By Echo Wang, Lananh Nguyen and Marwa Rashad DAVOS, Switzerland (Reuters) -U.S. President Donald Trump told business leaders gathered at the World Economic Forum in Davos, Switzerland, on Thursday that he is working to reverse inflation and illegal immigration while boosting fossil fuels production in the United States.

The new US president is delivering a virtual address, one of the first major speeches of his presidency, and will take questions from business leaders after.

U.S. President Donald Trump will speak remotely at the World Economic Forum on Thursday in Davos, Switzerland, and hold a discussion with business leaders including Bank of America CEO Brian Moynihan and Blackstone Group CEO Stephen Schwarzman.

TRUMP GOES GLOBAL — As we previewed in Playbook this morning, Trump delivered his America First agenda to dignitaries huddled in Davos for the World Economic Forum.

What world has witnessed in the past 72 hours is nothing less than a revolution of common sense,' Trump said via video conference at Davos.

The new US president is delivering a virtual address, one of the first major speeches of his presidency, at the World Economic Forum in Davos.

Despite fears that the tariffs could spark a global trade war and reignite inflation domestically, Jamie Dimon, CEO of JPMorgan Chase, said they could protect American interests and bring trading partners back to the table for better deals for the country,

Dimon's comments Wednesday come as Trump has threatened to impose a 25 percent tariff on products from Mexico and Canada by February 1 and a 10 percent tariff on Chinese imports. Earlier Wednesday, Trump also teased the notion of imposing "taxes, tariffs, and sanctions" on Russia if it doesn't end its war against Ukraine.

A speech by U.N. Secretary-General Antonio Guterres criticizing fossil fuel use and warning of the perils of artificial intelligence has headlined the agenda at the World Economic Forum’s annual event

Donald Trump on Thursday will star in an eagerly-anticipated online appearance at the World Economic Forum in Davos, addressing global elites whose annual gabfest has been consumed by the US president's days-old second term.

Canada, Mexico, China and other nations are formulating plans in response to President Trump’s proposed tariffs that could take effect Feb. 1.