Trump Threatens Tariffs Up to 25% Over Greenland Takeover

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Unknown 0:00

Today's show is brought to you by Vanguard. To all the financial advisors listening, let's talk bonds for a minute. Capturing value and fixed income is not easy. Bond markets are massive, murky, and let's be real, lots of firms throw a couple flashy funds your way and call it a day. But not Vanguard. At Vanguard, institutional quality isn't a tagline. It's a commitment to your clients. We're talking top-grade products across the board of over 80 bond funds. actively managed by a 200-person global squad of sector specialists, analysts, and traders. These folks live and breathe fixed income. So if you're looking to give your clients consistent results year in and year out, go see the record for yourself at Vanguard.com slash audio.

Unknown 0:42

That's Vanguard.com slash audio. All investing is subject to risk. Vanguard Marketing Corporation Distributor.

Monica Ricks 0:49

News when you want it with Bloomberg News Now. I'm Monica Ricks. We're following breaking news out of Washington where President Trump just announced a 10% tariff on European countries rallying to Denmark's side in his pursuit of Greenland. Trump threatened in a social media post to impose tariffs starting February 1st and says they'll be raised to 25% in June unless a deal is reached for the, quote, complete and total purchase of Greenland. The tariffs will apply to Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland. It comes as protests erupt across Greenland and Denmark today, where a bipartisan congressional delegation has been working to de-escalate tensions. Republican Alaska Senator Lisa Murkowski.

Monica Ricks 1:36

Greenland needs to be viewed as our ally, not as an asset. Denmark is part of NATO, and these talks come as other countries within the alliance, including France and Germany, send military support to help secure the territory. Delaware Senator Chris Coons.

Donald Trump 1:51

I think I speak for every senator and House member here in that we deeply value NATO and that this 80-year-old alliance, this partnership has been absolutely critical to the United States' security and prosperity and success.

Monica Ricks 2:05

It's not immediately clear what authority Trump would use and how he would seek to apply new tariffs to these countries, but he's previously relied on the International Emergency Economic Powers Act for similar threats. His use of that authority, though, is based on a landmark case at the Supreme Court with a ruling expected soon. Justices could overturn tariffs, but the administration has already said if that happens, it'd seek alternatives. And that's news when you want it with Bloomberg News Now. I'm Monica Ricks. And this is Bloomberg.

Unknown 2:35

It's a commitment to your clients. We're talking top-grade products across the board of over 80 bond funds. actively managed by a 200-person global squad of sector specialists, analysts, and traders. These folks live and breathe fixed income. So if you're looking to give your clients consistent results year in and year out, go see the record for yourself at Vanguard.com slash audio. That's Vanguard.com slash audio. All investing is subject to risk. Vanguard Marketing Corporation Distributor.

Stephanie Flanders 3:26

Donald Trump is rewriting the Washington rulebook and reshaping the global economy. If you're trying to connect the dots behind the headlines, Bloomberg's Trumponomics podcast is here to help. I'm Stephanie Flanders, head of government and economics at Bloomberg. Every week I'll bring you a smart, focused conversation with reporters and experts from Washington, Wall Street and beyond. Listen to new episodes every Wednesday and follow Trumponomics wherever you listen.

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