President Trump spoke at the World Economic Forum at Davos, Switzerland. While there he worked out a deal whereby we locate bases on Greenland and possibly produce rare earth minerals there too, details to follow. Apparently the Danes keep ownership, and the whole thing is done under the aegis of NATO.
The threatened tariffs are no more, and ditto the threatened invasion. Apparently they were just Trump getting Europe's attention, making them feel better about the deal they ended up with. After the fact, wise heads are describing this as classical Trump bargaining rope-a-dope.
Seemingly, everyone except Trump underestimated how absolutely crucial the US market is to exporters the world over. Faced with a threatened tariff, nation after nation has caved and given him more-or-less what he wanted.
Back to the "deal" he declares himself happy with, we already had the right to locate military bases in Greenland, almost at will. What is new is that the other key NATO nations have signed onto the need to defend the high Arctic against hostile moves by either Russia or China.
Northern European nations already recognized the need; whether Southern Europe feels it or is just paying lip service is still unclear. Canada talks a good game but their diplomats are writing checks their half-hearted military is unable to cash.
Side note: the DrsC overnighted in Davos on a summer trip (WEF is in winter). There is a ski run but it was no Sun Valley, Vail, or Jackson Hole, in our view. I believe we bought a rare souvenir there, a bright red piggy bank with a white Swiss cross on each flank - our "Swiss bank."
Second side note: If you get the chance see video of Treasury Secretary Bessent at Davos describing CA Gov. Gavin Newsom as a cross between two fictional characters, one a serial killing sociopath (Patrick Bateman) and the other Barbie's boytoy Ken, adding that Gavin knew less about economics than Kamala Harris.
