Speaking from the White House, Trump in his video message said: "Come make your product in America and we will give you among the lowest taxes of any nation on earth."
"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 warned.
My message to every business in the world is very simple.
— President Donald J. Trump (@POTUS) January 23, 2025
Come make your product in America, and we will give you among the lowest taxes of any nation on earth. But if you don't make your product in America, you will have to pay a tariff. pic.twitter.com/wDDsurmXb7
In his wide-ranging speech, Trump linked the war in Ukraine and oil prices.
Trump said he would ask Saudi Arabia and the Organization of the Petroleum Exporting Countries to cut down crude prices.
"If the price came down, the Russia-Ukraine war would end immediately," he said.
Trump's appearance in Davos drew wide applause from political and business A-listers who clearly awaited this all week.
He had made physical appearances during his first term in 2018 and 2020.
However, owing to his inauguration this time, it was tough for him to physically show up at the event.