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Home » Transcript of President Trump Holds Cabinet meeting (April 10, 2025)

Transcript of President Trump Holds Cabinet meeting (April 10, 2025)

Read the full transcript of President Trump held a cabinet meeting after announcing a 90 day tariff delay. Cabinet members spoke about the progress made achieving President Trump’s agenda.

Opening Remarks

PRESIDENT TRUMP: Thank you very much. We had a very good meeting. We’re talking about a lot of different things. Consumer prices have actually dropped.

There’s very little inflation. Everybody predicted a lot of inflation, very little inflation. Energy costs are down. Interest rates are probably down. They scatter, but they’re probably down. Prescription drug prices are even to down. We’re doing very well. It’s been amazing. We had a big day yesterday. There will always be transition difficulty, but we had the biggest day in history, the markets.

So, we’re very happy with the way the country is running. We’re trying to get the world to treat us fairly. This is something that should have been done twenty-five years ago, and it wasn’t. It should have been done forty years ago, and it wasn’t. But no president was willing to take it on, but you had to.

It’s not sustainable. It wasn’t sustainable. As you know, without a lot of money being added, which is a lot of money that we could add, the country is making approximately $2 billion a day. And when you think of it, that’s we’ve never done that before, never come close to it. And the number is probably $3,500,000,000 a day.

And that makes us a very strong country. But we have Scott here and Howard and some of the people that are working on deals. And the biggest problem they have is they don’t have enough time in the day. Everybody wants to come and make a deal. And we’re working with a lot of different countries, and it’s all going to work out very well.

I think it’s going to work out really very well. But we’re in good shape. There’s no inflation. There’s very little inflation. And I went four years without inflation.

And with tariffs, I took in hundreds of billions of dollars from China and others, taxes in China. But we took in hundreds of billions of dollars a year from China and we had no inflation essentially. So, we think we’re in very good shape. We think we’re doing very well. Again, there’ll be transition costs and transition problems.

But in the end, it’s going to be a beautiful thing. We’re doing again what we should have done many years ago. We’re not letting it get out of control. And we allowed some countries to get very big and very rich at our expense, and I’m not going to let that happen. It’s not a sustainable formula.

So, I want to just thank everybody at the table and maybe I’ll go around and ask some of you a little short couple of answers. Pete just got back from Panama and he’s been all over the place. And you want to give us a little report on that and whatever else you might have to say? Everyone at this table is doing an incredible job, by the way, I have to say incredible. And the relationships are it’s like they’re friends.

The relationships are very strong, really good, really strong. And these meetings are very good. I think having I don’t believe there’s any other President that allowed the press to come into meetings such as these are very sacred meetings. These are very private meetings, but we have nothing to hide. And I think it’s good.

I think it’s a good we want to be a word you like to use, Jeff, is transparent. So we want to be transparent, and we’ll do that by starting with Pete. Go ahead, Pete.

Cabinet Member Reports

PETE HEGSETH: Yes, Mr. President. We just got back from Panama last night. We were at the Panama Canal with their self-commanderships, F-18s troops, and signed a couple of historic deals. One which is with the Panama Canal authority, a framework for U.S. Vessels first and free through the Panama Canal.

And then also a memorandum of understanding with their Security Minister for the presence of U.S. Troops, Fort Sherman, an old U.S. Base there, as well as their naval station and air station jointly with Panama to secure the Panama Canal from Chinese influence.

That’s something you said we’re taking back the canal. China’s had too much influence. Obama and others let them creep in. We, along with Panama, are pushing them out. So we had a very successful trip there. President Mulino sends his regards very complimentary of the US as he’s a great ally.

And I think he they want the communist Chinese out. And with our troops there partnering with their forces, we’ve got a chance to push them all the way out. We’ve moved a lot of troops to Panama and filled up some areas that we used to have and we didn’t have any longer, but we have them now. And I think it’s in very good control, Sir.

PRESIDENT TRUMP: Okay. Thank you, Pete. Very good. Howard?

HOWARD LUTNICK: So, we have so many countries to talk to. It’s incredible. I think Scott and I, I’m not sure we could ever have enough time in the day to talk to all these countries because they want to talk and they want to talk now. And they have come with offers that they never ever, ever would have come with but for the moves that the President has made demanding that people treat the United States with respect. We’re getting the respect we deserve now. And I think you’re going to see historic yields one after the other.

And then I’m very excited that within a week and a half, we’re going to start with the Gold Card. And the Trump Card is coming out, and we’re very excited about that. And that’s coming soon. So, very excited. Thank you very much.

PRESIDENT TRUMP: Good job.