Trump Heads to Davos, Market Calm Shattered by Greenland, More
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That's Vanguard.com slash audio. All investing is subject to risk. Vanguard Marketing Corporation Distributor. News when you want it with Bloomberg News Now. I'm Karen Moscow. President Trump ramping up rhetoric over Greenland and threatening higher tariffs on America's closest allies as he prepares to pitch his affordability message to the global elites at Davos. Bloomberg's Tyler Kendall has more from Washington.
President Trump is really just ramping up the pressure as he heads to Davos. That speech tomorrow now slated for 8.30 a.m. Eastern. And though he is abroad, of course, we know that he's going to be focusing in on some domestic issues, including that his NEC director, Kevin Hassett, has already previewed that he's going to roll out a plan related to letting Americans use and pull from their 401k for a down payment. on homes.
And that's Bloomberg's Tyler Kendall in the nation's capital. While President Trump has unleashed fresh social media attacks against European allies and threatened crushing tariffs on French wine, underlining the stakes for high-level meetings planned in Davos this week. In a flurry of comments and posts early this morning, Trump took a swipe at President Emmanuel Macron of France for rejecting an invitation to back his latest peace initiative and suggested the U.S. would impose duties on France's politically sensitive agriculture sector. Bloomberg's Oliver Crook has more from Brussels.
Donald Trump, in what seems to be a sort of tradition now, before his trips coming to Europe, he was posting screenshots of text messages he got from Mark Rutte and from the president of France, Emmanuel Macron. And I'll just read here what he put out. And this is apparently a text from Macron saying, my friend, we are totally in line on Syria. We can do great things on Iran. I don't understand what you're doing with Greenland. Let's try to build great things. I can set up a G7 meeting after Davos in Paris on Thursday afternoon. I can invite the Ukrainians, the Danish, the Syrians, the Russians in the margins. Let's have dinner together in Paris and talk on Thursday before you go back to the United States.
And that's Bloomberg's Oliver Crook. Meanwhile, speaking in Davos this morning, EU Commission President Ursula von der Leyen responded to President Trump's new tariff threats against European nations who oppose the U.S. acquiring Greenland. The proposed additional tariffs are a mistake, especially between long-standing allies. And Trump announced a 10% tariff on goods from eight European countries beginning February 1st, rising to 25% in June unless he has a deal for the purchase of Greenland. Ukrainian President Volodymyr Zelensky is saying he'll likely scrap plans to attend the World Economic Forum as he oversees the nation's response to Russian airstrikes that have left vast swaths of Kyiv without heating and water.
Zelensky says he needs to be in Kyiv to coordinate the emergency as temperatures in the capital remain well below freezing. He said he may revive plans to travel to the conference in Davos, Switzerland. if negotiators pressing for Western-backed security guarantees and an end to the four-year war produce an agreement that can be signed. Treasury Secretary Scott Besson criticizing Federal Reserve Chair Jerome Powell over his plans to attend a Supreme Court hearing regarding the president's attempt to dismiss a central bank governor.
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