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Bessent says US-Europe relations have ‘never been closer’ despite Greenland crisis
Scott Bessent, US Secretary of the Treasury, holds a speech at the USA House during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Tuesday, Jan. 20, 2026. (AP Photo/Markus Schreiber)
People protest against Trump’s policy towards Greenland in front of the US consulate in Nuuk, Greenland, Saturday, Jan. 17, 2026. (AP Photo/Evgeniy Maloletka)
European Union foreign policy chief Kaja Kallas, center, greets Minister for Foreign Affairs and Research of Greenland Vivian Motzfeldt, right, and Denmark’s Defense Minister Troels Lund Poulsen, left, prior to a meeting at EU headquarters in Brussels, Monday, Jan. 19, 2026. (AP Photo/Geert Vanden Wijngaert)
Dow set to fall more than 300 points on Trump’s new tariff threat over Greenland: Live updates
Stock futures pointed to a downbeat session on Wall Street on Tuesday morning as President Donald Trump intensified his rhetoric on Greenland, threatening to impose new tariffs on countries opposing the sale of the Danish territory to the United States.
Futures data last pointed to an implied open of a 630-point decline for the Dow Jones Industrial Average. The S&P 500 is poised to shed 93 points, or around 1.3%, while the implied open for the Nasdaq was last pointing to a drop of 405 points, or 1.6%.
Trump announced in a Truth Social post on Saturday that eight NATO members' U.S. imports will face escalating tariffs "until such time as a Deal is reached for the Complete and Total purchase of Greenland." The tariffs will start at 10% on Feb. 1 and rise to 25% on June 1, Trump said.
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