What we covered here
• Greenland deal: US President Donald Trump said he has “formed the framework of a future deal” on Greenland after a meeting with the NATO chief Mark Rutte in Davos, Switzerland. Trump said new tariffs are no longer needed on European nations that opposed his ambitions.
• What’s in the framework: Part of the prospective deal includes renegotiating the 1951 agreement that formalized US military presence on the island, according to a person familiar with the matter. Separately, a NATO official told CNN the alliance discussed the possibility of Denmark allowing the US to build more military bases on land considered sovereign US territory.
• Speech in Davos: During his address, the US president ruled out using military force to acquire Greenland as he doubled-down on his demand for control of the island. Trump also issued harsh criticism of Europe and touted his domestic agenda.
Our live coverage has ended. Read takeaways from President Donald Trump’s speech at Davos here.
NATO is "not out of the woods" after Trump's tariff reversal, Sweden's deputy PM says
US President Donald Trump’s decision to suspend his threatened tariffs on European allies was welcomed, but a crisis involving the US and NATO has not yet been averted, Swedish Deputy Prime Minister Ebba Busch said Wednesday.
“We’re not out of the woods. And let’s be very clear. The last few weeks — apart from a very turbulent first year — have been very damaging for the relationship between the European Union, Europe as a whole, and the US,” Busch told CNN.
She said it was too soon to tell what the framework deal Trump announced really entails, warning that “today’s progress might be tomorrow’s headache.”
Busch went on to criticize Trump for sending mixed signals to his European allies, while also praising Europe for holding the line and pushing back against his threats.
Political headlines from across CNN that you should know today
The World Economic Forum Annual Meeting is in full swing in Switzerland, where leaders from across the globe are meeting to discuss an array of topics.
We’ve covered the forum and more at CNN throughout the day.
Get caught up here:
Trump’s hosts in Davos might abhor him — but he’s worth listening to
As Trump sows division, China says it’s the calm, dependable leader the world needs
Here’s why Russia, China and the US all have the Arctic in their sights
Treasury Secretary Bessent says Denmark and its investments in the US are “irrelevant
Davos is confronting two problems and Trump might be the easier one
Trump says he’ll “acquire” Greenland, but here’s what the Constitution says
Five takeaways from Trump’s antagonistic speech in Davos
The EU pushed back on Trump’s latest tariff threats. Hours later, he backed down
As Trump softens tone on Greenland and backs off his tariff threat, US stocks rally
Trump revels in Davos about making the rich even richer
We fact checked Trump’s barrage of false claims in Davos about Greenland and NATO
Trump has backed off on using military force to take Greenland. What does it mean?
After a “minor electrical issue,” Air Force One was forced to turn back as Trump was en route to Davos. The issue has raised questions about the aging aircraft.
After Newsom trolls Trump in Davos, one of his appearances is blocked
JPMorgan Chase CEO Jamie Dimon hesitates to criticize Trump…except for one plan he says will create “an economic disaster
And, in other news:
Supreme Court signals it will defy Trump to keep Lisa Cook on Federal Reserve
Jack Smith is “not afraid” of Trump, his legal team says ahead of his Thursday testimony
Speaking out against the Pentagon raised Mark Kelly’s profile. It came with a cost
Elizabeth Holmes asks President Donald Trump to let her out of prison early
Danish sovereignty over Greenland didn’t come up in talks with Trump, NATO chief says
NATO Secretary General Mark Rutte says Denmark’s sovereignty over Greenland wasn’t discussed during his conversation with US President Donald Trump on Wednesday.
Asked in an interview with Fox News if Greenland would remain with Denmark under the deal framework that Trump announced, Rutte replied: “That issue did not come up anymore in my conversation tonight.”
Instead, the talks focused on security in the Arctic, Rutte said.
Rutte acknowledged that “there’s a lot of work to be done” to make sure NATO has “everything needed on land, sea and air” to protect the region.
Asked by Fox about Greenlanders’ refusal to be “bought off,” Rutte said they had “a good agreement to really start working on these issues.”
