Follow the latest news on the World Economic Forum in Davos, Switzerland | Jan. 21, 202.
President Donald Trump addresses the audience during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
President Donald Trump addresses the audience during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
Edited By BRIDGET BROWN, STEFANIE DAZIO, BRIAN P. D. HANNON, SARA ABOUBAKR and CURTIS YEE
Updated 3:26 PM GMT-6, January 21, 2026
President Donald Trump said Wednesday he is dropping his threat to impose tariffs on several European countries, citing what he described as a new framework with NATO on Arctic security.
Asked how long the deal will last, Trump was clear it’s long term. “It’s a deal that’s forever,” he said. “It’s what’s called an infinite deal.”
The abrupt about-face comes shortly after he told the World Economic Forum in Davos that the U.S. would not use force to pursue control of Greenland. Trump nonetheless reaffirmed his ambition to secure “right, title and ownership” of the island and urged NATO allies not to stand in the way, warning that refusals would carry consequences for the alliance.
“This enormous unsecured island is actually part of North America,” Trump said. “That’s our territory.”
Trump also said that the U.S. is booming but Europe is “not heading in the right direction.” His ambitions to wrest control of Greenland from NATO ally Denmark threaten to tear apart relations with many of Washington’s closest allies.
Key points from Trump’s Davos speech:
Trump tried to focus on his efforts to tame inflation and spur the economy back home. But his appearance at the gathering of global elites focused more on his gripes with other countries.
He called for “immediate negotiations” for the U.S. to acquire Greenland from Denmark, lashing out at the Scandinavian country 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.
Trump claimed “without us, most of the countries don’t even work,” also taking digs at French President Emmanuel Macron over Europe for selling pharmaceuticals to the U.S. at a premium, and blasting NATO for being too dependent on the United States.
You're watching breaking news unfold in real time.
AP's network of journalists works around the clock and from nearly 100 countries to gather facts, verify information and send updates to editors who compile them into the blog you're following now.
DONATE
22 min ago
Putin says Russia has yet to decide on joining the Board of Peace
By DASHA LITVINOVA
Russian President Vladimir Putin attends a cabinet meeting via videoconference at the Kremlin, in Moscow, Russia, Wednesday, Jan. 21, 2026. (Vyacheslav Prokofyev/Sputnik, Kremlin Pool Photo via AP)
Russian President Vladimir Putin attends a cabinet meeting via videoconference at the Kremlin, in Moscow, Russia, Wednesday, Jan. 21, 2026. (Vyacheslav Prokofyev/Sputnik, Kremlin Pool Photo via AP)
Putin thanked Trump for the invitation and said Russia’s Foreign Ministry is going to study the proposal and consult with “strategic partners.”
Putin emphasized his country’s special relationship with the Palestinian people and suggested sending $1 billion to the Board of Peace from frozen Russian assets.
Trump has explained inviting Russia to the board by saying he wants all nations involved, especially those with powerful leaders.
Trump acknowledged that, “I have some controversial people. But these are people that get the job done. These are people that have tremendous influence.”
25 min ago
US stocks recover half of the prior day’s plunge after Trump calls off Greenland-related tariffs
By STAN CHOE
The U.S. stock market rebounded after Trump called off Greenland-related tariffs that he had threatened to impose on Europe.
The S&P 500 rallied 1.2% Wednesday after Trump said he reached the framework of a deal about Greenland. The index recovered about half the ground it lost a day earlier.
The Dow Jones Industrial Average also rose 1.2%, as did the Nasdaq composite. Treasury yields eased in the bond market. They also got some help from a calming of government bond yields in Japan.
32 min ago
JUST IN: US stocks recover more than half of the prior day’s plunge after Trump calls off Greenland-related tariffs on Europe
By THE ASSOCIATED PRESS
39 min ago
Putin says Trump’s bid to acquire Greenland ‘doesn’t concern us’
By DASHA LITVINOVA
Russian President Vladimir Putin late on Wednesday said Trump’s bid to acquire Greenland from Denmark “doesn’t concern us at all.”
Speaking at the Security Council meeting, Putin pointed out the United States’ past experience of acquiring land from other countries, like Russia and Denmark, and drew parallels between Greenland and Alaska, which the U.S. bought from Russia in the 19th century.
Russian President Vladimir Putin attends a cabinet meeting via videoconference at the Kremlin, in Moscow, Russia, Wednesday, Jan. 21, 2026. (Vyacheslav Prokofyev/Sputnik, Kremlin Pool Photo via AP)
Russian President Vladimir Putin attends a cabinet meeting via videoconference at the Kremlin, in Moscow, Russia, Wednesday, Jan. 21, 2026. (Vyacheslav Prokofyev/Sputnik, Kremlin Pool Photo via AP)
“If you compare this with the cost of the United States acquiring Alaska, then the price for Greenland would have been, well, somewhere around $200-250 million,” Putin suggested. “If you compare it with the price of gold at that time, this figure would have been higher, probably close to $1 billion. Well, I think that the United States can afford this figure.”
Putin said that Denmark “always treated Greenland as a colony, and treated it quite harshly, if not cruelly.”
“But it certainly doesn’t concern us. I think they’ll figure it out among themselves,” the Russian leader concluded.
48 min ago
Europe is relieved after Trump walks back tariff threat, US officials say
By MATTHEW V. LEE
Financial markets aren’t the only ones breathing a sigh of relief after Trump rescinded his threat to impose new tariffs on European allies for their defense of Greenland and Danish sovereignty.
A number of U.S. officials had also been concerned about Trump’s hardline stance and bellicose rhetoric toward Greenland, Denmark and other NATO allies because they feared it could harm other foreign policy goals.
