Trump at Davos 2026: US President slams Europe’s ‘decline’ while touting US economic growth

Davos, Switzerland: US 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 US 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 US 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."

The president finished his speech by congratulating the people in the room for all their successes and declared that the US 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.

He's taken digs at French President Emmanuel Macron over Europe for selling pharmaceuticals to the US at a premium. He ripped Denmark for a lack of appreciation for the US 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.

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 US

"A majority of the money they make is because of us, because we never charge them anything," he said.

Nearly an hour in, Trump talks US housing and pans some affordability policies

Talking about the US 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.

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.

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 US 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 US 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 US 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."

Once again, Trump falsely insists the 2020 election was 'rigged'

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 US 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 US "probably won't get anything" unless he decided to "use excessive strength and force" that he said would make the US "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 US to acquire Greenland from Denmark during his speech at Davos.

The president also lashed out at Denmark for being "ungrateful" for the US protection of the Arctic island during World War II and continued to make his case that the US 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."

Trump says Greenland push is not about the need to secure sought-after rare earth elements

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 US needs it for "strategic national security and international security."

Windmills are "all over Europe" and are "losers" bought by "stupid people," the US 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 US 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 US, 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 US 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.