Trump challenges CEOs at Davos; Energy boom to fuel $500 billion AI investment

by WorldTribune Staff, January 23, 2025 Real World News

On the third day of his second term, President Donald Trump told the group of globalist CEOs gathered at the World Economic Forum (WEF) that their world is changing.

Speaking from the White House via video link to the gathering in Davos, Switzerland on Thursday, Trump said: “Come make your product in America and we will give you among the lowest taxes as any nation on earth. But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff — differing amounts — but a tariff, which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt under the Trump administration.”

President Donald Trump addressed the World Economic Forum via video link on Thursday. / Video Image

During an exchange following his major address, the president also called out Bank of America CEO Brian Moynihan to his face for de-banking conservatives.

“I hope you start opening your bank to conservatives because many conservatives complain that the banks are not allowing them to do business within the bank and that included a place called Bank of America,” Trump told Moynihan. “They don’t take conservative business and I don’t know if the regulators mandated that because of Biden or what but you and Jamie [Dimon] and everybody… I hope you open your banks to conservatives because what you’re doing is wrong.”

Moynihan and Dimon subsequently issued statements denying that there was any “political litmus test” for account holders.

WEF founder Klaus Schwab told Trump that his return and his agenda have “been at the focus of our discussions this week.” He invited Trump to speak at the summit in person next year.

On the Russia-Ukraine war, Trump said: “One thing very important: I really would like to be able to meet with President Putin soon and get that war ended. We really have to stop that war. That war is horrible”

Trump laid blame on the OPEC+ alliance of oil exporting countries for keeping the price of oil too high for much of the nearly three-year war. Oil sales are the economic engine driving Moscow’s economy.

“If the price came down, the Russia-Ukraine war would end immediately,” Trump said. He added about OPEC+, “They are very responsible to a certain extent for what’s taking place.”

Among the highlights at the WEF on Thursday was a fiery address from Argentinian President Javier Milei.

“I have come here to tell you that while our battle is not won, there is now hope that our moral duty has been reborn as well as our historic responsibility to dismantle the ideological structure of this sick wokeism,” Milei said.

Trump and Elon Musk are among leaders forming an alliance “of all the nations that want to be free,” he said.

“The common denominator for the countries that are failing is the mental virus of woke ideology,” he said. “It is the great pandemic of our time that needs to be cured. It is the cancer that must be cut out.”

(View Milei’s full address here.)

Meanwhile, Trump on Tuesday announced the formation of the “Stargate” project in which Oracle Board Chair and CTO Larry Ellison, SoftBank CEO Masayoshi Son, and OpenAI CEO Sam Altman are teaming up to invest $500 billion in American artificial intelligence infrastructure.

“We’re starting off with tremendous investment coming into our country at levels that nobody’s really ever seen before, and they’re very happy with the fact that I won the race and that they feel confident in their investments; and it’s big money and high-quality people,” Trump said. “This monumental undertaking is a resounding declaration of confidence in America’s potential under a new president.”

Bloomberg reported last month that AI data centers are putting a strain on power grids across America. The Trump Administration’s solution: “Drill baby, drill.”

Ellison told Trump that AI data centers are under construction, noting that he and Oracle have been working with Softbank and Masayoshi, as well as OpenAI and Altman: “We’ve actually been been working with OpenAI for a while and with Masa for a while. The data centers are actually under construction. The first of them are under construction in Texas. Each building is a half a million square feet. There are 10 buildings currently being built, but that will expand to 20 and other locations beyond the Abilene location, which is, which is our first location.”

Ellison also detailed one application that Stargate plans to build centers around electronic health records: “The kind of applications that we’re building, to give you an idea, maybe the most charismatic, and the one that I think touches us all is electronic health records–not just maintaining electronic health records, but by looking at electronic health records… doctors better understanding the condition of their patients, and being able to provide health care plans that are much better than they otherwise would be.”

Trump also asked the executives to detail how artificial intelligence can be used to combat disease, and Ellison explained that AI can help with cancer detection, noting that one project the group is working on “is a cancer vaccine.”