These officials thought the fixation on Greenland and taking it at any cost was distracting from and complicating the president’s effort to form the Board of Peace, which is supposed to be announced on Thursday on Davos, Switzerland.
Many European countries, which were already skeptical of the proposed board’s broad global mandate, had reacted even more negatively to the concept after Trump’s tariff threat.
The U.S. officials spoke on condition of anonymity to discuss concerns being floated inside the administration.
2:29 p. m. GMT-6
Canada’s leader met with NATO chief ahead of Trump’s announcement
By ROB GILLIES
Canadian Prime Minister Mark Carney met Wednesday with NATO Secretary General Mark Rutte, with both agreeing on the need to speed up new investment along the alliance’s northwestern flank, Carney’s office said.
He told Rutte that Canada was already planning to quadruple defense spending over the next decade, including major investments to strengthen the country’s Arctic sovereignty.
The meeting came ahead of Rutte’s talks with Trump, who then announced they’d reached what the president called a framework agreement with NATO on Arctic security.
Carney said in a speech at Davos on Tuesday that middle-power countries need to stop pretending the rules-based order is still functioning and urged them to rally together against threats from great powers.
2:25 p. m. GMT-6
Trump says Greenland framework would meet his national security concerns
By AAMER MADHANI
“The deal is going to be put out pretty soon,” Trump said in a brief exchange with reporters on the sidelines of Davos forum. “It gets us everything we needed to get.”
2:20 p. m. GMT-6
Trump says deal will last ‘forever’ and ‘gets everything we wanted’
By ALI SWENSON
As he departed the World Economic Forum for the day, Trump said his newly agreed-upon framework of a deal with NATO’s chief is “a great deal for everybody.”
He told reporters everyone would be happy with the deal, which relates to Greenland and the Arctic. While he said people are still working out the details, he emphasized it would be “really fantastic for the U.S.A.”
President Donald Trump walks down stairs after a meeting during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
President Donald Trump walks down stairs after a meeting during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
Asked how long the deal will last, Trump was clear it’s long term.
“It’s a deal that’s forever,” he said. “It’s what’s called an infinite deal.”
2:11 p. m. GMT-6
Trump administration now offers migrants $2,600 to leave the US
By GISELA SOLOMON
The Trump administration is raising from $1,000 to $2,600 the stipend if offers migrants to leave the United States.
The Department of Homeland Security announced that beginning on Wednesday it is offering the incentive to people who arrived illegally at the U.S. and sign up for voluntarily deportation through the CBP Home mobile application. In addition, they will still receive a free flight to their home country.
DHS said tens of thousands of people have used the app to request the stipend. It is not clear how many have received the money.
The cost of a single enforced deportation is $18,245, according to DHS. The cost of a self-deportation is $5,100, including the flight.
1:54 p. m. GMT-6
Trump has backed off tariffs before
By ALI SWENSON
It’s not the first time Trump has threatened tariffs, only to later back away.
In April, after first saying he would slap massive tariffs on nations from around the world — prompting a sharp negative market reaction — Trump eased off. He bristled at suggestions he had chickened out, saying, “It’s called negotiation.”
Trump also moderated what had been aggressive posturing on Greenland on Wednesday when he said he wouldn’t take the territory by force. The U.S. stock market is steadying following those remarks.
1:42 p. m. GMT-6
Trump cancels tariff threat over Greenland and announces deal ‘framework’
By ALI SWENSON
Trump says he and NATO Secretary General Mark Rutte agreed to “the framework of a future deal” on Greenland and the Arctic region that will take his Feb. 1 threat of tariffs off the table.
The announcement on his Truth Social platform came soon after he said in a speech at the World Economic Forum in Davos that he was backing off his threat of using military force to seize the Danish territory, which he says is crucial to U.S. national security.
Trump said further discussions are being held related to Greenland and his plans for a “Golden Dome” to protect the United States from long-range missiles. He added that further information will be available as discussions continue.
1:38 p. m. GMT-6
JUST IN: Trump cancels tariff threat over Greenland, says he and NATO’s Rutte agreed to ‘framework of a future deal’ on Arctic
By THE ASSOCIATED PRESS
12:56 p. m. GMT-6
Trump declines to name a price for Greenland
By JONATHAN J. COOPER
Trump declined to name a reasonable price for the United States to buy Greenland during a meeting in Davos with the NATO secretary general.
“There’s a bigger price, and that’s the price of safety and security and national security and international security having to do with many of your countries,” Trump responded when asked by The Associated Press how he would calculate a reasonable offer for the strategic land mass. “That’s really the price. It’s a big price.”
Trump responded ambiguously when asked to elaborate on his earlier comment that “we will remember” if Denmark refuses to sell Greenland to the U.S.
“You’ll have to figure that out for yourself,” he told a reporter.
12:47 p. m. GMT-6
NATO leader says he reminds Europe about Trump’s frustrations
By MICHELLE L. PRICE
The NATO leader said he tells the organization’s members that Trump is “completely committed” but has “one irritant” that Europeans were not paying the same amount for their defense as the U.S. was.
“We solved it and this is crucial also because we need the money to protect ourselves,” Mark Rutte, secretary general of NATO, said at Davos.
12:46 p. m. GMT-6
Rutte assures Trump that NATO allies would stand with US if it’s attacked
By ALI SWENSON
President Donald Trump, right, meets with NATO Secretary General Mark Rutte during a meeting on the sidelines of the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
President Donald Trump, right, meets with NATO Secretary General Mark Rutte during a meeting on the sidelines of the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
Mark Rutte, secretary general of NATO, sought to shore up Trump’s confidence that his allies would stand with him in a crisis.
