US President Pushes Pro-America Policies
In his first global address since beginning his second term, US President Donald Trump urged OPEC to lower oil prices and demanded global interest rate reductions. Speaking via video at the World Economic Forum in Davos, Switzerland, Trump warned foreign leaders and businesses that they face tariffs if they manufacture products outside the US. “Interest rates should drop immediately across the world,” Trump said. He also called for Saudi Arabia and OPEC to bring down oil costs.
Economic Impacts and Market Reactions
As Trump spoke, oil prices turned negative, while the US dollar fluctuated. The S&P 500 neared an all-time high, signaling mixed market reactions. Trump emphasized his commitment to transforming the US economy into a hub for artificial intelligence, cryptocurrency, and fossil fuel production, while promising deregulation, tax cuts, and tariffs to reduce inflation.
#WATCH | At World Economic Forum, US President Donald Trump says, “…I am also going to ask Saudi Arabia and OPEC (Organization of the Petroleum Exporting Countries) to bring down the cost of oil. You have to bring it down which, frankly, I am surprised they didn’t do before the… pic.twitter.com/cirh3b55M0
— ANI (@ANI) January 23, 2025
Trade Threats and Criticism of Allies
Trump renewed his tough stance on trade, targeting traditional US allies like Canada and the European Union, criticizing their trade surpluses with the US, and threatening new tariffs. “Respect from other nations will be demanded,” Trump stated. He also criticized former President Joe Biden’s policies on climate change and diversity.
Global Policies and Controversial Proposals
Trump expressed interest in talks with Russian President Vladimir Putin on nuclear arms reduction, while simultaneously proposing to rename the Gulf of Mexico as the “Gulf of America” and threatening to take back the Panama Canal. These statements were met with skepticism from Davos attendees, who voiced concerns about the shift from global cooperation to protectionist policies.
Pardons and Domestic Initiatives
Domestically, Trump has taken swift actions, including dismantling diversity programs, expanding domestic energy production, and pardoning over 1,500 individuals involved in the January 6 Capitol attack. These moves have sparked criticism and outrage among lawmakers and law enforcement officials.
#WATCH | At World Economic Forum, US President Donald Trump says, “…The United States has the largest amount of oil and gas of any country on earth and we are going to use it. Not only will this reduce the cost of virtually all goods and services, it will make the United States… pic.twitter.com/s5qiIxyLzw
— ANI (@ANI) January 23, 2025
As Trump shapes his second-term policies, his remarks at Davos reaffirm a departure from free-market norms, focusing on an “America First” agenda that has left many global leaders divided.
