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Source: YouTube, CNBC; Compiled by: Deng Tong, Bitchain Vision
President Donald Trump spoke at the World Economic Forum in Davos, Switzerland on Thursday, his first international appearance since returning to the White House earlier this week.
In a 45-minute speech, Trump criticized European regulators for being too harsh on U.S. tech companies, oil producers keeping oil prices at too high levels and large banks’ refusal to serve conservatives.
He also called on countries around the world to invest in the United States and promised a low tax rate and a looser regulatory structure.
Domestic, Trump said he had put pressure on the Fed on interest rates.
“I would ask for an immediate lower interest rate,” Trump said.”Similarly, interest rates around the world should also fall. Interest rates should follow us.”
It is generally believed that Trump’s remarks are the opening remarks of his upcoming lobbying campaign against Federal Reserve Chairman Powell.
The full text of Trump’s speech was compiled by Bitchain Vision as follows:
Klaus schwab, founder of the World Economic Forum:
Hello Mr. President, I am very honored and happy to welcome you to the Davos family. You have only been in office for four days. We thank you very much for your arrival today and we wish you all the best.The global challenges we face today are enormous in taking on the critical work of the future, and the leadership in the United States and your personal leadership in this area are crucial, and we are here to hear you on revitalizing the economy and addressing global challengesvision and policy.As you would expect, Mr. President, you’re back to the office, and the policy you’re about to introduce has been the focus of our discussion this week.So, 3,000 political and business leaders from over 130 countries gathered in Davos and we look forward to hearing you first.
Klaus schwab, founder of the World Economic Forum
Trump:
Thank you very much Claus, beautiful Davos!
US President Trump
Hello everyone, this is a truly historic week in the United States. After I was sworn in 3 days ago, we ushered in the golden age of the United States. The recent presidential election won with millions of votes and all seven states won.This is a massive mandate by the American people, and has never seen it in years, some political critics, and even some of my so-called enemies, say it is the most important election victory in 129 years.
What the world has witnessed in the past 72 hours is nothing more than a common sense revolution, our country will soon be stronger, richer, and more united than ever before, and the entire planet will be more peaceful and prosperous. This is incrediblethe result of momentum.
My government is taking action at an unprecedented speed to address the disasters we inherit from a group of totally incompetent people, and every crisis facing our country.First of all, face the economic chaos caused by the previous administration’s failed policies over the past four years, our government wasted $8 trillion in deficit spending and implemented energy restrictions that undermine the country, strict regulations and implicit taxesThe result is unprecedentedly the worst inflation crisis in modern history, interest rates for our citizens and even the world are absurdly high, food prices and almost everything else known to humans have soared, President Biden has completely lost control of what is happening in our country, especially in our highInflation economy and border issues.
Due to these disruptive policies, total government spending this year is $1.5 trillion higher than I expected when I left office four years ago, and similarly, the cost of repaying debt is more than 230% higher than the 2020 forecast, which we inherited The inflation rate is still 50% higher than the historical target, which may be the highest inflation rate in my country’s history.That’s why from the moment I took office, I acted quickly to reverse every radical left-wing policy that caused this disaster, especially immigration crime and inflation.On the first day, I signed an executive order directing each of my cabinet members to mobilize all the power they hold to defeat inflation and reduce the cost of daily living, and I implemented federal recruitment freezes, federal regulations freezes and foreign aidFreeze, I created a new government efficiency department, and I ended absurd and incredible waste.
Green New Deal, I call it Green New Scam,Withdraw from the one-sided Paris Climate Agreement and ends the crazy and expensive electric vehicle authorization, we will let people buy the cars they want to buy.I declare a national energy emergency, which is very important. The national energy emergency is to release liquid gold under our feet and pave the way for the rapid approval of new energy infrastructure. The United States has the most oil and gas on the planet and we will use it,This will not only reduce the cost of nearly all goods and services, but will also make the United States a manufacturing superpower and the world capital of artificial intelligence and cryptocurrencies.
