It’s understandable to assume there are few places less welcoming to President Donald Trump than , Switzerland—the host of the World Economic Forum’s annual meeting, the focus of this issue. The President built his popularity by positioning himself as an adversary to those who frequent Davos: through his opposition to expertise and the global elite, his disdain for norms and consensus-building, and his criticism of those who prioritize causes like climate and international cooperation over economic self-interest. Yet Trump, whose took place during last year’s meeting, is set to appear in person at this January’s conference for the first time since 2020. (Even if he doesn’t attend, he will certainly remain the primary topic of discussion.)
It has been a highly active year for Trump beyond , and the annual meeting offers an opportunity to assess Year One of the . Though the President campaigned on “America First,” his actions abroad may have made the most significant impact. U.S. Presidents often turn to foreign policy in their second term. Unencumbered by future voter accountability and perhaps wary of domestic forces that can stifle a leader’s ambitions, they seek to leave a legacy beyond U.S. borders. America’s record over the past 12 months is mixed, but its effects are being felt globally. To examine one consequence, Charlie Campbell to explore how Africa is balancing mineral markets and the reduction of U.S. foreign aid.
To some surprise, Trump has been a proactive player on the world stage. The latest example: he began the New Year by and vowing to . Elsewhere, in 2025, he helped to that threatened its neighbors. In one of the two major conflicts dominating the global stage this decade, he crafted a , aiming to end major hostilities between . At the time of writing, he is attempting to replicate this approach to resolve another intractable conflict, . Ironically, some of the very behaviors that irk the traditional Davos crowd enabled these achievements.
Trump shows no signs of stepping back from global engagement. One area of particular focus has been trade. In this issue, economist Robert Lawrence writes about , while Neale Mahoney, a former special policy adviser at the White House National Economic Council, and Adam Shaw, an adviser at the Stanford Institute for Economic Policy Research, write about . IMF Managing Director Kristalina Georgieva , and Goldman Sachs CEO David Solomon spoke with Ayesha Javed about the —a topic that cannot be fully understood without considering the White House’s intentions. While a new form of international consensus has emerged over the past year, bearing Trump’s influence, Ian Bremmer warns that . “This will be the year the President’s vision of a Trump-dominated global trade and security order collapses,” he writes.
This year’s meeting is under new leadership, and two of the forum’s new leaders, and , discuss here how their organization is adapting to an era where global consensus-building is fading and nationalism and populism are ascendant. A key theme for them and all at Davos . (Following our selection, this will also be a central focus for TIME in 2026.) Contributors to the issue, including TIME owner and Salesforce CEO , attorney , and investor , write about the potential and applications of AI they believe 2026 will deliver.
Elsewhere, former Chilean President Michelle Bachelet, Dell Technologies founder Michael Dell, Rockefeller Foundation President Rajiv J. Shah, McKinsey Global Managing Partner Bob Sternfels, and WEF Young Global Leaders Angela Oduor Lungati and Hou Yifan that they are focused on addressing.
Since 2018, we have partnered with the World Economic Forum to create our . This year’s was edited by Ayesha Javed. We hope it serves not only as a useful guide for attendees but also as a framework for understanding what 2026 may bring.
