President Donald Trump Addresses the World Economic Forum
President Donald Trump Addresses the World Economic Forum
President Trump speech in Davos, Switzerland
Transcript
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Thank You class very much it's a
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privilege to be here at this forum we're
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leaders in business science art
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diplomacy and world affairs have
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gathered for many many years to discuss
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how we can advance prosperity security
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and peace I'm here today to represent
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the interests of the American people and
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to affirm America's friendship and
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partnership in building a better world
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like all nations represented at this
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great forum America hopes for a future
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in which everyone can prosper and every
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child can grow up free from violence
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poverty and fear over the past year we
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have made extraordinary strides in the
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u.s. we're lifting up forgotten
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communities creating exciting new
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opportunities and helping every American
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find their path to the American dream
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the dream of a great job a safe home and
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a better life for their children after
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years of stagnation the United States is
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once again experiencing strong economic
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growth the stock market is smashing one
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record after another and has added more
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than seven trillion dollars in new
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wealth since my election consumer
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confidence business confidence and
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manufacturing confidence are the highest
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they have been in many decades since my
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election we've created 2.4 million jobs
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and that number is going up very very
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substantially small business optimism is
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at an all-time high
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new unemployment claims are near the
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lowest we've seen in almost half a
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century african-american unemployment
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has reached the lowest rate ever
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recorded in the United States and so has
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unemployment among Hispanic Americans
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the world is witnessing the resurgence
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of a strong and
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prosperous America I'm here to deliver a
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simple message there has never been a
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better time to hire to build to invest
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and to grow in the United States America
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is open for business and we are
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competitive once again the American
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economy is by far the largest in the
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world and we've just enacted the most
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significant tax cuts and reform in
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American history
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we've massively cut taxes for the middle
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class and small businesses to let
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working families keep more of their
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hard-earned money we lowered our
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corporate tax rate from 35% all the way
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down to 21% as a result millions of
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workers have received tax cut bonuses
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from their employers in amounts as large
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as $3,000 the tax cut bill is expected
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to raise the average Americans household
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income by more than four thousand
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dollars the world's largest company
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Apple announced it plans to bring 245
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billion dollars in overseas profits home
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to America their total investment into
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the United States economy will be more
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than three hundred and fifty billion
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dollars over the next five years now is
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the perfect time to bring your business
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your jobs and your investments to the
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United States this is especially true
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because we have undertaken the most
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extensive regulatory reduction ever
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conceived regulation is stealth taxation
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the u.s. like many other countries
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unelected bureaucrats and we have
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believe me we have them all over the
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place and they've imposed crushing and
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anti business and anti worker
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regulations on our citizens with no vote
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no legislative debate and no real
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accountability
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in America those days are over I pledged
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to eliminate two unnecessary regulations
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for everyone new regulation we have
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succeeded beyond our highest
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expectations instead of two for one
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we have cut 22 burdensome regulations
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for every one new rule we are freeing
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our businesses and workers so they can
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thrive and flourish as never before we
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are creating an environment that
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attracts capital invites investment and
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rewards production America is the place
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to do business
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so come to America where you can
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innovate create and build I believe in
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America as president of the United
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States I will always put America first
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just like the leaders of other countries
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should put their country first also but
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America first does not mean America
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alone when the United States grows so
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does the world American prosperity has
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created countless jobs all around the
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globe and the drive for excellence
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creativity and innovation in the US has
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led to important discoveries that help
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people everywhere live more prosperous
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and far healthier lives as the United
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States pursues domestic reforms to
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unleash jobs and growth we are also
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working to reform the international
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trading system so that it promotes
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broadly shared prosperity and rewards to
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those who play by the rules we cannot
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have free and open trade if some
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countries exploit the system at the
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expense of others
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we support free trade but it needs to be
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fair and it needs to be reciprocal
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because in the end unfair trade
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undermines us all the United States will
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no longer turn a blind eye to unfair
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economic practices including massive
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intellectual property theft industrial
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subsidies and pervasive state-led
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economic planning these and other
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predatory behaviors are distorting the
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global markets and harming businesses
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and workers not just in the US but
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around that low just like we expect the
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leaders of other countries to protect
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their interests as president the United
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States I will always protect the
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interests of our country our companies
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and our workers we will enforce our
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trade laws and restore integrity to our
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trading system only by insisting on fair
