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* Politics

# Trump Tells Davos Elite to Invest in U.S. or Face Tariffs

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<!-- video src="https://cdn.jwplayer.com/manifests/r4uevtoj.m3u8" -->
## Video: Trump Tells Davos Elite to Invest in U.S. or Face Tariffs

[Watch (HLS stream): Trump Tells Davos Elite to Invest in U.S. or Face Tariffs](https://cdn.jwplayer.com/manifests/r4uevtoj.m3u8) (2:01)

![Trump Tells Davos Elite to Invest in U.S. or Face Tariffs](https://cdn.jwplayer.com/v2/media/r4uevtoj/poster.jpg?width=720)

_Published 2025-01-23. President Donald Trump used an address Thursday to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the U.S. and threatened to impose tariffs if they don’t._


---

Jan 23, 2025 8:20 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[Trump Explains Reasoning Behind Doubling Steel, Aluminum Tariffs](/video/eOh1NzSf/)

### Trump Explains Reasoning Behind Doubling Steel, Aluminum Tariffs

[Trump Imposes 25% Steel and Aluminum Tariffs in Latest Trade Escalation](/video/rJbv1IN2/)

### Trump Imposes 25% Steel and Aluminum Tariffs in Latest Trade Escalation

[President Trump Announces That He Will Impose Steel and Aluminum Tariffs](/video/bujzSqau/)

### President Trump Announces That He Will Impose Steel and Aluminum Tariffs

---


## Transcript

My administration is acting with unprecedented speed to fix the disasters we've inherited from a totally inept group of people, and to solve every single crisis facing our country. This begins with confronting the economic chaos caused by the failed policies of the last administration. Over the past four years, our government racked up $8 trillion in wasteful deficit spending and inflicted nation wrecking energy restrictions, crippling regulations and hidden taxes like never before. The result is the worst inflation crisis in modern history and sky high interest rates for our citizens and even throughout the world, food prices and the price of almost every other thing known to mankind went through the roof.

President Biden totally lost control of what was going on in our country. As you probably know by just reading any paper, 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. 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, 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. Already Americans, you can see this. I think maybe even in your in your wonderful, wonderful room that you're all gathered together. So many of my friends. But Americans, the economic confidence is soaring like we haven't seen in many, many decades. Maybe not at all.

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