US President Donald Trump yesterday withdrew his plan to impose tariffs on eight European countries.

The decision was made after Trump secured a framework agreement for the future with the North Atlantic Treaty Organization (NATO) regarding Greenland.

This announcement was made after a meeting between President Trump and NATO Secretary General Mark Rutte on the sidelines of the World Economic Forum in Davos, Switzerland.

Although details have not been released, President Trump described the agreement as long-term, even indefinite, emphasizing that it is not about money and that the parties are currently finalizing the specifics. When asked whether the US would gain ownership of Greenland, Trump only said it was a "long-term deal."

President Trump stressed that discussions would continue, including an initiative called the Golden Dome related to security in Greenland.

In recent weeks, the US government has raised the possibility of buying Greenland, or even using US military force to seize control, even though the island is Danish territory – a NATO ally.

Danish and Greenlandic officials have rejected the US proposal, reaffirming that Greenland is not for sale. As tensions escalate, a number of European NATO countries have increased their military presence in the region. In response, Trump threatened to impose new tariffs on these eight countries, starting at 10% next month and rising to 25% in June.

Also on January 21st, in a speech at the World Economic Forum in Davos, President Trump presented the argument that the US needed to acquire Greenland for national security reasons. However, he affirmed that he would not use military force to pursue the territory, showing a clear shift from his previous stance.

In an interview with CNN, Trump declined to specify whether the new framework included the U.S. acquiring ownership of Greenland, but stressed that it was a high-level, long-term agreement that put the U.S. and its allies in a favorable position.

The stock market, which had plummeted the previous day due to the US president's increasingly tough stance on Greenland, immediately recovered.

Source: VTV

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