President Donald Trump promised tariffs on all products made outside the United States on Thursday, speaking virtually before Klaus Scwhab’s World Economic Forum (WEF) in Switzerland.
Trump encouraged businesses to make their products in the United States and detailed his plans to cut taxes and impose tariffs on imports in a display of America-first populism at the globalist affair.
“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,” Trump promised. “We’re bringing them down very substantially, even from the original Trump tax cuts.”
“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,” he added.
Trump vowed that America would be the premier location on the planet for building and growing a company.
“Under the Trump administration, there will be no better place on earth to create jobs, build factories, or grow a company than right here in the good old USA,” he said.
Trump’s message comes days after he announced he would establish the External Revenue Service (ERS), which is not to be confused with the Internal Revenue Service (IRS). The “ERS” will “collect our Tariffs, Duties, and all Revenue that come from Foreign sources,” he said.
Trump’s policies incentivizing investment in America are already paying dividends. On Tuesday night, he announced that OpenAI, Oracle, and SoftBank are teaming up to invest a half-trillion dollars in AI infrastructure in the United States with a new company, Stargate.
Oracle Borad Chair Larry Ellison, SoftBank CEO Masayoshi Son, and OpenAI CEO Sam Altman said the deal would not have happened without Trump.
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