Trump Uses Davos Speech to Claim 'Virtually No Inflation,' Press Europe Amid Greenland Tariff Threats

At the World Economic Forum in Davos, President Donald Trump delivered a combative address attacking Joe Biden’s economic record and urging European leaders to abandon what he called an old 'consensus' of high spending, mass migration and reliance on 'Green New scam' energy. Trump labeled the Biden years a period of 'stagflation' with low growth and high inflation and claimed that after one year back in office the U.S. now has 'virtually no inflation and extraordinarily high economic growth,' asserting his administration has secured record investment commitments of $18–20 trillion after Biden 'secured less than $1 trillion' over four years—figures that sharply conflict with independent data cited by fact‑checkers. The speech comes as Trump is threatening tariffs on several European nations as leverage in his push to acquire Greenland, a move that has already alarmed U.S. allies and drawn criticism from economists who warn new trade shocks could undercut the global expansion he touts. Trump told the Davos audience that when 'America booms, the entire world booms' and cast his rapid turnaround narrative as proof that his economic and energy policies should become the new playbook for Western governments, even as markets and foreign leaders weigh the credibility and risks of his claims. The remarks also extend his domestic political messaging overseas, with heavy emphasis on contrasting his first year back in office with Biden’s tenure as he works to frame 2026 midterm debates around inflation, investment and immigration.