President Donald Trump on Wednesday reiterated key campaign promises while speaking at the World Economic Forum, touching on the growing U.S. debt, housing affordability, credit card interest rates and energy policy.
Asked about the national debt nearing $40 trillion — larger than the country’s annual economic output — Trump said increased economic growth, along with efforts to eliminate fraud and excessive government spending, would help rein it in.
On housing, Trump said he does not want the United States to become “a nation of renters.” He criticized corporations for purchasing increasing numbers of single-family homes, noting that he signed an executive order that aims to restrict large institutions from buying such properties.
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"Homes are built for people, not for corporations," Trump said.
Trump also addressed consumer debt, saying he has urged credit card companies in recent weeks to cap interest rates at 10%. He also called on Congress to mandate a one-year cap on credit card interest rates at that level.
Energy costs were another focus, with Trump acknowledging concerns from consumers about rising electricity prices. He said companies building data centers should be required to construct and pay for their own power plants.
Trump also criticized China’s reliance on renewable energy, particularly wind and solar power, dismissing those investments and signaling a continued shift away from renewable energy incentives in the United States following recent policy rollbacks.
