DAVOS, Switzerland (AP) — U.S. President Donald Trump appeared Wednesday at the World Economic Forum in Davos, Switzerland, a day after the elite event produced contentious statements and economic threats
arising from tensions between the U.S. and Europe.
Nearly 3,000 high-level participants from 130 countries, plus an untold number of activists and observers, are expected to converge on the annual event scheduled to last through Friday for dialogue, debate and deal-making in the Alpine resort.
Trump’s third visit as president comes as U.S. allies worry about his ambition to take over Greenland, while Latin America grapples with his efforts to seize Venezuela’s oil.
European Commission President Ursula von der Leyen on Tuesday called Trump’s planned new tariffs on eight of its countries over Greenland a “mistake” and questioned Trump’s trustworthiness. French President Emmanuel Macron said the EU could retaliate by deploying one of its most powerful economic tools, known colloquially as a trade “bazooka.”
Here is the latest:
In recent weeks, Trump has repeatedly told a story about how he supposedly got Macron to close the gap on drug pricing disparities between the two countries.
This time, he did it before a European audience.
In Trump’s telling, Macron was obstinate about not wanting to hike French drug prices until Trump threatened to raise tariffs, including on French wines and champagnes. At that point, Trump said, Macron agreed
Trump mocked French President Emmanuel Macron’s sunglasses to audience’s laughter.
“I watched him yesterday with those beautiful sunglasses. What the hell happened?” Trump said to the loudest laughter so far.
The French president has worn sunglasses indoors in recent days as he’s joked about a “completely harmless” eye condition.
—
Read more about Macron
Trump says he’s meeting with Ukrainian President Volodymyr Zelenskyy on Wednesday.
The meeting was not on Trump’s publicly released calendar and it was not clear if he meant a virtual or in-person meeting.
Zelenskyy is not believed to be in Davos.
Trump asserted that Denmark promised to spend “over $200 million to strengthen Greenland’s defenses” and then insisted it has “spent less than 1% of that.”
He was referring to a 2019 commitment from the Danish government, made during Trump’s first presidency, when he first floated the idea of the U.S. taking control of the semiautonomous territory of Denmark.
Copenhagen has not disputed that the implementation of that commitment has been slow.
In recent weeks, with Trump pushing the U.S. takeover again, Denmark’s Defense Minister Troels Lund Poulsen unveiled an expanded defense plan with a $2 billion budget that includes three new ships, long-range drones and more satellite capacity.
Trump did not mention that latest commitment.
“We want a piece of ice for world protection, and they won’t give it,” Trump said in Davos speech.
“You can say yes and we will be very appreciative. Or you can say no and we will remember.”
Trump needled his northern neighbor after Canadian Prime Minister Mark Carney said Tuesday that the current phase of global diplomacy was a “rupture” and called for “middle powers” to “act together.”
Trump said Canada gets many “freebies” from the U.S. and “should be grateful.”
He said Carney’s Davos speech showed he “wasn’t so grateful.”
“Canada lives because of the United States,” Trump said. “Remember that, Mark, the next time you make your statements.”
Before the audience in Davos, Trump repeated a claim he’s said before that the Russian war on Ukraine “wouldn’t have started” if the 2020 U.S. presidential election “weren’t rigged.”
One thing is for certain: The 2020 election was not stolen. Biden earned 306 electoral votes to Trump’s 232. Trump’s allegations of massive voting fraud have been broadly refuted.
Trump, who has long been calling for prosecutions related to the 2020 election, added that “people will soon be prosecuted for what they did.” It wasn’t immediately clear what he meant.
Trump reiterated that he’s getting cooperation from Venezuelan officials following the ouster of Nicolás Maduro and predicted good times for the South American country’s economy.
“Every major oil company is coming in with us,” Trump said. ’It’s amazing.”
Earlier this month, at a White House meeting, Exxon Mobil CEO Darren Woods said the Venezuelan market is “un-investable” in its current state.
It is the first time Trump has ruled out using force, having previously been vague about how far he is willing to go in his push.
The president said the U.S. “probably won’t get anything” unless he decided to “use excessive strength and force” that he said would make the U.S. “frankly unstoppable.”
“But I won’t do that. Okay?” Trump said.
