Trump urges global firms to produce in US or face tariffs at World Economic Forum

In a virtual address at the World Economic Forum, President Donald Trump urged global companies to manufacture in the U.S., promising among the lowest tax rates if they comply, while threatening tariffs for those who do not. He indicated that significant tax cuts for workers and domestic manufacturers are on the table, and mentioned ongoing discussions with Democrats regarding the expiration of previous tax cuts. Trump reiterated his plans for tariffs, proposing a 10% tariff on goods from China and 25% on imports from Canada and Mexico, which he believes could generate substantial revenue for the U.S. treasury. He also expressed intentions to request Saudi Arabia and OPEC to lower oil prices, linking this to broader economic stability and inflation control in the U.S. Furthermore, Trump emphasized his commitment to making America a manufacturing superpower and called for increased defense spending from NATO allies. His remarks reflect a broader strategy to stimulate domestic production and economic revitalization.