International Desk //

US President Donald Trump has urged global businesses to produce their products in the United States. He said that if they produce their products elsewhere, they will be subject to tariffs when they are exported to the United States.

Trump made the warning while joining a video call at the World Economic Forum in Davos, Switzerland, on Thursday (January 23) local time.

Joining the video call from the White House, Donald Trump outlined his plans to cut taxes, deregulate industries and crack down on illegal immigration.

He said, “Make your products in the United States. We will pay the lowest taxes of any country in the world. But if you don’t make your products in America, you will simply have to pay tariffs.”

He said he would ask Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to reduce crude oil prices.

Trump made a connection between the war in Ukraine and oil prices in his speech. The new US president said, “If prices go down, the Russia-Ukraine war will end immediately.”

Trump also gave a message to central banks in his speech. He said he would demand an immediate cut in interest rates.

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