President Donald Trump used an address Thursday to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the U.S. and threatened to impose tariffs if they don’t.
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00:00My administration is acting with unprecedented speed to fix the disasters we've inherited
00:06from a totally inept group of people and to solve every single crisis facing our country.
00:12This begins with confronting the economic chaos caused by the failed policies of the
00:18last administration.
00:20Over the past four years, our government racked up $8 trillion in wasteful deficit spending
00:25and inflicted nation-wrecking energy restrictions, crippling regulations and hidden taxes like
00:32never before.
00:34The result is the worst inflation crisis in modern history and sky-high interest rates
00:39for our citizens and even throughout the world.
00:43Food prices and the price of almost every other thing known to mankind went through
00:48the roof.
00:50President Biden totally lost control of what was going on in our country.
00:54As you probably know by just reading any paper, my message to every business in the
01:01world is very simple.
01:02Come make your product in America and we will give you among the lowest taxes of any nation
01:08on earth.
01:09We're bringing them down very substantially even from the original Trump tax cuts.
01:14But if you don't make your product in America, which is your prerogative, then very simply
01:20you will have to pay a tariff, differing amounts, but a tariff which will direct hundreds of
01:25billions of dollars and even trillions of dollars into our treasury to strengthen our
01:30economy and pay down debt.
01:33Under the Trump administration, there will be no better place on earth to create jobs,
01:37build factories or grow a company than right here in the good old USA.