President Donald Trump stated that he had a “very good” call with Mark Rutte, the Secretary General of NATO, and revealed plans for a crucial meeting concerning Greenland in Davos, Switzerland.

Trump took to Truth Social early Tuesday to state that “everyone agrees” that the Arctic island is “Imperative” for national and global security. He also asserted that there “can be no going back” on this issue.

Mark Rutte on Sunday had posted about a call with Trump on Greenland and stated that they are committed to “continue working on this.”

“This is of utmost importance to our transatlantic relationship,” she stated.

Trade Fears Spark Global Sell-Off

Trump’s decision to convene a meeting on Greenland is significant in light of the escalating trade tensions amid his tariff threats on Europe. These threats have sparked renewed trade tensions, leading to a global stock sell-off and a surge in gold and silver prices on Monday, as strong defensive demand and momentum fueled the metals rally.

Meanwhile, European stocks, including Euro STOXX 50, Germany's DAX, France's CAC 40 and the UK's FTSE 100, saw major sell-offs. U.S. equity index futures fell sharply during European trading hours, even as Wall Street cash markets remained closed for the Martin Luther King Jr. Day holiday.

The European Union, in response to Trump’s tariff threats, is reportedly considering a range of countermeasures, including trade retaliation and a potential “bazooka” trade tool. This tool, never before used, would grant the EU broad powers to impose export controls, levy tariffs on services, and more. The EU is expected to take action after the new tariffs come into effect on February 1.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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