“Cancer diagnosis using AI has the promise of just being a simple blood test. Then, beyond that, once we gene sequence… that cancer tumor, you can then vaccinate the person, design a vaccine for every individual person to vaccinate them against that cancer,” Ellison said.

Trump said Thursday during his address to the WEF that he will expedite the construction of AI power plants through an emergency declaration, as the U.S. races against China for dominance in the industry.

“We’re going to build electric generating facilities. I’m going to get the approval under emergency declaration. I can get the approvals done myself without having to go through years of waiting,” Trump said.

Following is the text of President Trump’s remarks:

My administration is acting with unprecedented speed to fix the disasters we’ve inherited from a totally inept group of people and to solve every single crisis facing our country.

This begins with confronting the economic chaos caused by the failed policies of the last administration. Over the past four years, our government racked up $8 trillion in wasteful deficit spending and inflicted nation-wrecking energy restrictions, crippling regulations, and hidden taxes like never before.

The result is the worst inflation crisis in modern history and sky-high interest rates for our citizens and even throughout the world. Food prices and the price of almost every other thing known to mankind went through the roof.

President Biden totally lost control of what was going on in our country, but in particular with our high inflation economy and at our border. Because of these ruiners’ policies, total government spending this year is $1.5 trillion higher than was projected to occur when I left office just four years ago. Likewise, the cost of servicing the debt is more than 230% higher than was projected in 2020.

The inflation rate we are inheriting remains 50% higher than the historic target. It was the highest inflation, probably in the history of our country.

That’s why from the moment I took office, I’ve taken rapid action to reverse each and every one of these radical left policies that created this calamity, in particular with immigration, crime, and inflation.

On day one, I signed an executive order directing every member of my cabinet to marshal all powers at their disposal to defeat inflation and reduce the cost of daily life. I imposed a federal hiring freeze, a federal regulation freeze, a foreign aid freeze, and I created the new Department of Government Efficiency.

I terminated the ridiculous and incredibly wasteful Green New Deal. I call it the Green New Scam. Withdrew from the one-sided Paris Climate Accord and ended the insane and costly electric vehicle mandate. We’re going to let people buy the car they want to buy.

I declared a national energy emergency, and it’s so important, national energy emergency to unlock the liquid gold under our feet and pave the way for rapid approvals of new energy infrastructure.

The United States has the largest amount of oil and gas of any country on Earth, and we’re going to use it. Not only will this reduce the cost of virtually all goods and services, it will make the United States a manufacturing superpower and the world capital of artificial intelligence and crypto.

My administration has also begun the largest deregulation campaign in history, far exceeding even the record-setting efforts of my last term.

In total, the Biden administration imposed $50,000 in additional regulatory costs on the average American household over the last four years.

I have promised to eliminate 10 old regulations for every new regulation which will soon put many thousands of dollars back in the pockets of American families.

To further unleash our economy, our majorities in the House and Senate, which we also took along with the presidency, are going to pass the largest tax cut in American history, including massive tax cuts for workers and family and big tax cuts for domestic producers and manufacturers.

We’re working with the Democrats on getting an extension of the original Trump tax cuts, as you probably know by just reading any paper.

My message to every business in the world is very simple: Come make your product in America, and we will give you among the lowest taxes of any nation on Earth. We’re bringing them down very substantially, even from the original Trump tax cuts.

But if you don’t make your product in America, which is your prerogative, then very simply, you will have to pay a tariff, different ring amounts, but a tariff which will direct hundreds of billions of dollars and even trillions of dollars into our treasury to strengthen our economy and pay down debt.

Under the Trump administration, there will be no better place on Earth to create jobs, build factories or grow a company than right here in the good old USA.

Already, Americans, economic… You can see this, I think, maybe even in your wonderful, wonderful room that you’re all gathered together. So many of my friends But Americans, the economic confidence is soaring like we haven’t seen in many, many decades. Maybe not at all.

Upon my election, it was just announced a small business optimism skyrocketed by 41 points in a single month.

That’s the highest ever. There’s never been anything like that. Softbank has announced between a $100 and $200 billion investment in the US economy because of the election result.

And just two days ago, Oracle, SoftBank Bank and OpenAI announced a $500 billion investment in AI infrastructure.

