Donald Trump is expected to meet global business leaders in Davos on Wednesday, sources familiar with the matter said, as the US president's presence looms large over the annual gathering of the global elite in Switzerland.

Business leaders, including CEOs in financial services, crypto and consulting, were invited to a reception after Trump’s address to the World Economic Forum's annual meeting, the sources told Reuters on Monday. The agenda was unclear.

One CEO simply had "a reception in honour of President Donald J Trump" scheduled in their diary, while another said their understanding was that global CEOs had been invited, not just those from the United States. One of the sources said the invitations had come from the White House.

Anthony Scaramucci, an investor who briefly served as Trump's communications director during his first term, said he knew the meeting was happening.

"I'm not going. I'm not sure I'm invited, but even if I were, I wouldn't want to be a side show," Scaramucci said.

Trump is expected to arrive on Wednesday in the Swiss mountain resort, where he is due to deliver a special address.

Several top US officials, including Treasury Secretary Scott Bessent, are also accompanying Trump.

China, meanwhile, is being represented in Davos by Vice Premier He Lifeng who is due to deliver a special address on Tuesday. He will also host a reception with CEOs and founders of global companies, a source told Reuters.

China's Ministry of Foreign Affairs did not immediately respond to a request for comment outside of business hours.

'Everyone should take the president at his word'

The WEF agenda has to some extent been overtaken by the US president's dramatic policy moves, including his demand in recent days that the United States take over Greenland.

WEF organisers have said that over 3,000 delegates from more than 130 countries will attend this year, including 64 heads of state and government, particularly from emerging economies.

The list also includes several heads of G7 nations, with changes in US policy under Trump in focus.

Russian President Vladimir Putin's special envoy Kirill Dmitriev will also travel to Davos and hold meetings with members of the US delegation, two sources with knowledge of the visit told Reuters on condition of anonymity.

Meanwhile, national security advisers from a number of countries are due to meet on the sidelines of the event on Monday, with Greenland among the subjects on the agenda, diplomatic sources said.

Also Read: PM Sharif departs for Switzerland to attend World Economic Forum

One European diplomat, who spoke on condition of anonymity, said Greenland had been added to the agenda of the previously scheduled meeting after Trump on Saturday to impose extra tariffs on eight European countries until the US is allowed to buy the Arctic island.

Bessent said European governments should not retaliate against any measures taken by the US in their dispute.

"I think it would be very unwise," Bessent told reporters when asked about retaliatory trade measures on the sidelines of the WEF meeting, adding that Europe should not doubt Trump's intentions over Greenland.

"I've been travelling, so I haven't been in touch (with European officials), but I spoke to President Trump and evidently there are a lot of inbounds, and I think everyone should take the president at his word," Bessent said.

Jenny Johnson, CEO of asset manager Franklin Templeton, said Trump's moves were negotiating tactics that can feel uncomfortable, but appeared to be in US interests.

"We all know his style. His style is, 'I'm going to come out with a hammer, and then I'll negotiate with you,'" Johnson told Reuters in an interview.

"But his instinct about trying to figure out longer-term positions for the US is the right instinct," she added.