Chapter 1: What is the main topic discussed in this episode?
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News when you want it with Bloomberg News Now. I'm Stephen Carroll. The US President Donald Trump says he won't impose tariffs on goods from European countries opposed to his efforts to acquire Greenland. In a social media post, Trump cited the framework of a future deal reached with NATO as the reason for the change.
It followed a meeting with NATO Secretary General Mark Rutte at the World Economic Forum in Davos. Speaking to reporters in the conference centre shortly afterwards, the US President offered further insight into the deal.
It's a deal that people jumped at. Really fantastic for the USA. Gets everything we wanted, including especially real national security and international security.
How so? Can you give us some details, please?
Well, the deal is going to be put out pretty soon. We'll see. It's right now a little bit in progress, but pretty far along. It gets us everything we need it to get.
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Chapter 2: What recent developments occurred regarding Trump's Greenland acquisition plans?
We very much focused on what do we need to do to make sure that that huge Arctic region, where change is taking place at the moment, where the Chinese and Russians are more and more active, how we can protect that. That was really the focus of our discussions.
NATO Secretary General Mark Rutte is speaking on Fox News after the Danish Foreign Minister welcomed the latest developments in an interview with national broadcaster DR. Lars Luka Rasmussen said the day ends better than it started. However, he added that it's obvious that Trump had not given up on his ambition to gain control of Greenland, which remains a red line for the Kingdom of Denmark.
Well, global stocks are rallying after President Trump abandoned those tariff threats. Asian shares are rising. Momentum looks set to carry into the European session too. Markets going risk on and safe havens such as gold dropping. Bloomberg's international economics and policy correspondent Mike McKee says the pivot has driven markets.
The markets went way down and today they start to go back up again because everybody started to think, no, he can't do this. And he's probably going to chicken out the taco trade. And so people started, you know, buying risk assets again. And then the headline crosses that he's back down. And so everybody just piles back in again.
Mike McKee speaking there as the president's policy shift appeared to vindicate investors who adhere to the taco trade that is buying any dip caused by US tariff threats because they argue Trump always chickens out when there's a major market sell-off.
Russia's President Vladimir Putin has said he's ready to commit frozen Russian assets in the United States towards rebuilding damaged regions of Ukraine once a deal to end the war has been concluded. Putin told Russia's Security Council that he could also give $1 billion of the assets for membership of President Trump's Board of Peace for post-war Gaza.
Speaking in Davos, US envoy Steve Witkoff gave an update on plans for the Peace Board, which is still in its early stages.
We've got 20 or maybe 25 leaders who have already said yes. This is not such an easy place to get to. We had many people who we weren't sure if they were going to even want to get an invitation. Now they're calling up for an invitation. So everyone wants to be a part of this. What we're going to do here, what the president is going to do here, will be game-changing for the world.
Witkoff was speaking ahead of a meeting with Putin in Moscow later today. The joint Russian offer is designed to appeal to President Trump and avoid further economic sanctions using money frozen under the Biden administration, which the Kremlin does not control.
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