During his speech at the World Economic Forum (WEF) in Davos, US President Donald Trump called for a global cut in oil prices, interest rates and taxes. Trump warned companies that they could face import tariffs if they export their production outside the United States.
New economic direction
In his speech, delivered via video link, Trump stated that he will demand an immediate cut in interest rates, both in the US and globally. He also announced that he will put pressure on Saudi Arabia and OPEC to lower oil prices.
“The United States has the largest amounts of oil and gas in the world, and we are going to use it,” Trump said. He emphasized that this will not only reduce the cost of goods and services, but also position the US as a global manufacturing superpower.
Threat of new tariffs
Trump reiterated his tough stance on trade and threatened new tariffs on allies such as Canada and the European Union. He criticized their import policies and blamed them for the US trade deficit. The president warned that respect for the United States will be demanded from now on: “We are no longer going to accept that deficit.”
Business leaders in Davos, including the CEOs of Bank of America and TotalEnergies, had the opportunity to ask questions about the potential impact of these measures. While Trump withheld specific details about the tariffs, he suggested they could go into effect as early as February 1.
Political and social controversies
Trump also used the occasion to criticize his predecessor Joe Biden and distance himself from Davos themes such as climate policy and diversity. He stated that the US will further withdraw from international agreements such as the Paris Climate Agreement and the World Health Organization.
The president also announced that he wants to dismantle diversity programs within the federal government, while urging companies to do the same. This has caused division among leaders in attendance, some of whom emphasized that inclusivity is essential to their business operations.
Rapid policy changes
Trump listed the changes he has made since his inauguration earlier this week. These include cutting immigration programs, expanding domestic energy production and pardoning more than 1,500 people involved in the 2021 Capitol storming.
His tough economic stance and pledge to position the US as a center for artificial intelligence, cryptocurrency and fossil fuels underscore his strategy to advance national interests despite international criticism. The speech has once again sown divisions between political leaders and business representatives over the long-term impact of these changes in direction.
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Source: https://newsbit.nl/trump-spreekt-op-wef-lagere-olieprijzen-rente-en-belastingen/