He also reminded Trump that NATO allies went to Afghanistan to fight on America’s behalf after the 9/11 attacks – and some soldiers never came home.
“You can be assured, absolutely, if ever U.S. will be under attack, your allies will be with you,” Rutte told Trump.
Trump said he appreciated the compliment and hoped it was true.
“I mean, he’s a good man, he’s never lied to me before,” Trump said of Rutte in response to a reporter’s question. “I just, you know, when I see what’s happening with Greenland, I wonder.”
12:39 p. m. GMT-6
Trump says Danes will have to tell him their Greenland stance themselves
By MEG KINNARD
After a reporter asked Trump about Danish leaders’ rejection of his comments about acquiring Greenland, the U.S. president said “I don’t like getting it secondhand.”
In a speech at Davos earlier Wednesday, Trump insisted that he wants to “get Greenland, including right, title and ownership,” but said he would not use force to do so.
A Danish government official told The Associated Press afterward that Copenhagen is ready to discuss U.S. security concerns in the Arctic. But the official, who was not authorized to comment publicly and spoke on condition of anonymity, underscored the government’s position that “red lines” — namely Denmark’s sovereignty — must be respected.
The reporter’s question came as Trump sat down for a bilateral conversation with Mark Rutte, secretary general of NATO.
12:18 p. m. GMT-6
Azerbaijan’s president calls Trump ‘a person who you can trust’
By JAMEY KEATEN
President Ilham Aliyev of Azerbaijan hailed an “excellent speech” and recalled how he has credited Trump for helping Azerbaijan to find peace with Armenia, its neighbor in the Caucasus.
He also said Azerbaijan will be part of Trump’s Board of Peace, “because we think that President Trump is a person who you can trust, and we are trusting him, and we will be part of the Board of Peace.”
Asked about Trump’s prospects of helping wrest peace in Ukraine, Aliyev said: “He fixed our case, but unfortunately, still he has to work on that.”
12:12 p. m. GMT-6
In Davos, Trump tells executives he’s made them much richer
By JONATHAN J. COOPER
President Donald Trump arrives to address a meeting of Global Business Leaders at the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
President Donald Trump arrives to address a meeting of Global Business Leaders at the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
Trump told a room of business executives they’ve gotten a lot richer during his first year back in office.
The president spoke to a wealthy audience at the Davos economic forum in Switzerland as Republicans back home press him to focus on affordability, a top concern for Americans getting squeezed by higher prices ahead of the midterm elections.
“I don’t even ask anybody how you’re doing now,” Trump said of his conversations with business executives. “It’s like everybody is making so much money.”
Even his enemies are doing well, he added.
“A couple of people in the room, I can’t stand them. And they’ve become very rich. There’s nothing I can do about it,” Trump said to laughs.
12:08 p. m. GMT-6
Sweden’s deputy PM calls for Europe to ‘toughen up’ against Trump
By DAVID KEYTON
Ebba Busch, the deputy prime minister of Sweden, said she heard “a mix of irrational and rational arguments at the same time” from Trump.
“Europe needs to toughen up. We need to hold the line,” she told reporters in Davos. “We will not be bullied or blackmailed to letting go of territory that is, in this case, Greenland’s and Denmark’s.”
11:58 a. m. GMT-6
US House speaker won’t block Trump’s tariff threats over Greenland, which Democrats call ‘dumb’
By LISA MASCARO
Republican House Speaker Mike Johnson said Trump’s tariffs policies have been working, bringing trillions of dollars into the U.S. during the president’s first year.
“I have no intention of getting in the way of President Trump and his administration, and how they’ve been using this very effectively,” Johnson said at the Capitol.
But a top Democrat, Rep. Ted Lieu of California, said the costs of tariffs are being passed on to American households.
“This is how ludicrous Donald Trump’s idea is,” Lieu said at a press Capitol conference. “He’s saying ‘If I don’t get my way on Greenland, I’m going to punish the American people even more.’”
“How dumb is that?” Lieu said. “We’re asking the president: Focus on America, not on Venezuela or Greenland.”
11:50 a. m. GMT-6
Republican Sen. Graham says Trump has convinced him to support buying Greenland
By JAMEY KEATEN
U.S. Sen. Lindsay Graham, a Republican from South Carolina, said Trump made a strong case Wednesday for acquiring Greenland legally.
“Taking Greenland by force is off the table, it was never a good idea,” Graham said, adding, “He’s convinced me.”
He emphasized that any deal involving Greenland must be approved by the Senate, which would not support using force.
Graham expressed his willingness to support a legal purchase of Greenland and said he aims to be “Trump’s biggest champion” in bringing Greenland under American control, which he argued would be for the benefit of NATO.
11:30 a. m. GMT-6
Denmark is ready for more talks with US on Arctic security, Danish official says
By AAMER MADHANI
Following Trump explicitly saying in his Davos remarks that he wasn’t considering military action to take Greenland, a Danish government official said Copenhagen remains ready to discuss how to go about addressing U.S. security concerns in the Arctic.
But the official, who was not authorized to comment publicly and spoke on condition of anonymity, underscored the government’s position that “red lines” — namely Denmark’s sovereignty — must be respected.
11:24 a. m. GMT-6
France’s Macron cries ‘fake news!’ over Trump prescription drug claims
By JOHN LEICESTER
French President Emmanuel Macron speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
French President Emmanuel Macron speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
President Emmanuel Macron’s office is disputing Trump’s assertion in Davos that he successfully pressured the French leader to increase prescription drug prices.
