Davos 2026: President Donald Trump 1/22/26

Summary

Squawk Pod: Davos 2026 – President Donald Trump

Date: January 22, 2026
Host: Joe Kernen (CNBC)
Guest: President Donald Trump
Location: World Economic Forum, Davos, Switzerland

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Episode Overview

This special episode of Squawk Pod centers on President Donald Trump's headline-grabbing appearance at the 2026 World Economic Forum in Davos. CNBC’s Joe Kernen sits down for an extended, newsmaking interview with President Trump, covering breaking developments on U.S.–Europe relations, particularly regarding the Greenland deal, as well as American economic policy, Federal Reserve leadership, Iran sanctions, and initiatives on housing and lending. The conversation blends geopolitical strategy, policy detail, and characteristic Trump commentary, all in the high-stakes, high-profile setting of Davos.

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Key Discussion Points and Insights

1. The Greenland Deal and Arctic Security

[02:44 – 07:07]

• Trump recaps his Davos speech and the breaking news on Greenland:
  • The U.S. is pursuing the "acquisition of Greenland" for security and development:

    “The United States alone... can protect this giant mass of land, this giant piece of ice, develop it and improve it, and make it so that it's good for Europe and safe for Europe and good for us.” (Trump, 03:24)

  • Trump stresses he will not use force:

    “That's probably the biggest statement I made because people thought I would use force. I don't have to use force. I don't want to use force. I won't use force.” (Trump, 03:48)

  • After meetings with NATO, threatened tariffs on Denmark and other European countries are called off as a deal framework is reached:

    “We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic region.” (Costa, 03:59)

• Elements of the deal:
  • The arrangement includes security measures, possible mineral rights, and the ‘Golden Dome’ project:

    “They're going to be involved in the golden dome and they're going to be involved in mineral rights and so are we.” (Trump, 06:42)

  • Trump repeatedly emphasizes the permanence of the agreement:

    “Forever.” (Trump, 06:57, 07:03) “That's better than the Obama deal... with a nine year deal. Now this is forever. This is a long term.” (Trump, 07:08)

2. NATO, Ukraine, and European Alliances

[07:08 – 08:44]

• On the U.S. role in supporting and changing NATO:
  • Trump positions himself as a restorer of NATO finances and strength:

    “I brought them up from 2% to 5% of GDP. They're paying a lot of money. They pay us a lot of money because they buy missiles and they buy a lot of things.” (Trump, 08:07)

• Critical of previous Ukraine aid:

  “Unfortunately, Obama gave him $350 billion for Ukraine, which was just terrible... The whole thing was terrible. It should have never happened.” (Trump, 08:13)

  • Trump says he made deals on rare earths with Ukraine to offset U.S. outlays.

3. Iran Sanctions and Middle East Policy

[08:44 – 12:05]

• Strict sanctions and confrontation:

  “Sanctions 25% for anyone who does business with Iran. And that will go forward.” (Kernen, 09:45; Trump, 09:54)

• Military action and prevention of executions:
  • Trump claims U.S. interventions prevented mass executions in Iran:

    “They were going to hang, hang the old fashioned hanging. They were going to hang 837 people on Thursday. And I told them, you can't do that. If you do that, it's going to be bad... And they canceled it.” (Trump, 09:22)

• On B2 bomber strikes and nuclear redlines:

  “Those things... were totally undetectable... every single one of those bombs hit its targets and just obliterated the place... They can't do the nuclear... if they do it, it's going to happen again.” (Trump, 10:52 – 11:33)

4. Federal Reserve Leadership and Economic Policy

[12:05 – 15:56]

• Trump on Fed Chair succession:
  • Names Rick Rieder among top candidates; criticizes Jay Powell for being "too late" and for enormous expenditures on Fed buildings:

    “All three are good. All three would be, I think, good. We have a problem with the man that's there now. It's a... he's too late. He's always too late, except when it comes to politics for the other side.” (Trump, 12:44)

• Inflation, Growth, and Monetary Policy:
  • Calls for Fed policy modeled after Alan Greenspan’s era, prioritizing economic growth without excessive rate hikes:

