NEW YORK -- President Trump is flying to Davos, Switzerland, for the World Economic Forum Wednesday night, the first sitting president since Bill Clinton in 2000 to attend the meeting of the world's business elite. His trip comes two days after the administration imposed new tariffs on foreign-made washing machines and solar panels.

South Korea and China are both pushing back on the new tariffs, and are likely to register complaints to the World Trade Organization. But the president and other administration officials will likely underscore their position that "America First" policies will boost U.S. growth, arguing that when the U.S. does well, so does the world.

CBS News White House and senior foreign affairs correspondent Margaret Brennan says that will be a tough sell to attendees. For more than four decades, the World Economic Forum has been a champion of globalization. The annual conference has been seen as an event that fosters an interconnected world.

Jill Schlesinger CBS News

However, Brennan points out the president's business-friendly approach has won him praise. That includes lowering the corporate tax rate to 21 percent. With that, he's expected to urge foreign companies to invest in the U.S., having a private dinner with several CEOs Thursday night.

CBS News business analyst Jill Schlesinger said Mr. Trump "has to walk a fine line" at the conference.

"He's got to deliver a speech that absolutely supports what he's done, but hopefully pulls those nerves down a little bit so there is no reaction, and we don't see any sort of economic repercussions," said Schlesinger. "Essentially, the president is going to say, 'Hey, what's good for the United States economy will in turn be very good for the world economy, you guys should like this.'"