“It’s being claimed that President @EmmanuelMacron increased the price of medicines. He does not set their prices. They are regulated by the social security system and have, in fact, remained stable,” Macron’s office said in a post on X. “Anyone who has set foot in a French pharmacy knows this.”
It included a GIF of Trump speaking overlaid with the words, “FAKE NEWS!”
11:17 a. m. GMT-6
Trump says some countries’ legislative bodies will need to approve joining his Board of Peace
By MICHELLE L. PRICE
The president said while in a meeting with Egyptian President Abdel-Fattah el-Sissi that there will be “a lot” of countries represented on his Board of Peace.
“Some need parliamentary approval but for the most part, everybody wants to be on,” he said.
11:02 a. m. GMT-6
California Gov. Newsom calls Trump’s speech ‘remarkably boring’
By JAMEY KEATEN
Gavin Newsom, Governor of California, talks to the media after the speech of President Donald Trump during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
Gavin Newsom, Governor of California, talks to the media after the speech of President Donald Trump during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
“And there was boorish parts of it, but those were not even that consequential, including name-checking people he likes and people he didn’t like,” Gov. Gavin Newsom said. “Honestly, I was just a little disappointed.”
The Democratic governor, a frequent critic of Trump who’s eying a 2028 presidential run, has made himself available repeatedly to media this week in Davos.
“For a European audience, that may have been a new speech. My God, there wasn’t anything new about that speech for the American audience,” he said.
Referring to Trump’s comment that he won’t use military force to wrest Greenland for the United States: “I don’t think military force was ever real.”
10:53 a. m. GMT-6
White House AI czar says child safety is a priority but warns against overregulation
By MATT O’BRIEN
Trump’s top adviser on artificial intelligence, David Sacks, told a Davos crowd that “child safety has to be part of a larger regulatory framework” for AI but he warned against overregulating the technology.
Sacks acknowledged “horror stories” of AI chatbots that he says contributed to children harming themselves. But he also said billions of people, including many teenagers, are using AI without problems and it is “less addictive, more a utility,” when compared to social media.
“There’s been a little bit of a transference of the concerns that people have about social media onto AI and some of that transference is justified and some of it may not be,” Sacks said in a conversation with Salesforce CEO Marc Benioff.
Sacks called efforts across the 50 U.S. state governments to regulate AI a “little bit of a knee-jerk reaction” and one of the “great threats to innovation in the United States right now.”
10:52 a. m. GMT-6
Business tycoons wait outside Trump’s CEO reception
By JOSH BOAK
The CEOs of Visa, Cisco, Salesforce, JPMorgan Chase and Amazon are among the high-profile figures gathering outside Trump’s upcoming Davos event with global business leaders.
Sports will also be represented there, with Baltimore Orioles owner David Rubenstein and FIFA president Gianni Infantino spotted among the expanding group.
10:51 a. m. GMT-6
Sudan urgently needs more aid, humanitarian groups tell Davos
By FATMA KHALED
While the spotlight is on Trump, some of the world’s most pressing issues are also being debated at Davos, including the war in Sudan, now approaching its third year.
During a panel discussion Wednesday, humanitarian groups pushed for stronger international engagement to end the fighting as well as more aid to civilians.
International Rescue Committee President and CEO David Miliband called the crisis in Sudan an “avatar for the world disorder.” He said the conflict has been internationalized — several outside powers reportedly arm and finance the warring sides — and said civilian deaths outnumber fighters killed.
Hanin Ahmed, head of the local aid initiative Emergency Response Rooms of Sudan, said the humanitarian situation is deteriorating across the country, including in areas not controlled by the Rapid Support Forces, citing food insecurity, lack of income due to prolonged job losses, and disease outbreaks.
10:19 a. m. GMT-6
Wall Street rises after Trump says he won’t use force to take Greenland
By CHAN HO-HIM, MATT OTT
Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange, as a television shows President Donald Trump speaking at the World Economic Forum, Wednesday, Jan. 21, 2026. (AP Photo/Richard Drew)
Specialist Meric Greenbaum works at his post on the floor of the New York Stock Exchange, as a television shows President Donald Trump speaking at the World Economic Forum, Wednesday, Jan. 21, 2026. (AP Photo/Richard Drew)
The U.S. stock market is bouncing back from its worst day since October, although some signs of fear remain on Wall Street about Trump’s desire to take Greenland.
The S&P 500 climbed 0.7% on Wednesday after Trump said in his speech that he would not use force to take “the piece of ice.” The potential de-escalation in rhetoric around Greenland helped the index recover some of its 2.1% drop from the day before and pull closer to its all-time high set earlier this month.
The Dow Jones Industrial Average was up 353 points, or 0.7%, as of 10:15 a.m. Eastern time, and the Nasdaq composite was 0.7% higher.
Treasury yields also held steadier in the bond market, a day after jumping in a potential signal of worries about higher inflation in the long term. They got help from a calming of government bond yields in Japan. The value of the U.S. dollar was also mixed against the euro, Swiss franc and other currencies after sliding the day before.
But some nerves seemed to remain in the market, and the price of gold rose another 2.1% and topped $4,800 per ounce for the first time.
▶ Read more about Wall Street’s reaction to Trump’s speech
10:11 a. m. GMT-6
After meeting Swiss president, Trump will meet with leaders of Poland, Belgium and Egypt
By MICHELLE L. PRICE
White House press secretary Karoline Leavitt said after those individual meetings, which was expected to occur behind closed doors, the president will address business leaders. He will then meet with NATO Secretary General Mark Rutte.
