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President Trump Holds Press Conference With Japan's Prime Minister. Aired 2:30-3p ET

Aired February 07, 2025 - 14:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[14:30:00]

SHIGERU ISHIBA, JAPANESE PRIME MINISTER: -- further strengthening the strong and unwavering Japan-U.S. alliance to achieve a free and open Indo-Pacific.

The President and I concurred to strengthen the deterrence and response capabilities of the alliance and to work closely in addressing strategic challenges that both countries are facing in this region. I conveyed to the President that Japan, as an ally of the United States, is ready to share responsibilities and to play its own role. I also reiterated Japan's unwavering commitment to fundamentally reinforcing its defense capabilities, and reconfirmed the unwavering commitment by the United States to the defense of Japan.

We reaffirmed that Article 5 of the Japan-U.S. Treaty of Mutual Cooperation and Security applies to the Senkaku Islands. With half of the world's population and approximately 60 percent of the world's GDP, the Indo-Pacific serves as the engine of growth and vitality for Japan, the United States, and the world.

The President and I also concurred that the United States and Japan will make further efforts in a wide range of areas, work -- working hand-in-hand together to realize the free and open Indo-Pacific. In this context, we also concurred to further advance cooperation of the multi-layered networks of the like-minded countries, including the Quad, and trilateral cooperation with the Republic of Korea and the Philippines.

We also discussed Japan-United States cooperation to bring about growth and prosperity. Economic cooperation, including on economic security, is important from the perspective of strengthening alliance cooperation. Japan is the closest economic partner of the United States and has been the world's largest investor in the United States for five consecutive years.

Also, with the inauguration of President Trump, the momentum for Japanese companies to invest in the United States is growing even stronger. Today, I conveyed my willingness to cooperate together to elevate Japan's investment in the United States to an unprecedented amount of $1 trillion.

President Trump and myself also concurred to elevate the Japan-U.S. Partnership to an even higher level through improving business environment and increasing bilateral investment in an -- employment, strengthening each other's industries, leading the world in developing advanced technologies, such as A.I., and leading in semiconductors and strongly promoting efforts to harness the energy of the growing (ph) market in the Indo-Pacific region. We also confirmed that the -- we will cooperate to strengthen energy security between the two countries, including increasing exports of United States liquified natural gas to Japan in a mutually beneficial manner.

Regarding foreign exchange, as in the first Trump administration, close discussions will continue between Japanese and the U.S. finance ministers who are experts in this field.

We also held candid discussions on challenges the Indo-Pacific region is facing. We confirmed that we are resolved not to allow unilateral attempts to change the status quo by force or coercion, and to oppose such attempts in the East and South China Seas in order to fully defend a free and open Indo-Pacific.

We also reiterated the importance of peace and stability across the Taiwan Strait.

Regarding North Korea, we affirmed the need to address its nuclear and missile program which poses a serious threat to Japan, the U.S., and beyond, and that Japan and the U.S. will work together toward the complete denuclearization of North Korea.

As the abductees and their families continue to age, I conveyed my strong sense of urgency and determination directly to President Trump and gained his renewed strong support for the immediate resolution of the abductions issue.

[14:35:00]

While this was my first face-to-face meeting with President Trump, we were able to openly and frankly exchange views, and our meeting turned out to be very productive and meaningful.

As a result of today's meeting, which marked a new departure for the Japan-U.S. relations, we are issuing a Japan-U.S. joint leaders statement. This document will serve as a compass (ph) for further cooperation between our two countries. On the basis of these deliverables, I look forward to working together with President Trump, who I respect immensely, to usher in a new golden age of Japan-U.S. relations.

I look forward to welcoming you to Japan, and I am very excited about that prospect. Thank you, Mr. President.

TRUMP: Thank you very much. Thank you.

(APPLAUSE)

TRUMP: Any questions, please? Peter?

QUESTION: President Trump, I have two questions. Do you want us to say today, I love Donald Trump as much as he's free (inaudible). What does the First Lady thing about that? TRUMP: Oh, I think she'll be okay with it somehow.

QUESTION: Yes, yes. So, Democratic lawmakers are really upset. DOGE (inaudible) trillions of dollars each year for everyday American (inaudible) bank accounts. Why do DOGE need all of that?

TRUMP: Well, it doesn't but they get it very easily. I mean, we don't have very good security in our country, and they get it very easily. And what we're doing, if you look at what has just taken place with respect to some of the investments that have been made on another agency that people have been talking about for years, but nobody did anything about it.

