President Donald Trump Addresses the World Economic Forum
Release Date: 01/26/2018
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info_outlinePresident Donald Trump Addresses the World Economic Forum
President Trump speech in Davos, Switzerland
Transcript
00-00
Thank You class very much it's a
00-01
privilege to be here at this forum we're
00-03
leaders in business science art
00-06
diplomacy and world affairs have
00-08
gathered for many many years to discuss
00-12
how we can advance prosperity security
00-15
and peace I'm here today to represent
00-18
the interests of the American people and
00-20
to affirm America's friendship and
00-23
partnership in building a better world
00-26
like all nations represented at this
00-30
great forum America hopes for a future
00-33
in which everyone can prosper and every
00-36
child can grow up free from violence
00-38
poverty and fear over the past year we
00-43
have made extraordinary strides in the
00-46
u.s. we're lifting up forgotten
00-49
communities creating exciting new
00-51
opportunities and helping every American
00-53
find their path to the American dream
00-56
the dream of a great job a safe home and
01-00
a better life for their children after
01-03
years of stagnation the United States is
01-07
once again experiencing strong economic
01-11
growth the stock market is smashing one
01-15
record after another and has added more
01-18
than seven trillion dollars in new
01-21
wealth since my election consumer
01-24
confidence business confidence and
01-27
manufacturing confidence are the highest
01-30
they have been in many decades since my
01-34
election we've created 2.4 million jobs
01-38
and that number is going up very very
01-42
substantially small business optimism is
01-46
at an all-time high
01-47
new unemployment claims are near the
01-50
lowest we've seen in almost half a
01-53
century african-american unemployment
01-56
has reached the lowest rate ever
01-58
recorded in the United States and so has
02-02
unemployment among Hispanic Americans
02-07
the world is witnessing the resurgence
02-10
of a strong and
02-12
prosperous America I'm here to deliver a
02-16
simple message there has never been a
02-18
better time to hire to build to invest
02-22
and to grow in the United States America
02-25
is open for business and we are
02-28
competitive once again the American
02-31
economy is by far the largest in the
02-34
world and we've just enacted the most
02-37
significant tax cuts and reform in
02-40
American history
02-42
we've massively cut taxes for the middle
02-45
class and small businesses to let
02-47
working families keep more of their
02-50
hard-earned money we lowered our
02-54
corporate tax rate from 35% all the way
02-57
down to 21% as a result millions of
03-02
workers have received tax cut bonuses
03-04
from their employers in amounts as large
03-07
as $3,000 the tax cut bill is expected
03-12
to raise the average Americans household
03-15
income by more than four thousand
03-17
dollars the world's largest company
03-20
Apple announced it plans to bring 245
03-24
billion dollars in overseas profits home
03-28
to America their total investment into
03-31
the United States economy will be more
03-33
than three hundred and fifty billion
03-36
dollars over the next five years now is
03-39
the perfect time to bring your business
03-42
your jobs and your investments to the
03-46
United States this is especially true
03-49
because we have undertaken the most
03-51
extensive regulatory reduction ever
03-55
conceived regulation is stealth taxation
04-01
the u.s. like many other countries
04-05
unelected bureaucrats and we have
04-08
believe me we have them all over the
04-11
place and they've imposed crushing and
04-13
anti business and anti worker
04-15
regulations on our citizens with no vote
04-19
no legislative debate and no real
04-22
accountability
04-24
in America those days are over I pledged
04-28
to eliminate two unnecessary regulations
04-32
for everyone new regulation we have
04-36
succeeded beyond our highest
04-39
expectations instead of two for one
04-43
we have cut 22 burdensome regulations
04-47
for every one new rule we are freeing
04-52
our businesses and workers so they can
04-54
thrive and flourish as never before we
04-58
are creating an environment that
05-00
attracts capital invites investment and
05-03
rewards production America is the place
05-07
to do business
05-09
so come to America where you can
05-11
innovate create and build I believe in
05-16
America as president of the United
05-19
States I will always put America first
05-23
just like the leaders of other countries
05-27
should put their country first also but
05-32
America first does not mean America
05-36
