responded, i would not say we are thrilled about it. they have not responded. maybe they don't exist. maybe we are paying people that don't exist. this group just got here. those people are on the bubble, as they say. maybe they will be gone. maybe they aren't around. maybe they have other jobs. maybe they moved and they aren't where they are supposed to be. a lot of things that have happened. i would not say that biden ran a very tight administration. they spent money like nobody has ever spent money before, wasted money. the green a new scam and all the different things they spent money on. you have seen that with some other things i read in speeches. people can't believe what i read them. $20 million year, $30 million there for a little educational cost on something. circumcision. $20 million to inform the people

of such and such a country on other things and other things other than that. so, yeah, those people, right now we are trying to find out who those people are that have not responded. there will be some agencies. marco has people within state that are right now doing very classified, confidential work and we understand that. we are being a little more surgical. marco is doing a lot of things himself. some of the secretaries, we will be going to their man talking about it today. we will ask them to do their own doge. in other words, they will look in their group. lee zeldin thinks he will cut 65% or so of the people from environmental and we will speed up the process at the same time too. a lot of people weren't doing their job. they were just obstructionists.

a lot of people did not exist too. lee found a lot of empty spots of people that were not there, that did not exist. i think education will be one of those. you go around washington and see all of these buildings for the department of education. we want to move education back to the states where it belongs. indiana should run their own education. you will see education go way up. right now, we are ranked at the very bottom of the list. but we are at the top of the list in one thing. we spend more money per people than any other country in the world. yet, it is denmark and norway, sweden, and you hate to say this, and you know, we will get along very well with china. but it is a competitor. they are at the top of the list. they are among the top 10 usually. they are a very big country. we can use that as an excuse because we are a very big country too. but last time under bite and we

were ranked 40 out of 40. -- under biden we were ranked 40 out of 40. we were ranked number 40. one year ago we were 38. then 39. we hit 40. we are last in data and first in cost per people. that's unacceptable. reporter: mr. president, which department are you most impressed with? then, to mr. musk, which department have you received the most resistance from? pres. trump: both of those questions are a little bit -- well, you are a controversial guy. it is very early now. i am impressed, so far, with everybody. some of them just got here. are they just got approved two days ago. but i am very impressed with everybody. so far i am happy with all the

choices. i think elon has done incredibly with some groups and some groups are much easier. it's a very difficult situation. we are right now negotiating very successfully with russia and with ukraine. we have a lot of countries involved. we have to be a little careful what we do and who we are terminating. marco is doing that. i think you will be very precise. we are cutting down government. we are cutting down the size of government. we have to. we are bloated. we are sloppy. we have a lot of people that are not doing their job. we have a lot of people that don't exist. look at social security as an example. you have so many people on social security where, if you believe that they are 200 years old, what we are doing is writing out a check is going out for them and is somebody cashing those checks that is maybe 35 years old? there is a lot of dishonesty and fraud. at this moment, i will take

elon off the spot. he said it very well that he is impressed with the people in this room, very impressed, and i am too and it is too early to say. but i think everybody is on board. they all know that we want to balance the budget. we want to have a balanced budget within a reasonably short period of time. meaning next year or the year after. reporter: your number one issue is at the border. we got new information that they are adopting federal agents, putting personal information out there, these activists. pres. trump: that's true. . reporter: what will we do about pres. trump: that? a lot of those activists are acting illegally and we will give that to our attorney general and she will take a look at that very strongly. we have tremendous support from border program and from ice. ice agents have been unbelievable in leadership at

portable draws been incredible. they are working very well. -- border patrol has been incredible. they are working very well. we set a record on the least number of illegal aliens, migrants, coming into our country that we have had in more than 50 years. we did this all within a period of weeks. because we took over a mess. the world was pouring in. they were coming from jails, prisons, mental institutions, and insane asylums and they were gang members and drug dealers. anybody wanted to come in. from not just south america. from all over the world. it is amazing what they have done. kristi noem and tom homan, the job they have done has been absolutely amazing. we set records. we want people to come into our country, by the way. but, they have to come in illegally. i want that to be really understood. we want people in our country, but they have to come in legally. reporter: can i follow on that mr. president. about the trump gold card idea

you unveiled yesterday. does this reflect a view on your part that the american immigration system has never been properly monetized as you feel it should be? pres. trump: not so much monetized. it has not been properly run. i get calls from, as an example, companies where they wanted to hire the number one student in a school. the person comes from india, china, japan, lots of different places. they go to harvard, the wharton school of finance, yale, all great schools. their graduate number one in their class. they are made job offers, but the offer is immediately rescinded because you have no idea whether or not that person can stay in the country. i want to have that person stay in the country. these companies can go buy a gold card. they can use it as a matter of recruitment.