10:10 a. m. GMT-6
Denmark’s foreign minister is guarded on Trump speech
By GEIR MOULSON
Danish Foreign Minister Lars Løkke Rasmussen was in a meeting on Ukraine and didn’t hear Trump’s speech, but says he has been briefed on it.
He said in Copenhagen that it’s clear Trump’s intentions toward Greenland remain “intact,” Danish public broadcaster DR reported.
Of Trump’s statement that he won’t use force to acquire the island, Løkke Rasmussen said: “That is positive in isolation, but it doesn’t make the problem go away.”
9:56 a. m. GMT-6
Trump meets Swiss president and says he’ll talk with Ukraine’s Zelenskyy later this week
By MICHELLE L. PRICE, VOLODYMR YURCHUK
Trump told Swiss President Guy Parmelin that his country was “great” and “beautiful.”
“You do make great watches, too,” he said during a brief part of the meeting that was open to the media.
Trump also clarified that he’s meeting with Ukrainian President Volodymyr Zelenskyy on Thursday, not Wednesday, as he said during his address.
Zelenskyy was in Kyiv on Wednesday, his communications adviser Dmytro Lytvyn said.
9:43 a. m. GMT-6
Fact Focus: One year of Trump 2.0
By MELISSA GOLDIN
Trump returned to the White House a year ago. He marked Tuesday’s anniversary by presiding over a meandering, nearly two-hour-long press briefing to recount his accomplishments, repeating many false claims he made throughout 2025.
▶ Read the AP’s latest Fact Focus
9:17 a. m. GMT-6
Trump’s chat with World Economic Forum CEO wraps
By MICHELLE L. PRICE
The president did not make any major news in the discussion, which lasted about 20 minutes. Trump then left the stage.
9:15 a. m. GMT-6
Trump repeats campaign promises that US can grow its way out of debt problems
By BILL BARROW
Asked about U.S. debt climbing toward $40 trillion — more than the size of the annual U.S. economy — Trump insisted that he can solve the problem with economic growth and eliminating fraud and excessive spending.
“I think we’re going to be paying off debt,” he boasted.
Trump made similar promises when he first ran for president in 2016 and again in 2024. He has added more to U.S. debt totals than any president.
He repeated claims about fraud in Minnesota, mentioning the figure $19 billion — a miniscule fraction of annual federal spending that is measured in trillions. Trump also said the U.S. is cutting spending, although he has exaggerated the effects of his government efficiency efforts.
9:14 a. m. GMT-6
Trump said earlier this month that banks need to cap their credit card rates at 10%
By KEN SWEET
He gave them until Jan. 20 to comply with his demand.
It was unclear how Trump could unilaterally cap credit card interest rates. White House Press Secretary Karoline Leavitt said previously that the president has “an expectation” that credit card companies will accede to his demand that they cap interest rates on credit cards at 10%.
There are a handful of bills introduced by Republicans and Democrats to cap credit card interest rates, but House Speaker Mike Johnson has been cold to the idea.
Banks are highly resistant to the idea of capping credit card rates. In an interview at Davos, JPMorgan’s Jamie Dimon said “it would be a disaster to the U.S. economy” to cap credit card rates, saying banks would close millions of credit card accounts in response.
9:12 a. m. GMT-6
Trump said he will ask Congress to cap credit card interest rates at 10% for one year
By KEN SWEET
It’s the first time he’s asked Congress to act on an issue that he demanded banks comply with only a couple weeks ago.
“Whatever happened to usury?” Trump said in his speech at the World Economic Forum in Davos, Switzerland.
Usury refers to the biblical prohibition to charge unreasonable interest on loans, and many states and countries had usury laws on the books up until the first half of the 20th Century.
9:11 a. m. GMT-6
Trump suggests a shared ‘culture’ between US and Europe
By ALI SWENSON
President Donald Trump addresses the audience during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
President Donald Trump addresses the audience during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
Leaving vague exactly what kind of “culture” that he meant, Trump said the West has prospered because of a shared and “very special” one.
“This is the precious inheritance that America and Europe have in common,” Trump said. “We share it. But we have to keep it strong.”
Trump added that he wanted to “defend that culture” and “rediscover the spirit that lifted the West from the depths of the dark ages to the pinnacle of human achievement.”
Many Americans descend from Europeans, including settlers who came to the North American continent hundreds of years ago. But the Trump administration also has faced criticism at times for focusing on that side of U.S. culture when the country’s population is far more diverse.
9:06 a. m. GMT-6
Crowd groans as Trump derides the intellect of Somali immigrants
By AAMER MADHANI
“But equally importantly, we’re cracking down on more than $19 billion in fraud that was stolen by Somalian bandits,” Trump said, referring to ongoing fraud investigations in Minnesota that have focused on members of the diaspora. “Can you believe that — Somalia? They turned out to be higher IQ than we thought.”
It’s not the first time Trump has gone after the community in racist terms.
Last month, Trump said he did not want Somali immigrants in the U.S., saying residents of the war-ravaged eastern African country are too reliant on the U.S. social safety net and add little to the United States.
Somalis have been coming to Minnesota and other states, often as refugees, since the 1990s. The president made no distinction between citizens and noncitizens.
8:58 a. m. GMT-6
Trump wraps up his remarks after more than 70 minutes
By MICHELLE L. PRICE
The president finished his speech by congratulating the people in the room for all their successes and declared that the U.S. is “back, bigger, stronger, better than ever before.”
“I’ll see you around,” he said.
He then sat down on a chair on stage for a question-and-answer session with World Economic Forum CEO Borge Brende, who was seated throughout Trump’s remarks.