alone when the United States grows so
05-40
does the world American prosperity has
05-43
created countless jobs all around the
05-46
globe and the drive for excellence
05-49
creativity and innovation in the US has
05-52
led to important discoveries that help
05-55
people everywhere live more prosperous
05-58
and far healthier lives as the United
06-03
States pursues domestic reforms to
06-06
unleash jobs and growth we are also
06-08
working to reform the international
06-11
trading system so that it promotes
06-14
broadly shared prosperity and rewards to
06-16
those who play by the rules we cannot
06-21
have free and open trade if some
06-25
countries exploit the system at the
06-27
expense of others
06-30
we support free trade but it needs to be
06-34
fair and it needs to be reciprocal
06-38
because in the end unfair trade
06-41
undermines us all the United States will
06-45
no longer turn a blind eye to unfair
06-48
economic practices including massive
06-51
intellectual property theft industrial
06-54
subsidies and pervasive state-led
06-57
economic planning these and other
07-01
predatory behaviors are distorting the
07-04
global markets and harming businesses
07-07
and workers not just in the US but
07-09
around that low just like we expect the
07-13
leaders of other countries to protect
07-15
their interests as president the United
07-19
States I will always protect the
07-21
interests of our country our companies
07-24
and our workers we will enforce our
07-28
trade laws and restore integrity to our
07-31
trading system only by insisting on fair
07-34
and reciprocal trade can we create a
07-37
system that works not just for the US
07-41
but for all nations as I have said the
07-45
United States is prepared to negotiate
07-48
mutually beneficial bilateral trade
07-51
agreements with all countries this will
07-54
include the countries in TPP which are
07-57
very important we have agreements with
08-00
several to them already we would
08-03
consider negotiating with the rest
08-05
either individually or perhaps as a
08-08
group if it is in the interests of all
08-13
my administration is also taking swift
08-17
action in other ways to restore American
08-20
confidence and independence we are
08-23
lifting self-imposed restrictions on
08-27
energy production to provide affordable
08-29
power to our citizens and businesses and
08-31
to promote energy security for our
08-35
friends all around the world no country
08-38
should be held hostage to a single
08-41
provider of
08-42
energy America is roaring back and now
08-47
is the time to invest in the future of
08-49
America we have dramatically cut taxes
08-53
to make America competitive we are
08-56
eliminating burdensome regulations at a
08-59
record pace we are reforming the
09-02
bureaucracy to make it lean responsive
09-05
and accountable and we are ensuring our
09-08
laws are enforced fairly we have the
09-13
best colleges and universities in the
09-15
world and we have the best workers in
09-17
the world energy is abundant and
09-20
affordable there has never been a better
09-22
time to do business in America we are
09-25
also making historic investments in the
09-29
American military because we cannot have
09-31
prosperity without security to make the
09-34
world safer from rogue regimes terrorism
09-37
and revisionist powers we are asking our
09-40
friends and allies to invest in their
09-43
own defenses and to meet their financial
09-46
obligations our common security requires
09-51
everyone to contribute their fair share
09-54
my administration is proud to have led
09-57
historic efforts at the United Nations
09-59
Security Council and all around the
10-02
world to unite all civilized nations in
10-05
our campaign of maximum pressure to de
10-09
nuke the Korean Peninsula we continue to
10-15
call on partners to confront Iran
10-17
support for terrorists and block Iran's
10-19
path to a nuclear weapon we're also
10-23
working with allies and partners to
10-24
destroy jihadist terrorist organizations
10-27
such as Isis and very successfully so
10-30
the United States is leading a very
10-34
broad coalition to deny terrorists
10-36
control of their territory and
10-38
populations to cut off their funding and
10-41
to discredit their wicked ideology I am
10-45
pleased to report that the coalition to
10-48
defeat Isis has retaken almost 100
10-51
percent of the territory once held by
10-54
these killers
10-56
in Iraq and Syria there is still more
11-00
fighting and work to be done and to
11-04
consolidate our games we are committed
11-08
to ensuring that Afghanistan never again
11-11
becomes a safe haven for terrorists who
11-14
want to commit mass murder to our
11-17
civilian populations I want to thank
