-- lots of yard work.
[Crosstalk]
Yeah, I've got a few minutes. I've got a 9:00, so I can't take too long.
Can I ask you what the --
I told you we could he have.
Oh, sorry.
Yeah. [Laughter]
Can I ask you what the president meant when he said that he'll be watching Walmart? What's the -- what's the message to corporate America. There?
Well, I think the -- the tariff policy, uh, is been -- has been very successful in the sense that we've raised $20 billion in revenue last month. And the Consumer Price Index went down. Inflation actually got closer to target. But depending on supply and demand elasticities for each product, I guess the answer could go one way or the other.
But one thing we're highly confident in is that real wages are going to grow. And people -- so the people go into Walmart are going to have a lot more money in their pockets. In fact, we have a new study out from the Council of Economic Advisers that highlights just how much real wage growth there's going to be because of these policies.
And so uh, their -- there's some uncertainty. We're going to watch it very, very closely about how this ends over the next two or three months when the tariff rates get set. But also, don't forget, it's not a measure of inflation that to the extent there was a price change that it's just a onetime level adjust based on whatever the incidence of the tariff is.
[Crosstalk]
When did -- do you think -- What is the economy, right now, in the US?
I'm sorry. You were -- you were the next one that I -- yeah.
Just how closely the White House watching the bond market this morning when we saw the 30 --
Well, yeah, the -- I think that American bonds are the best buy in the world. And they're going to be an even better buy once all of our policies are in place. And this downgrade is something that happened because of the runaway spending of the previous administration. They were the last agency to move. And I don't think it should be a surprise to markets.
[Crosstalk]
And just very quickly, on reconciliation, would the White House support moving up the work requirements when it comes to Medicaid?
We support what it takes to get the bill through.
[Crosstalk]
I'll let you -- I'll let you guys -- I'll try to get to everybody.
[Crosstalk]
Can you say it again, please?
What's the -- the health of the economy right now in the -- in the US? What are going to see you like --
We've got low inflation almost at target. We've got jobs numbers that have been way above expectations. We had core GDP of about three percent growth. We had a capital spending boom in the first quarter, which is something that's really kind of unprecedented. You've never seen equipment investment growth that high anywhere close to a recession.
So I think that the onshoring of American production is something that has been the top priority of the president. And it's quite visible in the data already.
Can you -- on the trade deal negotiations with India, what are the key elements left now?
Oh, I have to leave that to the negotiators as I'm not negotiating with India.
[Crosstalk]
President was going to announce trade deals when he returned from his trip. Can you offer a preview of what countries are close to getting --
I'm sure the president has lots of stuff on his desk and he's going to decide what's good enough and what's not. And we'll find out this week which deals he wants to announce.
You -- you -- you told us even before Liberation Day that you had 15 countries that were on the brink of making a deal.
Yeah --
It's been nearly two months, and you've had one deal. So what is the holdup on the other -- [Laughter]
No, there's been -- there's a whole bunch of deals, but uh, yeah --
Oh, I'm sorry, with what country?
Well, I mean, so you don't think that the deal with China counts as a deal or the deal with the UK. Uh, we've got like an agreement in principle with India --
[Crosstalk]
But anyway, they're -- they are -- uh, everybody, you can talk to Jamieson Greer, uh, Scott Bessent, Howard Lutnick, everybody has seen awesome deals that are on the table.
But you know, last week we were in the Middle East cutting trillions of dollars of deals with our Middle Eastern friends. And now we're closing the trade deals --
[Crosstalk]
No, I understand --
With regard to --
Now we're closing the trade deals because -- because the president's back in the country. So, I've got time for one more question.
Tom Dempsey with NewsNation. How important is it for the one big, beautiful bill to get over the finish line for the economy? And what do you say to some of the concerns that some Republicans are raising with it?
Oh, I think everybody should just go read the Council of Economic Advisers report about the growth effects. Uh, it's based on the same kind of models that we used in 2017. And we pretty much nailed those growth picks got everything right within a 10th or two. And so I think -- I think there's a lot of academic, scientific credibility to the work that they're doing that says that we're going to have really high GDP growth, really high rates growth, low inflation from the supply side effects of the policies.
So thanks everybody. I got to run to a 9:00.
OK, what's your message to Republicans who oppose the --