At the 2025 Davos World Economic Forum in Switzerland, U.S. President Donald Trump reaffirmed his “America First” agenda by threatening to impose new tariffs on countries he accuses of engaging in unfair trade practices. Addressing a group of global leaders, trade executives and policymakers, Trump underscored his commitment to protecting American industries and workers.
Trump’s message in Davos
In his speech, Trump accused several countries, including major trading partners, of manipulating markets and creating trade imbalances that harm the U.S. economy. He specifically pointed to issues such as currency manipulation, intellectual property theft and government subsidies for foreign industries as reasons to consider new tariffs.
“The days of taking advantage of the United States are over,” Trump said. “If you’re not playing fair, you’re going to have to suffer the consequences in the form of tariffs and other economic measures.” Trump’s warning echoes similar rhetoric from his first term, during which he imposed tariffs on steel, aluminum and other imports, creating tensions with allies and trade partners such as China and the European Union.
Possible targets of tariffs
Although Trump did not name specific countries, analysts predict that China, Germany and several other major exporters could be among the targets. He also hinted at imposing tariffs on industries that contribute to climate change, a move that would hit European countries that advocate strict environmental policies.
Global response
Trump’s comments generated mixed reactions at the forum. Some business leaders expressed concern that new tariffs could destabilize global markets and hinder economic recovery after recent global challenges.
EU President Ursula von der Leyen responded by emphasizing the importance of open trade and cooperation. “Trade wars benefit no one. We must work together to build a fair and sustainable global economy,” she said. However, Trump’s stance aligns with some US business leaders and policymakers who believe tariffs could put pressure on trading partners to strike better deals.
Economic implications
If implemented, the proposed tariffs could lead to a new wave of trade disputes and retaliation from affected countries. Economists warn this could lead to higher prices for US consumers and strain relations with key allies.
Looking ahead
Trump’s tariff threats signal his intention to continue prioritising US interests on the global stage. As the Davos summit comes to an end, all eyes will be on how the international community reacts to it and whether Trump goes ahead with his plans.
