DAVOS, Switzerland — President Trump invited the world to share in U.S. economic success Friday while warning in a much-anticipated address to global business leaders that he is setting tougher terms for international trade.
Trump’s keynote address to the World Economic Forum was a gentler delivery of Trump’s trademark economic populism and the trade protectionism on which he campaigned. He encouraged business investment and expansion in the United States and touted his program of tax cuts and a slashing of what he called burdensome regulations.
“America is open for business, and we are competing once again,” Trump told a packed hall, which greeted him with polite applause.
“Now is the perfect time to bring your business, your jobs and your investments to the United States.”
His argument has played well here, despite the continued broad unpopularity of Trump and many of his policies among Europeans.
Trump repeated his campaign theme of “America first,” but with a twist.
“I believe in America. As president of the United States, I will always put America first. Just like the leaders of other countries should put their countries first. But America first does not mean America alone,” Trump said.
“When the United States grows, so does the world. American prosperity has created countless jobs around the globe, and the drive for excellence, creativity and innovation in the United States has led to important discoveries that help people everywhere live more prosperous and healthier lives.”
In his public meetings here, Trump has dropped his once-frequent references to the rest of the world “laughing at” the United States while stealing its jobs. He has encouraged investment and expansion in the United States and basked in the warm reception he and his massive tax-cut package have received at this annual gathering of the world’s richest and most powerful financiers.
“I am here today to represent the interests of the American people, and to affirm America’s friendship and partnership in building a better world,” Trump said.
He took a sidelong shot at China, as he warned that the United States will not turn a blind eye to the theft of U.S. intellectual property and state-subsidized economic interference.
His trade message was familiar, but delivered without the broadsides he often employs against multilateral trade deals such as the Trans-Pacific Partnership. He withdrew the United States from that deal in the first days of his administration last year.
“We cannot have free and open trade if some countries exploit the system at the expense of others,” Trump said.
“It needs to be fair, and it needs to be reciprocal,” Trump said.
Trump has received, and reveled in, a mostly warm reception from the CEOs and international finance titans at Davos, many of whom praised the tax cut package Trump shepherded through Congress last month.
Trump noted Friday that some in his audience had supported “the opposing party” in last year’s election but are now enjoying the economic fruits of his victory.
He drew hisses and boos when he referred to “fake” news coverage but seemed to take it in stride.
“Davos has been exciting. We’re bringing a lot of things back to our country, including tremendous goodwill,” Trump said earlier Friday, as he met with Swiss President Alain Berset.
“We have a tremendous crowd, and a crowd like they’ve never had before,” Trump said Friday, as he entered the meeting hall. “It’s a crowd like they’ve never had before at Davos. I assume they’re here because of Klaus,” he added, apparent joking about forum founder Klaus Schwab, a Swiss economist, who is a celebrity among the international financial set but not otherwise widely known.
Schwab introduced Trump ahead of his speech, and drew murmurs of discontent when he warned the crowd against “biased misperception” of the U.S. president.
“It is essential for us in the room to listen directly to you,” Schwab said.
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