NATO Secretary-General Mark Rutte warned that restoring the alliance's credibility after a Russian victory in Ukraine could require trillions of dollars.

In a speech, the U.S. President said Canada could become a U.S. state to avoid tariffs, and suggested that the U.S. doesn’t need Canadian oil and gas, cars or lumber

Trump used Davos to warn Europe, demanding NATO allies raise defence spending to 5% of GDP and threatening tariffs on companies not manufacturing in the US. He linked lower oil prices to ending the Ukraine war and assured LNG exports to Europe would continue.