    “Growth is not a cause, a big cause of inflation. In fact, it can go the other way... we have almost no inflation for the last three months. We have 1.2% inflation, and yet we've had tremendous growth.” (Trump, 14:18 – 14:51)

• On Powell and real estate:
  • Trump blasts the high cost of Fed headquarters renovations:

    “I could have redone it. I could have fixed it for 25 million bucks... I think he's up to almost $4 billion, the most expensive project ever built per square foot.” (Trump, 15:06)

5. Populism, Credit Card Cap, and Housing Affordability

[17:31 – 20:34]

• Announces intent to cap credit card interest at 10% for one year:
  • “Credit card companies are getting 28%, 30%. These people don't know they're paying that... I'd like to see a one year cap of 10%... They make a lot of money. They got to give people a break.” (Trump, 17:38 – 17:45)
• On limiting corporate home-buying and aiding purchasers:
  • Trump frames measures as "common sense" conservatism:

    “Well, it's also aimed at common sense again, but they were buying up all the homes. People couldn't buy homes... We want people to be able to buy a home.” (Trump, 20:06)

• Style of governance:

  “I'm conservative, but I think I'm common sense... I do things that aren't necessarily that conservative sometimes...” (Trump, 18:52)

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Notable Quotes and Memorable Moments

• On the Greenland deal length:

  “Forever.” (Trump, multiple times — 06:57, 07:03)

• On not using force:

  “I don't have to use force. I don't want to use force. I won't use force.” (Trump, 03:48)

• On political critics:

  “If I came up with the cure to cancer, they'd say, why didn't you do it faster? If you walked on water, — be you can't swim.” (Trump, 10:35; Kernen, 10:41)

• On monetary policy and the stock market:

  “In the old days, when you had a good run... the stock market would go up. Now the stock market crashes every time you have good numbers because they think everyone's going to raise rates.” (Trump, 14:18)

• On financial fairness:

  “Whatever happened to usury? They can't pay 28%... I'd like to see a one year cap of 10% with the credit card companies.” (Trump, 17:43 – 17:45)

• On governing philosophy:

  “I'm conservative, but I think I'm common sense. You know, it's like people say, are you a conservative? I say, yeah, but I'm a common sense person.” (Trump, 18:52)

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Timeline of Important Segments

• [02:44 – 07:07] Greenland deal details, security, and permanence ("forever"); Trump on avoiding use of force.
• [07:08 – 08:44] Trump on strengthening NATO, Ukraine's financial support, criticism of prior administration.
• [08:44 – 12:05] Iran: sanctions, preventing executions, U.S. military action, nuclear red lines.
• [12:05 – 15:56] Federal Reserve: succession, criticism of Jay Powell, philosophy on rates and growth.
• [17:31 – 18:30] Proposal for one-year 10% credit card interest rate cap.
• [20:06 – 20:34] Limits on corporate single-family home purchases; housing affordability.
• [18:52 – 20:06] Trump on his 'common sense conservatism'; energy deals with Venezuela.

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Tone and Takeaways

The conversation is classic Trump—unfiltered, bold, and heavy on superlatives—blending breaking policy news with economic commentary and a dose of Trumpian bravado. The President focuses on "big, forever" deals, touts results in economic growth, and blends populist measures with conservative values. Kernen plays a balancing act, probing, reflecting, and at times joking with the President, creating an engaging, often rapid-fire discussion well-suited to Squawk Box's energetic tone.

This summary provides a comprehensive map of the key subjects and memorable exchanges from an episode at the intersection of geopolitics and U.S. economic policy—directly from Davos, 2026.

Transcript

[Joe Kernan]

Hey, Fidelity.

[Fidelity Announcer]

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[Fidelity App Promoter]

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[Joe Kernan]

Huh. That sounds easier than I thought.

[Fidelity App Promoter]

You got this?

[Joe Kernan]

Yeah, I do. Now, where did I put my keys?

[Fidelity App Promoter]

You will find them where you left them.

