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Interview: Trace Gallagher of Fox News Interviews Donald Trump in Los Angeles - August 4, 2026

12:00 PM
Trace Gallagher 00:00:00-00:00:09 (10 sec)

There was a threat. There was a man who was arrested, seemed to be heavily armed, near the property here on Sunday. Is it, it's an ongoing concern, sir. Talk about that briefly if you can.

Donald Trump 00:00:09-00:00:26 (16 sec)

Well, the only thing I get a little solace from is they say only consequential presidents. And I am definitely consequential. I mean, if you look at the economy, if you look at what's happening, Iran, as an example, will never have a nuclear weapon. They already can't, but, you know, it's going to be formal.

Donald Trump 00:00:26-00:00:44 (19 sec)

The strait's going to be open very soon, or they're going to get hit very hard, and then the strait's going to be open. We were going through a tremendous attack, the biggest since World War II, and they called me and said very politely, "Please, can we talk? Can we talk?" They didn't want. And I said, "Yes, we can talk.

Donald Trump 00:00:44-00:01:04 (20 sec)

Let's get it done. Finally, let's get it done." This should have been done by other presidents for 50 years. You know, you keep hearing 47, but that's been for three years now. It's been over 50 years. Other presidents or other countries should have been able to do this. And I did something that I had to do because if they had a nuclear weapon, this whole world would be a different place.

Trace Gallagher 00:01:04-00:01:06 (2 sec)

If they back out again, are they done?

Donald Trump 00:01:06-00:01:27 (21 sec)

Well, if they back out again, they're going to get hit really hard. They know that. They understand that. I have no choice. They can't have a nuclear weapon. It's very simple. It's not like, "Gee, let's, you know, think about something else." No, it should have been done by many presidents over many years, and it wasn't. And I'm doing it. Obama was taken to the cleaners.

Donald Trump 00:01:27-00:01:47 (20 sec)

He thought he could bribe his way out. He gave them billions, tens of billions of dollars so stupidly, $1.7 billion in cash, green cash on a Boeing 757, an airplane loaded up with cash. They probably looked at it, they said, "You got to be kidding." No, you can't bribe your way out. All you can do is fight your way out.

Donald Trump 00:01:47-00:02:03 (17 sec)

And if they didn't, they wouldn't be talking if we weren't doing what we're doing. We hit them very, very hard, but the hard hit is yet to come, and hopefully we won't have to use it. I hope we won't have to. We're having very good discussions. They don't like to admit that, but it's a little bit disconcerting.

Donald Trump 00:02:03-00:02:20 (17 sec)

You tell people like you, "We're having wonderful discussions," and then some guy will come out of Iran and say, "We have not met. We have not", just lie all day long, you understand. It's just incredible. We didn't, they'll say, "We didn't talk about nuclear." Well, what did we talk about? We're sitting there twiddling our thumbs, right?

Donald Trump 00:02:20-00:02:31 (11 sec)

So, but it doesn't matter. That's talk. The only thing that matters is action. And they want to make a deal. We'll see what happens. If they don't make a deal, it's going to be too bad.

Note 00:02:31-00:02:31 ( sec)

[Commercial break]

Trace Gallagher 00:02:31-00:02:51 (20 sec)

Sir, thank you for doing this for us. We very much appreciate this. One of the big stories of the day, and we'll talk about the markets. The markets were way up today, but one of the big stories, of course, is the primaries in Michigan specifically, where it looks like Abdul El-Sayed is going to win, has a very good chance to win that Senate race, at least his primary race.

Trace Gallagher 00:02:51-00:02:58 (7 sec)

What do you think about the traction these, these candidates who are backed by the DSA and members of the DSA are getting?

Donald Trump 00:02:58-00:03:16 (18 sec)

Well, I think it's crazy because they're going to ruin our country. I don't know if they want to. I think either they're very naive or they actually want to ruin the country. No matter where you look, go back a thousand years with different names, anybody doing what they're doing and what they're espousing, everything turns out to ashes and junk and filth.

Donald Trump 00:03:16-00:03:31 (15 sec)

You know, one thing I said the other day for the first time ever, never thought of it, but you go to these cities that are taken over by the socialists and the communists, they're always filthy dirty, they're disgusting. They're always dirty. And, you know, I'm a clean person, and people I know are clean.

Donald Trump 00:03:31-00:03:55 (24 sec)

They like to, and you are. I know you very well. You're very clean. But these, aside from crime, aside from all of the other problems, no jobs, no anything, no money, they're always filthy, disgusting, dirty. And that's what you'll get. You know, I won Michigan. I did great in Michigan. And we should win, we have a man, Mike Rogers is going to be fantastic.

Donald Trump 00:03:55-00:04:04 (9 sec)

I'm not a big believer in polls, but I believe in him somewhat. And based on the polls, he'll do much better against Abdul than he's going to do against the congresswoman.

