Donald Trump on Thursday addressed the World Economic Forum Annual Meeting, pitching lower taxes for companies that manufacture in the United States while warning of tariffs for those that do not.
Speaking via video conference, Trump urged global business leaders to invest in US manufacturing, promising what he described as the “largest tax cuts in American history” and a sweeping deregulation drive. “I will eliminate 10 old regulations for every new regulation,” he said.
At the same time, he cautioned companies against producing goods outside the US. “If you don’t manufacture in America, you will pay tariffs,” he warned, adding that several firms have already committed billions of dollars in investments to set up facilities in the country.
Trump also said he would ask OPEC and Saudi Arabia to lower oil prices, asserting that a drop in energy costs could immediately help end the ongoing Russia-Ukraine War. “If prices come down, the war will end immediately,” he said.
Highlighting domestic priorities, Trump emphasized energy expansion, stating that the US has the world’s largest oil and gas reserves and that his administration intends to fully utilise them. He also claimed early progress in tackling inflation and pledged to restore economic strength.
Declaring the start of a “golden age of America” following his inauguration on January 20, Trump said his administration had already achieved more in four days than previous governments did in years. He criticised the administration of Joe Biden, blaming it for economic setbacks and rising trade deficits.
On global relations, Trump indicated a willingness to engage with key leaders. He said he expects to meet Vladimir Putin to discuss ending the war in Ukraine, stressing that the goal is to “stop the killing.”
On ties with China, he said Xi Jinping had reached out and expressed optimism about improving relations. However, he reiterated concerns over the US trade deficit with China and other Asian economies, calling for a “level playing field.”
Responding to a question from Brian Moynihan, Trump also raised concerns about access to financial services for conservative groups.
In addition, Trump highlighted a recent executive order recognising only two genders—male and female—and barring transgender athletes assigned male at birth from competing in women’s sports.
Concluding his address, Trump said his second term would make the US a manufacturing superpower and position it as the global leader in artificial intelligence and cryptocurrency, while contributing to a more peaceful and prosperous world.
