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Published On: Fri, Jan 26th, 2018

United States Warns Davos on unfair trade

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trumpdavos-khEC--621x414@LiveMintDAVOS  U.S. President Donald Trump took his “America First” message to the world’s elite on Friday, telling a summit of business and political leaders that the United States would “no longer turn a blind eye” to what he described as unfair trade practices.

Trump became the first sitting U.S. President in 18 years to address the annual conclave of the rich and powerful at the Swiss ski resort of Davos, closing the summit with a speech in which he declared the United States “open for business”.

“When the United States grows, so does the world,” Trump said in a speech to the World Economic Forum in Davos, Switzerland. “America First does not mean America alone,” Trump said. “The world is experiencing the resurgence of a strong and prosperous America. America is open for business and we are competitive once again,” he added in a speech to the World Economic Forum (WEF) in Davos.

American prosperity has created countless jobs around the globe and the drive for excellence, creativity and innovation in the United States has led to important discoveries that help people everywhere live more prosperous and healthier lives.”

President Trump took his “America First” message to the world’s elite telling a summit of business and political leaders that the United States would “no longer turn a blind eye” to what he described as unfair trade practices.

“Now is the best time to bring your money, your jobs, your businesses to America,” he said, singling out tax cuts and curbs to regulation as boosting the investment climate.

“After years of stagnation, the United States is once again experiencing strong economic growth,” he said. “The world is witnessing the resurgence of a strong and prosperous America.”

He said he would always promote “America First”, as he expected other world leaders to do on behalf of their own countries. “America First does not mean America alone. When the United States grows so does the world,” he said.

But he swiftly turned to a theme of demanding tougher enforcement of trade rules, accusing unidentified countries of unfair practices, including stealing intellectual property and providing state aid to industry.”We will enforce our trade laws and restore integrity to the trading system. Only by insisting on fair and reciprocal trade can we create a system that works not just for the United States but for all nations,” Trump said
“The United States will no longer turn a blind eye to unfair trade practices,” he said. “We cannot have free and open trade if some countries exploit the system at the expense of others. We support free trade but it needs to be fair and it needs to be reciprocal.”

While he has a record of opposing multi-lateral trade agreements involving many countries, he said the United States would consider “mutually beneficial” bilateral trade agreements with other individual states. (Thomson Reuters qith agency inputs)

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