at the same time, the company is using that money to pay down debt. we will take down a lot of debt with that. i think the gold card will be used by not only for that, but companies. i could see apple -- i have spoken with tim cook. by the way, he will make a $500 billion investment in the country only because of the results of the election. and i think because of tariffs. he will want to be under the country because of tariffs. if you are in the country there is no tariff. out of the country you have to pay tariffs. that will be a great investment he is making. i know it will be a great investment. but, we have to be able to get people in the country. and we want people that are productive people. i will tell you, the people that can pay $5 million will create jobs. they will spend a lot of money on jobs. they will have to pay taxes on that too. they will be hiring people and bringing people and companies in. i don't know. maybe it will sell like crazy. i happen to think it will sell like crazy. it's a bargain.

i think howard and scott, a few of you are really responsible for it. howard, do you want to discuss that for a couple minutes, i think it will be a successful program? >> the eb five program had investment in projects in america that were often suspect or did not work out. there was not any oversight. for a million-dollar investment you got a visa and then you came into the country and ended up with a green card. it was poorly overseen. poorly executed. then you had the border open where millions came through. the idea is we will have a proper business. we will monitor the eb5 agreement. for $5 million they will get a

license from the department of commerce. then they will make a proper investment on the eb5. scott and i will design the eb5 investment model. scott and i are the best people together to do that. this is the trump administration. we all work together to be the best. if we sell, remember, 200,000. there is a line for eb5 of 250,000 now. 200,000 gold green cards is $1 trillion to pay down our debt. that's why the president is doing it. we are going to balance the budget. we are going to pay off the debt under president trump. reporter: to qualify you have to promise to create a certain number of jobs in the u.s.? pres. trump: no. because not all these people will be job builders. they will be successful people or people hired from colleges. sort of like paying an athlete a bonus.

the companies will go out and spend -- they will buy five of them and they will get five people. i have had a complaint from a lot of companies where they go to hire people and they cannot hire them out of colleges. do you know what they do? they go back to india, the country where they came, and they open a company. they become billionaires. they are employing thousands and thousands. there are a lot of examples, some really big examples where they were forced out of the country. they graduated top in their class at a great school and were not able to stay. all the time you hear it. the biggest complaint i get from companies other than overregulation, which we took care of, but will have to take care of again because a lot of it was put back on by biden. the biggest complaint is they cannot have any longevity with people. this way, they have pretty much unlimited longevity. with the $5 million, that is a

path to citizenship. it is a sort of a green card plus. it is a path to citizenship. we will call it the gold card. i think it will be very treasured. i think it will do very well. we will start selling hopefully in about two weeks. so you understand, if we sell one million, that is $5 trillion. $5 trillion. howard was using a different number. but it is $5 trillion. if we sell 10 million, which is possible. 10 million highly productive people coming in, or people we are going to make productive. they are young but talented, like a talented athlete. that is $50 trillion. that means our debt is totally paid off. and we have $15 trillion above that. i don't know that we will sell that many. maybe we want so many at all. but i think we will sell a lot. no other country can do this because people don't want to go

to other countries. they want to come here. everybody wants to come here, especially since november 5. reporter: --sec. lutnick: all these people will be vetted. reporter: with ukraine can you talk about what type of security guarantees you are willing to make? pres. trump: i want make security guarantees beyond very much. we will have your do that. -- europe do that. europe is their next-door neighbor. we will make sure everything goes well. we will be really partnering with ukraine in terms of rare earth. we very much need to progress. they have great wearers. we will be work -- we very much need rare earth and they have great rare earth. we don't have much of it here, but not that much. we need a lot more to really propel us to the next level.

we are competing right now with ai. we are leading with everything now. but we have too -- we need resources. we have to double our electric capacity. we have to do many things. we have to triple the electric capacity from what we have now, if you can believe it. i will say their spirit of the deal we are making gets us -- i will say this. the deal we are making brings us great wealth. we get back the money we spent. we hope we can settle this. we want to settle it. i tell you what. i am doing it for two reasons. number one by far is to watch all these people being killed. i see people every week from, i assume, satellite, mostly. but there are pictures on sight of thousands of soldiers being killed and decimated. because today military equipment is so powerful and devastating. number one, i want to see people stop. they are not from here. they are from primarily two other countries. let's talk about the middle

east. we have to solve that problem too and it has come a long way. a lot of things are happening on that. i am watching soldiers being killed. ukrainian and russian soldiers being killed. my number one thing is to get that stopped. my number two thing is i don't want to pay any more money. by then spent 304 -- spent 350 billion dollars without any chance of getting it back and now we will get that money back plus a lot more. we have provided something very important. i will be working with ukraine. we will be taking that. we will be taking what we are entitled to take. they spent $350 billion. europe spent 100 billion dollars. does anybody really think that is fair? we found out not so long ago that the money they spent they get back. that the money we spend, we don't get back.

