Bloomberg News Now
Trump Links Greenland Threats to Nobel Snub, Markets Drop Sharply on Greenland, More
19 Jan 2026
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 Dan Schwartzman. German Finance Minister Lars Klingbeil telling reporters in Berlin Monday that President Trump reached a red line with his threat to hit NATO allies with additional tariffs for opposing his bid to annex Greenland. Klingbeil said, quote, We are constantly experiencing new provocations.
We are constantly experiencing new antagonism, which President Trump is seeking. And here we Europeans must make it clear that the limit has been reached. The minister speaking alongside his French counterpart said there was a European toolbox available to use to respond to economic blackmail, which they believe should be now examined.
Klingbaum was responding to Trump's announcement over the weekend to impose a 10 percent tariff on goods from eight European countries starting February 1st, rising to 25 percent in June unless there's a deal for the, quote, purchase of Greenland. President Trump linking his claims on Greenland to not being awarded the Nobel Peace Prize in a letter to Norway's prime minister.
The president says the world is not secure unless the U.S. has, quote, complete and total control of Greenland. The Nobel Peace Prize, though, isn't decided by the Norwegian government, but is awarded by an independent committee. Bloomberg's Oliver Crook says, though, the question now is, where do European leaders go from here?
They basically will hold off on taking any retaliatory action until February the 4th to see if those tariffs in fact come in. But if those tariffs come in, it's hard to imagine a world in which the Europeans will not raise tariffs of their own and start to target some of those U.S.
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Chapter 2: What threats did Trump link to the Nobel Peace Prize snub?
We have set these trade deals and it is very good for the United States. We are balancing our trade deficit.
That's Treasury Secretary Scott Besson. Cryptos fell sharply as risk assets slipped and haven demand strengthened after President Trump proposed new levies on eight European countries for their support of Greenland. Bitcoin slid by as much as 3.6% to below $92,000, while other tokens posted steeper losses, with the sell-off knocking about $100 billion off the crypto market's total value.
Bitcoin had risen back up to just shy of $98,000 on January 14th before the latest drop. Japan's Prime Minister Sanae Takeuchi plans to campaign on a two-year cut to the sales tax on food in a snap election that will take place with early polling beginning on February 8th. Economists warn the move will cost around 5 trillion yen, equivalent to $31.6 billion per year.
Takahichi said she was still considering how to fund the move. The Los Angeles Rams will face the Seattle Seahawks in the NFC Championship game next weekend after beating the Bears in Chicago 20-17 on a 42-yard field goal in overtime. In the AFC, the Patriots and the Broncos will battle for the right to go to the Super Bowl.
College football's national championship game is tonight at Hard Rock Stadium in Miami as the Indiana Hoosiers face the Miami Hurricanes. Kickoff is scheduled for 7.30 Eastern time. That's news when you want it with Bloomberg News Now. I'm Dan Schwartzman and this is Bloomberg.
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