In a firm message to global businesses, President Donald Trump extended an invitation to manufacture their products in the United States by offering better tax incentives.
“My message to every business in the world is very simple. Come make your product in America, and we will give you among the lowest taxes of any nation on Earth. We’re bringing them down very substantially, even from the original Trump tax cuts,” he announced during his virtual address to global business leaders gathered at the World Economic Forum in Davos, on January 23, 2025.
President Trump pledged to deliver the largest tax cut in U.S. history, targeting workers, families, domestic producers, and manufacturers. Simultaneously, he issued a warning: businesses that choose to manufacture outside the U.S. would face tariffs designed to generate billions in revenue to strengthen the economy and reduce the national debt.
“There will be no better place on Earth to create jobs, build factories, or grow a company than right here in the good old USA,” he asserted.
Highlighting investments under his administration, Trump cited significant contributions to the U.S. economy. He pointed to SoftBank’s pledged $100-$200 billion investment and a $500 billion commitment from companies like Oracle, and OpenAI toward artificial intelligence infrastructure. Additionally, he announced Saudi Arabia’s planned investment of at least $600 billion, with expectations to push it to $1 trillion.
Trump also revealed plans to urge Saudi Arabia and Organization of the Petroleum Exporting Countries to lower oil prices, which, he argued, would end the Russia-Ukraine conflict. “If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue.” Lower oil prices, he emphasized, would also drive down interest rates globally.
About spending on the North Atlantic Treaty Organization (NATO), the President called for NATO member nations to increase their defense spending to 5 per cent of GDP, stating that the U.S. had long carried an unfair financial burden. It was only at 2 percent, and most nations didn’t pay until he came along.
“I insisted that they pay, and they did — because the United States was really paying the difference at that time, and it was unfair to the United States.”
Trump also credited his administration for brokering a Middle East ceasefire agreement before his term officially began and expressed optimism that his efforts would secure peace between Russia and Ukraine. “It’s so important to get that done. That is an absolute killing field.”
In sharp criticism of the Biden administration, Trump blamed it for “wasteful deficit spending” and “nation-wrecking energy restrictions” that he said contributed to the “worst inflation crisis in modern history.”
He pointed out rising food prices, soaring inflation rates, and higher interest rates globally, stating, “The inflation rate we are inheriting remains 50 per cent higher than the historic target.”
He further noted, “That’s why, from the moment I took office, I’ve taken rapid action to reverse each and every one of these radical left policies that created this calamity — in particular, with immigration, crime, and inflation.”
To combat these challenges, Trump said he signed an executive order to “defeat inflation.” “I imposed a federal hiring freeze, a federal regulation freeze, a foreign aid freeze, and I created the new Department of Government Efficiency,” he added.
He also noted he repealed policies tied to the Green New Deal, calling it the “Green New Scam,” withdrew from the Paris Climate Accord, and ended the electric vehicle mandate.
While explaining his intent behind declaring a national energy emergency, Trump said the U.S. would leverage its vast oil and gas reserves to reduce costs and establish itself as a manufacturing superpower, as well as the global leader in artificial intelligence and cryptocurrency.