
Brief Notes: U.S. President Donald Trump delivers a combative keynote at the 2026 World Economic Forum in Davos, touting what he calls a historic American economic boom while lashing out at Europe’s leaders and policies. In this full speech, he defends tariffs, deregulation, fossil-fuel expansion, and strict immigration controls, framing them as the engine of U.S. prosperity. Trump openly blasts NATO, Denmark, Emmanuel Macron, and Mark Carney, and even revives his push to assert U.S. control over Greenland, igniting fresh transatlantic tensions.
President Trump’s Opening Remarks
PRESIDENT DONALD J. TRUMP: Well, thank you very much, Larry. It’s great to be back in beautiful Davos, Switzerland, and to address so many respected business leaders, so many friends, a few enemies.
Welcome to this year’s World Economic Forum with truly phenomenal news from America. Yesterday marked the one-year anniversary of my inauguration, and today, after 12 months back in the White House, our economy is booming, growth is exploding, productivity is surging, investment is soaring, incomes are rising, inflation has been defeated, our previously open and dangerous border is closed and virtually impenetrable, and the United States is in the midst of the fastest and most dramatic economic turnaround in our country’s history.
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Record-Breaking Economic Achievements
Since the election, the stock market has set 52 all-time high records. So that’s in one year, 52 records, adding $9 trillion in value to retirement accounts, 401ks, and people’s savings. People are doing very well. They’re very happy with me.
Since my inauguration, we’ve lifted more than 1.2 million people off of food stamps. And after four years in which Biden secured less than $1 trillion of new investment in our country — think of that, $1 trillion, substantially less than that — in four years, we’ve secured commitments for a record-breaking $18 trillion.
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America as the Global Economic Engine
And this is all great news, and it’s great for all nations. The USA is the economic engine on the planet. And when America booms, the entire world booms. It’s been the history. When it goes bad, it goes bad.
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A Transformation Like America Has Not Seen in Over 100 Years
In one year, our agenda has produced a transformation like America has not seen in over 100 years.
Cutting Spending and Slashing Regulations
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The Largest Tax Cuts in American History
In July, we passed the largest tax cuts in American history, including no tax on tips, no tax on overtime, no tax on Social Security for our great seniors.
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Tariffs and Trade Deficit Reduction
With tariffs, we’ve radically reduced our ballooning trade deficit, which was the largest in world history. We were losing more than $1 trillion every single year, and it was just wasted. It was going to waste. But in one year, I slashed our monthly trade deficit by a staggering 77 percent.
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American exports are now up by more than $150 billion. Domestic steel production is up by 300,000 tons a month, and it’s doubling over the next four months. It’s doubling and tripling, and we have steel plants being built all over the country.
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Historic Trade Deals With Global Partners
During the process, we’ve made historic trade deals with partners covering 40 percent of all U.S. trade, some of the greatest companies and countries in the world. We have countries as our partner, too.
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Reversing Biden’s Energy Policies
In America, I’ve stopped the nation-wrecking energy policies that drive up prices while sending jobs and factories to the world’s worst polluters.
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Under my leadership, U.S. natural gas production is at an all-time high, by far. U.S. oil production is up by 730,000 barrels a day. And last week, we picked up 50 million barrels from Venezuela alone.
Venezuela Oil Deal
Venezuela has been an amazing place for so many years, but then they went bad with their policies. Ten years ago, it was a great country, and now it’s got problems. But we’re helping them. And those 50 million barrels, we’re going to be splitting up with them, and they’ll be making more money than they’ve made in a long time. Venezuela is going to do fantastically well. We appreciate all of the cooperation we’ve been giving. We’ve been giving great cooperation. Once the attack ended, the attack ended, and they said, “let’s make a deal.” More people should do that.
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Gasoline Prices Plummet
The price of gasoline is now below $2.50 a gallon in many states, $2.30 a gallon in most states, and we’ll soon be averaging less than $2 a gallon. In many places, it’s already down, even lower, $1.95 a gallon. Numerous states are at $1.99, numbers that nobody has heard for years – actually, since my last administration, we got it down to around those numbers.
