United States President Donald Trump issued a strong message to global business leaders on Thursday, urging them to manufacture their products in the United States or face tariffs.
This marked his first major speech to an international audience since his return to the White House earlier in the week.
Speaking remotely at the World Economic Forum in Davos, Switzerland, Trump reiterated his administration’s commitment to bolstering domestic production and warned of steep penalties for those who fail to comply. “Come make your product in America and we will give you among the lowest taxes of any nation on earth,” he declared. “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’s speech comes just days after his inauguration on Monday, during which he wasted no time signing a series of executive orders. These included withdrawing the United States from the Paris Climate Accords and the World Health Organisation, signalling a renewed focus on what he has termed “America First” policies. Additionally, the president hinted that the U.S. might impose steep tariffs on major trading partners such as Canada, Mexico, and China as early as February 1.
In a surprising shift to energy policy, Trump suggested that lowering oil prices could bring an end to the ongoing war in Ukraine. “I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” he stated, referring to the Organization of the Petroleum Exporting Countries.
Elaborating on his perspective, he added, “If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue.”