i said, we will get it back and we will be able to make a deal. president zelenskyy is coming to sign the deal. it's a great deal for ukraine too because they get us over there. we will be working over there. we will be on the land. in that way there is sort of automatic security because nobody will be messing around with our people when we are there in that way. europe will be watching closely. u.k. has said and france has said they want to put -- they volunteered to put so-called peacekeepers on the site and i think that is a good thing. reporter: you mentioned the high cost of eggs. consumer confidence last week had a big drop from last month the biggest dip in three years. why is it that the case? pres. trump: look at confidence in the nation. the biggest increase in the history of the chart. it went up 42 points. in a period of like days after the election, since the

election. since the election, the confidence in our nation, including the right track, wrong track, the first time it has ever happened where we were on the right track because the country has been on the wrong track a long time. the confidence in business, confidence in the country, reached an all-time high. we have never reached levels like we are right now. reporter: you have been very clear in saying as long as you are president iran will never get a nuclear weapon. is it also your policy that as long as you are president china will never take taiwan by force? pres. trump: i never comment on that. because i don't ever want to put myself in that position. if i said it, i would not be saying it to you. i would be saying it to other people, may be people around this table. very specific people rebound this table. i don't want to put myself in that position, but i tell you what.

i have a great relationship with president xi. i have had a great relationship with him. we want them to come invest. i see many things saying we don't want china. that's not right. we want them to invest in the united states. we will invest in china. the relationship we will have with china will be very good. they won't be able to take advantage of us. it was sad to watch. but we will have a good relationship with china and russia and ukraine and the middle east. we are doing things -- look, when i left, we had no wars. we had it defeated isis totally. we have no inflation. we did not have the afghanistan withdrawal, the worst withdrawal

anybody has ever seen. i think that is one of the reasons president putin looked at that and said, wow, these guys are a paper tiger. we are no paper tiger. we got rid of isis in three weeks. people said it would take five years. we did it because it was what i had to do. the man at the head of that operation will now be your chancellor of the joint chiefs. i liked him right from the beginning. as soon as i heard, that's my guy. reporter: to continue the pause on tariffs against mexico and canada. pres. trump: i'm not stopping. no. millions of. mostly due to us. right now it is very hard to come through the border. look.

the damage has been done. we lost millions of people due to fentanyl. it comes mostly from china, but through mexico and through canada. i have to tell you, april 2 -- i was going to do it on april 1, but i am a little superstitious so i made it april 2. the tariffs go on. not all of them, but i a lot of them. you will see something amazing. we have been taken advantage of as a company -- country for a long period of time. we have been tariffed. when i was here i tariffed. i took in 700 billion. not one president in our history of our country. at the same time, china respected us. when covid came in it was a different deal. i used to call it that china virus. i guess i can call it that again.

reporter: on gaza, i wonder if there is progress towards a second phase of the cease-fire. pres. trump: i am very disappointed. what i saw four bodies came in today. these are young people. young people don't die, ok? these are young people. four bodies came in today. they think they are doing us a favor by sending us the bodies. look, that is a decision that has to be made by israel, by benjamin netanyahu. israel has to make that decision. we have a lot of hostages back. it is very sad what happened to those people. we had a young lady with her hand practically blown off because she put up her hand to try to stop a bullet coming her way and it hit her hand and blew off her fingers. this is a vicious group of people. israel will have to decide what they are doing. phase one will be ending. today they sent in four bodies.

