WASHINGTON – On Thursday, President Donald Trump announced at the World Economic Forum’s annual meeting in Davos, Switzerland, that America has entered a “Golden Age” and is “back and open for business.”

Participating remotely from the White House, Trump mentioned his early decision as president to declare a national energy emergency to “unlock the liquid gold beneath our feet” and facilitate the swift approval of new energy projects.

“The United States has the most oil and gas resources of any nation on the planet, and we intend to utilize them,” he asserted.

He also stated his intention to reach out to Saudi Arabia and OPEC to lower oil prices.

“If oil costs decrease, the Russia-Ukraine War could end instantly,” Trump claimed. “Currently, the high prices are prolonging the conflict. We need to reduce oil prices to put an end to that war.”

The first day of the meeting came on the heels of Trump’s inauguration, and attendees were anticipating how Trump’s policies would affect the global economy.

This includes potential tariffs on China, Mexico, and Canada, a reassessment of military alliances, urging NATO members to increase their financial contributions, and the fallout from withdrawing from international environmental agreements, like the Paris Agreement established during the Obama administration.

Trump expressed his desire for lower interest rates, hinting at a potential conflict with the Federal Reserve, which independently manages monetary policy, including interest rates.

“I will insist that rates fall right away,” he declared. “And they should decline universally. Interest rates should reflect what we’re doing.”

The Federal Reserve maintained a zero interest rate from March 2020 until March 2022 due to the COVID pandemic. It then raised rates 11 times to manage inflation, but eventually lowered rates three times last year as inflation began to decrease.

Trump also teased the idea of attracting international businesses to invest in America by offering them some of the “lowest taxes” globally.

“Produce your goods in America, and you will enjoy some of the lowest tax rates anywhere in the world,” he remarked. “However, if you choose not to produce in America, expect to pay a tariff.”

Trump began his second term just as a ceasefire was declared in Gaza and with Russia’s invasion of Ukraine approaching its third year.

According to the organizers of the World Economic Forum, this event could redefine international cooperation norms and institutions. Over five days, more than 50 heads of state and over 3,000 leaders from both public and private sectors are participating.

On Wednesday, Trump urged Russian President Vladimir Putin to “end this absurd” war in Ukraine or face repercussions.

He warned of imposing “high taxes, tariffs, and sanctions on Russian goods” entering the United States in a post on Truth Social.

“I don’t wish to harm Russia. I have always respected the Russian people and had a strong rapport with President Putin,” he stated, describing the caution as a “favor” to Russia, whose economic situation he described as “failing.”

“Let’s put an end to this war that never would have happened had I been President,” he added.

On Thursday, he reassured global leaders that he has taken “every necessary action” to undo the “radical left” policies from the previous administration.

“With our leadership, America is back and ready for business,” he stated.

Swapna Venugopal Ramaswamy is a White House Correspondent for News. You can follow her on X @SwapnaVenugopal.