Still No Supreme Court Tariff Ruling, Greenland Threats, More
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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.
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Find us on Apple, Spotify, or anywhere you listen. News when you want it with Bloomberg News Now. I'm Nathan Hager, and we'll start with the latest news from the Supreme Court. It's no news once again. The justices have declined to issue a ruling on President Trump's tariffs on this, their third opinion day of the year. It probably means it'll be another month before the challenge to the president's signature economic policy is resolved. The high court's preparing for a four-week recess, and if it sticks to its usual procedure, the next potential day for a tariff ruling from the high court. would be February 20th. But it's far from a calm start to the holiday short in trading week. President Trump's renewed push to take control of Greenland is rattling investors and upsetting allies at the World Economic Forum in Davos, Switzerland.
European Commission President Ursula von der Leyen.
In my view, the seismic change we are going through today is an opportunity in fact a necessity to build a new form of european independence french president emmanuel macron europe has very strong tools now and we have to use them when we are not respected and when the rules of the game are not respectable
French leaders called for unleashing Europe's toughest trade tool, with President Trump threatening higher tariffs on countries that don't go along with his Greenland push. The president's threatening 200 percent tariffs on French wine and champagne after Macron snubbed his proposed board of peace for Gaza. President Trump has invited dozens of countries to join the body, including Russia and China. Ukrainian President Volodymyr Zelensky says he's received an invitation as well, but he says he can't imagine joining the same group as a nation waging war on his country. Zelensky says he will probably skip this week's World Economic Forum as Russian airstrikes have left vast swaths of Kyiv without heat or water.
Finnish President Alexander Stubb confirms that President Trump's tying his heightened Greenland pressure to the Norwegian Nobel Committee, not giving him the Nobel Peace Prize. Stubb says now he hopes cooler heads prevail.
I think now what we need to do is to bring down the temperature. We need to find an off-ramp and probably create some kind of a process which will strengthen Arctic security.
Finnish President Alexander Stubb spoke to Bloomberg's surveillance from the Davos sidelines. In the meantime, Denmark's pension fund for teachers and academics says it will exit U.S. treasuries at the end of the month, in part because of the Greenland pressure, but also because of concerns about fiscal discipline in the U.S. and a weaker dollar.
What recent developments occurred in the Supreme Court regarding tariffs?
Ann Walsh is chief investment officer at Guggenheim Managers.
tend to disagree with the Danish pension plan. I do actually think that the U.S. is a good credit. And in particular, I think U.S. credit is a good credit. And I think fundamentals remain strong.
And Walsh with Guggenheim Partners also spoke with Bloomberg from Davos. But all the pressure has markets in risk-off mode. Right now, the S&P 500 is down 1.1%. The Dow Jones Industrial Average is 1% lower. The Nasdaq composite is down 1.4 percent. The Supreme Court hasn't ruled out on tariffs, but it is set to hear arguments tomorrow on President Trump's push to fire Fed Governor Lisa Cook. Fed Chair Jay Powell reportedly plans to attend. Treasury Secretary Scott Besson says that would be a mistake if Powell's goal is not to politicize the central bank.
I think that the Fed's monetary policy independence is very important.
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