Treasury Secretary Steve Mnuchin on Thursday insisted that a gathering of global bigwigs was not "a hangout for globalists".
The two leaders also spoke over phone ahead of their Davos meeting.
Secretary of State Rex Tillerson, Commerce Secretary Wilbur Ross and U.S. Trade Representative Robert Lighthizer will be part of the delegation, the White House announced.
During the call, Trump underscored that Iran must stop its "destabilizing activity" in the region.?
The president's son-in-law and senior adviser Jared Kushner, National Economic Council director Gary Cohn, chief of staff John Kelly and National Security Adviser H.R. McMaster also will attend the World Economic Forum the week of January 22 as part of the delegation.
Trump will be the first American president to attend the Davos World Economic Forum since former President Bill Clinton.
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The U.S. and other world powers want North Korea to abandon its nuclear weapons program. "No one would now think the North could lob nuclear bombs over the heads of its own athletes".
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The president told the Wall Street Journal that he wants to be a "cheerleader" for the American economic success story in the first year of his administration.
"But with the surprise announcement this week that Trump is attending this year's January 22-26 meet, Swiss authorities expect demonstrations across the country".
"We're thrilled the president is coming".
Later in a statement, White House Press Secretary Sarah Sanders said the official delegation would also include Chief of Staff John Kelly, National Security Adviser HR McMaster, and Director of the National Economic Council Gary Cohn.
Mnuchin said that Trump would talk about "reciprocal, free, and fair trade" at the summit. "We have obviously been very clear with the Chinese on the issue that we have with the trade deficit and making sure that USA companies can compete fairly".
"I don't think it's a hangout for globalists", Mnuchin said, using a term popularized by the nationalist wing of the Republican Party.