President Donald Trump told business and political leaders at the World Economic Forum on Wednesday that the United States wants "strong allies" — urging European nations to reverse policies he said have weakened their economies and energy security — while pointing to his administration's agenda as a model for growth.
Trump said the U.S. "cares greatly about the people of Europe" and wants Europe to be "strong," casting energy, trade, immigration, and economic growth as central issues for maintaining a "strong and united West."
However, he warned in his speech airing live on Newsmax and Newsmax2, allies risk becoming "seriously weakened," which he said carries national security consequences.
Parts of Europe are "not even recognizable" compared with past years, said Trump, blaming what he called a conventional governing approach in Washington and European capitals that relies on higher government spending, mass migration, and dependence on foreign imports.
Trump said the U.S. has rejected that model and delivered what he described as an "economic miracle," saying his administration's first year produced a transformation "like America has not seen in over 100 years."
He pointed to steps he said were designed to expand domestic industry and lower consumer costs, including reopening energy plants, reducing the size of the federal workforce, cutting regulations, and pairing lower taxes for domestic producers with higher tariffs on foreign nations.
Trump said his administration removed 270,000 federal workers from payrolls, cut federal spending by $100 billion, and reduced the budget deficit by 27% in a single year.
He also said inflation has fallen from what he called record highs under former President Joe Biden.
On regulation, Trump said he pledged to eliminate 10 old rules for every new one but claimed the administration has cut 129 regulations for every new regulation approved so far.
Trump also highlighted what he described as the largest tax cuts in U.S. history, including proposals he said eliminate taxes on tips, overtime pay, and Social Security benefits, while allowing 100% expensing and bonus depreciation for new equipment and capital investments to encourage companies to expand and shift production to the United States.
On trade, Trump said tariffs helped reduce the monthly trade deficit by 77% and said U.S. exports are up by more than $150 billion.
He also cited higher domestic steel production and increased factory construction and said the United States has secured major trade agreements covering a large share of U.S. commerce, including energy-focused deals.
He noted that he halted policies he said drove up prices and sent factories abroad. He claimed U.S. natural gas production is at an all-time high, and oil production has risen by 730,000 barrels per day, while also touting lower gasoline prices.
"Under my leadership, U.S. natural gas production is at an all-time high," said Trump. "U.S. oil production is up by 730,000 barrels a day, and last week we picked up 50 million barrels from Venezuela alone."
He said he has directed approvals for new nuclear reactors, describing nuclear energy as safer and more viable than in the past, and argued that expanding power generation is necessary to support rapid growth in artificial intelligence.
Trump said his administration has allowed large companies to build their own electric generating capacity to meet soaring demand.
Turning back to Europe, Trump criticized wind power and what he called "green" policies, arguing they have led to lower electricity production and higher prices in some countries. He said the consequences of those policies include weaker economic growth and living standards, lower birth rates, more disruptive migration, and smaller militaries.
He said he wants Europe to reverse course, arguing that a stronger Europe is in the interest of the U.S. and the broader Western alliance.
Newsmax's Sandy Fitzgerald contributed to this report.
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