US President Donald Trump, in his first major address to global leaders since returning to the White House, warned businesses on Thursday to manufacture in the United States or face tariffs. Speaking remotely to the World Economic Forum in Davos, Switzerland, Trump underscored his administration’s renewed focus on economic protectionism and trade reform.
“Come make your product in America, and we will give you among the lowest taxes of any nation on earth,” Trump 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.”
Since his inauguration on Monday, Trump has taken swift actions, including signing executive orders to withdraw the US from the Paris Climate Accords and the World Health Organization. He has also signaled the potential imposition of steep tariffs on key trading partners such as Canada, Mexico, and China as early as February 1.
Oil Prices and the Ukraine War
In his remarks, Trump connected global oil prices to the ongoing Russia-Ukraine conflict, stating his belief that lower prices would expedite peace. “I’m going to ask Saudi Arabia and OPEC to bring down the cost of oil,” he said. “If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue.”
Relations with China and Global Trade
Trump reiterated his desire for fair trade practices while signaling a willingness to work with China. “I expect to have a very good relationship with China,” he said, adding, “All we want is fairness.” This comes as Trump hinted at a possible resurgence of tariffs on Beijing, similar to the trade wars during his first administration.
The president also vowed an immediate overhaul of the US trade system, promising to leverage tariffs and taxes to benefit American citizens. He has directed government agencies to study trade deficits and unfair practices, paving the way for further protective measures.
Interest Rates and Gender Policies
In a wide-ranging speech, Trump announced plans to pressure for lower interest rates globally. “I’ll demand that interest rates drop immediately,” he said, adding that rates worldwide should follow the US lead.
Trump also took a firm stance on gender-related issues, declaring it the “official policy of the United States” to recognize “only two genders, male and female.” He criticized “men participating in women’s sports” and stated that gender reassignment surgeries would be restricted to “very rare” circumstances.
The speech solidifies Trump’s return to a hardline economic and social agenda, promising significant shifts in trade, energy, and domestic policies as his administration reasserts its position on the global stage.