Ukrainian official says he met with Kushner and Witkoff in Davos
Ukrainian negotiator Rustem Umerov said in a post on Telegram that he met with US President Donald Trump’s son-in-law Jared Kushner and US Special Envoy Steve Witkoff in Davos on Wednesday.
Their discussions focused on economic development, post-war plans for Ukraine, and security guarantees, Umerov said.
Witkoff met with Russian official Kirill Dmitriev in Davos yesterday.
Trump is expected to meet Ukrainian President Volodymyr Zelensky in Davos on Thursday, according to two people familiar with the matter.
White House says Greenland deal details will be released after they're finalized
The White House said Wednesday that details still need to be finalized “by all parties involved” in the Greenland framework deal President Donald Trump announced earlier in the day, and that they’ll be released after that.
Earlier, the president spoke to CNN about the framework.
President Donald Trump stopped short of saying his new framework deal for Greenland would include US ownership of the island. Asked by CNN’s Kaitlan Collins whether the deal fulfilled his desire to own Greenland, Trump paused for a moment to think before saying: “It’s a long-term deal.”
Emergency EU leaders meeting will still go ahead Thursday, spokesperson says
European Union leaders will still meet for an emergency summit on Thursday as planned, a council spokesperson told CNN.
The meeting is scheduled for 7 p.m. in Brussels as planned, despite US Donald Trump’s announcement on Greenland late Wednesday
Prospective Greenland deal framework includes renegotiating agreement over US military presence, source says
Part of the prospective framework on Greenland that President Donald Trump announced Wednesday includes renegotiating the 1951 agreement that formalized US military presence on the island, according to a person familiar with the matter.
That treaty between the US and Denmark allowed for American military presence in Greenland in perpetuity. During the Cold War, more than a dozen US military facilities were situated there.
All but one closed once the Cold War ended. But amid Trump’s threats to take over, Denmark had said it would welcome additional military resources. And NATO Secretary General Mark Rutte had been pushing such a renegotiation as a way to satisfy Trump’s demands.
How the treaty will be renegotiated isn’t clear. But one clue came in a statement from a NATO spokesperson, who said future negotiations would focus in part on “ensuring that Russia and China never gain a foothold - economically or militarily - in Greenland.”
That suggests an updated pact could include specific provisions barring Beijing and Moscow from operating in Greenland.
NATO officials have discussed granting US sovereignty over parcels of land in Greenland for new military bases
One proposal that was discussed in meetings on Wednesday among NATO officials, and that has been floated in previous discussions among members of the alliance and NATO Secretary General Mark Rutte, was the possibility of Denmark allowing the US to build more military bases in Greenland that would be constructed on land considered sovereign US territory, a NATO official told CNN.
Putin says Greenland "does not concern" Russia, but he tacitly encourages Trump
Russian President Vladimir Putin professed Wednesday that “what is happening with Greenland does not concern us at all,” but he quickly pivoted to tacit encouragement of a US acquisition of the Danish territory.
Saying that Russia has “experience in resolving similar issues with the United States,” he provided historical context that appeared to nod to US President Donald Trump’s ambitions.
Speaking at a security council meeting Wednesday, Putin pointed to Russia’s 1867 sale of Alaska, noting that the US purchased the territory for $7.2 million, a sum he estimated would equal $158 million today.
Putin then compared Alaska’s size to Greenland’s and suggested that, by similar logic, Greenland’s value could be “somewhere around $200–250 million,” or “closer to a billion” if calculated using historical gold prices.
He then cited another historical sale: Denmark’s 1917 sale of the Virgin Islands to the US.
Putin concluded by remarking to the gathering: “Incidentally, Denmark has always treated Greenland as a colony and treated it quite harshly, if not cruelly.”
European leaders have expressed fears that a US acquisition of Greenland against the will of Denmark or the Greenlandic people would weaken or even split NATO, handing Putin one of his major strategic goals.
European nations welcome Trump scrapping tariff threat
Several European countries have welcomed US President Donald Trump’s announcement to suspend his threatened tariffs on a number of allies for their support of Greenland.
Swedish Foreign Minister Maria Malmer Stenergard said it was good that Trump dropped this threat.
