Trump Tells Davos: Make Your Products in the US or Pay Tariffs

President Donald Trump used an address on Thursday to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the US and threatened to impose tariffs if they don't.

- Agencies

WASHINGTON/DAVOS: President Donald Trump used an address on Thursday to the World Economic Forum to promise global elites lower taxes if they bring manufacturing to the US and threatened to impose tariffs if they don't.

Speaking by video from the White House to the annual summit in Davos, Switzerland, on his third full day in office, Trump ran through his flurry of executive actions since his swearing-in and claimed that he had a "massive mandate" from the American people to bring change. He laid out a carrot-and-stick approach for private investment in the U.S.

"Come make your product in America and we will give you among the lowest taxes as any nation on earth," Trump said. "But 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 under the Trump administration."