U.S. President Donald Trump outlined his strategy to strengthen the U.S. economy and “unleash” investment in a wide-ranging speech during his participation at Davos 2025, the World Economic Forum Annual Meeting, via live video.
The newly inaugurated president pledged “the largest tax cut in American history” including “massive” tax cuts for workers and families. He added that he would reduce corporate tax from 21 percent to 15 percent and that foreign companies manufacturing goods in the U.S. would benefit directly while warning of placing tariffs on those that didn’t.
Trump calls for lowering oil prices
At Davos 2025, Trump also announced plans to increase investments in energy by facilitating the permit process for new projects. “The United States has the largest amount of oil and gas of any country on Earth, and we’re going to use it,” said Trump.
He added that this would benefit the country’s artificial intelligence and cryptocurrency industries. “America is back and open for business,” he said.
Trump also noted that lowering oil prices could be a key contributor to ending the Ukraine-Russia war, urging Saudi Arabia and OPEC to reduce oil prices. “You’ve got to bring down the oil price…Right now, the price is high enough that that war will continue,” he stated.
Trump added that he would like to meet with President Putin soon and “get the war ended,” highlighting the heavy human cost of the war where “millions of lives are being lost.” He suggested that Ukraine is open to making a deal and that the responsibility remains on Russia to come to the table.
Ethical accountability in developing AI
Speaking on behalf of His Holiness Pope Francis, Cardinal Peter Kodwo Turkson of the Holy See, said that the theme of Davos 2025, “Collaboration for the Intelligent Age”, offers an opportunity to reflect on AI as a powerful tool for cooperation and unity.
Reading a letter to Klaus Schwab, World Economic Forum founder and chairman of the board of trustees, Turkson said that the Catholic Church has long been a champion of advancing science, technology and the arts, seeing them as vital areas of collaboration and growth for humanity.
However, the Pope noted that governments and businesses have a responsibility to exercise due diligence and vigilance in their adoption of AI. “The potential of AI to produce outputs indistinguishable from human creations raises profound ethical concerns, particularly regarding its impact on the growing crisis of truth in public discourse,” the Pope wrote.
He also called for a collective effort among corporations, institutions, governments and international organizations to ensure AI serves the good of all. He added that by fostering a culture of ethical accountability, AI can contribute to a more united and just global society.
New approach to economic policy needed
In a special address at Davos 2025, Argentinian President Javier Milei expressed strong views on a range of issues. On economic policy, he urged leaders to look for new approaches. “The script of the last 40 years has run out” and the time had come to “break free and be bold,” he said.
He also pointed to Argentina as an example to follow. “The world has embraced Argentina. Argentina has become a global example of fiscal responsibility, of commitment to honoring our obligations, and obviously a commitment to solving the inflation problem,” he added.
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UAE delegation meets Professor Klaus Schwab
During Davos 2025, the UAE delegation, led by Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority, engaged in a significant meeting with Professor Klaus Schwab. The meeting underscored the UAE’s steadfast commitment to promoting international collaboration and tackling critical global challenges through innovative and sustainable solutions.
The meeting highlighted the UAE’s crucial role as a global partner to the World Economic Forum and its dedication to advancing shared goals. Through this collaboration, the UAE aims to devise innovative solutions that address urgent international challenges while reinforcing its stature as a leader in sustainable development and global progress.
Sheikha Latifa presented the UAE’s vision for global competitiveness, sustainability and inclusive development. She emphasized Dubai’s pioneering initiatives in cultural and creative industries, showcasing the UAE’s leadership in harnessing innovation and collaboration to address shared global issues, including climate change, economic resilience, and the transformative potential of technology.
