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January 24, 2025, 11:14 am
World

World Economic Forum 2025: Trump on oil, tariffs and taxes

Fiji One News Team
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U.S. President Donald Trump appeared remotely from USA in the World Economic forum

The panel of questioners was: Stephen A. Schwarzman, Chairman, CEO and Co-Founder of Blackstone Group, Brian Moynihan, Chair and CEO, Bank of America, Ana Botín, Executive Chair, Banco Santander, Patrick Pouyanné, Chairman of the Board and CEO, TotalEnergies, Klaus Schwab, WEF Founder, Børge Brende, WEF President and CEO.

“America is back and open for business.” Trump said in his address. “What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense.”

“My administration has also begun the largest deregulation campaign in history.” he said confidently.

ON OIL AND GAS

Ana Patricia Botin, chairwoman of the Spanish bank Santander in Davos, Switzerland, January 23, 2025. REUTERS/Yves Herman

“I terminated the ridiculous and incredibly wasteful Green New Deal. I call it the Green New Scam, withdrew from the one-sided Paris climate accord, and ended the insane and costly electric vehicle mandate.”

“The United States has the largest amount of oil and gas of any country on Earth, and we’re going to use it.”

“We’re going to let people buy the cars they want to buy.”

“I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil, you’ve got to bring it down.”

“If the price came down the Russia-Ukraine war would end immediately.”

ON INTEREST RATES

Brian Moynihan, CEO of Bank of America in Davos, Switzerland, January 23, 2025. REUTERS | Yves Herman

“With oil prices going down, I’ll demand that interest rates drop immediately, and likewise they should be dropping all over the world.”

ON TARIFFS

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.”

“If you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff. Differing amounts. But a tariff which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt.”

ON TAXES

Stephen Schwarzman, CEO and Co-Founder of Blackstone Group in Davos, Switzerland, January 23, 2025. REUTERS | Yves Herman

“Our majorities in the House and Senate, which we also took along with the presidency, are going to pass the largest tax cut in American history, including massive tax cuts for workers and family and big tax cuts for domestic producers and manufacturers. And we’re working with the Democrats on getting an extension of the original Trump tax cuts.”

ON MIGRANTS

“I’ve deployed active duty U.S. military and National Guard troops to the border to assist in repelling the invasion. It was really an invasion. We will not allow our territory to be violated after four long years.”

ON WAR AND CONFLICT

“Before even taking office, my team negotiated a ceasefire agreement in the Middle East, which wouldn’t have happened without us.”

“Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It’s so important to get that done.”

(Reporting by: REUTERS | LIVE from Davos, Switzerland, January 23, 2025. | Fiji Date comparison: January 24, 2025)