Trump's Return to Davos: Boost to US-Swiss Relations and Global Economic Forum
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US President Donald Trump is set to attend the World Economic Forum's annual meeting in Davos next year, signaling a warming of US-Swiss relations as the two nations near a trade deal. Trump's presence at the event, which was first lured business executives to Davos in 1971, would be a significant boost for the Forum after a tumultuous year. The President's attendance comes after a rocky period for the organization, which was marred by a scandal centered on allegations of financial improprieties by founder Klaus Schwab. However, Schwab was cleared of any wrongdoing in an independent probe, and the Forum has since implemented reforms to its governance. The trade deal between the US and Switzerland has been a long time coming, with the two nations struggling to finalize an agreement. In 2020, Trump imposed 39% tariffs on Swiss exports, the highest of any advanced economy. However, recent efforts by Swiss billionaires and business leaders to lobby Trump have led to a positive response, and negotiations are underway to finalize a deal that would lower tariffs. The Swiss government sees Trump's appearance as an opportunity to reset relations with the White House, particularly as the country's executive is taken over by Economy Minister Guy Parmelin. Parmelin is set to assume the rotating Swiss presidency from Karin Keller-Sutter on January 1. While plans for Trump's attendance have not been completely finalized, a White House official has confirmed that the President is expected to attend the event. The exact list of confirmed participants will be published one week before the start of the Annual Meeting. Trump's attendance at the World Economic Forum's annual meeting would be a major draw for the event, which is widely regarded as a must-attend event for bankers, business leaders, and politicians alike. The Forum's organizers are likely to welcome the President's presence, which would help to revitalize the organization after a challenging year.
