This week in trade starts with two of the major political and economic events of the year, as Washington DC hosts the presidential inauguration of Donald Trump, while the annual World Economic Forum (WEF) meeting also begins in Davos. Later in the week, Canada is set to find out its next leader and the Irish parliament meets to approve its new government.
At the end of the week is International Customs Day, a celebration of all the professionals that work in the world of customs.
There’s also two Chartered Institute of Export & International Trade events this week, with a member-exclusive Lunchtime Learning tomorrow (21 January) on safety and security declarations and a free webinar on the EU’s Digital Product Passport on Thursday (23 January).
Trump inauguration
We start this week with the inauguration of Donald Trump as US president, happening later today (20 January). Trump’s return to the office makes him the first president to serve non-consecutive terms since Grover Cleveland in 1893. He will also be the first convicted criminal and the oldest person ever to serve as president.
Trump is expected to sign a series of executive orders and pardons on his first day in office, including on immigration, Russian foreign policy and pardoning rioters who stormed the capital building on 6 January 2021. He promised to act with “historic speed and strength”.
North American, Asian and European leaders are still waiting for any firm hint on his proposed tariff plan, as well as whether he will announce the repeal of any parts of his predecessor Joe Biden’s legacy.
Davos 2025
Also kicking off today is the annual WEF meeting in Davos. The gathering of elite opinionmakers will meet in the Swiss alpine town to discuss a number of important topics, including AI, growth and technology, under the tagline ‘Industries in the intelligent age’.
The meeting is controversial amongst populists, and several in Trump’s orbit have been critical of the event, which features leaders from the worlds of business, politics and charity. While nothing formal will emerge, Davos is usually a good signal of what leading opinion-makers are thinking, and the themes selected are likely to be in the news cycle for the upcoming year.
World leaders such as Volodymyr Zelenskyy, Ursula von der Leyen and Muhammad Yunus are due to speak.
Trudeau’s replacement
The nominations for the next Canadian prime minister will close this week, as the ruling Liberal Party picks its successor to Justin Trudeau.
Trudeau announced his resignation on 6 January, following reports of cabinet infighting and polling that showed the Liberals might fall to third place in the general election to be held this year.
Former Bank of England governor Mark Carney, deputy PM Chrystia Freeland and minister Karina Gould are among those who have announced they will be running. Currently, the Canadian parliament is prorogued until a new leader is picked, with Trudeau promising a “robust, nationwide, competitive process”, to select his successor.
Other dates for the diary
Monday: Chris Whitty, Jonathan Van-Tam and Jenny Harries give evidence at the Covid inquiry
Tuesday: Paris Menswear Fashionweek begins
Wednesday: Irish parliament meets for the first time this year
Thursday: Oscar nominations announced
Friday: Flash UK Purchasing Manager’s Index
Saturday: Burns Night
Sunday: Australia Day
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