Donald Trump flies out for Davos pushing 'America First' agenda
13:16, Jan 28, 2018
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Trump is attending the global economic conclave in Davos, Switzerland, not because he has come around to the views broadly shared by the sort of worldwide financial elite, government figures and academics who gather annually in a Swiss ski town.
But the president, in a gathering dominated by the rich, is in a comfort zone underscored by his own wealth.
Briefing White House reporters this week, Trump's chief economic adviser Gary Cohn said the president would use his speech at Davos to tell the world America is open for business.
He is the first sitting USA president to attend the forum since Bill Clinton in 2000.
As for Trump's new tax law, it reduced corporate tax from 35% to 21% and encouraged American companies to bring overseas cash back home. Chinese President Xi Jinping delivered a similar message in 2017.
After a gala opening set against spectacular snowfall, the World Economic Forum starts in earnest on Tuesday basking in robust global growth but facing warnings that the world's have-nots are missing out more than ever.
Pressed on whether the gathering - known to attract the so-called "globalists" derided by some factions of the Republican Party - aligned with the president's populist economic rhetoric, Chao defended the summit as a unique opportunity for world leaders to gather and exchange ideas.
Trump, who is due to make his own speech on Friday, argues that a strong US economy is a boon to the wider world.
The White House raised eyebrows by announcing Trump would become the first sitting USA president since Bill Clinton in 2000 to attend the event.
"The entrepreneurial world has enormous potential to effect substantial change by increasing the quality of productivity, creating new jobs, respecting labor laws, fighting against. corruption and promoting social justice", said the pontiff.
This year's forum will be attended by a record high number of political leaders.
Without naming Trump, German Chancellor Angela Merkel evoked the build-up to the two world wars and openly questioned whether leaders had learned the lessons from those 20th century conflicts.
Davos was opended on January 23 by Indian Prime Minister Narendra Modi said the world is facing many new and serious challenges from the rise of anti-globalization to technological changes and the environment. He will address the worldwide business and political forum on Friday.
1987: Professor Schwab changed the name of the event to the World Economic Forum.
"The bull market seems to be steamrollering over everyone who has a bearish view", said Tim Adams, president of the Institute of International Finance who will be in Davos.
"America First' does mean working with the rest of the world", said Mnuchin, who is leading the largest US delegation ever to attend the exclusive gathering. "Trade agreements have come to a standstill".
Ahead of the trip, Mr Trump imposed tariffs on imported solar panels and washing machines. It has been reported in the USA that his attendance is little more than an opportunity to be with global business leaders who are pleased with his recent tax break for the richest 1 percent worth trillions of dollars.
Trudeau weighed in later, celebrating the announcement of a new Asia-Pacific trade agreement between 11 countries, including Canada, to replace the one that Trump pulled out of previous year.
"The president believes we can have truly win-win agreements. America first is not America alone".
Noah Rothman, associate editor at Commentary magazine, said the populist display is largely cosmetic.
Trump's administration is also renegotiating the North Atlantic Free Trade Agreement (NAFTA).
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