CNBC EXCERPTS: PRESIDENT DONALD TRUMP SITS DOWN WITH CNBC’S JOE KERNEN

Following are excerpts from the unofficial transcript of a CNBC interview with President Donald Trump and CNBC’s Joe Kernen.

Please note: The full interview will air tomorrow, Friday, July 20 at 6AM ET on CNBC’s “Squawk Box.” Transcript and video of the full interview will be distributed tomorrow following the broadcast of the interview on CNBC’s “Squawk Box.”

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PRESIDENT TRUMP ON THE FED:

https://www.cnbc.com/2018/07/19/trump-lays-into-the-fed-says-hes-not-thrilled-about-interest-rate-.html

I put a very good man in the Fed. I don't necessarily agree with it because he's raising interest rates, I'm not saying I agree with it, and I don't necessarily agree with it, I must tell you I don’t. I'm not thrilled because we go up and every time you go up, they want to raise rates again. I don’t really - I'm not happy about it. But at the same time I'm letting them do what they feel is best. But I don’t like all of this work that goes into doing what we're doing you look at the Euro, you look at what’s going on with the EU and they are not doing what we are doing and we already have somewhat of a disadvantage although I am turning that into an advantage. You know last year and for years we have been losing $150 billion dollars with the EU nations with the European union and they are making money easy and their currency is falling. In china their currency is dropping like a rock and our currency is going up and I have to tell you it puts us at a disadvantage. Now I’m just saying the same thing that I would have said as a private citizen. So somebody would say, Oh, maybe you shouldn’t say that as a President. i couldn’t care less what they say because my views haven’t changed. I don’t like all this work that we are putting in to the economy and then I see rates going up, I see China where I mean look at what’s happening with their currency, it is dropping like a rock.

PRESIDENT TRUMP ON RUSSIA

https://www.cnbc.com/video/2018/07/19/trump-us-russia-relations-putins-worst-enemy.html

I have been far tougher on Russia than any President in many many years. Maybe ever. Even the big fight I have with Germany over the fact that they're taking natural gas, they’re taking energy from Russia. Paying them billions of dollars. I said, wait a minute, we're supposed to be protecting you from Russia and you're paying them billions of dollars. What's that all about? Now, do you think that's a positive for Russia? I’m talking them out of things that where they were given billions of dollars. It's ridiculous by the way that that's happening. And then on top of that, Germany pays a fraction of what they should be paying for defense. We're supposed to be defend them. So they’re paying Russia and we're supposed to defend them from Russia. so just look at that point. But look at the sanctions I have put on. Look at the diplomats I threw out. Look at all the things that I have done. Nobody else did what I have done. Obama didn’t do it. Obama was a patsy for Russia. He was a total patsy. Look at the statement he made. When he thought the mics were turned off okay, the stupid statement he made. No one makes a big deal of that. getting along with President Putin getting along with Russia is a positive not a negative. Now, with that being said if that doesn’t work out I'll be the worst enemy he's ever had.. the worst he's ever had.

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