WEF 2018: Donald Trump is said to plan to invite US investment in Davos speech

Donald Trump will tout US tax cut as well as his efforts to scale back regulations that he believes unduly burden businesses

Shannon Pettypiece
Updated26 Jan 2018
Donald Trump is also expected to seek help to curb North Korea’s nuclear weapons and ballistic missle programs and combat terrorism: Photo: Reuters
Donald Trump is also expected to seek help to curb North Korea’s nuclear weapons and ballistic missle programs and combat terrorism: Photo: Reuters

President Donald Trump will on Friday declare that there’s been no better time for businesses to invest in the US, thanks to his policies.

In a speech to the World Economic Forum’s (WEF’s) annual meeting in Davos, Switzerland, the president will tout the tax overhaul he signed into law late last year that slashed the US corporate tax to 21%, as well as his efforts to scale back regulations that he believes unduly burden businesses, a senior administration official said. The aide previewed Trump’s speech, set for 8.00 am New York time, on condition of anonymity.

Trump will promote economic indicators that he argues show how well his policies are working, the official said. That’s a common refrain of Trump’s speeches. The official said Trump’s Davos speech will be remarkably brief, at only about 15 minutes.

Business leaders in Davos have backed Trump’s argument that the US is looking more attractive. Tidjane Thiam, chief executive of Credit Suisse Group AG, noted “a step up in interest” in the US, citing Ferrero SpA’s acquisition of Nestle SA’s American choclate business as an example.

“There are going to be a lot of flows into the United States,” Blackstone Group LP CEO Stephen Schwarzman said on Tuesday. “There are companies all around the world now looking at US, saying this is the place to be in the developed world.”

Trump will once again insist that US trade relationships be fair and equitable, the official said—another common theme when he speaks to international audiences. He will assert that rigorous enforcement of trade abuses is the best way to restore and preserve the integrity of global commerce, the official said.

He’ll also again call for foreign leaders to help the US curb North Korea’s nuclear weapons and ballistic missile programs, and to combat terrorism. Bloomberg

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