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.

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.

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.

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.

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.

The World Economic Forum has held a meeting every year since it was founded in 1971. But why is Davos, as it is commonly known, so significant?

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

Europe has entered a new era of harsh geostrategic competition and will have to work together to avoid a global race to the bottom, European Commission President

Asean's main focus and interest are its economic fundamentals and boosting collaboration within the grouping, says Datuk Seri Anwar Ibrahim.