[Donald Trump]

Investing involves risk, including risk of loss. Fidelity Brokerage Services, llc. Member nyse, sipc.

[Cameron Costa]

Thy ticket lady Jennifer of Coolidge. Well, many thanks, good sir. Here is my Discover card. They accept Discover at Renaissance fairs? Yeah, they do here. Discover is accepted at the places I love to shop. Get it with the times, with the tines. You're playing the loot. Yeah, and it sounds pretty good, right?

[Donald Trump]

Discover is accepted at 99% of places.

[Joe Kernan]

That take credit cards nationwide, based on.

[Donald Trump]

The February 2025 Nielsen report. Well, we have a concept of a deal. I think it's going to be a very good deal for the United States, also for them. And we're going to work together on something having to do with the Arctic as a whole, but also Greenland. And it has to do with the security. Great security, Strong security and other things.

[Cameron Costa]

President Donald Trump at the World Economic Forum in Davos, Switzerland. An extended interview with our own Joe Kernan.

[Donald Trump]

Forever.

[Joe Kernan]

Forever.

[Donald Trump]

It'll be forever for Greenland at this point. Forever.

[Joe Kernan]

That's a staggering.

[Donald Trump]

That's better than a 99 year.

[Cameron Costa]

This is Greenland tariffs and of course the next Federal Reserve chair.

[Donald Trump]

They're all good. You know, all three are good. All three would be, I think, good. Well, we have a problem with the man that's there now. It's a. He's too late. He's always too late. Except when it comes to politics for the other side.

[Cameron Costa]

Plus a cap on credit card interest rates and the President's plans for Iran Sanctions.

[Joe Kernan]

Sanctions 25% for anyone who does business with Ron. And that will go forward.

[Donald Trump]

Yeah, that's going forward.

[Joe Kernan]

That will go forward.

[Cameron Costa]

I'm CNBC producer Cameron Costa. Squakpod reports from Davos 2026. President Donald Trump begins right now. World leaders, central bankers, finance, CEOs and creatives collide in Switzer this week. And the one attendee who captured international headlines this year, President Donald Trump.

[Donald Trump]

It's great to be back in beautiful Davos, Switzerland.

[Cameron Costa]

It is in fact, his second Davos appearance and thousands of other attendees lined up and waited for seats in the Congress hall for his around hour long speech. Of course, this speech was right on the heels of the President's comments this past Saturday before he left for Davos. In a social media post he said he'd impose tariffs on Denmark and seven other European countries until a deal is reached for the, quote, complete and total purchase of Greenland. So naturally, he addressed the Greenland issue in person.

[Donald Trump]

The United States alone, that can protect this giant mass of land, this giant piece of ice, develop it and improve it, and make it so that it's good for Europe and safe for Europe and good for us. And that's the reason, and I'm seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States.

[Cameron Costa]

He did say that he won't use force.

[Donald Trump]

That's probably the biggest statement I made because people thought I would use force. I don't have to use force. I don't want to use force. I won't use force.

[Cameron Costa]

Now, after this speech, the president met with NATO secretary General and subsequently posted on Truce Social that those tariffs he had threatened, they were called off. Quote, we have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic region. Not long after that, President Trump spoke with our own Joe Kernan to clarify some of his comments and to break Even more news.

[Joe Kernan]

Mr. President, it's great to see you. Thanks for the time.

[Donald Trump]

Nice seeing you, too.

[Joe Kernan]

I threw away all my questions. One question I had. We did this five years ago. I don't think you reflect too much because you're looking forward, but can you believe what's happened in the world and what's happened to you over the past five years? I just can't help but think that it's been just something to reflect. It's incredible, the five years.

[Donald Trump]

Thank you very much. It's been a great ride. We've had a lot of fun, and nothing's easy in life, but you keep at it. We have a tremendous economy going right now, and we have a country that's the hottest country anywhere in the world. And this took place over one year. We just celebrated the first year, as you know.