My government has also begun the largest deregulation campaign in history, far exceeding my record-breaking efforts in my last term, the Biden administration has added $50,000 in additional regulatory costs to the average American household over the past four years.I promise to repeal 10 old regulations for every new one repeal, which will soon bring thousands of dollars back in the pockets of American families, further freeing our economy.
We will pass the largest tax cuts in U.S. history, including massive tax cuts for workers and their families, as well as substantial tax cuts for domestic producers and manufacturers.We are working with the Democrats to extend the initial tax cuts, and you may just read any newspaper and know that the message I convey to every business in the world is simple, come to the United States to produce your products, we will giveYour lowest tax rate in any country in the world.We are significantly lowering tax rates, even lower than the initial tax cuts, but if you don’t produce your products in the US, it’s your privilege, then it’s simple, you’ll have to pay different amounts of tariffs, but the tariffs willGuide hundreds of billions of dollars, even trillions of dollars, into our treasury, to strengthen our economy and repay debts.
Under the Trump administration, there is no better place on the planet than the United States to create jobs, build factories or develop companies.This can already be seen by the American economy, and American economic confidence is soaring.Just announced that small business optimism has soared 41 percentage points in a month, the highest ever, and never had anything like this.SoftBank announced $100 billion to $200 billion in the U.S. economy because of the election results, just two days ago, Oracle SoftBank and Open AI announced $500 billion in AI infrastructure, and other companies announced billionsThe investments in US dollars, billions of dollars, billions of dollars combined, trillions of dollars in the United States,
Today’s newspaper also reported that Saudi Arabia will invest at least $600 billion in the United States, but I would ask the Crown Prince to round the number to around $1 trillion, he is a great guy, I think they will do it becauseWe are very good to them and I will also ask Saudi Arabia and OPEC to lower the oil costs and you have to lower the price.If oil prices drop, the Russian-Ukrainian war will end immediately.Oil prices are now high enough that the war will continue.You have to lower oil prices, you have to end the war.They actually have a lot of responsibility for what is happening to some extent.I would ask for immediate lower interest rates, and likewise, interest rates around the world should also fall.
Everything you see is because we have recently achieved a historic victory in the presidential election, which is well known all over the world and I think a lot has happened in many countries.They say the whole world has shined since the election, and even those countries we are not particularly friendly are happy because they understand what the future is like and how wonderful the future will be under our leadership.The United States is back and open to commerce.
I also took quick action this week to stop illegal immigration on the southern border.I decided to declare a national emergency at our border and immediately stop all illegal crossings from entering the country.The illegal crossing of the border will begin to quickly return to the place where they came.You may have seen that this action has begun, very powerfully, has deployed active American military personnel and National Guard to the border to assist in repelling the invasion, which is a real invasion and we will not allow our territory to be in four years longBeing violated after years.The United States is a strong, sovereign and beautiful country, and it has once again become a strong, sovereign country.
Furthermore, I am pleased to announce that the United States is also a free country.On the first day I signed an executive order to stop all government scrutiny and our government will no longer label our own citizens’ speeches with misinformation or false information, which are sensors and those who wish to stop free exchange of ideasAnd the favorite word of the candid progressive people, we saved America’s freedom of speech, and we saved it strongly this week with another historic executive order.
I also ended the weaponization of law enforcement against the American people and frankly against politicians, restoring the rule of law with fairness, equality and impartiality, and my administration has taken action to abolish all discriminatory diversity, fairness and inclusion.These policies are absolutely nonsense throughout the government and the private sector, and with the recent but somewhat unexpected major ruling just made by the Supreme Court, the United States will once again become a merit-based country and you have to hear ” merit-basedThe word country.
I have officially announced the official policy of the United States, which is only two genders, males and females, we will not have men participating in the women’s sports, and the once popular transgender actions will be very rare.