bodies. i will say one thing. i have spoken to a lot of the parents and people involved. they want to those bodies. almost as much, maybe even just as much as they wanted their son or their daughter. amazing. please, sir, please, my son is dead but they have his body, please, can you get it? it is the biggest thing. it is incredible. the level they want the bodies of these people. they are dead. they are dead. . i saw the ones that came in two weeks ago and they looked like they just got out of a concentration camp for the following group -- week a group came in that was not in as bad of shape. they just have to make a decision. you are right. phase one. phase two has started here today -- has started. today we got seven. they were dead. we knew they were going to be bodies as opposed to people that

were living. very sad situation. at some point, somebody will say we have to do something about this. reporter: mr. president you were talking about afghanistan and in the botched withdrawal. have all generals or command staff involved with the withdrawal been fired or relieved of duty? pres. trump: great idea. i won't tell this man what to do but i will say that if i had his place i would fire every of them. that's a good question. >> it is a question we thought a lot about. we are doing a complete review of everything that happened with the botched withdrawal of afghanistan and plan to have full accountability. one of the first things we announced at the defense department. certainly, general pain was not a part of that, instead he was a part of leading the effort against war fighters. we are taking a very different view than the previous administration and there will be

full accountability. pres. trump: i don't see big promotions in that group. i think they will be largely gone. it was a horrible display. i have dealt with the parents and family of the 13 killed. but nobody ever talks about the 40 so badly hurt with the arms and the legs and the face and the whole thing, the missing arms and legs. it was so terrible. it should have gone through bagram. we have a big bass with big fences were nobody can get in and you have hundreds of acres instead of a little local airport where the whole place went crazy. it was so badly handled. i would think most of those people will be gone. reporter: will we take bagram back? pres. trump: i tell you what has bothered me very, very much. we give billions of dollars to afghanistan. nobody knows that. nobody knew that. did you know we give billions of dollars to afghanistan? yet, we left behind all that

equipment, which would not have happened. we were getting out. i got it down to 5000 people. we were going to keep bagram, not because of afghanistan but because of china. it is exactly one hour away from where china makes its nuclear missiles. we will keep bagram. we were going to keep a small force on bagram. we are going to have bagram air base. one of the biggest airbases in the world. one of the biggest runways. one of the most powerful runways in the sense that it was very heavy concrete and steel. you could carry about anything. you could land anything on the runways. do you know who is occupying it right now? china. china. biden gave it up. we will keep that. we will have a withdrawal. we will take our equipment. we will do it properly. we will keep the equipment. what happened there -- in all fairness to putin, when he saw that he said, well, this is our time to go. to go into ukraine, i guess.

the timing seemed about right. we sent billions of dollars in a theater nobody knows. if the american public knew that they know it now. if we are doing that they should give our equipment back. i told pete to study that. we left tens of millions of dollars worth of equipment behind. brand-new trucks. you see them display it every year on a little roadway some place where they have a road and drive waving the flag. talking about america. a beautiful equipment that is all -- i mean, top-of-the-line stuff. brand-new stuff. now it is getting older. if we are going to pay them i think we should get a lot of the equipment back. did you know afghanistan is one of the biggest sellers of military equipment in the world? we were first. there were second or third. can you believe it? selling 770,000 rifles. a 70,000 armor plated -- many of

them were armor plated -- trucks and vehicles. 70,000. think of a used car lot. the biggest one in the country. i would say, jd, if somebody had 500 cars, that would be a lot. this is 70,000 vehicles we had there. we left it for them. i think we should get it back. reporter: the spending bill passed last night aims to cut $2 trillion. can you guarantee medicare, medicaid, and social security won't be touched? pres. trump: i have said it so many times that you should not be asking me that question. this will not be read my lips. it will not be read by lips anymore. we won't touch it. now, we will look for fraud. i am sure you are ok with that. people that should not be on. people that are illegal aliens and others. criminals, in many cases. that is with social security. you have a lot of people. you see that immediately when you have people that are 200 years old being sent checks for

such a security. some of them are actually being sent checks. we are tracing that. but you have a lot of fraud. reporter: thank you, i'm sorry. part of your mission has been to restore executive control over the executive branch. is it your view of your authority that you have the power to call up any or all of the people seated at this table and issue orders that they are bound to follow? pres. trump: oh , yeah, they will follow the orders, yes, they will. reporter: no exceptions? pres. trump: let's see. she will have exceptions. of course they will have exceptions. you know that. reporter: can you clarify the canada/mexico tariff? pres. trump: 25%. april 2. reporter: a precedent for canada and mexico. pres. trump: and for everything.

sec. lutnick: fentanyl related is a pause if they can prove to the president they have done an excellent job, they have 30 days. but the overall drug is april 2. by the fentanyl related things, working hard at the border. at the end of the 30 days they have to prove to the president they have satisfied him to that regard. if they have, he will give them a pause or they won't. pres. trump: we lose 300,000 people per year to fentanyl. not 100, 95 like you have been reading it for years. we lost, in my opinion over the last couple years on average may be close to 300,000 people. that. effeminate -- dead. the families are ruined. when they lose a daughter or son, the families will never be the same. you are talking about a million people.