8:54 a. m. GMT-6
Trump claims ‘without us, most of the countries don’t even work’
By AAMER MADHANI
He’s taken digs at French President Emmanuel Macron over Europe for selling pharmaceuticals to the U.S. at a premium. He ripped Denmark for a lack of appreciation for the U.S. protection of Greenland during World War II. And he’s blasted NATO for being too dependent on the United States.
“The United States is keeping the whole world afloat,” he said.
8:51 a. m. GMT-6
A tale about Swiss watches
By ALI SWENSON
While speaking in Switzerland, Trump told a story about the country that he said “rubbed me the wrong way.”
He said Switzerland makes beautiful Rolex watches, but “were paying nothing to the United States” to export them. So, he set a tariff, which he said caused representatives from the country and the company to call and visit him and urge him to reverse it.
He brought down the tariff, but said he felt the country was “taking advantage” of the U.S.
“A majority of the money they make is because of us, because we never charge them anything,” he said.
8:49 a. m. GMT-6
Nearly an hour in, Trump talks housing and pans some affordability policies
By BILL BARROW
Talking about the U.S. market, Trump threw a curveball, saying essentially that he didn’t want to simply expand housing supply because it could lower values for people who already own homes.
“If I want to really crush the housing market, I could do that so fast,” he said. But, “I don’t want to do anything to hurt” people who have built wealth through their home equity.
“I don’t want to do anything to hurt” existing homeowners, Trump said. He instead emphasized his desire to see lower interest rates, though that is a policy that, over time, would drive home prices up because it fuels demand.
8:42 a. m. GMT-6
Trump tells a favorite story about Macron
By ALI SWENSON
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
8:36 a. m. GMT-6
Trump mocks Macron’s sunglasses
By JAMEY KEATEN
French President Emmanuel Macron touches his brow during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
French President Emmanuel Macron touches his brow during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
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
8:35 a. m. GMT-6
Trump says he will meet Ukrainian president
By MICHELLE L. PRICE
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.
8:30 a. m. GMT-6
Greenland is the object of Trump’s desire, but he keeps calling it Iceland
By MICHELLE L. PRICE
The Danish navy's inspection ship HDMS Vaedderen sails off Nuuk, Greenland, on Sunday, Jan. 18, 2026. (Mads Claus Rasmussen/Ritzau Scanpix via AP)
The Danish navy’s inspection ship HDMS Vaedderen sails off Nuuk, Greenland, on Sunday, Jan. 18, 2026. (Mads Claus Rasmussen/Ritzau Scanpix via AP)
At least four times in his remarks at Davos so far, Trump has referred to Greenland as “Iceland.”
“They’re not there for us on Iceland that I can tell you,” Trump said of NATO partners. “I mean, our stock market took the first dip yesterday because of Iceland, so Iceland’s already cost us a lot of money.”
He also did that a day earlier during a marathon news conference at the White House.
8:29 a. m. GMT-6
Trump calls Greenland a strategic piece of ice that US must take
By AAMER MADHANI
“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.”
An Aurora Borealis is seen in the sky above Nuuk, Greenland, on Tuesday, Jan. 20, 2026. (AP Photo/Evgeniy Maloletka)
An Aurora Borealis is seen in the sky above Nuuk, Greenland, on Tuesday, Jan. 20, 2026. (AP Photo/Evgeniy Maloletka)
8:28 a. m. GMT-6
Trump blasts Denmark for insufficient military spending on Greenland
By BILL BARROW
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.
8:24 a. m. GMT-6
Trump taunts Canada
By ALI SWENSON
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.”
8:22 a. m. GMT-6
Once again, Trump falsely insists the 2020 election was ‘rigged’
By ALI SWENSON, MELISSA GOLDIN
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.
8:20 a. m. GMT-6
Trump says Venezuelan oil industry will do ‘fantastically well’ with US help
By AAMER MADHANI
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.
8:17 a. m. GMT-6
Trump says he won’t use force to acquire Greenland
By MICHELLE L. PRICE
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.”
President Donald Trump speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
President Donald Trump speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
8:15 a. m. GMT-6
Trump lashes out at Denmark over Greenland
By AAMER MADHANI
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.”
People march during a pro- Greenlanders demonstration, in Copenhagen, Denmark, Saturday, Jan. 17, 2026. (Emil Helms/Ritzau Scanpix via AP)
People march during a pro- Greenlanders demonstration, in Copenhagen, Denmark, Saturday, Jan. 17, 2026. (Emil Helms/Ritzau Scanpix via AP)
8:10 a. m. GMT-6
Trump says Greenland push is not about the need to secure sought-after rare earth elements
By MICHELLE L. PRICE
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.”
8:08 a. m. GMT-6
Trump blasts wind energy, criticizing China and Europe in one swipe
By BILL BARROW
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.
8:05 a. m. GMT-6
Trump goes after Europe
By ALI SWENSON
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.”
8:03 a. m. GMT-6
Trump touts efforts to address power supplies that AI data centers use
By MICHELLE L. PRICE
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.
8:01 a. m. GMT-6
Audience laughs in response to Trump’s one-liners
By JAMEY KEATEN, KOSTYA MANENKOV
President Donald Trump speaks during the 56th annual meeting of the World Economic Forum, WEF, in Davos, Switzerland, Wednesday, Jan. 21, 2026. (Laurent Gillieron/Keystone via AP)
President Donald Trump speaks during the 56th annual meeting of the World Economic Forum, Jan. 21, 2026. (Laurent Gillieron/Keystone via AP)
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.
