#greenland-acquisition

#greenland-acquisition

After a brief sell-off in the run-up to Donald Trump's speech to global leaders at the World Economic Forum in Davos, Switzerland on Wednesday, markets are up, after the president backed off earlier claims and ruled out using force to acquire Greenland. The Dow Jones Industrial Average was up 451 points, or about 1%, and the S&P 500 was up 67 points, also about 1%, in midday trading at the time of this writing. The Nasdaq was up about 0.7%.

Trump said on Wednesday that he will not use force to get Greenland, but is "seeking immediate negotiations to once again discuss the acquisition" by the US. Trump's ongoing threats against Europe over his desire to take over Greenland have been dominating this year's Davos agenda. All eyes were on Trump during his 70-minute-long speech, with billionaire CEOs - including Apple's Tim Cook and Salesforce's Marc Benioff - alongside heads of state filling up Congress Hall to hear what he had to say.

Canada gets a lot of freebies from us, by the way, Trump said. They should be grateful also, but they're not. I watched your prime minister yesterday. He wasn't so grateful, but they should be grateful to us, Canada. Canada lives because of the United States. Remember that, Mark, the next time you make your statements.

Sánchez warned that if there is a military invasion on the Arctic island that this will be a "death sentence for NATO." In 2017 the US President revealed his desire to want Greenland, Donald Trump said at the time he would pay $600 million a year for life to use the country. When Trump returned back to power in 2025 he then raised the question of acquiring Greenland, then at the start of 2026 he doubled down and has said that he "want it now."

The White House said in a statement in response to queries from Reuters that Trump sees acquiring Greenland as a US national security priority necessary to "deter our adversaries in the Arctic region." "The president and his team are discussing a range of options to pursue this important foreign policy goal, and of course, utilising the US military is always an option at the commander-in-chief's disposal," the White House said.