Stock Market Cuts Through To Trump On Greenland In A Way Allies' Messages Failed To Resonate
HuffPost
Investors may have gotten through to President Donald Trump about his designs for Greenland with a message he wasn’t hearing from European leaders.
DAVOS, Switzerland (AP) — Investors appeared to have gotten through to President Donald Trump about the risk posed by his designs for Greenland with a message he wasn’t hearing from European leaders: Threatening allies with tariffs and land seizure isn’t exactly the type of policy that generates confidence in the global economy.
Trump on Wednesday backed off his threat to slap punishing tariffs on eight European allies for opposing his insistence on acquiring Greenland from longtime ally Denmark after the plan spooked Wall Street by sparking serious talk within NATO about a fundamental rupture to the transatlantic military alliance that’s been a linchpin of post-World War II security.
Markets had seen their biggest losses since October as Trump prepared to travel to Davos, Switzerland, to give a keynote address to leaders and the global elite at the World Economic Forum.
Trump grumbled about what he called a stock market “dip” with some annoyance during the speech, complaining the market gyrations happened despite the U.S. “giving NATO and European nations trillions and trillions of dollars in defense.”
But during that speech, he made his first abrupt shift in position for the day: He took off the table the option of using military force to take over Greenland.
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President Donald Trump's push to control Greenland has sparked major tensions with Europe.
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