this [45:02] election with crap like that, okay? [45:06] Hi. [45:06] Yes, ma'am. [45:07] Yes. [45:07] Alana Austin with Newsmax. [45:10] In my career, I covered the plants coming to various towns in Virginia, Missouri, and I [45:17] saw the devastation when the jobs went overseas in the aftermath of all of that. [45:21] So thank you so much for speaking to these really important issues. [45:24] I know there's been discussion about AI and new emerging technologies being an opportunity. [45:32] How do you see AI fitting into this whole conversation and the new job opportunities? [45:38] I know there's people, they're scared that the jobs are going to eventually go away. [45:41] Well, what's interesting about this presentation today is that all of this industrial activity [45:48] has little or nothing to do directly with AI, okay? [45:51] I mean, it's a fact of life, or should I say SI, superintelligence, and this is not the [45:59] forum to address it. [46:00] I would simply say, somebody said yesterday, Newsmax, I don't know if you were there yesterday [46:06] at the forum they held where Scott Besson was the headliner and we had a few other folks [46:12] like me, but it's important to do what President Trump has done with the AI executives. [46:20] We can't simply say, AI is going to be beneficial, don't worry about it. [46:26] It's like when these data centers go into communities, they create electricity problems, they create [46:34] water problems, they can create problems with the buy-up of farmland, and there's community [46:43] opposition for some or all of those reasons in places across the country. [46:49] And what President Trump has told these data center people is like, hey, you have to do [46:59] no harm first, right? [47:01] You've got to take responsibility for electricity, water, and other things, and be a good citizen. [47:07] And they're responding. [47:09] I mean, certainly not responding fast enough based on the political climate. [47:13] But that has to be, we call it in economics, internalizing the externalities, right? [47:18] A company goes in, makes a bunch of money, but if it imposes external costs like water [47:26] shortages on a community, it's got to pay for that, okay? [47:29] All right, last question here, sir. [47:32] Thank you, Dr. Navarro. [47:33] Jordan Conradsen with the Gateway Pundit. [47:35] I do have a few questions. [47:37] One of them, this kind of goes under the radar. [47:39] You were talking a lot about critical minerals and mining. [47:43] With the President's security agreement with Greenland and Denmark, how do you see this [47:47] boosting opportunities for American companies in mining and energy exploration on Greenland? [47:54] Well, look, the mining, for example, in critical minerals is for the oxides, right? [48:01] The mine material itself can be imported here, and then from there, it's oxides into magnets, right? [48:14] So to the extent that we can do stuff here, we don't need even that, but there's plenty of opportunities. [48:23] What's your last question? [48:24] Because I've got a minute. [48:27] With all this money flowing in, as you noted, about two-thirds of it is from foreign companies, [48:34] what's that going to do for our economy, especially bringing all this money in? [48:38] What responsibility does this put on future presidents to ensure that these companies [48:43] don't just abandon the United States once presidents? [48:45] Well, let me address that first. [48:47] I mean, that's a problem because if, for example, the Democrats take over the White House in 2028 [48:58] and they turn it over to the communists and they get rid of all the tariffs and this, that, [49:02] and the other thing, we will revert to a country without an industrial base, without a manufacturing base. [49:11] So it's very much a political choice that we have. [49:16] But in the meantime, when President Trump is in office, he's going to just keep doing what he's doing, [49:23] and he did a great job of it first term. [49:26] We saw the results. [49:28] We saw what happened when the Democrats took over and Biden undid much of the progress we made. [49:34] Now we're doing it again. [49:35] And maybe at some point a majority of the people in America will understand that the kind of policies [49:44] which President Trump advocates are the ones which will bring them both security and prosperity. [49:51] All right. [49:51] I thank you all. [49:52] I got to – you got to – no, hang on. [49:55] You got to forgive me. [49:56] I've been generous with the time. [49:58] But I want to thank Real America's Voice for being a pool on this. [50:04] And we'll do this again. [50:06] If you have some questions, just send an email to the president. [50:11] I do have to run, though. [50:12] Okay? [50:12] Thank you, sir. [50:13] All right. [50:13] Thanks a lot. [50:15] Thank you. [50:16] All right. [50:17] All right.