U.S. President Donald Trump is expected to arrive in Davos about three hours later than scheduled, Treasury Secretary Scott Bessent said on Tuesday, after travel disruptions delayed his journey to the World Economic Forum.
Bessent told reporters that the president’s schedule had been affected by earlier complications during his flight, but said Trump was still expected to attend key events and deliver his planned address at the forum.
The delay comes as world leaders, business executives, and policymakers gather in the Swiss resort town for the annual World Economic Forum, where discussions are focused on global economic growth, geopolitical tensions, trade, and security.
Trump had been scheduled to address the forum shortly after landing, but officials indicated that the timing of his appearance could now be pushed back due to the late arrival.
#Trump #Davos #WorldEconomicForum #WEF #Bessent #BreakingNews #TravelDelay #USPresident #GlobalLeaders #InternationalRelations #WorldNews #CurrentEvents #HeadlineNews #TopStory #LiveNews
Join this channel to get access to perks:
https://www.youtube.com/channel/UCpLEtz3H0jSfEneSdf1YKnw/join
Bessent told reporters that the president’s schedule had been affected by earlier complications during his flight, but said Trump was still expected to attend key events and deliver his planned address at the forum.
The delay comes as world leaders, business executives, and policymakers gather in the Swiss resort town for the annual World Economic Forum, where discussions are focused on global economic growth, geopolitical tensions, trade, and security.
Trump had been scheduled to address the forum shortly after landing, but officials indicated that the timing of his appearance could now be pushed back due to the late arrival.
#Trump #Davos #WorldEconomicForum #WEF #Bessent #BreakingNews #TravelDelay #USPresident #GlobalLeaders #InternationalRelations #WorldNews #CurrentEvents #HeadlineNews #TopStory #LiveNews
Join this channel to get access to perks:
https://www.youtube.com/channel/UCpLEtz3H0jSfEneSdf1YKnw/join
Category
🗞
NewsTranscript
00:00situation in which supply chains have become highly concentrated and vulnerable to both
00:05disruption and manipulation. President Trump's leadership
00:10is tending to these vulnerabilities. President Trump's leadership gathered these nations,
00:18and President Trump's leadership continues to drive the dialogue. In the G20, there is a world
00:24of parallel prosperity from which all will benefit. The United States is the premier
00:29destination for global capital. Thanks to President Trump, as I have often said, our country now has
00:35the most favorable tax, energy, and regulatory environment in the world, ensuring even stronger
00:41returns for partners who invest in America. And as we assume leadership of the G20, our agenda is one
00:48that we wish not just for ourselves, but for all of our allies. Grow, baby, grow. Growth is the only path
00:55out of this mountain of debt. And we can only grow together by expanding trade that is fair.
01:02And thanks to President Trump, America's first approach to rebalancing global trade,
01:07we all have the opportunity to do so. I look forward to taking your questions on trade and
01:13any other subject.
01:14Thank you, everybody. So let's go to the room first. The first question, please state your name
01:20and outlet. Gentleman over here on the right, in the black turtleneck.
01:24Thank you very much, Mr. Secretary. My name is Urs Keringer. I'm in the Swiss Weekly Weltwoche.
01:28We know that from previous statements that you value Swiss neutrality very highly. Our government every so
01:36often is taking away off neutrality. What would that mean in terms of our bilateral relationships
01:45if Swiss more and more, Switzerland more and more would side with EU, for example, or would
01:51depart from our national, from our traditional neutrality?
01:55Well, let's talk about what Switzerland emulating the failed EU economic policies would do.
02:03Switzerland, a company, a country of 9 million people. Amazingly, the box is so far above its
02:11weight class. It is an industrial powerhouse. It is home to, as I said yesterday, a thriving middle
02:17class. And I would worry if you started emulating the EU policies of administration, bureaucracy and
02:25economic sclerosis. And it would be very disappointing if Switzerland decided to get on the
02:33EU bandwagon. Talk, talk first, and not think about the consequences later.
02:42Thank you. Move to the next question, please. Front row, yellow tie, name and outlet, please.
