US President Donald Trump, addressing the World Economic Forum (WEF) Annual Meeting via video conference, declared the beginning of a “golden age of America” with his second term in office. He emphasized that his administration’s leadership would usher in global peace and prosperity, alongside economic growth and policy reforms aimed at making the United States stronger and wealthier.
"In a golden age of America, the entire planet will be more peaceful and prosperous as a result," Trump said. His second term began on January 20, coinciding with the opening of the WEF Annual Meeting.
Highlights from Trump’s speech
Oil prices and the Russia-Ukraine war: Trump announced plans to encourage Saudi Arabia and OPEC to cut oil prices, saying a cut would end the Russia-Ukraine war immediately.
Economic reform and tax cuts: Trump vowed to implement the largest tax cuts in American history, eliminate outdated regulations, and enforce tariffs on companies manufacturing products outside the U.S. “We will pass the largest tax cuts to help our people,” he added, reaffirming his focus on reviving the U.S. economy and prioritizing American jobs.
Energy dominance: Referring to America's vast oil and gas reserves, Trump said, "The United States has the largest oil and gas reserves in the world, and I will use them." He criticised the policies of the Biden administration, which he blamed on global food prices and inflation.
Manufacturing and technology leadership: Trump pledged to make the U.S. a global leader in manufacturing, artificial intelligence, and cryptocurrency. "I will make America the world’s manufacturing superpower and the capital of AI and crypto," he asserted.
Relations with Russia and China: Trump announced plans to meet with Russian President Vladimir Putin, focusing on ending the war in Ukraine. He stated, "This is not about the economy or natural resources but about stopping the bullets that hit human bodies." On US-China relations, Trump expressed optimism after a recent conversation with Chinese President Xi Jinping, highlighting hopes for better cooperation and a level playing field in trade.
Investment and business growth: Trump highlighted the billions of dollars in global investments pouring into America and urged businesses to align with his administration’s vision. He also warned companies refusing to manufacture in the U.S. of tariffs and stricter trade policies.
Conservative concerns: Responding to a question from Bank of America CEO Brian Moynihan, Trump addressed complaints from conservatives about banking restrictions, urging for fairer practices.