11-20
those nations represented here today
11-22
that have joined in these crucial
11-25
efforts you are not just securing your
11-28
own citizens but saving lives and
11-30
restoring hope for millions and millions
11-34
of people when it comes to terrorism we
11-38
will do whatever is necessary to protect
11-41
our nation we will defend our citizens
11-44
and our borders we are also securing our
11-47
immigration system as a matter of both
11-49
national and Economic Security America
11-54
is a cutting-edge economy what our
11-58
immigration system is stuck in the past
12-01
we must replace our current system of
12-04
extended family chain migration with a
12-07
merit-based system of admissions that
12-10
selects new arrivals based on their
12-13
ability to contribute to our economy to
12-16
support themselves financially and to
12-19
strengthen our country in rebuilding
12-22
America we are also fully committed to
12-25
developing our workforce we are lifting
12-28
people from dependence to independence
12-31
because we know the single best
12-34
anti-poverty program is a very simple
12-38
and very beautiful paycheck to be
12-42
successful that is not enough to invest
12-45
in our economy we must invest in our
12-48
people when people are forgotten the
12-52
world becomes fractured only by hearing
12-56
and responding to the voices of the
12-59
Forgotten can we create a bright future
13-02
that is truly shared by all the nation's
13-06
greatness is more than the sum of its
13-08
production
13-09
and nation's greatness is the sum of its
13-13
citizens the values pride love devotion
13-18
and character of the people who call
13-20
that nation home from my first
13-24
international g7 summit to the g20 to
13-28
the UN General Assembly to APEC to the
13-32
World Trade Organization and today at
13-34
the World Economic Forum my
13-37
administration has not only been present
13-39
but has driven our message that we are
13-42
all stronger when free sovereign nations
13-46
cooperate toward shared goals and they
13-49
cooperate toward shared dreams
13-53
represented in this room are some of the
13-55
remarkable citizens from all over the
13-57
world
13-58
you are national leaders business Titans
14-02
industry giants and many of the
14-04
brightest minds in many fields each of
14-07
you has the power to change hearts
14-11
transform lives and shape your country's
14-15
destinies with this power comes an
14-17
obligation however a duty of loyalty to
14-21
the people workers and customers who
14-23
have made you who you are
14-25
so together let us resolve to use our
14-29
power our resources and our voices not
14-33
just for ourselves but for our people to
14-37
lift their burdens to raise their hopes
14-40
and to empower their dreams to protect
14-43
their families their communities their
14-45
histories and their futures that's what
14-48
we're doing in America and the results
14-52
are totally unmistakable it's why new
14-56
businesses and investment are flooding
14-58
in it's why our unemployment rate is the
15-02
lowest it's been in so many decades it's
15-05
why America's future has never been
15-08
brighter today I am fighting all of you
15-11
to become part of this incredible future
15-13
we are building together thank you to
15-17
our hosts thank you to the leaders and
15-19
innovators in the audience
15-21
but most importantly thank you to all of
15-24
the hard-working men and women who do
15-26
their duty each and every day making
15-29
this a better world for everyone
15-32
together let us send our love and our
15-36
gratitude to make them because they
15-40
really make our countries run they make
15-44
our countries great thank you and god
15-48
bless you all
15-49
thank you very much
15-51
[Applause]
16-20
thank you very much
16-21
Thank You mr. president for this
16-24
inspiring speech as it is tradition it's
16-28
a form I will ask you one or two
16-31
questions and my first question is why
16-35
is the tax reform why has it been for
16-39
such a high priority for your
16-42
administration well first of all class I
16-44
want to congratulate you this is an
16-46
incredible group of people we had dinner
16-48
last night with about 15 leaders of
16-51
Industry none of whom I knew but all of
16-55
whom I've read about for years and it
16-57
was truly an incredible group and I
17-00
think I have 15 new friends so this has
17-02
been really great what you've done and
17-04
putting it together the Economic Forum
17-06
the tax reform was a dream of a lot of a
17-12
lot of people over many years but they
17-14
weren't able to get it done many people
17-16
tried and Ronald Reagan was really the
17-19
last to make a meaningful cut and reform
17-21
