Recently, at the World Economic Forum, President Trump stated that he would not use military force to acquire Greenland, saying “I don’t want to use force. I won’t use force.” Furthermore, he dropped imminent tariffs on European countries regarding Greenland. Still, Trump pushes for negotiations, claiming that the U.S. needs a presence in Greenland due to its strategic importance. Trump announced that he and NATO Secretary-General, Mark Rutte, reached a “framework” for cooperation. It appears that, for now, this would grant the U.S. some military bases, yet Trump refers to this as “total access,” with a nod to adding Greenland to his “golden dome” project. A source told AFP that Washington and Copenhagen plan to renegotiate their 1951 defense accord related to Greenland, with broader Arctic security cooperation under discussion. There are also talks about a screening of Chinese and Russian investments in Greenland. Danish leaders have said they have not seen the full terms; however, Jens-Frederik Nielsen welcomed the de-escalation but said he has not seen details and repeated that sovereignty and territorial integrity are non-negotiable. E.U. leaders have paused economic punishment of the U.S., yet Trump warned of “big reprisals” if European countries try to pressure Washington by selling U.S. debt. In response to all this, global markets rebounded, with Wall Street posting solid gains, Asian equities jumping, and Seoul’s Kospi topping 5,000 for the first time as 10-year Treasury yields eased. While NATO is celebrating this as a victory, it seems that Trump had achieved what he wanted all along by pushing for more than he initially intended and settling comfortably.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Trending