I’ve signed an order directing an approval of many new nuclear reactors. We’re going heavy into nuclear. I was not a big fan because I didn’t like the risk, the danger, but the progress they’ve made with nuclear is unbelievable, and the safety progress they’ve made is incredible. We’re very much into the world of nuclear energy, and we can have it now at good prices and very, very safe.
Leading the World in AI
And we’re leading the world in AI by a lot. We’re leading China by a lot.
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Avoiding Europe’s Energy Collapse
Because of my landslide election victory, the United States avoided the catastrophic energy collapse which befell every European nation that pursued the Green New Scam, perhaps the greatest hoax in history. The Green New Scam, windmills all over the place, destroy your land, destroy your land. Every time that goes around, you lose a thousand dollars. You’re supposed to make money with energy, not lose money.
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The United Kingdom’s Energy Crisis
The United Kingdom produces just one third of the total energy from all sources that it did in 1999.
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Europe’s Destructive Policies
The consequences of such destructive policies have been stark, including lower economic growth, lower standards of living, lower birth rates, more socially disruptive migration, more vulnerability to hostile foreign adversaries, and much, much smaller militaries.
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On Greenland and Denmark
Would you like me to say a few words of Greenland? I was going to leave it out of the speech, but I thought – I think I would have been reviewed very negatively. I have tremendous respect for both the people of Greenland and the people of Denmark. Tremendous respect. But every NATO ally has an obligation to be able to defend their own territory. And the fact is, no nation or group of nations is in any position to be able to secure Greenland other than the United States. We’re a great power, much greater than people even understand. I think they found that out two weeks ago in Venezuela.
We saw this in World War II, when Denmark fell to Germany after just six hours of fighting and was totally unable to defend either itself or Greenland. So the United States was then compelled – we did it, we felt an obligation to do it – to defend our own forces, to hold the Greenland territory. And hold it, we did, at great cost and expense. They didn’t have a chance of getting on it, and they tried. Denmark knows that.
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Weapons Systems and Strategic Security
So now our country and the world face much greater risks than it did ever before because of missiles, because of nuclear, because of weapons of warfare that I can’t even talk about.
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Strategic Importance of Greenland
Greenland is a vast, almost entirely uninhabited and undeveloped territory. The sitting undefended in a key strategic location between the United States, Russia and China, that’s exactly where it is right smack in the middle, wasn’t important nearly when we gave it back.
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Historical Attempts to Acquire Greenland
That’s why American presidents have sought to purchase Greenland for nearly two centuries. You know, for two centuries, they’ve been trying to do it.
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Seeking Acquisition Negotiations
And that’s the reason I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States, just as we have acquired many other territories throughout our history, as many of the European nations have.
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Ukraine War and Election Claims
The war with Ukraine is an example. We are thousands of miles away, separated by a giant ocean. It’s a war that should have never started, and it wouldn’t have started if the 2020 U.S. presidential election weren’t rigged. It was a rigged election. Everybody now knows that. They found out. People will soon be prosecuted for what they did. It’s probably breaking news, but it should be. It was a rigged election. You can’t have rigged elections.
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Biden’s Ukraine Spending and Border Crisis
Biden had given Ukraine and NATO $350 billion of staggering sums, $350 billion. I came in, and just like the southern border, just like inflation, just like our economy, I said, wow, this place is in trouble, meaning our country. All of these things were out of control. But the border was out of control. We fixed it with the strongest border anywhere in the world.
Settling Eight Wars
And I’ve now been working on this war for one year, during which time I settled eight other wars, India, Pakistan.
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NATO Spending Reform
Until I came along, NATO was only supposed to pay 2% of GDP, but they weren’t paying. Most of the countries weren’t paying anything. The United States was paying for virtually 100% of NATO.
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OK, now everyone’s saying, oh, good. That’s probably the biggest statement I made because people thought I would use force. I don’t have to use force. I don’t want to use force. I won’t use force.
