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The biggest moments from Trump's Davos 2026 address
Donald Trump's speech at the World Economic Forum's annual meeting in Davos covered topics such as Greenland, windmills, NATO, and shifting global power. These were the moments that mattered most and why they're fueling debate.Read the original article on Business Insider
Trump says his call for a 10% credit card cap sounds like Zohran Mamdani's idea
Trump said it "sounds like the mayor of New York maybe came up with that," referring to his call for a 10% cap on credit card interest rates.Demetrius Freeman/The Washington Post via Getty ImagesTrump wants a 10% cap on credit card interest rates. So do many progressives.Trump acknowledged that strange political alignment in a CNBC interview in Davos.He said the idea "sounds like the mayor of New York maybe came up with that."President Donald Trump knows he's aligning himself with the progressive left when it comes to credit cards.During an interview with CNBC's Joe Kernen in Davos on Wednesday, Trump acknowledged that his call for a 10% cap on credit card interest rates isn't a standard conservative policy.In fact, he joked that it's something that New York City Mayor Zohran Mamdani, a Democratic socialist, might have come up with."I know it's sort of like… it sounds like the mayor of New York maybe came up with that," Trump said with a laugh.Following Mamdani's election in November, the two met in the Oval Office and appeared to share some common ground in remarks to the press afterwards."I'm conservative, but I think I'm common sense, you know?" Trump said on Wednesday. "People say, 'Are you a conservative?' I say, 'Yeah, but I'm a common-sense person.' I mean, I do things that aren't necessarily that conservative sometimes."Trump said he respected credit card companies but that consumers can't afford to pay high rates."Whatever happened to usury? They can't pay 28%," Trump said.Earlier on Wednesday, Trump called on Congress to pass a bill capping credit card interest rates at 10% for one year.Key Republicans in Congress have been cool to that idea, with House Speaker Mike Johnson telling reporters last week that Trump "probably had not thought through" the potential downsides of the policy and that credit card companies may "just stop lending money" or "cap what people are able to borrow at a very low amount."Many business leaders have also been critical of the idea.Yet Trump's call has also been met with agreement from some progressives, including Sen. Elizabeth Warren of Massachusetts, whom Trump called last week.In Congress, Independent Sen. Bernie Sanders of Vermont and Republican Sen. Josh Hawley of Missouri have introduced a bill that would do just what Trump said, capping credit card rates at 10% for a year.Read the original article on Business Insider
Trump said he agreed to lower tariffs on Swiss goods after meetings with Rolex and other leaders
President Donald Trump gave a speech in Davos, Switzerland.Chip Somodevilla/Getty ImagesPresident Donald Trump said he reduced tariffs on Swiss imports after meeting with executives.He said at the World Economic Forum in Davos that he met with Rolex and others in Switzerland. The tariff rate on Swiss goods dropped from 39% to 15% last year.President Donald Trump had a change of heart on tariffs after meeting with Rolex and other Swiss companies.Trump addressed the World Economic Forum in Davos, Switzerland, on Wednesday, where he shared an anecdote about his decision to lower the tariff rate on Swiss imports from the 39% he proposed in July. He said meetings with Swiss businesses, including watchmaker Rolex, influenced the decision.Trump said, "all hell really broke out" after he proposed the tariff rate."I was paid visits by everybody," he said. "Rolex came to see me." Trump said that watch brands like Rolex had contributed to a trade deficit with Switzerland. "But I realised, and I reduced it because I don't want to hurt people," he said of the tariff rate.As it stands, there's a 15% cap on the tariff rate for Swiss imports.However, that rate could change again, Trump said. He said he initially planned a 30% tariff on Switzerland, then raised it to 39%, before lowering it to 15%. "We brought it down to a lower level. Doesn't mean it's not going up, but we brought it down to a lower level," Trump said.Some US watch sellers have said higher tariff rates could lead Swiss watchmakers to raise prices, which could affect consumers.Rolex didn't immediately respond to a request for comment from Business Insider.Swiss business leaders met with Trump last year to discuss the tariffs, and Rolex left him with a desk clock modeled after one of its iconic watches, watch publication Hodinkee reported.Trump had kind words for Swiss watchmakers at Davos."They make beautiful watches, great watches, Rolex, all of them," he said.Read the original article on Business Insider
