Trump tells global leaders 'America is open for business'

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LONDON (CBS) "America is open for business... and we are competitive once again," President Trump said.

The president took the stage Friday at the World Economic Forum in Davos, Switzerland, with a primary goal: to defend his administration's "America First" stance.

"I am here today to represent the interests of the American people and to affirm America's friendship and partnership in building a better world," Trump said.

Before a gathering of international business and political elites, Trump said other nations will benefit from his policies.

"America first does not mean America alone. When the United States grows, so does the world," Trump said.

The president said lower taxes and reduced regulations are driving economic growth and rebuilding the middle class.

"There has never been a better time to hire, to build, to grow or invest in the United States," he said.

But some economists say the tax cuts could reduce the values of some homes in high tax regions.

The president said all nations should prioritize the needs of their own citizens.

"I will always put America first," Trump said. "Just like the leaders of other countries should put their countries first also."

The president departed Switzerland calling the visit a success.

The last sitting president to attend the World Economic Forum was Bill Clinton in 2000.