US President Donald Trump told world business leaders on thursday that they either produce in the United States or face tariffs, in his first major speech to global executives since returning to the White House this week.
Since his inauguration on Monday, Trump has stated that Washington may put heavy tariffs on major trading partners Canada, Mexico, and China as early as February 1.
He has also issued a series of executive orders, withdrawing the United States from the Paris Climate Accords and the World Health Organisation.
“Come make your product in America, and we will give you some of the lowest taxes of any country on the planet,” Trump said on Thursday, addressing remotely to the World Economic Forum in Davos, Switzerland.
“But if you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff,” the politician stated. In his speech, Obama stated that he hoped reduced oil prices would help stop the war in Ukraine immediately.
“I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil,” referring to the Organisation of Petroleum Exporting Countries. “If the price came down, the Russia-Ukraine war would end immediately,” he said. “Right now, the price is high enough that that war will continue,” he claimed.
