President Trump’s full remarks on NAFTA, TPP in CNBC interview

President Donald Trump talked to CNBC’s Joe Kernen coming from the earth Economic Forum in Switzerland on Thursday.

inside interview, Trump said he could rethink the massive Trans-Pacific Partnership trade agreement, however only if the United States got a better deal. He also said the U.S. had a “Great chance” to renegotiate the North American Free Trade Agreement, however said he could still terminate the deal.

Trump: I like bilateral, because if you have a problem, you terminate. When you’re in with many countries — like with TPP, so you have 12 if we were in — you don’t have that will same, you know you don’t have that will same option. however somebody asked me the different day, ‘might I do TPP?’ Here’s my answer — I will give you a big story. I might do TPP if we made a much better deal than we had. We had a horrible deal. The deal was a horrible deal. NAFTA’s a horrible deal, we’re renegotiating that will. I may terminate NAFTA, I may not — we’ll see what happens. however NAFTA was a — along with I went around along with I tell stadiums full of people, I’ll terminate or renegotiate.

Kernen: So you might re-enter, or? Are you opening up the door to re-opening TPP, or?

Trump: I’m only saying This kind of. I might do TPP if we were able to make a substantially better deal. The deal was terrible, the way that will was structured was terrible. If we did a substantially better deal, I might be open to TPP.

Kernen: that will’s interesting. might you handicap … ?

Trump: Are you surprised to hear me say that will?

Kernen: I am a little bit, yeah, I’m a little taken aback.

Trump: Don’t be surprised, no, however we have to make a better deal. The deal was a bad deal, like the Iran deal will be a bad deal, these are bad deals.

Kernen: Maybe NAFTA, maybe not NAFTA, can you give me any indication of which way you’re leaning because there’s a lot of people, a lot of the CEOs that will have been on here, they all seem to acknowledge that will that will’s 30 years later along with there’s a lot of adjustments that will make a lot of sense, however to not abandon the deal. Will you —

Trump: Hey Joe, we have a trade deficit with Mexico. Mexico, $71 billion a year, right? We have a trade deficit with Canada of a substantial amount of money. I have a number, however they keep arguing that will, they keep saying, so I won’t say that will, I won’t tell you that will’s $17 million, OK? We have a trade deficit with Canada. We have a massive trade deficit with Mexico. We’ve got to do something. We can’t continue to do This kind of.

Kernen: Are you leaning towards staying in or might you definitely go out completely?

Trump: I’ve always said … during campaign along with as you have noticed, along with as you have actually said a couple of times which I have always appreciated, I have fulfilled a lot of what I’ve said along with I’m only here a year, you know I think I have four years, along with maybe another four years, OK? … Joe, we have a $71 billion a year deficit with Mexico. We’ve got to do something, we can’t have that will. So, will that will be renegotiated? We’re trying right currently with [U.S. Trade Representative] Bob Lighthizer along with the whole group. I think we have a Great chance however we’ll see what happens.

Later inside interview, he returned to the topic of trade when discussing the strength of the dollar.

Trump: however ultimately the dollar, because our country will be going to get so much stronger economically, if you look at what’s happened to our country over the — look, I’ve been talking about This kind of with you for 25 years. Trade. that will commenced with Japan, morphed into China, currently that will’s China, Japan, that will’s everybody. along with everybody has taken advantage of our country. They have ripped our country off. You look at what they do. I saw something on motorcycles today which has a certain country. Why should I say? however they sell motorcycles into our country, no tax. We sell motorcycles into their country — Harley-Davidsons, the greatest, right? We sell them into their country, 100 percent tax. Not going to happen.

The word “reciprocal” will be the most important word with Donald Trump when that will comes to what the subject that will we talk about along with the subject that will CNBC covers so well — especially you, by the way, because I don’t agree with all of you people, however that will’s OK. however reciprocal. I want reciprocal. If they’re going to charge us 100 percent for a motorcycle, that will should be 100 percent the different way, too. along with you know, when you mention a tax at the border, a 10 percent tax on the border for everything coming in, I’m a free trader. Totally. I’m a fair trader. I’m all kinds of trader, however I want reciprocal. Because when China’s charging us a fortune to send products in along with doing that will impossible for the product to get there — along with many different countries, by the way, not just China. China’s the biggest. along with then we charge them nothing to sell their stuff here. that will’s not fair. When you use the word “reciprocal” everybody understands that will. If they do that will to you, you do that will to them along with everybody understands that will, Joe. along with you’re going to see a lot of that will in my administration. along with you’re already seeing that will.

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