“The demands about moving borders has received well-earned criticism. That is also why we have repeated that we will not be blackmailed. It appears that our work together with allies has had an impact,” she said.
Italian Prime Minister Giorgia Meloni also welcomed the news, saying, “As Italy has always maintained, it is essential to continue fostering dialogue between allied nations.”
Irish Prime Minister Micheál Martin described Trump’s announcement as “good news,” saying that everyone involved needs to de-escalate the situation and focus on other areas, such as the economy.
Trump had threatened tariffs on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and the United Kingdom amid rising tensions around the American president’s bid to annex the Arctic island.
US stocks rally as Trump softens tone on Greenland, backs off tariff threat
US stocks rallied on Wednesday as President Donald Trump struck a softer tone on his confrontation with Europe over Greenland, saying he will not levy his recently threatened tariffs on imports from some European countries.
Stocks rebounded this morning after Trump said he would not use “excessive strength and force” to acquire Greenland. Stocks jumped higher and extended gains in the afternoon after Trump posted on social media saying he had a productive meeting with Mark Rutte, the secretary general of NATO, and will not be imposing his planned tariffs on European countries that were set for February 1.
Stocks finished the day with solid gains, regaining some ground after suffering their worst day since October on Tuesday.
The Dow gained 589 points, or 1.21%, reversing course after dropping 871 points on Tuesday. The S&P 500 closed higher by 1.16% and had its best day since late November. The tech-heavy Nasdaq rose 1.18% and had its best day in just over one month. The S&P 500 is just 1.6% away from a record high.
While uncertainty lingers about the framework of the “future deal” announced by Trump, Wall Street rallied on the shift in tone. The US dollar slightly strengthened against major currencies and Treasury bonds rallied, pushing yields lower.
Read more here.
Denmark welcomes Trump ruling out taking “Greenland by force," says foreign minister
Denmark welcomed US President Donald Trump’s announcement that he has ruled out taking “Greenland by force and paused the trade war” with European allies, Danish Foreign Minister Lars Lokke Rasmussen said.
The foreign minister said both sides still need to address the United States’ security concerns in the Arctic while respecting what he called Denmark’s red lines.
Here’s what to know since Trump announced he formed a “framework of a future deal” on Greenland
Just a few hours after his address at the World Economic Forum, US President Donald Trump announced he had “formed the framework of a future deal” on Greenland after a meeting with the NATO chief Mark Rutte in Davos, Switzerland.
US stocks jumped with this news.
Negotiations between Denmark, Greenland and the United States will “go forward,” NATO spokesperson Alison Hart said after Trump’s announcement. NATO allies will focus on securing the Arctic through “collective efforts.”
“The day is ending on a better note than it began,” Danish Foreign Minister Lars Lokke Rasmussen wrote on social media.
Here’s what you need to know:
The “infinite” deal: Asked by CNN’s Kaitlan Collins whether the deal fulfilled his desire to own Greenland, Trump said it’s the “ultimate long-term deal” that “puts everybody in a very good position.” Trump described the length of the deal as “infinite.”
No tariffs on European countries: As part of the framework announcement, Trump dropped this threat of tariffs on a number of European countries for their support of Greenland. Sweden welcomed the news.
NATO chief weighs in: NATO Secretary General Mark Rutte said that Trump’s Truth Social post about reaching a “framework” for a deal was “exactly to the point.”
Cost of Greenland: Trump earlier said he could envision paying a sum of money for Greenland now that he’s ruled out using military force to acquire it.
Learn more below about the importance of Greenland and the Arctic.
CNN's Nick Paton Walsh explains why the Arctic and Greenland is so important to Russia, to the United States, Canada and Norway.
CNN’s Kevin Liptak, Alejandra Jaramillo, Max Saltman and Jennifer Hansler contributed to the report.
NATO spokesperson says negotiations over Greenland will "go forward"
Negotiations between Denmark, Greenland and the United States will “go forward,” NATO’s spokesperson said on Wednesday, after US President Donald Trump reversed course on threatened tariffs following a “very productive” meeting with Secretary General Mark Rutte
NATO allies will focus on securing the Arctic through “collective efforts,” NATO spokesperson Alison Hart said.
