In a virtual speech broadcast to world leaders at Davos, US President Donald Trump today put forward several pledges for his second term, including promises to battle government spending, “economic chaos” and increased public borrowing. He also spoke about trade, and said he would use tariffs to reshore manufacturing in America – adding that levies could be put on goods from China and the European Union. The speech also touched on inflation, which he said could be lowered by urging OPEC nations to cut the cost of oil, a move that would allow interest rates in the US to fall. Trump said that this could also pressure Russia to end its war in Ukraine. Other plans announced in the speech include a promise of cracking down on undocumented migration.
This is Trump’s first speech to the World Economic Forum since 2020. At this year’s gathering of finance and business CEOs, central bank governors and political officials, Trump’s return to the White House has dominated conversation, with a mixture of enthusiasm and concern for his policy platform.