Trace Gallagher 00:04:04-00:04:25 (20 sec)

Do you think, sir, that that the Republican Party is hitting home the facts that these people literally want to open up the prisons? They want to privatize, they literally want to get rid of private insurance. They want Medicare for all, which means private insurance for none. Are they hammering that home so people get an idea of how radical these agendas are?

Donald Trump 00:04:25-00:04:48 (23 sec)

Well, outside of you and people that happen to be in FOX and a few others, they don't talk about it, really. They don't. You turn on NBC fake news or ABC, which is the worst of all, or CBS or CNN, any of them, they don't talk about that. They talk about as positive as you can talk, which isn't easy to do. But they don't talk about the consequences, because it's all about the consequences.

Donald Trump 00:04:48-00:05:04 (17 sec)

And a guy like this is just, look at his views, and then they change the views for the election. Now, they're actually having to go a little bit right, which is very hard for them to do. But it's a very sad thing when you look at it. And as far as the Republicans, look, the Republicans talk about it. It's not put on, but they've got to get tougher.

Donald Trump 00:05:04-00:05:22 (18 sec)

They've got to talk. And they've got to talk about how well we're doing. I watched Laura before, and she was saying, this is the most incredible. She's giving the numbers, the financial numbers of the trade numbers that just came out today. Our trade deficit is way down. There's never been anything. It's never gone down in history like it has during this a little bit more than a year.

Donald Trump 00:05:22-00:05:42 (19 sec)

Think of that. And she was going over just point after point. I'm saying, how many people report this? People don't know. In the economy, Trump is at 42 percent. I shouldn't be at, we have the greatest economy maybe in the history of the world for any country. We have $19.2 trillion being invested in the United States.

Donald Trump 00:05:42-00:05:51 (9 sec)

And if I wouldn't have won, you would have had $10 trillion being taken out of the United States and your welfare would have doubled and tripled and we would have had a bankrupt --

Note 00:05:51-00:05:51 ( sec)

[Commercial break]

Trace Gallagher 00:05:51-00:05:56 (5 sec)

You touched on Iran. They're, you know, it's got to feel like Groundhog Day to you. So I mean, they're in.

Donald Trump 00:05:56-00:05:57 ( sec)

Agreed.

Trace Gallagher 00:05:57-00:06:03 (6 sec)

They want a deal. The deal's off. I mean, at what point do you say enough, and there's no coming back for Iran?

Donald Trump 00:06:03-00:06:26 (23 sec)

Well, I, I have plenty of time. You know, people talk about the midterms. For the midterms, they want to see winning. You know, in Venezuela, we, oh, people were so opposed to what I did in Venezuela. It lasted one day. And now, they, look, we're making hundreds of billions of dollars, and so are they. They're getting Venezuela is like a different place, but we're taking out hundreds of billions of dollars.

Donald Trump 00:06:26-00:06:50 (24 sec)

They're taking out hundreds of billions of dollars. It's a different place. It's actually becoming, I mean, they had the tragedy the other day with the problem, as you know, but that was a terrible problem. The earthquake, I guess you'd call it, it was a bad one. But outside of that, they have a country that is a very happy country again, but we are, we paid for the cost of that war many, many times over.

Donald Trump 00:06:50-00:07:08 (18 sec)

Where have you heard that? But everybody was against it. And then when I won, they all think it was great. But nobody talks about it anymore, so I have to talk about it. Nobody talks about the fact that we have the safest border in history. And I probably got elected partially, at least in big part, because of the fact that the border was so bad.

Donald Trump 00:07:08-00:07:25 (17 sec)

Twenty-five million people, you know, people say 14, it's only 19, or it's only 22, it's 25 million people, probably, it's probably more than that. They came pouring into our, totally unchecked and unvetted, pouring into our country. And many of these people are not the people you want in our country. We have drug lords.

Donald Trump 00:07:25-00:07:45 (20 sec)

We have people from, many people, millions of people from prisons, 11,000, you've heard me say it, 888 murderers, most of whom or many of whom committed more than one murder. We're getting them all out. We've got so many of them out. We're doing such a good job, but with the hardest thing we inherited, we inherited the worst inflation in the history of our country.

Donald Trump 00:07:45-00:07:59 (14 sec)

But the worst thing we inherited was the fact that Biden allowed 25 million people, they would not have qualified, many of them, most of them, but many of them, to come into the country. And we're getting them out.

Trace Gallagher 00:07:59-00:08:16 (17 sec)

Why is it you think that nobody is talking about the fentanyl deaths? The fentanyl deaths have come way down since the border has closed. It should be one of those prime topics because we have saved tens of thousands of lives in the short period. You look at the numbers from just a couple of years ago, they have come down dramatically.

