Davos must be used to challenge Donald Trump’s tariff agenda while addressing legitimate trade concerns, says the CEO of one of the world’s largest independent financial advisory and asset management organisations.

The “urgent call-to-action” from deVere Group chief executive Nigel Green, comes as global political and business leaders gather at the World Economic Forum’s Annual Meeting in Davos, Switzerland. 

Those featured include Trump, who returns to the White House next week, German Chancellor Olaf Scholz, and Ukrainian President Volodymyr Zelenskyy. 

While Trump’s agenda is rooted in addressing trade imbalances and protecting domestic industries—concerns that many view as valid—business leaders argue that tariffs are the wrong tool for the job. Instead, they are calling for collaborative, innovative solutions to create fair and sustainable global trade.

Nigel Green, CEO of deVere Group, is among those urging swift and decisive action at Davos. 

“Trump’s concerns about trade deficits and industrial competitiveness are understandable, but tariffs are not the answer.

“They’re a blunt instrument that punishes consumers and disrupts global markets. Davos is the place where smarter, more effective trade policies can be forged.

President-elect Trump has repeatedly justified his tariff proposals as a means to protect American jobs, reduce the trade deficit, and revive domestic manufacturing. 

His plans include a sweeping 25% tariff on Chinese imports, targeting essential goods like electronics, industrial machinery, and consumer products to curb the trade imbalance with China. 

Similarly, his 10% tariff on European auto imports is framed as a way to safeguard US auto workers and address what Trump perceives as an unfair advantage for European manufacturers. 

Additionally, he has proposed extending tariffs on industrial metals, such as steel and aluminium, which he argues are vital for national security and economic independence. 

Trump has also threatened retaliatory tariffs against European nations that impose digital taxes on US tech companies, claiming such policies unfairly target American innovation.

While these policies align with Trump’s ‘America First’ agenda, the deVere Group CEO argues that they are “more likely to harm the global economy than protect domestic interests. Tariffs function as a tax on imports, raising costs for businesses and consumers while triggering retaliatory measures from trade partners.” 

Nigel Green points out that these measures will hurt industries reliant on global supply chains and further inflame geopolitical tensions, all while pushing up inflation. 

“Trump’s tariff strategy might resonate with domestic audiences, but the global economy doesn’t operate in a vacuum.

“These policies risk triggering a trade war that would hurt everyone—especially the middle and working classes which Trump is claiming to protect.”

Davos 2025 provides a critical opportunity to address these challenges while proposing solutions that avoid the damaging consequences of tariffs. 

Business leaders like Nigel Green insist that instead of imposing punitive measures, the world needs multilateral agreements to tackle trade imbalances through negotiation.

A modernised US-China trade agreement, for instance, could include “enforceable commitments on intellectual property protections and market access.” This would address Trump’s concerns without escalating tensions.

Rather than relying on tariffs, “investing in innovation and workforce development is a more effective way to strengthen domestic industries.” 

Research, development, and training programs for sectors like manufacturing and tech would position businesses “to compete globally without disrupting trade flows,” notes the deVere CEO.

Industries critical to the 21st-century economy, such as electric vehicles and renewable energy, must also be shielded from trade disputes. “Tariffs on components like semiconductors or green technologies risk derailing progress in areas vital to global growth.”

Davos also offers a platform for resolving digital trade disputes. A global digital trade pact could “establish clear rules and reduce friction between major economies.”

One of the most immediate risks of Trump’s tariff proposals is inflation. Tariffs increase the cost of imported goods, and businesses often pass those costs on to consumers. 

“A 25% tariff on Chinese imports would drive up the price of everyday items, from smartphones to clothing, directly impacting American households. Tariffs on industrial metals would increase production costs for manufacturers, slowing down production in critical sectors like automotive.”

Meanwhile, retaliatory measures from trading partners such as the European Union and China could deepen the economic damage, disrupting supply chains and reducing market access for US exporters, explains the deVere chief executive.

“Tariffs might seem like a quick fix, but they come with long-term consequences,” affirms Nigel Green. “They fuel inflation, hinder innovation, and ultimately harm the very workers they’re meant to protect.

Under the theme “Collaboration for the Intelligent Age,” Davos 2025 is the ideal venue to redefine global trade policies for the modern era. Digital trade agreements, green trade incentives, and frameworks for emerging markets are among the proposals expected to dominate discussions. 

Nigel Green stresses that these approaches align with the global economy’s interconnected nature and innovation-driven future. “Trade policies need to evolve,” he says. “It’s not about returning to old models—it’s about building systems that reflect today’s realities.”

He concludes: “Trump’s concerns about trade are understandable, but his proposed solutions in the form of tariffs are not. 

“Davos 2025 must seize this moment to forge smarter trade policies that promote collaboration, innovation, and shared prosperity, rather than the divisive and damaging effects of tariffs.”