7:57 a. m. GMT-6
Distant echo of protesters heard in Davos
By DAVID KEYTON
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.
7:55 a. m. GMT-6
Trump defiant about his results at the one-year mark
By ALI SWENSON
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.
7:52 a. m. GMT-6
Trump brags on U.S. economy
By BILL BARROW
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.
7:46 a. m. GMT-6
Trump says Europe is heading in the wrong direction
By MICHELLE L. PRICE
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.
7:42 a. m. GMT-6
Trump begins addressing World Economic Forum
By MICHELLE L. PRICE
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.
President Donald Trump speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
President Donald Trump speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
7:42 a. m. GMT-6
Trump speech to coincide with Federal Reserve case in U.S. Supreme Court
By THE ASSOCIATED PRESS
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
7:29 a. m. GMT-6
Standing room only inside Congress Hall
By JAMEY KEATEN
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.
7:25 a. m. GMT-6
Trump’s motorcade arrives at Davos Congress Center
By MICHELLE L. PRICE
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.
7:14 a. m. GMT-6
Overflow room available at Davos to watch Trump’s address
By JAMEY KEATEN, KOSTYA MANENKOV
Davos attendees wait to watch President Donald Trump's speech on screens inside an overflow room. (AP Photo/Kostya Manenkov)
Davos attendees wait to watch President Donald Trump’s speech on screens inside an overflow room. (AP Photo/Kostya Manenkov)
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.
7:09 a. m. GMT-6
JPMorgan CEO reluctant to forcefully criticize Trump at Davos
By KEN SWEET
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.
7:04 a. m. GMT-6
Trump arrives in Davos
By MICHELLE L. PRICE
Marine One, carrying President Donald Trump, is escorted by military helicopter during his transfer to Davos after arriving at the airport in Zurich, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
Marine One, carrying President Donald Trump, is escorted by military helicopter during his transfer to Davos after arriving at the airport in Zurich, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Evan Vucci)
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.”
7:02 a. m. GMT-6
Business leaders seek seats at Trump’s speech
By JAMEY KEATEN
Billionaires and business leaders are among those seeking a seat for Trump’s speech at Davos.
Michael Dell, founder of the eponymous Dell Technologies, weaved through the crowd to get toward the front of the line inside Congress Hall.
Marc Benioff, the Salesforce chief and a World Economic Forum board member, wiggled his way through the press line to get inside the hall.
Jim Hagemann Snabe, former co-CEO of SAP AG, as well as SAP chairman Pekka Ala-Pietilä and Hans Grundberg, the UN’s Special Envoy for Yemen, were also vying to hear the U.S. leader’s address firsthand.
6:43 a. m. GMT-6
Starmer says Britain ‘will not yield’ to Trump’s tariff threats over Greenland
By PAN PYLAS
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.
6:38 a. m. GMT-6
The AP is inside Congress Hall
By THE ASSOCIATED PRESS
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.
Jamey Keaten, AP’s chief Switzerland correspondent, is among hundreds inside Congress Hall. Everyone is waiting for Trump’s speech at the forum. The hall’s capacity is roughly 1,000 people.
6:13 a. m. GMT-6
Trump boards helicopter to travel to Davos
By MICHELLE L. PRICE
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.
President Donald Trump steps off Air Force One after arriving at Zurich International Airport for the World Economic Forum, Wednesday, Jan. 21, 2026, in Zurich, Switzerland. (AP Photo/Evan Vucci)
President Donald Trump steps off Air Force One after arriving at Zurich International Airport for the World Economic Forum, Wednesday, Jan. 21, 2026, in Zurich, Switzerland. (AP Photo/Evan Vucci)
6:02 a. m. GMT-6
Scores gather ahead of Trump’s speech at Davos
By KOSTYA MANENKOV
Dozens of people began lining up Wednesday for Trump’s highly anticipated speech at Davos.
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.
6:01 a. m. GMT-6
White House official says about 30 countries are expected to join Trump’s Board of Peace
By MICHELLE L. PRICE
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.
5:58 a. m. GMT-6
Trump’s Davos address on Wednesday will focus on America First
By MICHELLE L. PRICE
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.
5:51 a. m. GMT-6
Rubio says he slept at a table on Air Force One
By MICHELLE L. PRICE
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.
5:46 a. m. GMT-6
Trump arrives in Zurich after a delay caused by switching aircraft
By MICHELLE L. PRICE
Air Force One with Donald Trump has landed at the airport in Zurich, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Arnd Wiegmann))
Air Force One with Donald Trump has landed at the airport in Zurich, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Arnd Wiegmann))
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.
5:40 a. m. GMT-6
JUST IN: Trump lands in Switzerland with a delay after a minor electrical issue forced a return to Washington to switch planes
By The Associated Press
5:40 a. m. GMT-6
Nvidia chief executive makes his Davos debut
By KELVIN CHAN
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.”
Nvidia founder and CEO Jensen Huang speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
Nvidia founder and CEO Jensen Huang speaks during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. (AP Photo/Markus Schreiber)
5:23 a. m. GMT-6
US envoy says he will discuss Russia-Ukraine war with Putin
By KOSTYA MANENKOV
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.
5:21 a. m. GMT-6
The AP goes inside the Davos Congress Center
By JAMEY KEATEN
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.
5:09 a. m. GMT-6
US and EU trade reps meet
By SAM McNEIL
Trade representatives from the U.S. and the European Union met Wednesday 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.
4:59 a. m. GMT-6
EU chief says Trump’s threats challenge Europe’s security and prosperity
By LORNE COOK
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.