He added a minute later: “I don’t have to use force. I don’t want to use force. I won’t use force.”
Trump called for “immediate negotiations” for the U.S. to acquire Greenland from Denmark during his speech at Davos.
The president also lashed out at Denmark for being “ungrateful” for the U.S. protection of the Arctic island during World War II and continued to make his case that the U.S. needs to control the island for the sake of national security.
“This enormous unsecured island is actually part of North America,” Trump said. “That’s our territory.”
The president cited the difficulty of mining on the Arctic island.
“You got to go through hundreds of feet of ice,” he said. That’s not the reason we need it.”
Instead, he said the U.S. needs it for “strategic national security and international security.”
Windmills are “all over Europe” and are “losers” bought by “stupid people,” the U.S. president said.
He made it clear that it was European nations that were the “stupid people” buying windmills from China.
It’s part of his broad claims about energy. Trump is promoting oil and coal, traditional fossil fuels, and nuclear energy, while blasting newer, cleaner energy sources.
Calling windmills “those damn things,” he renewed his critiques that they “kill the birds” and “ruin the landscapes."
Trump mused that China owns the international windmill market but doesn’t use them within its borders.
Within 20 minutes of starting his speech, Trump had already criticized Europe several times.
He said he was European in heritage and wants to see it do well, but argued European countries are “destroying themselves.”
On windmills, immigration and trade, he tore into the continent, while many of its leaders were in his presence at the conference.
“Certain places in Europe are not even recognizable,” he said. “Here in Europe, we’ve seen the fate that the radical left tried to impose upon America.”
The president referenced a recent push by his administration to get tech companies to bid on contracts to build new power plants, so that data center operators, not regular consumers, pay for their own power needs.
“They’re building their own power plants, which when added up is more than any country anywhere in the world is doing,” Trump said.
The audience largely rewarded Trump’s one-liners with laughter.
“People are doing very well,” the U.S. president said to laughs inside the Congress Hall. They’re very happy with me.”
The overflow room also produced chuckles and giggles as attendees watched the speech on screens.
Distant protesters made their voices, though not their words, heard from the steps outside the Congress Center as Trump addressed the gathering of elites.
Their words were too faint to be discernible, but they clearly expressed angry opposition to Trump.
In the first part of his Davos speech, Trump touted America’s finances and living standards, which he said he achieved against expectations.
“Virtually all of the so-called experts predicted my plans to end this failed model would trigger a global recession and runaway inflation,” he said. “But we have proven them wrong.”
Trump said he wanted to spend the day discussing “how we have achieved this economic miracle” and suggested, as he did from the White House yesterday, that other countries in attendance could learn from his success.
Trump touted economic growth in the U.S., using many of his characteristic superlatives that exaggerate circumstances on the ground.
“The USA is the economic engine on the planet,” Trump said. “You all follow us down, and you follow us up.”
Trump credited his tariff policies, which allies have harshly criticized ahead of his arrival at Davos. The president has also repeated his false claims that he inherited record inflation and has completely eliminated it.
His economic framing is similar to how he reviewed his first year back in power in a lengthy White House press briefing Tuesday before he traveled to Europe.
The president echoed criticisms he had made of Europe in his United Nations address last year and his administration’s latest national security statements.
“I love Europe and I want to see Europe go good, but it’s not heading in the right direction,” he said.
The president opened his remarks by saying it was “great to be back in beautiful Davos Switzerland and to address so many respected business leaders, so many friends, a few enemies.”
His last line drew laughs.
Trump’s speech at Davos will coincide with arguments at the U.S. Supreme Court in Washington over the American president’s effort to oust Federal Reserve governor Lisa Cook.
It’s a politically charged case with the independence of the nation’s central bank at stake.
—
Follow live updates of the hearing here.
It’s standing room only inside Congress Hall as Davos awaits Trump’s highly anticipated speech.
Attendees can use headsets to listen to the speech in six languages besides English.
The president’s motorcade arrived at the World Economic Forum event venue after a short drive along a road lined with people and skiers.
A few of the bystanders offered less than a welcoming greeting by extending their middle fingers.
At least one person held a piece of paper with an expletive.
Davos officials invited some attendees to watch Trump’s speech on screens inside an overflow room instead of Congress Hall, but it barely seemed to lessen the crowd.
