US President Donald Trump on Thursday (Jan 23) addressed the Davos summit, marking his first major speech to global business and political leaders since his return to power.

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"This has been a truly historic week in the United States. Three days ago, I took the oath of office, and we began the golden age of America," Trump said.

"What the world has witnessed in the past 72 hours is nothing less than a revolution of common sense. My administration is acting with unprecedented speed to fix the disasters we've inherited," he added.

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"Our country will soon be stronger, wealthier, and more united than ever before, and the entire planet will be more peaceful and prosperous as a result of this incredible momentum and what we're doing and going to do," the US president said.

Promising big tax relief, Trump said, "Our majorities in the House and Senate, which we also took along with the presidency, are going to pass the largest tax cut in American history, including massive tax cuts for workers and family and big tax cuts for domestic producers and manufacturers. And we're working with the Democrats on getting an extension of the original Trump tax cuts."

'US has largest amount of oil and gas than any country on Earth'

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On oil and gas use, Trump said, "I terminated the ridiculous and incredibly wasteful Green New Deal. I call it the Green New Scam, withdrew from the one-sided Paris climate accord, and ended the insane and costly electric vehicle mandate. The United States has the largest amount of oil and gas than any country on Earth, and we're going to use it."

The 47th US president was addressing the World Economic Forum summit virtually.

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Referring to his recent steps on immigration crackdown, Trump said, "I've deployed active duty US military and National Guard troops to the border to assist in repelling the invasion. It was really an invasion. We will not allow our territory to be violated after four long years."

On his role in Gaza ceasefire, the 47th US president said, "Before even taking office, my team negotiated a ceasefire agreement in the Middle East, which wouldn't have happened without us."

"Our efforts to secure a peace settlement between Russia and Ukraine are now, hopefully, underway. It's so important to get that done," he added.

After Trump, TotalEnergies CEO Patrick Pouyanné, WEF CEO Børge Brende, and WEF founder Klaus Schwab were scheduled to address the summit.

This is not the first time that Donald Trump has addressed the Davos summit.

He spoke at the summit as president in both 2018 and 2020.

(With inputs from agencies)