President Donald Trump on Wednesday kept up his crusade demanding Greenland for the United States in a highly-anticipated speech at the World Economic Forum, saying that he’s seeking "immediate negotiations" to settle its status. The Danish government, long responsible for overseeing Greenland’s foreign affairs, has previously stated that ceding control isn’t up for discussion.
Trump devoted much of his highly-anticipated address in Davos, Switzerland to cobbling together a case for acquiring the territory after several days of lobbing tariff threats at Europe. Trump blew up an interim trade accord with the European Union in the process, rattling financial markets.
“I love Europe and I want to see Europe go good, but it’s not heading in the right direction," Trump said in a speech…
President Donald Trump on Wednesday kept up his crusade demanding Greenland for the United States in a highly-anticipated speech at the World Economic Forum, saying that he’s seeking "immediate negotiations" to settle its status. The Danish government, long responsible for overseeing Greenland’s foreign affairs, has previously stated that ceding control isn’t up for discussion.
Trump devoted much of his highly-anticipated address in Davos, Switzerland to cobbling together a case for acquiring the territory after several days of lobbing tariff threats at Europe. Trump blew up an interim trade accord with the European Union in the process, rattling financial markets.
“I love Europe and I want to see Europe go good, but it’s not heading in the right direction," Trump said in a speech stretching for just over an hour, during which he twice confused Greenland with Iceland.
On Greenland, he argued that the U.S. was mistaken in withdrawing U.S. soldiers from the territory following the end of World War II. Germany defeated and occupied Denmark in 1940, and the U.S. stepped in to defend Greenland.
Trump believes only the U.S. can secure it from adversaries like Russia and China. He wants "immediate negotiations" on Greenland’s future.
"We need Greenland for strategic national security and international security. This enormous, unsecured island is actually part of North America on the northern frontier of the Western hemisphere," Trump said. "That’s our territory."
Prior to the speech, Trump and his top aides hadn’t ruled out using military force to seize Greenland, raising fears that the U.S. could single-handedly tear apart the North American Treaty Organization (NATO) — the collective Western military alliance.
“We probably won’t get anything unless I decide to use excessive strength and force where we would be, frankly, unstoppable,” Trump said. “But I won’t do that... I don’t want to use force. I won’t use force. All the United States is asking for is a place called Greenland.”
The Danish Embassy in Washington D.C. did not immediately respond to a request for comment.
Financial markets opened higher on Wednesday morning after the prior day’s big sell-off. The Dow Jones Industrial Average climbed 365 points, or close to 1%. The S&P 500 recovered 50 points, or 1% as well.
Trump on the Fed and domestic affairs
On the domestic front, the president hinted that he’d announce his new pick to replace Federal Reserve Jerome Powell "in the not-too-distant future."
"I think he’ll do a very good job," Trump said. "They’re all respected. They’re all great. Everyone that I interviewed is great."
The four finalists to lead the central bank include Kevin Hassett, a White House economic aide; Kevin Warsh, a former Fed governor; Christopher Waller, a current Fed governor; and Rick Rieder, a Blackrock executive. Trump signaled he may keep Hassett in his current post, now that the Fed is dealing with a criminal probe from the Department of Justice threatening its longstanding independence.
Trump also touted a new measure to bar Wall Street firms from buying single-family homes. An executive order released Tuesday mandates Treasury Secretary Scott Bessent to define "large institutional investors" within 30 days and for the administration to "prioritize enforcement of antitrust laws."