Other companies, likewise, have announced billions and billions and billions, adding up to trillions of investment in America and the United States.

It’s also reported today in the papers that Saudi Arabia will be investing at least $600 billion in America. But I’ll be asking the Crown Prince, who’s a fantastic guy, to round it out to around one trillion.

I think they’ll do that because we’ve been very good to them.

And I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil. You got to bring it down, which, frankly, I’m surprised they didn’t do before the election.

That didn’t show a lot of love by them not doing it. I was a little surprised by that.

If the price came down, the Russia-Ukraine war would end immediately. Right now, the price is high enough that that war will continue. You got to bring down the oil price.

You’re going to end that war. They should have done it long ago.

They’re very responsible, actually, to a certain extent for what’s taking place. Millions of lives are being lost. With oil prices going down, I’ll demand that interest rates drop immediately, and likewise, they should be dropping Coming all over the world.

Interest rates should follow us all over the progress that you’re seeing is happening because of our historic victory in a recent presidential election, one that has become quite well known throughout the world.

I think a lot of things are happening to a lot of countries.

They say that there’s light shining all over the world since the election, and even countries that we aren’t particularly friendly with are happy because they understand what their is the future and how great the future will be.

Under our leadership, America is back and open for business. This week, I’m also taking swift action to stop the invasion at our southern border.

They allowed people to come in at levels that nobody he’s ever seen before. It was ridiculous.

I decided and declared to do, and very, very importantly, a national emergency on our border immediately halted all entry of illegal border crossers, of which there were many, and began properly returning the illegal trespasses back to the place from which they came.

That action, as you’ve probably seen, has already started very strongly. I’ve deployed active duty US military and National Guard troops to the border to assist in repelling the invasion. It was really an invasion.

We will not allow our territory to be violated after four long years, the United States is strong and sovereign and a beautiful nation, once again. It’s a strong, sovereign nation.

In addition, I’m pleased to report that America is also a free nation once again.

On day one, I signed an executive order to stop all government censorship, No longer will our government label the speech of our own citizens as misinformation or disinformation, which are the favorite words of censors and those who wish to stop the free exchange of ideas and frankly, progress.

We have saved free speech in America, and we’ve saved it strongly. With another historic executive order this week, I also ended the weaponization of law enforcement against the American people and frankly, against politicians, and restored the fair, equal, and impartial rule of law.

My administration has taken action to abolish all discriminatory diversity, equity, and inclusion nonsense.

These are policies that were absolute nonsense throughout the government and the private sector. With the recent, yet somewhat unexpected, great Supreme Court decision just made, America will once again become a merit-based country.

You have to hear that word, merit-based country. I’ve made it official and official policy of the United States that there are only two genders, male and female. We will have no men participating in women’s sports, and transgender operations, which have become the rage, will occur very rarely.

Finally, as we restore common sense in America, we’re moving quickly to bring back strength and peace and stability abroad. I’m also going to ask all NATO nations to increase defense spending to 5% of GDP, which is what it should have been years ago. It was only at 2%, and most nations didn’t pay until I came along.

I insisted that they pay, and they did because the United States was really paying the difference at that time, and it was unfair to the United States. But many, many things have been unfair for many years to the United States. Before even taking office,

my team negotiated a ceasefire agreement in the Middle East, which wouldn’t have happened without us, as I think most of the people in the room know. Earlier this week, the hostages began to return to their families.

They are returning, and it’s a beautiful sight, and they’ll be coming in more and more. They started coming back on Sunday.

Our efforts to secure a peace settlement between Russia and Ukraine are now hopefully underway.

It’s so important to get that done That is an absolute killing field. Millions of soldiers are being killed. Nobody’s seen anything like it since World War II. They’re laying dead all over the flat fields.

It’s a flat field farmland, and there’s millions of Russians and millions of Ukrainians. Nobody’s seen anything like it since World War II. It’s time to end it. Here in America, we have big events coming up. Next year, we have the 250th anniversary of America’s founding.

I’m so honored to be President during that. That’s been a big event. They’ve been talking about it for 10 years.


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