i see it. the daughters died. the sons die. because of fentanyl. in some cases they don't know they are taking it. they are buying something else laced with fentanyl ended up dying. i know many people that have lost children to fentanyl. and for other reasons. but to fentanyl. it is such a big killer. those people are never the same people. i have seen people that for the rest of their lives they are not the same people. they are so different it is not even believable. dynamic people, happy people that are they die a miserable death. that is because of the crap that comes in three china, mexico, and canada. a lot of it comes through canada. look, we support canada. $200 billion per year in subsidies one way or the other. we let them make millions of cars. we let them send us lumber. we don't need their lumber. we will free up our lumber. lee will do that, the head of

environmental will free up our lumber. we have the best lumber there is. we don't need their lumber. what do we need their lumber for? we subsidized them $200 billion per year. without us canada cannot make it. canada relies on us 95%. we rely on them 4%. big difference. i say, canada should be our 51st state. no tariffs, no nothing. we give them military protection. they have a very small military. they spend very little money on military. our nato, they are just about last in terms of payment because they say, why should we spend on military? most nations can't afford to even think about it. why should we spend on military? the united states protects us. i would say that is largely true. we protect canada. but it's not fair. it's not fair that they are not paying their way. if they had to pay their way

they could not exist. when i spoke to -- let's call it the prime minister rather than the governor. when i spoke to him i said, why are we giving you $200 billion per year and he was unable to answer the question. i said why are we letting you make millions of cards and send them in? he was unable to answer the question. justin trudeau. nice guy. i think he is a good guy. i call him governor trudeau. he should be governor. the fact is, if we don't give them cars -- we don't have to give them cars. the tariffs will make it impossible for them to sell cars into the united states. the tariffs will make it impossible for them to so lumber or anything else into the united states. -- cell lumber or anything else into the united states. all i am asking to do is break even or lose a little bit not lose $200 billion. i love canada. i love the people of canada. honestly, it's not fair for us to be supporting canada.

if we don't support them, they don't exist as a nation. reporter: have you made a decision on what level you will seek on tariffs in the european union? pres. trump: we have made a decision that we will be announcing very soon and it will be 25% generally speaking on cards and all the things. the european union is a different kind of case and then canada. or they have really taken advantage of us in a different way. they don't accept our cars, they don't except our foreign products and use all kinds of reasons why not. we accept everything of them. we have about a $300 billion deficit with the european union. i love the countries of europe. i guess i'm from there at some point along long time ago, right? but indirectly. pretty directly too i guess. but i love the countries of europe. i love all countries, frankly.

but the european union was formed in order to screw the united states be at let's be honest. the european union was formed to screw the united states. they have done a good job of it but now i am president. reporter: what if the people you retaliates? pres. trump: they can try, but they cannot. reporter: china's retaliatory tariffs on the 12th of february? pres. trump: they can do it and try come up the numbers can never equal hours. we are the pot of gold. we are the one everybody wants. they can retaliate, but it can't be successful. we just go cold turkey. reporter: have you talked about privatizing deportation? pres. trump: i have not. reporter: with cbs news is it a case you want to see go to trial? the 60 minutes. pres. trump: cbs did something.

it was amazing. kamala was unable to answer a question properly and that they asked and inserted an answer. they gave her an answer. it was two days before the election. there sunday night before the election. they put her words from another question that was asked about half an hour later. they put that into the question. nobody had even ever heard of it before. nobody has ever heard of anything like this before. but they did it. they say, on numerous occasions. the fcc is looking at it strongly. everybody is looking at it. but nobody has ever seen it. think of it. they took her answers and changed them. i do not mean they changed a word or two or cut off a half of a sentence or couple words. i have had that happen too. but then they say, well, we want

brevity. they took out her answer and they inserted and entirely -- an entirely different answer that made her sound competent. they did this. i thought i have heard of everything when it comes to that stuff. i had never heard of it. nobody has ever seen. so we sued. we are in discussions of settlement. reporter: what would the number be? pres. trump: i think a lot. it probably did affect the election. we won by a lot. too big to rig,, but it probably did affect the election. i could have lost the election because of that. we have to get to honest elections. we have to go back to paper ballots and voter id. one take election, ideally. or short-term. not 41 day, 61 day elections

were boxes are put in a room and let's move boxes to put in a new air conditioning system. you see the boxes move. you say, where are all the boxes? what happened to the boxes? they never came back. our elections are extremely dishonest. we are the only country in the world that has mail-in voting and all the different things we have put in. no other country in the world has it. france went to -- they have some of the things we had. they went to same-day voting. all paper. paper is very sophisticated. it is a very sophisticated form of a voting right now. it is a very safe form of voting. i wish the governors would do it. paper ballots cost 9% of machines. and they are 100%. nothing is foolproof. but they are as close as you get. we will see what happens.

