During a virtual address at the World Economic Forum in Davos, Switzerland, U.S. President Donald Trump urged businesses worldwide to invest and manufacture their products in the United States, warning that failure to do so could result in tariffs on goods entering the American market.

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“If they don’t manufacture their product in the U.S., which is their prerogative, then they’ll simply have to pay a tariff, of varying amounts,” Trump stated, using a mix of threats and incentives to persuade global companies.

On the other hand, he offered significant tax benefits for companies relocating production to the U.S., promising “the lowest taxes on Earth.” Trump emphasized his administration’s efforts to lower taxes substantially, suggesting that tariffs would help strengthen the U.S. economy and address its mounting national debt.

Trump criticized the European Union (EU) for imposing non-tariff barriers and quality standards he deemed unfair. He signaled his dissatisfaction with the U.S.-EU trade deficit, which he said amounts to hundreds of billions of dollars.

He also expressed frustration over large fines imposed by the European Commission on American corporations for antitrust violations and tax evasion, stating, “Whether they like it or not, these companies are American and shouldn’t be treated this way.”

Trump highlighted the vast oil and gas reserves of the U.S., positioning the country as a future leader in manufacturing, artificial intelligence, and cryptocurrency. He also pledged to ask Saudi Arabia and other OPEC countries to lower oil prices, claiming this would “immediately” end the Russia-Ukraine conflict. However, Trump did not address the deeper causes of the conflict, which include NATO’s eastward expansion and its perceived threat to Moscow.

The speech reflects Trump’s consistent “America First” stance, emphasizing domestic economic priorities while challenging international norms and alliances.

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