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US President Donald Trump has abruptly stepped back from threats to impose tariffs as leverage to seize Greenland, has ruled out the use of force, and says a deal is in sight to end a dispute over the Danish territory that risked the deepest rupture in transatlantic relations in decades.
On a whirlwind trip to the World Economic Forum annual meeting in Davos, Switzerland, Trump backed down from weeks of rhetoric that shook the NATO alliance and risked a new global trade war.
Instead, Trump said, Western Arctic allies could forge a new deal that satisfies his desire for a “Golden Dome” missile‑defence system and access to critical minerals while blocking Russia and China’s ambitions in the Arctic.
“It’s a deal that everybody’s very happy with,” Trump told reporters after emerging from a meeting with NATO secretary general Mark Rutte.
“It’s a long-term deal. It’s the ultimate long-term deal. It puts everybody in a really good position, especially as it pertains to security and to minerals.

“This is a permanent agreement,” a spokesperson stated.

A NATO spokesperson said seven NATO allies in the Arctic would work together to ensure their collective security.

The United States, Denmark, and Greenland are set to continue negotiations, aiming to prevent any economic or military influence from Russia and China in Greenland, according to the spokesperson.

Denmark’s Foreign Minister, Lars Lokke Rasmussen, emphasized the importance of concluding these talks while respecting Denmark’s sovereignty and honoring Greenland’s right to self-determination. He shared these sentiments during an interview with the public broadcaster, DR.
Trump said on his Truth Social platform that the US and NATO had “formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region”, and that “based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st”.
Denmark said the issue should be handled through private diplomacy rather than on social media.

President Donald Trump has assigned Vice President JD Vance, Secretary of State Marco Rubio, and Special Envoy Steve Witkoff to participate in the ongoing discussions.

Rasmussen said he had spoken with Rutte but declined to provide details on what had been agreed.
Greenland’s government did not reply to a request for comment.

Following his address at the World Economic Forum, President Trump spoke to the press. Source: Getty / Bloomberg

A man in a suit addresses waiting media.

Earlier, Trump acknowledged the unease his threats had caused in financial markets. Speaking at the Swiss Alpine resort, he assured that no forceful measures would be taken.

Earlier in the day, the Republican US president acknowledged financial markets’ discomfort with his threats and ruled out force in a speech at the Swiss Alpine resort.

“People thought I would use force, but I don’t have to use force,” Trump said. “I don’t want to use force. I won’t use force.”
The change in posture on tariffs sparked a stock market rally, with the S&P 500 .SPX index up 1.2 per cent. That added to the market’s recovery after the sharpest equities sell-off in three months.
NATO allies have been unnerved by Trump’s increasing threats to seize the territory from Denmark, which is a longtime US NATO ally.
But in his year in office, Trump has also repeatedly made severe threats that spooked markets, only to water them down or withdraw them completely.
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