President Donald Trump addressed the World Economic Forum in Davos, Switzerland, virtually on Wednesday. The stream, slated to begin at 11 a.m. ET, marked Trump's first major international appearance since his return to the White House earlier in the week. Accompanied by World Economic Forum founder Klaus Schwab and CEO Børge Brende, Trump delivered his address remotely, opting not to physically attend the gathering.
The virtual appearance came on the heels of significant policy actions by Trump, including signing executive orders to withdraw the United States from both the World Health Organization and the Paris climate agreement. These decisions underscore his administration's shift in international policy. During his address, Trump emphasized America's potential, stating that "America will once again become a merit-based country."
In addition to his speech, Trump engaged in a dynamic question-and-answer session with notable figures such as Blackstone chairman Steve Schwarzman, Bank of America chairman and CEO Brian Moynihan, Banco Santander executive chair Ana Botin, and Patrick Pouyanné, chairman and CEO of TotalEnergies. This forum provided an opportunity for Trump to discuss his vision for America's future economic strategy.
Trump announced plans to consider imposing 25% tariffs on products from Mexico and Canada and floated the possibility of 10% tariffs on imports from China. These proposed tariffs reflect his administration's ongoing focus on reshaping international trade agreements. Furthermore, Trump stated his ambitions for U.S. energy independence by noting, "The United States has the largest amount of oil and gas of any country on Earth, and we're going to use it."
In a surprising move, Trump renewed his controversial offer to "buy" Greenland, an autonomous territory of Denmark. He also demanded that the United States assert control over the Panama Canal. These propositions highlight Trump's assertive approach to expanding U.S. influence globally.
On domestic policy, Trump has taken steps to require U.S. agencies to rescind efforts aimed at diversifying the federal workforce, aligning with his vision for a merit-based system. He articulated this ambition during his address by stating that reducing costs will transform the United States into "a manufacturing superpower, and the world capital of artificial intelligence and crypto."