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Asia Today ISSN 1861-4604 Thursday, April 26, 2018

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Trump tells Davos: America first does not mean America alone

Trump played salesman-in-chief

Share on Facebook January 26, 2018, Reporter : BNN, Reader : 146

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DAVOS, Switzerland - Delivering his maiden address at the World Economic Forum in Davos, Switzerland on Friday, U.S. President Donald Trump played salesman-in-chief and declared that “America is open for business.”

On Friday, Trump became the first sitting U.S. president to attend the Davos summit since Bill Clinton attending the conference in 2000. 

In his 15-minute speech to economic and political elites gathered from across the world, Trump proclaimed, “America is open for business and we are competitive once again.”

Trump even used his speech to assuage some fears that arose after he won the election railing against “globalism” and free trade and said, “As president of the United States I will always put America first. But America first does not mean America alone. When the United States grows, so does the world.”

Trump even used the speech to tout gains in the stock market and job growth during the first year of his presidency. 

The U.S. President said, “Small business optimism is at an all-time high. There has never been a better time to hire, to build, to invest and to grow in the United States."

He said that his administration has undertaken the most extensive regulatory reduction "ever conceived." 

Trump said he was working to overhaul the international trading system, and warned that the U.S. supports free trade, "but it needs to be fair and it needs to be reciprocal." 

He said the U.S. will "no longer turn a blind eye to unfair economic practices including massive intellectual property theft, industrial subsidies, and pervasive state-led economic planning."

Commenting on the immigration issues, that recently caused a brief shutdown of the U.S. Federal government, Trump said, “Our immigration system is stuck in the past.” 

He said that the current system of extended-family migration must be replaced with a "merit-based" system of admissions that selects new arrivals "based on their ability to contribute to our economy, to support themselves financially and to strengthen our country."

Meanwhile, with Trump’s speech being focussed on economy, shortly after his speech, new economic statistics were released, showing the U.S. economy grew at a slower-than-expected 2.6 percent rate in the fourth quarter.

In his speech, Trump also took a veiled swipe at China for its alleged theft of intellectual property and practice of forcing U.S. companies to turn over their intellectual property to do business there. 

He said, "We cannot have free and open trade if some countries exploit the system at the expense of others. We support free trade, but it needs to be fair and it needs to be reciprocal.”

The president also expressed that he was open to negotiating multilateral trade agreements, including with members of the Trans-Pacific Partnership (TPP) pact that Trump pulled out of last year. 

He said, “We have agreements with several of them already. We would consider negotiating with the rest, either individually, or perhaps as a group, if it is in the interests of all."

BNN

 

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