Hundreds of people, including several tech titans, sought a coveted seat inside the hall.
The press, including the White House pool, is consigned to the back of the venue.
JPMorgan’s Jamie Dimon said the United States is now “less reliable” as a global geopolitical and economic partner under Trump.
Still, the Wall Street titan was noticeably reluctant to more forcefully criticize Trump as a person or his administration, prompting pushback during an interview at Davos with Zanny Minton Beddoes, editor-in-chief of The Economist.
“I am struck, I’m genuinely struck by the unwillingness of CEOs in America to say anything critical,” said Beddoes. “There is a climate of fear in your country. Would you agree with that? And what should be done about it?”
Dimon demurred on that question as well.
“What the hell else do you want me to say?” Dimon said, noting he’s generally pushed back on Trump’s tariff and immigration policies.
The president’s helicopter touched down after a roughly 40-minute flight to the ski-resort town in the Alps.
As it descended, the convoy of presidential helicopters passed a message written into the snow on a nearby hillside that read: “Stop wars now.”
British Prime Minister Keir Starmer also said U.S. President Donald Trump’s criticism on Tuesday of the U.K.’s decision to hand sovereignty of the Chagos Islands to Mauritius was intended to pressure the British leader to change his stance on Greenland.
Previously, Trump had voiced support for the deal as a way to ensure the security of the American base on Diego Garcia, the largest island of the archipelago in the Indian Ocean.
Starmer is set to meet Danish Prime Minister Mette Frederiksen in London on Thursday.
The UK is among the eight countries threatened by Trump’s tariffs over their backing of Greenland.
Jamey Keaten, AP’s chief Switzerland correspondent, is among hundreds inside Congress Hall, waiting for Trump’s speech at the forum.
The hall’s capacity is roughly 1,000 people.
The president made a brief comment to reporters after he disembarked from Air Force One, but his words could not be heard over the noise of the aircraft.
He then waved a hand at reporters and boarded his presidential helicopter.
Dozens of people began lining up Wednesday for Trump’s highly anticipated speech at Davos.
The line built to roughly a hundred attendees seeking a seat shortly before noon inside the Congress Hall, even as Trump’s plane had only just landed in Zurich. The queue is expected to grow.
The official, who spoke on condition of anonymity to describe internal plans not yet made public, said about 50 countries had been invited to join the organization.
The official did not detail which countries were joining.
A White House official who spoke on condition of anonymity to preview the president’s plans said that Trump will also speak about his plans to have the U.S. dominate the Western Hemisphere and may also speak about his push to acquire Greenland and what’s next for Venezuela after the U.S. captured its former leader, Nicolás Maduro.
The president is scheduled to have about five separate meetings with individual foreign leaders while he’s on the trip, according to the official. The names of the leaders were not shared.
The U.S. secretary of state joked with reporters as he picked up a coffee toward the end of the flight and said he tried to get some rest at a conference table aboard the aircraft.
Marco Rubio joked that the accommodations were still nicer than the plane he travels on for State Department business.
Air Force One touched down in Zurich a little after 12:30 p.m. local time, nearly two hours after he was originally scheduled to arrive.
The president’s trip to Davos got off to a hiccup when a minor electrical issue aboard Air Force One led the crew to turn his plane around 30 minutes into the flight out of an abundance of caution. Trump changed planes in Washington.
The president instead flew on one of the other planes used as Air Force One, an aircraft that’s typically used for domestic trips to smaller airports.
Nvidia CEO Jensen Huang made his Davos debut, holding forth on the artificial intelligence boom that’s underpinned by his company’s advanced chips.
Sporting his signature black leather jacket, Huang told an audience that Europe should integrate AI with its strong industrial base to keep up with the global tech race dominated by the United States.
“This is your opportunity to now leap past the era of software. United States really led the era of software,” Huang said.
“Get in early now so that you can now fuse your industrial capability, your manufacturing capability with artificial intelligence,” he said, adding that physical AI in the form of robotics “is a once in a generation opportunity for the European nations.”
U.S. special envoy Steve Witkoff says he plans to meet with Russian President Vladimir Putin and the Ukrainian delegation.
