Donald Trump is poised to deliver a significant address to the global elite, including world leaders and top business executives, at the World Economic Forum in Davos on Wednesday. This annual event in Switzerland has long been known for fostering international collaboration and dialogue.
Trump’s presence looms over the proceedings, particularly as he continues to push for the acquisition of Greenland, a vast, mineral-rich territory that is part of NATO ally Denmark. This controversial push has created ripples in diplomatic circles.
On Monday, Danish officials declared they would not participate in the conference, a decision that underscores the ongoing tension between the two nations. The situation escalated further into a diplomatic crisis over the weekend when Trump announced tariffs on eight European allies, who have resisted his aspirations regarding Greenland.
This development highlights a stark contrast between Trump’s approach and the traditional themes of the Davos forum, which has historically championed global unity and cooperation.
Commenting on the current state of the forum, Mark Blyth, a political economist at Brown University, expressed skepticism. In an interview with the New York Times, he remarked, “This is the death of Davos. It has no relevance, none whatsoever. And the bigger question is, did it ever have relevance outside the chattering classes that were embedded in the status quo to start with?”
‘This is the death of Davos,’ Mark Blyth, a political economist at Brown University, told the New York Times. ‘It has no relevance, none whatsoever. And the bigger question is, did it ever have relevance outside the chattering classes that were embedded in the status quo to start with?’
Trump arrives at the Swiss resort on Wednesday where he will deliver a keynote address ’emphasizing that the US and Europe must leave behind economic stagnation and the policies that caused it,’ a White House official said.
The president will be joined by the largest delegation ever sent by Washington, including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent.
Attendees listen to a virtual speech delivered by U.S. president Donald Trump, at the Annual Meeting of World Economic Forum in Davos, Switzerland, Thursday, January 23, 2025
Asked why Trump is attending, Blyth added: ‘He’s punching them in the head and telling them who’s in charge. He’s informing them that, basically, unless they align with him, they no longer matter.’
More than 3,000 delegates from over 130 countries will attend this year, including 64 heads of state and government. The list also includes several heads of G7 nations, with changes in American foreign policy under Trump in sharp focus.
Russian President Vladimir Putin’s special envoy Kirill Dmitriev will also travel to Davos and hold meetings with members of the US delegation, two sources with knowledge of the visit told Reuters on condition of anonymity.
Ukraine’s leader Volodymyr Zelenskyy will appear at the conference in person, hoping to meet Trump and sign new security guarantees for a potential ceasefire deal with Russia.
Meanwhile, national security advisers from a number of countries are due to meet on the sidelines of the event on Monday, with Greenland among the subjects on the agenda, diplomatic sources said.
One European diplomat, who spoke on condition of anonymity, said Greenland had been added to the agenda of the previously scheduled meeting after Trump’s tariff announcement.
The president said he was imposing a 10 percent levy starting on February 1, rising to 25 percent in June, unless there’s a deal for the ‘purchase of Greenland.’
The EU is now preparing retaliatory tariffs on $107.7 billion in US goods, or potentially denying America access to the EU market, the Financial Times reported.
Volodymyr Zelenskyy will appear at the conference in person, hoping to meet Trump and sign new security guarantees for a potential ceasefire deal
US Secretary of State Marco Rubio, special envoy Steve Witkoff and Jared Kushner
This year will also mark the debut appearance of Nvidia CEO Jensen Huang, arguably the world’s most important tech leader today
European shares fell sharply on Monday. US stock markets were closed for the Martin Luther King Day holiday.
Trump’s peace-making credentials also will be on the table. An announcement looms about his ‘Board of Peace’ for Gaza, and he and his administration are expected to have bilateral meetings in the warren of side rooms at the Congress Center.
Hungarian Prime Minister Viktor Orbán alongside Jordan, Greece, Cyprus, Pakistan, Canada, Turkey, Egypt, Paraguay, Argentina, Albania and India were all apparently invited to join the Board, with Trump saying it would ’embark on a bold new approach to resolving global conflict.’
Trump’s peace envoys Steve Witkoff and Jared Kushner are also set to attend.
Trump is expected to meet global business leaders, including CEOs in financial services, crypto and consulting, at a reception after his speech on Wednesday. The agenda is not clear.
One CEO simply had ‘a reception in honor of President Donald J Trump’ scheduled in their diary, while another said their understanding was that global CEOs had been invited, not just those from the United States. One of the sources said the invitations had come from the White House.
The forum will be without its founder, Klaus Schwab, who hosted the first event in Davos 55 years ago focusing on business, only to see it since balloon into a catchall extravaganza.
He stepped down in April. New co-chairs Larry Fink, the head of investment firm BlackRock, and Andre Hoffman, vice chair of pharmaceuticals firm Roche, are in charge.
This year will also mark the debut appearance of Nvidia CEO Jensen Huang, arguably the world’s most important tech leader today, among some 850 CEOs and chairs of global companies – along with some celebrities like Hollywood actor and safe-water advocate Matt Damon.
The future of AI, its impact on business and work, and the prospects for artificial general intelligence will be key themes.