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and reciprocal trade can we create a
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system that works not just for the US
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but for all nations as I have said the
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United States is prepared to negotiate
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mutually beneficial bilateral trade
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agreements with all countries this will
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include the countries in TPP which are
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very important we have agreements with
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several to them already we would
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consider negotiating with the rest
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either individually or perhaps as a
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group if it is in the interests of all
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my administration is also taking swift
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action in other ways to restore American
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confidence and independence we are
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lifting self-imposed restrictions on
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energy production to provide affordable
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power to our citizens and businesses and
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to promote energy security for our
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friends all around the world no country
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should be held hostage to a single
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provider of
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energy America is roaring back and now
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is the time to invest in the future of
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America we have dramatically cut taxes
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to make America competitive we are
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eliminating burdensome regulations at a
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record pace we are reforming the
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bureaucracy to make it lean responsive
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and accountable and we are ensuring our
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laws are enforced fairly we have the
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best colleges and universities in the
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world and we have the best workers in
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the world energy is abundant and
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affordable there has never been a better
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time to do business in America we are
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also making historic investments in the
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American military because we cannot have
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prosperity without security to make the
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world safer from rogue regimes terrorism
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and revisionist powers we are asking our
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friends and allies to invest in their
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own defenses and to meet their financial
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obligations our common security requires
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everyone to contribute their fair share
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my administration is proud to have led
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historic efforts at the United Nations
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Security Council and all around the
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world to unite all civilized nations in
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our campaign of maximum pressure to de
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nuke the Korean Peninsula we continue to
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call on partners to confront Iran
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support for terrorists and block Iran's
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path to a nuclear weapon we're also
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working with allies and partners to
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destroy jihadist terrorist organizations
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such as Isis and very successfully so
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the United States is leading a very
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broad coalition to deny terrorists
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control of their territory and
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populations to cut off their funding and
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to discredit their wicked ideology I am
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pleased to report that the coalition to
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defeat Isis has retaken almost 100
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percent of the territory once held by
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these killers
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in Iraq and Syria there is still more
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fighting and work to be done and to
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consolidate our games we are committed
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to ensuring that Afghanistan never again
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becomes a safe haven for terrorists who
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want to commit mass murder to our
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civilian populations I want to thank
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those nations represented here today
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that have joined in these crucial
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efforts you are not just securing your
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own citizens but saving lives and
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restoring hope for millions and millions
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of people when it comes to terrorism we
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will do whatever is necessary to protect
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our nation we will defend our citizens
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and our borders we are also securing our
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immigration system as a matter of both
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national and Economic Security America
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is a cutting-edge economy what our
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immigration system is stuck in the past
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we must replace our current system of
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extended family chain migration with a
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merit-based system of admissions that
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selects new arrivals based on their
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ability to contribute to our economy to
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support themselves financially and to
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strengthen our country in rebuilding
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America we are also fully committed to
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developing our workforce we are lifting
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people from dependence to independence
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because we know the single best
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anti-poverty program is a very simple
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and very beautiful paycheck to be
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successful that is not enough to invest
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in our economy we must invest in our
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people when people are forgotten the
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world becomes fractured only by hearing
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and responding to the voices of the
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Forgotten can we create a bright future
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that is truly shared by all the nation's
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greatness is more than the sum of its
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production
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and nation's greatness is the sum of its
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citizens the values pride love devotion
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and character of the people who call
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that nation home from my first
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international g7 summit to the g20 to
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the UN General Assembly to APEC to the
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World Trade Organization and today at
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the World Economic Forum my
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administration has not only been present
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but has driven our message that we are
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all stronger when free sovereign nations
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cooperate toward shared goals and they
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cooperate toward shared dreams
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represented in this room are some of the
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remarkable citizens from all over the
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world
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you are national leaders business Titans
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industry giants and many of the
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brightest minds in many fields each of
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you has the power to change hearts
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transform lives and shape your country's
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destinies with this power comes an
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obligation however a duty of loyalty to
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the people workers and customers who
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have made you who you are
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so together let us resolve to use our
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power our resources and our voices not
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just for ourselves but for our people to
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lift their burdens to raise their hopes
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and to empower their dreams to protect
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their families their communities their
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histories and their futures that's what
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we're doing in America and the results
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are totally unmistakable it's why new
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businesses and investment are flooding
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in it's why our unemployment rate is the