on the 60 minute thing, nobody has ever seen anything like it. reporter: you link the sec action to litigation? pres. trump: i don't think but the lawyers will look at it. the fcc is headed by a very confident person. and you have very confident people on the board. they're looking at it seriously. reporter: of all the people you have sat across from and negotiated with, is president putin distinct in any way? pres. trump: he's a very smart guy and a very cunning person. but i have dealt with some real bad people. i will tell you, as far as this is concerned, we have -- you have to understand he had no intention, in my opinion, of settling this war. i think he wanted the whole thing. when i got elected we spoke. i think we will have a deal. i can't guarantee that we had a deal is a deal. lots of crazy things happen in

deals. but i think we will have a deal. if i did not get elected, i believe he would have continued to go through ukraine and over a period of time, a lot of people, and a lot of people would have been killed. it would have lasted a period of time. the reason ukraine -- and i have great respect for ukraine as fighters. they have great fighters. but without our equipment the war had -- would have been over, like people said, in a very short period of time. remember i gave the javelins that knocked out the tanks at the beginning of the war. they said obama at the time gave chutes and trump gave javelins. i was the one that david -- did that but i reporter: want to see it end. will he have to make concessions, president putin? pres. trump: yes, he will have to. i believe because we got elected the war will come to an end. and i believe if we did not get

elected, if this administration did not win the election by a lot, that war would go on for a long time. and he would want to take the whole thing. the big question i had is, does he want to take the whole thing? ukrainians are good fighters, i have to say. but without the equipment, without our equipment. we have the best military equipment in the world. without our equipment that would have been over very quickly. reporter: what concessions would you like to see? pres. trump: i don't want to tell you right now. but i can tell you that nato, you can forget about it. that is probably the reason the whole thing started. i think, jd, we can say that we do have a statement on that? vice. pres. vance: as the president said we wont do the negotiation in public with the american media but in private

with the president of russia and president of ukraine and other leaders. i think that is how it has to go for it i want to push back against some of the criticism i have seen of the administration on some of this. every single time the president engages in diplomacy you preemptively accuse him of conceding to russia. he has not conceded anything to anyone. he is doing the job of a diplomat and he is the diplomat and chief as the president of the united states. reporter: can you talk more about the vetting process? pres. trump: that process is being worked out right now. we will be very careful. reporter: can chinese nationals get one? iranian nationals? pres. trump: we probably won't restrict too much in terms of countries but may be individuals. we want to make sure we have people that love our country and are capable of loving the country. reporter: there is a measles outbreak in texas where a child is reported to have died.

will secretary kennedy be looking into that? pres. trump: bobby, do you want to speak on that? sec. kennedy: i have been following the measles epidemic every day. i think 120 four people have contracted measles at this point in that county of texas. mainly, we are told that there are two people that have died. we are watching it. there are about 20 people hospitalized, mainly for quarantine. we are watching it. we put out a post on it yesterday and we will continue to follow it. incidentally, there have been four measles outbreaks this year . in this country last year, there were 16. it's not unusual. we have measles outbreaks every year. reporter: you sound a little

under the weather. sec kennedy: i have a permanently bad throat. reporter: will you send peacekeepers to support europe? pres. trump: we have a great relationship with europe. you can talk about france or any of them. we have a great relationship with europe. reporter: how will the united states do that? pres. trump: i hope we have the problem where we can worry about peacekeeping but we have to get there first. i hope we have the problem of worrying about peacekeeping. i think that will be the easiest problem, jd, we have ever had. we don't have the time. but peacekeeping is very easy. it's making the deal that is tough. again, nobody was speaking to russia at all. probably 1.5 million soldiers have been killed, close to 1.5 million soldiers. not to mention -- i will tell

you. the thing with that horrible war that should have never started. it would have never started if i was president and it did not start for four years. it was not even thought about starting with the thing with that war is you are highly underestimating the number of people that have been killed. far more people have been killed in that war then you like to talk about. you like to talk about numbers like a million people. well, they had much more than a million soldiers killed. but you have a lot of cities that have been knocked into the ground. they are demolition sites for literally demolition sites. every single building is knocked to the ground and a lot of people were killed in those buildings. two people were minorly injured or just injured a little bit. people were killed by the thousands where there were a lot more people killed in that war then the media wants to talk about because biden did a horrible, horrible job. he should have prevented that war. putin would have never gone in.

