The 2026 World Economic Forum in Davos was dominated by US President Donald Trump’s initiatives, high-profile Ukraine diplomacy and a forceful address from Canadian Prime Minister Mark Carney that many delegates called the summit’s defining moment.
Trump unveiled a new international body he dubbed the “Board of Peace,” pitching it as a fast-moving peacebuilding forum he would chair to oversee a Gaza truce and reconstruction. He described the body as potentially historic and said it would “work with others including the United Nations.” The charter-signing at Davos drew a mix of supporters and skeptics. Leaders who signed onstage included Hungary’s Viktor Orbán and Argentina’s Javier Milei, and representatives from Bahrain, Morocco, Armenia, Azerbaijan, Bulgaria, Indonesia, Jordan, Kazakhstan, Kosovo, Pakistan, Paraguay, Qatar, Saudi Arabia, the UAE, Uzbekistan and Mongolia also attached their names.
Some traditional US allies stayed away. Germany, France and Britain publicly distanced themselves amid concerns the new Board could rival the UN; reports that countries were asked to pay $1 billion for permanent membership heightened unease. Invitations reportedly included contentious figures such as Vladimir Putin. Reactions in Davos ranged from polite applause to outright skepticism, with former UN official Volker Perthes calling the broader proposal “a non-starter.”
Hours after the launch, Trump posted that he had withdrawn an invitation to Canada’s Mark Carney. Washington offered little public explanation; Carney had indicated he might consider joining once details were clear, but his later Davos address was widely read as a critique of rising geopolitical tensions.
Carney’s keynote earned a rare standing ovation. He urged middle powers to cooperate amid what he called “a rupture, not a transition,” arguing that the global order was fracturing and needed a concerted response. His sharp tone and call for collective action prompted strong reaction across the forum. Christine Lagarde, president of the European Central Bank, publicly urged focus on practical alternatives rather than framing current dynamics as a rupture.
Ukraine featured prominently. President Volodymyr Zelenskyy met Trump for about an hour and described the discussion as “productive,” saying they had talked about a US-proposed peace plan and air-defence support. Zelenskyy announced plans for trilateral talks involving US, Ukrainian and Russian representatives to be held in the UAE. In a separate speech, he criticized European leaders for timidity and fragmentation, pressed allies to consider using frozen Russian assets, tighten controls on missile components and present a united response.
Jared Kushner outlined US redevelopment plans for a rebuilt Gaza, presenting a master plan of modern infrastructure and skyscrapers and proposing at least $25 billion in investment. The proposal revived earlier controversies over whether such visions would adequately protect residents’ rights and reflect on-the-ground realities.
Other highlights included Elon Musk’s first Davos appearance, where he predicted rapid advances in AI and suggested humanoid robots could reach the consumer market within a year. Across the forum, delegates were divided: some applauded big-picture initiatives, while many expressed discomfort with the spectacle around Trump and the potential sidelining of established multilateral institutions.
As the week wound down, commentators said the summit had been, in many ways, the “Donald Trump show,” even as Mark Carney emerged as the moral and rhetorical focal point for many attendees. The forum ended less as a corporate conference and more as a geopolitical conclave, dominated by debates over US-led initiatives, contested leadership, and urgent choices on Ukraine and Gaza—questions that delegates said will shape the months ahead.