Donald Trump has said the US is "open for business and competitive once again".

Addressing world leaders at the World Economic Forum in Davos, Switzerland, the US president said: "The world is witnessing the resurgence of a strong and prosperous America."

The gathering of global elites with a free trade penchant had viewed Mr Trump with scepticism, given his "America First" message, but the White House has insisted his protectionist policies and international co-operation can go hand-in-hand.

Mr Trump outlined his work to overhaul the US tax system and slash regulations, adding: "America is the place to do business."

He also pointed out that 'America First does not mean America alone'. 

He warned trading partners that Washington would no longer tolerate unfair trade, saying predatory practices were distorting markets.

"The United States will no longer turn a blind eye to unfair trade practices," Trump told chief executives, bankers and political leaders.

"We cannot have free and open trade if some countries exploit the system at the expense of others," he added.

He said his work is beginning to pay dividends, pointing to 2.4 million jobs created since his 2016 election and noting that companies like Apple are planning to invest billions in the US.

The president added he is making progress on giving Americans the dream of a "great job, a safe home" and a "better life" for their children.