U.S. executives in Davos see a Trump victory in 2024, and no cause for concern

DAVOS, Switzerland — Global business leaders may be in the snowy hills of Switzerland, but their conversations keep returning to Washington, D.C.

The topic of Donald Trump has dominated dinners and parties at Davos, with many in attendance at the World Economic Forum mulling the former president's potential return to the White House after his resounding Iowa caucus victory.

Several business executives have noted a theme to their private discussions during the summit: U.S. industry leaders seem overwhelmingly nonplussed with a second Trump term, while foreign chief executives are terrified — particularly of restrictions on immigration and potential global conflicts.

One prominent U.S. business executive, who asked not to be named because his discussions with foreign leaders were private, said some of the fear may be due to a lack of understanding of the checks and balances built into the U.S. government.

"I'm not sure Europeans understand how weak executive orders are," that person said. "We have a justice system. Congress will probably be divided. It's right to be cautious, but it won't be the end of the world."

Another U.S. bank CEO privately expressed annoyance with media exaggeration of the threat of a Trump presidency, stressing he's "all bark and no bite." The bank chief also dismissed Trump's refusal to accept the results of the 2020 election as bloviation.

"He's going to win the presidency," the CEO predicted. "Many of his policies were right."

While JPMorgan Chase CEO Jamie Dimon wouldn't predict a Trump victory, he echoed his fellow bank CEO's comments in an interview with CNBC's "Squawk Box" on Wednesday.

"Just take a step back, and be honest. He was kind of right about NATO. He was kind of right about immigration, he