If not manufacturing in America, pay tariffs: Trump warns global firms at Davos 2025

Trump’s comments mark the beginning of a long-anticipated clash between Trump and the EU over the bloc’s big tech crackdown.

US President Donald Trump on January 23 reiterated his position on tariff and warned that companies not manufacturing in America but importing goods will have to pay duties.

"If you are not making in America, which is your prerogative, then you will have to pay a tariff," Trump said at the World Economic Forum 2025 in Davos.

"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 further said "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 repeated some of the statement from his inaugural speech on January 20. The President said he will reverse some of the "radical left policies" of the previous Biden administration and promised to cut taxes for domestic manufacturers and working class families to ensure more money in their 'pockets'.

Trump also announced that he has announced "national energy emergency" and sent troops to the border to stop illegal immigration, while he has also temporarily halted funds for vulnerable groups and federal government hirings. "These steps will help curb inflation," he said.

He also pointed out that the Saudi Arabia's crown prince Mohammad Bin Salman has announced "$600 billion" investment, for which he is glad. Trump also said that he will ask Saudi Arabia and the OPEC to bring down the crude oil prices, which will help in stopping the war between Russia and Ukraine.

Moreover, the President claimed that Europe has been unfair to the US and it will ask the NATO countries to increase their spending on defence.

"I will ask all NATO nations to increase their defence spending to 5 percent of their GDP," he said.