and ours is cutting and reforming we
17-24
emphasize cut but the reform is probably
17-28
almost as important we've wanted to do
17-30
it it is very tough politically to do it
17-34
hard to believe that would be but it is
17-36
very very tough that's why it hasn't
17-37
been done in close to 40 years and once
17-41
we got it going it was going and the big
17-45
and and I wouldn't say a total surprise
17-46
but one of the big things that happened
17-49
and took place is AT&T; and some others
17-53
came out very early and they said they
17-55
were going to pay thousands and
17-57
thousands of dollars to people that work
18-00
for their companies and you have three
18-02
hundred thousand four hundred thousand
18-03
five hundred thousand people working for
18-05
these companies and all of a sudden it
18-08
became like a big waterfall a big
18-10
beautiful waterfall where so many
18-13
companies are doing it and even today
18-15
they just announced many more but every
18-17
day they announce more and more and now
18-19
it's a fight for who's going to give the
18-20
most it started at a thousand now we
18-22
have them up to 3,000
18-24
this is something that we didn't
18-26
anticipate oftentimes in business things
18-28
happen that you don't anticipate usually
18-32
that's a bad thing but this was a good
18-35
thing this came out of nowhere nobody
18-37
ever thought of this as a possibility
18-40
even twe it wasn't in the equation we
18-42
waited we said wait'll February 1st when
18-45
the checks start coming in and people
18-47
Klaus have a lot more money in their
18-50
paycheck because it's not just a little
18-51
money there's a lot of money for people
18-53
making a living doing whatever they may
18-56
be doing and we really thought February
18-58
1st it was going to kick in and
19-00
everybody was going to be well we
19-01
haven't even gotten there yet and it's
19-04
kicked in and it's had a incredible
19-06
impact on the stock market and the stock
19-08
prices we've set 84 records since my
19-12
election record stock market prices
19-15
meaning we hit new highs 84 different
19-19
times out of a one year period and
19-22
that's a great thing and in all fairness
19-25
that was done before we passed the tax
19-28
cuts and tax reform so what happened is
19-32
really something special then as you
19-34
know and as I just said Apple came in
19-36
with 350 billion dollars and I tell you
19-39
I spoke with Tim Cook I said Tim I will
19-42
never consider this whole great run that
19-47
we've made complete until you start
19-50
building plants in the US and I will
19-53
tell you this moved up very
19-54
substantially but when I heard 350 I
19-57
thought he was talking I thought they
19-59
were talking three hundred and fifty
20-01
million dollars and by the way that's a
20-03
nice sized plant not the greatest but
20-06
not bad
20-06
and they said no sir it's three hundred
20-09
and fifty billion dollars I said that is
20-13
something well we have tremendous
20-15
amounts of money including my newfound
20-17
friends from last night great companies
20-20
they're all investing when one of the
20-23
gentlemen said he's putting in two
20-25
billion dollars because of the tax cuts
20-27
I said to myself wow he's actually the
20-30
cheap one in the group because they're
20-32
putting in massive numbers of billions
20-34
of dollars so
20-36
I think you have a brand-new United
20-39
States you have a United States who are
20-41
people from all over the world are
20-43
looking to come in and invest and
20-45
there's just nothing like what's
20-48
happening and I just want to finish by I
20-51
have a group of people that have been so
20-53
outs I have a whole lot of them so I
20-55
won't introduce cousin Ellen self at
20-56
least half of them but I've had a group
20-59
of people that work so hard on this and
21-01
other things and we're really doing we
21-04
had a great first year so successful in
21-07
so many different ways and there's a
21-09
tremendous spirit when you look at all
21-11
of the different charts and polls and
21-14
you see as an example African American
21-17
unemployment at the historic low that's
21-21
never it's never had a period of time
21-23
like this
21-24
same with Hispanic women at a 17-year
21-27
low it's it's very heartwarming to see
21-30
but there's a tremendous spirit in the
21-33
United States I would say it's a spirit
21-35
like I have never witnessed before I've
21-37
been here for a while I have never
21-39
witnessed the spirit that our country
21-42
has right now so I just want to thank
21-44
you all and all of those that are
21-46
pouring billions of dollars into our
21-49
country or ten dollars into our country
21-51
we thank you very much Thank You mr.
