Fri, 24 Jan 2025

Davos elite nod along as Trump delivers ultimatum

President Trump's 'America First' message takes shape, as the rest of the world begins to digest what it might mean for them and global trade.
At the World Economic Forum in Davos, Switzerland, US President Donald Trump addressed world leaders and CEOs via video conference from the White House, outlining his vision for a "booming" US economy and a dominant America on the global stage. He threatened tariffs on countries that don't comply with his policies, stating that those who don't shift their factories to the US will face trillions of dollars in fines. Trump also publicly criticized Bank of America's CEO Brian Moynihan, accusing him of "debanking" conservative supporters, and suggested that Canada could become a state within the US. The address was met with a mix of reactions from delegates, who were both charmed by Trump's optimistic vision for the US economy and threatened by his aggressive rhetoric. The global community is now trying to assess how much damage Trump's policies will cause to the international trading system and whether he can deliver on his promises. While some leaders are seeking to engage in dialogue with the US, others are preparing retaliatory measures against tariffs. Meanwhile, top tech executives from companies like Amazon, Meta, Apple, and Google were in attendance at Davos, highlighting the growing competition between the US and China in the AI industry. The European Union is also taking steps to position itself as a hub for AI research, with some leaders seeing Trump's policies as an opportunity to attract top talent away from the US. The response of the global community to Trump's policies will be crucial in determining their impact on world trade and politics over the next four years and beyond.
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