Trace Gallagher 00:08:16-00:08:17 (1 sec)

It doesn't seem to be a topic.

Donald Trump 00:08:17-00:08:25 (8 sec)

Sixty-eight percent? I'll tell you what, by sea, by ocean, 97.2 percent, 97 percent.

Trace Gallagher 00:08:25-00:08:26 (1 sec)

Yeah.

Donald Trump 00:08:26-00:08:42 (17 sec)

Now you've seen the pictures of the boats and it's all horrible, but when you think that each time you knock out a boat you're saving 10,000 people, more than that probably, they say 25,000. You know, they're carrying massive amounts of fentanyl. And that's an occupation that's very hard to fill right now.

Donald Trump 00:08:42-00:09:02 (20 sec)

Nobody does it. Nobody would have done what I did. But we're down over 97 percent in drugs coming in by sea. And now we've started a very heavy push for drugs coming in by land, which actually comes through Mexico, which is actually much easier. The land is, the sea is the hardest, but we have a solution to that.

Donald Trump 00:09:02-00:09:28 (26 sec)

Nobody's, I mean, basically, they can't do it anymore. They don't get away with it. We know every boat that's coming in. We know who it is and what's on that boat, and it's largely fentanyl and other really bad drugs. So we're down 97 percent, but we're down, the numbers on fentanyl, if you would have said that you were going to do that, nobody would believe it. They say it's just a politician talking, much higher than anybody ever thought was even possible.

Donald Trump 00:09:28-00:09:38 (10 sec)

People thought if we could get it down two or three percent, it would be good. We got it down 67, 68 percent. Nobody's seen it. And that's why your fentanyl numbers look so good.

Note 00:09:38-00:09:38 ( sec)

[Commercial break]

Trace Gallagher 00:09:38-00:09:45 (7 sec)

The markets were way up today. You had oil coming down to $75 a barrel. It was in the high 60s before the war started.

Donald Trump 00:09:45-00:09:45 ( sec)

Right.

Trace Gallagher 00:09:45-00:09:47 (2 sec)

Yet gas is still 30 percent higher --

Donald Trump 00:09:47-00:09:48 ( sec)

Yeah.

Trace Gallagher 00:09:48-00:09:54 (6 sec)

-- than it was, $6.27 here in California I paid yesterday. It's --

Donald Trump 00:09:54-00:09:55 (1 sec)

It's a little different thing --

Trace Gallagher 00:09:55-00:09:55 ( sec)

Right.

Donald Trump 00:09:55-00:10:14 (19 sec)

-- because they charge taxes on gas. Every time, every time it goes down, they take taxes. I mean, they've done a terrible job in California. But I think we're going to have it coming down. The oil companies have to start going. You know, they're making too much money, and they've got to start lowering it. But we're going to be down into the threes and maybe the twos pretty soon per gallon.

Donald Trump 00:10:14-00:10:33 (18 sec)

We'll see what happens with the war. We have a very good day today. They don't like to say that. The Iranians, they always like to say, we didn't discuss that. We didn't, people have found out, that's not true. They had an all-day negotiation today, and it looks like things are very good. And if that happens with the strait is opened up, they'll never have a nuclear weapon.

Donald Trump 00:10:33-00:10:48 (15 sec)

But if the strait opens up and it's partially opened anyway, and as you know, we control the strait totally through the blockade. But if we have no friction, then oil will go down to, I think it'll go down to two and a half dollars a gallon, two and a half dollars.

Trace Gallagher 00:10:48-00:10:48 ( sec)

Uh-huh.

Donald Trump 00:10:48-00:11:11 (23 sec)

You know, it was down to $1.85 before I had to make this little journey to the Islamic Republic of Iran. I had to make it. We had the best numbers that anybody's ever seen. But now you take a look with that going on, you just hit today I think it's number 79, 79 days. We hit an all time stock market high.

Trace Gallagher 00:11:11-00:11:12 (1 sec)

Yup.

Donald Trump 00:11:12-00:11:17 (4 sec)

401ks are the highest they've ever been by double and triple.

Trace Gallagher 00:11:17-00:11:17 ( sec)

Yeah.

Donald Trump 00:11:17-00:11:37 (20 sec)

And then I read where we're doing badly on the economy. Just, by the way, job numbers. We have more people working in the United States today than ever in history. We're doing an unbelievable job. Costs are coming way down. I inherited, you know, they talk about costs. I inherited very, very high costs, and they're all coming down now.

Donald Trump 00:11:37-00:11:47 (10 sec)

The food, the groceries, it's all coming down. We've done a great job. You know, I think we should be given an A-plus on the economy, but I think that's coming. People are starting to talk about it.

Trace Gallagher 00:11:47-00:11:52 (5 sec)

I'm wondering, sir, I wanted to ask you about A.I. As the president, you know, everybody is, everybody wants A.I.

