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

Weekend Push for New Industrial
2 MIN READ

Weekend Push for New Industrial Agreement as Deadline Looms

Energy Efficiency Boosts Villa Prices
1 MIN READ

Energy Efficiency Boosts Villa Prices in Sweden's Real Estate Market

Elon Musk's XAI Acquires Platform
1 MIN READ

Elon Musk's XAI Acquires Platform X in Major Tech Move

Inflation Concerns Drag Down Wall
1 MIN READ

Inflation Concerns Drag Down Wall Street Indices

Sweden Seeks New Investors for
1 MIN READ

Sweden Seeks New Investors for Bankrupt Northvolt Battery Firm

US Inflation Surprises with Higher
1 MIN READ

US Inflation Surprises with Higher Than Expected February Rate

Li Ka-Shing Halts Sale of
1 MIN READ

Li Ka-Shing Halts Sale of Panama Canal Ports Amid Beijing Pressure

Princess Madeleine Addresses Criticism Over
2 MIN READ

Princess Madeleine Addresses Criticism Over New Skincare Venture

Stockholm Stocks Slide 4.5 Percent
1 MIN READ

Stockholm Stocks Slide 4.5 Percent in a Week as US Inflation Hits

French Inflation Dips Below Expectations,
1 MIN READ

French Inflation Dips Below Expectations, Impacting ECB Decisions

Cautious Consumer Spending Sees Slight
1 MIN READ

Cautious Consumer Spending Sees Slight Uptick in Sweden's Retail Sales

SSAB Faces Financial Supervisory Authority
1 MIN READ

SSAB Faces Financial Supervisory Authority Probe Over Reporting Rules

79,000 Swedes Face Student Debt
1 MIN READ

79,000 Swedes Face Student Debt with Enforcement Authority in 2024

Royal Expert Questions Princess Madeleine's
3 MIN READ

Royal Expert Questions Princess Madeleine's Skincare Venture

Gold Prices Reach New Heights
1 MIN READ

Gold Prices Reach New Heights as Trade Tariff Concerns Grow

Asian Markets Tumble as Investors
1 MIN READ

Asian Markets Tumble as Investors Brace for New US Tariffs

Trump's Tariff Plan Could Drive
2 MIN READ

Trump's Tariff Plan Could Drive Up Car Costs, Impact US Market

Ubisoft and Tencent Invest $1.25
1 MIN READ

Ubisoft and Tencent Invest $1.25 Billion in New Gaming Subsidiary

Sweden to Build Major Carbon
2 MIN READ

Sweden to Build Major Carbon Capture Facility in Stockholm by 2028

Wall Street Dips as US
2 MIN READ

Wall Street Dips as US Car Giants Slide on New Tariff Announcement

Vattenfall Prepares Autumn Application as
2 MIN READ

Vattenfall Prepares Autumn Application as Sweden Backs Nuclear Expansion

US Car Tariffs Threaten Swedish
2 MIN READ

US Car Tariffs Threaten Swedish Auto Industry, Warns Dousa

Nordic Nations Unite to Tackle
1 MIN READ

Nordic Nations Unite to Tackle Unsafe Products from Temu and Shein

Volvo Recalls 73,000 Hybrids Over
1 MIN READ

Volvo Recalls 73,000 Hybrids Over Fire Risk in Battery Charging

Four Charged in Nasdaq Stockholm
2 MIN READ

Four Charged in Nasdaq Stockholm Insider Trading Scandal

European Car Stocks Drop After
1 MIN READ

European Car Stocks Drop After US Tariff Announcement

Trump Warns EU and Canada
1 MIN READ

Trump Warns EU and Canada of Higher Tariffs Over Economic Moves

Sweden's FI Pushes for Clearer
1 MIN READ

Sweden's FI Pushes for Clearer Mortgage Rate Discount Notices

Trump's Trade Tariffs Add Pressure
2 MIN READ

Trump's Trade Tariffs Add Pressure to H&M's Struggling Sales

US Implements 25% Car Tariffs
2 MIN READ

US Implements 25% Car Tariffs to Boost Domestic Production

Sweden to Cut Ties with
3 MIN READ

Sweden to Cut Ties with Underperforming Job Placement Firms

US Tariffs Trigger Global Stock
1 MIN READ

US Tariffs Trigger Global Stock Market Dip; Volvo and Banks Hit Hard

SBAB Increases Fixed-Rate Mortgage Interest
1 MIN READ

SBAB Increases Fixed-Rate Mortgage Interest by 0.10 Points

Second-Hand Market Sees Over 40
1 MIN READ

Second-Hand Market Sees Over 40 Percent Drop in February

Tokyo Stocks Dip as US
1 MIN READ

Tokyo Stocks Dip as US Tariff Threats Shake Asian Markets

Japanese Car Stocks Tumble After
1 MIN READ

Japanese Car Stocks Tumble After Trump's Tariff Announcement

US Considers Lower Tariffs for
1 MIN READ

US Considers Lower Tariffs for China in Tiktok Sale Deal

Trump's Vehicle Tariffs Spark EU
2 MIN READ

Trump's Vehicle Tariffs Spark EU Regret and Market Reactions

Wall Street Dips as Traders
2 MIN READ

Wall Street Dips as Traders Brace for Trump's Tariff Announcement

Swedish Player Wins Record 1.25
2 MIN READ

Swedish Player Wins Record 1.25 Billion Kronor: What's Next?