that war but have never taken place if i were president. reporter: how would the united states -- what would you be willing to do --. >> u.s. president donald trump in his first cabinet meeting at the white house. notably elon musk spoke for a length of time along with other cabinet members. two continue watching this go to live go on the bloomberg terminal. we want to bring in a bloomberg balance kailey leinz. this is ongoing. it has been one hour since he began talking and what are the headlines when it comes to tariffs. kailey: reiterating tariffs will go into place on canada and mexico specifically, those are the new date they are suggesting is april 2. those were initially delayed in 30 days which would have brought us to march 4. we had from commerce secretary howard lutnick that it is march 4 the countries have until to prove they are making progress

on people and drugs coming over the border specifically relating to fentanyl. we should note when it comes to canada, the number of pounds of fentanyl that have crossed the border in the last year is quite minimal. 43 compared to the 21,000 that crossed the southern border with mexico but they are still looking for progress there. that's what they have to prove. the president says tariffs go into effect april 2 and also talking about tariffs on europe at 25% for cars and other things. we will see as he speaks if we gets more -- we get more specifics. he also faced questions over he confirmed at the top of the meeting ukrainian president volodymyr zelenskyy will come to washington friday to sign a mineral steel that trump suggests will help the u.s. get back some money that has been spent in ukraine. he continually says the figure of the u.s. has provided in resources is $350 billion compared to $1 billion in

europe. the numbers are more like $175 billion in aid to ukraine, a lot spent at home on u.s. defense industrial capacity. while the u.s. has outspent europe or out provided what europe provided in military aid we have seen europe outpacing the u.s. and other direct humanitarian aid for example. we just heard him talking about negotiations with putin suggesting putin will have to make some concessions in ukraine suggesting if he had not been elected putin would have continued the war and tried to take the whole of ukraine. another thing that got a lot of attention so far in the cabinet meeting, perhaps no surprise, given the attendance of elon musk himself is the department of government efficiency. we heard elon musk reiterating the target of cutting $1 trillion in spending. he said $4 billion per day in cuts will be needed to do that. there was a lot of back-and-forth over the email elon musk tweeted about, from the office of personnel management asking federal

workers to justify what they did last week and to keep their jobs. they talked about how it will need the cooperation of other people around the cabinet table, actual members of the crime cabinet to enforce that. donald trump, -- members of the cabinet to enforce that. donald trump suggested that the people who have not responded to the email are on the bubble. scarlet: thank you, kailey leinz, cohost of bloomberg's "balance of power." where things stand when it comes to the financial market. the s&p 500 gaining for the first time in five days up .5% trying to reclaim the 6000 level. the magnificent seven names also rebounding as well. nvidia higher before reporting earnings after the closing bell. we will bring you all the latest on that. at the rally in treasuries losing a little steam, but still intact. the 10 year yield fell about 10 basis points yesterday. a much smaller decline today and bitcoin continues to stumble in its fourth day of losses at

$86,000. for more in the state of financial markets we bring in christina hooper, chief global market strategist at invesco. christina, because kelly was talking about doge and the effort to reduce government spending and, perhaps, get to a balanced budget as the president mentioned, i want your take because a lot of that is getting reflected in markets with a lot of uncertainty. you have been talking to individual investors about this. christina: absolutely. while some are excited about the prospect of dramatically impacting the fiscal deficit, bringing it down, i was surprised that many were somewhat skeptical in terms of how much actual savings we could see. if, for example we will get about $5,000 doge payments. if we will be adding on a lot of tax cuts. i think there is also a lot of concern growing around the impact on the growth picture. when we think about government spending we think of a

multiplier effect because it goes into the economy. different forms of government spending have different impacts of the economy. that can happen in reverse when you cut government spending, whether it is contracts or employees. by now we are seeing a growth scare. a lot of it is around the reduction in government spending. scarlet: what about tariffs? very few have actually gone into effect. the ones on canada and mexico have been pushed into april 2. though there is a lot of tough talk, what we have seen is an additional tariffs imposed on chinese goods, which was already in place, but beyond that, still very much a work in process. kristina: i am a big believer in the psychological impact threats of tariffs can have like expectations of higher inflation. a perfect example is the michigan survey friday. it was the worst of both worlds. we saw inflation expectations go up dramatically.

