AsianFin – U.S. President Donald Trump called on OPEC to reduce oil prices and urged global leaders to lower interest rates during his speech at the World Economic Forum in Davos. He also warned that countries producing goods outside the U.S. would face tariffs.
"I'll demand that interest rates drop immediately. And likewise, they should be dropping all over the world," Trump said via video to the World Economic Forum in Davos, Switzerland, on Thursday. "I'm also going to ask Saudi Arabia and OPEC to bring down the cost of oil."
These remarks, made on the fourth day of his second presidential term, reinforce Trump's stance against free market principles both domestically and internationally.
Although Trump expressed his intention to impose tariffs, he did not offer specific details, leaving markets uncertain about his plans. As he spoke, oil prices fell, the euro weakened, and the U.S. dollar fluctuated against other currencies, while the S&P 500 reached near record levels.
Explore more exclusive insights at nextfin.ai.
