Zelenskiy: Europe Could Be 'Invincible', TikTok US Deal, More

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What is the main topic discussed in this episode?

Lizzie Burden 0:00
News when you want it with Bloomberg News Now. I'm Lizzie Burden.
Stephen Carroll 0:04
And I'm Stephen Carroll.
Lizzie Burden 0:05
After a bruising week for transatlantic ties, European leaders are now trying to refocus 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.

What challenges are European leaders facing in their relations with the US?

Lizzie Burden 0:25
Here's Kaya Callas, the EU's High Representative for Foreign Affairs and Security Policy.
Josep Borrell 0:29
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.
Lizzie Burden 0:45
Claire Callas was speaking to Bloomberg as EU leaders this week have called for unity but diverged on how best to handle relations with the United States. German Chancellor Friedrich Merz has urged his colleagues to react calmly to Trump's provocations. Meanwhile, France's Emmanuel Macron explicitly attacked the president's strategy, calling it an attempt to weaken and subordinate Europe.
Stephen Carroll 1:04
Well, turning next to the commentary that we heard from the World Economic Forum from Canada's Mark Carney that most clearly spelled out the challenge confronting Europe. On Tuesday, Carney warned that the rules-based international order was effectively dead and argued that mid-sized powers must form new alliances to resist coercion from aggressive superpowers. After returning to Canada, the Prime Minister talked about his country's role in this new global order.
Mark Carney 1:31
In a time of democratic decline, we can show how rights can be protected and equal freedoms endure.

How is Europe responding to security concerns regarding Ukraine?

Mark Carney 1:37
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.
Stephen Carroll 1:48
Canada's Mark Carney speaking there. His latest comments came after President Trump took another swipe at the Prime Minister, saying that Canada lives because of the United States. Remember that, Mark, the next time you make your statements.
Lizzie Burden 2:01
Well, the highly charged rhetoric came as sources told Bloomberg that the U.S. wants to rewrite its current defense agreement with Denmark to remove any limits on its military presence in Greenland. On his way back from Davos to the U.S., President Trump was asked whether his framework deal would give the United States sovereignty over pockets of land in the Arctic Territory.
Donald Trump 2:20
That was discussed. We can do anything we want. We can do military.

What did Mark Carney say about the international order and alliances?

Donald Trump 2:25
We can do anything we want. And it's being negotiated. And let's see what happens. I think it'll be good.
Lizzie Burden 2:31
President Trump speaking there. The European Parliament is now expected to vote on ratifying the EU-US trade deal 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, with gold rising close to $5,000 an ounce.
Stephen Carroll 2:49
With tensions over Greenland on hold for now, the EU is seeking to refocus attention on Ukraine's future. US envoy Steve Witkoff and Jared Kushner held four hours of talks in Moscow with President Putin without making progress on the issue of territory. The talks came as Ukraine's President Zelensky used his speech in Davos to criticise Europe for relying too much on American support.
Volodymyr Zelensky 3:10
Dear friends, we should not degrade ourselves to secondary roles, not when we have a chance to be a great power together. We should not accept that Europe is just a salad of small and middle powers seasoned with enemies of Europe. When united, we are truly invincible.
Stephen Carroll 3:32
President Zelensky says top Ukrainian officials will attend planned talks with the US and Russia in the United Arab Emirates.
Lizzie Burden 3:39
Meanwhile, TikTok and its Chinese parent company ByteDance have closed a long-awaited deal with American investors to operate its US business and avoid a nationwide ban. The social media company has established a majority US-owned entity with three managing investors, Oracle, Silverlake and MGX, each holding a 15% stake in the new venture.

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