Trump cancels Greenland tariffs threat after Nato meeting

The German finance minister said pressure from Europe and possibly also from US politicians and investors worried about a trade war may have influenced Trump on Greenland.

Lars Klingbeil, who is also the deputy chancellor, told ZDF television: “It is important, and I want to emphasise this, that we in Europe have been clear over the last few days, that we have made it clear that these are the sovereign interests of Greenland and also of Denmark. It is clear that we stand in solidarity with them.

“There was growing criticism in the United States, and there was growing criticism from Europe and internationally as well. And I think that also changed something in Donald Trump.

“I think it was the mixture of what was happening in the US, also with clear criticism, and the clear position of the Europeans.”

Klingbeil was also cautious about responding to Trump’s announcement of a deal, adding: “After all the back and forth over the last few days, I really have to wait until I see things in black and white.”

‘Pathetic’ White House stopped me speaking, claims Newsom

Gavin Newsom, the Democratic governor of California and an outspoken critic of President Trump, claimed the White House had blocked him from speaking at a planned event at the World Economic Forum at Davos on Wednesday.

“California was just denied at the USA House. Last we checked, California is part of USA,” Newsom said in an X post. USA House is the official US venue in Davos.

“How weak and pathetic do you have to be to be this scared of a fireside chat?” added Newsom, who has considered seeking the Democratic presidential nomination in 2028.

Newsom’s office blamed pressure from the Trump administration, without providing evidence.

“Under pressure from the White House and State Department, USA House, a church acting as the official US pavilion, is now denying entry to Governor Gavin Newsom to speak with media after Fortune, the official media partner, invited him to speak,” Newsom’s press office said.

General relief over tariff U-turn

Several European leaders and ministers have now expressed their relief over Trump’s decision to lift his tariff threat.

Dick Schoof, prime minister of the Netherlands, wrote on X that it was “positive that the path to de-escalation has been embarked upon and that the 10 per cent import tariffs are off the table.”

Giorgia Meloni, Italy’s prime minister, said: “It is essential to continue fostering dialogue between allied nations.”

Lars Lokke Rasmussen, the Danish foreign minister, posted on X: “The day is ending on a better note than it began.”

He went on: “We welcome that POTUS [Trump] has ruled out to take Greenland by force and paused the trade war. Now, let’s sit down and find out how we can address the American security concerns in the Arctic while respecting the red lines of the KoD [Kingdom of Denmark].”

However, Germany’s finance minister, Lars Klingbeil, warned against premature optimism after Trump said a deal on Greenland was in sight.

“It’s good that they are engaged in dialogue, but we have to wait a bit and not get our hopes up too soon,” Klingbeil told Germany’s ZDF television.

Nato says ‘productive’ talks focused on Arctic security

A Nato official has hailed a “very productive” conversation between Mark Rutte, the secretary-general, and President Trump in Davos on Wednesday.

In a statement, a Nato spokeswoman said the pair discussed the “critical security of the Arctic region to the Allies, including the United States”.

Discussions of the framework for the deal that the president has referred to will focus on the “collective efforts” of the Nato members, especially the seven Arctic allies: the US, Canada, Denmark, Norway, Sweden, Finland and Iceland.

“Negotiations between Denmark, Greenland and the United States will go forward aimed at ensuring that Russia and China never gain a foothold — economically or militarily — in Greenland,” the statement said.

‘Positive messages’ from Trump

Denmark’s foreign minister said that Trump had sent positive signals by saying that he would not use military force to seize Greenland.

“Trump said that he will pause the trade war, he says ‘I will not attack Greenland’, these are positive messages,” Lars Lokke Rasmussen told Danish public television broadcaster DR.

Trump “also had a good conversation with the Nato general secretary”, he said, without going into details.

Putin will join my peace board, says Trump

Trump claims President Putin of Russia has agreed to join his “Board of Peace” — despite Putin saying on Wednesday Russia was still studying the invitation.

“He was invited, he’s accepted. Many people have accepted,” Trump told reporters in Davos. His planned grouping of world leaders, which was originally intended to oversee the recovery of Gaza, seems to have taken on a broader, but as yet undefined, significance for the US president.

Asked about criticism that he is reaching out to non-democratic figures, such as President Lukashenko of Belarus, a close ally of Putin’s who has already agreed to join, Trump said some members were “controversial” but “if I put all babies on the board, it wouldn’t be very much”.

Trump has ‘concept of a deal’ on Greenland

Trump has told the US broadcaster CNBC that his turnaround on imposing tariffs came after reaching a “concept of a deal” with respect to Greenland.

“We have a concept of a deal. I think it’s going to be a very good deal for the United States, also for them,” Trump said. “It’s a little bit complex, but we’ll explain it down the line. But the secretary-general of Nato, and I and some other people were talking.”

EU leaders’ Greenland summit will go ahead

EU leaders will still meet for an emergency summit on Greenland on Thursday, despite President Trump’s announcement suspending his threatened tariffs.

A spokesman for the European Council confirmed the ⁠summit, which is being held ​in Brussels, will begin as scheduled at 6pm UK time.

‘No time limit’ on Trump’s ‘forever’ deal on Greenland

Trump has said the deal on Greenland is “forever” and “gives us everything we needed to get”. He told reporters in Davos: “It’s a deal that everybody’s very happy with”.

“It’s a long-term deal. It’s the ultimate long-term deal, and I think it puts everybody in a really good position, especially as it pertains to security and minerals and anything else,” Trump added.

The US president said there was “no time limit” on the deal.

Trump said he had spoken with other European leaders about the deal, but nothing had yet been signed.

Tories welcome tariffs turnaround

The Conservatives welcomed Trump’s decision to call off the threatened tariffs.

Kemi Badenoch, the leader of the opposition, said: “This will be a relief to businesses who are already facing so many challenges.

“It is also good to hear Trump rule out the use of force in Greenland. Greenland’s future must be decided by its people.”

Andrew Griffith, the shadow business secretary, added: “Tonight’s news from President Trump is welcome. The Conservatives have been clear that these tariffs are the wrong approach for businesses and for the country.

“The government must continue working with the US administration to ensure it holds to its commitments.”

After their worst day since October on Tuesday, US equity markets opened sharply higher after Trump told the World Economic Forum in Davos that he would not use force to take Greenland.

The rally gained further impetus by late afternoon in New York after the president said there was the framework of a deal and that he would not impose extra tariffs on the eight European allies, including the UK, which backed the Danish territory.

With less than an hour of normal trading left the S&P 500, widely regarded as a barometer on the health of corporate America, was 1.5 per cent higher at 6,898.29 while the technology-heavy Nasdaq Composite index was up 1.7 per cent at 23,333.58.

Deja vu as Trump drops tariff threat again

It’s not the first time Trump has threatened tariffs, only to later back away.

In April, after first saying he would slap massive tariffs on nations from around the world — prompting a sharp negative market reaction — Trump eased off. He bristled at suggestions he had chickened out, saying, “It’s called negotiation.”

Trump also moderated what had been aggressive posturing on Greenland on Wednesday, saying he wouldn’t take the territory by force. The US stock market is steadying following those remarks.

Maria Malmer Stenergard, Sweden’s foreign minister, welcomed the withdrawal of the tariffs threat to nations supportive of Greenland and Denmark.

“Good that Trump has now backed away from tariffs on those of us who have supported Denmark and Greenland,” she said on X.

“The demands about moving borders has received well-earned criticism. That is also why we have repeated that we will not be blackmailed. It appears that our work together with allies has had an impact.”

Putin: I could use frozen assets to join Board of Peace

President Putin said he was considering Trump’s offer to join the Board of Peace and suggested that the $1 billion fee to join could be funded by Russian assets frozen by the Biden adminstration.

During a televised government meeting, Putin said he had received a personal message from Trump inviting him to join the board, and that Russia was reviewing the proposal.

“The Russian foreign ministry has been charged with studying the documents that were sent to us and to consult on the topic with our strategic partners,” Putin said. “It is only after that we’ll be able to reply to the invitation.”

He added: “We could, I think, send $1 billion to the Board of Peace from the Russian assets that were frozen during the previous US administration.

“By the way, the rest of the money from our assets frozen in the USA could be used to restore the territory that suffered during combat after the peace agreement between Russia and Ukraine. We’re discussing this with the US administration.”

The Russian leader said he planned to contact Trump’s envoys Steve Witkoff and Jared Kushner on Thursday.

Trump cancels tariffs threat

President Trump cancelled his threat to impose tariffs on allies that do not support his acquisition of Greenland after what he said was a “very productive” meeting with Mark Rutte, the Nato secretary-general.

In a post on Truth Social, Trump said he had “formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region. This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.”

