President Trump Heads to Davos, Bessent Cautions Allies, More
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Bloomberg Daybreak is your best way to get informed first thing in the morning, right in your podcast feed. Hi, I'm Karen Moskow.
And I'm Nathan Hager. Each morning, we're up early putting together the latest episode of Bloomberg Daybreak U.S. Edition. It's your daily 15-minute podcast on the latest in global news, politics, and international relations.
Listen to the Bloomberg Daybreak U.S. edition podcast each morning for the stories that matter with the context you need.
Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now. I'm Nathan Hager.
And I'm Karen Moscow.
Karen, we begin with the latest from the World Economic Forum in Davos, Switzerland. President Trump is on his way to attend the annual gathering of global elites, and he's promising to talk about America's successes.
The country's never done better. We have $18 trillion-plus coming in. We've never had anything like it, and no country has had anything like it.
The president spoke to reporters before boarding Air Force One, but the trip's already gotten off to a rough start. The plane had to return to Joint Base Andrews shortly after takeoff due to a mechanical issue. President Trump was eventually able to get on a replacement plane, but it delayed his departure by more than two hours. The president's speech is scheduled for 8.30 a.m. Wall Street time But Treasury Secretary Scott Besant in Davos says he expects the president to be about three hours late. We will carry the president's remarks when they happen on Bloomberg Radio, Bloomberg Television and the Bloomberg podcast channel on YouTube.
Nathan, when President Trump does arrive in Davos, he could find allies shaken by his stated desire to take control of Greenland. The president has announced 10 percent tariffs on goods from eight European countries starting next month unless he has a deal to purchase Denmark's territory. Officials in Europe have started drafting plans to retaliate, but President Trump says he does not think they will.
I think that we will work something out where NATO is going to be very happy and where we're going to be very happy.
President Trump spoke at a White House news conference heard live here on Bloomberg Radio, marking his first year back in office. Asked how far he'd go to acquire Greenland, the president responded, you'll find out.
Well, Karen, France is requesting that NATO carry out a military exercise in Greenland in a bid to boost the region's security. That brought an angry response from Treasury Secretary Scott Besant this morning.
If this is what all President Macron has to do when the French budget is in shambles, I would suggest that he focuses on other things for the French people.
Treasury Secretary Scott Besant is questioning the message European allies are sending following Denmark's recent decision, as well as that of seven other NATO nations, to deploy a handful of officers to Greenland.
Nathan, the Treasury Secretary is also pushing back after a Danish pension fund said it plans to sell its U.S. Treasury holdings by the end of the month. Academiker Pensions cited U.S. fiscal policies and Trump's desire to own Greenland as reasons for the decision. Here's Besant again this morning in Davos.
What updates are there on President Trump's trip to Davos?
Well, the size of Denmark's investment in U.S. Treasury bonds, like Denmark itself, is irrelevant. that is less than $100 million. They've been selling Treasuries for years. I'm not concerned at all.
Treasury Secretary Scott Besson's comments follow a U.S. market route yesterday that saw the S&P 500 log its worst day since October. And Bloomberg's John Tucker is here with the latest. John, good morning.
Good morning, Nathan. Yeah, the S&P 500 erased its 2026 gains. Bond prices and the dollar fell all after President Trump threatened tariffs on multiple European countries. who have opposed his pressure to take over Greenland. JP Morgan Asset Management's Bob Michaels sees it this way.
It seems crazy, except that things have a way of happening which people didn't think would happen.
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