New Delhi: In his first major address to global leaders since returning to the White House, US President Donald Trump urged businesses to manufacture in the United States or face tariffs. This follows his earlier statements about potentially imposing tariffs on Canada, Mexico and China as early as February 1st.
Speaking remotely to the World Economic Forum in Davos, Trump reiterated his “America First” approach, outlining a carrot-and-stick policy for private investment. He declared the US “the world capital of AI and crypto.” “US will be the world capital of AI and crypto… come make your product in America, but if you don’t it’s your prerogative, but very simply, you will pay a tariff, differing amounts, which will direct hundreds of billions of dollars even trillions of dollars into our Treasury,” Trump said.
He promised low taxes for companies manufacturing in the US but threatened tariffs for those choosing to produce elsewhere. “Come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump.
“But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff,” he added.
Trump also addressed the Russia-Ukraine war, stating that lower oil prices would lead to its immediate end.
Trump also addressed the Russia-Ukraine war, stating that lower oil prices would lead to its immediate end. “I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” referring to the Organization of the Petroleum Exporting Countries.
“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,” he added.
Earlier in his address to the forum, he placed some blame on OPEC+ alliance for high oil prices, which are bolstering Russia’s economy. “If the price came down, the Russia-Ukraine war would end immediately,” Trump said. He added about OPEC+, “They are very responsible to a certain extent for what’s taking place.”