It added: “Additional discussions are being held concerning The Golden Dome as it pertains to Greenland. Further information will be made available as discussions progress. Vice President JD Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff, and various others, as needed, will be responsible for the negotiations — They will report directly to me. Thank you for your attention to this matter!”

He had previously threatened tariffs of 25 per cent on eight European countries, including Britain.

Nato will stand with you, Rutte tells Trump

Mark Rutte, the secretary general of Nato, sought to shore up Trump’s confidence that his allies would stand with him in a crisis.

He also reminded Trump that Nato allies went to Afghanistan to fight on America’s behalf after the 9/11 attacks.

“You can be assured, absolutely, if ever US will be under attack, your allies will be with you,” Rutte told Trump.

Trump said he appreciated the sentiment and hoped it was true.

“I mean, he’s a good man, he’s never lied to me before,” he said in response to a reporter’s question. “I just, you know, when I see what’s happening with Greenland, I wonder.”

Trump will talk to Nato chief about Greenland

Trump said he would meet Mark Rutte, the Nato secretary-general, on Wednesday and would discuss Greenland, after renewing his call to acquire the Danish territory during his speech at Davos.

Taking questions briefly from reporters, the US president was asked if he could see a “reasonable” price to acquire the island.

“I could see that, yeah … I could see that,” Trump responded, before adding: “There’s a bigger price… That’s the price of safety and security and national security and international security.”

He also repeated his claim that the “very expensive” planned air defence system known as the Golden Dome would be improved by installations in Greenland.

“It’s better if we have Greenland than it is without, it’s going to be safer, it’s going to be stronger, it’s going to be better for Europe, and it’s going to be better for us.”

Trump was also asked what the “consequences” would be for Denmark if it did not agree to a deal on Greenland.

“You’ll have to figure that out for yourself,” he said.

Trump ‘didn’t call Greenland Iceland’

Karoline Leavitt, the White House press secretary, has denied Trump mixed up Greenland and Iceland in his speech at Davos.

During his remarks Trump described Greenland as a “piece of ice, cold and poorly located”, and Trump criticised Nato countries for not supporting his claim to the semi-autonomous Danish territory.

“They’re not there for us on Iceland. That I can tell you. Our stock market took the first dip yesterday because of Iceland. So Iceland has already cost us a lot of money,” Trump said.

However when a journalist posted on X to point this out, Leavitt responded to say: “No he didn’t, Libby. [Trump’s] written remarks referred to Greenland as a ‘piece of ice’ because that’s what it is.”

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Enable cookiesAllow cookies onceTrump’s drugs claim is fake news, says France

The Élysée Palace has responded to Trump’s claim that France and other nations have been inflating the price of medicines sold to US, calling it “fake news”.

In a post on X, the French presidency said: “It’s being claimed that President @EmmanuelMacron increased the price of medicines.

“He does not set their prices. They are regulated by the social security system and have, in fact, remained stable. Anyone who has set foot in a French pharmacy knows this.”

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Enable cookiesAllow cookies onceCanada worried about sovereignty

Canada is “concerned” about its own sovereignty, the chair of the national defence committee of Canada has said.

Charles Sousa told Times Radio: “Canada is concerned about its own sovereignty and so we’re doing everything that’s necessary to strengthen our military, invest in the infrastructure in the Arctic, continue to participate in the rule of law throughout that process. But it’s not just border security. It’s also economic security.”

The Canadian MP added: “We are friends with America. We are their largest trading partner. We’re intertwined economically in many respects. So it’s ludicrous to consider that there would be a war between Canada and the United States. That’s not at all the case.

“What is at risk is this leverage, this exemption that is allowed for the countries that are of stronger powers to do things outside the rule of law and we need to continue to enforce that.”

Greenland advice to citizens to be self-sufficient

Greenland’s government unveiled a new brochure on Wednesday offering advice to the population to be self-sufficient for at least five days in the event of a “crisis” in the territory.

President Trump has said he wants the United States to acquire Greenland.

Work on the brochure, titled Prepared for Crises — Be Self-Sufficient for Five Days, began last year “against a backdrop of power outages of varying duration”, according to the Greenland government.

The guidance recommends storing five days’ worth of food, three litres of water per person per day, toilet paper and a battery-powered radio as well as weapons, ammunition and fishing equipment.

The document is “an insurance policy”, said Peter Borg, the territory’s self sufficiency minister, at a press conference in Nuuk, the Greenlandic capital. “We don’t expect to have to use it,” Borg said.

According to a January 2025 poll, 85 per cent of Greenlanders oppose joining the US, with only 6 per cent in favour

Greenland threat ‘not real’, says Newsom

Trump would never seize Greenland by military force, Gavin Newsom has said, as he described the threat as not “real.”

The governor of California, a frequent critic of Trump who is looking at a 2028 presidential run, was seen watching the president’s speech at Davos.

Gavin Newsom speaks to the media in Davos

GIAN EHRENZELLER/EPA

“For a European audience, that may have been a new speech. My God, there wasn’t anything new about that speech for the American audience,” he said.

Referring to Trump’s comment that he would not use military force to claim Greenland for the US, Newsom said: “I don’t think military force was ever real.”

‘We could give US exclusive military rights to Greenland’

Military exclusivity for the US in Greenland could “satisfy basically everyone’s wishes”, the leader of Greenland’s opposition party has said.

Pele Broberg, of the pro-independence Naleraq party, told Times Radio: “We have looked at a solution where we have a free association with Denmark, but with the defence being handled by the United States, where they get the exclusivity with regards to the military.”

He pointed to the Compacts of Free Association agreements between the US and Palau, the Marshall Islands and the Federated States of Micronesia as the basis for possible future talks.

Broberg continued: “Denmark decides which countries’ military can come to Greenland, but with the opposite, with a military exclusivity for the US, they would get the peace of mind that only militaries approved by them can get to Greenland.”

More countries join ‘Board of Peace’

Saudi Arabia, Turkey, Egypt, Jordan, Indonesia, Pakistan and Qatar have accepted invitations to join Trump’s “Board of Peace”, the Saudi foreign ministry said in a joint statement that also included the United Arab Emirates.

The statement added that each country will sign accession documents in accordance with its legal procedures.

Trump has invited dozens of world leaders to join his initiative aimed at resolving global conflicts, although diplomats say the move could harm the work of the United Nations.

President Trump “was trolling everyone”, a former State Department official has claimed.

Karin von Hippel, who is also the former director-general of the Royal United Services Institute, told Times Radio: “It’s good he said ‘I won’t use force’, but I’m not entirely sure I believe that. And it means he will use tariffs, because we’ve already heard from the Danes and the people of Greenland, they don’t want to be bought by the United States.

“He was trolling everyone, including the Swiss hosts. He was trolling Nato partners. He was critical, pretty much, of everybody there.”

Farage says US takeover of Greenland would make world ‘more secure’

Speaking in Davos, Farage suggested the world would be a “more secure place” if America took over Greenland, but also said he believed in sovereignty.

“I have no doubt that the world would be a better, more secure place if a strong America was in Greenland, because of the geopolitics of the High North, because of the retreating ice caps and because of the continued expansionism of Russian icebreakers, of Chinese investment,” he said.

“So yes, would America owning in Greenland be better for the world in terms of safety and stronger for Nato? It would.

“However, if you believe in Brexit, and if you believe in celebrating America’s 250th birthday, if you believe in the nation states and not globalist structures, you believe in sovereignty.

“And if you believe in sovereignty, you believe in the principle of national self-determination.”

He added: “You must respect the rights and views of the Greenlanders because that is what national self-determination is.”

Trump wants Pope on ‘Board of Peace’

The Pope has been invited to join Trump’s “Board of Peace”, Cardinal Pietro Parolin, the Vatican’s top diplomatic official, said on Wednesday.

Leo, the first pope from the US and a critic of some of Trump’s policies, was evaluating the invitation, Parolin said.
“The Pope has received an invitation and we are considering what to do,” he told journalists. “I believe it will be something that requires a bit of time for consideration before giving a response.”

The board was initially aimed at ending the conflict in Gaza, but Trump has said it will have a much broader remit and resolve conflicts globally.

While some countries, such as Israel and Egypt, have accepted the invitation, a number of others have expressed caution with diplomats warning it could harm the work of the United Nations.

The Vatican press office did not immediately respond to a request for comment about Parolin’s remarks.

Greenland statement ‘positive’

Denmark’s foreign minister, Lars Lokke Rasmussen, said Trump’s statement that he would not use force to take Greenland was positive despite the president’s continuing ambitions to acquire the island.

While Trump said he would not use force to take the semi-autonomous Danish territory, he repeated his goal to make the island part of the United States.

