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| World Economic Forum in Davos |
President Trump Remarks at the World Economic Forum in Davos
On January 23, 2025, President Donald Trump addressed the World Economic Forum in Davos, Switzerland.
Manufacturing and Tariffs
President Trump spoke of an “America First” approach, calling on companies around the world to make their stuff in America. He threatened significant tariffs on those manufacturers who produced goods overseas, including a suggested 25% tariff on imports from Canada and Mexico and a 60% tariff on imports from China. He promised a 15 percent tax rate for any business willing to move its production to the United States in order to reward domestic production.
Non-Accountability of E.U. Bureaucracy
The president also took issue with the European Union's regulatory grip on American technology companies, including Apple and Meta, that he described as an unfair tax. He urged the E.U. to tackle what he sees as unfair tariffs on American products.
Prices of Oil and Conflict Between Russia and Ukraine
This is in the wake of President Trump's plan to ask Saudi Arabia and OPEC to reduce oil prices to respond to global energy problems. He said oil prices could have a bearing on Russia’s revenue streams and, indirectly, the Russia-Ukraine conflict.
Diversity, Equity and Inclusion (DEI) Initiatives
Trump ends federal diversity, equity, and inclusion (DEI) programs (the programs that promote opportunities for women, ethnic minorities, LGBTQ individuals and other traditionally uniformed groups). He has also sought to discourage private companies that receive government contracts from factoring underrepresentation into hiring decisions. These moves have spurred discussion at the forum among business leaders about the future of DEI efforts.
As President Trump spoke about the economy, the world listened—and every corner was paying attention.
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