Bessent brushes off Danish Treasury gross sales as ‘irrelevant’; Trump arrives in Davos as Greenland threats roil world, markets

[ad_1] US Treasury Secretary Scott Bessent shrugged off Denmark's sale of US Treasurys on Tuesday on the World Financial Discussion board in Davos.

“They’ve been promoting Treasurys for years, I’m not involved in any respect,” Bessent stated.

Trump arrived on the World Financial Discussion board in Davos, Switzerland, on Wednesday, as his revived tariff threats towards allies over his pursuit of Greenland have roiled markets and upended buying and selling relationships solid simply months earlier.

"As I expressed to everybody, very plainly, Greenland is crucial for Nationwide and World Safety. There might be no going again — On that, everybody agrees! The USA of America is probably the most highly effective Nation anyplace on the Globe, by far," Trump posted early Tuesday.

The US president is scheduled to carry conferences with European leaders who're livid over his escalating bid to take over Greenland, the territory of a fellow NATO ally in Denmark. Trump predicted to reporters Tuesday that "issues are going to work out fairly nicely," whilst he prompt "you may discover out" how far he's keen to go to amass the island.

Trump over the weekend stated the US would implement 10% tariffs on eight European international locations that he says are getting in the best way of a US buy of Greenland, rising to 25% on June 1 if no settlement is in place. The tariffs would start Feb. 1 and apply to "any and all items despatched to" the US.

Trump has additionally threatened 200% tariffs on French wine and champagne after France's chief Emmanuel Macron rejected Trump's name to hitch his peace initiative.

EU capitals have entered discussions to implement tariffs of as much as $108 billion on American merchandise after Trump posted his plan to levy new tariffs on Europe on Saturday . However Trump predicted that his Greenland pursuit wouldn't power the bloc to rethink its commerce settlement with the US or its pledged investments within the nation.

In the meantime, the US Supreme Courtroom's first three alternatives to problem a verdict this 12 months on the implications and legality of Trump's world duties on commerce companions have come and gone with no choice. The excessive court docket didn't hand down a ruling on Tuesday, and it's unclear when it might rule subsequent.

The Trump administration additionally made appeals to the court docket final 12 months, and in latest weeks, Trump has incessantly expressed concern over the ruling, saying shedding the power to tariff different international locations can be a "horrible blow" to the US.

Learn extra: What Trump promised with his 'Liberation Day' tariffs — and what he delivered

LIVE 61 updates Bessent dismisses Danish Treasury gross sales as ‘irrelevant’

US Treasury Secretary Scott Bessent dismissed Denmark's sale of US Treasurys on Tuesday on the World Financial Discussion board in Davos. Bessent stated he's 'not involved in any respect," and instructed reporters it's irrelevant.

“It’s lower than $100m,” the Treasury Secretary stated. “They’ve been promoting Treasurys for years, I’m not involved in any respect.”

Denmark has began to unload US belongings attributable to Trump's plan to take over Greenland.

On Tuesday, Danish pension operator AkademikerPension introduced it will be promoting $100 million in US Treasurys. Anders Schelde, AkademikerPension’s investing chief, said that it will do that attributable to "poor US authorities funds."

The "promote America" commerce has bounced again this week after Trump went to conflict with European leaders over Greenland. US shares and bond costs have dropped as tensions between the 2 sides escalate.

Trump additionally threatened to impose 200% tariffs on French wine and champagne, following France's chief, Emmanuel Macron, texting Trump and telling him he was "confused" over his option to take over Greenland and that he wouldn't be becoming a member of his Board of Peace for Gaza committee.

The US president stated on Monday that he'll impose 10% tariffs on the EU as a part of his push to amass Greenland; the duties would take impact on February 1 and would rise to 25%. Trump doubled down on his pursuit of Greenland on Tuesday as he headed to Davos, saying the EU "will not resist an excessive amount of."

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> EU ‘absolutely ready’ to hit again over Trump’s Greenland tariffs Bloomberg Information experiences:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> ECB's Lagarde sees little affect on inflation from extra tariffs Bloomberg news reports:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Novartis CEO: By mid-2026, we won't be 'uncovered to tariffs' Novartis ( NVS ) CEO Vas Narasimhan stated he expects the corporate's settlement with the US to assist protect it from any attainable tariffs.

In an interview with CNBC, Narasimhan stated that by the center of this 12 months, the corporate won't be "uncovered to tariffs."

Reuters experiences:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Tariffs are bumping up product costs: Amazon CEO Reuters reports:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/p7S65GyYypopyp3zhcjv_g--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2023-05%252F128dd290-f595-11ed-b4d8-cbe5a3d4e16f%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3D4032c266a6e3ad3af35e07e05b7f14a19b6e7fcb&compress=1&progressive=1&quality=75&client=hawkeye&signature=51fc62488f627e17b6456ed9c840a3a069d9e8bd" alt="Brett LoGiurato"/> Tue, January 20, 2026 at 9:31 PM UTC Trump doubts Greenland threats will spoil EU commerce deal From Bloomberg :

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Tue, January 20, 2026 at 9:56 AM UTC Market response to Trump's Greenland threats President Trump's pursuit of Greenland has brought on widespread concern, with European leaders expressing confusion on the president's actions and protests going down in Greenland. Markets have additionally been affected by the Trump administration's newest strikes.

