President Donald Trump has given everyone at Davos something to talk about with his actions on the first day of his second term

The European Union wants to engage and negotiate with U.S. President Donald Trump, European Commission President Ursula von der Leyen said on Tuesday, warning of the risk of a "global race to the bottom" using tools such as tariffs.

European Commission President Ursula von der Leyen warned on Tuesday of the risk of a 'global race to the bottom' using economic tools such as sanctions, export controls and tariffs. Speaking at the World Economic Forum's annual meeting a day after the inauguration of U.

Europe will respond to any tariffs imposed by President Donald Trump in a proportionate way, the European Union’s commissioner for the economy told CNBC Wednesday.

Von der Leyen insisted that the United States remains an important partner, taking a conciliatory tone in a speech to the annual meeting of global elites in Davos, Switzerland. The EU's "first priority will be to engage early, discuss common interests, and be ready to negotiate" with Trump, she said.

Business Insider's diary takes you behind the scenes on day three of the World Economic Forum in Davos.

China's Vice-Premier Ding Xuexiang at the 55th annual World Economic Forum meeting in Davos, Switzerland, January 21, 2025. REUTERS/Yves Herman China does not pursue a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.

EU, German and Chinese leaders took turns defending global cooperation in Davos on Tuesday as the spectre of new trade wars looms following Donald Trump's return to the White House.

The European Union is working on a proposal for bloc-wide purchase incentives for electric vehicles to support the bloc’s struggling automakers, German Chancellor Olaf Scholz said Tuesday.

A trade war is not in the interest [of either party] neither for the U.S., neither for the European Union,” Pedro Sanchez said.

Mr Merz argued the need “to negotiate with the American side from a position of strength”. Read more at straitstimes.com.

A speech by the U.N. chief, economic growth potential in places like China and Russia, the challenges of artificial intelligence and leaders from Spain to Malaysia are set to headline the agenda at th