Trump unveils red 'Veto' hat, says flurry of post-midterms policy announcement coming

President Donald Trump with a "veto" hat.

Two days after Republican suffered major setbacks in the midterm elections, losing control of the House and Senate, President Donald Trump spoke to reporters in the Oval Office and teased a number of policy announcements he said are coming. He also unveiled a new version of his signature red MAGA hat -- this one with the word "VETO" emblazone in white lettering across the front. 

"We're going to do a lot of things. You'll be seeing a lot of things over the next week, two weeks. We have a lot of things cooking, doing very well," Trump said, adding that the policies will be aimed at bringing down costs for Americans. "Prices will come way down," he said. Trump also defended the tariffs he's implemented since his second term began last year. "We've been ripped off for years, with other countries having tariffs, and we didn't."

He also touched on the Iran war, and discussed the possibility of resuming military action as well as reaching an agreement with the country's leaders. "I would rather not destroy the rest of the country if possible, but maybe I'll have to. You'll know soon enough," Trump told reporters. "We'll make a decision, do we want to go further and just certify it by certifying it, meaning where it'll never happen again? I think it'll take them 25 years to rebuild the country."

The president expressed support for War Secretary Pete Hegseth, who is facing an impeachment resolution in the House next week, and weighed in on the results of the L.A. mayors race, which was won by socialist Nithya Raman on Thursday.

Trump also announced he was signing a proclamation to make the Oval Office and the Cabinet room official federal landmarks, meaning the rooms won't be able to be taken down or destroyed. "They're very important spaces," Trump said. His remarks came as a red hat with the word "VETO" sat in front of him on the Resolute Desk, an apparent sign to congressional Democrats about what fate any laws they may pass over the next two years may meet. 

Watch a highlight of him speaking below.