Davos 2025 live updates: Trump set to address WEF; Germany’s finance minister calls for ‘debt brake’ reform

LONDON — Welcome to CNBC’s live blog covering Day 4 of the World Economic Forum in Davos, Switzerland. We’ll bring you all the latest news, views and action from WEF throughout the day.

Germany’s Finance Minister Jörg Kukies said Thursday it was critical that his country “embarks on a path of economic growth,” telling CNBC that structural weaknesses in the economy must be combatted.

He also called for some “targeted reforms” to Germany’s so-called debt brake, a rule that limits how much debt the government can take on.

NATO’s Secretary-General Mark Rutte praised U.S. President Donald Trump’s warning on Wednesday that Russia could expect more tariffs and sanctions if it did not cease its war in Ukraine.

“I was very, very happy with the position of Trump to put more sanctions on Russia. We know that the Russian economy is doing terribly bad[ly], and the sanctions will help,” he told CNBC.

The comments come ahead of the big event of the day Thursday — Trump’s keynote address due this afternoon. The newly inaugurated president is due to address WEF via video link at 5 p.m. Davos time.

The world will be listening closely for any details on his pledge to introduce universal tariffs on goods imported to the U.S., and for his position on major geopolitical and economic issues such as the Ukraine-Russia war, the future of Israeli-Palestinian relations and America’s economic rivalry with China.

Other high-profile figures due to speak on Thursday include Javier Milei, the president of Argentina, who’s addressing delegates at 10:15 a.m. local time.

CNBC guest highlights NATO Secretary General Mark Rutte, and Mathias Cormann, the secretary-general of the OECD. We’ll also speak to the CEOs of Vestas, Schneider Electric, Siemens, Rio Tinto, Carlsberg and SAP.