and we saw consumer sentiment go down. that is the opposite of what we would like to see. that goes hand in hand. not only is it concerns about a reduction in government spending hurting growth, there are real concerns about inflation going up and impacting buying power, hurting consumers. that of course it then can impact consumer spending going forward. if you are worried that you are going to lose your job and you are concerned about prices going up, that can be pretty problematic and create a significant headwind. we are not there yet. these signals mean we have to watch this more carefully. scarlet: i mentioned four straight days of losses in the s&p 500. we are rebounding today. we are entering a seasonally weak period for equities. how are you positioning your portfolio now? kristina: it is a perfect opportunity to ask ourselves, where are we overweight? where are we underweight? because we have had a very

strong multiyear rally in u.s. equities. most portfolios are likely overexposed there and underweight quite significantly areas like european equities, u.k. equities, japanese equities , as well as emerging markets equities. i did outlook we put out in november we argued that is where opportunities are, particularly developed xus. this is a time to develop adequate exposure there. it is an important message that in a time where uncertainty is abundant valuations typically matter more. where we find the lower valuations are outside the u.s.. certainly we can find some in the u.s. in cyclicals and smaller caps but we also want to go outside the u.s. for that with diversification, diversification, diversification across and within asset classes. scarlet: always a pleasure. thank you so much. kristina hooper chief global

market strategist at invesco. our stop at our is nvidia, which will release earnings after the closing bell. every corner of the market will be watching the results. john van is equity research analyst at keybank capital markets with an overweight rating on nvidia. nvidia will deliver another quarter where earnings growth and revenue share will rise 60% -70% from last year but sentiment in the stock has weakened considerably since the deepseek revelation. have you adjusted your estimates to the downside or the upside? john solon -- john: we adjusted our numbers to the upside. there were initial concerns that deepseek would lower the compute requirements for nvidia gpu's. those have been alleviated. what we are hearing from the supply chain now is deepseek has actually increased the band -- demand for nvidia gpus particularly from china and hyper scalers realizing they can

trade on these frontier models with lesser compute capabilities. scarlet: a contrarian take, really, as to how this might be a silver lining. how do you expect nvidia to frame the outlook? what is the catalyst for under promising now, given conservative guidance, and over delivering later versus sounding at optimistic tone? john: i think nvidia will embrace deepseek longer-term. i think they will guide moderately above consistence -- consensus for the quarter. what will drive a lot of near-term growth is they are ramping up a new gpu platform where there is a big paradigm shift. they are carrying significantly higher sps and as it ramps over the next couple quarters it should drive nvidia confidence that they can articulate expectations for sequential growth over the next few quarters. scarlet: black wall, the concern

for potential air pocket, the empty space between the existing hopper chips and the ramp up of blackwell. are those concerns justified? john: some of the concerns are justified. we think they will be offset by a number of factors. one, the blackwell gpus carry significantly higher ssps. they are having issues with ramping. we are hearing customers are able to push out some of the orders and pull in backlog of orders of more traditional rack systems with blackwell gt used within hex -- hdx and there will be a supply chain seven point from a revenue recognition perspective more than offsetting the decline of the prior generation gpu. scarlet: nvidia stock down more than 10% from the high in december. kristina hooper was just on

saying in these uncertain times valuations matter more. what is your take on the nvidia evaluation? john: we think nvidia is attractively priced trading in the mid to high 20's from a key perspective. that stock trades 35, 40 times. we think they are the best positioned chip company to monetized the outsized advances of generative ai right now. scarlet: what will be the number one question you want jensen huang to answer during the earnings call today? john: obviously, the number one topic i think during earnings will be his response to deepseek. obviously, we expect he will come out and embrace deepseek. more importantly, it is how we view deepseek's impact on the longer-term plan playing out. obviously, deepseek, the concern is it introduced optimizations that lower potential compute

necessary to transition computer models. i think he will have to articulate why this is not going to eat scarlet: into their long-term. scarlet:john vinh a pleasure to speak with you. that does it for bloomberg markets. the way i approach work post fatherhood, has really trying to understand the generation that we're building devices for. here in the comcast family, we're building an integrated in-home wifi solution for millions of families like my own. in the average household, there are dozens of connected devices. connectivity is a big part of my boys' lives. it brings people together in meaningful ways.

>> from the world of politics to the world of business, this is balance of power. p.

live from washington, d.c. >> house republicans pass a budget resolution after the president twists some arms. welcome to the fastest show in politics as speaker johnson scores a win but what happens next may be the hard part. i'm joe mathieu alongside kailey leinz in washington. thank you for being with us on balance of power. we have big questions about how the house and senate are going to get along. kailey: they are going to have to reconcile and they are pursuing different strategies right now, although they say they are trying to achieve the same aim. there is some discrepancy between the way in which the tax cuts or the length of them should be implemented. with the house passed last night would not