WEF analysis: Loud Trump in quiet Switzerland

US President Donald Trump talks to media during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Thursday, Jan. 22, 2026. Copyright 2026 The Associated Press. All Rights Reserved

Donald Trump dominated the WEF to such an extent that it was difficult for many observers to watch, according to an analysis by journalist Jan Baumann of SRF.

This was due in no small part to Trump’s disparaging remarks about other heads of state, including Swiss Finance Minister Karin Keller-Sutter.

However, the numerous business leaders from all over the world who had traveled to the event seemed not to be greatly bothered by the unrestrained Trump show, or they kept their irritation to themselves.

And on Wednesday, the WEF audience breathed a sigh of relief when Trump withdrew his threats of military force and additional tariffs regarding the Greenland issue. Even the global financial markets reacted positively.

Politically, however, skepticism is warranted: Trump’s aggression and imperialistic behaviour have shaken up the European political elite.

Europe is rebelling

EU Commission President Ursula von der Leyen and French President Emmanuel Macron defended themselves in Davos, insisting on sovereignty and invoking Europe’s economic strength. But it remains unclear how Europe can actually free itself from military dominance – or even from America’s overwhelming economic power.

In some ways, Europe is getting in its own way. Take, for example, the EU’s free trade agreement with Mercosur, which was highly praised at the WEF. Shortly afterward, the European Parliament put the brakes on it, likely in response to ongoing farmers’ protests – the European Court of Justice will need to review it first.

Meanwhile, tech giants like the heads of Microsoft and Nvidia appeared in Davos, as well as, unexpectedly, Tesla boss Elon Musk. And it became clear: whether Europe – particularly regarding key technologies like artificial intelligence and space travel – will ever reach parity with America’s tech giants is, to put it mildly, questionable.

Conscious Swiss restraint

What is almost even more striking is the silence of official Switzerland. It is the host country of the WEF. But the Swiss government failed to clearly and unequivocally reject the humiliation of former president Karin Keller-Sutter in front of the assembled world public. Foreign Minister Ignazio Cassis only described Trump’s words as “unacceptable” the following day. Even then, however, he avoided direct criticism of the US.

It is clear that the Swiss government prioritises its own economic interests over taking a politically courageous stance against American power plays. The current Swiss president and economics minister, Guy Parmelin, is more concerned with the diplomatically delicate tariff negotiations with the US delegation at the WEF and exchanged friendly words with WEF dominator Donald Trump.

This may please the Swiss export industry. It hopes for the lowest possible US tariffs to remain competitive with its products on the American market. But whether this strategy will pay off for the country in the long run in the new era of unpredictable Trumpian power politics is another question. Especially since influential European voices are at least openly discussing pursuing a more independent, less Trump-friendly path.

Adapted from German using AI/ac