Ultimately, as we restore common sense in the United States, we will act quickly to restore strength, peace and stability abroad,I will also ask all NATO countries to increase defense spending to 5% of GDP, this should have been achieved a few years ago, at that time it was only 2%.Most countries did not pay these military expenses before I took office, and I insisted that they pay, and they did pay, because the United States did pay the difference at that time.This is not fair to the United States, but many things have been unfair to the United States for many years.Even before I took office, my team had negotiated a ceasefire agreement in the Middle East, which wouldn’t have been possible without us.Earlier this week, the hostages started returning to their families, and they were back, a beautiful place that they would be back more and more.
Our efforts to ensure a peaceful settlement between Russia and Ukraine are now hopeful that it will be underway and it is very important to accomplish this.It was an absolute killing field, millions of soldiers were killed, no one had seen such a thing since World War II, their bodies were lying on flat fields, a flat farmland where millions of Russians andWith millions of Ukrainians, no one has seen such a thing since World War II, it’s time to end it.
In the United States, we have big events next year, and the United States will celebrate its 250th anniversary. I am honored to be president, a major event they have been talking about for 10 years.We also have the World Cup and then we are about to host the Olympics, which is also a key role played in my first term, who would know that I can get the Olympics by skipping one term.I will be president during the World Cup, Olympics and the 250th anniversary, so it will be three big events, we have done more in less than four days, we actually worked for four days, more than other governments inMore than ones will be completed within four years.
We are just beginning and it is amazing to see the spiritual outlook and radiance of our country.Our country suffered a huge loss under the leadership of the previous administration, but we will be back to make it stronger and better than ever.I heard that the audience is great, many of my friends are in the audience, and I will now answer some very outstanding people’s questions, thank you very much, thank you very much.
Q&A session:
Blackstone CEO Stephen Schwarzman
Stephen Schwarzman, CEO of Blackstone:Mr. President, thank you for your very powerful speech, I think you can hear applause from Davos to the White House.So we welcome you to continue to join us next year, thank you very much.My question is,Something I’ve observed in Davos: There are a lot of European business people who have expressed great dissatisfaction with the EU’s regulatory system, and they believe there are many reasons for the slowdown in economic growth here, but mainly because of regulation.And you have taken a completely different approach in this area, and I would be grateful if you could explain the theory of what you are doing, thank you very much.
Trump:I want to talk about the EU because you specifically mentioned that I also have a lot of friends and national leaders who I met during my first term.I know them very well and like them very much, but they are very frustrated.Because it seems like everything takes time to get approved environmental impact statements that you shouldn’t have done.Because there are many other ways to replace declarations.Let me give you a simple example. In my private life, I live a simple and beautiful life.But when I was living a simple life I did some projects and I had a big project in Ireland and it had to be approved and that would make it better and I got approval in a week and thisIt is a very, very effective approval.They told me that the biggest problem is that you have to get approval from the EU, and we think it will take five to six years.I said you must be kidding, I don’t want to spend five or six years, but it will be a big investment, it will be good, it will be good for the project, I send someone to the EU and see if they can speed it upspeed.I realized it was my first time actually involved in EU affairs, but I realized it was a problem and I was too lazy to apply.
If I do, I will withdraw it very quickly because you can’t wait five or six years to get approval.So many people claim from a very large business perspective that this is a problem with the United States. The EU is very unfair to us and it is very bad. They have a huge tax system that we know and are levied on VAT, which is a very considerabletax.They don’t accept our produce, they don’t accept our cars, but they give us millions of cars, and they impose tariffs on what we want to do.They want to sell their products in the US, so we have a deficit of hundreds of billions of dollars with the EU and no one is happy with that, what will we do about it.
I think the EU must speed up their approval processSome of my friends are in some countries in the EU and they are all great people and they hope to compete better.If you can’t pass the approval process quickly, you can’t compete.They impose VAT and all other taxes on the United States, very, very unfair, and we have some very big complaints about the EU.