It's absolutely obscene, dangerous, bad, very costly. I mean, virtually, every investment made is a con job. There's nothing of value to anybody unless there's a kickback scheme going on, which is possible. And we're going to be doing more and more of that.

We're going to be looking at Department of Education. We're going to be looking at even our military. We're going to be looking at tremendous amounts of money, Peter, being spent on things that bear no relationship to anything and have no value.

We're talking about trillions of dollars. It will be, in the end, trillions of dollars being absolutely wasted and perhaps. illegally. I would say certainly, in many cases, illegally, but perhaps illegally overall.

And I'm very proud of the job that this group of young people, generally young people, but very smart people, they're doing. They're doing it at my insistence. It would be a lot easier not to do it, but we have to take some of these things apart to fight the corruption. We found tremendous corruption.

QUESTION: (Inaudible) Democratic lawmakers get into the department earlier today.

TRUMP: Oh, I see the same ones. I see Maxine Waters, the low life. I see, you know, all these people. They don't -- they don't love our country. They don't love our country. We want great education.

So, they ranked 40 countries in education. We're ranked dead last. Dead last. But the good news is we're number one in one category. You know what that is? Costs per pupil.

We spend more per pupil than any other country in the world. You look at Norway, Denmark, Sweden, various countries all up and down -- Finland. China does very well in education. And then you look at us, we spend much more money than they do per pupil or any other way.

But we spend much more money than they do, and yet we're ranked this year, Biden's last year. Congratulations, Joe. We're ranked dead last. So, what I want to see is education. Number one, I like Choice. We all like Choice.

But beyond Choice, long beyond Choice, I want to see it go back to the states where great states that do so well have no debt. They're operated brilliantly. They'll be as good as Norway or Denmark or Sweden or any of the other highly ranked countries.

They'll be probably have 30 -- I figure 35 to 38 states will be right at the top and the rest will come along. They'll have to come along competitively. And by the way, we'll be spending a lot less money and we'll have great education.

QUESTION: Cutting paper, one of the building engineers was fired for some inappropriate posts. The vice president says, "Bring him back." What do you say?

TRUMP: Well, I don't know about the particular thing, but if the vice president said that -- did you say that? I'm with the vice president. Thank you. Go ahead, please.

[14:40:00]

QUESTION: (Inaudible).

TRUMP: Yeah, go ahead, please. Yes, red dress?

QUESTION: (Inaudible) how far do you want Japan's military to be? And do you specifically hope that their increased military spending will deter China and North Korea? What did you talk about that?

TRUMP: Well, I want our military to be the strongest. I also don't mind spending so much money on the military because we build it here. It's made in the USA. All made in the USA.

We have, you know, I rebuilt our military during my first term, did a great job. We left some of it behind in Afghanistan stupidly. There was no reason for that, but it was still as much as it was. It was billions and billions of dollars, but it was a small part of it.

But we're going to have the strongest military by far. We have great people. I want to congratulate Pete Hegseth for having gone through the gauntlet. He went through a lot, but he got through and he's going to be a tremendous --I have no doubt. He's going to be a tremendous leader.

And other of the leaders sitting here, they're -- on their own fields, they're going to -- we're going to do something very, very, very great and we expect great things. But I expect the strongest military by far in the world, far stronger than China, far stronger than anybody and that's the way it is. Thank you very much.

Would you like to ask a question, please? Go ahead.

QUESTION: Thank you, Mr. President.

TRUMP: Thank you.

QUESTION: This is Hamamoto from Nippon Television. My question to -- let me ask a two quick question.

TRUMP: Sure.

QUESTION: First, this is the first meeting between uh, Mr. President and Prime minister Ishiba. So, what kind of impression do you have on him? And numbers two, do you have an idea or do you have a plan to impose tariff against Japan so far? Thank you.

TRUMP: Well, I think that he is going to be a great prime minister. I think he's a very strong man, very, very strong. I have great respect for him. I've known him for a long time through a reputation.

Since (inaudible) thought the world of him and I think he's going to do a fantastic job as prime minters. A very strong person. I wish he wasn't so strong. I wish he was a little bit weaker than that, but that's what I got. I have to get strong guys all the time. He's going to be a great prime minister.