Greenland: From Trusteeship to Ownership Demand
All the United States is asking for is a place called Greenland where we already had it as a trustee, but respectfully returned it back to Denmark not long ago after we defeated the Germans, the Japanese, the Italians and others in World War Two. We gave it back to them. We were a powerful force then, but we are a much more powerful force now.
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And all we’re asking for is to get Greenland, including right title and ownership, because you need the ownership to defend it.
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The “Greatest Golden Dome Ever Built”
All we want from Denmark for national and international security and to keep our very energetic and dangerous potential enemies at bay is this land on which we’re going to build the greatest Golden Dome ever built. We’re building the Golden Dome that’s going to just by its very nature going to be defending Canada.
Canada gets a lot of freebies from us, by the way. They should be grateful also. But they’re not. I watched your prime minister yesterday. He wasn’t so grateful. They should be grateful to us. Canada. Canada lives because of the United States. Remember that, Mark, the next time you make your statements.
Israel’s Dome and U.S. Technology
What we did for Israel was amazing, but that’s nothing compared to what we have planned for the United States, Canada and the rest of the world. We are going to build a dome like no other. We did it. We did it for Israel. And by the way, I told Bibi, stop taking credit for the dome. That’s our technology. That’s our stuff.
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Ukraine Casualty Numbers
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Stopping the Bloodshed
So we’re since World War Two. They keep going, they’ll exceed World War Two. The numbers are staggering how many people they’ve lost. They don’t want to talk about it. Ukraine and Russia lost just tremendous amounts. And I’m dealing with President Putin and he wants to make a deal. I believe I’m dealing with President Zelensky and I think he wants to make a deal.
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From “Daddy” to Villain Over Greenland
And I’ve until the last few days when I told them about Iceland, they loved me. They called me “Daddy.” The last time, a very smart man said, “He’s our daddy. He’s running it.” I was like running it. I went from running it to being a terrible human being. But now what I’m asking for is a piece of ice, cold and poorly located, that can play a vital role in world peace and world protection. It’s a very small ask compared to what we have given them for many, many decades.
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Stock Market Reaction and Defense Spending
I mean, our stock market took the first dip yesterday because of Iceland. So Iceland’s already cost us a lot of money. But that dip is peanuts compared to what it’s gone up. And we have an unbelievable future in that stock.
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Greenland Ultimatum
So we want a piece of ice for world protection. And they won’t give it. We’ve never asked for anything else. And we could have kept that piece of land, and we didn’t. So they have a choice. You can say yes, and we will be very appreciative. Or you can say no, and we will remember.
Economic Security and NATO
A strong and secure America means a strong NATO, and that’s one reason why I’m working every day to ensure our military is very powerful, our borders are very strong. And above all, our economy is strong because national security requires economic security and economic prosperity, and we have the greatest that we’ve ever had.
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Favored Nation Drug Pricing Policy
One of my most favored nation policy for drug prices, the cost of prescription drugs is coming down by up to 90 percent, depending on the way you calculate.
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Three Minutes Per Country
It took me, on average, three minutes a country saying the same thing. You will do it. They all said, no, no, no. I will not do it. You’re asking me to double the cost of prescription. I said, that’s right, because you’ve been screwing us for 30 years. And they said, we will not do it.
Restoring the American Dream of Homeownership
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Capping Credit Card Interest Rates
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Securing America as the Crypto Capital of the World
To unleash innovation and savings and financing, I’m also working to ensure America remains the crypto capital of the world. And to that end, last year, I signed the landmark Genius Act into law. Now Congress is working very hard on crypto market structure legislation, Bitcoin, all of them, which I hope to sign very soon, unlocking new pathways for Americans to reach financial freedom.
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Mortgage Bonds and New Fed Chairman
Finally, I’ve instructed government backed institutions to purchase up to $200 billion in mortgage bonds to bring down interest rates. And I’ll be announcing a new Fed chairman in the not too distant future. I think you’ll do a very good job. So I gave away some of it. He did give that away. So we have something. Get something. But somebody that’s very respected. They’re all respected. They’re all great.
