Trump drops ‘Europe tariffs’ after securing Greenland minerals

“We got everything we wanted”

NATO agrees on ‘Arctic framework’

U.S. President Donald Trump on the 21st (local time) rescinded tariffs he had planned to impose on eight European countries that oppose the U.S. annexation of Greenland. He said the move followed the creation of a “future framework” (an agreement framework) covering Greenland and the entire Arctic region.

Trump, posting on social media while attending the Davos Forum in Switzerland, said he had held “a very productive meeting with Mark Rutte, secretary general of the North Atlantic Treaty Organization (NATO).” He added that “if this solution is finalized, it will be good for the United States as well as for all NATO member countries.”

Trump said that, based on this agreement framework, he had decided not to impose the 10% tariff that was set to take effect on Feb. 1 on the eight European countries that have deployed troops to Greenland.

While he did not disclose specific details, Trump later told CNBC that under the framework agreed between the U.S. and Europe, both sides would cooperate on the Golden Dome project—a next-generation missile defense system—and on mining rights for mineral resources.

Asked about the duration of the pact, he said “forever.” He also told reporters, “We got everything we wanted.” Foreign media interpreted the agreement as one that significantly expands U.S. access rights to Greenland while leaving Denmark’s sovereignty intact.

As tensions over Greenland that had rattled NATO eased, U.S. stocks rose in New York that day, and U.S. Treasury yields fell (with bond prices rising).

Washington=Lee Sang-eun, correspondent selee@hankyung.com