During a videoconference at the World Economic Forum on January 23, U.S. President Donald Trump urged businesses to manufacture their products in the United States to avoid tariffs.
Addressing business leaders at the annual conference in Davos, Trump stated, “My message to every business in the world is very simple: come make your product in America, and we will offer you some of the lowest taxes of any nation on Earth.” He added, “However, if you choose not to make your product in America, then you will face a tariff.”
Trump emphasized that the tariffs would vary in amount but would ultimately direct “hundreds of billions of dollars, and even trillions, into our Treasury to strengthen our economy and reduce debt.”
Although Trump began his presidency on January 20 without immediately implementing the promised tariffs, he mentioned that Canada and Mexico would face a 25 percent duty on February 1 for goods shipped to the U.S., citing issues related to illegal immigration and drug trafficking.
On January 21, he extended the tariff threat to China, aiming for a 10 percent duty, and indicated that the European Union would also face tariffs. “We’re going to be demanding respect from other nations,” Trump stated.
The comments reflect Trump’s ongoing push to bring manufacturing jobs back to the U.S. and reshape trade relations.
Credit: The Straits Times