Bessent urges Europe not to retaliate against Trump’s Greenland tariffs

The Guardian - World NewsCenter-LeftEN 4 min read 100% complete by Graeme Wearden in Davos and Julia KolleweJanuary 20, 2026 at 10:54 AM

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US Treasury Secretary Scott Bessent urged European countries not to retaliate against potential US tariffs related to the Greenland crisis at the World Economic Forum in Davos. Bessent advised a "wait and see" approach, cautioning against escalating trade tensions, referencing the previous US-China trade war. He argued that retaliatory tariffs would be unwise and emphasized the importance of adhering to existing trade agreements. Bessent dismissed concerns that European countries would sell their US debt holdings in response, calling it a "false narrative." His comments come after President Trump threatened tariffs on European countries in his pursuit of acquiring Greenland, causing uncertainty in global stock markets. Bessent accused the media of being "hysterical" regarding the potential economic fallout.

Key Entities & Roles

Key Player Opposition Context

Davos 30% George Saravelos ×230% China 40% Deutsche Bank ×240% World Economic Forum 50% Donald Trump ×260% Greenland ×370% Europe ×370% United States ×680% Scott Bessent ×890%

Keywords

trade tariffs 90% greenland crisis 80% retaliation 70% scott bessent 70% us debt 60% trade deals 60% donald trump 60% economic uncertainty 50% global stock markets 50%