A bold message to the global elite

Davos, Switzerland — U.S. President Donald Trump delivered a blunt ultimatum to the World Economic Forum (WEF) on Thursday, urging global corporations to manufacture their products in the United States or face tariffs. His remarks, delivered via video from the White House, were met with applause from the audience of political and business leaders gathered in the Alpine village of Davos.

“Come make your product in America, and we will give you among the lowest taxes of any nation on Earth,” Trump declared. “But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff.”

This statement reinforces the revival of Trump’s signature “America First” policies during his second term as president, with steep tariffs on trading partners such as China, Canada, and Mexico potentially taking effect as early as February 1.

Lower oil prices to end the Ukraine war?

In his speech, Trump also tied global oil prices to the ongoing Russia-Ukraine conflict, stating his intention to press Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to reduce crude prices.

“If the price came down, the Russia-Ukraine war would end immediately,” Trump claimed, without elaborating on the mechanism behind his assertion.

Following his address, Trump engaged in a Q&A session with top executives from firms including Bank of America, Blackstone, Banco Santander, and TotalEnergies, reinforcing his stance on tariffs and deregulation.

Trump draws crowds at Davos once again

Trump’s appearance at the WEF continues his tradition of captivating audiences at the high-profile summit. Despite his inability to attend in person due to his inauguration earlier in the week, his address drew widespread attention, with prominent attendees such as European Central Bank President Christine Lagarde, Polish President Andrzej Duda, and Croatian Prime Minister Andrej Plenkovic in attendance.

Argentina’s Milei praises Trump’s leadership

Argentina’s libertarian President Javier Milei, an ardent supporter of Trump, took the stage before him with a fiery condemnation of “woke ideology” and expressed admiration for the U.S. president.

“Argentina is re-embracing the idea of freedom,” Milei said, adding, “That is what I trust President Trump will do in this new America.”

Milei lauded an emerging alliance of like-minded leaders, including Trump, Italy’s Giorgia Meloni, Israel’s Benjamin Netanyahu, and Hungary’s Viktor Orban, as champions of freedom and independence. He also defended Elon Musk, who faced criticism for gestures made at Trump’s inauguration that were likened to a Nazi salute, calling it an “innocent gesture of gratitude.”

Global reactions: Mixed and measured

Trump’s renewed focus on tariffs and protectionist trade policies elicited mixed reactions from global leaders and economists in Davos.

Chinese Vice Premier Ding Xuexiang warned against trade wars, stating, “There are no winners in a trade war.” European Commission President Ursula von der Leyen expressed openness to negotiations but emphasized the EU’s commitment to the Paris Climate Agreement, contrasting sharply with Trump’s withdrawal from the accord.

World Trade Organization (WTO) Chief Ngozi Okonjo-Iweala, speaking during a panel, urged calm, warning that retaliatory tariffs could have devastating global consequences. “Please, let’s not hyperventilate,” she quipped, adding, “Could we chill, also?”

Since his inauguration on Monday, Trump has reaffirmed his commitment to reshaping global trade in favor of U.S. interests. His plans to cut taxes, reduce the size of the federal government, and deregulate industries resonate with many business leaders but have raised concerns among economists who warn these measures could reignite inflation.

As the WEF summit continues, Trump’s sharp rhetoric and aggressive economic policies remain a focal point for discussion, with global leaders bracing for the potential impact of America First policies on the international stage.