There will no doubt be a Trump-sized elephant in the rooms at the World Economic Forum (WEF) in the Swiss Alpine resort even if some leaders avoid saying his name -- although the man will speak himself by video link on Thursday.
Trump returned to the White House on Monday, bringing with him a more protectionist administration and fears he will deliver on promises to slap heavy tariffs on China and US allies including Canada and the European Union.
In his inaugural address, he vowed Washington will "tariff and tax foreign countries".
European Commission President Ursula von der Leyen will kick the day off.
She appeared to give a taste of what to expect, defending the "need to work together to avoid a global race to the bottom" and wanting to "forge new partnerships" in a post on X as she arrived in Davos.
- China, Ukraine -
China's Vice Premier Ding Xuexiang -- also a member of the Chinese Communist Party's apex of power that rules the country -- will speak immediately after von der Leyen.
China is taking a cautious approach to Trump. After Chinese President Xi Jinping's conversation with Trump by phone on Friday, he said he hoped for a "good start" to relations with the new administration.
Although Trump said he would undertake sweeping trade penalties against China, he has also indicated he wants to improve ties -- and even stepped in to reverse a US ban of Chinese-owned social media platform TikTok on national security grounds.
Ukraine meanwhile is keeping a very close eye on what Trump's second mandate will involve.
Ukrainian President Volodymyr Zelensky is expected to call on world leaders and company executives to maintain -- and even ramp up -- their support for his country's fight against Russia.
Zelensky on Monday said he is hopeful Trump will help achieve a "just peace".
- European 'struggle' -
Europeans are set to dominate the WEF's key speeches on Tuesday.
Embattled German Chancellor Olaf Scholz will address the forum, likely his last as leader ahead of elections next month. Also speaking on Tuesday will be conservative leader Friedrich Merz, the favourite to succeed him as chancellor.
Europeans are fretting the most about Trump's return while countries from Brazil to China and India to Turkey believe he will be good for their countries and global peace, according to a survey last week from the European Council on Foreign Relations (ECFR).
The report accompanying the survey of over 28,500 people across 24 countries serves as a warning for European leaders to act cautiously.
"Europeans will struggle to find internal unity or global power in leading an outright resistance to the new administration," the ECFR report's authors said.
- 'Better understand' Trump -
Middle East conflicts will also be high on the agenda as Israeli President Isaac Herzog and Qatari Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani speak in separate sessions during the first full day of the forum.
As a fragile ceasefire holds in the Israel-Hamas war, the forum will host a discussion on how to improve aid delivery to the Palestinian territory of Gaza and how to kickstart the reconstruction and recovery after heavy bombardment.
South African President Cyril Ramaphosa will also deliver a special address on Tuesday, as the continent's most industrialised country shows it is open for business.
Despite suggestions Trump's return would overshadow the forum that began on the same day as his inauguration in Washington, WEF President Borge Brende said the president had brought fresh interest to the gathering.
"It has increased the interest in Davos because people feel they need to come together to better understand what's on its way," Brende told AFP in an interview.
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