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Trump Says GDP Growth Will Be 'Much Higher' Than 4% In Davos Interview

Trump Says GDP Growth Will Be 'Much Higher' Than 4% In Davos Interview

President Donald Trump's speech Friday at the World Economic Forum in Davos, Switzerland was a pitch to the global community in which the president laid out key reasons to do business in America. Ahead of the speech, Trump spoke with CNBC's Joe Kernen to discuss tax reform, the business environment and more.

'We Have To Take Care Of Our Home' 

Many individuals associate the Davos World Economic Forum with "global elites," Kernen said. But Trump said that's not the case. 

"So when I decided to come to Davos I didn't think in terms of elitists or globalists. I think I thought in terms of lots of people people that want to invest lots of money, and they're all coming back to the United States, they're coming back to America," he told the CNBC host. 

Kernen suggested Trump had "moved a little [toward] the center" on globalism. 

Trump replied: "We love global, but we love home. We have to take care of our home."

Tax Reform 'Better Than We Thought' 

The large number of corporations who are giving employees cash bonuses is a sign that the effect of the tax legislation Trump signed earlier this month is "even better than we thought" it would be, he said. Almost 3 million workers across the U.S. are receiving cash bonuses, something which "nobody ever thought" would be possible, Trump said. 

JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon told Kernan a 3-percent GDP growth rate was possible and 4 percent could be achieved in 2018, the host said. 

Trump said he thinks the GDP will rise "much higher than that." 

The president also touted deregulation during the CNBC appearance. 

"Don't kid yourself, regulations are just as big as the tax cuts. I've cut more regulations than any president in history and I've been here for one year."

Related Links:

The Stock Market's Rally Under Trump Among The Best Ever: Here's How His First Year Compares To Other Presidents

Apple Says It Will Invest $350 Billion In The US

Screenshot from CNBC. 


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