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Shane Savitsky May 11, 2017
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Trump defines "Trumponomics" for The Economist

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."