Davos

Trump at Davos: 'America is open for business'

The president, who referred to himself as a 'cheerleader' for his nation, urged those in Davos to invest in the U.S.

By LOUIS NELSON

President Donald Trump on Friday touted America's economic successes in a speech at the World Economic Forum in Davos, Switzerland, offering an assurance that the United States will remain engaged in the world.

"The world is witnessing the resurgence of a strong and prosperous America. I'm here to deliver a simple message. There has never been a better time to hire, to build, to invest and to grow in the United States," the president said while delivering an address at the World Economic Forum at Davos, Switzerland. "America is open for business, and we are competitive once again."

The president, who during a subsequent question-and-answer session referred to himself as a “cheerleader” for his nation, urged the economic titans gathered in Davos to invest in the U.S., highlighting the package of tax cuts and reforms his White House helped shepherd through Congress last year as well as his administration-wide policy of slashing government regulations.

He also celebrated the stock market’s growth through his first year in office, as well as historic lows in unemployment for women and African-Americans. All of it, he said, is evidence of a U.S. economy ripe for international investment.

“Now is the perfect time to bring your business, your jobs and your investments to the United States,” he said. “We are freeing our businesses and workers so they can thrive and flourish as never before. We are creating an environment that attracts capital, invites investment and rewards production. America is the place to do business, so come to America where you can innovate, create and build.”

But Trump also warned that his administration would seek to level the field of international trade and create a system that “promotes broadly shared prosperity and rewards to those who play by the rules.” He said the U.S. would not tolerate “massive international property theft, industrial subsidies and pervasive state-led economic planning.”

The president, who has been a scathing critic of multilateral trade deals and has threatened to pull the U.S. out of NAFTA, suggested that his administration would be willing to negotiate a trade deals with member nations of the Trans-Pacific Partnership, a trade deal he pulled the U.S. from almost immediately upon assuming office. He even suggested that multilateral agreements could be possible, but only “if it is in the interest of all” the countries involved.

“We cannot have free and open trade if some countries exploit the system at the expense of others,” he said. “We support free trade, but it needs to be fair and it needs to be reciprocal. Because in the end, unfair trade undermines us all.”

Trump also celebrated U.S. gains against Islamic State militants and other terrorist organizations and called on other nations to join it in efforts to pressure North Korea into abandoning its nuclear weapon ambitions. He asked for international support in condemning Iranian support for groups deemed by the U.S. to be terrorist organizations and to block any path for Iran to obtain a nuclear weapon.

The president also tied a pressing domestic issue – immigration reform – to the economic world stage, telling Davos attendees that reforms are needed to install a merit-based system, ensuring those moving to the U.S. are best positioned to succeed and benefit the American economy.

“To be successful, it is not enough to invest in our economy. We must invest in our people. When people are forgotten, the world becomes fractured. Only by hearing and responding to the voices of the forgotten, can we create a bright future that is truly shared by all,” Trump said. “The nation's greatness is more than the sum of its production. A nation's greatness is the sum of its citizens: the values, pride, love, devotion and character of the people who call that nation home.”