Farage: ‘Nato has helped the US’

Farage backed Trump on getting other Nato states to spend more heavily on defence but disagreed with the president’s claim that the defence bloc had never helped the US.

“I would object to that,” said Farage. “When the decision was made to go into Afghanistan, we went in with America and the Coalition of the Willing. We stayed by America for a whole 20 years.

“We proportionately spent the same money as America. We lost the same number of lives as America pro rata. And the same applies actually to Denmark and other countries too. So it’s not quite fair.”

Farage congratulates US on ‘first Brexit’

Nigel Farage is now speaking in Davos at USA House, a former church that has become the hub for members of the US delegation this week (Katy Balls writes).

He began by congratulating the USA on its 250th anniversary this year: “You were the first Brexit in the world.”

The Reform leader then compared the “phenomenal” US economy to those of Britain and the EU.

“If you really are looking at growth at 5 per cent … they’re mind-blowing numbers and our growth in the United Kingdom in Q4 will be 0.2 per cent, maybe 0.3 per cent of 1 per cent if we’re very, very lucky. So America is powering ahead.”

He continued: “At the time of the global financial crisis, the size of the American economy was identical to the size of the Eurozone. Here we are 16 years later and it’s double the size of the Eurozone. So America is getting something right economically but Europe is getting [it] wrong and I think at the centre of this is the debate about energy.”

Zelensky ‘not in Davos’

During his speech, Trump said he would meet President Zelensky later on Wednesday, but the Ukrainian leader’s office said that was not possible, AFP reported.

“The president is in Kyiv,” Zelensky’s adviser Dmytro Lytvyn told journalists. Trump had claimed that Zelensky “might be in the audience right now”.

Main points from Trump’s speech and Q and A

• Trump said he was “seeking immediate negotiations to acquire Greenland” but would not use force.
• The United States “would remember” if other countries did not allow the US to annex Greenland. “You can say yes and we will be very appreciative, or you can say no and we will remember,” he said.
• He insisted Greenland could play “a vital role in world peace and world protection”.
• Questioned the commitment of other Nato countries to the military alliance, saying: “We’re there for Nato 100 per cent, I’m not sure if they’d be there for us.”
• Attacked Britain over its green energy policy.
• Lauded his economic policies in the US.
• Said European countries could be speaking “German” if it was not for the US in the Second World War and said Denmark fell to Germany in “six hours of fighting”.
• Claimed Zelensky and Putin have an “abnormal” hatred of each other but would be “stupid” if they did not sign a peace deal.

Trump said that pollsters have told him he is so popular that George Washington and Abraham Lincoln could not defeat him.

“I was with the 2 best pollsters,” he said, referring to conservative pollsters John McLaughlin and Tony Fabrizio. “They said, ‘Sir, George Washington and Abraham Lincoln, if they came back and ran as president and vice-president, they couldn’t beat you.’”

Trump has now finished his question and answer session

Greenland ‘triumph’ for Europe

Analysis: President Trump hates to take options off the table during a negotiation and his clear statement that he will not use force in Greenland represents a triumph for the united front presented by Nato nations against him (David Charter writes).

Trump announced his climbdown like it was obvious the US would not send its troops into action to seize the Danish territory but he let that hare run for a long time to test the resolve of the Europeans.

The episode is instructive for leaders who have to negotiate with Trump. While he is more prepared than any other president to throw around the considerable weight of the United States, regardless of whether he is dealing with allies or enemies, Trump will respond to forceful, implacable and reasoned opposition.

‘Close’ to Ukraine peace deal

Trump says negotiators are “reasonably close” to finding a peace deal for the war in Ukraine.

He said negotiations have stalled because of the “tremendous, abnormal hatred” between presidents Zelensky and Putin. But he urged them to agree a deal.

“If they don’t get this done, they are stupid, that goes for both of them,” he said.

Trump ended his speech by saying: “The US is back, bigger stronger than ever before.”

He is now taking questions.

• What did Trump say in his Davos speech? From Daddy to Iceland

Somali-Americans ‘bandits’ and ‘low-IQ’

Trump branded Somali-Americans as “bandits” and “low IQ people”.

“The situation in Minnesota reminds us that the West cannot mass-import foreign cultures which have failed to ever build a successful society of their own,” he said.

Trump has sought to link the ongoing immigration crackdown to a widespread fraud scandal in Minnesota, which prosecutors believe may include as much as $9 billion in stolen payments. The vast majority of those charged in connection are American citizens of Somali origin.

Trump’s speech passes 60-minute mark

President Trump’s speech has now passed the one hour mark and shows no signs of slowing down. Gavin Newsom, the governor of California was photographed checking his watch.

LAFARGUE RAPHAEL/ABACA/SHUTTERSTOCK

Trump’s team watch his speech in Davos

JONATHAN ERNST/REUTERS

Trump has also told world leaders that their economies are reliant on the United States.

“The US keeps the whole world afloat,” he said when talking about his global trade policies.

He added: “Most countries don’t even work without support from the United States. And then you have the protection factor.”

He told leaders that “you don’t have threats because of us, and that’s because of Nato”.

Trump turns to domestic issues

Trump has returned to domestic issues and attacked Jerome Powell, the chair of the Federal Reserve, as a “terrible chairman”.

Senior Republicans have expressed concern at a federal probe into Powell, who has faced repeated attacks from Trump.

“We have a terrible chairman now, Jerome ‘too late’ Powell,” Trump said. “He’s always too late and he’s very late with interest rates. Except before the election. He was just fine for the other side.”

‘Biden was the worst president’

Trump said that Biden was “the worst president we’ve ever had, horrible”, as he continued to celebrate the economy under his administration.

“Now grocery prices, energy prices, air fares, mortgage rates, rent and car payments are all coming down, and they’re coming down fast,” he said.

Nato’s strength dependent on America

President Trump has suggested Nato’s strength is dependent on America.

Talking about his plans for the US to annex Greenland, he said: “You can say yes, and we’ll be very appreciative, or you can say no and we will remember.

“A strong and secure America means a strong Nato,” he added

Recounting negotiations over the price of prescription drugs with President Macron, Trump said he liked the French leader, even though its “hard to believe”.

He asked if Macron was in the room, then said: “I like him, I actually like him, it’s hard to believe isn’t it?”

Trump has mistakenly called Greenland “Iceland”.

He said his demand to annex Greenland was a “very small ask”.

“Now what I’m asking for is a piece of ice, cold and poorly located, that can play a vital role in world peace and world protection,” he said. “It’s a very small ask compared to what we have given them for many, many decades.”

Continuing his criticism of Nato, he added: “They’re not there for us on Iceland. That I can tell you. Our stock market took the first dip yesterday because of Iceland. So Iceland has already cost us a lot of money. But that dip is peanuts compared to what it’s gone up.”

Trump said that Europe “called me Daddy”.

Referring to comments by Mark Rutte, the secretary-general of Nato who referred to the president as “Daddy”, Trump said: “I went from running it to being a terrible human being.”

‘Canada should be grateful’

Trump has attacked Mark Carney after the prime minister of Canada’s speech to Davos yesterday.

“Canada gets a lot of freebies from us, they should be grateful also,” he said. “I watched their prime minister yesterday, he wasn’t so grateful. But they should be grateful.

“Canada lives because of the United States, remember that, Mark, next time you make your statements.”

Carney said there had been a “rupture” of the old world order and it wasn’t coming back.

Trump has described the country of Azerbaijan as “Abba-baijan”.

The US president was describing his efforts to resolve conflicts around the world. He said President Putin praised him for ending the war between Armenia and “Abba-baijan”.

“He said, ‘I can’t believe you settled that one it’s been going on for 35 years,’ I settled it in one day.”

‘Europe would be speaking German if not for us’

Trump has said only the US can secure Greenland and told European countries they would be speaking German if it was not for America in the Second World War.

‘I won’t use force’

Trump said he was seeking negotiations to acquire Greenland, but would not use force.

He told the Davos crowd: “I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States, just as we have acquired many other territories throughout our history, as many of the European nations have.

“There’s nothing wrong with it.”

US treated ‘unfairly’ by Nato

FABRICE COFFRINI/AFP/GETTY IMAGES

Trump has said the US annexation of Greenland would “greatly enhance the security” of Nato.
He said the US was “treated very unfairly by Nato”.

“We give so much and we get so little in return,” he said. “The war with Ukraine is an example. We are thousands of miles away, separated by a giant ocean. It’s a war that should have never started.”

‘Europe’s militaries are too small’

Trump said European countries had “much smaller militaries” than in the past and criticised the continent’s political leaders.

He said Europe was suffering from “lower militaries” and “more socially disruptive migration”.

