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Donald Trump called on OPEC to lower global oil prices and insisted that central banks around the world would cut interest rates “immediately” afterwards.
In a speech to leaders in Davos on Thursday, the US president urged Saudi Arabia and other producers to reduce the cost of crude oil, expressing dismay that they had not already done so.
“I will ask Saudi Arabia and OPEC to lower the cost of oil. You have to bring him down. Which, frankly, I’m surprised they didn’t do before the election,” he said.
“Right now the price is high enough for this war to continue,” he said, referring to Russia’s full-scale invasion of Ukraine.
“We must lower the price of oil, that will put an end to this war. You could end this war,” he added.
The US president also used his speech to insist that companies around the world manufacture their products in the United States – or face draconian tariffs on imported products entering the US market.
He touted his economic agenda of radical deregulation and the “largest tax cut in American history” to business and world leaders, calling it “nothing short of a common-sense revolution.” .
This is a developing story