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.

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

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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.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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