“The US cares greatly about the people of Europe. I am derived from Europe — Scotland and Germany. We believe deeply in the bonds we share with Europe as a civilisation,” he said.

He said European countries have to “get out of the cultures they have created over the last ten years”.

‘Greenland is part of North America’

Trump has said Greenland is “actually part of North America”.

“This enormous unsecured island is actually part of North America,” he said. “That’s our territory.

“It is therefore a core national security interest of the United States of America, in fact it’s been our policy for hundreds of years to prevent outside threats from entering our hemisphere.”

Trump approves new nuclear reactors

The president tells Davos that he’s signed an order directing the approval of “many new nuclear reactors”.

“We’re going heavy into nuclear, I was not a big fan because I didn’t like the risk, the danger,” he says.

“The progress they’ve made with nuclear is unbelievable and the safety progress they’ve made is incredible.”

Trump adds that “we’re very much into the world of nuclear energy, and we can have it now at good prices and very safe”.

US needs ‘big, beautiful piece of ice’

Trump has said he has “tremendous respect” for the people of Greenland and Denmark but that his country needs the “big, beautiful piece of ice” for security reasons.

“No nation is in a position to be able to secure Greenland other than the United States,” the US president said.

He also called Denmark “ungrateful” after the US “saved” the country during the Second World War.

Trump goes after Britain’s energy

Trump criticised Britain’s energy use.

He claimed that, despite being “on top of the North Sea” and being able to boast rich energy resources, “they don’t use it”.

Trump said the UK had “catastrophically low levels of energy” and “high prices”, adding, “They haven’t even found the oil. The North Sea is incredible.”

He said Britain made it “impossible for oil companies” claiming that 92 per cent of revenues was taken from them. “In fact their electricity processes have soared 139 per cent,” he said

‘Venezuela going to do fantastically well’

President Trump praised the future growth of Venezuela after the removal of Maduro by the US this month.

He said: “Venezuela is going to do fantastically well… once the attack ended… they said, ‘Let’s make a deal’.”

He added: “Venezuela is going to make more money in the next six months than it has in the last 20 years,” before claiming that “every major oil company is coming in with us, it’s amazing”.

“It’s a beautiful thing to see and the leadership of the country has been very good. They’ve been very, very smart.”

‘America leading the world — by a lot’

Trump has said America is a world leader in many fields including AI, and is outperforming China.

“We are leading the world in AI by a lot. We lead China by a lot.”

Trump takes swipe at ‘sleepy Joe Biden’

President Trump has criticised Democrats and the “sleepy Joe Biden administration”.

“Many other Western governments very foolishly followed, turning their backs on everything that makes nations rich and powerful and strong,” he said.

“The result was record budget and trade deficits and a growing sovereign deficit, driven by the largest wave of mass migration in human history.

“We’ve never seen anything like it… many parts of our world are being destroyed before our very eyes,” he added. “The leaders don’t even understand what’s happening and the ones that do understand aren’t doing anything about it.”

‘US in midst of most dramatic economic turnaround’

President Trump touted progress on the US economy during his speech.

“The United States is in the midst of the fastest and most dramatic economic turnaround in our country’s history,” he said.

“Under the Biden administration, America was plagued by the nightmare of stagflation … a recipe for misery, failure and decline. But now after just one year of my policies we are witnessing the exact opposite.”

He said it was “conventional wisdom” in European capitals to oversee “ever increasing government spending” and “unchecked mass migration”.

“Certain places in Europe are not recognisable frankly,” he said.

Trump: Europe heading in wrong direction

President Trump criticised European leaders as he warned the continent “was not heading in the right direction”.

“We can argue but there’s no arguing,” he said, adding: “I don’t recognise it and that’s not in a positive way, that’s in a negative way.

“I love Europe but…it’s not heading in the right direction.”

Trump addresses world leaders… ‘and enemies’

Trump has begun his address to world leaders, CEOs and some of the most powerful people in the world.

He opened by saying he was pleased to address “so many respected business leaders, friends… a few enemies”, adding that the US is “in the midst of the fastest and most dramatic economic turnaround in its history” and that “people are very happy with me”.

What’s on Trump’s itinerary for Davos?

The President has several bilateral meetings planned with European leaders during his visit to Davos.

On Thursday, Trump will highlight the US-proposed Gaza “Board of Peace”. The board is part of Trump’s 20-point plan to end the Israel-Hamas war and is expected to temporarily oversee the running of Gaza and manage its reconstruction.

Trump’s address to the summit today is due to begin shortly, however, his meeting with Friedrich Merz, the German chancellor, was cancelled because of flight disruptions.

Trump approval rating plummets

President Trump has the lowest net approval of his second term at minus 19, with 56 per cent disapproval among American voters, according to an Economist poll today.

The poll, coinciding with a year in office, found 61 per cent of Americans think the country is heading in the wrong direction.

In a separate poll, 86 per cent of Americans disapprove of using military force to take possession of Greenland, YouGov found for CBS News. Those in favour of using force include 30 per cent of Republicans, 10 per cent of Independents and 3 per cent of Democrats.

• Read more here: Trump approval rating

How did Trump get to Davos?

Marine One, carrying President Donald Trump to Davos

EVAN VUCCI/AP

Trump made the final leg of the journey to Davos on the Presidential helicopter, Marine One. The aircraft was fully kitted out with missile defence and radar jamming systems, electronics designed to withstand the electromagnetic pulse of a nuclear blast, and equipped with enhanced satellite communication technology.

It was made by Sikorsky, an American manufacturer, and is 17 metres (56 ft) long. The dark green and white helicopter always flies in a group of identical helicopters that serve as a decoy. The aircraft is used when a motorcade could be logistically difficult.

Republicans turn against Trump

A number of Republicans have criticised President Trump’s plans to annex Greenland.

Thom Tillis, the Republican senator from North Carolina, said there was “easily” a majority in Congress to block an invasion of Greenland.

While Lisa Murkowski, the Republican senator from Alaska, called Trump’s threats against Nato allies “deeply troubling”.

Don Bacon, the Republican congressman from Nebraska, said his plan to take over Greenland is “immoral”. Both Tillis and Bacon have announced they are stepping down while Murkowski previously suggested she could leave the GOP and sit as an independent.

However, Ted Cruz, the Republican senator for Texas, defended Trump, saying it is “overwhelmingly in America’s national interest to acquire Greenland”.

President Trump has arrived in Davos and stepped off Marine One on to a red carpet.

Having arrived in Zurich after a disrupted flight, President Trump travelled by helicopter to the site of the World Economic Forum, which is around 70 miles away.

Delegates gather outside the room where President Trump is due to speak

EPA/GIAN EHRENZELLER

President Trump is due to address the summit as planned at 1.30pm (GMT). Delegates are already gathered to get a seat in the room for the President’s speech.

Starmer avoiding a trade war

Sir Keir Starmer has said he is trying to avoid a trade war with the US while standing firm on Greenland.

Asked if the UK would set retaliatory tariffs in response to Trump’s threats to erect further trade barriers over Greenland, the prime minister said protecting the UK’s national interest would come first.

“I’ve made our position clear,” he said. “I’ve set out my principles. I’m not going to yield on those principles but as I said on Monday, of course we need to protect our national interest and we will always protect our national interest.

“But simply hurtling at the first opportunity into a trade war, it’s going to hurt working people and businesses across the country, and that is why I’m working hard to make sure we do not get to that point, and I’ll continue to act in the national interest.”

The European Union should “stop whining” about Trump and address its own weaknesses, Belgium’s prime minister has said.

Bart De Wever, a Eurosceptic who models himself on British Conservatives, has emerged over the past year as a prominent European who speaks frankly and has stood against European Union groupthink.

“I think that Atlanticism is evolving into something different than what we’ve known for 80 years,” he told the VRT state broadcaster.

“I’m an Atlanticist to the core, but the question is whether people on the other side of the Atlantic also think so. An alliance demands a minimum level of respect. We haven’t been getting that lately, to the point where we’re being threatened by an ally with an invasion of Nato territory. So many red lines are crossed that you have to consider it conceivable that Atlanticism would suddenly stop.”

He believes Europe needs to let go of the United States. “We’re already talking about it, but let’s do it now. Let’s stop whining.”

Trump to pitch America First policies in Davos

The Marine One helicopter carrying Trump departs from Zurich airport

CLAUDIO THOMA/EPA

Trump is expected to discuss his America First-based economic policies in Davos today and talk about foreign policy tomorrow, a senior White House official told reporters en route to Switzerland.

The president may also touch on issues involving Greenland and Venezuela as well as his planned Board of Peace and hemispheric domination, the official said. Trump landed in Zurich in the last hour and is proceeding to Davos.

