Trump Davos Speech Touts $175B 'Golden Dome' Missile Defense and Says Canada 'Lives Because of the United States'
At Davos, on his third trip to the World Economic Forum, President Trump touted a U.S.‑built "Golden Dome" missile‑defense system he said would defend Canada, urged Ottawa to join and pay its share — a White House cost estimate of roughly $175 billion (the CBO has put the space‑based interceptor component between $161 billion and $542 billion over 20 years) — and told Canadian Prime Minister Mark Carney to "remember" that "Canada lives because of the United States." His speech, which also attacked Europe's direction on migration and spending, played into a larger WEF agenda (theme: "A spirit of dialogue") that featured EU and Chinese leaders as counterweights and drew sharp criticism from figures like California Gov. Gavin Newsom, who accused foreign leaders of "rolling over" for Trump and likened his diplomacy to a "T‑Rex."
📌 Key Facts
- President Trump is attending Davos for a third time as president and is expected to loom large over the 2026 World Economic Forum, whose theme is “A spirit of dialogue” and whose agenda includes inequality, AI’s impact on jobs, tariffs and eroding trust between countries; EU Commission President Ursula von der Leyen and China’s Vice Premier He Lifeng are scheduled to speak on the opening day as counterweights to Trump.
- This is the first Davos without founder Klaus Schwab in charge; new WEF co‑chairs include BlackRock CEO Larry Fink and Roche vice chair André Hoffmann, and Nvidia CEO Jensen Huang is making a first‑time appearance.
- At the Davos plenary Trump said the U.S. is “building a Golden Dome” missile‑defense system that, “by its very nature,” will defend Canada; from the stage he directly challenged Canadian Prime Minister Mark Carney, saying Canada “lives because of the United States” and “should be grateful.”
- Treasury Secretary Scott Bessent told CNBC at Davos the administration has invited Canada to participate in the Golden Dome and pay its share, and the White House has put the system’s cost around $175 billion.
- The Congressional Budget Office previously estimated the space‑based interceptor portion of the Golden Dome program could cost between $161 billion and $542 billion over 20 years, indicating substantially higher potential long‑term costs.
- In his Davos speech, Carney warned that great powers are using economic and security leverage to coerce allies, urged middle powers like Canada to diversify and defend their sovereignty, and reaffirmed support for Greenland and Denmark’s right to determine Greenland’s future—signaling opposition to Trump’s pressure on Greenland.
- Trump criticized Europe at Davos as “not heading in the right direction,” framed past Western policy around increasing government spending, unchecked migration and foreign imports, and said energy, trade, immigration and growth must be central to a united West; he has announced tariffs (10% on eight European countries beginning Feb. 1, rising to 25% June 1 absent a Greenland deal), heightening tensions with NATO allies.
- California Gov. Gavin Newsom used Davos to criticize European leaders for “rolling over” to Trump—likening Trump’s diplomacy to a “T‑Rex,” calling some leaders “pathetic,” and saying markets may be the only force to shift Trump’s Greenland/tariff course—remarks that, along with his high‑profile Davos presence, reinforce expectations he may be positioning for a 2028 presidential run.
📰 Source Timeline (6)
Follow how coverage of this story developed over time
January 21, 2026
4:17 PM
Trump challenges Carney at Davos, asserts Canada should be 'grateful' for Golden Dome missile defense
New information:
- Trump told Davos attendees the U.S. is "building a Golden Dome" missile‑defense system that "by its very nature" will defend Canada and said Canada "gets a lot of freebies from us" and "should be grateful" but is not.
- He directly called out Canadian Prime Minister Mark Carney from the stage, telling him to "remember" that "Canada lives because of the United States" the next time Carney makes public statements.
- Treasury Secretary Scott Bessent said in a Davos CNBC interview that the administration has invited Ottawa to participate in the Golden Dome and pay its share, and the White House puts the system’s cost around $175 billion.
- The Congressional Budget Office previously estimated the space‑based interceptor portion of Golden Dome could cost between $161 billion and $542 billion over 20 years.
- Carney’s Davos speech warned that great powers are using economic and security leverage to coerce allies, urged 'middle powers' like Canada to diversify and defend sovereignty, and reaffirmed support for Greenland and Denmark’s right to determine Greenland’s future, signaling opposition to Trump’s Greenland pressure.
2:21 PM
Trump rips Europe at Davos for wrong 'direction,’ points to migration and spending
New information:
- Trump told the Davos plenary he no longer 'recognizes' Europe in a 'very negative way' and said it is 'not heading in the right direction.'
- He framed past Western economic policy as built on 'ever increasing government spending, unchecked mass migration, and endless foreign imports.'
- He said energy, trade, immigration and economic growth must now be 'central concerns to anyone who wants to see a strong and united West.'
12:18 PM
Newsom at Davos: Western alliance is "dormant, not dead"
New information:
- Newsom, speaking at Davos, told Axios the Western alliance is 'dormant, not dead' and said he is in Davos to present a different U.S. vision than Trump’s.
- He predicted that financial markets will be the only force likely to push Trump off his current Greenland and tariff course, citing a sell-off in U.S. assets after Trump threatened tariffs tied to acquiring Greenland.
- Newsom reiterated and elaborated on his criticism of European leaders, accusing them of being 'complicit,' 'rolling over' to Trump, and saying he 'should've brought a bunch of knee pads for all the world leaders,' while describing Trump as a 'T-Rex' who either 'mates with you or devours you.'
- Axios notes that Newsom’s high-profile Davos presence and foreign-policy rhetoric reinforce expectations he is positioning for a 2028 presidential run.
January 20, 2026
10:35 PM
Newsom warns ‘pathetic’ foreign leaders to grow a backbone in bizarre takedown likening Trump to a T.rex
New information:
- Newsom, at Davos, said foreign leaders are 'rolling over' for Trump and that he 'should have brought a bunch of kneepads for all the world leaders,' calling their behavior 'pathetic.'
- He attacked María Corina Machado’s highly controversial gesture of presenting her Nobel Peace Prize medal to Trump, saying Nobel Prizes 'are being given away' and calling it embarrassing from an American perspective.
- Newsom likened Trump’s diplomacy to a 'T‑Rex' that either mates with leaders or devours them, warning Europeans they could be 'devoured' if they don’t 'stand tall, stand firm, stand united' against his Greenland‑plus‑tariffs strategy.
- The piece reiterates that Trump has announced 10% tariffs on eight European countries starting Feb. 1, rising to 25% June 1 absent a Greenland deal, deepening tensions with NATO allies.
January 19, 2026
4:49 PM
Davos' elite World Economic Forum set to open with pro-business Trump set to attend and inequality on the rise
New information:
- Confirms Trump will make his third visit to Davos as president and is expected to loom large over the 2026 World Economic Forum meeting.
- Details this year’s WEF theme as “A spirit of dialogue” and notes the agenda includes inequality, AI’s impact on jobs, tariffs and eroding trust between countries.
- Specifies that EU Commission President Ursula von der Leyen and China’s Vice Premier He Lifeng will speak on the opening day, positioning them as counterweights to Trump’s agenda.
- Notes that Iranian Foreign Minister Abbas Araghchi’s planned appearance was canceled by WEF organizers due to Iran’s protest crackdown and 'tragic loss of civilian lives.'
- Reports this is the first Davos without founder Klaus Schwab in charge, with new co‑chairs including BlackRock CEO Larry Fink and Roche vice chair Andre Hoffman, and highlights Nvidia CEO Jensen Huang’s first‑time appearance.