“I’m hopeful,” Witkoff told The Associated Press about his expectations for the Putin meeting. “I’m hopeful that all meetings will go well on that subject. We need a peace.”
Trump boasted while campaigning for reelection in 2024 that he could settle Russia’s war in Ukraine in one day. Those efforts have so far proved futile, despite Trump, Witkoff and other top administration officials saying they were optimistic a peace deal could be achieved soon.
The halls of the Davos Congress Center rumbled with eager anticipation for Trump’s upcoming speech.
While many leaders and officials kept their opinions to themselves before the address, Czech Prime Minister Andrej Babis alluded to tensions between European countries and the U.S. over Greenland.
“Of course we are looking forward for the speech,” he said. “So, I hope we will find a nice solution among allies.”
Babis chuckled recalling his conversation with Finnish President Alexander Stubb, a Trump golfing buddy who is reputed to be one of his closest friends in Europe: The Finnish leader had “publicly invited Donald Trump to sauna, to relax and to speak between allies.”
Glad-handing and hugs abounded among old friends, political leaders, academics and activists. Personalities like former U.S. Vice President Al Gore, now a prominent environmental defender, also crisscrossed the maze of Davos hallways with the likes of President Karol Nawrocki of Poland and Israeli President Isaac Herzog.
Rutte, whose NATO alliance has been rattled by Trump’s threats over Greenland, waved to and hugged old acquaintances, but didn’t say whether he hoped to meet Trump.
Trade representatives from the U.S. and the European Union met on the sidelines of Davos.
Maroš Šefčovič, the EU trade representative, wrote on social media that he met with his U.S. counterpart, Jamieson Greer, in “our shared interest to avoid a downward spiral in trade, ensuring predictability for transatlantic business and investment.”
“The EU favours dialogue and solutions, in mutual respect,” Šefčovič wrote.
European Council President António Costa says Trump’s threats to annex Greenland and impose tariffs challenge Europe’s security and principles.
Costa will convene an emergency summit in Brussels with EU leaders Thursday.
Trump’s desire to acquire Greenland for what he says are security reasons has strained trust with European allies.
Costa, speaking at the EU parliament in France, emphasized that only Denmark and Greenland can decide their future. He said EU leaders are united in defending international law and are prepared to counter any coercion, and are rethinking relations with the U.S., a long-time ally.
NATO Secretary-General Mark Rutte warned on Wednesday that the allies might be losing sight of real security challenges posed by Russia in Ukraine as they argue over the future of Greenland.
Rutte said at Davos that he is “a little bit worried that we might drop the ball focusing so much on these other issues.”
Ukraine’s armed forces “need our support now, tomorrow and the day after,” notably with air defense systems and U.S. military equipment that might no longer be “available in Europe for them to defend themselves” if the Greenland dispute escalates, he said.
Rutte insisted “this focus on Ukraine should be our number one priority and then we can discuss all the issues, including Greenland. But it should be Ukraine first.”
Celebrities abound during winter in the Swiss Alps and the elite economic summit in Davos has not broken from that trend, from pop star Katy Perry watching a speech by her beau, former Canadian Prime Minister Justin Trudeau, to musician Jon Batiste on stage at the event’s opening concert.
Actor Matt Damon and musician Will.I.Am also were spotted.
Former soccer star David Beckham was in attendance in the wake of his son Brooklyn Beckham publicly acknowledging a feud with his family on social media. As he left a podcast recording Tuesday in Davos, David Beckham did not respond when asked whether he had a message for his son following the posts.
Egypt says it has accepted Trump’s invitation to join his Board of Peace and support the panel’s task in accordance with the U.N. Security Council mandate.
Prime Minister Benjamin Netanyahu of Israel also said he has agreed to join the board after his office earlier criticized the makeup of the executive committee.
The Egyptian statement came as el-Sissi is in Davos, where he is scheduled to meet with Trump. The Board of Peace is expected to be widely discussed at Davos.
Swedish Prime Minister Ulf Kristersson said his country does not regret joining NATO in 2024 despite the current upheaval.
“Absolutely not,” he said Tuesday in response to a journalist’s question on the Davos sidelines.
“We are in very good cooperation with 31 allies within NATO and we are doing great progress and we are being integrated very rapidly and we are already making big efforts also to increase NATO’s combined capacities in our part of the world,” Kristersson said.