This is how totally different pockets are reacting to Trump's newest pursuit.

US futures: Nasdaq 100 futures ( NQ=F ) fell as a lot as 2%, whereas the Dow Jones Industrial Common futures ( YM=F ) pulled again 1.6% and S&P 500 futures ( ES=F ) fell 1.8%, as commerce tensions escalated attributable to Trump's Greenland threats.

Bonds: Bond costs dropped , because the threats made US investments look much less enticing and raised fears that costs for items would rise. The most important losses had been in long-term bonds; the 30-year Treasury yield rose to above 4.90%.

Greenback: The greenback fell to its lowest degree in two weeks and foreign money hedging prices climbed as President Donald Trump confirmed no indicators of backing down in his marketing campaign for management of Greenland and threatened new tariffs on France.

French wine and champagne makers: Shares of French corporations that make or are exposed to wine and spirits had been hit. Champagne Luxurious large LVMH ( MC.PA ) — the proprietor of beverage manufacturers like Veuve Clicquot ( VRV.F ) and Krug — was 2% decrease, whereas peer Remy Cointreau ( RMC.BE ) shed 2%, and Laurent-Perrier ( LPE.DU ) dipped 1%.

Gold: Gold ( GC=F ) rose previous $4,700 an oz to a document excessive, whereas silver additionally reached an all-time peak.

<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Tue, January 20, 2026 at 9:34 AM UTC Trump repeats Greenland claims, says EU gained’t push again laborious President Trump doubled down on his pursuit of Greenland on Monday, talking in Florida, he stated the EU will not resist an excessive amount of.

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Tue, January 20, 2026 at 9:27 AM UTC US Treasury Secretary Bessent brushes off 'hysteria' over Greenland-spurred commerce conflict Reuters reports :

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Tue, January 20, 2026 at 9:23 AM UTC Trump floats 200% champagne tariff and divulges Macron’s textual content President Trump took a swipe at French chief Emmanuel Macron on Monday, saying he would put 200% tariffs on French wine and champagne following Macron's choice to not be part of his peace initiative.

“No one desires him as a result of he’s going to be out of workplace very quickly,” Trump instructed reporters.“I’ll put a 200% tariff on his wines and champagnes and he’ll be part of,” he added.

Macron declined Trump's request attributable to his pursuit of Greenland, sending a textual content to the US president.

The Trump administration established the Board of Peace for Gaza over the weekend. It consists of Russian President Vladimir Putin, Argentine President Javier Milei, and Canadian Prime Minister Mark Carney. Different invitees embrace Turkey’s President Recep Tayyip Erdogan and Brazil’s chief Luiz Inacio Lula da Silva.

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Mon, January 19, 2026 at 10:00 PM UTC EU weaponizing US belongings a threat: Deutsche Financial institution Deutsche Financial institution ( DB ) has warned that if President Trump retains up his threats of tariffs on Europe over Greenland, the European governments may begin promoting off their US belongings, price round $8 trillion. The outcomes might result in a weaker US financial system and greenback. The transfer might additionally make the euro stronger, as traders transfer their cash out of the US and again into Europe.

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Mon, January 19, 2026 at 6:00 PM UTC Goldman economists see restricted US tariff hit to European development Bloomberg News reports:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Mon, January 19, 2026 at 1:59 PM UTC People bear virtually all the price of Trump tariffs A research, performed by a German suppose tank, has concluded that American importers are paying virtually totally for President Trump's tariffs on imported items.

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Mon, January 19, 2026 at 10:18 AM UTC Trump hyperlinks Greenland threats to Nobel Peace Prize snub President Trump has claimed in a letter to the Norwegian Prime Minister Jonas Gahr Stor that his need to buy Greenland is because of his not being awarded the Nobel Peace Prize.

Trump initially stated that his claims on Greenland associated to causes of nationwide safety; some have claimed it might come all the way down to Greenland's provide of pure minerals.

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Mon, January 19, 2026 at 10:11 AM UTC Europe can wield this $8T ‘promote America’ weapon as Trump reignites a commerce conflict over Greenland Because the EU weighs retaliatory measures towards President Trump attributable to his 10% tariff menace, consultants imagine the EU's biggest weapon in its arsenal could also be its monetary markets.

Fortune experiences:

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Mon, January 19, 2026 at 10:06 AM UTC EU eyes tariffs on $108 billion of US items over new Trump menace The European Union is trying to impose tariffs on $108 billion of US items after President Trump threatened to hit European international locations with a ten% levy. Relations between the EU and the US began to unravel over the weekend as Trump continued his pursuit of Greenland. The US president stated he would unleash 10% tariffs on items from eight European international locations ranging from February 1, rising to 25% in June, except a deal is struck on the "buy of Greenland."

Trump issued the menace after the EU stated it will undertake token NATO navy planning workouts within the semi-autonomous Danish territory.

It isn't simply tariffs that the EU is trying to impose. Its 27 international locations met Sunday to debate choices; the union can be weighing extra countermeasures past the tariffs.

Trump has been eager to buy Greenland since he returned to workplace, framing it as important for nationwide safety causes and saying he'll take the island the "straightforward approach" or the "laborious approach