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🇨🇭 Good Monday morning from newly snowy Davos, in the Swiss Alps, where President Trump is to address global elite later this week, depending on the shutdown.

  • When you register, you get complimentary snow cleats for your heels.

The Financial Times' Gideon Rachman says Trump's speech will be the World Economic Forum centerpiece ("Trump calls the tune at Davos party"): "If he can persuade the ... audience that all he is doing is demanding a level playing field, he might get a positive reception."

  • Former Treasury Secretary Larry Summers writes in the FT that Trump can make "a nervous world ... a bit less nervous" if he sends "clear signals that the U.S. will strive to be a reliable and predictable partner."

Thanks for reading. See you all day in the Axios stream ...