I also, in terms of tariffs, I mean we're going to have tariffs, mostly reciprocal tariffs where we go with. And I'm going to be probably meeting on that Monday or Tuesday, have an announcement, probably a news conference.

But probably reciprocal tariffs where a country pays so, much, who charges us so much and we do the same, so very reciprocal because I think that's the only fair way to do it, that way nobody's hurt. They charge us, we charge them. It's the same thing. And I seem to be going in that line, as opposed to a flat fee tariff.

Yes, go please go ahead, please. Please, go ahead. Why don't you go ahead?

QUESTION: This is Odda (ph) from Yamirishendo (ph). I have a question for Prime Minister Ishiba. So, this is your very first summit meeting. What was your impression of President Trump? Were you able to build a good relationship or trust and confidence about in northeast Asia?

There are many challenges that China (inaudible). And with the President Trump, what did you appeal to him? And what kind of understanding were you able to take on the economic field?

There is the acquisition of your steel, with the buying of Nippon Steel and there are expansion of import of LNG. What were the communication discussion did you have with President Trump for the $1 trillion of investment from Japan investment? What was his reaction? What about your communication on tariff front?

ISHIBA (THROUGH TRANSLATOR): This is the first time that I met with President Trump in person. So this was the first time meeting face-to- face, but for many, many years, I have watched him on television. So it was quite - so I was so excited to see such a celebrity on the television, to see in person.

On television, he is frightening and he has ...

(LAUGHTER)

ISHIBA (THROUGH TRANSLATOR): ... the very strong personality, but when I met with him, actually, he was very sincere and very powerful, and with strong will for the United States as for the whole world. I was able to feel that.

This is not the sort of (inaudible) or trying to suck up to him.

[14:45:05]

For the world peace and for the reasonable (ph) stability that both of us are (inaudible) need to play our role and make our endeavors in responsibility.

As for the increase of our defense expenditures, it is not that we are told by the United States to do so. Japan, on our own - on our own decision and on our own responsibility, we need to increase our defense expenditures, but of course we need to communicate and consult with the United States. But the responsibility is with Japan and the decision is with Japan.

Now, on the tariffs, that - if it is mutually beneficial, tariffs need to be set. And as for Japan, as Mr. President has introduced to us, an unprecedented investment will be made from Japan to the United States, and so many jobs will be created.

So $1 trillion is the target. And this will be to the benefit of the United States and also to the benefit of Japan as well. Investment is mutually beneficial. So be it with the US Steel, as Mr. President says, it is not acquisition, it is investment.

So the Japanese technology will be provided, and the better quality products will be manufactured in the United States, and the US Steel will make products which will contribute not only to the United States and Japan but also to the whole world. It is not one-sided. It will be reciprocal, it will be mutually beneficial, and I believe we were able to share on this. And that is the biggest result that we - I have seen today.

(CROSSTALK)

QUESTION: Mr. President ...

TRUMP: Thank you very much. Go ahead, please. Yeah.

QUESTION: Thank you, Mr. President. Edward Lawrence from Fox Business. I wanted to ask you about that US Steel deal. So you're saying that - is this a - is this a restructuring of the deal that's happening? And then will you approve ...

TRUMP: We're doing it as an investment, no longer a purchase.

QUESTION: OK.

TRUMP: I didn't want it purchased - I - but investment, I love. And they're going to do a big investment, subject to getting the deal done, and they'll be doing it big. I'm OK with that, sure.

QUESTION: And Mr. Prime Minister, what was your argument to the President related to US Steel?

And one more on tariffs, Mr. President, if I could. You - you said on tariffs that you'd like them to (inaudible) back and forth. What was the reception from the - the Japanese Prime Minister when you said that or when you talked ...

TRUMP: Well, we didn't discuss tariffs so much. We really discussed many other things, including the pipeline in Alaska, which I think is going to be maybe the most exciting thing done (inaudible). We discussed that at length, the pipeline, and it - and it seemed to be of great interest to them.

It's - we have potentially more oil and gas than in Saudi Arabia, just in the last - we have the most of any country in the world. It's a big asset for the United States but we haven't used it. We go to Venezuela, we go to other places to take oil and gas. And we have more than anybody. It's a - an amazing phenomenon that took place over the last four years. Nobody understands it, including the people that were in charge of it. They had no clue what they were doing.