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lowest it's been in so many decades it's
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why America's future has never been
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brighter today I am fighting all of you
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to become part of this incredible future
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we are building together thank you to
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our hosts thank you to the leaders and
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innovators in the audience
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but most importantly thank you to all of
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the hard-working men and women who do
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their duty each and every day making
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this a better world for everyone
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together let us send our love and our
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gratitude to make them because they
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really make our countries run they make
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our countries great thank you and god
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bless you all
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thank you very much
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[Applause]
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thank you very much
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Thank You mr. president for this
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inspiring speech as it is tradition it's
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a form I will ask you one or two
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questions and my first question is why
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is the tax reform why has it been for
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such a high priority for your
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administration well first of all class I
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want to congratulate you this is an
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incredible group of people we had dinner
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last night with about 15 leaders of
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Industry none of whom I knew but all of
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whom I've read about for years and it
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was truly an incredible group and I
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think I have 15 new friends so this has
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been really great what you've done and
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putting it together the Economic Forum
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the tax reform was a dream of a lot of a
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lot of people over many years but they
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weren't able to get it done many people
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tried and Ronald Reagan was really the
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last to make a meaningful cut and reform
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and ours is cutting and reforming we
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emphasize cut but the reform is probably
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almost as important we've wanted to do
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it it is very tough politically to do it
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hard to believe that would be but it is
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very very tough that's why it hasn't
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been done in close to 40 years and once
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we got it going it was going and the big
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and and I wouldn't say a total surprise
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but one of the big things that happened
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and took place is AT&T; and some others
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came out very early and they said they
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were going to pay thousands and
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thousands of dollars to people that work
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for their companies and you have three
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hundred thousand four hundred thousand
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five hundred thousand people working for
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these companies and all of a sudden it
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became like a big waterfall a big
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beautiful waterfall where so many
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companies are doing it and even today
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they just announced many more but every
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day they announce more and more and now
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it's a fight for who's going to give the
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most it started at a thousand now we
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have them up to 3,000
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this is something that we didn't
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anticipate oftentimes in business things
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happen that you don't anticipate usually
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that's a bad thing but this was a good
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thing this came out of nowhere nobody
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ever thought of this as a possibility
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even twe it wasn't in the equation we
18-42
waited we said wait'll February 1st when
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the checks start coming in and people
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Klaus have a lot more money in their
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paycheck because it's not just a little
18-51
money there's a lot of money for people
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making a living doing whatever they may
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be doing and we really thought February
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1st it was going to kick in and
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everybody was going to be well we
19-01
haven't even gotten there yet and it's
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kicked in and it's had a incredible
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impact on the stock market and the stock
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prices we've set 84 records since my
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election record stock market prices
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meaning we hit new highs 84 different
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times out of a one year period and
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that's a great thing and in all fairness
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that was done before we passed the tax
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cuts and tax reform so what happened is
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really something special then as you
19-34
know and as I just said Apple came in
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with 350 billion dollars and I tell you
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I spoke with Tim Cook I said Tim I will
19-42
never consider this whole great run that
19-47
we've made complete until you start
19-50
building plants in the US and I will
19-53
tell you this moved up very
19-54
substantially but when I heard 350 I
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thought he was talking I thought they
19-59
were talking three hundred and fifty
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million dollars and by the way that's a
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nice sized plant not the greatest but
20-06
not bad
20-06
and they said no sir it's three hundred
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and fifty billion dollars I said that is
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something well we have tremendous
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amounts of money including my newfound
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friends from last night great companies
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they're all investing when one of the
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gentlemen said he's putting in two
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billion dollars because of the tax cuts
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I said to myself wow he's actually the
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cheap one in the group because they're
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putting in massive numbers of billions
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of dollars so
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I think you have a brand-new United
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States you have a United States who are
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people from all over the world are
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looking to come in and invest and
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there's just nothing like what's
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happening and I just want to finish by I
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have a group of people that have been so
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outs I have a whole lot of them so I
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won't introduce cousin Ellen self at
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least half of them but I've had a group
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of people that work so hard on this and
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other things and we're really doing we
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had a great first year so successful in
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so many different ways and there's a
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tremendous spirit when you look at all
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of the different charts and polls and
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you see as an example African American
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unemployment at the historic low that's
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never it's never had a period of time
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like this
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same with Hispanic women at a 17-year
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low it's it's very heartwarming to see
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but there's a tremendous spirit in the
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United States I would say it's a spirit
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like I have never witnessed before I've
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been here for a while I have never
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witnessed the spirit that our country
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has right now so I just want to thank
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you all and all of those that are
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pouring billions of dollars into our
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country or ten dollars into our country
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we thank you very much Thank You mr.