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Mortgage Rates and Housing Market Strategy
Last week, the average 30 year mortgage rate dropped below 6 percent for the first time in many years. Another major factor in driving up housing costs was the mass invasion of our borders.
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Interest Rates and America’s Economic Position
We can drop interest rates to a level. And that’s one thing we do want to do. That’s natural. That’s good for everybody. You know, the dropping of the interest rates, we should be paying a much lower interest rate than we are. We should be paying the lowest interest rate of any country in the world, because without the United States, you don’t have a country.
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Tariffs on Switzerland
So I said, let’s put a 30 percent tariff on them so that we get back some of it, not all of it at all. We still have a deficit, big deficit, 40, 41 million. That’s a big deficit. And I said, let’s put a tariff on. Different tariffs, different places, you’re all party to some cases, victims to them. But in the end, it’s a fair thing. And most of you realize that.
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The United States Is Keeping the Whole World Afloat
But I realize that we have many places like that where they’re making a fortune because of the United States. Without the United States, they wouldn’t be making anything. Think of it. Switzerland made $41 billion on us.
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America Should Pay the Lowest Interest Rate
But we should be paying the lowest interest rate of everybody. I hope Scott’s listening to this because we should be paying the lowest interest rate of everybody. Without us, without us, most of the countries don’t even work.
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Record Factory Construction and Foreign Investment
You know, all these factories that are being built at record, thousands of businesses are being built right now. Remember, $18 trillion is invested.
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Hundreds of big factories, car plants are moving back to the United States. They’re coming in from Canada. They’re coming in from Mexico, from Japan. Japan’s coming in and building plants here in order to avoid tariffs. They’re coming in from China. They’re coming in from all over the world.
We have more plants being built now, car plants, than we’ve ever had built even in the heyday from the 1940s and 50s. And they’re bigger. They don’t use renovations anymore where they take an old plant, they rip it down, they build a brand new plant, super modern plant. But it’s happening at levels that nobody’s ever seen.
Immigration and Crime Enforcement
In 2024, the U.S. built less than 2 million new homes, but Biden admitted more than 8 million new migrants. And those days are over. In 2025, for the first time in 50 years, the United States had reverse migration. Boy, that was nice.
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Washington D.C. Safety Transformation
You know, Washington, D.C., is the safest place now in the United States. It was a very dangerous place to walk, and now you can walk with your wife, your kids, right through the middle of the city. Right now, Washington, D.C., is as safe as it gets. It was one of the most unsafe.
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Memphis also. Memphis, Tennessee. New Orleans, Louisiana. We’re there for three weeks. We’ve cut the crime down by 64 percent within another month. Virtually no crime there. We can do that all over. We’re going to help the people in California.
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Cutting Welfare and Ending Sanctuary City Payments
We’re cutting illegal aliens off welfare and other government benefits, and I have directed that starting immediately there will be no more payments to sanctuary cities because they are really just sanctuaries for criminals.
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Fraud and Piracy
But equally importantly, we’re cracking down on more than $19 billion in fraud that was stolen by Somalian bandits. Can you believe the Somalians? They turned out to be higher IQ than we thought. And we say these are low IQ people. How did they go into Minnesota and steal all that money?
And we have, you know, they’re pirates. They’re good pirates, but we shoot them out of the water just like we shoot the drug boats out.
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Drug Interdiction at Sea
We’ve cut down with the hitting of the boats that are loaded up with drugs, including submarines. Can you believe they actually buy small? They call them mini-subs, very fast. They’re meant for drugs. We’ve knocked out two of them. The Democrats say they were fishing. You have ruined somebody’s fishing weekend, I would say. A submarine is not a fishing boat. You don’t fish.
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Immigration and Western Society
Situation in Minnesota reminds us that the West cannot mass import foreign cultures which have failed to ever build a successful society of their own.
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Via https://singjupost.com/transcript-president-donald-trump-remarks-wef-davos-2026/







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