In a bold address to the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, President Donald Trump presented a clear message to global business leaders: invest in the United States or face hefty tariffs. Speaking via video from the White House on the third day of his presidency, Trump emphasized his administration’s focus on revitalizing American manufacturing and promised to offer some of the lowest corporate tax rates in the world for businesses that choose to set up shop in the U.S.
Trump’s comments were part of a broader economic strategy that he detailed during the summit, outlining what he described as a “carrot-and-stick” approach. He invited global manufacturers to bring their production to the U.S., assuring them of substantial tax incentives. “Come make your product in America, and we will give you among the lowest taxes as any nation on earth,” Trump said. However, he also made it clear that businesses opting to keep their production overseas would face tariffs. These tariffs, he warned, would funnel hundreds of billions, possibly even trillions, of dollars into the U.S. treasury, thus strengthening the economy and helping to reduce the national debt.
Trump’s message echoed his broader agenda of economic nationalism, aiming to secure American jobs and fortify the country’s financial standing on the world stage. The president also mentioned a recent conversation with Saudi Arabia’s Crown Prince Mohammed bin Salman, during which the kingdom expressed interest in investing $600 billion in the U.S. Trump said he would push the crown prince to increase that figure to $1 trillion. The remark was met with laughter from the audience in Davos, but it highlighted Trump’s commitment to securing international investment for the U.S.
The president’s remarks also touched on foreign policy issues, particularly the ongoing Russia-Ukraine war. Trump reiterated his promise to end the conflict, calling it a “horrible” situation. He stated that meeting with Russian President Vladimir Putin was a key objective in his efforts to resolve the war, though he offered few specifics on how he would achieve this goal.
Trump also blamed the Organization of the Petroleum Exporting Countries (OPEC) for contributing to the continuation of the war by keeping oil prices high, which in turn funded Russia’s military efforts. “If the price came down, the Russia-Ukraine war would end immediately,” Trump said. His criticism of OPEC’s role in the conflict underscored the economic leverage that oil prices have on global politics. However, oil prices have recently dropped due to weaker-than-expected demand from China and increased production from non-OPEC countries like Brazil and Argentina.
Throughout his speech, Trump’s tone was assertive, reiterating his vision for a more self-reliant and economically powerful U.S. under his administration. The speech marked a defining moment in his early presidency, as he used the WEF platform to showcase his policies aimed at reshaping the global economic order in favor of American interests.