[Joe Kernan]

Here's how I was going to start. I was going to say it was very compelling in terms of talking about what you've done in the first year domestically, but also very compelling in the case you made about Greenland. So I was going to ask you, did you see any of your European cohorts nodding? But I guess I don't have to ask that now because of the news. It breaks very quickly. Can you go into what you just talked about with the NATO meeting?

[Donald Trump]

Well, we have a concept of a deal. I think it's going to be a very good deal for the United States, also for Them and we're going to work together on something having to do with the Arctic as a whole, but also Greenland. And it has to do with the security, Great security, strong security and other things.

[Joe Kernan]

The market, 600 points getting back a lot of some of the nervousness we had in the last couple of days. The tariffs are off. Nothing happens on February 1st.

[Donald Trump]

No, we took that off because it looks like we have pretty much the.

[Joe Kernan]

Concept of a deal, a deal of ownership, a deal.

[Donald Trump]

Well, it's a little bit complex, but we'll explain it down the line. But the secretary general of NATO and I and some other people were talking and it's the kind of a deal that I wanted to be able to make.

[Joe Kernan]

Where does Denmark, did they weigh in on what they want, what they would agree to?

[Donald Trump]

Well, I assume they did because he very much represents, he's a strong leader, Mark, you know, Mark Rutte and he, I assume he's been speaking to them. He's been speaking to all of them.

[Joe Kernan]

Are mineral rights involved? Is ownership involved? Did the golden dome sway people?

[Donald Trump]

I don't want to say yet, but.

[Joe Kernan]

The golden dome was very compelling today when you talked about.

[Donald Trump]

Yeah, yeah, the golden dome. And they're going to be involved in the golden dome and they're going to be involved in mineral rights and so are we.

[Joe Kernan]

It's not specific enough to know at this point how long this lasts.

[Donald Trump]

Forever.

[Joe Kernan]

Forever. It'll be forever for Greenland at this point.

[Donald Trump]

Forever.

[Joe Kernan]

That's a staggering.

[Donald Trump]

That's better than a 90 day.

[Joe Kernan]

This is what, two hours after.

[Donald Trump]

It's better than the Obama deal with the famous Iran nuclear deal with a nine year, with a nine year deal. Now this is forever. This is a long term.

[Joe Kernan]

I mentioned that you could have come over here and just talked about what you wanted before you left. I think you wanted to talk about the progress that you've made in terms domestically with the economy and everything else in the United States. And you didn't have to talk, I didn't think you had to talk about Greenland. But you're always moving on to the next thing.

[Donald Trump]

Well, I did in the speech I gave, I talked a lot about Greenland because we needed for security and now we're going to have even better security, I think, than I would have had before.

[Joe Kernan]

I know how you operate. I know that you didn't take force off of the table. But all along I think if there was going to be a war, it was going to be a trade war. Is that fair to say?

[Donald Trump]

I think so. I don't think I don't see us fighting with NATO.

[Joe Kernan]

NATO, you've done so much to try to strengthen NATO. I'm sure you don't want to see the dissolution of something.

[Donald Trump]

I'm proud of NATO from the standpoint, look, I brought them up from 2% to 5% of GDP. They're paying a lot of money. They pay us a lot of money because they buy missiles and they buy a lot of things. Unfortunately, Obama gave him $350 billion for Ukraine, which was just terrible. I mean, it was. The whole thing was terrible. It should have never happened. That's a war that should have never happened. But they paid a lot of money and I don't know if you know, but I signed a rare earth deal with Ukraine to probably get most of that back, maybe more, more back than we have in. But what they did, they were just giving out money like cookies to a child.

[Joe Kernan]

I know how much you've done this. I'm going to bounce from thing to thing. When we talked about geopolitical concerns today, we also mentioned Iran and I made the point that I never thought that Greenland, that geopolitical events would include an actual shooting war. Iran's a different case. It could be tariffs, which you've already announced for Iran, could be further action than what we've already seen in Iran. Most people think that you probably prevented or the loss of I don't know how many lives for some of the presidents.

[Donald Trump]

Thousands. Thousands more than that.

[Joe Kernan]

Was that the end of the story, though?

