SwedenLivingWorld world_2_fill WorldBusiness BusinessSports sports-soccer SportsEntertainmentEntertain

Trump: Move to the USA or Pay Tariffs

Move your production to the USA or pay penalty tariffs. That was Donald Trump's message to the world's business leaders when he spoke to the World Economic Forum in Davos.

» Published: January 23 2025

Trump: Move to the USA or Pay Tariffs
Photo: Laurent Gillieron/AP/TT

What does Donald Trump want?

The question has overshadowed almost everything at the World Economic Forum in Davos, Switzerland, and when the newly elected President of the USA was to speak to the gathered political and financial elite, the tension was high.

What they got was largely an election speech, where Trump repeated many points he had previously raised, not least "the largest tax cuts in American history" and less bureaucracy.

After calling his first 72 hours in power "a revolution of common sense", Trump welcomed international companies to his country, saying he hoped they would move their factories to the USA.

Come and manufacture your goods in the USA and you'll get some of the lowest taxes in the world, he said as a carrot.

The stick came quickly afterwards:

If you don't move production to the USA, that's your choice, you'll simply have to pay tariffs.

The tariffs, Trump predicted, could give the US treasury hundreds of billions that "will strengthen our economy and reduce the national debt".

Trump also urged OPEC to lower the oil price, which "immediately" would put an end to the war in Ukraine, he said.

Right now, the price is high enough for the war to continue.

The criticism of OPEC did not, however, extend to Saudi Arabia, whose Crown Prince Mohammed bin Salman is said to have promised to invest 600 billion dollars in the USA.

But, said Trump, he hoped to get the Crown Prince to increase the sum to a trillion dollars, which, according to AP, was met with some amusement among the audience.

Tags

TTT
By TTThis article has been altered and translated by Sweden Herald

More news

Egg shortage in the USA worsens – rationing introduced
1 MIN READ

Egg shortage in the USA worsens – rationing introduced

Norwegian Customs Nightmare: "A Triple Whammy"
1 MIN READ

Norwegian Customs Nightmare: "A Triple Whammy"

Expensive graduation party - "can be anxiety-filled"
3 MIN READ

Expensive graduation party - "can be anxiety-filled"

Javier Milei criticized after cryptocurrency crash
1 MIN READ

Javier Milei criticized after cryptocurrency crash

Multi-billion loss for Trump's media company
1 MIN READ

Multi-billion loss for Trump's media company

Stalemate in the trade war between the USA and the EU
3 MIN READ

Stalemate in the trade war between the USA and the EU

Northvolt's delayed status report is ready
1 MIN READ

Northvolt's delayed status report is ready

Scholz wants to open up for a larger defense budget
1 MIN READ

Scholz wants to open up for a larger defense budget

Hundreds of reports against cancellation service
2 MIN READ

Hundreds of reports against cancellation service

This is how you can increase your pension by several thousand kronor
3 MIN READ

This is how you can increase your pension by several thousand kronor

Bezos' space company lays off every tenth employee
1 MIN READ

Bezos' space company lays off every tenth employee

Wall Street brakes - tariffs and inflation melt away
2 MIN READ

Wall Street brakes - tariffs and inflation melt away

American Retail Sales Fall Unexpectedly
1 MIN READ

American Retail Sales Fall Unexpectedly

Worst grape harvest in a long time
1 MIN READ

Worst grape harvest in a long time

Russia signals for even higher interest rate
1 MIN READ

Russia signals for even higher interest rate

The Crown Strengthens Against the Dollar – Only Temporarily
2 MIN READ

The Crown Strengthens Against the Dollar – Only Temporarily

The Forestry Industries: Thousands of Jobs at Risk
2 MIN READ

The Forestry Industries: Thousands of Jobs at Risk

Faster Payments to Give Higher Pensions
1 MIN READ

Faster Payments to Give Higher Pensions

Vattenfall: No Nuclear Power Decision Before 2029
2 MIN READ

Vattenfall: No Nuclear Power Decision Before 2029

Luxury Company's Bonus to Employees – 50,000 Kronor
1 MIN READ

Luxury Company's Bonus to Employees – 50,000 Kronor