US-Putin Ukraine Talks, Trump Sues Dimon & JPM For $5B, More
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News when you want it with Bloomberg News Now. I'm Stephen Carroll. After a bruising week for transatlantic ties, European leaders are now trying to refocus on their urgent security and economic priorities. At an emergency summit in Brussels, the EU sought to find ways to move on after the US president delivered a sobering reality check on the world's most important economic relationship. Here's Kaya Callas, the EU's High Representative for Foreign Affairs and Security Policy.
The real issue is Ukraine right now. And that's why, you know, any kind of disagreements that we have between allies, our adversaries like Russia and China are really enjoying this show.
Kaya Callas was speaking to Bloomberg as officials and leaders called for unity, but diverged on how best to now handle relations with the United States. Germany's Chancellor Friedrich Merz has urged his colleagues to react calmly to Trump's provocations. Meanwhile, France's Emmanuel Macron explicitly attacked the US president's strategy, calling it an attempt to weaken and subordinate Europe. But it was the comments from Canada's Mark Carney that most clearly spelled out the challenge confronting Europe. Speaking in Davos on Tuesday, Carney warned that the rules-based international order was effectively dead and argued that middle powers must form new alliances to resist pressure and coercion from aggressive superpowers.
After returning to Canada, Mark Carney offered this message aimed at defining his country's role in a fracturing global order.
In a time of democratic decline, we can show how rights can be protected and equal freedoms endure. And in a time of rising walls and thickening borders, we can demonstrate how a country can be both open and secure, welcoming and strong, principled and powerful.
Mark Carney's latest comments came after President Trump took a swipe at the leader of America's northern neighbour, saying Canada lives because of the United States. Remember that, Mark, the next time you make your statements. The highly charged rhetoric from Western allies came as sources told Bloomberg the US wants to rewrite its current defence agreement with Denmark today. to remove any limits on its military presence in Greenland. While on the way back to the US from Davos, President Trump was asked whether the US framework deal would give the United States sovereignty over pockets of land on the Arctic territory.
That was discussed. We can do anything we want. We can do military. We can do anything we want. And it's being negotiated. And let's see what happens. I think it'll be good.
What are the latest developments in US-Putin Ukraine talks?
President Trump speaking there. The European Parliament is now expected to vote on ratifying the bloc's trade deal with the US after he walked back his latest threat to impose extra tariffs on European allies. But despite signs that geopolitical tensions may be easing, markets remain apprehensive. Gold prices now closing in on $5,000 an ounce. Bullion climbed to a record above $4,967 in trading earlier today and is on track for a weekly gain of nearly 8%, supported by a weaker dollar. Now, before Trump's Greenland ultimatum, much of Europe's focus had been on drafting a peace deal framework between the US and Ukraine. EU leaders have been pushing to return Ukraine to the top of the agenda as US envoys Steve Witkoff and Jared Kushner began late-night talks with President Putin in Moscow.
Speaking in Davos, President Zelensky criticised Europe for relying too much on American support and said it can act in its own right as a global force.
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