Trump's potential return to the White House is dominating the chat at Davos

DAVOS, Switzerland ꟷ Donald Trump is not among the attendees at this year's edition of the World Economic Forum in Davos, but his potential reelection as president of the United States is very much part of the conversation at the Swiss Alpine resort.

"Every question I've gotten as I've walked up and down the [Davos] Promenade today is, 'is he coming back?'," Tim Adams, president of the Institute of International Finance, told CNBC Tuesday.

"So, I think there is a lot of interest in that question and what does that mean, and who would be in the key positions," he added.

Trump won the Iowa caucuses earlier this week, setting a new record for victory margins at the meetings. Florida Gov. Ron DeSantis came in a distant second, followed by former South Carolina Gov. Nikki Haley.

The Iowa vote was seen as the first big test in the Republican campaign ahead of the 2024 presidential election. With Trump leading the Republican pack so far, the November election is likely to be another runoff between the former president and Democratic incumbent Joe Biden.

Some Davos participants are already preparing their business for a potential Republican leader in the White House.

"Considering what happened when President Trump was in office, his main interest is trade. So we have to expect trade issues will be very serious," Takeshi Niinami, the CEO of the Japanese drinks maker Suntory, told CNBC Wednesday.

He added that his company is allocating more resources to their operations in the United States so they can protect themselves against any trade disputes.

"We have to produce locally, especially in the United States ... We have scenarios to be able to respond to that leadership change," he added. The United States is one of the main markets for