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Donald Trump likes to discomfort his enemies.

Not to mention his friends, his partners, business adversaries, celebrity critics, anyone, in fact, who could end up on the other side of a deal.

As president of the world’s largest economy, that makes for a long list, many of them in Davos on Tuesday trying to make sense of what his second term will mean, and not getting very far.

Money blog: Trump’s cryptocurrency crashes as critics call it worthless

The World Economic Forum is a body that likes to think it has the answers. The annual conference attracts leaders from business, politics and civil society, gathering to share their wisdom and cut deals on the side.

Less than 48 hours into Trump II not only are they struggling for answers, they’re yet not clear what the question is.

For European political leaders, already exposed to soaring US growth rates, Trump’s still-vague threats to “tax and tariff” could pose a fundamental threat to economic cooperation and stability.

In the absence of firm policy, they promised to work with Trump, but not at all costs.

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Beckham: ‘Here to be voice of children’

European Commission president Ursula Von der Leyen conceded that the harmonious world order imagined at the turn of the century is dead – “Instead we have a new era of harsh geo-strategic competition.”

The race is one, she said, but not to the bottom. “We will be pragmatic but we will always stand by our principles… because that is the European way.”

Outgoing German chancellor Olaf Scholz, already a victim of the European populist wave, acknowledged the uncertainty.

“President Trump and his government will keep the world in suspense in the coming years,” he said. “We can and will deal with that, without unnecessary agitation and outrage, but also without false ingratiation or telling people what they want to hear.”

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Beckham: ‘Here to be voice of children’

A glance at the tech billionaires lined up in front of the cabinet at the inauguration, behind only the Trump family, suggests that may be wishful thinking.

Ukraine

The most coherent response came from the European leader with most to lose.

Volodymyr Zelenskyy asked not what Trump will do to help defeat Russia, but what Europe will do to remain relevant.

He painted a picture of a US administration striking deals with Russia and China while Europe looked on, a fundamental challenge and a call to arms that made the continents’ leaders shift in their seats.

For business, the implications are less grave but no less knotty.

Business reaction

Bankers and investors are braced for the upside of a president who will measure success by the stock market as much as poll ratings, The crypto crowd meanwhile have a spring in their snowshoes.

Others hope economic reality will outrun rhetoric.

In the face of Trump’s rejection of renewables and a promise to “drill baby, drill”, Henrik Anderson, chief executive of Danish wind turbine manufacturer Vestas, was not being blown off course

“The US is our largest market, I listened to most of it [the inauguration] before I went to bed last night, and I slept well overnight,” he told Sky News.

“This is the new administration coming into play, some of the legislation will either change or continue, but what I think we will see is that creating the energy he needs will also create jobs.”

Others are not so sure. “F****** hell,” said one prominent British chief executive with a shake of the head.

Donald Trump has everyone guessing, which is just the way he likes it.

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‘Never-before-seen’ images of Jeffrey Epstein’s island released – showing ‘disturbing look into his world’

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'Never-before-seen' images of Jeffrey Epstein's island released - showing 'disturbing look into his world'

Images and video of Jeffrey Epstein’s private Caribbean island have been released by politicians in the US.

Democrats on the House Oversight Committee said on X that they were “a harrowing look behind Epstein’s closed doors”.

“We are releasing these photos and videos to ensure public transparency in our investigation and to help piece together the full picture of Epstein’s horrific crimes,” said representative Robert Garcia.

“We won’t stop fighting until we deliver justice for the survivors.”

The images show empty courtyards, bedrooms and other rooms from his villa.

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Mr Garcia said: “It’s time for President Trump to release all the files, now.”

President Trump recently approved their release after US Congress voted overwhelmingly in favour.

More on Jeffrey Epstein

The US Department of Justice now has until mid-December to release thousands of files linked to civil and criminal cases involving Epstein.

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It could shed more light on the paedophile financier, who socialised with figures including Donald Trump, Andrew Mountbatten-Windsor and Peter Mandelson.

Their connections have already been revealed in more than 20,000 other files disclosed last month.

But much more is set to follow as the Epstein Files Transparency Act demands release of all files relating to Epstein, including investigations, prosecutions and custodial matters, as well as records connected to Ghislaine Maxwell.

Politicians have said the files’ release is critical to uncovering whether powerful figures have received special treatment or protection.

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Why Putin won’t agree to latest Ukraine peace plan

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Why Putin won't agree to latest Ukraine peace plan

The Americans were given the full VIP treatment on their visit to Moscow. 

There was a motorcade from the airport, lunch at a Michelin-starred restaurant, and even a stroll around Red Square.

It felt like Steve Witkoff and Jared Kushner were on more of a tourist trail than the path to peace.

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Trump’s envoys walk around Moscow

They finally got down to business in the Kremlin more than six hours after arriving in Russia. And by that point, it was already clear that the one thing they had come to Moscow for wasn’t on offer: Russia’s agreement to their latest peace plan.

According to Vladimir Putin, it’s all Europe’s fault. While his guests were having lunch, he was busy accusing Ukraine’s allies of blocking the peace process by imposing demands that are unacceptable to Russia.

The Europeans, of course, would say it’s the other way round.

But where there was hostility to Europe, only hospitality to the Americans – part of Russia’s strategy to distance the US from its NATO allies, and bring them back to Moscow’s side.

