US President Donald Trump urged global business leaders on Thursday to manufacture in the United States or risk facing tariffs.
This marked his first significant address to international leaders since his return to the White House earlier this week.
Since taking office on Monday, Trump has warned that Washington may implement hefty tariffs on key trading partners—Canada, Mexico, and China—starting February 1. Additionally, he has issued a series of executive orders, including withdrawing the U.S. from the Paris Climate Agreement and the World Health Organization.
“Come make your product in America and we will give you among the lowest taxes of any nation on earth,” Trump said on Thursday, speaking remotely to the World Economic Forum in Davos, Switzerland.
“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.
In his speech, he added that he believed lower oil prices would help end war in Ukraine instantly.
“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.
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