At WEF 2025, Trump pledges major tax cuts for businesses manufacturing in America and issues a stark warning of tariffs for those who don’t.
Davos [Switzerland], January 24: US President Donald Trump has issued a call to businesses worldwide, urging them to manufacture their products in the United States while warning of hefty tariffs for those who choose otherwise. Speaking virtually at the World Economic Forum (WEF) in Davos on Thursday, Trump promised substantial tax cuts for companies opting to shift their production to American soil.
“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,” Trump declared. “We’re bringing them down very substantially, even from the original Trump tax cuts.”
For companies unwilling to manufacture in the US, Trump had a stark warning.
“If you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff. This tariff will channel hundreds of billions, even trillions, of dollars into our treasury to strengthen our economy and pay down debt,” he said.
“No Better Place Than the USA”
Trump touted the US as the ideal location for businesses, emphasizing job creation, factory building, and corporate growth under his administration.
“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,” he affirmed.
Tough Stance on Canada
Referring to trade relations with Canada, Trump criticized the longstanding trade deficit, which he pegged at USD 200-250 billion, labeling it unfair.
Trump reiterated his controversial suggestion of making Canada the 51st US state to eliminate trade imbalances and avoid imposing tariffs.
“Canada has been very tough to deal with over the years. It’s not fair that we should have a 200 billion or 250 billion deficit,” Trump said. “As I’ve said before, Canada can always become a state. Then we wouldn’t have a deficit, and we wouldn’t need to tariff them.”
He added that the US has become self-reliant in key industries, minimizing its need for Canadian products.
“We don’t need them to make our cars—they make a lot of them. We don’t need their lumber because we have our own forests. And we don’t need their oil and gas. We have more than anybody,” he asserted.
Tariff Plans for Mexico and Canada
Trump recently announced plans to impose 25% tariffs on imports from Mexico and Canada, further escalating trade tensions. The US President has often argued that stronger trade measures are essential to ensure fair competition and economic growth for America.
The World Economic Forum in Davos, held from January 20-24, serves as a platform for global leaders to discuss pressing economic, environmental, and political issues. Trump’s speech highlighted his administration’s ongoing push to prioritize American interests in global trade policies.
Tags: Donald Trump, World Economic Forum, manufacturing, tariffs, US economy, trade relations, Canada-US trade, Trump tax cuts, global economy
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