President Donald Trump addressed the World Economic Forum in Davos, Switzerland, on Thursday, discussing key economic policies and international relations.
Speaking virtually to an audience of global economic and world leaders, President Trump reiterated his administration's stance on NATO defense spending, tariffs and tax cuts.
“My message to every business in the world is very simple: Come make your product in America and we will give you among the lowest taxes of any nation on Earth," President Trump said. "We’re bringing them down very substantially, even from the original Trump tax cuts. But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff, differing amounts, but a tariff which will direct hundreds of billions of dollars and even trillions of dollars into our Treasury to strengthen our economy and pay down debt.”
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President Trump also mentioned plans to engage with Saudi Arabia and OPEC to lower oil prices, linking this to his broader economic strategy.
In his first address to an international audience since returning to power, President Trump said he would like to meet with Russian President Vladimir Putin about putting an end to the war in Ukraine.
“We really have to stop that war," President Trump said. "That war is horrible."
Trump also said he would ask NATO allies to increase defense spending to 5%. NATO guidelines currently recommend that member countries spend at least 2% of their gross domestic product on defense.
