On January 23, 2025, U.S. President Donald Trump delivered his first international speech since returning to the White House at the World Economic Forum in Davos. He emphasized his economic vision focused on tax reduction, deregulation, and a renegotiation of trade agreements.
Trump proclaimed the beginning of a 'golden age' for the U.S., urging global companies to relocate manufacturing operations to the country. He stated, 'My message to all companies around the world is very simple: come to manufacture your product in the United States, and we will give you some of the lowest taxes of any nation on Earth.'
He warned that companies choosing not to establish operations in the U.S. would face tariffs, which he claimed could generate substantial revenue for the U.S. Treasury.
Trump linked international oil prices to the ongoing conflict between Russia and Ukraine, calling on OPEC to reduce costs to help end the war. He suggested that lowering oil prices could have an immediate impact on the conflict.
Additionally, he mentioned Saudi Arabia's plans to invest $600 billion in the U.S. and urged the kingdom to increase that figure to $1 trillion.
During his address, Trump reiterated calls for NATO members to increase defense spending to 5% of their GDP, a proposal met with skepticism from several allies.
Despite not providing a detailed plan for resolving the Russia-Ukraine conflict, Trump asserted that efforts for a peace agreement are underway.
His speech garnered attention from global business leaders and was met with mixed reactions, including praise from UN Secretary-General Antonio Guterres for his previous diplomatic efforts.