At the 2023 World Economic Forum annual meeting in Davos, speculation about whether Donald Trump could be reelected U.S. president in 2024 is a hot topic of discussion. Though not attending this year, Trump's potential return to the White House weighs on the minds of attendees.
Trump recently won the Iowa Republican caucuses by a wide margin, showing his continued political strength. He currently leads the Republican field, making a Trump vs Biden rematch in 2024 likely.
Some business leaders in Davos are already preparing contingency plans in case of a Trump reelection. The CEO of Japanese company Suntory said under Trump, trade issues could again become serious. Suntory is shifting more resources to U.S. operations as preparation.
There is uncertainty around how Trump would approach relations with China compared to Biden's attempts at slight reengagement. Attendees also discussed concerns around the U.S. debt and deficit situation, which could be impacted by the next administration.
In general, Trump’s potential reelection and its implications appear to be a frequent conversation piece among Davos participants this year, despite the former president not attending himself.