· 21h · on MSN
China Tones It Down at Davos This Time Ahead of Trump Tariffs
· 12h · on MSN
Trump's Davos Speech: What Time Is It and How to Watch
Invest in the US or pay tariffs, says Trump in Davos address
Saudi Arabia has reportedly promised to invest at least US$600 billion in the US. The pledge came a day after Mr Trump told a reporter that his first official trip abroad could be to Saudi Arabia – as it was in his first term – if it made substantial investments in the US.
The returning US leader also wants more money from Nato members, threatened Canada tariffs and talked about the AI race with China.
Addressing the annual meeting in Davos, Switzerland, via video from the White House, Trump described a “very good” relationship with Chinese President Xi Jinping, saying the two countries needed only to make their trade relationship “fair”,
The president's remarks follow an announcement by Saudi Arabia's Crown Prince that the kingdom will invest $600 billion in the US.
U.S. President Donald Trump said his conversation with Chinese President Xi Jinping last week was friendly and he thought he could reach a trade deal with China. The leaders of the world's two biggest economies discussed issues including TikTok,
Chinese Vice Premier Ding Xuexiang met with global finance and business leaders including Blackstone CEO Steve Schwarzman, Bridgewater Associates founder Ray Dalio and JPMorgan CEO Jamie Dimon during a private lunch in Davos on Tuesday.
“I’m pretty comfortable with the market expectations for the upcoming two meetings,” the Dutch central banker told Bloomberg TV. “I’m not convinced yet that we need to go into stimulative mode.”
President Donald Trump repeated false claims about the US trade relationship with Canada and Europe in virtual Thursday remarks to the World Economic Forum in Davos. He also delivered a smattering of other misstatements and exaggerations about trade,
China's Vice Premier Ding Xuexiang said at a meeting with Dutch King Willem-Alexander in The Hague that China stands ready to increase mutual trust and that it would work together to maintain stability and smoothness of the global supply chain.
In the U.S., the S&P 500 closed at a record 6,118.72 points on Thursday, up 0.5%. The Dow Jones Industrial Average gained 0.9% to 44,565.26, while the NASDAQ Composite edged up 0.2%. Investors responded positively to robust corporate earnings and Trumps address at Davos, where he urged for immediate global interest rate cuts.
At the World Economic Forum, Trump promises tax cuts for U.S. manufacturing and threatens tariffs. Explore his economic strategy and global implications.
The billionaire declined to share details on his sources of financing, but said private equity firms and family offices have reached out.
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