US Treasury Secretary Scott Bessent emphasizes that the US and Europe will find a solution to the disputed issue of Greenland without unnecessary escalation. Donald Trump threatens to trigger a trade war, European leaders prepare retaliatory measures.
American Finance Minister Scott Bessent expressed his belief that the United States and European countries will find a solution to the issue of Greenland, over which the American government wants to take control. With this step, he tried to lighten the situation in connection with a potential trade war, TASR reports, according to a Reuters report.
US President Donald Trump on Saturday announced tariffs on imports from European countries that opposed US administration of the autonomous Danish island. According to these countries, the tariffs would violate the trade agreement they negotiated with Trump last year. European leaders will therefore discuss possible retaliatory measures at an extraordinary summit on Thursday in Brussels. One possibility is a package of tariffs on imports from the USA, which reaches a value of 93 billion euros. The package would automatically take effect on February 6 after a six-month suspension.
National security and resolution
Bessent said that a solution to this new situation will be found that will ensure the national security of both the US and Europe. “Only 48 hours have passed,” emphasized the US minister on the sidelines of the economic forum in the Swiss city of Davos. “I am convinced that the leaders will not escalate the situation and that it will eventually be resolved to everyone’s satisfaction,” he assessed.
The American president has repeatedly emphasized the need to acquire Greenland, but the leaders of both Denmark and Greenland have refused to sell or take control.
Speculation on US debt
At the same time, the head of the finance department dismissed speculation that European governments could sell the US government bonds they hold as reserves, which could make it more expensive for the US to finance the government. “US debt is the most liquid market, it is the basis of all financial transactions and I am sure that European governments will continue to support it,” said Bessent.