▶ Read more about Costa’s comments
4:57 a. m. GMT-6
NATO leader says Ukraine should be security priority
By LORNE COOK
Mark Rutte, left, Secretary-General, North Atlantic Treaty Organization (NATO), Karol Nawrocki, center, President of Poland, and Alexander Stubb, right, President of Finland, speak during a panel discussion during the 56th annual meeting of the World Economic Forum, in Davos, Switzerland, Wednesday, Jan. 21, 2026. (Gian Ehrenzeller/Keystone via AP)
Mark Rutte, left, Secretary-General, North Atlantic Treaty Organization (NATO), Karol Nawrocki, center, President of Poland, and Alexander Stubb, right, President of Finland, speak during a panel discussion during the 56th annual meeting of the World Economic Forum, in Davos, Switzerland, Wednesday, Jan. 21, 2026. (Gian Ehrenzeller/Keystone via AP)
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.”
4:53 a. m. GMT-6
Celebrities spotted in Davos
By STEFANIE DAZIO, BRIAN P. D. HANNON
A woman makes a selfie with her phone with American actor Matt Damon during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
A woman makes a selfie with her phone with American actor Matt Damon during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
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.
▶ Watch this video of Beckham in Davos
4:25 a. m. GMT-6
Egypt and Israel say they will join Trump’s Board of Peace
By SAMY MAGDY
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.
▶ Read more about the Board of Peace
4:02 a. m. GMT-6
Sweden does not regret joining NATO, PM says
By DAVID KEYTON
Kristersson said Sweden 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.
3:35 a. m. GMT-6
Danish veterans of US wars feel betrayed by Trump’s threats
By ANDERS KONGSHAUG
The 70-year-old carpenter said he decided to hold three flags - Denmark, the Faroe Islands and Greenland - to send a message that “we stand behind that and stand together with those who stand behind us, like the European Union and NATO, every free country in the world.” (AP Video by Kwiyeon Ha)
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.
▶ Read more about the Danish veterans
3:28 a. m. GMT-6
Egyptian president applauds progress in Lebanon
By SAMY MAGDY
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.
3:24 a. m. GMT-6
Swedish PM says NATO won’t be blackmailed over Greenland
By DAVID KEYTON
FILE - Sweden's Prime Minister Ulf Kristersson arrives for the EU Summit in Brussels, Thursday, Dec. 18, 2025. (AP Photo/Geert Vanden Wijngaert)
FILE - Sweden’s Prime Minister Ulf Kristersson arrives for the EU Summit in Brussels, Thursday, Dec. 18, 2025. (AP Photo/Geert Vanden Wijngaert)
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.”
3:20 a. m. GMT-6
World markets appear to settle after drop from Trump tariff threats
By ELAINE KURTENBACH
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.
3:05 a. m. GMT-6
Egyptian president urges international investment in Egypt
By The Associated Press
Egyptian President Abdel-Fattah el-Sissi speaks during a joint news conference, in Athens, on Wednesday, May 7, 2025. (AP Photo/Petros Giannakouris,File)
Egyptian President Abdel-Fattah el-Sissi speaks during a joint news conference, in Athens, on Wednesday, May 7, 2025. (AP Photo/Petros Giannakouris,File)
El-Sissi 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.
2:55 a. m. GMT-6
Egyptian president says Palestinian cause remains priority
By SAMY MAGDY
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.
2:29 a. m. GMT-6
WATCH: What to expect from the second day of Davos
By DAVID KEYTON
AP’s News Director for Northern Europe, David Keyton, gives an update from Davos on the forum’s second day.
1:31 a. m. GMT-6
Bessent says Trump is expected to land about 3 hours late
By JAMEY KEATEN
Bessent says 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.
1:30 a. m. GMT-6
The AP asks Bessent about Wall Street’s slump
By JAMEY KEATEN
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.
1:19 a. m. GMT-6
Bessent says he is frustrated with the Fed
By JAMEY KEATEN
Bessent says 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.
FILE - Federal Reserve Chairman Jerome Powell, left, talks with Board of Governors member Lisa Cook, right, during an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington. (AP Photo/Mark Schiefelbein)
FILE - Federal Reserve Chairman Jerome Powell, left, talks with Board of Governors member Lisa Cook, right, during an open meeting of the Board of Governors at the Federal Reserve, June 25, 2025, in Washington. (AP Photo/Mark Schiefelbein)
No president has fired a sitting Fed governor in the agency’s 112-year history.
▶ Read more about the Supreme Court case
1:18 a. m. GMT-6
U.S. Treasury secretary decries ‘anger’ Trump tariff threat
By JAMEY KEATEN
U.S. Secretary Treasury Scott Bessent 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 concern about Greenland once they hear his argument.
▶ Read more about Wall Street’s reactions to Trump’s tariff threats
1:15 a. m. GMT-6
Trump en route to Davos after plane troubles
By JOSH BOAK
Trump’s arrival in Switzerland has been delayed by mechancial trouble.
Things are unloaded from Air Force One after the plane, carrying President Donald Trump to the World Economic Form in Davos, experienced a minor electrical issue after departure, Tuesday, Jan. 20, 2026, and returned to Joint Base Andrews, Md. Trump will board a second plane to complete the trip. (AP Photo/Evan Vucci)
Things are unloaded from Air Force One after the plane, carrying President Donald Trump to the World Economic Form in Davos, experienced a minor electrical issue after departure, Tuesday, Jan. 20, 2026, and returned to Joint Base Andrews, Md. Trump will board a second plane to complete the trip. (AP Photo/Evan Vucci)
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.
▶ Read more about the mechanical trouble
0 Comments