KEY POINTS
- Trump says he expects a “very good relationship” with China.
- Praises Chinese President Xi Jinping despite past tensions.
- Seeks China’s role in resolving the Russia-Ukraine conflict.
- Pushes global businesses to manufacture in the US, threatening tariffs for non-compliance.
DAVOS, Switzerland: US President Donald Trump on Thursday expressed optimism about fostering a “very good relationship” with China, emphasising the need for fairness in relations while highlighting the potential for cooperation on global challenges, including the Russia-Ukraine conflict.
Speaking via video to the World Economic Forum in Davos, Trump praised Chinese President Xi Jinping, despite past tensions during the COVID-19 pandemic, and stated that his administration looks forward to strengthening ties with Beijing while addressing mutual concerns.
Trump said, “I always liked President Xi Jinping,” despite strained ties during his previous term over tariffs and pandemic-related tensions.
During his first administration, Trump engaged in an escalating tariffs war with Beijing, and he has threatened higher duties on the campaign trail as well.
He added, “We look forward to doing very well with China and getting along with China.”
Trump also underscored China’s potential to play a key role in resolving the Russia-Ukraine conflict, emphasising that de-nuclearization with Moscow and Beijing would remain a top priority for his administration.
Russia-Ukraine war
Trump outlined his administration’s economic and foreign policy priorities, pledging to end the Russia-Ukraine war, and implement domestic policy changes aimed at bolstering American manufacturing and reducing the national debt.
Addressing the ongoing war in Ukraine, Trump reiterated his intention to end the conflict, though he provided limited details on his approach.
“I really would like to meet with President Putin soon and get that war ended,” he said.
He linked the continuation of the war to high oil prices, claiming, “If the price came down, the Russia-Ukraine war would end immediately.”
Produce in US or face tariffs
On trade, Trump adopted a carrot-and-stick approach, urging global businesses to relocate manufacturing to the United States.
“Come make your product in America, and we will give you among the lowest taxes of any nation on earth,” he said.
“But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff.” He promised these tariffs would generate significant revenue for the US Treasury, helping to reduce the national debt.
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Trump also reiterated his criticism of Canada, citing what he described as a “tremendous deficit” in trade relations. He provocatively suggested Canada could avoid tariffs if it were to become a US state.
Domestically, Trump emphasised his intention to pressure the Federal Reserve to lower interest rates, saying, “I’ll demand that interest rates drop immediately. Likewise, they should be dropping all over the world.”
Trump also touched on social policies, declaring it “official policy” that the US recognises only two genders. He criticised gender reassignment surgeries and opposed the inclusion of transgender athletes in women’s sports.
Since his inauguration earlier this week, Trump has moved swiftly to enact his campaign promises. He reiterated his commitment to reshaping the US trade system, stating that he would impose tariffs on major trading partners, including Canada, Mexico, and China, as early as February 1.