President Donald Trump is scheduled to speak at the World Economic Forum on Wednesday, directly addressing an audience nervous about escalating aggression against Greenland, an allied territory.
President Trump’s speech is scheduled to begin at 8:30 a.m. ET. The White House said the speech will be scheduled for a meeting with other world leaders attending a five-day summit in Davos, Switzerland.
President Trump, who faces a tough midterm election cycle centered on concerns about Americans’ cost of living, previously said he would speak at Davos about proposals to make housing more affordable.
But what is already attracting attention is his increasingly belligerent stance toward Europe, as he and his government relentlessly seek to acquire Greenland from Denmark.
President Trump and his aides have not ruled out using the US military in Greenland. And the president recently said he would raise tariffs on a number of key European allies until a deal is reached to sell the Arctic islands.
U.S. markets plunged in early trading following President Trump’s latest tariff threats.
U.S. officials spoke at Davos on Tuesday ahead of Trump’s arrival, seeking to calm concerns about the president’s actions.
“Everyone, please take a deep breath,” Treasury Secretary Scott Bessent told CNBC’s Joe Kernen. “Don’t escalate…President Trump has a strategy. Listen to him and everything will be fine.”
Commerce Secretary Howard Lutnick told CNBC’s “Money Movers” that the U.S.’s “tariff agreements and trade agreements with Europe and the United Kingdom are durable and stable.”
“You can fight with your allies, you can disagree with your allies. That doesn’t preclude you from being an ally or a major trading partner,” Lutnick added.
“We have a lot of meetings scheduled in Greenland, and I think things are going to go pretty well,” Trump said at the White House before leaving for Davos.
Nevertheless, his expansionist push has sparked alarm and anger from both European leaders and the public.
“People are worried, scared and confused,” Greenland’s Business and Mineral Resources Minister Naaja Nathanielsen told CNBC on Tuesday when asked about residents’ reactions to President Trump’s actions.
This assessment is consistent with recent polls showing that Greenlanders overwhelmingly oppose absorption into the United States, and with protests that have taken place in solidarity with Greenland.
Meanwhile, delegations from Greenland and Denmark said they had “fundamental differences” with the Trump administration after meeting with Vice President J.D. Vance and Secretary of State Marco Rubio.
But President Trump, who has long called for Greenland to become part of the United States, has so far refused to take “no” for an answer.
President Trump has argued that Greenland is a vital asset to U.S. national security, given Russia and China’s alleged threats to the Arctic.
Amid geopolitical upheaval, some European allies have increased their military presence in Greenland, drawing the ire of President Trump.
Greenland is an autonomous territory within the Kingdom of Denmark, and Denmark is a member of NATO, Europe’s long-standing military alliance with the United States and Canada. The basis of the alliance is the agreement that an attack on any member state is considered an attack on all members.
Despite this, and despite the fact that the United States already has military bases in Greenland, President Trump insists that only a complete takeover can guarantee security in the region.
“China and Russia want Greenland and there is nothing Denmark can do about it,” Trump wrote on Truth Social on Saturday.
In the same post, President Trump said he would impose tariffs on imports from eight NATO countries, including France and the United Kingdom, in retaliation for the move of troops to Greenland. President Trump wrote that new tariffs would start at 10% next month and rise to 25% in June.
These European countries are currently considering taking large-scale economic countermeasures against the United States.
French President Emmanuel Macron said on Saturday: “The threat of tariffs is unacceptable…If confirmed, European countries will respond in a united and coordinated manner.” “We will ensure that European sovereignty is maintained,” he said.
Since then, President Trump’s view of Macron appears to have worsened.
Asked to respond to reports that Macron would not participate in a so-called peace commission focused on resolving the Gaza conflict, Trump threatened to impose 200% tariffs on French wine.
Trump added: “Nobody wants him because he’s going to leave office soon.”
President Trump also announced that he had invited Russian President Vladimir Putin to the board of directors.
Early Tuesday morning, President Trump shared on social media a screenshot of a text message from President Macron in which he wrote that he did not understand the U.S. leader’s strategy regarding Greenland.
