Receive Breaking News updates as they occur
Chinese President Xi Jinping offered a vigorous defense of free trade at the World Economic Forum in Davos on Tuesday in a speech that underscored Beijing's desire to play a greater global role as the United States turns inward. In the first appearance by a Chinese leader at the annual meeting of political leaders, CEOs and bankers in the Swiss Alps, Xi also cautioned other countries against blindly pursuing their national interests, in an apparent reference to the "America first" policies of Donald Trump. Real estate mogul and former reality TV star Trump, who will be inaugurated as U.S. president on Friday, campaigned on a promise to confront China more aggressively on trade.
Walmart announced on Tuesday it will invest $6.8 billion in the United States and create 10,000 jobs in stores and e-commerce, a move for which President-elect Donald Trump quickly took credit. The investment in 59 new, expanded or relocated Walmart and Sam's Club stores also will create an estimated 24,000 construction jobs, the company said in a statement. "With a presence in thousands of communities and a vast supplier network, we know we play an important role in supporting and creating American jobs," said Dan Bartlett, Walmart executive vice president for corporate affairs said.