Badenoch ‘incapable’ of rising to national moment, says Starmer

Starmer has appeared to argue that Trump’s Chagos comments are an attempt to force the Greenland issue, rather than a real problem.

He also argued that by backing the US president’s views on Chagos, Badenoch has undermined the government’s attempts to safeguard Greenland.

He told MPs at PMQs: “What he said about Chagos was literally in the same sentence as what he said about Greenland. That was his purpose.”

The prime minister added that “the future of Greenland is a binary issue that is splitting the world at the moment, with material consequences”.

“The leader of the opposition has taken three positions in ten days. Ten days ago, she said Greenland was, in her words, ‘a second order issue’. Four days ago, she said she supported our position on Greenland. Now she is backing arguments intended to undermine our position, Britain’s position on Greenland,” he said.

“This is an important national moment, and yet again, the leader of the opposition has shown she is incapable of rising to it.”

Starmer accuses Trump of using Chagos to put pressure on UK

Starmer has claimed Trump made his Chagos intervention on Tuesday with the “express purpose” of putting pressure on him over Greenland.

Speaking at PMQs, the prime minister said that Trump wants him to “yield” his position on Greenland, adding that he refuses to do so.

Starmer criticised Badenoch for backing Trump’s criticism of the Chagos giveaway deal, saying she was undermining the government.

He said: “I’m surprised the leader of the opposition has jumped on the bandwagon. I had understood her position to be that she supported the government’s position on the future of Greenland. Now she appears to support words by President Trump to undermine the government’s position on the future of Greenland. She’s chosen naked opportunism over the national interest.”

Putin’s war ‘an utter failure’, Finnish president says

President Stubb of Finland has told a meeting in Davos that the Ukraine war “has been an utter, strategic failure of President Putin”.

He said “He increased the size of Nato, he made Ukraine European, he increased the defence budgets of European states, and we are asking ourselves, are we able to defend ourselves? Yes we are.”

Finland which borders Russia, is one of the countries to have joined Nato since Russia invaded Ukraine in 2022.

Listen: Tariffs, Trump and GreenlandStarmer: I will not yield to Trump

Sir Keir Starmer has said he “will not yield” to President Trump over the future of Greenland.

The prime minister accused Trump of using words about the Chagos Islands deal, which were “different from his previous words”, for “the express purpose of putting pressure on me and Britain in relation to my values and principles on the future of Greenland”.

He will host Mette Frederiksen, the Danish premier, on Thursday amid growing criticism of his response to Trump and his absence from the World Economic Forum in Davos.

‘No Kings’ sign greets Trump in Davos

A “No Kings” sign was displayed on a mountain slope overlooking Davos ahead of President Trump’s arrival.

The sign appeared to reference US protests against Trump’s presidency, which drew nearly seven million demonstrators in October, according to organisers.

Protesters, brandishing placards with slogans such as “Democracy not Monarchy”, and “The Constitution is not optional”, swept through major US cities including New York, Washington DC, Chicago, Austin and Miami.

President Trump said at the time: “The demonstrations were very small, very ineffective and the people were whacked out. When you look at those people, they are not representative of the people of our country.”

US commerce secretary heckled in Davos

Howard Lutnick at the World Economic Forum

FABRICE COFFRINI/AFP/GETTY IMAGES

The US commerce secretary was heckled at a World Economic Forum dinner hosted by Blackrock’s Larry Fink on Tuesday night, the Financial Times has reported.

There was uproar after combative remarks from Howard Lutnick, with widespread jeering, guests exiting and appeals for calm from Fink, the report added.

On Tuesday, Lutnick wrote in the FT that: “We’re not going to Davos to uphold the status quo. We’re going to confront it head on.”

He added: “We are here at Davos to make one thing crystal clear: With President Trump, capitalism has a new sheriff in town.”

Air Force One lands in Zurich, Switzerland

ARND WIEGMANN/AP

President Trump has landed in Switzerland for the Davos summit.

His journey was disrupted shortly after take-off on Tuesday night when Air Force One made an unscheduled landing. The aircraft had to turn around and land near Washington because of a “minor electrical issue”.

Karoline Leavitt, the White House press secretary, said the U-turn was made out of an abundance of caution.

A planned bilateral meeting between Trump and Friedrich Merz, the German chancellor, was cancelled because of the American president’s late arrival, a German source has told Reuters.

Miliband defends Starmer over Greenland

Ed Miliband has defended Keir Starmer’s approach to dealing with Donald Trump after the US president criticised the prime minister overnight.

The energy secretary told Times Radio that Starmer is “taking the right approach on this” and has “sought to find common ground” despite the Greenland row.

‘Trump is a three-year-old’

The former German defence minister has likened President Trump’s reaction to not receiving the Nobel peace prize to a “three-year-old whose frisbee has been taken off him”.

Karl-Theodor zu Guttenberg warned Europe not to kowtow to Trump.

He told the Maischberger talk show: “Europe must find itself here, and it must also find the right language, rather than just bowing and scraping at the White House and repeating the same old image, the powerful fox sitting behind his thick desk and everyone else lined up in front of him like on a chicken ladder. That will get us nowhere.”

Guttenberg was the defence minister under Angela Merkel from 2009 until 2011.

He accused Mark Rutte, Nato’s secretary-general, of sycophancy towards Trump, saying he left a “trail of slime” in his dealings with the president.

Celebrities descend on Davos

Will.i.am speaks at the annual meeting of the World Economic Forum, in Davos

MARKUS SCHREIBER/AP

An array of celebrities have been seen in Davos, including Will.i.am, Matt Damon and Sir David Beckham.

Black Eyed Peas star Will.I.Am, who also describes himself as a “creative innovator” and “futurist”, spoke at a session on Wednesday called When Code and Creativity Collide, where he discussed “AI’s intersection with human creativity and the broader implications for authorship and equity”.

Damon attended the conference to promote his water access initiative, Water.org. A lack of access to water is “a massive problem”, Damon said at a dinner on Tuesday night, adding that the problem “disproportionately affects women and girls”.

Matt Damon speaks during a panel at the forum on Wednesday

JAMES SPEAKMAN/PA MEDIA ASSIGNMENTS

Beckham appeared on a podcast on Monday, where he batted away questions about his family’s row with his son Brooklyn.

Katy Perry was also spotted on the arm of her partner Justin Trudeau, the former Canadian prime minister, who spoke at the conference on Tuesday.

US denies Europe will ditch American assets

Scott Bessent, the US treasury secretary, has dismissed claims that European investors could ditch US assets after Trump’s tariff threats.

“This notion that Europeans would be selling US assets came from a single analyst at Deutsche Bank,” Bessent said on the sidelines of the World Economic Forum meeting in Davos.

He said the bank’s chief executive had rejected the analyst’s claim, adding that such fears had been amplified by “the fake news media”.

George Saravelos, the analyst behind the claim, said European countries own US bonds and equities worth $8 trillion.

“In an environment where the geoeconomic stability of the western alliance is being disrupted existentially, it is not clear why Europeans would be as willing to play this part,” the note read.

‘West must invest in AI to stop Chinese dominance’

Western economies must pump more money into AI-technology or risk China dominating the sector, Blackrock’s fund manager has said.

Larry Fink told a panel at the World Economic Forum in Davos: “For Western economies, if we don’t co-operate, if we don’t scale, China wins.

“There’s enough population there. Privacy laws are obviously quite different there, and so the data that they can accumulate, which is giving them a dramatic advantage.”

He also told the panel that there would be some “big failures” among AI firms.However, he said he did not “think we are in a [investment] bubble”.

Fink cofounded Blackrock in 1988, an investment company with over $14 trillion in assets under management.

Nato’s operation in Greenland ‘backfired’

Katy Balls on Times Radio

The deployment of Nato members’ troops to Greenland has “backfired”, The Times’ Washington correspondent has said.

A single British military officer was part of the multilateral operation, with lightly or unarmed personnel from Germany, France, Norway and Sweden, that arrived in Greenland last week.

Katy Balls told Times Radio that “when they sent… such a tiny number [it] backfired in many ways, [it] looked a little bit performative”.

Sources in Washington and diplomatic circles said European leaders “missed a window of opportunity a year ago” to demonstrate Europe’s commitment to Arctic security.

Ball said heads of state may look to leverage Trump’s apparent desire to cement his legacy, and Greenland’s abundant mineral resources, in future negotiations.

Steve Witkoff will meet President Putin on Thursday.

President Trump’s special envoy told CNBC: “Well, look, we have to go meet him on Thursday. But it’s the Russians who are asking for that meeting. I think that’s a significant statement on their part.”

The Kremlin said last week that it was preparing to welcome Witkoff and Jared Kushner, Trump’s son-in-law, to Moscow for peace talks on Ukraine, but that no dates had been set.

