In-Town Pool Report 3

From: Sam Fleming []
Sent: Friday, March 31, 2017 12:33 PM
Subject: In-Town Pool Report 3

The pool were escorted to the Roosevelt room just after 11am where corporate members of the National Association of Manufacturers were gathered, sitting around a table. Potus entered and sat down at the table: among others sitting at the table were Mike Pence and Stephen Miller.

Potus opened by saying “We have some really good news today – that’s really fantastic – these numbers” in a reference to a new survey by the NAM of its members. “Today I am delighted to welcome the National Association of Manufacturers to the White House. “It is a great group of people. I know many of them well.” He thanked Jay Timmons, the NAM CEO and president, who was sitting alongside him. “great job, Jay.”

Potus continued: “My administration is working every day to make it easier for manufacturers to build, hire and grow in America. We are removing job killing regulations and lifting the burdens on American industry like I would say have never been lifted before. We have done a lot of work over the last 60, 70 days and I think you are seeing some real production. We can say this Mike, like never before.

Potus noted that earlier in the week he had signed an executive order to end the “war on coal.” President Trump recalled an “amazing scene” with coal miners in attendance who were “very tough very strong very powerful men, they were crying actually. They were crying with happiness.”

President Trump noted a taskforce had been created in every agency to eliminate “wasteful regulations” and that later today at 330pm, with Commerce Secretary Wilbur Ross, "We are signing two very powerful executive orders”. “It will be something very important, very very special.”

Potus said one reason for the meeting was to announce the “extraordinary results of a new survey from the National Association of Manufacturers. The survey shows that 93 per cent of manufacturers now have a positive outlook on the future of their business in this country. 93. And it was just a few months ago 56. That is a slight difference” Mr Trump noted, triggering applause. “That is a 20 year record high”. Potus said that maybe NAM president Jay Timmons could come back next month, adding to laughter “I don’t know how much higher it can go”.

“So I am very proud of that. We are all very proud of that,” he added, saying manufacturers were "starting to invest big money.” He went on: “It is a new surge in optimism that is sweeping all across our land. These survey results are a further vote of confidence in our plan to bring back jobs, lower taxes and provide a level playing field for our workers. The manufacturing companies…represented here today are just an extraordinary group of people, they are leaders, they are brilliant in so many ways. The field has not been a level field. Jobs have been leaving our country, going to China and Mexico and lots of other places.”

Potus noted that the president of China was soon to come for a “big meeting at Mar A Lago”, which he called “the southern White House, which it actually is. It was originally built as the southern White House – a lot of people don’t know [that]…strange how it got there”.

On the China meeting he said: “It is going to be something that is very important, very special, I look very much forward to meeting him and the delegation. And we will see what happens.”

Referring back to the manufacturers, Potus said :I am very, very proud of what you have been able to do in a short period of time… the optimism is so high.” He added: “I see the billions of dollars that are being invested by your people and your representatives in plant and equipment and jobs and I appreciate that”.

Jay Timmons of NAM responded, noting that the quarterly survey of NAM members showed the highest level of optimism in 20 years.

Potus then went around the table, inviting individual manufacturers to give brief remarks. Among the highlights, Ed Paradowski, of Apache Stainless Equipment Corp of Beaver Dam, Wisconsin,  spoke about his business, prompting the president to note “I love the state of Wisconsin”, and calling his result there a “little bit of an upset”, prompting laughter, and adding “we don’t consider it that”.

Joe Eddy, of Eagle Manufacturing Co, said he brought “a major thank-you” from West Virginia for what the president had done on coal, prompting Potus to say: “Great state, great people…nobody thought we would act that fast.” Mr Eddy said “you have created new hope.”

Doug Magyari of IMMY Inc, based in a suburb of Detroit MI, said his company had made a commitment to manufacture in the US and that he appreciated what President Trump was doing to facilitate that. Potus said “we have a lot of plants going up now in Michigan that were never going to be there. If I didn’t win this election those plants would never even think about coming back. They were gone.” He then asked Mr Magyari if he had been thinking of “getting out”, and Mr Magyari said “I wouldn’t abandon the United States under any circumstances” but he said that Michigan had had a “rough go” and that the things that Potus was doing and a lot of initiatives were “really bringing Michigan back”.

Mr Trump declined to comment at the end of the meeting when asked about Mike Flynn and about the border adjusted tax plans of House speaker Paul Ryan.


Sam Fleming
US Economics Editor
Financial Times
Office: +xxx-xxx-xxxx
Cell: +xxx-xxx-xxxx
1023 15th St NW, Suite 700, Washington, DC 20005


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