President Donald Trump addressed global elites during the World Economic Forum in Davos, Switzerland, making a bold ultimatum: invest in the U.S. or face tariffs. Speaking via video link from the White House, Trump proclaimed that his administration would offer “among the lowest taxes as any nation on earth” for those willing to manufacture their products in America. He stated, “But if you don’t make your product in America… then very simply, you will have to pay a tariff,” emphasizing that this could bring "hundreds of billions and even trillions of dollars" into the U.S. treasury.

Trump's remarks came on what he described as his third full day in office, where he claimed a “massive mandate” from the American people for his agenda. He indicated that attracting investment is a priority for his administration, illustrating this with a personal anecdote regarding discussions with Saudi Arabia’s Crown Prince Mohammed bin Salman. Trump noted that the kingdom plans to invest $600 billion in the U.S. but suggested he would ask the crown prince to increase this figure to $1 trillion, sparking laughter among the audience.

The event’s host, Klaus Schwab, commended Trump’s return to Davos and confirmed that his agenda has been a significant focus throughout the discussions of the week. Trump’s address was fiercely nationalistic, clearly denigrating his predecessors while highlighting his executive actions, which he states are meant to reverse the previous administration's policies. He expressed a desire to combat challenges such as the ongoing Russia-Ukraine war, insisting it remains a high priority.

“One thing very important: I really would like to be able to meet with President Putin soon and get that war ended,” Trump stated at the forum, reiterating the urgency to halt the conflict. Additionally, he placed some blame on the OPEC+ alliance, asserting that their control over oil prices is exacerbating the war's impacts. “If the price came down, the Russia-Ukraine war would end immediately,” he claimed, indicating that the high oil prices directly benefit Moscow.

As leaders at Davos continue their discussions on vital global issues, including climate change and economic collaboration, Trump's confrontational stance sets a provocative tone for future international economic relations. His insistence on bringing manufacturing back to the U.S. and potential tariffs raises questions about the trajectory of global trade under his administration.

For more information on the insights shared at Davos, see the full coverage by Los Angeles Times and TIME.