Davos 2026 opens under shadow of Trump-Europe tensions as Ukraine slips from centre stage
The World Economic Forum opened in Davos this week against a backdrop of growing geopolitical uncertainty, with European leaders increasingly focused on the future of transatlantic relations, trade tensions with the United States and the continent's long-term strategic autonomy
Just weeks ago, many observers expected Ukraine to dominate discussions at the annual gathering of political and business leaders. Russia was widely seen as Europe’s principal security challenge and support for Kyiv was expected to feature prominently in both public debates and private meetings.
Instead, attention has shifted sharply toward Washington.
A new dispute triggered by U.S. President Donald Trump's stance on Greenland and his decision to impose punitive tariffs on several European countries has altered the mood in Davos. European officials arriving in the Swiss Alps now find themselves debating not only Russia’s actions but also the future reliability of the United States as Europe’s closest ally.
The change in focus is reflected in the forum’s political agenda. A meeting between Trump and Ukrainian President Volodymyr Zelenskyy, which many expected to become one of the defining moments of this year's gathering, had not been scheduled as delegates arrived. According to a Republican foreign policy expert cited by Politico, Zelenskyy remains willing to meet Trump, while hesitation appears to be coming from the White House.
Ukraine's participation also remains uncertain. Zelenskyy recently said he was staying in Kyiv to oversee preparations related to energy infrastructure and heating systems ahead of the winter season. He stressed that discussions with international partners must produce concrete outcomes, whether through strengthening Ukraine's security or advancing efforts to end the war.
"If meetings in Davos can provide more protection for real people, real cities and villages in Ukraine, Ukraine will be in Davos," Zelenskyy said. "If partners are not ready, all Ukrainian representatives should focus on concrete things that help our state and our citizens."
Wednesday is expected to be an important day for Kyiv. Leaders of the so-called coalition of the willing are due to meet Trump and seek his backing for post-war security guarantees for Ukraine that were developed during discussions in Paris earlier this month.
Yet Ukraine is no longer the sole geopolitical concern occupying delegates.
The broader question dominating conversations is whether the relationship between Europe and the United States is entering a period of lasting strain. Trump’s tariff measures have intensified fears of a transatlantic trade confrontation, prompting discussions about possible European countermeasures.
French President Emmanuel Macron has urged EU member states to consider activating what has become known as the bloc’s "trade bazooka" and restrict American access to parts of the European single market. In Britain, some lawmakers have even suggested cancelling a planned royal visit to the United States, a proposal that would once have been difficult to imagine.
The atmosphere has reinforced a growing perception among European policymakers that the continent must become less dependent on Washington in areas ranging from defence and security to technology, finance and energy.
European media have increasingly described Davos 2026 as a forum where the focus has shifted from individual crises to the wider question of Europe's place in a more fragmented world order. Discussions have centred on whether the European Union can convert its economic weight into greater strategic autonomy, particularly as competition with both the United States and China intensifies.
Ideas once considered politically distant are receiving more serious attention. Among them are proposals to strengthen the EU's defence capabilities, reduce reliance on American security guarantees and develop independent technological and financial infrastructure, including alternatives to U.S.-dominated payment systems.
The concerns emerging in Davos reflect wider anxieties about the global economy.
The World Economic Forum's own survey of chief economists shows nearly nine in ten expect global growth to weaken over the coming year, while almost all anticipate higher inflation. The outlook has been clouded further by conflict in the Middle East, which has disrupted energy markets and increased uncertainty around trade and investment.
Against that backdrop, the forum's discussions are taking place under the theme "A Spirit of Dialogue." WEF President Børge Brende described dialogue as an urgent necessity in a period of uncertainty.
Not everyone shares the optimism.
Mark Leonard of the European Council on Foreign Relations argued that the dominant story in Davos would be one of disruption rather than stability. Technological change, climate pressures, economic shocks and political turbulence, he said, are combining to create what he calls a world of "un-order," where traditional rules and power structures are struggling to keep pace with reality.
Those concerns extend beyond economics. Security experts attending the forum continue to warn about hybrid threats linked to Russia, including cyberattacks, sabotage, disinformation campaigns and pressure on European borders. While support for Ukraine remains broadly intact across Europe, analysts say Moscow increasingly views such activities as part of a wider confrontation with the West.
The gathering itself reflects the scale of the challenges under discussion. Nearly 3,000 participants are expected in Davos this year, including around 65 heads of state and government, six G7 leaders and roughly 1,000 chief executives and technology leaders.
At the same time, another major World Economic Forum event is taking place in China. The Annual Meeting of the New Champions, often referred to as "Summer Davos," opened in Dalian on June 23 under the theme "Innovating at Scale." More than 1,700 leaders from over 90 countries are attending discussions focused on shifting trade patterns, China's economic transition, artificial intelligence, employment and the energy transition.
The contrast between the two gatherings is notable. While Dalian is largely focused on growth, innovation and the future of global commerce, Davos has become a venue where European leaders are confronting deeper questions about security, economic resilience and the future of the international order.
Whether the week produces concrete answers remains unclear. For many participants, the central question is no longer how to manage a changing world, but how quickly that world is changing and whether existing alliances and institutions can adapt in time.