Alex Ossola

and Europe is making NATO vulnerable to a Russian attack.

The rift could also come with economic consequences.

If President Trump does implement the tariffs, some $100 billion worth of American exports, like Boeing planes and bourbon whiskey, could get caught in the crossfire if the EU retaliates.

EU officials say they are prioritizing dialogue with the Trump administration to avoid escalating the situation.

Speaking at the White House this afternoon, President Trump didn't back off his desire to acquire Greenland.

He expressed confidence that he could reach a deal, saying that he has a lot of meetings scheduled in Davos on Greenland and, quote, I think things are going to work out pretty well.

Also in that press conference.

President Trump is expected to head soon to Davos, where he's scheduled to speak tomorrow.

Trump's comments roiled U.S.

markets.

Major indexes fell sharply, with the Nasdaq tumbling 2.4 percent, the S&P dropping 2.1 percent, and the Dow losing 1.8 percent.

The S&P is now down 0.7 percent year-to-date, the first time in 2026 that the index is down for the year.

And silver and gold futures hit new records as investors sought safe haven trades.

WSJ Markets reporter Hannah Aaron Lang says we've seen this before.

In other news, foreign leaders are responding with caution to an invitation to join President Trump's Board of Peace.

While the group was established by Trump to support the reconstruction of Gaza, it now has a broader mission to mediate global conflicts.

And in remarks at the White House this afternoon, the president cast the Board of Peace as an alternative to the United Nations.

It would carry a $1 billion fee for governments with a permanent seat as members.

Around 60 governments have received invitations to join the board.

And while the leaders of nations including Belarus, Hungary, and Morocco have said they'll join, some, such as the United Kingdom and Russia, are still deliberating.