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president I well I will ask you maybe a
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personal question but before doing so it
22-01
sounds very interesting
22-02
Akinori I didn't know about this one I
22-04
would like to acknowledge the strong
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presence of your cabinet members yes who
22-11
tremendously contributed to the
22-13
discussions good it's a loss I would
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like to do that that's no Steven Wilbur
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Gary Robert even my general and my
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various other generals you know we're
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making our military protection a little
22-32
bit better for us too so thank you very
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much does everybody understand that I
22-36
think so thank you all for being all why
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I may be personal question would be
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what experience from your past have been
22-50
most useful in preparing you for the
22-54
presidency well being a businessman has
22-57
been a great experience for me I've
22-59
loved it I've always loved business I've
23-02
always been good at building things and
23-04
I've always been very successful at
23-05
making money I'd buy things that would
23-07
fail
23-08
that would be failures and I turn them
23-10
around and try and get them for the
23-12
right price and then I turned them
23-13
around make them successful and I've
23-15
been good at it and that takes a certain
23-17
ability and you know historically I
23-19
guess there's never really been a
23-21
businessman or businessperson elected
23-25
presidents always been a general or a
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politician throughout history it's
23-29
always been a general you had to be a
23-31
general but mostly it was politicians
23-34
you'd never have a businessman and then
23-35
in all fairness I was saying to Klaus
23-37
last night had the opposing party to me
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won some of whom you backed some of the
23-45
people in the room instead of being up
23-47
almost 50% the stock market is up since
23-51
my election almost 50 percent rather
23-54
than that I believe the stock market
23-56
from that level the initial level would
23-58
have been down close to 50% that's where
24-01
we were heading I really believe that
24-02
because they were going to put on
24-04
massive new regulations you couldn't
24-06
breathe that was choking our country to
24-07
death and I was able to see that Klaus
24-10
as a businessperson the other thing is
24-12
I've always seemed to get for whatever
24-14
reason a disproportionate amount of
24-16
press or media and not my whole life
24-22
somebody will explain someday why but
24-24
I've always gotten a lot and as a
24-27
businessman I was always treated really
24-29
well by the press you know the numbers
24-30
speak and things happen but I've always
24-32
really had a very good press and it was
24-35
until I became a politician that I
24-38
realized how nasty how mean how vicious
24-41
and how fake the press can be as the
24-44
cameras start going off in the back
24-48
but but overall I'm in the bottom line
24-51
somebody said well they couldn't have
24-53
been that bad because here we are were
24-54
president and I think we're doing a
24-56
really great job with my team I have a
24-58
team of just tremendous people and I
25-02
think we're doing a very special job and
25-04
I really believe it was time and it was
25-07
time to do that job because I don't
25-09
think the United States would have done
25-12
very well if it went through four or
25-14
eight more years of regulation and
25-17
really a very anti business group of
25-20
people we have a very pro-business group
25-23
we have regulations cut to a level in
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the history of our country class this
25-29
was reported recently in one year we've
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cut more regulations in my
25-33
administration than any other
25-36
Administration in for eight or sixteen
25-39
years in the one case we've cut more
25-41
regulations in one year and we have a
25-43
ways to go
25-44
I mean we're probably 50% done and we're
25-47
going to have regulation there's nothing
25-49
wrong with rules and regulations you
25-51
need them but we've cut more than any
25-56
administration ever in the history of
25-58
our country and we still have a ways to
26-00
go so I think between that and the
26-02
tremendous tax cuts we've really done
26-05
something and one other thing I said and
26-06
I saw it last night was some of the
26-08
leaders and the business people I think
26-12
I've been a cheerleader for our country
26-14
and everybody representing a company or
26-17
a country has to be a cheerleader or no
26-20
matter what you do it's just not going
26-22
to work and the reason I'm a cheerleader
26-24
is because it's easy because I love our
26-27
country and I think we're just doing
26-31
really well and we look forward to
26-33
seeing you in America special place and
26-37
where you are is a special place also
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thank you all very much I appreciate it
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thank you
26-44
thank you very much mr. president for
26-48
being with us sir World Economic Forum
26-52
community who is assembled here will be
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certainly and I quote you from the last
26-58
piece of your remarks will be suddenly
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be amongst a hard-working man and women
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who do serve duty each and every day
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making this world a better place for
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everyone thank you very much thank you
27-15
thank you very much everybody thank you
27-17
[Applause]
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