So it was -- it was a big problem. They were surprised, actually, too. They were saying, why -- why didn't they -- they wouldn't sell them LNG. They wouldn't sell it. Japan wanted to buy LNG. And Biden wouldn't sell it. And I'm trying to figure that one out. Maybe it was environment. You might ask -- answer that question. He's curious about that himself, I think.

Thank you very much.

If you want to answer that, you may, about LNG that the United States wouldn't sell you LNG.

ISHIBA (through translator): That was a really unfortunate thing. But the previous administration was not allowing the LNG to be exported to us. I believe that President Trump, on the day of his inauguration, allowed us to resume this importing. I think this is something that is really wonderful for us. And as the country of Japan, we are interested in importing not just LNG, but also bio- ethanol, ammonia, and other resources at a stable price, a reasonable price from the United States.

[14:50:00]

And we also want to improve the trade deficit that the U.S. has towards Japan. So if we are able to buy those at a stable and reasonable price, I think it would be a wonderful situation. And for that, I am very appreciative to President Trump. And we also look forward to LNG and hope that it's a success.

TRUMP: I want to just say that, on the ethanol, Iowa is going to be very happy, all of the -- Nebraska, all of our farm states are going to be very happy. They want ethanol. And we'll be able to provide it. So our farmers, who I like and they like me, I think they're going to be very, very happy.

We've opened the sale of LNG, immediately, actually. We did it a few days ago. And China -- right now, not only China, everybody wants to buy it. We have more than anybody, and they're all buying it, but Japan in particular. We're very happy that they're going to start immediately. And we could supply it to the world but we're supplying it to Japan. And they're always going to be right up in the front of the line.

Yeah, go ahead, please. Go ahead.

QUESTION: Thank you so much. Mr. Prime Minister, I have a question for you as well, but Mr. President, I'll start with you.

Quickly, to follow up on what Peter was asking, have you directed Elon Musk to review Pentagon spending, given it's the - the biggest discretionary spending in the federal budget?

TRUMP: ... education, just about everything. We're going to go through everything, just as -it was so bad with - what we've just went through with this horrible situation we just went through - and I guess 97 percent of the people have been dismissed. It was a very, very unfortunate - you're not going to find anything like that but you're going to find a lot. And I've instructed him to go check out education, to check out the Pentagon, which is the military. And, you know, sadly, you'll find some things that are pretty bad, but I don't think proportionately you're going to see anything like we just saw.

QUESTION: ... FBI has turned over a list to the Justice Department of the FBI agents who worked on the January 6th rioters' cases. Are you planning to fire the FBI agents who worked on those investigations?

TRUMP: No, but I'll fire some of them because some of them were corrupt. I have no doubt about that. I got to know a lot about that business, that world. I got to know a lot about that world. And we had some corrupt agents, and those people are gone or they will be gone, and it'll be done quickly and very surgically.

Did you have a question for the Prime Minister?

QUESTION: (Inaudible).

TRUMP: Talk up.

QUESTION: Are those the ones who (inaudible) January 6th ...

TRUMP: I don't know - I don't know. I know that we have some that are very corrupt and we don't like it. We're going to bring back the reputation of the FBI. Kash Patel is going to do a great job. And we're going to bring back the reputation of the FBI, which has been hurt very badly. It's been devastated over the last four years.

QUESTION: You have just been meeting for the first time with President Trump. The last administration famously did not have hardly any, if at all, contact with North Korea. President Trump certainly did the last time he was in office. Would you like to see him resume that - that contact and also that in-person meeting that he had with the North Korean leader, Kim Jong-un? ISHIBA (THROUGH TRANSLATOR): That is something that the United States needs to determine on its own and it's not something that we should request. Having said that - but, for example, in Vietnam or Singapore, the President of the United States, President Trump, was able to meet with Kim Jong-un. I think that's a very positive development.

So now that President Trump is in power again, if we are able to move towards resolving issues with the - North Korea, I think it would be a - great. And of course, for us, that's - that includes not only denuclearization but also resolving the abductee issue. And so the - not only the - the victims of the abductees but also their families too are aging. And so our time is limited.

So if the President of the United States, if President Trump is able to resolve this issue - we do understand that it's a Japan issue, first and foremost. Having said that, we would love to continue to cooperate with them.

TRUMP: It's - it's actually a good question. And we will have relations with North Korea and with Kim Jong-un. I got along with him very well, as you know. I think I stopped a war. I think if I wouldn't have won that particular election, you would have ended up in that - a very bad - a very bad situation.