Danish veterans feel betrayed as the U.S. escalates threats to seize Greenland, a territory of Denmark.
The Associated Press spoke to two veterans who fought alongside U.S. forces in Afghanistan and Iraq.
The veterans said they understand Arctic security concerns but believe Denmark is committed to defending the region within NATO. They fear the Trump administration’s actions could end the alliance and damage their admiration for the U.S.
There were 44 Danish soldiers killed in Afghanistan, the highest per capita death toll among coalition forces. Eight more died in Iraq.
Egyptian President Abdel-Fattah el-Sissi applauded the Lebanese government’s efforts to stabilize the tiny Mediterranean country, an apparent reference to its efforts to disarm non-state groups, notably Hezbollah.
Speaking in a panel Tuesday in Davos, the Egyptian leader said Lebanon “finds find a way to achieve complete stability.”
El-Sissi also spoke about the latest development in Syria and called for the inclusion of all Syrian groups in the political process.
Swedish Prime Minister Ulf Kristersson said he “would not speculate” on whether the NATO alliance has shattered beyond repair in the wake of Trump’s threats to take over Greenland.
Sweden joined NATO in 2024.
Kristersson, speaking to the Associated Press on the sidelines of Davos, said Europeans are willing to beef up security in Greenland and across the Arctic but “we will not accept to be blackmailed.”
World markets appear to have settled for now following a sharp drop after Trump threatened to impose extra tariffs of 10%, later rising to 25%, on imports from eight European countries.
U.S. futures advanced early Wednesday and Asian markets were mixed.
European shares opened marginally lower. But the price of gold shot up nearly 2%, surpassing its past records to trade at about $4,860 a troy ounce. Precious metals tend to gain in times of global uncertainty since they are viewed as a safe haven from risk.
Egyptian President Abdel-Fattah el-Sissi on Wednesday said the Palestinian cause is still “at the forefront of priorities” in the Middle East.
He told a panel at Davos that resolving Palestinian cause “is the core of regional stability, and a cornerstone to achieve a just and comprehensive peace.”
The Egyptian leader lauded Trump’s efforts to help reach a ceasefire that stropped the Israel-Hamas war in Gaza in October.
El-Sissi also encouraged international investment in his cash-strapped nation.
The president lauded his government’s efforts to overhaul infrastructure in Egypt, which he said was aimed at drawing private sector investments.
“The environment in Egypt is very attractive,” he said during a panel discussion at Davos.
Bessent said Trump is expected to land in Switzerland about three hours after he was originally scheduled to arrive.
Trump is scheduled to speak at Davos on Wednesday in a highly anticipated address.
The Associated Press asked Bessent about the Wall Street slump on Tuesday after Trump threatened to hit eight European countries with new tariffs as tensions escalate over his attempts to assert American control over Greenland.
The losses were widespread, with nearly every sector losing ground. Major indexes in the U.S. extended losses from last week in what has been a wobbly start to the year.
The S&P 500 fell 143.15 points, or 2.1%, to 6,796.86. It is the steepest drop for the benchmark index since October.
Bessent said he is not concerned.
U.S. Secretary Treasury Scott Bessent on Wednesday decried Europe’s “anger” and “bitterness” over Trump’s tariff threat.
Bessent urged the European Union to wait for Trump to arrive in Davos. He said he believes Europeans will be persuaded to support Trump’s concerns about Greenland once they hear his argument.
Bessent also said he is frustrated with the U.S. Federal Reserve.
The Supreme Court is hearing arguments Wednesday over Trump’s effort to oust Federal Reserve governor Lisa Cook based on allegations she committed mortgage fraud, which she denies.
No president has fired a sitting Fed governor in the agency’s 112-year history.
Trump's arrival in Switzerland has been delayed by mechancial trouble.
There was a minor electrical problem late Monday on Air Force One, the aircraft that transports the president, leading the crew to turn around the plane about 30 minutes into the flight out of an abundance of caution.
Trump boarded another aircraft, an Air Force C-32, a modified Boeing 757 normally used by the president for domestic trips to smaller airports, and continued his trip to Davos shortly after midnight.
___
AP World Economic Forum: https://apnews.com/hub/world-economic-forum
