He has also reopened talks on the North American Free Trade Agreement with Canada and Mexico. The decision comes as a surprise to many observers, as he missed last year's gathering of the world economic elite and is a known critic of globalist policies that dominate in the forum.
Last year's attendees included Google co-founder Sergey Brin, British Prime Minister Theresa May and Chinese President Xi Jinping.
The lone attendee from his coterie of advisers past year was hedge fund manager Anthony Scaramucci, who later served briefly as Trump's communications director.
The forum's website says it "aims to rededicate leaders from all walks of life to developing a shared narrative to improve the state of the world", a sharp contrast to Trump's policies.
Trump waves as he walks across the South Lawn of the White House to depart by Marine One, in Washington, DC, USA, 16 June 2017.
Sitting presidents have rarely attended the event, held at a ski resort in the Swiss mountains, fearing its reputation for elitism may not play well politically at home.
At the same time, the bankers and company bosses present in Switzerland will likely welcome the corporate tax cut Trump recently delivered as well as the surging stock market he likes to take credit for.
Steyer Hedges on Democrats
Senate seat now held by Dianne Feinstein (D), but in a Monday interview, Steyer said , "I'm not going to run for anything". His moves opposing the Trump administration have also spurred speculation about a possible presidential run in 2020.