'Make Your Product In America Or Face Tariffs': Donald Trump To World Leaders At Davos

US President Donald Trump said that lower oil prices would help end the war in Ukraine 'instantly' and called the NATO member countries to increase their defence budget to 5% of their GDP.

File photo of US President Donald Trump.

Source : X/POTUS

US President Donald Trump in his address to the World Economic Forum (WEF) in Davos told world leaders to manufacture in the United States or face tariffs. 

The Republican President made the remarks during his first address to the global leaders after his swearing-in ceremony for the second term on January 20.

"My message to every business in the world is very simple. Come make your product in America and we will give you among the lowest taxes of any nation on Earth. We’re bringing them down very substantially, even from the original Trump tax cuts," Trump said while speaking virtually at the World Economic Forum in Davos, Switzerland.

President Trump Gives Virtual Remarks to World Economic Forum 🇺🇸 https://t.co/eVJxbyEyTh

— The White House (@WhiteHouse) January 23, 2025

"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,” the President added. 

Ever since his return to the White House, Trump has said that the US could impose steep tariffs on major trading partners Canada, Mexico and China from February.

Trump also said that lower oil prices would help end the war in Ukraine instantly, which "Russia has financed in part with its vast amount of oil revenue."

"I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil, you got to bring it down, which frankly, I’m surprised they didn’t do before the election," Trump said. 

"If the price came down, the Russia-Ukraine war would end immediately," the US President added.

He also called all the NATO member countries to increase their defence budgets to 5 per cent of their GDP. 

"As we restore common sense in America, we’re moving quickly to bring back strength and peace and stability abroad," Trump said while speaking from the White House on Thursday.

“I’m also going to ask all NATO nations to increase defence spending to 5% of GDP, which is what it should have been years ago,” he added.