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2018 World Economic Forum

President Trump: America is Great and Open for Business


President Trump: America is Great and Open for Business

Source:World Economic Forum

Before the President of the United States’ speech at the 2018 World Economic Forum in Davos, Klaus Schwab, the Executive Chairman of World Economic Forum, said that the country’s decision and action will have great effect to the entire world. Here’s the summary of U.S. President Donald Trump’s special address at the event.



President Trump: America is Great and Open for Business

By Shawn Chou
web only

At the 2018 World Economic Forum, U.S. president Donald J. Trump made a special address. He is the first sitting president to address at the event since Bill Clinton in 2000. During the speech he stressed the U.S.’s priorities and why the world should invest and grow in the U.S.

President Trump was confident of his administration’s achievement in his first year in office. “…the United States is once again experiencing strong economic growth. The stock market is smashing one record after another, and has added more than $7 trillion in new wealth since my election.” He spoke of his results in job creation and lowering unemployment rates, “African American unemployment has reached the lowest rate ever recorded in the United States.”

“The U.S. is open for business and we are competitive once again.” He called the world to grow in the United States, stressing the importance of his tax cuts. “…we’ve just enacted the most significant tax cuts and reform in American history…” He said the U.S. is great for business and investments now with fewer regulations. “We are freeing our businesses and workers so they can thrive and flourish as never before…so come to America where you can innovate, create and build.”

President Trump emphasized the priority of the United States’ interest, yet still open to collaboration. “But 'America First does not mean America alone.'” Also, he said the thriving of America is beneficial to the entire world. “American prosperity has created countless jobs around the globe and…help people everywhere live more prosperous and healthier lives.”

“We support free trade, but it needs to be fair and reciprocal.” He proposed a mutual beneficial, bilateral way of trade deals. Then he implied some countries are not playing by the rules, which is threatening the interest of the U.S. and the world.“The United States will no longer turn a blind eye to unfair economic practices, including massive intellectual property theft, industrial subsidies, and pervasive state-led economic planning.” He said the current international trading system requires reform and renegotiations.

When speaking of security, he stressed the U.S.’s effort in fighting terrorism, de-nuking and dealing with ‘rogue nations’. However, he also stated that he would like to see more investment in defense in its allies. “We are also making historic investments in the American military…we are asking our friends and allies to invest in their own defenses and to meet their financial obligations. Our common security requires everyone to contribute their fair share.”

He later addressed the country’s controversial immigration issue. He suggested the American immigration system is out-dated in today’s American economy. “We must replace our current system of extended-family chain migration with a merit-based system of admissions that selects new arrivals based on their ability to contribute to our economy…” He said he is going to secure the country’s border security, nationally and economically.

Lastly, when President Trump was asked by Executive Chairman Schwab: What experience from your past has been the most useful for preparing the presidency? He answered,“While, being a businessman has been a great experience. I’d really love business. I’ve always been good at building things. I have been successful at making money. I buy things that would be failures and turn them around…I think I have been a cheer leader to our country.”

The Text of the Full Speech: President Donald Trump's Davos address in full

Additional Reading

♦ What Two Speeches Tell Us about the Future of China and the US
Angela Merkel at Davos: we need global cooperation, not walls (World Economic Forum)
Even In the Hardest Time, Engage and Listen