Trump calls Denmark 'ungrateful' — but tells Davos forum he 'won't use force' to acquire Greenland

A few minutes ago, Trump said he is withdrawing his threat to impose further tariffs on a group of European countries over the Greenland issue, after reaching a deal with NATO on plans for the territory and "the entire Arctic region."

"Based upon this understanding, I will not be imposing the tariffs that were scheduled to go into effect on February 1," Trump wrote on Truth Social after his speech and after meeting NATO Secretary General Mark Rutte in Davos.

Trump did not elaborate on details of a deal in his post but said "further information will be made available as discussions progress."

Trump's speech laid out in more detail than ever before his reasons for wanting the U.S. to control Greenland, and in doing so revealed more holes in his arguments.

His announcement that the U.S. won't use military force against a NATO ally (Denmark) to take some of its territory (Greenland) is dominating today's headlines. But a closer reading of that statement reveals that Trump's case is littered with contradictions.

He minimized the significance of his demand for Greenland as "a very small ask" for "a piece of ice," yet maximized the importance of owning the Arctic island as essential for U.S. national security.

He described Russia as a threat to Greenland, despite scant evidence that's true, while downplaying its threat to Europe, despite Russia's actual invasion of Ukraine.

And while he backed down from using military force to take over Greenland, he continued to threaten economic force to get his way.

One of the starkest lines in Trump's speech is a more ominous phrasing of his previous comments that Denmark will hand over Greenland either "the easy way" or "the hard way."

"You can say yes and we will be very appreciative, or you can say no, and we will remember," Trump said.

The U.S. president's speech in Davos today was over an hour long, as his speeches often are. 

Here are some takeaways:

• Trump vaunted his administration's economic and immigration policies, and took jabs at perceived opponents, including former president Joe Biden, Minnesota Democrat Rep. Ilhan Omar, Federal Reserve chair Jerome Powell — and addressed Prime Minister Mark Carney directly, calling him "Mark" and saying Canada "lives because of the United States." 
• On the heels of tariff threats to European nations, Trump said he was seeking "immediate negotiations" to purchase Greenland and said it was of "strategic international importance" for the U.S. to run it for security reasons. 
• Despite repeatedly returning to the subject, Trump said he would not "use force" to acquire Greenland, leading to an apparent sigh of relief by Denmark, whose foreign minister said the assertion was positive and that the European nation would maintain its diplomatic track in discussions. 
• Trump took vague swipes at "Europe" at the beginning of his speech, saying, "It's horrible what they've done to themselves." Over the weekend, eight European Union countries defended Greenland's sovereignty in the face of Trump's annexation threats. 
• The U.S. president said he's still seeking to broker a deal between Russia and Ukraine and that he will be meeting with Ukrainian President Volodymyr Zelenskyy on Thursday.

Before taking off from Davos (and without meeting with Trump), Carney met with Mark Rutte, the Secretary General of NATO. 

The Prime Minister's Office said the two "reaffirmed their mutual commitment to the sovereignty and territorial integrity of Denmark, including Greenland" and spoke about a need to reinforce security in the Arctic.

"This includes the Arctic Over-the-Horizon Radar, year-round presence across land, air, and sea, and new critical infrastructure," the statement said. 

They also discussed ongoing peace talks on Ukraine and support for "advancing Ukraine's peace and security."

I'm Peter Armstrong, CBC's senior business correspondent.

Stock markets bounced back as Trump spoke in Davos. The speech was at times menacing and at times rambling. But investors have glommed onto one key line in the speech: Trump said he would not use force to acquire Greenland.

Investors drove stocks higher after a sell off yesterday.

Trump sent out market signals again, saying: "Our stock market dip is peanuts. That stock market is going to be doubled. The Dow is going to hit 50,000 and double to 100,000 in a relatively short period of time."

Trump at first said he would meet Ukraine's President Volodymyr Zelenskyy later today but now says the meeting will be Thursday. Zelenskyy isn’t in Davos. This morning, he was in Ukraine, where he had a special call to discuss the energy crisis given that 4,000 buildings in Kyiv are currently without heat due to Russian strikes on infrastructure. We have asked Zelenskyy’s press secretary whether he is going to Davos now.

During the Q&A session after his speech at Davos, Trump said that negotiators are "reasonably close" to a deal to end the war between Russia and Ukraine. He said he believed that Putin and Zelenskyy both wanted a deal, and that if they aren't able to get it done "they’re stupid." He said that both Zelenskyy and Putin have "tremendous hatred" between them.

After once again insulting U.S. Congress member Ilhan Omar, who was born in Somalia, which Trump said "isn't even a country," the president went on to congratulate people in the crowd at Davos for their success.

The forum is known for its exclusive access to the extremely wealthy and members of the elite.

"The United States is back, bigger, stronger, better than ever before, and I'll see you around," Trump said, ending his more than hour-long speech.

Trump repeated some of the claims he made yesterday when listing his administration's "accomplishments" from the past year.

He spoke about cracking down on immigration at the border and on alleged fraud in Minnesota, which he has repeatedly and baselessly blamed on "Somalian bandits."

"They turned out to be higher IQ than we thought," Trump said. The president often directs such insults at people of colour and women.

"You know, they're pirates. They're good pirates, but we shoot them out of the water just like we shoot the drug boats," Trump said to groans in the crowd, according to The Associated Press.

Protests continue in Minnesota despite significant use of force by federal law enforcement, including by Immigration and Customs Enforcement (ICE). The protest movement grew after an ICE agent shot and killed Renee Nicole Good earlier this month.

Trump has previously linked his administration's crackdown against Minnesota’s large Somali community to a series of fraud cases involving government programs in which most of the defendants have roots in the East African country.

Prosecutors have said it was the country's largest COVID-19-related fraud scam and that defendants exploited a state-run, federally funded program intended to provide food for children.

Trump referenced Canada again when speaking about his tariff plan that he says is supposedly bringing "hundreds of big factories [and] car plants" back to the United States.

"[They're] coming in from Canada, coming in from Mexico, from Japan. Japan's coming in and building plants here in order to avoid tariffs," Trump said.

At a White House news conference to mark one year since his second inauguration on Tuesday, Trump also cited trouble in Canada's automotive industry as one of his self-described accomplishments.

Auto assembly plants in Brampton and Ingersoll, Ont., have been idled since Trump launched his trade war. And some automakers like General Motors and Chrysler parent company Stellantis have announced new investments in the U.S.

But, despite the president's rhetoric, U.S. Bureau of Labor Statistics preliminary data show there has actually been a contraction in auto industry jobs south of the border over the last year.

Trump later turned back to the topic he was supposed to discuss: the United States, including saying he lowered drug prices by "2,000 per cent" (a mathematical impossibility) and had brought the cost of living down. He also called former president Joe Biden "horrible," continuing a series of swipes he took at his presidential predecessor in his White House press briefing speech yesterday, too.