02:49Edward Lawrence from Fox. Thanks, Mr. Secretary. So the President says he's going to put a 10%
02:53tariff on Greenland starting February 1st. It goes up to 25%. How concerned are you going to start a trade
03:00war with Europe? And is it worth risking the US economy for Greenland? Well, I'm not going to get
03:06ahead of the President. The President obviously believes that national security is economic
03:11security. Economic security is national security. And we're not putting a 10% tariff on Greenland.
03:18We're putting a 10% tariff on the eight countries that chose to send troops to Greenland. I mean,
03:25for those countries to activate their troops, I'm not sure what signal that's supposed to send. It seems
03:35pretty exotic to me. So President Trump has made it clear that we will not outsource our national
03:46security or our hemispheric security to any other countries. Our partner, the UK, is letting us down
03:53with the base on Diego Garcia, which we had shared together for many, many years. And they want to
03:59turn it over to Mauritius. So President Trump is serious here. Just as I said, after Liberation Day
04:08last year, I would tell everyone, take a deep breath. Do not have this reflexive anger that we've seen,
04:16and this, the bitterness. Why don't they sit down, wait for President Trump to get here
04:23and listen to his argument? Because I think they're going to be persuaded.
04:27If I could, on the Supreme Court today, you went to a Supreme Court hearing. Why shouldn't
04:32Fed Chairman Jerome Powell go? Yeah, I am a political appointee. And Chair Powell is not. Chair Powell says
04:41that the Fed must stay above politics and the politics cannot get enmeshed into the Fed. I have
04:47become very frustrated with the Fed for refusing to do an internal investigation. I think all of this
04:55could have been avoided. I have been calling for an internal investigation at the Fed since last summer,
05:02and even before that. So there are two things at stake here. One, does the President have the authority
05:10to remove Governor Cook for alleged malfeasance? Two, did Governor Cook commit mortgage fraud?
05:21I am not sure why Chair Powell would go and support Governor Cook when the Fed has not undertaken
05:30an examination of whether she did in fact commit mortgage fraud. If she did, she is stealing from
05:36the American people every day because she has a GSE-backed mortgage. And as I've said before, it is
05:44very unfortunate that on Chair Powell's watch, we will have seen between four and six governors and bank
05:52presidents have to step down for ethical lapses. Now, four to six may not seem like much. That is out of 19.
06:00I can tell you, as someone who is on Wall Street, if you were on a, if you were the leader of a Wall
06:06Street firm, you would have a failure to supervise problem. So again, I think that his sitting in the
06:13front row of the Supreme Court is a political statement. And I agree with him. The Fed should
06:19not be politicized. He is politicizing the Fed. I went in my capacity as a political employee
06:26in the Trump administration. Governor calls you smug. Are you smug?
06:31Yeah, you know, I think it's, I think it's very, very ironic that, you know, Governor Newsom,
06:40who strikes me as Patrick Bateman meets Sparkle Beach Ken, may be the only Californian
06:46who knows less about economics and Kamala Harris. He's here this week with his billionaire sugar daddy,
06:54Alex Soros. And the Davos is a perfect place for a man who, when everyone else was on lockdown,
07:02when he was having people arrested for going to church, he was having $1,000 a night meals
07:08at the French Laundry. And I'm sure the California people won't forget that. And I can tell my message
07:14to Governor Newsom is the Trump administration is coming to California. We are going to crack down
07:20on waste, fraud and abuse. And I was told he was asked to give a speech on his signature policies,
07:28but he's not speaking. Because what if his economic policies brought? Outward migration from California,
07:36a gigantic budget deficit, the largest homeless population in America, and the poor folks in the
07:42Palisades who had their homes burned down, he is here hobnobbing with the global elite, while his
07:51California citizens are still homeless. Shame on him. He is too smug, too self-absorbed,
07:59and too economically illiterate to know anything. Thank you very much. Let me know if you need any
08:05further clarification. And that goes for all of you, if you need any more clarification on that.
08:12Next question, please, gentlemen, second row with glasses, name an outlet, please. Thank you.
08:16Good morning, Jamie Keaton, Associated Press. Thank you, Secretary, for coming to see us again.
