Trump speech at Davos: US President takes aim at China in bullish address to world leaders

‘America is open for business and we're competitive once again’

Donald Trump has adopted a bullish stance at Davos, insisting to the international community that his so-called America First strategy does not mean the US is seeking isolation, but also insisting that it will no longer be the victim of “predatory” trade practices by states such as China.

The first US President to address delegates for two decades, told delegates to the World Economic Forum that America First does not mean “America alone”.

“The world is witnessing the resurgence of a strong and prosperous America,” Mr Trump said.

But turning to trade, in a little disguised reference to China, he said: “The US will no longer turn a blind eye to unfair economic practices including massive intellectual property theft, industrial subsidies and pervasive state-led economic planning.”

“These and other predatory behaviours are distorting the global markets and harming businesses and workers not just in the US but around the globe.”

Earlier this week the US imposed tariffs on Chinese-made solar panels and washing machines, drawing sharp criticism from Beijing.

Speaking as he sought to brush off reports that he had last summer sought to fire Special Prosecutor Robert Mueller – “fake news”, Mr Trump told reporters when asked about the latest revelations in the New York Times – the President said that confidence was at an all time high. He claimed that since he entered the White House, the country had added 2.4m jobs.

“America is open for business and we’re competitive once again,” he told business leaders and world leaders.

Mr Trump claimed that his rolling back of environmental regulations imposed by his predecessor, Barack Obama, had helped boost businesses. “Regulation is stealth tax,” he said.

“I promised to eliminate two unnecessary regulations for every new regulation.”

But while Mr Trump’s address sought to make the correct noises in a hall full of delegates and leaders strongly committed to free trade and globalisation, his most important audience was not the conference hall in the Swiss town of Davos, but back in the US, where his speech would have been watched closely by his supporters and the Republican Party.

He said that at the leader of the US he would always put America first, as other world leaders would naturally prioritise the interests of their countries. “But America First does not mean America alone,” he said.

Mr Trump stressed that the people who deserved the credit for America’s strong economic performance were the American people. “It’s not enough to invest in our economy, we have to invest in our people,” he said. “Only then can we have a bright future that is shared by everyone.”

Later in a Q&A session with Klaus Schwab, the President of the World Economic Forum, Mr Trump said that his experience as a businessman had helped him when he entered the White House. He said that previously, US presidents had been politicians or else former soldiers.

“I’ve always liked doing business and I’ve always like making money,” he said.

When he was taking questions after his address, he was booed by the crowd for attacking the media.

“As a businessman I was always treated really well by the press… and it wasn’t until I became a politician that I realised how nasty, how mean, how vicious and how fake the press can be,” he said.