US President Donald Trump on Wednesday addressed the World Economic Forum (WEF) in here, where he strongly promoted what he called the "American growth miracle" and praised his administration's economic record.
Speaking to global leaders and business executives, Trump said the United States had transformed from a "dead economy" into the "hottest economy in the world" within one year of his return to the White House.
He claimed that growth, productivity, investment and incomes were all rising rapidly, while inflation had been brought under control.
"After 12 months back in the White House, our economy is booming. Growth is exploding, productivity is surging, investment is soaring, incomes are rising. Inflation has been defeated," Trump said, calling it the fastest and most dramatic economic turnaround in US history.
Trump sharply criticised former President Joe Biden, accusing his administration of creating stagflation, a situation of low growth and high inflation.
According to Trump, his policies have reversed that trend. He said the country is now witnessing very low inflation and exceptionally strong economic growth.
Highlighting Wall Street's performance, Trump said the US stock market has touched record highs 52 times since the election.
He also claimed that the US economy is growing at almost double the rate projected by the International Monetary Fund last year and could grow even faster under his tariff and growth policies.
Calling the US the "economic engine of the planet," Trump said that when America prospers, the rest of the world benefits as well. He added that this has been proven repeatedly throughout history.
Trump also spoke about Europe, saying that many parts of the continent have changed so much that they no longer feel familiar to him.
He expressed concern about Europe's future, stating that it is not moving in the right direction. He blamed Europe's challenges on strong green energy policies and large-scale migration.
While he said he wanted Europe to do well, Trump warned that its current direction could lead to further economic and social difficulties.
Trump seeks talks to acquire Greenland, its 'core national security interest'
US President Donald Trump has said the United States should reopen negotiations with Denmark to acquire Greenland, arguing that the vast Arctic territory is a "core national security interest" and can only be protected by Washington amid rising global military threats.
"No nation or group of nations is in any position to be able to secure Greenland, other than the United States," Trump said, asserting that the island occupies a critical strategic position "right smack in the middle" between the US, Russia, and China.
Referring to World War II during his address at the World Economic Forum (WEF) in Davos, Trump recalled that Denmark was unable to defend either itself or Greenland after falling to Nazi Germany. "The United States was then compelled... to send our own forces to hold the Greenland territory," he said, adding that American troops protected the island "at great cost and expense" to prevent enemy forces from gaining a foothold in the Western Hemisphere.
Trump said the US later returned Greenland to Denmark after the war, a move he questioned sharply. "After the war, which we won... we gave Greenland back to Denmark. How stupid were we to do that?" he said, while also accusing Denmark of ingratitude despite American wartime sacrifices.
Arguing that the security environment has fundamentally changed, Trump warned that modern warfare now involves missiles, nuclear weapons, and advanced systems that were not present decades ago. "Our country and the world face much greater risks than it did ever before," he said, citing recent conflicts as evidence of rapidly evolving military capabilities.
Trump dismissed claims that Greenland's value lies in rare earth resources, saying, "That's not the reason we need it." Instead, he stressed that the island's importance is rooted in "strategic national security and international security."
"This enormous unsecured island is actually part of North America, on the northern frontier of the Western Hemisphere," Trump said. "That's our territory. It is therefore a core national security interest of the United States of America."
He said it has long been US policy to prevent outside powers from entering the hemisphere, adding that American Presidents have sought to purchase Greenland "for nearly two centuries."
Trump criticised Denmark for failing to honour its defence commitments. He noted that Copenhagen had pledged in 2019 to spend over $200 million to strengthen Greenland's defences but "spent less than 1 per cent of that amount."
"It's the United States alone that can protect this giant mass of land, this giant piece of ice," Trump said, arguing that American ownership would benefit both Europe and NATO.
He rejected concerns that acquiring Greenland would threaten the NATO alliance. "This would not be a threat to NATO. This would greatly enhance the security of the entire Alliance," he said.
Trump said the US needs "right title and ownership" of Greenland to defend it effectively. "You can't defend it on a lease," he said, calling ownership necessary both legally and psychologically.
"All the United States is asking for... is this land," Trump said, describing it as a "very small ask compared to what we have given them for many, many decades."
At Davos, Trump delivers a blunt message — hits Europe over NATO, Ukraine costs
US President Donald Trump on Wednesday slammed America's traditional allies, European leaders, and NATO member countries, for what he described as relying disproportionately on US military power and financial support while failing to adequately defend their own security interests, even as Washington bears the brunt of the Ukraine war.
"The United States is treated very unfairly by NATO," Trump told a gathering of European and global leaders at the World Economic Forum (WEF) meeting in Switzerland's Davos, arguing that America has long paid far more than its allies for Europe's defence. "We give so much and we get so little in return," he said.
Trump said NATO would not exist in its current form without his leadership. "You wouldn't have NATO if I didn't get involved," he said, claiming he forced alliance members to dramatically increase defence spending after years of non-compliance.
He said most NATO countries had failed to meet even the earlier requirement to spend two per cent of GDP on defence. "They didn't pay the two, and now they're paying the five," Trump said, asserting that he pushed allies to commit to defence spending levels that were previously considered impossible.
The US President questioned whether European allies would respond if the United States were attacked. "We'll be there for them 100 per cent," he said. "I'm not sure that they'd be there for us."
Turning to the war in Ukraine, Trump said the conflict "should have never started" and blamed it on leadership failures following his earlier term. He said Washington has spent enormous sums with little appreciation from Europe.
"Biden had given Ukraine and NATO $350 billion, staggering, some $350 billion," Trump said, adding that the United States is separated from the conflict by "a big, beautiful ocean."
"What does the United States get out of all of this work, all of this money, other than death, destruction and massive amounts of cash going to people who don't appreciate what we do?" he asked.
Trump described the war as a humanitarian catastrophe, citing heavy monthly casualties. "It's a bloodbath," he said, adding that tens of thousands of soldiers have been killed in successive months. "These are souls. These are young people."
He said his primary objective was to end the fighting. "It's the only reason I'm interested in doing it," Trump said, adding that he believed both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky were willing to negotiate. "I believe I'm dealing with President Putin, and he wants to make a deal. I believe I'm dealing with President Zelensky, and I think he wants to make a deal."
Trump argued that the war benefits Europe far more than the United States. "I'm helping Europe. I'm helping NATO," he said, while questioning why Washington continues to shoulder the main burden.
He also accused European nations of exploiting the US economically and militarily for decades. "We're not going to subsidise the whole world," Trump said, warning that America would no longer tolerate one-sided arrangements.
Recounting private exchanges with European leaders, Trump said he used the threat of steep tariffs to force compliance. "You're going to do it fast," he said he told one leader, warning of tariffs of up to 25 per cent or even 100 per cent on exports.
"This is also national security we're talking about," Trump said, adding that without US military protection, many countries would face threats they "wouldn't believe."
Trump said America has historically paid for Europe's safety while receiving nothing in return. "We've never gotten anything except we pay for NATO," he said, adding that this imbalance only changed after he took office.
He warned that US patience has limits. "We'll be there for them," Trump said, "but I don't know that they'd be there for us."
(With inputs from IANS)