President Trump is due to give his address as planned at 1.30pm (GMT) despite delays to his flight overnight.

Trump’s arrival to the Swiss mountain town is running around three hours later than planned after technical difficulties with Air Force 1 that forced the president to take off and re-land late on Tuesday night.

His first in-person speech since 2019 will be given to delegates in the Forum’s Congress hall.

Norway joins growing list rejecting Board of Peace

Norway will not join President Trump’s “Board of Peace”.

Kristoffer Thoner, the Norwegian state secretary, said the “American [peace board] proposal raises a number of questions”, which required “further dialogue with the United States”.

“Norway will therefore not join the proposed arrangements for the Board of Peace, and will therefore not attend a signing ceremony in Davos,” he added.

The announcement comes days after Trump has vented his frustration at Oslo after being snubbed for this year’s Nobel peace prize.

The US administration has asked countries to pay up to $1 billion for a permanent spot on the board, on which Trump will serve as chairman.

Steve Witkoff, US special envoy, claimed twenty to 25 world leaders had already accepted their invitations.

Melania documentary gets Davos platform

The posters for the documentary hang either side of Trump’s presidential portrait

THERESA MÜNCH/AVALON

Film posters for the upcoming Melania Trump documentary have been displayed in the seating area in the US House, the headquarters of the country’s delegation, in Davos.

The documentary claims to offer “unprecedented access” and a behind-the-scenes glimpse at the life of the first lady.

The film, directed by Brett Ratner, will be released in cinemas on January 30. It will be his first since numerous women accused him of sexual misconduct in 2017.

Melania, 55, is an executive producer on the documentary and said it showed the world “what it takes” to serve as the US’s first lady.

‘Chagos Islands will not scupper US negotiations’

Rachel Reeves has denied the Chagos Islands will scupper negotiations with the US.

On Wednesday, Scott Bessent, the US Treasury secretary, said the White House was “let down” by the UK’s Chagos Islands deal and there were some “glitches” in furthering UK-US negotiations.

Reeves, who will not meet Bessent on the sidelines of the forum in Davos, said the agreement over Diego Garcia, which is a US base in the region, was done with the agreement of Marco Rubio, US secretary of state, and President Trump.

France calls for military exercises in Greenland

France has called for a full-scale military exercise in Greenland and is ready to “contribute significant land, air, and maritime assets”.

In the latest escalation by President Macron over Trump’s Greenland threats, the Élysée Palace said France wanted a Nato exercise to reinforce the reason it supported a Danish military presence, codenamed Arctic Endurance, in Greenland.

“This is to show that we take security in the Arctic region seriously and it is inseparable from European security,” a Macron aide said.

The move comes after Macron’s warnings to Trump in Davos yesterday that Europe would stand up to “bullying” over Greenland.

Reeves: Our US deal still stands

Rachel Reeves speaking during the World Economic Forum in Davos yesterday

FABRICE COFFRINI/AFP/GETTY IMAGES

Rachel Reeves said she has received assurances that the US-UK tariff deal still stands.

The chancellor, who is in Davos, said she had spoken to Howard Lutnick, the US commerce secretary, who has made it “clear in private and public” that the UK-US tariff deal agreed last year for a 10 per cent baseline levy had not changed. The US administration had threatened to impose an extra 10 per cent tariff rising to 25 per cent over the UK’s support for Denmark over Greenland.

Rachel Reeves also said the UK would refuse to be “buffeted around” by Washington’s threats of tariffs. She told Sky News: “We’ve got an economic plan, and it is the right one for our country. If other countries want to increase trade barriers, that is their choice, but we are determined to bring trade barriers down.”

She celebrated the UK getting “the first and the best deal” from the Trump administration.

Italy expected to turn down Board of Peace

Italy is expected to turn down President Trump’s invitation to join his Board of Peace, citing the constraints of the Italian constitution.

The Italian constitution allows participation in international organisations only “in conditions of parity with other states”. Ratification of an international agreement would also require the preliminary approval of parliament.

The constitutional impediment protects Giorgia Meloni, the prime minister, from an awkward choice between her political friendship with Trump and loyalty to European allies. She has already publicly declared that Trump’s threat of tariffs against nato allies over Greenland was a mistake.

Italian media said Meloni might opt to attend a first meeting of the Trump board, but only as an observer.

‘We must not lose sight of Ukraine’

Mark Rutte said Nato allies should not allow tensions over Greenland to distract them from the need to defend Ukraine.

“The focus on Ukraine should be the number one priority, it is crucial for European and US security,” Nato’s secretary-general said.

“I am really worried that we lose sight and that in the meantime Ukrainians won’t have enough interceptors to defend themselves.”

Nato secretary silent on Trump

Nato’s Rutte says Trump right about arctic security

Nato’s secretary-general has said he would not publicly comment on the tensions between the United States and its European allies over President Trump’s demand to take over Greenland.

Mark Rutte said at a panel discussion at the World Economic Forum: “You can be assured that I’m working on this issue behind the scenes, but I cannot do it in public.

“President Trump and other leaders are right. We have to do more there. We have to protect the Arctic against Russian and Chinese influence,” he said.

“We are working on that, making sure that collectively we’ll defend the Arctic region.”

Trump’s voice is very important, says Poland

Karol Nawrocki speaks during the World Economic Forum on Wednesday

FABRICE COFFRINI/AFP/GETTY IMAGES

Karol Nawrocki, the president of Poland, has said he is looking at Greenland from the US perspective and Trump’s voice is “very important”.

Sitting on a panel at the World Economic Forum meeting in Davos, he said: “I am looking at the problem of Greenland from their [the US’s] strategic side.”

He said he “appreciated” Danish opposition to US overtures, but said he was looking at the disagreement in terms of broader geopolitical concerns.

“United States of America, for all [the] eastern flank of Nato, are very important ally,” he said.

“I’m looking at Greenland as strategic point and a geopolitical issue between free world, democratic world… [and] Russia,” he added.

US Greenland grab branded an ‘overreach’

The chair of the Bundestag’s foreign affairs committee has said President Trump risked “overreaching” himself on Greenland because the US Congress would likely push back against his plans to seize the island.

Armin Laschet said: “This could be a process in which he overreaches himself because for many of the things that would now be necessary he also needs the support of the Senate and the parliament in the United States.”

For many Republicans, a military annexation of Greenland was out of the question, Laschet added. “So he will also face a lot of problems in his own country.”

The proposed EU-US trade deal is in jeopardy, amid warnings that members of the European parliament could halt its progress.

Brussels struck the accord with President Trump in July, where it accepted the 15 per cent US tariffs without levying their own.

But a majority of MEPs have been preparing to stall the ratification, including Germany’s Manfred Weber who on Saturday wrote on X that “the 0 per cent tariffs on US products must be put on hold.”

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On Tuesday, Iratxe García Pérez, president of the S&D group, a major political group within the European parliament, said there was broad agreement among political factions to suspend the accord.

MEPs were scheduled to meet to discuss the agreement’s implementation this afternoon.

EU ready to respond ‘very quickly’ to Trump

The European Union is ready to “very quickly” impose retaliatory tariffs on the US over Greenland, the EU’s economy commissioner has warned.

Valdis Dombrovskis, Brussels commissioner for the economy and a former prime minister of Latvia, said the bloc had prepared a tariff list worth €93 billion if the White House imposed a 10 per cent levy on six European Union countries, in addition to the UK and Norway.

“We can respond very quickly, because actually, we had been preparing them already last year in a context of previous tariffs introduced by President Trump. In a sense, we put off these retaliatory tariffs after reaching certain agreements with US. But technically it’s ready, so we are actually ready to deploy it very quickly.”

‘We must not be daunted by Trump,’ says Costa

Europeans must not be “daunted” by President Trump and his threats, António Costa has said ahead of an emergency summit of EU leaders tomorrow.

The president of the European Council, convened the crisis meeting after Trump threatened six EU countries with sanctions over Greenland.

“Taken together, the geopolitical challenges Europe is facing sometimes seem daunting,” he told the European parliament.

“But the European Union will come out of this stronger, more resilient and more sovereign.”

He added: “We stand ready to defend ourselves, our member states, our citizens, our companies, against any form of coercion. And the European Union has the power and the tools to do so.”

Sweden rejects Trump’s Board of Peace

Sweden has become the latest European country to reject President Trump’s “Board of Peace” initiative, its prime minister has said.

Speaking to journalists in Davos, Ulf Kristersson confirmed that Sweden would not participate in the board. It joins France, which claimed Trump’s initiative could undermine the United Nations.

China, meanwhile, said it would defend the international system with the United Nations “at its core”, a day after announcing it had been invited to join the board.

