Davos: Donald Trump tells industry leaders "America is open for business"

President Donald Trump has today asked global businesses to invest in the USA, saying that "America is open for business".

Speaking at the World Economic Forum in Davos, Switzerland, he told delegates that there has "never been a better time to hire, to invest, to build in the United States".

"Come to America where you can innovate, create and build," he said. "I believe in America."

The President's administration has made sweeping changes to America's tax structure, including slashing corporate tax to 21 per cent from 35 per cent.

Read more: Sugar high from Trump's tax cuts to help boost world economy says IMF

Today he asked businesses to invest in the country, saying it would benefit global interests.

"America first does not mean America alone," he said "When the United States grows so does the world."

Some of the speech had a conciliatory tone towards the global economic community, which was a target for Trump during his presidential campaign.

"I'm here today to represent the interest of American people and to affirm America's friendship and partnership in building a better world," he said.

The President has been an outspoken critic of free trade, but today said the US was open to agreements which were "fair" and "reciprocal".

He also took aim at "unelected bureaucrats" imposing regulation on businesses. "Regulation is stealth taxation," he said.

Read more: Blackrock boss says President Trump has been good for the global economy

Full story: Davos: Donald Trump tells industry leaders "America is open for business": City A.M.

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