US Treasury Secretary Scott Bessent says EU retaliatory tariffs over Trump’s Greenland push would be “unwise”, citing strategic security concerns.
DAVOS: US Treasury Secretary Scott Bessent warned European nations on Monday that imposing retaliatory tariffs over President Donald Trump’s push for Greenland would be “very unwise”.
Bessent made the remarks to reporters on the sidelines of the World Economic Forum in the Swiss ski resort.
He stated that Trump seeks control of the autonomous Danish territory because he views it as a “strategic asset”.
“We are not going to outsource our hemispheric security to anyone else,” Bessent said.
Trump announced that from February 1, an eight-nation bloc including Britain, Denmark, and Germany would face a 10% tariff on all US-bound goods until Denmark cedes Greenland.
The threat has prompted accusations of “blackmail” from US allies, with Germany’s vice chancellor confirming Europe is preparing countermeasures.
Asked about a potential deal that avoids acquiring Greenland, Bessent advised taking “President Trump at his word for now”.
“How did the US get the Panama Canal? We bought it from the French,” he told journalists.
“How did the US get the US Virgin Islands? We bought it from the Danes.”
Bessent reiterated Greenland’s strategic value due to its rare earth mineral deposits, critical for advanced technologies.
He questioned Denmark’s reliability, noting it “already allowed Chinese mining in Greenland”.
“What if one day they were worried about antagonising the Chinese?” Bessent added.
When asked about Trump’s letter to Norway’s prime minister linking the Greenland push to the Nobel Peace Prize, Bessent claimed ignorance of the correspondence.
“I think it’s a complete canard that the president will be doing this because of the Nobel Prize,” he stated.