US President Donald Trump was at Davos for the WEF summit. From bold claims about the US economy to renewed threats of tariffs, and a controversial call to acquire Greenland. Here are the key takeaways from his address:
US economy is booming
Trump opened his speech by addressing “business leaders, friends and a few enemies,” and promised to deliver “phenomenal news” from America. He said the US economy is booming and claimed the country’s border is now “closed”.
‘Europe is not heading in the right direction’
Trump was blunt in his assessment of Europe. “I don’t recognise Europe. I love Europe, I want to see it do good but it’s not going in the right direction,” he said. He compared Europe’s performance with the US, arguing that America is leading the global economy.
Big claims on trade and economic success
Trump claimed dramatic success on trade during his presidency. He said the US cut its monthly trade deficit by 77% in one year, with no inflation, despite critics saying it was impossible. “When the US goes up, you follow,” he said. He also said new trade deals now cover 40% of all US trade, including agreements with Europe, Japan and South Korea.
Oil, gas and the ‘green new scam’
Trump attacked green energy policies and his predecessor Joe Biden. He said high oil prices under Biden were caused by “green policies” and praised his own record on fossil fuels. “We avoided the Green New Scam — perhaps the greatest hoax in history,” he told.
He also criticised windmills and claimed US oil and gas production is now rising.Trump also mocked wind energy, claiming China dominates the windmill industry while avoiding wind farms at home. “China makes all of the windmills and yet I haven’t found any wind farms in China,” he said. He called China “very smart,” he added that the country makes windmills, sells them “for a fortune,” and sells them “to the stupid people that buy them.”
Sharp criticism of Europe’s energy choices
Trump targeted Germany and the UK over energy policy. He claimed electricity prices in Germany are 64% higher, and said the UK produces only one-third of the energy it made in 1999. He also said Britain has “500 years of North Sea oil” but refuses to use it, a decision he blamed for rising prices.
Greenland: “I’m seeking immediate negotiations”
Greenland became the most controversial part of the speech. Trump called it a “vast, almost uninhabited and undeveloped country, sitting undefended”, and said it is vital for global security.
“I’m seeking immediate negotiations to acquire Greenland. “He insisted the issue is not rare earth minerals, but “strategic national security and international security.”
“You can say yes… or we will remember”
Trump framed Greenland as a choice but with consequences. “You can say yes, and we’ll be very appreciative, or you can say no and we will remember.” He claimed Denmark has little presence on the island and argued that only the US can protect and develop it.
NATO: Full support, but with conditions
Trump repeated that the US would stand by NATO. “The US will be there for Nato 100%.” However, he again questioned whether allies would do the same. “We give so much and we get so little in return.” He dismissed claims that acquiring Greenland would weaken Nato.
Ukraine war: “Too many people are dying”
Turning to Ukraine, Trump said Nato must help stop the war. “They’ve got to get that war stopped because too many people are dying, needlessly dying.” He claimed both Vladimir Putin and Volodymyr Zelensky want a deal, and said he would help Europe push for peace.
Trump on tariffs
Trump defended tariffs as a fair and powerful tool. “You’re all party to them… but in the end it’s a fair thing.” He described using tariffs to force lower drug prices globally and recalled threatening French President Emmanuel Macron with higher tariffs. “Without tariffs I wouldn’t have been able to get it done.” He said the US would no longer subsidise the world and would pay only the lowest global price for medicines.
Trump also hit back at Canadian Prime Minister Mark Carney, claiming Canada “lives because of the United States.” Speaking at the World Economic Forum in Davos, he said Carney was “not so grateful,” despite the US providing “many freebies.” “Canada gets many freebies from the US and should be grateful,” Trump said. “His speech showed he wasn’t so grateful. Canada lives because of the United States, remember that, Mark, the next time you make your statements.”