US President Donald Trump flew off to Swiss Alps today on the anniversary of his inauguration. The 79-year-old leader is all set to deliver his keynote address at the World Economic Forum (WEF) 2026 which is being held in Switzerland’s Davos.
To promote dialogue and economic progress, the US President will join corporate chiefs and government leaders at the elite annual Forum and determine the fate of Greenland. This marks, Trump’s third visit to Davos as president. The high stakes meeting comes amid Trump’s ambition to take over Greenland following tariff threat which is adding pressure to the oil markets.
Declaring his intention, Trump on Tuesday said there was “no going back” on his goal to acquire Greenland from Denmark, a fellow NATO member. Trump vowed to impose fresh tariffs on European nations in case no deal for the US to gain control of Greenland was reached.
Before setting off for Davos, Trump said, “I’m going to a beautiful place in Switzerland where I’m sure I’m very happily awaited for.” He added, “This will be an interesting trip,” as he departed the White House on Tuesday evening for his flight to Davos. “I have no idea what’s going to happen, but you are well represented,” AP quoted Trump as saying.
For the first time in six years, Trump will attend WEF and deliver the keynote address, slated for 2:30 PM local time (7:00 PM IST). On the heels of the biggest rift between Washington and Europe in decades, Trump said he would have a number of meetings on the issue at Davos.
Latin America grapples with Trump’s efforts to control Venezuela’s oil
Meanwhile, Latin America grapples with the Trump administration’s efforts to seize Venezuela’s oil. On 20 January, US military forces took control of a seventh oil tanker linked with Venezuela as part of the Trump’s sweeping effort to take charge of the South American nation’s oil assets.
“I’ve been in touch with my economic counterpart in Japan, and I am sure that they will begin saying the things that will calm the market down,” Treasury Secretary Scott Bessent said in a Fox News interview from Davos over selloff in Japan’s government bonds. He further noted that the Japanese bond slide was underway before news about Greenland.
During a press conference, Bessent likened the uproar over Greenland to the “hysteria” that followed the Liberation Day tariff announcement and said, “I am confident that the leaders will not escalate, and that this will work out in a manner that ends up in a very good place.”
In the fallout of Trump’s threats to control the semi-autonomous Danish territory, AkademikerPension (Danish pension fund) on Tuesday said that it’s planning to exit US Treasuries by the end of the month.
Trump’s arrival in Davos delayed
Trump’s plane Air Force One had to take a U-turn moments after take-off and returned to Joint Base Andrews due to a “minor electrical issue.” the White House said. Press Secretary Karoline Leavitt said Trump and his entourage will switch to another plane and continue the trip out of an abundance of caution.
