US President Donald Trump leaves the convention center during the annual meeting of the World Economic Forum (WEF) in Davos on January 21, 2026.
Fabrice Coffrini | AFP | Getty Images
The tariff clock stopped just in time.
US President Donald Trump announced On Wednesday, he and NATO Secretary-General Mark Rutte agreed on what they called “the framework for a future deal” on Greenland, calling for it to drop tariffs that threaten European countries to take effect on February 1.
Details are still unclear. Trump described the structure as a “concept.” Interview with CNBC’s Joe Kernensaid it would include the proposed Golden Dome missile defense system and US-European cooperation to achieve it. Mineral resources in Greenland.
But Trump, when asked for specifics, said: “It’s a little bit complicated, but we’re going to explain it in detail.”
Markets did not wait for the warnings. The “Sell America” trade that sent investors into a frenzy earlier this week quickly changed the news. U.S. stocks rose, with major indexes up more than 1% at the close, while the 10-year Treasury yield edged lower and the U.S. dollar index strengthened.
Other topics Trump discussed with CNBC included his choices the next Federal Reserve Chairman, US intervention in Iran and his push to cap interest rates on credit cards.
It happened to Trump spoke Earlier in the day, at the World Economic Forum in Davos, he called for “urgent negotiations” over Greenland’s future, but said the US would not take military action.
The developments were surprising A day in Davosits theme this year was “The Spirit of Dialogue,” even as frayed alliances and geopolitical tensions dominated the conference’s discussions.
So far, at least, the dialogue seems to have worked, as the debate over Greenland between Trump and Rutte has helped lower temperatures on the icy island.
— CNBC’s Kevin Breininger contributed to this report.
What you need to know today
There’s a ‘core’ to the US Greenland deal: Trump. The US President on Wednesday together with NATO Secretary General Mark Rutte “scope of the future transaction Regarding Greenland” prompted him to suspend tariffs that threatened European countries.
European lawmakers have suspended the US trade deal. Chairman of the International Trade Committee of the European Parliament, Bernd Lange, said Trump’s plan to impose tariffs on European countries. to challenge the terms of a trade pact.
South Korea’s economic growth is not meeting expectations. economy increased by 1.5% between October and December Economists do not predict that it will grow by 1.9% from a year ago. Quarterly, the gross domestic product decreased by 0.3%.
U.S. stocks rebounded as Trump lifted tariffs. Major US indices Up more than 1% Technology stocks led the day on Wednesday. Pan-European Stoxx 600 remained unchangedbut the Stoxx Europe 600 basic resources index rose 3.7%.
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