On Thursday, US President Donald Trump challenged world business leaders to manufacture their products in the United States, warning that failure to do so would result in tariffs. The remarks came during his first major speech to global leaders since his return to the White House earlier this week.
Since his inauguration on Monday, Trump has outlined plans for steep tariffs targeting key trading partners, including Canada, Mexico, and China, which could be enacted as soon as February 1.
In addition to trade measures, Trump has wasted no time issuing executive orders, such as withdrawing the United States from the Paris Climate Accords and the World Health Organization.
Speaking remotely at the World Economic Forum in Davos, Switzerland, Trump declared:
“Come make your product in America, and we will give you among the lowest taxes of any nation on earth. But if you don’t, which is your prerogative, then very simply, you will have to pay a tariff.”
Trump further claimed that lower oil prices could bring an immediate end to the war in Ukraine.
“I’m going to ask Saudi Arabia and OPEC to bring down the cost of oil. If the price came down, the Russia-Ukraine war would end immediately,” he said. “Right now, the price is high enough that that war will continue.”
On relations with China, Trump expressed hope for a strong partnership but stressed the need for fairness in trade. His first administration saw an escalating tariff war with Beijing, and Trump has hinted at the possibility of imposing new duties during his second term.
Trump’s speech also touched on domestic economic policies, pledging to push for globally lower interest rates. “I’ll demand that interest rates drop immediately,” he said. “Likewise, they should be dropping all over the world.”
In addition to economic policies, Trump addressed cultural issues, reaffirming his administration’s stance recognizing “only two genders, male and female,” and criticizing the participation of men in women’s sports. He added that gender surgeries would be “very rare” under his policies.
Reiterating his commitment to reshaping US trade, Trump promised to prioritize tariffs and taxes to benefit American citizens. He also signed an order directing federal agencies to investigate trade deficits and unfair practices, setting the stage for potential new tariffs in the future.
AFP