Beijing has yet to confirm whether it will accept the invitation, but Guo Jiakun, the foreign ministry spokesman, said China would support a UN-based international world order regardless of “changes”.

Putin has also received an invitation to join the Gaza board.

EU should push for independence, says von der Leyen

The EU should accelerate its push for independence to defend itself in an “increasingly lawless world”, Ursula von der Leyen has said.

“We are at a crossroads. Europe prefers dialogue and solutions but we are fully prepared to act, if necessary, with unity, urgency and determination,” EU Commission president told the European parliament.

“In this increasingly lawless world, Europe needs its own levers of power,” she added.

“We know them: a strong economy, a thriving single market and industrial base, a strong innovation and technology capacity, united societies and above a real capacity to defend ourselves.”

EU ‘stands ready’ to defend itself

Antonio Costa with Ursula von der Leyen in Strasbourg, France, on Wednesday

YVES HERMAN/REUTERS

The European Union has the power to defend itself, the EU Council president has said.

Antonio Costa told the European parliament: “We stand ready to defend ourselves, our member states, our citizens, our companies, against any form of coercion. And the European Union has the power and the tools to do so.

“We cannot accept that the law of the strongest prevails over the rights of the weakest,” he added. “Because international rules are not optional. And alliances cannot just boil down to a sequence of transactions.”

Trump’s tariffs would trim EU growth

President Trump’s proposed 10 per cent tariffs on European allies who oppose a US acquisition of Greenland would trim EU growth by 0.5 per cent, an Austrian National Bank study has found.

Martin Kocher, the governor of the central bank, said: “Using trade policy threats as a means of political pressure increases the risks for the global economy,” and would accelerate inflation in the US.

New world order redefined by ‘raw power’

Ursula von der Leyen addresses the EU parliament in Strasbourg, France, on Wednesday

YVES HERMAN/REUTERS

Ursula von der Leyen has warned that the 27-nation bloc must move faster to boost its economy and defences in the face of a new world order defined by “raw power”.

“We will need a departure from Europe’s traditional caution,” the European Commission president told the bloc’s parliament on Wednesday.

“We now live in a world defined by raw power — whether economic or military, technological or geopolitical,” she added. “And while many of us may not like it, we must deal with the world as it is now.”

Gold rose above $4,800 an ounce for the first time on Wednesday as investors moved into safe-haven assets amid heightened tensions between the US and Europe over Greenland.

The price climbed more than 2 per cent to $4,887.82 an ounce at one stage before easing back slightly. Bullion is usually buoyed by a combination of rising debt, a weakening dollar and geopolitical uncertainty.

The dollar was weaker against a basket of currencies, with the pound up 0.04 per cent to $1.3446. The FTSE 100 was trading flat after a global sell-off yesterday ahead of President Trump’s appearance at the World Economic Forum in Davos.

Denmark is irrelevant, says US Treasury secretary

Scott Bessent at the World Economic Forum in Davos, Switzerland, on Wednesday

MARKUS SCHREIBER/AP

Scott Bessent has dismissed Denmark as “irrelevant” and reiterated that Greenland “needs to be a part of the United States”.

Bessent said he was not concerned that more institutional investors might pull out of the US Treasury market after a Danish pension fund announced yesterday that it would sell off its holding, worth some $100 million, by the end of the month.

“The size of Denmark’s investment in US Treasury bonds, like Denmark itself, is irrelevant,” he said. “It is less than $100 million. They’ve been selling Treasuries for years. I’m not concerned at all.”

He added that America bought the US Virgin Islands from Denmark during the First World War. “I will remind everyone that Denmark remained neutral during World War One,” he added.

‘Conservatives would never sign Chagos deal’

A shadow cabinet minister has said the Conservatives would support breaking the Chagos Islands treaty signed with Mauritius last year.

Alex Burghart, the shadow chancellor of the Duchy of Lancaster, told Times Radio: “I would [break the treaty]. We would. We would restart talks and we would say that this is no longer acceptable to us.

“There are ways in which you can disavow treaties you made. You have to follow a formal process, but it’s possible to do. Technically, this treaty can’t come into force until parliament has agreed it and parliament is yet to agree it.”

He said it was “probably the worst real estate deal in the history of the world”, claiming the Conservatives “would never have signed” it.

US tariffs hurting American consumers

One of the world’s largest hedge fund bosses has said US tariffs are hurting American consumers and businesses, rather than foreign exporters.

Ken Griffin, the chief executive at Citadel and a Republican donor, told the World Economic Forum that US import taxes were “regressive on the American consumer”.

“With all taxes, the question is who pays the tax? It appears … that the incidence is falling on the American consumer and businesses not on foreign producers,” Griffin said.

Research from the Kiel Institute has calculated that 94 per cent of the tariffs are being paid for by US households and importers.

‘Britain must avoid a trade war’

Britain must avoid a trade war with the US, Ed Miliband has said.

The energy secretary said Britain would “seek to bridge the divides” with the US, as President Trump headed to Davos.

Miliband told BBC Radio 4 that it was “not about sweet talking” Trump, but he said: “We seek to find common ground. We seek to bridge the divides, and it is no one’s interest to have a trade war, and that’s what we’ve got to avoid.”

He said: “If what you’re asking me is, should we kind of ratchet up for the temperature? Should we threaten tariffs ourselves? I don’t think that’s the calm and rational way forward.”

Starmer ‘criticised’ for Davos absence

Ed Miliband said Sir Keir Starmer would “engage with President Trump in his own way” amid criticism that the prime minister is not travelling to Davos with other world leaders.

In response to the prime minister’s absence at the World Economic Forum, the energy secretary told BBC Breakfast: “The prime minister spends a lot of his time being criticised for being out of the country, and now you’re saying to me, he should be out of the country more.”

He added: “We need to work on Arctic security, which is what we’re doing with our allies, talking to the US about that, and find a way forward which isn’t about tariffs or trade wars, but is about working together for the security of the Arctic and indeed, to find common ground with the US.”

‘Britain will challenge Trump when necessary’

Ed Miliband on Sky News on Wednesday morning

Ed Miliband has said Britain will challenge President Trump when necessary.

The energy secretary told Sky News: “Now this is a very challenging situation, and we’ve got a principle, which is we seek common ground with Donald Trump, but where we disagree, we say so, and that’s what he said on Greenland.

“But no, I think Keir Starmer’s leadership is absolutely right on this and I think at this stage, it’s about de-escalation and finding a way through this tricky situation.”

Trump’s arrival in Davos delayed

Members of the media deboard Air Force One after returning to Joint Base Andrews

JONATHAN ERNST/REUTERS

President Trump will arrive at Davos about three hours late after an electrical issue on Air Force One forced him to switch planes, Scott Bessent has said.

“I believe President Trump is going to be about three hours late. I haven’t seen the updated schedule,” The Treasury secretary told reporters.

The US president is headed to deliver a speech to the World Economic Forum in the Swiss ski resort. He was scheduled to speak at 1.30pm (GMT).

Starmer praised for ‘calm leadership’ despite Trump

Sir Keir Starmer had shown “calm leadership” in his handling of President Trump, Ed Miliband has said, as he called for “de-escalation” over Greenland.

The energy secretary told Sky News the prime minister was not travelling to the World Economic Forum in Davos as there were “all kinds of other things that he’s doing”.

He said: “The bigger picture here is that the prime minister is, I think, navigating a really difficult international situation with great skill and in our national interest.

“I know some people will want to say, why hasn’t the prime minister been matching Donald Trump tweet-for-tweet, all of that. I honestly say to you, we would be in a much worse position as a country.”

Starmer and Macron told to sort their countries out

President Trump has told the leaders of Britain and France to “straighten out their countries”.

He took aim at President Macron and Sir Keir Starmer at a White House press conference yesterday ahead of his trip to Davos, Switzerland.

“[Starmer and Macron] have got to straighten out their countries,” President Trump said. “London is having a lot of problems and if you look at Paris [it has] a lot of problems.”

He added: “[They] treat me well. They get a little bit rough when … I’m not around, but when I’m around, they treat me very nicely.

“They have two main problems: immigration and energy… the UK has an unbelievable asset called the North Sea. Norway uses it and makes a fortune.”

‘Glitches’ in US-UK trade negotiations

Scott Bessent speaks at the World Economic Forum in Davos, Switzerland, on Wednesday

MARKUS SCHREIBER/AP

Scott Bessent said there have been “glitches” in further negotiations on a trade deal with the UK after the US hit out at the government’s digital taxes, Greenland, and the Chagos Island deal.

The US Treasury secretary said there were no more UK-US trade talks planned after a 10 per cent baseline tariff was agreed last year on most goods.

