cloudy.png
Thursday July 9th, 2020 9:52AM

Trump declares America open for business under his tenure

By The Associated Press

DAVOS, Switzerland (AP) — Playing the role of economic cheerleader, President Donald Trump told an annual gathering of political and business elites Friday that America is open for business and that economic growth in the U.S. under his "America first" agenda could benefit the globe.

Trump told the World Economic Forum in Davos, an incongruous location for a nationalist president, that American prosperity has created countless jobs around the world and he made clear he would remain focused on the U.S. economy.

But with a chamber of commerce-style pitch, the businessman-turned-president used the forum to sell the U.S. as a prime place to conduct business, noting the recent passage of a sweeping tax overhaul.

"America is the place to do business. So come to America, where you can innovate, create and build," Trump said. "I believe in America."

The president sought to strike a balance, tempering his nationalist agenda with reassurances to the globalist and cooperation-minded audience that his protectionist vision "does not mean America alone."

"When the United States grows, so does the world," Trump said. "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."

Trump claimed he had inherited "years of stagnation" in the U.S. but recent economic figures show that U.S. companies and other employers added 2.1 million jobs in 2017, the lowest job growth in seven years.

Taking the stage, Trump received modest applause but some people kept their hands at their sides. The crowd was largely subdued as the president spoke but there were boos and hisses when he took a swipe at "how nasty, how mean, how vicious and how fake the press can be."

The free-trade-focused gathering had viewed Trump with skepticism, given his "America First" message, but the White House has insisted that his protectionist policies and international cooperation can go hand-in-hand.

Trump addressed a crowd of over 1,500 people packed into a high-ceilinged hall in the modern conference center. Anticipation was high from attendees, who had watched the president closely since he arrived, snapping photos when he entered and as he moved from room to room.

Jay Flatley, executive chairman of California-based genome sequencing company Illumina, said Trump's speech was "a very calming presentation, considering how it could have gone."

But Joseph Stiglitz, a frequent Trump critic and Nobel Prize winner in economics, found it far from convincing. He argued that the new U.S. tax cuts will create a bubble in the housing market. "I've never known an economy to grow long-term by real estate speculation," he said.

Others faulted Trump for not using the opportunity to broaden the message beyond business and bring the U.S. into line with concerns expressed by other leaders in Davos — such as on climate change.

"I was very disappointed but not surprised that the president didn't say anything positive about global warming," said Environmental Defense Fund president Fred Krupp. "He talked about doing things in partnership and together, and yet the United States is the only country in the world standing aside from the Paris agreement."

___

Associated Press writers Jamey Keaton and Pan Pylas in Davos, Jonathan Lemire in New York and Ken Thomas in Washington contributed to this report.

___

On Twitter follow Catherine Lucey at @Catherine_Lucey

  • Associated Categories: Associated Press (AP), AP National News, AP Online National News, Top General short headlines, AP Online Headlines - Washington, AP Business, AP Business - Economy
© Copyright 2020 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Trump declares America open for business under his tenure
Trump declares America open for business under his tenure
8:07AM ( 9 minutes ago )
The Latest: Trump to declare US 'open for business' in Davos
President Donald Trump plans to say in his Davos address, "America is open for business and we are competitive once again."
7:58AM ( 18 minutes ago )
Death row inmate with dementia gets stay of execution
The U.S. Supreme Court has temporarily blocked the execution of an Alabama inmate who has dementia
7:54AM ( 21 minutes ago )
Associated Press (AP)
Trump predicts Davos speech will be 'well received'
President Donald Trump said he planned to offer a "positive message" at the World Economic Forum Friday, predicting it would be "very well received."
7:18AM ( 57 minutes ago )
Trump praises African leader after White House dustup
President Donald Trump is seeking to mend relations with a key African leader in the aftermath of his controversial comments about African nations
7:15AM ( 1 hour ago )
Trump predicts Davos speech will be well received
President Donald Trump said he planned to offer a "positive message" at the World Economic Forum Friday, predicting it would be "very well received."
6:37AM ( 1 hour ago )
AP Online Headlines - Washington
10 Things to Know for Today
Among 10 Things to Know: Trump calls report he ordered Mueller's firing 'fake news'; Trump praises African leader after White House dustup; Trump turns again on immigration, allies bash 'Amnesty Don'
6:36AM ( 1 hour ago )
British economy picked up at end of 2017
The British economy picked up some speed at the end of 2017, which was otherwise a year that saw it slow rapidly amid uncertainties over Brexit
5:26AM ( 2 hours ago )
Global shares recoup losses, dollar steady as eyes on Trump
Shares are mostly higher, recouping losses from earlier in the week as the dollar steadies against other currencies
4:43AM ( 3 hours ago )
AP Business
Starbucks key sales figure disappoints; shares fall
Starbucks reports disappointing sales growth, shares of the coffee chain fall
6:44PM ( 13 hours ago )
Airline stocks drift lower for a second straight day
Planes are full and airlines are making huge profits, but airline stocks tumbled for a second straight day
6:29PM ( 13 hours ago )
Governor boosts California, warns of threats in address
Gov. Jerry Brown celebrated California's economic and environmental progress during his final State of the State address, while also warning that the nation faces stark threats from climate change and nuclear war
5:23PM ( 14 hours ago )
AP Business - Economy
The Latest: Trump to declare US 'open for business' in Davos
President Donald Trump plans to say in his Davos address, "America is open for business and we are competitive once again."
7:58AM ( 18 minutes ago )
Death row inmate with dementia gets stay of execution
The U.S. Supreme Court has temporarily blocked the execution of an Alabama inmate who has dementia
7:54AM ( 21 minutes ago )
Federer in record 7th Aussie Open final after Chung retires
Roger Federer has moved to within one win of 20th Grand Slam singles title after securing his spot in the Australian Open decider when Hyeon Chung retired from their semifinal on Friday night
7:53AM ( 22 minutes ago )
Global stocks recoup losses, dollar steady as eyes on Trump
Shares are mostly higher, recouping losses from earlier in the week as the dollar steadies against other currencies
7:42AM ( 33 minutes ago )
The Latest: Rocket reportedly fired into Turkey from Afrin
Turkey's state-run news agency says a rocket fired from the Syrian enclave of Afrin has hit a Turkish border town, but caused no casualties
7:36AM ( 40 minutes ago )