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Evan Vucci / AP

President Trump sat down with The Economist last week to talk trade, immigration, taxes, and health care. The complete transcript is absolutely fascinating (hint: Vice President Pence makes a surprise appearance).

His definition of "Trumponomics": "It has to do with trade deals that have to be fair, and somewhat reciprocal, if not fully reciprocal. And I think that's a word that you're going to see a lot of, because we need reciprocality in terms of our trade deals … I'm absolutely a free-trader. I'm for open trade, free trade, but I also want smart trade and fair trade."

On the phrase "priming the pump": "Have you heard that expression used before? Because I haven't heard it. I mean, I just… I came up with it a couple of days ago and I thought it was good."

How he envisions NAFTA renegotiations: "'Big' isn't a good enough word. Massive."

Health insurance options under his plan: "[The head of a big health insurance company] said, 'Mr President, we're going to have so many plans. We're going to have the low version, the high version,' he used the word 'Cadillac.' I won't tell you what car he used for the low version because I don't want you to write it because they happen to be friends of mine, you know, the head people."

His ideal immigration system: "We're going to a much more merit-based system. But I absolutely want talented people coming in, I want people that are going to love our country coming in, I want people that are going to contribute to our country coming in."

Go deeper

Updated 27 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — U.S. tops 88,000 COVID-19 cases, setting new single-day record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. 🎧Podcast: The vaccine race turns toward nationalism.

Technical glitch in Facebook's ad tools creates political firestorm

Facebook CEO Mark Zuckerberg. Photo: SOPA Images / Contributor

Facebook said late Thursday that a mix of "technical problems" and confusion among advertisers around its new political ad ban rules caused issues affecting ad campaigns of both parties.

Why it matters: A report out Thursday morning suggested the ad tools were causing campaign ads, even those that adhered to Facebook's new rules, to be paused. Very quickly, political campaigners began asserting the tech giant was enforcing policies in a way that was biased against their campaigns.

2 hours ago - Health

States beg for Warp Speed billions

A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP

Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash.

Why it matters: The first emergency use authorization could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites.