Trump to World Leaders: Bring Production to the U.S. or Face Tariffs

At the 2025 World Economic Forum in Davos, President Donald Trump encouraged world leaders to manufacture in the U.S., offering low tax rates as an incentive, and warned that businesses not doing so would face tariffs.

At the annual elite gathering in Davos, where world leaders, academics, and the press come together, U.S. President Donald Trump gave his remarks via videolink. Trump emphasized that companies from around the world are welcome to invest and produce in the U.S. However, if they choose to manufacture their products elsewhere and then export them to the U.S., they should expect tariffs, though he did not specify the exact rates, noting that they would vary. His message was clear: the best way to avoid tariffs is to bring production to the U.S.:

“My message to every business in the world is very simple: Come make your product in America, and we will give you among the lowest taxes of any nation on Earth.  We’re bringing them down very substantially, even from the original Trump tax cuts. 

But if you don’t make your product in America, which is your prerogative, then, very simply, you will have to pay a tariff — differing amounts, but a tariff — which will direct hundreds of billions of dollars and even trillions of dollars into our Treasury to strengthen our economy and pay down debt.”

(Remarks by President Trump at the World Economic Forum 2025)

Watch the full U.S. Presidential remarks below, along with the panelist questions from distinguished European business leaders

EU Regulatory Frustration

World Economic Forum participants expressed frustration with slow regulatory processes in the EU, especially with lengthy approval periods.

One of the panelists, Stephen A. Schwarzman CEO of Blackstone Group, contrasts this with the more efficient system in the U.S., where approval times are significantly faster, stating that “In Europe, regulatory approval can take years, while in the U.S., it’s often a matter of months."

The frustration was particularly evident in industries where time-sensitive decisions were crucial for maintaining competitive advantage. Schwarzman also highlighted how this delay in Europe often results in missed opportunities for businesses, while the quicker approval process in the U.S. allows companies to innovate and adapt more rapidly to changing market conditions.