Davos: Von der Leyen, He, Macron and Carney to speak as Greenland crisis looms over WEF – business live | Business
Introduction: Von der Leyen, He, Macron, Carney and Bessent will speak
Good morning from Davos, where the World Economic Forum continues in the shadow of Donald Trump’s Greenland plans.
Nearly 3,000 leaders, including more than heads of state and government, are gathering in Davos under the theme of the Spirit of Dialogue, an optimistic tone given the pressures facing the old world order.
For one NATO member to covet another’s territory and threaten trade taxes if it cannot acquire it runs counter to the WEF’s identity as an advocate of a rules-based, multilateral system.
The Spirit of Dialogue will also be tested as European leaders question how to deal with a US president who likes to communicate through big tariff threats.
As we reported yesterday, Europe is now considering retaliation:
It promises to be one of the most important, tense and dramatic WEF meetings of recent years. US sends largest-ever delegation to Davos, including Treasury Secretary scott bessent – he told reporters here yesterday that it would be “very unwise” for European governments to retaliate.
As Bessent puts it:
“I think it’s a total fraud for the president to do this because of the Nobel prize. The president sees Greenland as a strategic asset for the United States.”
Greenland isn’t the only crisis casting a shadow over Davos; Iran, Ukraine, AI bubble fears and Trump’s selection of the next head of the US Federal Reserve are also on delegates’ minds.
There’s a lot going on outside the WEF convention center, too, as many businesses and governments take over shops in Davos and turn them into their own bases for the week.
So, in addition to speeches and speeches, business deals on profit will also be made here.
Trump will make a private speech in Davos on Wednesday; We will hear from you today Ursula von der LeyenPresident of the European Union, President of France Emmanuel Macronvice premier of China that lifeand Canadian prime minister Mark Carneywith the British Chancellor Rachel Reeves It also appears in a panel.
agenda
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09.30 Davos / 08.30 GMT: Conversation with Microsoft CEO Satya Nadella
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10.50 Davos / 9.50 GMT: Speech: Ursula Von der Leyen, President of the European Union
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11.20 Davos / 10.20 GMT: He Lifeng, Deputy Prime Minister of the People’s Republic of China
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14:00 Davos / 13:00 GMT: Speech: French President Emmanuel Macron
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14:30 Davos / 13:30 GMT: Conversation with Treasury Secretary Scott Bessent
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15.30 Davos/ 14.30 GMT: Meeting with Prime Minister of Qatar Sheikh Mohammed bin Abdulrahman Al Thani
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16.15 Davos / 15.15 GMT: “Prosperity: Is the Sovereign Connected Yet?” Panel discussion on Including Chancellor Rachel Reeves
important events
Finally, Bessent is asked whether he sees Europe as an ally of the United States and, if so, how much economic pain the United States is prepared to inflict on the EU.
Bessent returns to the ‘false narrative’ position, accusing the media of “going to the extreme” rather than waiting for events to play out.
Bessent: ‘False narrative’ that Europe could abandon US Treasury assets
Scott Bessent then denies that European Union countries and the United Kingdom could exercise the “nuclear option” on the Greenland crisis and sell off US Treasury bonds.
When asked how the Treasury Department and the White House will prepare for this, he said: bessent He insists it is a “completely false narrative” and claims the media is “hysterical” about the issue.
bessent He says there has been no talk about this in European governments and that this is due to a recent report by Deutsche Bank that has been ‘picked up’ by the media.
He argues that the plan to sell off US Treasuries “defies all logic”, pointing out that Treasuries are the basis of financial transactions.
Beware of tariffs: do not retaliate; sit back and let things happen
Scott Bessent then warns other countries not to retaliate against trade tariffs announced by the United States due to the Greenland crisis.
When asked about the uncertainty facing companies and why any country should strike a trade deal with the US, he said: bessent answers:
I would say this is the same hysteria we heard on April 2nd. There was a panic.
[That was the day of Trump’s initial Liberation Day tariffs]
bessent He adds:
I urge everyone here to sit back, take a deep breath, and let things happen.
The Treasury Secretary reminds us that China’s escalation last year led to 145% and 125% tariffs between the two countries before that relationship stabilized.
President Trump’s threats to Greenland are very different from other trade agreements. Therefore, I call on all countries to adhere to trade agreements.
Besss: Fed presidential statement may come next week
Question: When will President Trump announce the new Fed chairman to replace Jerome Powell?
Bessent said there were four “great candidates” and the decision was up to the president.
I predict he will make an announcement as early as next week.
bessent He then takes a look at Europe and calls it ‘the center of the great regulatory swamp’.
He points out Mario Draghi’s latest report on Europe’s competitiveness.
Bessent: Trump policies led to historic economic comeback
U.S. Treasury Secretary Scott Bessent is holding a press conference on economic issues here in Davos.
bessent It begins today, one year since Donald Trump returned to the White House declaring that “by every measure” the United States is the most powerful place in the world for capital.
bessent gushes:
President Trump has led a 12-month transformation of the US economy….
President Trump’s policies have resulted in a historic economic turnaround for both Wall Street and Main Street.
bessent It touches on gains in investment efficiency and resilient consumer demand.
He adds that while other countries at Davos face “ongoing uncertainty”, market participants are looking for a jurisdiction that offers “stability, clarity and scale”.
