In brief
President Trump has reversed his earlier threats of tariffs against European countries opposing the U.S. acquisition of Greenland. This decision came after what he termed a 'very productive meeting' with NATO Secretary General Mark Rutte. Trump emphasized that more details would emerge as negotiations progress, and he dismissed the notion of a lease for Greenland, underscoring his desire for ownership due to the territory's strategic resources, particularly its rare earth minerals.
President Donald Trump has said he no longer plans to impose tariffs on European countries that had opposed his ambitions for the US to acquire Greenland.
In a social media post, Trump said his decision followed a very productive meeting with NATO Secretary General Mark Rutte.
This solution, if consummated, will be a great one for the United States of America, and all NATO Nations, he wrote.
Trump told CNBC that the deal, which he said would last forever, could involve mineral rights and the planned Golden Dome missile defence system.
Announcing his decision on Truth Social, Trump said more information would be made available as discussions progress.
Trump had previously dismissed the idea of a lease agreement, saying that you defend ownership. You don't defend leases.
It also remains unclear what role rare earth minerals could play. Greenland has vast - and largely untapped - reserves, many of which are crucial for technologies including mobile phones and electric vehicles.
Trump had planned to place a 10% tariff on any and all goods sent from the UK to the US from 1 February, increasing to 25% from June, until a deal is reached for Washington to purchase Greenland from Denmark.
Under existing agreements with Denmark, the US has the power to bring as many troops as it wants to Greenland. Trump suggested he would not be receptive to any agreements on the US use of Greenland that fall short of full ownership.
In his speech at Davos, French President Emmanuel Macron criticized Trump's previous threat of tariffs, calling it fundamentally unacceptable. Trump retaliated by accusing Macron of being ungrateful and warned about the importance of negotiating drug prices.
