Trump Floats 200% Champagne Tariff, Japan Bond Meltdown, More
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And I'm Stephen Carroll.
The US president is reinforcing his increasingly aggressive push for ownership of Greenland. Speaking in Florida over the past few hours, Donald Trump called the island a national security necessity to counter Russia and China.
What are Trump's latest comments on Greenland and national security?
Trump added that he does not expect the European Union to offer significant resistance.
Well, I don't think they're going to push back too much. Look, we have to have it. They have to have this done. They can't protect it. Denmark, they're wonderful people. And I know the leaders, they're very good people, but they don't even go there. And, you know, because the boat went there 500 years ago and then left, that doesn't give you title to property.
Trump went on to say that he'll discuss Greenland with several parties while attending the World Economic Forum in Davos. His latest comments come as Germany's Chancellor, Friedrich Merz, sought to de-escalate tensions following the threat of tariffs on eight European countries.
We do not want this escalation. We do not want a trade dispute with the United States of America. But if we are confronted with tariffs that we consider inappropriate, then we are in a position to respond. And that is precisely what we will be discussing in Brussels on Thursday.
German Chancellor Friedrich Merz speaking through a translator there after the French President Emmanuel Macron said that the EU should consider using its most powerful trade tool, the anti-coercion instrument. That would allow for additional tariffs, new taxes on overseas firms and even foreign investment curves.
Macron's push for a robust EU response came as the US president directly threatened France with a 200% tariff on its wines and champagne. The move came after Emmanuel Macron declined Trump's invitation to join a proposed board of peace for Gaza. Trump also posted screenshots of messages from the French leader on social media, which proposed a meeting with the leaders of Ukraine, Syria, Denmark and Russia in Paris on Thursday. Here's what the US president told reporters a little earlier.
Well, nobody wants him because he's going to be out of office very soon. So, you know, that's all right. What I'll do is if they feel like costo, I'll put a 200 percent tariff on his wines and champagnes and he'll join. But he doesn't have to join.
President Trump also confirmed that Russia's President Vladimir Putin had also been invited to join the board. The US President also posted messages to social media that he said were from the NATO Secretary General Mark Rutte, praising his handling of a range of diplomatic issues. In the screenshot, Rutte also says he's committed to finding a way forward on Greenland.
Yields on Japanese bonds, meanwhile, have soared to new records as investors show their displeasure at Prime Minister Sanae Takeuchi's election pitch to cut taxes on food. Takeuchi's betting that a snap election on February 8th will allow her ruling Liberal Democratic Party to strengthen its slim parliamentary majority. However, traders have given her policy offer the thumbs down with the 40-year rate hitting 4%, its highest yield since its debut in 2007, currently up 1%. 30 basis points almost, 29 basis points at 4.22%.
UK wages grew at their slowest pace in three and a half years in the three months to the end of November, as British firms cut jobs at the fastest pace since 2020. Pay growth, excluding bonuses, cooled to 4.5%, down from 4.6% in the period through October. Meanwhile, tax data show the number of employees on payrolls falling by 43,000 in December. That figure was double market expectations and came the month after Rachel Reeves' revenue hiking budget.
And the UK's deadline to approve or deny China's planned mega-embassy in London is today, and the government appears to be gearing up to say yes. The Foreign Minister told the UK Parliament that some of the government's concerns had been resolved, but the decision is still set to be highly controversial to diplomats and national security officials alike.
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