Patrick Pouyanne, CEO of TotalEnergies
Patrick Pouyanne, CEO of TotalEnergies:I am honored to represent the energy industry in this group tonight. Total Energy is indeed the fourth largest natural gas and electricity company in the world, and I will not ask you questions about oil prices.We are LNG exporters from the United States and we are a strong contributor to the Mamu energy project in Texas, and we invested $20 billion, which, while well below $220 billion, also $20 billion.We have contributed to the security of supply in Europe through these investments, as we export these energy to Europe, and some experts are concerned,If the United States develops too many projects on liquefied natural gas, it may have an inflationary impact on domestic gas prices in the United States, they recommend taking a stance on the project.I want to ask you the following questions,What do you think of this position of U.S. energy investment, and what happens if you find that domestic natural gas prices are rising due to exports?The last question is important to Europe. Do you agree to ensure the safety of US energy supply to Europe?
Trump:For your last question, yes, I will make sure it is safe and we will reach an agreement.LNG is very interesting because when I took my first term, I first thought about two, Louisiana has two very large factories, which is very good for me.I’m actually very grateful for it, they say there are two factories that have been under environmental considerations for over 10 years and they cost as you say, you know how expensive these factories are, but they cost about $12 billion, IIt’s $14 billion or $15 billion, but they can’t get a license, they’ve been scrutinized for many years, about ten years or more.I said this is ridiculous.The total investment you mentioned is $25 billion to $30 billion, and it looks like it’s about to end, they can’t get the license, I’ve done it in less than a week.
What I want to see is that we will quickly approve these reviews in the United States, just like the AI program, a lot of people want to build them, and it will be a big deal, we will build power generation facilities, I will be under an emergency statementThey were approved.I can get approval myself without having to wait for years, the biggest problem is,We need to double the current energy in the United States,Can you imagine that artificial intelligence is really as great as we want it to be, because it is very competitive, it will compete with China and other countries.
If an emergency occurs, coal is very strong as a backup force, having the facility is a good backup, it won’t cost much money, we have more coal than anyone, and we have more oil and gas than anyone else, so we will make these plants have their own power generation facilities and connect directly to their plants, they don’t have to worry about utilities, they don’t have to worry about anything, we will approve very quickly.
(Brian BAC Moynihan, CEO of Bank of America)
Brian BAC Moynihan, CEO of Bank of America:Good afternoon, Mr. President, congratulations, obviously this is an eventful week for you and your family, if you remember you came here 5 years ago, we did it with 50 CEOs from all over the worldCommunication, you discussed your policies and procedures with them.As you mentioned earlier, a series of orders on immigration, trade and many other issues followed, so as the representative of the United States, we received a lot of questions.The president is concerned with growth, prosperity, market growth, stock market growth, good bond markets and lower prices, so how do you view the impact of these orders?How fast are they released?How will you balance them?While maintaining sustained GDP growth, reducing inflation, while maintaining a good stock price, reducing corporate tax to 21%?
Trump:Actually, if you look at states and cities, in many cases,The corporate tax is well above 40%, I’ll cut it to 21%, and now we’ll drop it from 21% to 15%.If you make products in the United States, you will have the lowest tax rate, almost the lowest, and the lowest among the big country.You know, a wealthy and powerful country, so far, there is no competition, so we’re going to drop it to 15%.
We are actually cutting taxes for businesses and small businesses and will reduce it to 15%.This is really a great thing.By the way, you’ve done a great job when it comes to you, but I hope you start opening your bank to conservatives because many conservatives complain that banks don’t allow them to do business inside the bank, including one called Bank of Americaplace.