[Donald Trump]

Well, they had one thing specifically that really got me. They were going to hang, hang the old fashioned hanging. They were going to hang 837 people on Thursday. And I told them, you can't do that. If you do that, it's going to be bad. I don't want to go exactly what I said, but nasty. And they canceled it, hopefully permanently.

[Joe Kernan]

Those tariffs are still on, including China. Has China responded to this? Sanctions, sanctions, 25% for anyone who does business with Iran. And that will go forward?

[Donald Trump]

Yeah, that's going forward.

[Joe Kernan]

That will go forward. There are assets moving into the Gulf, obviously carriers and other things. So a lot of people are wondering whether that's a prelude to further action.

[Donald Trump]

Well, we hope there's not going to be further action, but you know, they're shooting people indiscriminately in the streets and they were going to look, this was a big thing for me. They were going to Hang 830, Hang 837, mostly young people.

[Joe Kernan]

When you did successfully hit Fordo, you got a lot of Grief from the Democrats for doing it. Now the grief is, oh, you promised to do something in Iran. Now they want you to do. Or they're at least finger pointing. Say you said you were going to help the protesters and now you're not, so you can't win.

[Donald Trump]

Well, we had, look, we had. Of course, Nikan, I mean, if I came up with the cure to cancer, they'd say, why didn't you do it.

[Joe Kernan]

Faster if you walked on water? Be you can't swim.

[Donald Trump]

Yeah, it's. Look, they're sick people. They really are. They are. They are. We call it Trump Derangement Syndrome.

[Joe Kernan]

Should we stay tuned in Iran? I guess that's my question.

[Donald Trump]

I guess. I mean, look, it's a rough place. It's a place that we hit very hard with the nuclear. Ending the nuclear. They would have had a nuclear weapon long ago. It's actually already. They would have had a nuclear weapon probably a month after we hit, had we not hit. And we hit them on the B2 bombers. We just ordered 25 additional B2 bombers. They were unbelievable. Those things are. They were totally undetectable. They were undetected. And think of it, with no moon, in the dark of night, late in the evening, every single one of those bombs and their giants, every single one of those bombs hit its targets and just obliterated the place. So we're going to find out where they are now about what they're going to do with nuclear. They can't do the nuclear. You know, the one thing I've been strong on, they can't do the nuclear. Now, this attack that we did at the time, which is now a little bit older than what happened in Venezuela recently, which was equally as good, but the attack in Iran, if they do it, it's going to happen again. They've got to stop with the nuclear. You know, they keep experimenting with nuclear and, you know, at some point they're going to get the. The idea that they can't do that. They're just not going to be able to do that. Can't let them have it.

[Joe Kernan]

Something else that we might find out in the near future is the replacement for Jay Powell.

[Donald Trump]

It's true.

[Joe Kernan]

I just saw Mr. Hassett, who I have a pretty good relationship with it.

[Donald Trump]

He's fantastic. I like actually keeping him where he is. They want to know the truth. I don't want to lose him. He's so good on television, on.

[Joe Kernan]

CNBC'd be a great time to give this more. Are we down to two now? Are we down to I heard Rick Reeder had a strong.

[Donald Trump]

I'd say we're down to three, but we're down to two. And I probably can tell you we're down to maybe one in my mind.

[Joe Kernan]

But Rick Reeder impressed you in recent.

[Donald Trump]

Very impressive.

[Joe Kernan]

Yeah.

[Donald Trump]

He's been there for.

[Joe Kernan]

Because for a while the betting markets had wars in the. In the.

[Donald Trump]

Rick is very good. They're all good. You know, all three are good. All three would be, I think, good. We have a problem with the man that's there now. It's a. He's too late. He's always too late, except when it comes to politics for the other side, where he was actually too early.

[Joe Kernan]

Another one person I know you have a great deal of admiration for is your treasury secretary.

[Donald Trump]

Yeah.

[Joe Kernan]

He made the point that, by the.

[Donald Trump]

Way, he only wants to stay where he is.

[Joe Kernan]

That's one thing.

[Donald Trump]

He's fantastic. But Scott only wants to stay where he is.

