Trump's Tariff Talk: Make in America, Reap the Benefits

President Trump addressed global business leaders, urging them to manufacture in the U.S. to avoid tariffs and benefit from low taxes. Speaking at the World Economic Forum, he emphasized a proposed 15% corporate tax rate for U.S.-based manufacturing and indicated potential tariffs on imports to bolster the economy.

President Donald Trump urged global business leaders to manufacture in the United States to sidestep tariff penalties and enjoy low taxes, during a videoconference from Washington to the World Economic Forum in Davos.

Trump warned of new U.S. tariffs at varying rates, telling a panel of business executives that producing goods in America would commit them to among the lowest taxes globally. The proposed tariff scheme aims to direct significant funds into the U.S. Treasury, strengthening the economy.

Targeting Canada and emphasizing trade balances, Trump suggested that Canada could avoid new tariffs by effectively becoming the 51st state, criticizing its trade practices. Trump also addressed the U.S.-China trade deficit and reiterated the need for a fair relationship, with no specific tariff steps outlined.

(With inputs from agencies.)