(Anna Puding, Executive Chairman of Santander Bank)
Anna Pudding, Executive Chairman of Santander Bank:Mr. President, congratulations to us on our historic victory, and I believe you don’t know me as much as my colleagues, so give some introductions here.Santander is one of the largest banks in the world, with 170 million by number of customers, which is more than what my friends Brian or Jamie have.They are fixing upcoming regulation, which is tricky, we are big investors in the U.S., we have millions of customers, 12,000 employees, we are one of the largest auto lenders, and we recently launched an open banking company called Open BankingThe full digital banking, we firmly believe that banks play a key role in the economy, and we can accelerate growth and help more customers, and that’s what we do in the United States.So as Brian pointed out,We highly welcome your focus on deregulation and reducing bureaucracy.So my question is, what are your priorities in this regard?How fast will this happen?
Trump:Thank you so much!I know your bank very well and you do a great job.We will act quickly, we act very quickly, and over the past three days we have done something that no one thought could be done for years and everything is taking effect.It will have a huge impact on the economy, have a huge positive impact, and money is wasted on crazy things, and I mean the Green New Deal is a total shame.I have to add that they have never even taken energy or environment classes, it’s just a game.
You know, in the four years I was in power, our air was the cleanest and our water was the cleanest, but our economy was the most productive in history.In fact, you can look at the world, we defeated all countries.One thing we need to do is we need to demand respect from other countries.For example, Canada, we have a huge deficit with Canada, and we won’t do that anymore.Canada has been hard to deal with for years, and we have a deficit of $200 billion or $250 billion, which is unfair.We don’t need them to build our cars, we don’t need their wood, we don’t need their oil and gas.
We’re dealing with Mexico and I think it’s good, we just want to be treated fairly with other countries.Politicians are allowing other countries to take advantage of us, we can’t allow this to happen anymore, you know we have debt, it’s a small debt.We just want to eliminate debt, we will be able to do it fairly quickly, a lot of good things will happen, and honestly, good things will happen in the world, and good things will happen to the people we deal with.
I really want to meet President Putin as soon as possible to end this war, not from an economic or any other perspective, but from the perspective of millions of lives being wasted.Young people were shot in the battlefield, you know the bullets were on very flat land, as I said, the bullets were not hidden, the only thing that could block the bullets was the human body, you have to see, it was a massacre, we reallyThis war must be stopped.This does not include the people who died after the city was destroyed and buildings were destroyed, so we really should stop this.
The same is true in the Middle East, I think we have made a lot of progress in the Middle East and I think it will make a good progress.
Borge Brende, CEO of the World Economic Forum
Borge Brende, CEO of the World Economic Forum:Thank you, Mr. President, we know that the most important relationship in the world is the relationship between the United States and China. We account for 28% of the global economy, and China is close to 20%, accounting for almost half of the global GDP.How do you view the relationship between the United States and China under your leadership in the next four years?
I think we will have a very good relationship, what we want is fair, we just want a level playing field, we don’t want to take advantage of it.Biden’s $1.1 trillion deficit is ridiculous, it’s just an unfair relationship and we have to make it fair.
In fact, in many Asian countries, our deficit is very large and we cannot continue to do so.We have always maintained a good relationship with China, and we look forward to maintaining good relations with China, and hope that China can help us stop the war with Russia and Ukraine.They have a great influence on the situation and we will work with them.We hope to denuclearize with President Putin before the election results are announced.
Borge Brende, CEO of the World Economic Forum: Mr. President, will Ukraine and Russia reach a peace agreement?
Trump:If I were the President of Ukraine, this war shouldn’t have begun.There was no war during my tenure, and I never even talked about it.But when I stepped down, bad things happened.The final result is that these bombed cities now look like demolition sites, and many people are dead. I think you will see that Ukraine has far more deaths than reported.I’ve seen it, when you see a city turned into a demolition site, a building was destroyed by missiles, and a lot of people were killed, I’m surprised how that has something to do with me.I think you’ll find that more people died in the Ukrainian war than anyone thought, but if you look at it now, many of the people killed were soldiers, they were holding guns, rifles and drones, new formsWar drones…this is a very sad thing.