08:22Yesterday, the S&P 500 dropped more than 2%. Gold and silver hit new highs. And the European Union
08:28Commission President Ursula von der Leyen said that U.S. tariffs over Greenland were a mistake. And
08:36President Macron has mentioned the use of the EU's anti-coercion measures. All after you said,
08:45as you've said this morning as well, that people need to take a breath over this situation. What
08:51conversations have you had with EU and other counterparts to help stabilize markets and to help
08:58convince them to take a breath? And I'd just like to add, how concerned are you that institutional
09:03investors in Europe may be pulling out of treasuries, such as from pension funds in Denmark and elsewhere?
09:10Well, the size Denmark's investment in U.S. treasury bonds, like Denmark itself, is irrelevant.
09:19That is less than $100 million. They've been selling treasuries for years. I'm not concerned at all.
09:26Again, as Treasury Secretary, I see our Treasury auctions. We've had record foreign investment. And also,
09:34as I said yesterday, I think it is very difficult to disaggregate any of the noise around Greenland,
09:43around these inflammatory statements by President Macron, by President van der Leyen,
09:49from what we have seen in the Japanese bond markets. We saw a sixth standard deviation move
09:58in Japanese bonds, which were to other markets. And I've been in touch with my Japanese economic
10:05colleagues. And I'm assured that they will take measures to stabilize that market. And just so
10:12everyone knows that this notion that Europeans would be selling U.S. assets came from a single analyst
10:21at Deutsche Bank. Of course, the fake news media led by the Financial Times amplified it. And the CEO of
10:30Deutsche Bank called to say that Deutsche Bank does not stand by that analyst report.
10:35I'm waiting for President Trump to arrive, and that will be done at his level.
10:45Great. Thank you. Let's take the next question, please. We'll move to the side of the room.
10:49Sir, right here. Name an outlet, please. Thank you.
10:52Thank you very much. Stefan Lanz, biggest news media of Switzerland, 20 minutes.
10:57Have there been, can you give us an update on the trade negotiations and tariff negotiations with
11:02Switzerland? Have there been talks already? Will there be talks? Will you have meetings with
11:07homologs from the Swiss Federal Council? Yeah, I'm seeing President Parmalac today,
11:12who I have a very good relationship with. We got to know each other in 2025. I find him to be
11:19very economically sophisticated, the on trade, on economics. He's a fantastic advocate for the
11:26French people. And I think, with his leadership, that we will be able to land a trade deal that is
11:33fair for the American people and ensures the continued prosperity of Switzerland.
11:38That's great. Thank you. We'll take the next question. Sir, right here,
11:41second row. Name an outlet, please. Yes, thank you. Holger Ehrlich, Swiss Business
11:45Publication Handels Zeitung. Mr. Secretary, I listened yesterday to your session at Davos, where you said,
11:51the US needs to take Greenland not to be drawn into a major conflict, but by aiming at taking Greenland,
12:01aren't you creating that conflict with your allies in Europe? Thank you. I think that we are asking our
12:08allies to understand that Greenland needs to be part of the United States. And just a little history
12:16lesson. The United States bought the US Virgin Islands from Denmark during World War I. And I will
12:24remind everyone, I remind everyone that Denmark remained neutral during World War I. They actually
12:31sold quite a bit to the Germans. But the Danish understood then the importance of the US Virgin
12:39Islands. They were worried about the German ramifications. If the war spread to the Caribbean,
12:46the US needed the US Virgin Islands, they wanted a calm Caribbean after purchasing the Panama Canal
12:55from the French. Great. Let's move to the next question, please. Let's go back to this side of
13:02the room. In the glasses, second row, name an outlet, please. Thank you. As a warning, everyone, we have
13:09about five minutes left. The schedule is a little tight today. So we'll have time for about two or three more
13:13questions than most. Thank you. Hi, good morning. Alina Trabertoni, Montel News. So tariffs and trade
13:19actions, in theory, strengthen the dollar. And since LNG is priced in dollars, could a stronger dollar
13:25make US LNG more expensive for European buyers in Euro terms? And isn't there a concern that European
13:33markets could look elsewhere for suppliers? Well, your question doesn't make sense. Because if you just said
13:40it was priced in dollars, then why would they look elsewhere for supplies? If oil comes from Saudi,
13:47it's priced in dollars. If oil comes from the North Sea, it's priced in dollars. So I don't think I
13:52understand the question. Yeah, LNG. But I mean, they could get better deals elsewhere. Well, no, there's
14:00a, again, I think you're tripping on your own question, that there's a global price for oil.
