Trump claims successful trade deals

The president discusses companies coming back to the U.S., replacing the NAFTA trade deal and a strengthening relationship with China.
7:30 | 02/05/20

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Transcript for Trump claims successful trade deals
Thanks to our both regulatory reduction campaign. The United States has become the number one producer of oil and natural gas anywhere in the world. Okay. And I. It's a tremendous progress we have made over the past three years. America is now energy independence and energy jobs like so many other elements of our country. Are at a record high. We are doing numbers that no one would have thought possible just three years ago. Likewise we are restoring our nation's manufacturing. Might. Even though predictions war as you all know that this could never ever be done. After losing 60000. Factories under the previous two administrations. America has now gained. 121000. New factories under my administration. With thousands upon thousands of plants and factories. Being planned or being built. I. Companies are not believing. They are coming back to. To the USA. Okay. The fact is set everybody wants to be where the action is in the United States of America is indeed the place where the action is. One of the biggest promises I made to the American people. Was to replace the disasters NAFTA and trade deal. It. In fact unfair trade is perhaps the single biggest reason that I decided to run for precedent. Following nafta's adoption. Our nation lost one in four manufacturing jobs. Many politicians came and went pledging to change or replace NAFTA. Only to do so. And then absolutely. Nothing happened. But unlike so many who came before me I keep my promises we did our job. It. Six days ago I replaced NAFTA. And signed a brand new US Mexico Canada agreement into law. The US MCA will create nearly 100000. New high paying American auto jobs. And massively boost exports for our farmers ranchers and factory workers. It will also bring trade with Mexico and cannons to a much higher level. But also to be a much grated degree of fairness and reciprocity we will have that fairness and rests upon reciprocity. And I say that finally because it's been many many years. That week were treated fairly on trade. This is the first major trade deal and many years to earned the strong backing of America's labor unions. And I also promise for our citizens that I would impose tariffs to confront China's massive theft. Of America's jobs. Our strategy has worked. Days ago we signed a groundbreaking new agreement with China. That will defend our workers protect our intellectual property bring billions and billions of dollars into our treasury. And open vast new markets for products made and groaned. Right here in the US today. For decades China has taken advantage of the United States. Now we have changed that. But at the same time we have perhaps the best relationship. We've ever had with China. Including width president she. They respect what we've done because quite frankly they could never really believed that they were able to get away. With what they were doing year after year decade after decade without someone in our country stepping up. And seeing. That's enough. Now we want to rebuild. Our country and that's exactly what we're doing we are rebuilding our country. As we re still. American leadership throughout the world. We are once again standing up for freedom in our hemisphere's. That's why my administration. Reverse the failing policies. Of the previous administration. Won't Cuba. We're supporting the hopes soon Cubans nicaraguans and grabbed venezuelans to restore democracy the United States is leading. And 59 nation diplomatic coalition against these socialist dictator Venezuelan. Nicholas Madieu. Legitimate. A tyrant who brutalize his his people but Missouri is gripped frontier earning will be smashed and broken. Here this evening. Some very brave man. Who carries with him the hopes dreams and aspirations. Of all venezuelans. Joining us in the gallery is the true and legitimate president of Venezuela who want light you know. The. A thank you Mr. President. Read on thank you very much and. Please take his message back that all Americans are united with the Venezuelan people in their righteous struggle. For freedom thank you very much.

This transcript has been automatically generated and may not be 100% accurate.

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