Trump Is Said to Invite U.S. Investment in Davos Speech
President will tout tax overhaul and deregulation efforts.
(Bloomberg) -- President Donald Trump will on Friday declare that there’s been no better time for businesses to invest in the U.S. thanks to his policies.
In a speech to the World Economic Forum’s annual meeting in Davos, Switzerland, the president will tout the tax overhaul he signed into law late last year that slashed the U.S. corporate income tax to 21 percent, as well as his efforts to scale back regulations that he believes unduly burden businesses, a senior administration official said. The aide previewed Trump’s speech, set for 8:00 a.m. New York time, on condition of anonymity.
“We are going to bring many billions of dollars into the U.S.,” Trump said as he arrived at the conference on Friday. “America is doing fantastically well, better than it did in decades.”
Trump will promote economic indicators that he argues show how well his policies are working, the official said. That’s a common refrain of Trump’s speeches. The official said Trump’s Davos speech will be remarkably brief, at only about 15 minutes.
Business leaders in Davos have backed Trump’s argument that the U.S. is looking more attractive. Tidjane Thiam, chief executive of Credit Suisse Group AG, noted “a step up in interest” in the U.S., citing Ferrero SpA’s acquisition of Nestle SA’s American choclate business as an example.
“There are going to be a lot of flows into the United States,” Blackstone Group LP CEO Stephen Schwarzman said on Tuesday. “There are companies all around the world now looking at U.S., saying this is the place to be in the developed world.”
Trump will once again insist that U.S. trade relationships be fair and equitable, the official said -- another common theme when he speaks to international audiences. He will assert that rigorous enforcement of trade abuses is the best way to restore and preserve the integrity of global commerce, the official said.
He’ll also again call for foreign leaders to help the U.S. curb North Korea’s nuclear weapons and ballistic missile programs, and to combat terrorism.
--With assistance from Javier Blas
To contact the reporter on this story: Shannon Pettypiece in Washington at spettypiece@bloomberg.net.
To contact the editor responsible for this story: Alex Wayne at awayne3@bloomberg.net.
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