Donald Trump 00:11:52-00:11:52 ( sec)

Yeah.

Trace Gallagher 00:11:52-00:11:59 (6 sec)

But everybody's scared of it, right? Nobody wants the A.I. data centers in their backyard, but nobody wants China to have them either.

Donald Trump 00:11:59-00:11:59 ( sec)

Yeah.

Trace Gallagher 00:11:59-00:12:02 (3 sec)

How do you navigate that as the president of the United States?

Donald Trump 00:12:02-00:12:30 (29 sec)

Well, a big part of it is China. Look, whoever wins the A.I. race is going to win A.I. It's bigger than the Internet. It's bigger than maybe anything that has happened for literally hundreds of years. It is the biggest thing. And it's mostly good. And the communities that are giving a hard time, now a lot of people think that's China oriented, you know, that China doesn't want, they're spending a lot of money on promoting don't, you know, build because we're beating China in A.I. We're really doing a great job.

Donald Trump 00:12:30-00:12:50 (20 sec)

I approved, it was my idea actually, for every plant that's built, they build their own electricity. So this way, and they're building unbelievably modernized, you know, much better than anything we ever had in the country. These are super geniuses. They know about building plants. And they're building their own power.

Donald Trump 00:12:50-00:13:09 (19 sec)

We need tremendous power for that. China's building massive amounts of power. We are, too. We're building more than China because every one of those buildings that you see going up is building their own. So they're not taking to the community. And the excess power that they have, which is substantial, they're selling them that back at a very low cost to the grid.

Donald Trump 00:13:09-00:13:21 (12 sec)

So we're getting more and more electric, cost us nothing. I think any community that turns down A.I. is making a big mistake because your taxes are going to go way down. If you own a house, it's going to be more valuable.

Trace Gallagher 00:13:21-00:13:21 ( sec)

Uh-huh.

Donald Trump 00:13:21-00:13:29 (8 sec)

It's a tremendous thing. And I see it, it's almost like there's a campaign against, you know, data centers.

Trace Gallagher 00:13:29-00:13:29 ( sec)

Uh-huh.

Donald Trump 00:13:29-00:13:52 (22 sec)

But data centers, if you look at the stats, everything's good around them. Now the thing they should look at is blue states and blue cities, cities run by Democrats because that's really the threat to the country because they're a disaster. But when you turn down data center, and within this country, when they get turned down, there's other communities that want them desperately.

Trace Gallagher 00:13:52-00:13:56 (4 sec)

Two quick questions, sir. One, you're here to talk about the economy.

Donald Trump 00:13:56-00:13:56 ( sec)

Right.

Trace Gallagher 00:13:56-00:14:00 (4 sec)

What's your big message? You want to leave one takeaway with this crowd. What is it?

Donald Trump 00:14:00-00:14:21 (21 sec)

So tariffs have been incredible. We've taken in hundreds of billions of dollars. Supreme Court gave us a little shot, but we're allowed to do it in a different manner. They said that. But we are anyway, regardless, we have the law. I was doing it great. It was a very close decision. But we've done it a different way, and it's just, frankly, it's just as good, a little more complex, but just as good.

Donald Trump 00:14:21-00:14:37 (16 sec)

We took in hundreds of billions of dollars in tariffs, and what it's done is it's brought all these companies that didn't want to pay, because if you build here, if you make your car here, like Toyota just announced they're building one of the largest car plants in the world, they're coming out of Mexico.

Donald Trump 00:14:37-00:14:58 (20 sec)

Others are coming here. It, drug companies. A.I., yes, but not even talking about A.I. We're building more automobile manufacturing plants than at any time in the history of our country. For 40 years, we didn't build one, not one. Now we're building many, and the biggest in the world. We're building the biggest in the world.

Donald Trump 00:14:58-00:15:13 (15 sec)

So I think if there's anything, I'd say our country is rocking and rolling. We've never been this successful. They don't want to talk about it, but they're having no choice. And again, whether it's Laura or Sean or Jesse or you, you have such a good show. I watch you all the time.

Trace Gallagher 00:15:13-00:15:14 (1 sec)

Thank you, sir.

Donald Trump 00:15:14-00:15:20 (6 sec)

Sometimes they tape it and watch it. It's okay. I don't know what they call it today. They used to call it TiVo, maybe they still do.

Trace Gallagher 00:15:20-00:15:20 (1 sec)

Yeah.

Donald Trump 00:15:20-00:15:22 (2 sec)

But I love TiVo or its equivalent.

Trace Gallagher 00:15:22-00:15:23 (1 sec)

DVR.

Donald Trump 00:15:23-00:15:25 (2 sec)

But you do a great, you do a great job.

Trace Gallagher 00:15:25-00:15:26 (1 sec)

Thank you, sir.

Donald Trump 00:15:26-00:15:27 (1 sec)

Really good.

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