Trump reminded the audience that when he spoke here in 2018 “I told you that we had launched the great American comeback.”
“Today I’m proud to declare the United States is in the midst of an economic boom, the likes of which the world has never seen before,” the president said.
American economist Kenneth Rogoff took issue with Trump’s comments, saying some of Trump’s claims about the strength of the U.S. economy are true. But Rogoff noted that the economy wasn’t doing badly when Trump took office. “It’s been a good 10 years and his three years probably better than expected,” Rogoff said, adding that he thought Trump was careful to keep his comments about climate change to a minimum to avoid getting booed.
Climate issues are a main theme at the forum and the phrase “Act on Climate” was written in the snow at the landing zone where Trump’s Marine One helicopter set down in Davos.
Late last year, the Trump administration began pulling the U.S. out of the landmark 2015 Paris climate agreement under which nearly 200 nations set goals to curb emissions of heat-trapping gasses that lead to climate change. Trump has called the Paris accord an unfair economic burden to the U.S. economy.
Trump’s speech was met with virtual silence by the audience, apart from a brief flurry of applause when Trump said the U.S. would join a World Economic Forum initiative to plant 1 trillion trees worldwide.
Climate activist Greta Thunberg, who has been criticized by Trump, said world and business leaders aren’t taking the threat of global warming seriously.
“Planting trees is good of course but it’s nowhere near enough,” Thunberg said.
Trump’s participation at the forum provided another conspicuous split-screen moment in his presidency. Before entering the hall to deliver his speech, Trump called the trial “disgraceful” and part of “the witch hunt that’s been going on for years.”
Asked whether Trump would tune in to the impeachment trial, White House press secretary Stephanie Grisham said in an email that Trump has a “full day” in Davos “but will be briefed by staff periodically.”
Trump spent nearly all of his approximately 30-minute speech describing U.S. economic gains under his leadership.
“America is thriving. America is flourishing and yes, America is winning again like never before,” Trump said before talking about a newly signed trade deal with China and a pending U.S. trade agreement with Mexico and Canada. He also spoke of record low unemployment, stock market gains and millions of people removed from the welfare rolls.
Nobel prize-winning economist Joseph Stiglitz criticized Trump for failing to address the climate emergency beyond a commitment that the U.S. will join the trillion trees initiative.
“He managed to say absolutely zero on climate change,” Stiglitz said. “Meanwhile we’re going to roast.”
Trump’s appearance at the forum ends Wednesday when he travels back to a Washington that’s consumed by the impeachment trial.
The Democratic-controlled House impeached the Republican president last month for abuse of power and obstruction of Congress after it was revealed that he had pressed Ukraine’s president to announce investigations into former Vice-President Joe Biden, a Democrat and a Trump political rival. Trump withheld foreign aid that Congress had approved for the Eastern European nation and dangled the prospect of an Oval Office meeting as leverage.
Trump denies any wrongdoing and argues that Democrats want to remove him from office because they know they can’t deny him reelection in November. Trump would be forced to leave office if convicted, but the Republican-controlled Senate is expected to acquit him.
Trump met Tuesday with the forum’s founder and the new European Commission president, Ursula von der Leyen, the first woman to hold the position. Trump zeroed in their first meeting on her reputation as a tough negotiator, saying that was “bad news for us.”
“Trade right now and a deal between ourselves and essentially Europe is something that we all want to be able to make,” Trump said.
Trump also was meeting Tuesday with the leaders of Switzerland and Pakistan.
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Associated press writers Jamey Keaten and Pans Pylas in Davos contributed to this report.
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Follow Darlene Superville on Twitter: http://www.twitter.com/dsupervilleap
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets also climbed higher.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
This report by The Canadian Press was first published Sept. 13, 2024.
OTTAWA – Statistics Canada says wholesale sales, excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain, rose 0.4 per cent to $82.7 billion in July.
The increase came as sales in the miscellaneous subsector gained three per cent to reach $10.5 billion in July, helped by strength in the agriculture supplies industry group, which rose 9.2 per cent.
The food, beverage and tobacco subsector added 1.7 per cent to total $15 billion in July.
The personal and household goods subsector fell 2.5 per cent to $12.1 billion.
In volume terms, overall wholesale sales rose 0.5 per cent in July.
Statistics Canada started including oilseed and grain as well as the petroleum and petroleum products subsector as part of wholesale trade last year, but is excluding the data from monthly analysis until there is enough historical data.
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in the base metal and energy sectors, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 172.18 points at 23,383.35.
In New York, the Dow Jones industrial average was down 34.99 points at 40,826.72. The S&P 500 index was up 10.56 points at 5,564.69, while the Nasdaq composite was up 74.84 points at 17,470.37.
The Canadian dollar traded for 73.55 cents US compared with 73.59 cents US on Wednesday.
The October crude oil contract was up $2.00 at US$69.31 per barrel and the October natural gas contract was up five cents at US$2.32 per mmBTU.
The December gold contract was up US$40.00 at US$2,582.40 an ounce and the December copper contract was up six cents at US$4.20 a pound.
This report by The Canadian Press was first published Sept. 12, 2024.
