US Treasury chief says retaliatory EU tariffs over Greenland ‘unwise’

DAVOS, Switzerland – US Treasury Secretary Scott Bessent warned European nations on Jan 19 against retaliatory tariffs over President Donald Trump’s threatened levies
to obtain control of Greenland.

“I think it would be very unwise,” Mr Bessent told reporters on the sidelines of the World Economic Forum in the Swiss ski resort of Davos.

He said Mr Trump wanted control of the autonomous Danish territory because he considers it a “strategic asset” and “we are not going to outsource our hemispheric security to anyone else”.

Asked about Mr Trump’s message to Norway’s prime minister, in which he appeared to link his Greenland push to not winning the Nobel Peace Prize
, Mr Bessent said: “I don’t know anything about the President’s letter to Norway.”

He added, however, that he thought it was “a complete canard that the President will be doing this because of the Nobel Prize”.

Mr Trump said at the weekend that from Feb 1, Britain, Denmark, Finland, France, Germany, the Netherlands, Norway and Sweden would be subject to a 10 per cent tariff on all goods sent to the US until Denmark agrees to cede Greenland.

The announcement has drawn angry charges of “blackmail” from the US allies, and German Vice-Chancellor Lars Klingbeil said on Jan 19 that Europe was preparing countermeasures.

Asked later on Jan 19 about the chances for a deal that would not involve acquiring Greenland, Mr Bessent said he “would just take President Trump at his word for now”.

“How did the US get the Panama Canal? We bought it from the French,” he told a small group of journalists, including from AFP.

“How did the US get the US Virgin Islands? We bought it from the Danes.”

Mr Bessent reiterated in particular the island’s strategic importance as a source of rare earth minerals that are critical for a range of cutting-edge technologies.

Referring to Denmark, he said: “What if one day they were worried about antagonising the Chinese? They’ve already allowed Chinese mining in Greenland, right?” AFP