14:09And the only way to get a better deal elsewhere is to buy sanction oil from Venezuela, sanction oil from
14:15Iran, and sanction oil from Russia. I will point out that the EU, four years into the Ukraine-Russia
14:23conflict, continues to fund the Russian war machine by buying cheap Russian oil. In 2018,
14:32President Trump warned the Europeans, do not build Nord Stream 2, do not buy Russian oil. And guess
14:40what funded, guess what gave Vladimir Putin the war chest to fund this war? The European purchases of
14:49Russian oil. Great. Thank you. We'll move to the next question, please. I'm going to give some
14:56back. Gentleman back here, please. Orange Lanyard had a bit of beard. Yes, beard. Name and outlet,
15:02please. Microphone is coming from this side. Thank you for the floor. Rafael Zwallen, Swiss News Agency.
15:11I have a question on trade. And then my understanding, you would like to export more agricultural products and
15:17cars to Europe under American standards, but the European standards are different. Are you asking
15:25European partners to change the standards, or do you respect that in Europe we may have other standards?
15:35Well, I think that we can look at global standards. For instance, our partners in Japan agreed
15:44that US standards are to remove a lot of their onerous standards. Let's be clear. Europe is a regulatory
15:53morass that is built on bureaucracy and layering and layering of rules that constrain economic activity and
16:09economic growth. As we've seen from the Draghi report, that Europe taxes itself. I believe it's 50% on goods,
16:16100% on services intra-Europe. So I think that Europe should break down the intra-Europe trade barriers.
16:25And I think that they should break down the external trade barriers. Because what we find is these
16:32artificial standards are called non-tariff trade barriers, and that they are a major problem
16:39throughout the world.
16:40That's great. And this is going to be the last question then today, I think.
16:45We'll conclude it up here, back in the front row, please, sir. Laptop name and outlet.
16:50Hi, Laurent Thome with Agence France-Presse. A couple of questions if I may.
16:55Could you tell us if President Trump, what happened with Air Force One, and if you think,
17:01if you know if President Trump will be here on time for his meetings and his speech? And this morning,
17:08President Macron's office said that they want, France wants a NATO mission,
17:15I'm sorry, a NATO exercise in Greenland. What would you have to say about that?
17:19A couple of things. I believe President Trump is going to be about three hours late. I haven't seen the
17:25updated schedule. And that if this is what all President Macron has to do when the European,
17:33when the French budget is in shambles, I would suggest that he focuses
17:37on other things for the French people.
17:38Can you take a question from the UK, a special relationship?
17:43Go on, one question.
17:46We'll have one last question, very, very eloquently asked. If we can have the microphone
17:51microphone on his left here, feel free to use my microphone.
17:54Hi, Sue Chan from The Telegraph in London. Sir Peter Starmer has irked the President on issues
17:59such as Chagos, as you mentioned, the digital services, taxes, and of course, Greenland.
18:05And Diego Garcia.
18:06Yes, of course. Are these issues tied to more progress on UK-US trade ties? And are any more trade
18:16talks scheduled? Thank you. I haven't seen that any more trade talks are scheduled. As you know,
18:26UK stepped up. They became the model for the first trade deal. And as a result, as always with President
18:34Trump, the first deal is the best deal. And because of special relationship, UK got a very low rate. I
18:42think that we are continuing to negotiate, but that there have been some glitches in the trade deal.
18:48I am sure that the Starmer government will push forward.
18:53Fantastic. Thank you so much for the time, everybody.
18:57We'll stay in touch and have a wonderful day. Thanks a lot.
19:25Thanks a lot.
Comments