“The UK got a very low rate [on tariffs]. We are continuing to negotiate but there have been glitches. I’m sure the Starmer government will push forward,” Bessent said.

Britain accused of letting down the US over Chagos

America’s most senior economic official has said the UK “let down” the White House over the Chagos Island deal with Mauritius.

Scott Bessent, the Treasury secretary, told reporters in Davos: “The UK is letting us down on the base on Diego Garica, which we’ve had for many many years. They want to hand it over to Mauritius.”

President Trump is due to address the World Economic Forum after repeating his threats to annex Greenland, stoking tensions with EU leaders.

“President Trump is serious here,” Bessent said, as he warned European leaders against having “reflexive anger and bitterness” at the threat of fresh tariffs on eight EU countries.

“Why don’t they wait to hear what [Trump] has to say. They may be convinced.”

UK defence secretary to meet Danish counterpart

John Healey, arrives for the weekly government cabinet meeting at Downing Street on Tuesday

LEON NEAL/GETTY IMAGES

John Healey, the defence secretary, is travelling to Denmark to discuss Arctic security, as President Trump refuses to back down on his plans to acquire Greenland.

Healey will meet with his Danish counterpart, Troels Lund Poulsen, with talks also expected to cover counter-drone technology and Ukraine.

The Danish prime minister, Mette Frederiksen, has previously said “Europe won’t be blackmailed” by Trump’s tariff threats over Greenland.

Greenland is a semi-autonomous territory of the Kingdom of Denmark — itself a member of the EU and of Nato.

• ‘Greenland not for sale’: protests in Denmark against Trump takeover

‘De-escalation is the preferred path’

Europe will not be divided by anyone, Poland’s finance minister said on Wednesday, but he added that it would be preferable to reduce tensions with the US over tariffs.

“De-escalation is, of course, what would be the preferable path,” Andrzej Domanski told CNBC in Davos. There’s no need for further escalating of this situation, but at the same time, the European response must be firm and, once again, we will not get divided by anyone.”

Netanyahu agrees to join Trump’s Board of Peace

Binyamin Netanyahu, the Israeli prime minister, has accepted the US president’s invitation to join the “Board of Peace”.

Members of the executive board already include Sir Tony Blair, Marco Rubio, the US secretary of state, Steve Witkoff, Trump’s special envoy, and Jared Kushner, Trump’s son-in-law.

A mandate for a Board of Peace was authorised by the UN security council in November, but only to focus on Gaza until 2027. However, the board’s draft charter makes no mention of the conflict in Gaza, and Trump has said that he envisions his nascent project’s reach to be far broader in scope.

Since 2024, the International Criminal Court has a warrant issued for Netanyahu alleging responsibility for the war crime of starvation as a method of warfare and the crimes against humanity of murder, persecution, and other inhumane acts during the war in Gaza.

Countries must pay $1 billion to become “permanent members”, according to reports. More than 60 countries are so far believed to have been invited to join, with President Putin among those considering an offer.

Greenland row ‘has disrupted support for Ukraine’

President Trump’s attempts to seize Greenland have disrupted plans for an economic support package for postwar Ukraine, according to reports.

A planned announcement of an $800 billion (£595 billion) “prosperity plan” has been delayed, the Financial Times reported. The package was agreed upon between Ukraine, Europe, and the US at the World Economic Forum in Davos this week.

Trump’s proposed “Board of Peace” initiative, which has extended an invitation to President Putin of Russia, was also cited as a cause for the delay.

• The strongman’s UN? Trump’s vision for his Board of Peace

Trump scheduled to speak at 1:30pm GMT

The US president was scheduled to speak at the World Economic Forum at 1.30pm GMT (2.30pm local time) today. It is unclear whether the disruption to his journey will see the address rescheduled.

Delegates have already heard from world leaders, who have addressed Trump’s Greenland threats.

Mark Carney, the prime minister of Canada, said: “We stand firmly with Greenland and Denmark and fully support their unique right to determine Greenland’s future.”

Meanwhile, the president of the European Commission, Ursula von der Leyen. called for “European independence” and an “unflinching, united and proportional” response to Trump’s tariff threats.

Ursula von der Leyen addresses delegates in Davos

LAURENT GILLIERON/EPA

President Macron of France warned against a slide to “a world without rules”.

Macron calls for a Nato exercise in Greenland

France has called on Nato to conduct a military exercise in Greenland, President Macron’s office said on Wednesday. Paris is ready to contribute to the operation, according to Reuters.

Last week European allies deployed a small military contingent to Greenland as part of a so-called reconnaissance mission. A single British officer was among the hastily assembled deployment, which included unarmed or lightly armed personnel from Germany, France, Norway and Sweden.

A diplomatic source told The Times that the operation intended to “keep him [Trump] happy” following the president’s vocal concerns around security in the Arctic Circle.

Trump boards backup aircraft

President Trump has now boarded a new aircraft to continue his trip to the World Economic Forum in Davos, about two-and-a-half hours after his initial departure.

This is not the first time Trump has been forced to use a backup aircraft.

The president and the first lady, Melania Trump, were forced to board a support helicopter after the one they were traveling in experienced a hydraulic issue, during September’s UK visit.

The helicopter was forced to land at a local airfield, the White House press secretary, Karoline Leavitt, announced at the time.

Trump’s second term: a visual guide

Record tariffs, ICE arrests and 228 executive orders have meant a turbulent year for the US president. Here’s how he has reshaped America — according to the numbers.

• Read in full: Trump’s second term: a visual guide to a year like no other

Air Force One forced to turn back

Trump’s journey to Davos was disrupted shortly after take-off on Tuesday night when Air Force One made an unscheduled landing.

The aircraft had to turn around and land near Washington because of a “minor electrical issue”.

The White House press secretary Karoline Leavitt said the U-turn was made out of an abundance of caution. A reporter on board said the lights in the press cabin briefly went out after take-off.

Read in full: Air Force One turns back after Trump’s take-off for Switzerland

Members of the media deboard Air Force One after returning to Joint Base Andrews

JONATHAN ERNST/REUTERS

Trump on Greenland: It’s too cold for a golf course

The president sat down for an interview with NewsNation on the anniversary of his 2025 inauguration. He discussed the protests in Iran, domestic unrest in Minnesota and his efforts to acquire Greenland.

Asked about why he wants to own the semi-autonomous Danish territroy, he said: “It’s located in such a place that is literally so important for national security, when you come to Russia, when you come to China. A lot of Chinese boats, Russian military ships.

“Also for the international security for the world.”

He then joked that Greenland, covered with “lots of ice”, would not be used for real estate development and would be too cold for a golf course.

‘Don’t retaliate’, warns US

Scott Bessent, the US Treasury secretary, had a word of warning for European leaders on the eve of his boss’s arrival in Davos: don’t retaliate.

After the president shocked allies at the weekend by threatening them with tariffs for opposing his plan to take over Greenland, Bessent said now was the time for calm.

“I would say this is the same kind of hysteria that we heard on April 2 [when Trump launched his reciprocal tariffs last year]. There was a panic,” he said at the Swiss ski resort hosting the World Economic Forum.

“What I am urging everyone here to do is sit back, take a deep breath, and let things play out. The worst thing countries can do is escalate against the United States.”

Read in full — Katy Balls: World leaders brace for avalanche as Trump heads to Davos

Scott Bessent, US Secretary of the Treasury, during the Annual Meeting of the World Economic Forum

MARKUS SCHREIBER/AP

Tension with Britain and France

Before leaving Washington for Davos on Tuesday, President Trump hit back against both Britain and France after they stood up for Greenland’s right to self-determination.

Trump released private text messages from world leaders including Macron and dismissed his invitation to meet in a G7 format in Paris this week, saying that the French president, whose term ends next year, “is not going to be there very long”.

He also doubled down on his criticism after accusing Britain of an “act of GREAT STUPIDITY” over its deal to transfer the Chagos Islands to Mauritius.

He suggested that this showed the folly of allowing Europeans to decide the future of territories that are strategically important to the US — relating it to his desire to acquire Greenland.

Trump tells Nato: We’ll work something out

President Trump will confront fellow Nato leaders who accuse him of unravelling the global order in Davos today, insisting that “we will work something out” after his threats to seize Greenland shook Europe’s alliance with the United States.

Accused by President Macron of France of creating “a world without rules”, Trump continued his menacing approach when asked how far he was prepared to go to acquire the Danish territory, saying: “You’ll find out.”

Earlier he took another swipe at ­Nato, saying: “Whether you like it or not, it’s only as good as we [the US] are.”

But when asked whether he was prepared to sacrifice Nato for Greenland, he indicated that he was coming to Switzerland to talk about a deal.

Read in full: We’ll work something out, Trump tells Nato