[Joe Kernan]

His point as a real estate guy, some people say you always want lower rates. But Scott made the point that if you have productivity gains, whether it's from AI or whether it's from big Beautiful Bill, whatever it is, that you need a Fed chairman that can't get too agitated about a hot GDP number. In other words, we might be at a point where we could run nominal GDP of 8% or, you know, after inflation, five and a half. But that doesn't mean that it's inflationary and that you need to raise rates. So have you considered someone that could be like a GreenSpan in the 90s?

[Donald Trump]

Well, that's what I want. I mean, right now, if you announce great numbers, the stock market goes down because they say, oh, they're going to raise the rate, they're going to kill it, which really stops you from having any great runs. And we want to have a great run. So we're going to be at five and a half or something. They're predicting, I don't know, it's much higher than they thought. But let's say we're at five and a half. We could be at 10 or we could be at 12, we could be at 15, but immediately when they announced good numbers. Now, in the old days, you're too young. In the old days, you think I.

[Joe Kernan]

Am, but you know.

[Donald Trump]

But 20. I know you're. You look good. Whatever you're doing, keep. But look, Joe, in the old days, when you had a good run, when you had. You'd announce good numbers and the stock market would go up. Now the stock market crashes every time you have good numbers because they think everyone's going to raise rates. And growth is not a cause, a big cause of inflation. In fact, it can go the other way. So look, we've had tremendous growth, and we have almost no inflation for the last three months. We have 1.2% inflation, and yet we've had tremendous growth.

[Joe Kernan]

Do you, at this point have plans for what you would do? And you said you won't fire Jay Powell. Let's say he decides. I'm not going to be pushed around. I don't like the way I was treated. Whatever he decides. And what if he decides to stay on the Fed? He doesn't need to leave. When he's no longer.

[Donald Trump]

We'll see how it all works out.

[Joe Kernan]

That could create a block of four people that still vote.

[Donald Trump]

It's terrible. We just, you know, in this world, we live with the cards you dealt. And if that happens, his life won't be very, very happy. I don't think by doing it. I think he wants to get out. He has not done a good job. He's done a horrible job on buildings. You know, he took a small little complex, the Federal Reserve complex. I could have redone it. I could have fixed it for 25 million bucks. It would have looked beautiful. I think he's up to almost $4 billion, the most expensive project ever built per square foot. And he's either incompetent or he's crooked, I guess. Right? But. So we'll find out. So if he stays, he stays. If he doesn't stay, he doesn't stay.

[Joe Kernan]

Do you know what would Sack think of it?

[Donald Trump]

He took. He took this job, and they're up to almost $4 billion for a little building. I'm building this massive ballroom. I'm way under budget. It's going to cost less than $400 million. Going to cost maybe 300 million for this massive project he spent. I just built, you know, recently, relatively recently, I built a Hotel, the now the Waldorf in Washington. And I spent like $250 million. It's a much bigger complex than the Federal Reserve and much more complex. So I say, how do they spend three to four billion dollars on this little thing? I could have done it for $25 million, and it would have been nicer.

[Joe Kernan]

Than what they're doing does Thom Tillis. And I know he's not going to be a senator much longer, but he probably could prevent someone from being voted on while this subpoena is still an issue. Are there just a couple of. Do you know Anything about what would be necessary for Chair Powell to answer for to where this would be withdrawn.

[Donald Trump]

So, no, I mean, I don't know about Tom Tillis, but you know, he's not going to be a senator till much longer.

[Joe Kernan]

But you figure whomever you nominate is going to have an easy whatever, I.

[Donald Trump]

Mean, whatever it is, you know, life, whatever, whatever happens.

[Joe Kernan]

Because we don't have a lot of time. I was going to needle you a little bit about Senator Elizabeth Warren and a meaning of the minds. That's something that wasn't on my, that wasn't on my plate.

[Donald Trump]

She was very happy with this phone call. I'll tell you.

[Joe Kernan]

Now, look, you won't be having a lot of policy discussions with other than.

