US President Donald Trump urged companies worldwide to manufacture their products in the United States or face tariffs in his first major speech since returning to power at the World Economic Forum in Davos, Switzerland, on Thursday.
“Come make your product in America and we will give you among the lowest taxes of any nation on Earth,” Trump said during his address. “But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff.”
Trump’s remarks centered on his initiative, which aims to attract global manufacturers by offering substantial tax incentives. “We’re bringing them down very substantially, even from the original Trump tax cuts,” he said, referring to the tax policies enacted during his first term.
Trump also made an ambitious promise of passing the largest tax cut in US history, aiming to make the country an attractive hub for production and investment.
Further reinforcing his economic vision, Trump pledged to eliminate 10 regulations for every new regulation implemented, positioning this move as a way to empower American businesses and put money back into the pockets of US citizens.
Trump also talked about the ongoing war in Ukraine, suggesting that reducing global oil prices could immediately end the conflict, urging Saudi Arabia and OPEC to decrease the cost of oil to hasten peace.
On the domestic front, Trump highlighted his efforts to preserve free speech in the US, saying, “We have saved free speech in America, and we have saved it strongly.” He also outlined plans to return the country to a “merit-based” system, focusing on the importance of qualifications and achievement in public life.