“The smart money is in America” bessent he claims and adds:
We invite you all to join this 250th anniversary and be part of the next 250 years.
Donald Trump claimed that Britain’s decision to cede the Chagos Islands to Mauritius was among the reasons he wanted to seize Greenland.
Karen Harrisgeneral manager Bain & Company Macro Trends Group says that a new post-globalization era has begun in the midst of the ‘Great Transformation’:
“As the World Economic Forum in Davos gets underway, what is more striking than ever given recent events is that 2025 will ultimately be remembered as the year that neoliberal globalization ended and the post-globalization era began. The world appears to be in the early stages of a new multi-year era that we call the Great Transformation, and 2025 will likely ultimately be remembered as the turning point in its acceleration.”
“Over the medium to long term, we expect these changes to be drivers of growth. But this time of change comes as the end of one of the most extravagant business cycles in modern history – the post-pandemic cycle.
“Currently, major global economies are caught in the middle of a conflict between the reasons to accelerate and the reasons to stop, like a driver with one foot on the gas and the other on the brake. The obvious question for us in 2026 is whether this year will bring a resolution to this conflict between the long-term drivers of growth and acceleration and the short-term (business cycle) drivers of stagnation.”
Reeves plans to refund some visa fees in a bid to attract ‘pioneering’ investment to the UK
Heather Stewart
Rachel Reeves will pledge to refund visa fees for some global businesses on Tuesday as she flies to the World Economic Forum in Davos, aiming to portray Britain as a haven of stability despite Donald Trump’s latest tariff threats.
The chancellor, who will be accompanied by Chancellor of the Exchequer Peter Kyle, will hold a series of meetings with business leaders at the annual meeting of the global elite at the Swiss mountain resort.
He will announce adjustments to the visa regime aimed at encouraging “leading” businesses to bring highly skilled staff to the UK (including refunding wages) and speeding up the time it takes to sponsor migrant workers.
“Some countries give you a platform, but Britain gives you the momentum. My message in Davos this week is clear: choose Britain; it is the best place in the world to invest,” the chancellor said in his pre-aired speech.
Trump: We will discuss Greenland in Davos
Yesterday, President Donald Trump said that the United States will discuss purchasing Greenland at the World Economic Forum in Davos this week.
Speaking to reporters in Florida, he claimed that Denmark could not protect the country:
“We have to do this. They have to have this done too. They can’t protect this Denmark, they are great people.”
“I know the leaders, they are very good people, but they don’t even go there.”
Trump also said in his social media post that he had a “good phone call” with NATO Secretary General Mark Rutte and agreed to hold a meeting in Davos in Greenland with the participation of “various parties”.
Introduction: Von der Leyen, He, Macron, Carney and Bessent will speak
Good morning from Davos, where the World Economic Forum continues in the shadow of Donald Trump’s Greenland plans.
Nearly 3,000 leaders, including more than heads of state and government, are gathering in Davos under the theme of the Spirit of Dialogue, an optimistic tone given the pressures facing the old world order.
For one NATO member to covet another’s territory and threaten trade taxes if it cannot acquire it runs counter to the WEF’s identity as an advocate of a rules-based, multilateral system.
The Spirit of Dialogue will also be tested as European leaders question how to deal with a US president who likes to communicate through big tariff threats.
As we reported yesterday, Europe is now considering retaliation:
It promises to be one of the most important, tense and dramatic WEF meetings of recent years. US sends largest-ever delegation to Davos, including Treasury Secretary scott bessent – he told reporters here yesterday that it would be “very unwise” for European governments to retaliate.
As Bessent puts it:
“I think it’s a total fraud for the president to do this because of the Nobel prize. The president sees Greenland as a strategic asset for the United States.”
Greenland isn’t the only crisis casting a shadow over Davos; Iran, Ukraine, AI bubble fears and Trump’s selection of the next head of the US Federal Reserve are also on delegates’ minds.
There’s a lot going on outside the WEF convention center, too, as many businesses and governments take over shops in Davos and turn them into their own bases for the week.
So, in addition to speeches and speeches, business deals on profit will also be made here.
Trump will make a private speech in Davos on Wednesday; We will hear from you today Ursula von der LeyenPresident of the European Union, President of France Emmanuel Macronvice premier of China that lifeand Canadian prime minister Mark Carneywith the British Chancellor Rachel Reeves It also appears in a panel.
Agenda
-
09.30 Davos / 08.30 GMT: Conversation with Microsoft CEO Satya Nadella
-
10.50 Davos / 9.50 GMT: Speech: Ursula Von der Leyen, President of the European Union
-
11.20 Davos / 10.20 GMT: He Lifeng, Deputy Prime Minister of the People’s Republic of China
-
14:00 Davos / 13:00 GMT: Speech: French President Emmanuel Macron
-
14:30 Davos / 13:30 GMT: Conversation with Treasury Secretary Scott Bessent
-
15.30 Davos/ 14.30 GMT: Meeting with Prime Minister of Qatar Sheikh Mohammed bin Abdulrahman Al Thani
-
16.15 Davos / 15.15 GMT: “Prosperity: Is the Sovereign Connected Yet?” Panel discussion on Including Chancellor Rachel Reeves