[Donald Trump]

But credit card companies are getting 28%, 30%. These people don't know they're paying that.

[Joe Kernan]

Right.

[Donald Trump]

One year cap of 10%. And I love it. I know it's sort of like it sounds like the mayor of New York maybe came up with that. But people are paying. They can't make it. They can't pay 28. You know, whatever happened to usury? They can't pay 28%. And so I said one year. I'd like to see a one year cap of 10% with the credit card companies and they'd understand that. I've had calls from credit card companies, people that are friends of mine actually, and I treat them good, I respect them greatly. But they make a lot of money. They got to give people a break. 28% interest. You know, people go out and they buy something and if they're a little bit late, they're paying 28%. They end up filing for bankruptcy. So I would like to see that happen.

[Joe Kernan]

Yeah, so there's, I guess we're getting toward the end, but there's classic conservatism. There's populism and I guess there's common sense. Is that how you would describe some of the steps that you make? I mean, there are people that call it statism or that we're getting too involved with managing the private sector.

[Donald Trump]

I'm conservative, but I think I'm common sense. You know, it's like 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 and like men and women, sports. Okay. People think it's wonderful. I think it's a horrible thing. I think it's a ridiculous thing. Open borders for everyone so that everybody's prisoners can pour in where they come in from the Congo, where they come in from all over the world from Venezuela. And by the way, we picked up 50 million barrels of oil the other day from Venezuela. We're going to sell it at the market price. We're going to give some to Venezuela. We're going to keep some. That's going to be great. You know, we're getting along great with Venezuela. They have tremendous oil and oil reserves and other things too. And 20 years ago, Venezuela was a sort of a pretty hot country and now it's going to be maybe hot again. By the way, they'll make more money with us than they would have made in 25 years.

[Joe Kernan]

All these things that, the 10% on the credit cards, the not allowing corporations to buy single family homes, it all seems to be they were gobbling up all the homes. It's aimed at affordability.

[Donald Trump]

Well, it's also aimed at common sense again, but they were buying up all the homes. People couldn't buy homes. You know, you have these big companies, these big corporations buying up thousands of homes and renting them or doing whatever they do with them. Some of them are flipping them for a big profit. But. But it got to be too much, too many. It became, you know, it's good investment. And we're not saying take them away, but we're saying that we don't want that. We want people to be able to buy a home.

[Joe Kernan]

Been a long day for you. I know. And energetic. More energetic than I am right now. Thank you for doing.

[Donald Trump]

I'm doing just fine.

[Joe Kernan]

Thank you for the time, Mr. President. Thank you.

[Donald Trump]

Thank you very much.

[Joe Kernan]

Okay, you're welcome.

[Fidelity Announcer]

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[Fidelity App Promoter]

Saving on your education should be a right, not a competition. At University of Phoenix, you'll get the best scholarship or savings you qualify for. Simple as that. Explore scholarship options at University of Phoenix.

[Keith Lansford]

This episode is brought to you by Schwab Market Update, an original podcast from Charles Schwab. Join host Keith Lansford for this information packed daily market Preview delivered in 10 minutes or less, including projected stock updates, monetary policy decisions and key results and statistics that may impact your trading. Download the latest episode and [e-mail] Market Update podcast or find Schwab Market Update wherever you get your podcasts.

[Cameron Costa]

Thank you for listening to this special Squawk Pod Reports from Davos. This is just one of many iconic interviews at the World Economic Forum this year. I promise it's worth following Square Squawk Pod wherever you're listening now so you don't miss an episode. Squawk Box is hosted by Joe Kernan, Becky Quick and Andrew Ross Sorkin, usually from the Nasdaq market site in Times Square, and one week a year from the snowy Alps. Squawk Pod is produced by me, Cameron Costa and Zach Valise. Katie Kramer is in Davos with the anchors, and our editor Julie Tras is working her magic from the States. Have a great day.

[Fidelity App Promoter]

Saving on your education should be a right, not a competition. At University of Phoenix, you'll get the best scholarship or savings you qualify for. Simple as that. Explore scholarship options at University of Phoenix.