Economic Rules Hub
  • World
  • Politics
  • Business
  • Investing
Home Investing Trump Calls for Lower Oil Prices, Tariffs and Interest Rate Cuts in WEF Address
Investing

Trump Calls for Lower Oil Prices, Tariffs and Interest Rate Cuts in WEF Address

by admin January 24, 2025
January 24, 2025

US President Donald Trump addressed world leaders and business executives at the World Economic Forum (WEF) in Davos, Switzerland, calling for Saudi Arabia and OPEC nations to lower oil prices.

Trump criticized the economic policies of the Biden administration, attributing recent challenges, including high deficits, to regulatory and fiscal decisions made during Joe Biden’s term as president.

“Over the past four years, our government racked up $8 trillion in wasteful deficit spending and inflicted nation wrecking energy restrictions, crippling regulations and hidden taxes like never before,” Bloomberg quotes Trump as saying.

The newly inaugurated president emphasized the need to confront what he termed ‘economic chaos,’ explaining that the overall goal is to re-centralize the US as the premier hub for manufacturing.

Further, Trump announced plans to press Saudi Arabia and OPEC to reduce the cost of oil, which he suggested will alleviate inflation and prompt central banks to lower interest rates.

“You gotta bring down the oil price, that will end that war. You could end that war,” he added, referring to the Russia-Ukraine war and claiming that lower prices could pressure Russia to end the conflict.

A significant part of Trump’s address was devoted to advocating for tariffs as a tool to bolster US manufacturing.

He reiterated his administration’s stance that companies manufacturing outside the US will face tariffs. Trump argued that this policy will drive significant revenue for the US, while encouraging companies to invest domestically.

“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,” he maintained to WEF attendees.

Energy policy reversal and focus on domestic production

Domestically, Trump has taken steps to reverse Biden-era policies on climate change and energy.

These include efforts to boost US fossil fuel production, and to review of subsidies for renewable energy and electric vehicles. Trump has emphasized his focus on ensuring energy independence and replenishing US oil reserves.

His administration’s energy policies have already drawn mixed reactions.

While some business leaders view increased domestic production as a positive step for economic stability, others worry about the implications for international energy markets and long-term climate goals.

Furthermore, Trump’s recent signing of an executive order that has opened Alaska to resource development — a reversal of yet another Biden policy — was met with criticism, including economic and environmental concerns.

Trump has also reiterated his commitment to reshaping US trade relationships, citing ongoing reviews of trade agreements and plans to impose additional tariffs on countries like China, Canada and Mexico.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

0
FacebookTwitterPinterestEmail
previous post
Stardust Power Inc. Announces Pricing of $5.75 Million Public Offering
next post
Potash Fertilizers: What’s the Difference Between SOP and MOP?

Related Posts

Noble Mineral highlights Mann West Nickel Sulphide Initial Resource as...

June 12, 2025

New INNspired Article Spotlights Rare Earth Recycling as a Strategic...

June 12, 2025

Juggernaut Exploration: Advancing High-grade Precious Metals Assets in Northern BC’s...

June 12, 2025

FireFly Metals to Add AU$95 Million to Coffers With Equity...

June 12, 2025

Nuclear Recharge: Eclipse and Oklo Pen Deals Amid Global Clean...

June 12, 2025

Peter Krauth: Silver Price Running, Stocks Exploding — What’s Next?

June 12, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Trump tells Netanyahu to end Gaza war and stop Iran threats, source says, as US ramps up pressure on Israel

      June 12, 2025
    • Children swept away in school bus among at least 49 killed in South Africa flooding

      June 12, 2025
    • Israel recovers bodies of two dead hostagesfrom Gaza in military operation

      June 12, 2025
    • Gaza Humanitarian Foundation says Hamas attack has killed multiple aid workers

      June 12, 2025
    • Trump administration reviewing Biden-era submarine pact with Australia, UK

      June 12, 2025

    Categories

    • Business (1,401)
    • Investing (3,435)
    • Politics (4,594)
    • World (4,506)
    • Email Whitelisting
    • Terms and Conditions
    • Privacy Policy
    • Contacts
    • About us

    Disclaimer: EconomicRulesHub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 EconomicRulesHub.com | All Rights Reserved

    Economic Rules Hub
    • World
    • Politics
    • Business
    • Investing