By Echo Wang, Marwa Rashad and Trevor Hunnicutt
DAVOS, Switzerland (Reuters) -U.S. President Donald Trump demanded OPEC lower oil prices and the world drop interest rates in a speech to global business and political leaders and warned them they will face tariffs if they make their products anywhere but the U.S.
“I’ll demand that interest rates drop immediately. And likewise, they should be dropping all over the world,” Trump said via video to the World Economic Forum in Davos, Switzerland, on Thursday. “I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil.”
The remarks, Trump’s first to global leaders in his four-day-old presidency, bolster the message that his second term will eschew free market norms inside the U.S. and out.
Despite robust comments on the tariffs he wants to put in place, he did not provide specifics at a time when markets are on edge over his plans.
Oil prices turned negative as Trump…