“Discussions among NATO Allies on the framework the President referenced will focus on ensuring Arctic security through the collective efforts of Allies,” Hart said, “especially the seven Arctic Allies.”
Trump said in a post on Truth Social that he had developed a framework plan for a “future deal” over Greenland. The exact details of the framework remain unknown. Rutte earlier told journalists to “read the Truth Social post” when asked about the framework.
GOP lawmakers participate in Greenland cake-cutting at conservative event
A handful of House Republicans, who are allies of President Donald Trump, recently participated in cutting a cake in the shape of Greenland and decorated with the American flag.
Reps. Anna Paulina Luna of Florida, Andy Ogles of Tennessee and Abe Hamadeh of Arizona attended the event hosted by the conservative group Republicans for National Renewal, which promotes the America First agenda and a Trump third term. The event held Tuesday at the Kennedy Center celebrated the anniversary of Trump’s inauguration.
“51st state,” the group’s executive director could be heard saying as the Greenland cake was presented to the lawmakers, according to a video taken by an independent journalist.
Ogles has introduced a resolution that would amend the Constitution to allow Trump to serve a third term and legislation that would direct Congress to back Trump’s efforts to acquire Greenland.
CNN has reached out to the offices of Luna, Ogles and Hamadeh for comment.
Trump says Greenland framework is an "infinite" deal
President Donald Trump stopped short of saying his new framework deal for Greenland would include US ownership of the island.
Asked by CNN’s Kaitlan Collins whether the deal fulfilled his desire to own Greenland, Trump paused for a moment to think before saying: “It’s a long-term deal.”
Trump, who later described the length of the deal as “infinite,” described it as an agreement everyone is happy with, and that it meets his requirements for controlling Greenland.
Trump says Putin has accepted invitation to join his Gaza reconstruction Board of Peace
President Donald Trump said on Wednesday that Russian President Vladimir Putin has agreed to join his proposed Board of Peace, a body intended to oversee the reconstruction of Gaza.
“Because we want everybody. We want all nations. We want all nations where people have control, people have power, that way we are never going to have a problem. This is the greatest board ever assembled,” Trump said when asked by CNN’s Kaitlan Collins, why he would invite Putin.
The president acknowledged this would be controversial.
“Yeah, I have some controversial people on it, but these are people that get the job done,” he added.
“So he was invited. He’s accepted,” Trump said.
At a meeting Wednesday of the Russian Security Council, President Vladimir Putin did not commit to joining the Board of Peace but said his Foreign Ministry would “study the documents” and “consult with our strategic partners.” He also floated using Russian assets frozen in the US to pay the $1 billion fee for a permanent seat and for further reconstruction of Gaza.
NATO chief says Trump’s post about Greenland “framework” is “exactly to the point”
NATO Secretary General Mark Rutte said that US President Donald Trump’s Truth Social post about reaching a “framework” for a deal on Greenland was “exactly to the point.”
“His Truth Social post is exactly to the point, and I totally agree with that,” Rutte told reporters, saying he had a “very good meeting” with Trump.
Pressed for further questions, Rutte said, “Read the Truth Social post.”
“You will see everything,” Rutte added. “There will be more conversations.”
Dow surges 700 points after Trump backs off Greenland and tariff threats
US stocks jumped higher Wednesday afternoon after Trump posted on social media that he had a productive meeting with Mark Rutte, the Secretary General of NATO, and will not be imposing his planned tariffs on European countries that were set for February 1.
The Dow surged 722 points, or 1.49%. The S&P 500 rose 1.47% and the tech-heavy Nasdaq rose 1.6%. The S&P 500 is less than 1.5% away from a record high.
Stocks had already been moving higher throughout the day after Trump in the morning said he would not use “excessive strength and force” to acquire Greenland.
The sharp reversal prompted relief on Wall Street. Some analysts had expected Trump to back down from his tariff threats — a nod to the “Trump Always Chickens Out,” or TACO, trade. While uncertainty remains, Wall Street rallied on the shift in tone.
“Looks like it’s TACO Wednesday,” said Art Hogan, chief market strategist for B. Riley Financial.
