Trump Arrived in Davos as a Party Wrecker. He Leaves Praised as a Pragmatist.
Many worried that Mr. Trump’s attacks on the World Trade Organization, his threats to pull the United States out of the North American Free Trade Agreement
and his frequent intonations of a trade war with China could undermine the global economic expansion.
“On behalf of the business leaders here in this room let me particularly congratulate you for the historic tax reform,” Mr. Schwab said, adding
that the tax cuts were “fostering job creation while providing a tremendous boost to the world economy.”
Whatever the optics of the head of an institution dedicated to reducing economic inequality offering
his unqualified support for Mr. Trump’s tax cuts, Mr. Schwab was indeed speaking for business.
“There’s a very constructive mind-set in the Trump administration to find the best path forward,” said Vas Narasimhan, global head of drug
development for Novartis, who attended a dinner Mr. Trump hosted on Thursday night with leaders of more than a dozen European companies.
In a briefing with reporters on Thursday, Cecilia Malmstrom, the European Union trade minister,
expressed concerns about the Trump administration’s threats of a trade war with China.
“I’m optimistic that, with other world leaders, most of these issues can be tackled
in a productive way for the global economy and for global businesses.”
During the dinner, Mr. Trump made the rounds, stopping to ask executives how they
plan to increase investment in the United States, according to attendees.