At this week's World Economic Forum in Davos, European business leaders generally sought to downplay concerns about the prospect of a transatlantic trade war.

US President Donald Trump has repeatedly pledged to impose tariffs on imports from the EU, prompting the EU to warn that it stands ready to respond to additional tariffs "in an appropriate manner".

Speaking to reporters earlier this week, the newly inaugurated US president said the EU was "very, very bad for us. So, they're going to face tariffs. That's the only way... you're going to get fairness." .

His comments come as the Trump administration is also considering imposing an additional 10% tariff on imports from China, possibly starting as early as next month.

For business leaders attending the annual World Economic Forum meeting in Switzerland, reaction to Trump's tariff threats was decidedly mixed.

JPMorgan Chase & Co. CEO Jamie Dimon said on Wednesday that tariffs expected to be imposed by Trump on U.S. trading partners can be viewed positively, declaring that people should "get over it."

Meanwhile, UBS Chief Executive Sergio Ermotti warned that interest rates were unlikely to fall as quickly if U.S. tariffs fueled inflation.

Siemens CEO Roland Busch described the German industrial giant as "tariff-proof" amid concerns about the U.S.-EU trade war.

Asked how tariffs might affect his business, Busch said Siemens is a "global company" that already has a relatively large presence in the United States.

"We're very focused on local-to-local service, and the same goes for other regions, China (and) Europe," Busch said.

Siemens has been expanding its presence in the United States recently, its CEO said, citing the company's roughly $10 billion acquisition of U.S. engineering software company Altair.

"Tariffs, on the other hand, generally increase inflation, so it doesn't really help. So, I think the idea is what can we do, what kind of deal can we have to actually get trade tariffs down to the lowest possible level," Bush said. Xi told CNBC.

"I think free trade and low tariffs are really drivers of growth," he added.

The idea that tariffs will make the world a better place is "at least a new theory for many of us," the chief executive of Danish wind turbine maker Vestas said on Thursday.

Vestas' Henrik Andersen also warned that additional tariffs on imported goods could create inflationary risks.

Asked about the prospect of European trade tariffs and a deteriorating green energy regulatory environment in the United States, the Vestas CEO told CNBC: "I would say, I think, let reason prevail."

sap Chief Executive Officer Christian Klein said on Thursday that U.S. tariffs would not help, stressing the importance of tech companies striking deals with global trading partners.

"I would say that tariffs don't help global trade," Klein told CNBC. "When you look at the dependence between Europe and the U.S., the U.S. and China, I don't think that's a good thing."

SAP's Klein said he has been in Davos with several leaders to discuss how SAP can support them with supply chain and financial software.

"Because, you know, everyone is doing business in China. China certainly wants to continue to do business in the United States. So, for technology, it's more important now to build these bridges, build this resilient supply chain," he added.