Trump says Greenland framework with NATO involves mineral rights for U.S.

Key Points

• President Donald Trump told CNBC that the framework on Greenland involves mineral rights and the Golden Dome.
• Trump said the framework deal would last "forever."
• Greenland ranks eighth in the world for rare earth reserves, according to the Center for Strategic and International Studies.

President Donald Trump said Wednesday that the framework he reached with NATO on Greenland involves access to mineral rights for the U.S. and its European allies as well as collaboration on the Golden Dome.

"They're going to be involved in the Golden Dome, and they're going to be involved in mineral rights, and so are we," Trump told CNBC's Joe Kernen in an interview at the World Economic Forum in Davos, Switzerland.

When asked how long the deal would last, the president said: "Forever."

Trump ruled out using force to acquire Greenland and called for immediate negotiations on the island's status in his address to the World Economic Forum earlier Wednesday.

Shortly therafter, Trump said he reached a framework for a deal with NATO Secretary General Mark Rutte. The president said he would not impose tariffs on Denmark and other European countries on Feb. 1.

Trump told CNBC that he had reached a "concept of a deal" with NATO. He declined to provide more detail, describing the deal concept as complex

Greenland ranks eighth in the world for rare earth reserves, according to the Center for Strategic and International Studies. Trump has made developing a rare earth supply chain a central objective of his administration's industrial policy as he seeks to reduce U.S. dependence on China.

Rare earths are used to make magnets that are key inputs in weapons systems, electric vehicles, electronics and other importants industries.

Trump's push to acquire Greenland, a self-governing territory of Denmark, has raised fears that the NATO alliance could fracture.