Vladimir Putin and Steve Witkoff shaking hands in August. AP file pic
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Vladimir Putin and Steve Witkoff shaking hands in August. AP file pic

Putin thinks he’s winning…

Russia wants to return to the 28-point plan that caved in to its demands. And it believes it has the right to because of what’s happening on the battlefield.

It’s no coincidence that on the eve of the US delegation’s visit to Moscow, Russia announced the apparent capture of Pokrovsk, a key strategic target in the Donetsk region.

It was a message designed to assert Russian dominance, and by extension, reinforce its demands rather than dilute them.

Read more:
Michael Clarke answers your Ukraine war questions
‘Thousands’ of Westerners applying to live in Russia

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‘Everyone must be on this side of peace’

…and believes US-Russian interests are aligned

The other reason I think Vladimir Putin doesn’t feel the need to compromise is because he believes Moscow and Washington want the same thing: closer US-Russia relations, which can only come after the war is over.

It’s easy to see why. Time and again in this process, the US has defaulted to a position that favours Moscow. The way these negotiations are being conducted is merely the latest example.

With Kyiv, the Americans force the Ukrainians to come to them – first in Geneva, then Florida.

As for Moscow, it’s the other way around. Witkoff is happy to make the long overnight journey, and then endure the long wait ahead of any audience with Putin.

It all gives the impression that when it comes to Russia, the US prefers to placate rather than pressure.

According to the Kremlin, both Russia and the US have agreed not to disclose the details of yesterday’s talks in Moscow.

I doubt Volodymyr Zelenskyy is filled with hope.

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Hegseth cites ‘fog of war’ in defence of second US strike on alleged drug boat

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Hegseth cites 'fog of war' in defence of second US strike on alleged drug boat

US defence secretary Pete Hegseth has cited the “fog of war” in defence of a follow-up strike earlier this year on a boat alleged to be carrying drugs in the Caribbean Sea.

His comments came on the day the Pope urged Donald Trump not to try to oust Venezuelan President Nicolas Maduro using military force.

Speaking at a cabinet meeting on Tuesday alongside Mr Trump, Mr Hegseth said the US had paused strikes because it was hard to find drug boats.

But strikes against drug traffickers would continue, he said.

Pope Leo XIV talks to reporters as he returns from visits to Turkey and Lebanon. Pic: AP
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Pope Leo XIV talks to reporters as he returns from visits to Turkey and Lebanon. Pic: AP

During the cabinet meeting at the White House, Mr Hegseth said that he did not see that there were survivors in the water when the second strike was ordered and launched in early September, saying that “the thing was on fire”.

Mr Hegseth also said he “didn’t stick around” for the rest of the mission following the first strike, adding that the admiral in charge had “made the right call” in ordering it, which he “had complete authority to do”.

The Washington Post first reported that Mr Hegseth issued a verbal order for the second strike that killed survivors on the boat.

On Monday, the White House said that Navy vice admiral Frank “Mitch” Bradley acted “within his authority and the law” when he ordered the second strike.

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Pope pleads to Trump not to oust Venezuelan president by force

Asked if he supported the second strike on a boat in the Caribbean Sea in September, President Trump said he “didn’t know anything” and “still haven’t gotten a lot of information because I rely on Pete”, referencing Mr Hegseth.

On Tuesday, Pope Leo, the first American pontiff, said it would be better to attempt dialogue or impose economic pressure on Venezuela if Washington wanted to pursue change there.

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The Trump administration has been weighing options to combat what it has portrayed as Mr Maduro’s role in supplying illegal drugs that have killed Americans.

The socialist Venezuelan president has denied having any links to the illegal drug trade.

Asked during a news conference about President Trump’s threats to remove Mr Maduro by force, the Pope said: “It is better to search for ways of dialogue, or perhaps pressure, including economic pressure.”

He added that Washington should search for other ways to achieve change “if that is what they want to do in the United States”.

The Pope was speaking as he flew home from visiting Turkey and Lebanon – his first overseas trip in the role.

Mr Maduro has said Venezuelans are ready to defend their country as the US considers a land attack.

Venezuela's President Nicolas Maduro in Caracas. Pic: Reuters
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Venezuela’s President Nicolas Maduro in Caracas. Pic: Reuters

A map showing Venezuelan military facilities
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A map showing Venezuelan military facilities

The president held a rally in Caracas amid heightened tensions with Mr Trump’s administration, which has been targeting what it says are boats carrying drug smugglers.

Mr Trump met his national security team on Monday evening, having warned last week that land strikes would start “very soon”.

It has not been confirmed what was discussed at the meeting. But White House press secretary Karoline Leavitt told reporters: “There’s many options at the president’s disposal that are on the table – and I’ll let him speak on those.”

US forces have carried out at least 21 strikes on boats it claims were carrying narcotics to its shores over the last few months.

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Did Pete Hegseth commit a war crime?

Mr Maduro – considered a dictator by many in the West – said on Monday that Venezuelans were ready “to defend [the country] and lead it to the path of peace”.

“We have lived through 22 weeks of aggression that can only be described as psychological terrorism,” he said.

Venezuela has said the boat attacks, which have killed more than 80 people, amount to murder – and that Mr Trump’s true motivation is to oust Mr Maduro and access its oil.

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