At the World Economic Forum in Davos, a fresh division in global banking is emerging: firms that get to enjoy the sound of rules being torn up in Washington, and those that get to worry they’ll be left behind.

Bankers at JPMorgan worked through the night in a "war room" to try and assess the early impact of U.S. President Donald Trump's administration on global trade, regulation and other matters, an executive at the bank said on Tuesday.

EU chief Ursula von der Leyen declared Tuesday that Europe was ready to negotiate with the United States and seek to improve ties with China as Beijing warned against damaging trade wars in the face of Donald Trump's protectionism.