Donald Trump's shadow extended over the World Economic Forum (WEF) in Davos this week, despite his physical absence. His protectionist trade policies and "America First" agenda continued to be a major topic of discussion among global leaders and business executives, casting a pall over the gathering.

Trump's influence was felt in discussions about potential trade wars and the future of global supply chains. His administration's imposition of tariffs on imported goods, estimated to potentially raise "trillions," remained a concern for businesses reliant on international trade. The threat of increased tariffs incentivized companies to consider relocating production facilities to the United States, potentially disrupting existing global market dynamics.

The uncertainty surrounding U.S. trade policy created volatility in financial markets, particularly for companies with significant exposure to international trade. Industries such as manufacturing, automotive, and technology faced potential disruptions to their supply chains and increased costs. Investors closely monitored developments in trade negotiations, with market sentiment fluctuating based on the perceived likelihood of further escalation.

Trump's previous appearance at Davos, just days after his inauguration, left a lasting impression. His remarks about territorial ambitions and his "offer you can't refuse" to companies importing into the U.S. underscored his commitment to reshaping the global economic order. While he apologized for not attending this year, his policies continued to shape the discussions and anxieties at the forum.

Looking ahead, businesses and governments alike are bracing for continued uncertainty in the global trade landscape. The future of international trade agreements and the potential for further protectionist measures remain key concerns. The WEF served as a platform for leaders to strategize and navigate the evolving economic environment shaped by Trump's policies.