21-54
president I well I will ask you maybe a
21-57
personal question but before doing so it
22-01
sounds very interesting
22-02
Akinori I didn't know about this one I
22-04
would like to acknowledge the strong
22-07
presence of your cabinet members yes who
22-11
tremendously contributed to the
22-13
discussions good it's a loss I would
22-16
like to do that that's no Steven Wilbur
22-21
Gary Robert even my general and my
22-27
various other generals you know we're
22-30
making our military protection a little
22-32
bit better for us too so thank you very
22-35
much does everybody understand that I
22-36
think so thank you all for being all why
22-40
I may be personal question would be
22-45
what experience from your past have been
22-50
most useful in preparing you for the
22-54
presidency well being a businessman has
22-57
been a great experience for me I've
22-59
loved it I've always loved business I've
23-02
always been good at building things and
23-04
I've always been very successful at
23-05
making money I'd buy things that would
23-07
fail
23-08
that would be failures and I turn them
23-10
around and try and get them for the
23-12
right price and then I turned them
23-13
around make them successful and I've
23-15
been good at it and that takes a certain
23-17
ability and you know historically I
23-19
guess there's never really been a
23-21
businessman or businessperson elected
23-25
presidents always been a general or a
23-26
politician throughout history it's
23-29
always been a general you had to be a
23-31
general but mostly it was politicians
23-34
you'd never have a businessman and then
23-35
in all fairness I was saying to Klaus
23-37
last night had the opposing party to me
23-41
won some of whom you backed some of the
23-45
people in the room instead of being up
23-47
almost 50% the stock market is up since
23-51
my election almost 50 percent rather
23-54
than that I believe the stock market
23-56
from that level the initial level would
23-58
have been down close to 50% that's where
24-01
we were heading I really believe that
24-02
because they were going to put on
24-04
massive new regulations you couldn't
24-06
breathe that was choking our country to
24-07
death and I was able to see that Klaus
24-10
as a businessperson the other thing is
24-12
I've always seemed to get for whatever
24-14
reason a disproportionate amount of
24-16
press or media and not my whole life
24-22
somebody will explain someday why but
24-24
I've always gotten a lot and as a
24-27
businessman I was always treated really
24-29
well by the press you know the numbers
24-30
speak and things happen but I've always
24-32
really had a very good press and it was
24-35
until I became a politician that I
24-38
realized how nasty how mean how vicious
24-41
and how fake the press can be as the
24-44
cameras start going off in the back
24-48
but but overall I'm in the bottom line
24-51
somebody said well they couldn't have
24-53
been that bad because here we are were
24-54
president and I think we're doing a
24-56
really great job with my team I have a
24-58
team of just tremendous people and I
25-02
think we're doing a very special job and
25-04
I really believe it was time and it was
25-07
time to do that job because I don't
25-09
think the United States would have done
25-12
very well if it went through four or
25-14
eight more years of regulation and
25-17
really a very anti business group of
25-20
people we have a very pro-business group
25-23
we have regulations cut to a level in
25-26
the history of our country class this
25-29
was reported recently in one year we've
25-32
cut more regulations in my
25-33
administration than any other
25-36
Administration in for eight or sixteen
25-39
years in the one case we've cut more
25-41
regulations in one year and we have a
25-43
ways to go
25-44
I mean we're probably 50% done and we're
25-47
going to have regulation there's nothing
25-49
wrong with rules and regulations you
25-51
need them but we've cut more than any
25-56
administration ever in the history of
25-58
our country and we still have a ways to
26-00
go so I think between that and the
26-02
tremendous tax cuts we've really done
26-05
something and one other thing I said and
26-06
I saw it last night was some of the
26-08
leaders and the business people I think
26-12
I've been a cheerleader for our country
26-14
and everybody representing a company or
26-17
a country has to be a cheerleader or no
26-20
matter what you do it's just not going
26-22
to work and the reason I'm a cheerleader
26-24
is because it's easy because I love our
26-27
country and I think we're just doing
26-31
really well and we look forward to
26-33
seeing you in America special place and
26-37
where you are is a special place also
26-39
thank you all very much I appreciate it
26-41
thank you
26-44
thank you very much mr. president for
26-48
being with us sir World Economic Forum
26-52
community who is assembled here will be
26-55
certainly and I quote you from the last
26-58
piece of your remarks will be suddenly
27-01
be amongst a hard-working man and women
27-05
who do serve duty each and every day
27-09
making this world a better place for
27-12
everyone thank you very much thank you
27-15
thank you very much everybody thank you
27-17
[Applause]