Trump takes his 'America First' policies to Davos 'globalists'
- Author: Leroy Wright Jan 28, 2018,
Jan 28, 2018, 15:13
Then on Wednesday in Davos, U.S. Treasury Secretary Steven Mnuchin said he welcomed a weakening in the dollar. Having appointed Wall Street executives to key positions in his administration on taking office, Mr Trump this week got approval from the Senate for another - Jerome Powell, a monetary dove and former investment banker, as new chair of the Federal Reserve.
Treasury Secretary Steve Mnuchin, one of 10 Cabinet secretaries attending the gathering, endorsed a lower dollar, pushing the greenback to its lowest level in three years, according to the Bloomberg Dollar Index.
When Trump travels to the Swiss Alpine resort town this week, he will become the first USA president in almost two decades to attend the World Economic Forum, a gathering of powerful finance and business officials largely considered aligned with the free trade and globalism that Trump and his aides have derided.
'We don't have to worry about this crowd ...
Trump had some parting words prior to his departure from Washington on Wednesday.
That's according to a spokeswoman for the USA first lady, who tweeted Thursday that Mrs. Trump toured the memorial near the National Mall in Washington.
President Donald Trump has a simple message for the world's economic leaders: America is open for business.
"First of all, there are still too many people left out from the recovery and acceleration of growth", the socialist International Monetary Fund boss said.
Cohn never directly said the price of washing machines would not increase as a result, instead saying USA domestic production was about to increase and defending the actions as the result of a "very rigorous process".
He said: "In terms of any trade action you take, there's always potential for retribution or retaliation, and that's up to the Chinese to decide".
'Trade wars are fought every single day, ' he continued.
"China has its strongest president in decades just at the same time as the United States has one of its weakest over the past century - that creates a fundamental imbalance in the global order", he added.
Trump has long criticized China's trade practices and in April authorized U.S. Trade Representative Robert Lighthizer to look into whether the U.S. should launch a formal investigation into whether China is stealing intellectual property. Although an impassioned protest with many yelling "Trump not Welcome" and "Smash the WEF", the protests were mostly peaceful. Seventy-five percent of Canada's trade goes to the US and Canada is eager to diversify. "And if we live in a world where there are not artificial barriers, we will all grow and we will all help each other grow".
'We are really here to talk about what we have done'.
The president is scheduled Thursday to hold talks with British Prime Minister Theresa May and Israeli Prime Minister Benjamin Netanyahu while the summit takes place.
As for Trump himself: Could he come away with a changed mind?
He will meet with King Felipe VI of Spain, King Philippe of Belgium, French President Emmanuel Macron, Polish President Andrzej Duda, Chancellor of Germany Angela Merkel and several PMs.
Trump is due to speak on Friday at the WEF meeting in the Alpine town of Davos, an annual meeting of global business and political leaders where protests have been banned.