[14:55:00]

But I did - and we had a good relationship, and I think it's a very big asset for everybody that I do get along with them. I - I like - I mean, I get along with him, he gets along with me, and that's a good thing, not a bad thing.

And I can tell you that Japan likes the idea because their relationship is not very good with him. And if I can have a relationship with not only him but other people throughout the world where there seem to be difficulties, I think that's a tremendous asset for the world, not just the United States.

Go ahead, (inaudible).

QUESTION: Thank you. I have a question for you and for the Prime Minister as well.

Mr. President, I wonder what you make of the criticisms from Democrats in these staff reductions, the cuts that Elon Musk and DOGE are doing are an unlawful power grab. Is there anything you've told Elon Musk that he cannot touch?

TRUMP: Well, we haven't discussed that much. I'll tell him to go here, go there. He does it. He's got a very capable group of people - very, very - very, very capable. They know what they're doing. They'll ask questions and they'll see immediately, as somebody gets tongue-tied, that they're either crooked or don't know what they're doing. We have very smart people going in.

So I've instructed him going to education, going to military, going to other things as we go along, and they're finding massive amounts of fraud, abuse, waste, all of these things. So - but I - I will pick out a target and I say, "Go in."

There could be areas that we won't, but I - I can - I think everything's fertile. You know, we're a government. We have to be open. And as an open government, I don't know, I guess you could say maybe some high intelligence or something. And I'll do that myself if I have to.

But generally speaking, I'll just say, "Go." But he will be looking at education pretty quickly and he will be looking at military too.

QUESTION: ... bulk of federal spending is Social Security, Medicare, programs like that. Would you like to see him look at those programs as well?

TRUMP: Well, they don't really have to be looked at by him. They could be looked at by us. Social Security will not be touched, it'll only be strengthened.

We have illegal immigrants on Social Security, and we're going to find out who they are and take them out. We have illegal immigrants in other - Medicare, we have - we found a lot of bad people, a lot of people that shouldn't be on that were put on when - through California. They come - a lot of them come out of California. We're not going to stand for that.

So we're going to strengthen our Social Security, et cetera. We're not going to touch it, other than to make it stronger. But we have people that shouldn't be on, and those people, we have to weed out. Most of them - or many of them so far have been illegal immigrants. They shouldn't even be in the country.

Do you have a question for the Prime Minister?

QUESTION: I do. Mr. Prime Minister, the - the President's affinity for tariffs is well known. If the U.S. places tariffs on Japanese imports, would Japan retaliate?

ISHIBA (THROUGH TRANSLATOR): I am unable to respond to a theoretical question. That's the official answer that we have.

(CROSSTALK)

TRUMP: That's a very good answer.

(LAUGHTER)

TRUMP: Very good answer. Wow.

(LAUGHTER)

That's very good. He knows what he's doing.

Thank you very much, everybody. Thank you. Thank you.

(CROSSTALK) BORIS SANCHEZ, CNN HOST: We've been listening to President Trump giving a press conference alongside Japanese Prime Minister Shigeru Ishiba.

A lot of headlines to break down. Perhaps, most notably, this big announcement from President Trump on U.S. Steel. There was this big debate about whether this effort by Nippon Steel of Japan to buy the U.S. Steel company would go through.

Here, the president saying that that would be psychologically not a good concept to have Japan own it. Instead, he says that Japan will invest heavily into the company.

The Japanese prime minister there saying that the Japanese would provide new technology that would help enhance the product that would be good not only for Japan and the United States, but for the world.

The president also making a number of headlines. He was asked specifically about access to sensitive Treasury Department systems and other government agencies, we should note, that host some of the most sensitive information about millions of Americans. We're talking about Social Security numbers, financial information.

It was reported in recent days that these two DOGE employees gained access to it. Very unclear exactly the extent of their access. It was decided in court that at least when it came to the treasury, they would have "read only" access.

The president there was asked about it, but he didn't actually answer the question directly. He kind of flipped it to talk about aid and U.S. investment in agencies. Right?

BRIANNA KEILAR, CNN HOST: That's right. It was sort of a non-sequitur.

SANCHEZ: Yes.

KEILAR: Almost like he was answering a different question he was asked. And he said, why does DOGE need access to that information? He says, "They don't, but they get it easily. They don't have good security in our country."

Which was sort of hard to follow.

SANCHEZ: Yes.

KEILAR: And then he jumped off of that --