Donald Trump is set to lead the largest US delegation ever at the World Economic Forum in Davos, as global leaders confront a rapidly unravelling world order. The president will be accompanied by top officials including Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and special envoy Steve Witkoff.
This year's meeting, themed 'A Spirit of Dialogue', takes place amid extraordinary geopolitical turmoil. Trump's recent threats to impose punitive tariffs on allies, including the UK, over their refusal to back his plan to annex Greenland have stunned European leaders. EU ambassadors held emergency talks on Sunday ahead of the forum.
A survey of over 1,300 politicians, business leaders and academics by the WEF identified 'geo-economic confrontation' as the most pressing risk for the next two years, followed by outright war between nations. Global military spending has reached $2.7tn (£2tn), an annual increase of 9.4% – the steepest rise since the end of the Cold War.
Despite the dominance of the US delegation, a fightback is underway. Central bankers have issued an unprecedented joint letter defending the independence of Federal Reserve Chair Jerome Powell. Other leaders, including Nato chief Mark Rutte, the French president, and European Commission President Ursula von der Leyen, are expected to argue for free trade, transatlantic cooperation, and continued support for Ukraine.
UN Secretary General António Guterres warned that 'when leaders run roughshod over international law... they are setting a perilous precedent'. He noted that the erosion of international law is not happening in the shadows, but in plain sight, with US behaviour bringing the post-war order closer to the brink.
