Special Coverage: Kevin Warsh’s First Rate Decision as Fed Chairman 6/17/26

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**Kelly Evans** (1:00)
You're listening to The Exchange. Here's today's show...

**SPEAKER_4** (1:04)
.from charging what they say could be fees after the 60-day extension.

**Donald Trump** (1:09)
The thing that's going to stop them from doing that, because you can't cover everything in a document, is common sense. They don't want to get bombed, they don't want to get hit. As far as sanctions are concerned, at some point, you know, we have sanctions which will never let them rebuild. They would have no money, they would be in poverty. The 91 million people would starve.
So something will happen as soon as they behave. When they behave, we're going to let that go. We're going to have to. I put sanctions on a lot of people and then I let them go. A lot of countries. Yeah, please.

**Shinji Abe** (1:40)
Q Thank you, Mr. President. My name is Shinji Abe. I'm a Japanese Yomiri newspaper company from the Washington correspondent. My question is about the Strait of Hormuz.
Did you ask other G7 nations to send military force? What specifically are you asking of Japan?

**Donald Trump** (1:59)
Where are you from?

**Shinji Abe** (2:00)
I'm from Japan.

**Donald Trump** (2:01)
From where?

**Shinji Abe** (2:02)
Japan.

**Donald Trump** (2:05)
I just left for your Prime Minister. Japan is doing very well. She's my biggest fan. I have to tell you, she thinks I did a great job. You have to call her and ask her.
She's doing a very good job, by the way. Go ahead.

**Shinji Abe** (2:18)
And military support is no longer necessary.

**Donald Trump** (2:21)
What do you want to know? Go ahead, just tell me. What do you want to know?

**Shinji Abe** (2:24)
Okay. My question is, did you ask other G7 nations to send military force? And what specifically are you asking of Japan?

**Donald Trump** (2:34)
Send the Air Force? For what?

**Jason Thomas** (2:37)
So, no one would ask any country to send military forces to the street?

**Donald Trump** (2:41)
Oh, other countries, not just Japan? No, no, I don't need, we don't need it. Oh, by the way, they all want to do it. They all want to do it. Every single one of them, they want to go be a part of it now. Not while the war was going on. I was a little disappointed.
The UK, I said, yeah, it would be nice if you sent ships. I didn't put a hard sell on, but I said, yeah, it would be nice if you sent some ships. And the Prime Minister said, they'll be there, sir, as soon as the war is over. I said, did you just say that? I couldn't believe it, actually.
Japan is offered to get involved, but I mean, I'll be honest, Japan was not willing to get involved during the war. I asked her, I said, you want to get involved a little bit? I didn't put the heavy sell on, but they said, no, we don't want to get involved. Nobody did, we did it ourselves, with Israel and with the Arab states that got hit, surprisingly hit.

**Dave McCormick** (3:38)
Yeah.

**Donald Trump** (3:42)
Yes, please, go ahead.

**SPEAKER_9** (3:45)
Thanks a lot, Mr. President. Question on Brazil. I would like to know, how was your interaction here in Evian during the G7 with the Brazilian President Lula?
Did you talk about the new US tariffs on Brazil? Did you talk about the US designation of criminal gangs as terrorists?

**Donald Trump** (4:07)
We did.

**SPEAKER_9** (4:07)
How was it?

**Donald Trump** (4:08)
I spent a lot of time with him, actually.
It's become a little rough country, right? Politically, it's been a little dangerous politically. You're talking about Brazil, yeah? It's been nasty. I hear they arrested somebody that's running for office today. I found that out after we left. I just said goodbye to him, and I heard that they arrested the Bolsonaro Jr. who was doing well in the polls, and they arrested him because he made a statement in Texas. They arrested him, or they want to arrest him. They have something out. If there's an arrest, they play pretty tough, but nobody plays tougher than the United States. Look, our elections are totally rigged. We have rigged elections.