Donald Trump Tells Davos Elite to Invest in US or Face Tariffs

In a Thursday address to the World Economic Forum, President Donald Trump promised global elites they would receive lower taxes if they relocated manufacturing to the U.S. and threatened to impose tariffs if they do not.

Speaking via video from the White House to the annual summit in Davos, Switzerland, on his third full day in office, Trump highlighted his series of executive actions since his inauguration and asserted that he had a "massive mandate" from the American people to enact change. He proposed a carrot-and-stick strategy to encourage private investment in the U.S.

"Come make your product in America and we will give you among the lowest taxes as any nation on earth," Trump said. "But if you don't make your product in America, which is your prerogative, then very simply, you will have to pay a tariff — differing amounts — but a tariff, which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt under the Trump administration."

Also, during his virtual remarks, Trump said he was going to ask Saudi Arabia and the Organization of Petroleum Exporting Countries (OPEC) to bring down the price of oil.

More to follow.

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