U.S. President Donald Trump addressed the World Economic Forum in Davos, Switzerland, on Thursday. He urged Saudi Arabia to slash oil prices and increase investments in the United States to one trillion dollars.
Via video conference, Trump declared, 'I've dismantled the Green New Deal—what I call the Green New Scam, withdrawn from the one-sided Paris Climate Accord, and abolished the expensive electric vehicle mandate. America holds the largest reserves of oil and gas on Earth, and we intend to use it. I’m going to ask Saudi Arabia and OPEC to reduce oil prices; it's imperative.'
'Lower Oil Prices Could Halt the Russia-Ukraine War'
Trump asserted that a drop in oil prices could lead to an immediate end to the Russia-Ukraine conflict. He stated, 'If prices decrease, the Russia-Ukraine conflict will cease swiftly. I will advocate for lowering interest rates globally, an urgent necessity.'
Saudi Arabia to Invest $600 Billion in the U.S.
Trump's remarks followed Saudi Crown Prince Mohammed bin Salman's announcement that his country aims to invest $600 billion in the U.S. over the next four years. This statement followed a telephone conversation with Trump.
'Manufacture in the U.S. or Face Tariffs'
Addressing the World Economic Forum, Trump sent a clear message to global business leaders to bring their manufacturing operations to the U.S. or prepare for an increase in tariffs.
Trump emphasized, 'My message to every business worldwide is straightforward—Come manufacture in the U.S., and we'll offer you the lowest tax rates globally.'
He underscored that while businesses have the freedom to choose their manufacturing locations, not producing in the U.S. will incur financial consequences. If your product isn’t made in America, tariffs will apply.
