President Trump spoke to the Davos poohbahs today — or what’s left of them.

Think of it as “America First” vs. the last remaining globalists.

Metaphorically, Davos is really a ghost town.

The people still left there are the ones who didn’t get the memo.

That is — the Trump memo.

The smart chief executives are the Silicon Valley tech crowd, who have come over to Mr. Trump’s side. They’re the ones you saw at the inaugural swearing in ceremony. Led by Elon Musk, of course.

They got the Trump “America First” memo, and they read it carefully.

The Davos phantoms — especially the European Union and North Atlantic Treaty cabal — they believe it’s time to keep re-arming Ukraine so they can defeat Russia in this endless and stalemated war.

Thankfully, Mr. Trump has an entirely different vision.

He wants to end the war. He wants peace talks with Presidents Putin and Zelensky. He doesn’t want to spend anymore American taxpayer dollars on Ukraine.

In fact, he’s mocking the NATO countries because most of them won’t pony up 5 percent of GDP for their defense budgets.

So, Mr. Trump argues that Saudia Arabia and the Organization of Petroleum Exporting Countries should increase oil production in order to get prices down.

And, of course, his “drill, baby, drill” policy at home is also geared toward more production and lower oil prices.

Instead of $80 a barrel, $60 would be a good target.

That was roughly the average during Mr. Trump’s first term, and for much of those years oil was well below $60.

Mr. Trump correctly argues cheaper oil will damage Russia, because Mr. Putin and company have a one-horse economy — oil.

Drop it 20 bucks or more, and they’re in even bigger trouble.

And going even beyond that, lower oil prices will bring down the Bidenflation rate, which continues to plague America and Mr. Trump’s working-class constituents — who could never afford to live in the Biden economy, with 20 percent-plus inflation beating out blue collar wage rates.

And then, with lower oil driving down inflation, it’s time for interest rates to come down — in America and Europe, according to Mr. Trump’s thinking.

The President has an oil-centric view of inflation.

He’s not a monetarist, but he does make  a very important point.

Oil and all manner of petroleum products pervade the American economy, spreading into hundreds of everyday consumer and business items.

And I’ll bet it’s true in Europe as well as America.

And, finally, President Trump told the Davos Europeans that it’s time to buy American — or else they’re going to get stuck with higher tariffs.

European Union tariff rates are roughly 50 percent higher than American tariff rates. That is patently unfair trading.

By the way, Communist China’s tariffs are twice as high. India’s are almost five times as high.

And the World Trade Organization never does a thing about this.

So Mr. Trump’s speech to what may very well be the last gasp of Davos was tough — but frankly, realistic. And, most importantly, an “America First” one.

Mr. Trump’s economic logic will lead to an era of abundance — if people would just listen to him.

And if the ghosts of Davos would come back to life for just a moment — they would be imitating his economics of low taxes, deregulation, fossil fuel energy production, and yes, peace through strength.

From Mr. Kudlow’s broadcast on Fox Business Network.