Trump warns Davos on unfair trade
US declared ‘open for business’
DAVOS (Reuters) — United States President Donald Trump took his “America First” message to the world’s elite last Friday, telling a summit of business and political leaders that the US would “no longer turn a blind eye” to what he described as unfair trade practices.
Trump became the first sitting US President to address the annual conclave of the rich and powerful at the Swiss ski resort of Davos for 18 years, closing the summit with a mostly upbeat speech that declared the US “open for business.”
“Now is the best time to bring your money, your jobs, your businesses to America,” he said, singling out tax cuts and curbs to regulation as boosting the investment climate.
“The world is witnessing the resurgence of a strong and prosperous America,” he added.
Trump said he would always promote “America First” as he expected other world leaders to do on behalf of their own countries, but maintained that “America First” does not mean “America alone.”
“When the United States grows so does the world,” he said, although he swiftly turned to a theme of demanding tougher enforcement of trade rules, accusing unidentified countries of unfair practices, including stealing intellectual property and providing state aid to industry.
“We will enforce our trade laws and restore integrity to the trading system. Only by insisting on fair and reciprocal trade can we create a system that works not just for the United States but for all nations,” Trump said.
“We cannot have free and open trade if some countries exploit the system at the expense of others,” he added.
Trump’s speech was mostly met by polite applause, although he drew some jeers and whistles during a question-andanswer session, when he attacked the news media.
“It wasn’t until I became a politician that I realized how nasty, how mean, how vicious and how fake the press can be,” he said.
While he has a record of opposing trade agreements involving multiple countries, he said the US would seek bilateral deals with individual states. That could include members of a Trans-Pacific trade agreement from which he has withdrawn, he said, adding he would consider negotiating with them collectively if it was in the US interest.
Before his trip to Davos, Trump imposed 30 percent tariffs on imported solar panels, among the first unilateral trade restrictions made by the administration as part of a broader protectionist agenda.