# Trump Takes Europe to the Brink on Greenland

An episode of [Big Take](https://invisiblenetwork.ai/podcast/1578096201), 21 Jan 2026, 19 min.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/825d4e29-b616-46f4-afd7-ae2b0013005c/7cf28ce3-5ca9-45a1-bbf3-b3d901793b70/audio.mp3?utm_source=Podcast&in_playlist=8b1dd624-a026-43e9-8b57-ae2b00130066

In an unprecedented speech at the World Economic Forum in Davos, Switzerland, President Donald Trump ruled out taking Greenland by military force, but made his case for the US purchasing what he described as a “large piece of ice” — and vowed to “remember” if he didn’t get his way. On today’s Big Take podcast, executive editor Flavia Krause-Jackson joins host David Gura to recap Trump’s stunning speech, the swift reaction from his peers and NATO allies and what, ultimately, could come next. Hosted by David Gura; Produced by David Fox; Reported by Flavia Krause-Jackson; Edited by Jeffrey Grocott. Fact-checking by Rachael Lewis-Krisky; Engineering by Alex Sigura. Senior Producer: Naomi Shavin; Deputy Executive Producer: Julia Weaver. Executive Producer: Nicole Beemsterboer. See omnystudio.com/listener for privacy information.

## Transcript

[0:00] Speaker 1: Bloomberg Audio Studios, podcasts, radio news. Now, what I'm asking
[0:08] Speaker 1: for is a piece of ice, cold and poorly located
[0:14] Speaker 1: that can play a vital role in world peace and
[0:18] Speaker 1: world protection.
[0:20] Speaker 2: Today, at the annual meeting of the World Economic Forum
[0:23] Speaker 2: in Davos, Switzerland, Preston Trump laid out his most detailed
[0:27] Speaker 2: case yet for why the United States should take over Greenland.
[0:31] Speaker 2: Trump said the US needs it for national security reasons,
[0:34] Speaker 2: and the US is owed it because of how much
[0:37] Speaker 2: the country has given its allies.
[0:39] Speaker 1: It's a very small ask compared to what we have
[0:42] Speaker 1: given them for many, many decades.
[0:47] Speaker 2: In the run up to the president speech, the leaders
[0:49] Speaker 2: of Canada, France, and the United Kingdom responded to what
[0:52] Speaker 2: Trump has said and posted about Greenland, including threats to
[0:56] Speaker 2: tear iff European trading partners over the issue, and signaled
[0:59] Speaker 2: it could lead to the end of a global order
[1:02] Speaker 2: that's been in place since World War Two.
[1:04] Speaker 3: The rules based order is fading. That the strong can
[1:08] Speaker 3: do what they can and the week must suffer what
[1:11] Speaker 3: they must.
[1:12] Speaker 1: When we look at the situation, it's it's clearly a
[1:15] Speaker 1: very concerning time.
[1:16] Speaker 4: The use of tariffs against allies is completely wrong.
[1:22] Speaker 2: It is not the right way.
[1:24] Speaker 4: To resolve differences within an alia.
[1:27] Speaker 2: So by the time Trump took the podium.
[1:30] Speaker 1: So many friends, few enemies.
[1:33] Speaker 2: Many of the prime ministers and presidents and senior executives
[1:37] Speaker 2: in the audience were on edge.
[1:39] Speaker 4: He really turned the volume up, amped up the pressure
[1:41] Speaker 4: by just you know, leaving everyone guessing, you know, is
[1:45] Speaker 4: he going to invade Greenland? What is he going to do?
[1:48] Speaker 2: That's Flavia Kraus Jackson, who oversees our economic and political
[1:51] Speaker 2: coverage in Europe. She watched the speech in Davos.
[1:55] Speaker 4: He made two big items of news. One he said,
[1:58] Speaker 4: I'm not going to invade.
[2:00] Speaker 1: We never asked for anything, and we never got anything.
[2:04] Speaker 1: We probably won't get anything unless I decide to use
[2:07] Speaker 1: excessive strength and force, where we would be frankly unstoppable.
[2:13] Speaker 1: But I won't do that.
[2:16] Speaker 4: And then he said, but I'm going to put an
[2:18] Speaker 4: offer on the.
[2:18] Speaker 2: Table, so they have a choice.
[2:22] Speaker 1: You can say yes and we will be very appreciative,
[2:26] Speaker 1: or you can say no and we will remember.
[2:31] Speaker 4: The offer that he put on the table was almost like,
[2:34] Speaker 4: I offer not to invade you, so you sell me
[2:37] Speaker 4: the island. I'll make an offer you can't refuse. It's
[2:40] Speaker 4: like something out of The Godfather.
[2:42] Speaker 2: As world leaders and the rest of US processed what
[2:45] Speaker 2: Trump said, the president began a series of meetings. After
[2:48] Speaker 2: he sat down with NATO Secretary General Mark Route, Trump
[2:51] Speaker 2: posted an update on social media. The president said he
[2:55] Speaker 2: decided not to impose the new tariffs he'd threatened on
[2:57] Speaker 2: European allies, and to head quote, formed the framework of
[3:01] Speaker 2: a future deal with respect to Greenland and in fact,
[3:04] Speaker 2: the entire Arctic region. I'm David Gerrett, and this is
[3:14] Speaker 2: the big take from Bloomberg News Today. On the show,
[3:16] Speaker 2: President Trump's collision with long standing US allies over Greenland
[3:21] Speaker 2: and how Canada and Europe will respond. By the time
[3:31] Speaker 2: President Trump arrived in Davos, he'd upended the agenda at
[3:34] Speaker 2: the World Economic Forum's annual meeting. His speech became the
[3:38] Speaker 2: marquee event, but many other world leaders decided to skip it.
[3:42] Speaker 2: In an address that was about an hour long, the
[3:45] Speaker 2: President made his case for the US taking over Greenland
[3:48] Speaker 2: over and over again. I asked Bloomberg's Flavia kraus Jackson
[3:52] Speaker 2: what we learned about how he plans to proceed. What
[3:55] Speaker 2: did we hear from President Trump in terms of what
[3:58] Speaker 2: his motivations are for doing this, the rationality he sees
[4:01] Speaker 2: it for the US taking or requiring this large island.
[4:05] Speaker 4: Right, I mean, Trump has rattled off a series of
[4:09] Speaker 4: reasons of why he feels Venam should belong to the US.
[4:13] Speaker 4: He usually uses this argument of rare earths, which is
[4:16] Speaker 4: very vague and generic, and it's a sort of catch
[4:18] Speaker 4: all for many things in his understanding of the world.
[4:22] Speaker 1: But there's so much rare earth then this. To get
[4:26] Speaker 1: to this rare earth, you got to go through hundreds
[4:30] Speaker 1: of feet of ice. That's not the reason we need it.
[4:33] Speaker 1: We need it for strategic national security.
[4:37] Speaker 4: Then there is a national security aspect which is very
[4:40] Speaker 4: much the sort of the great game of you know,
[4:43] Speaker 4: the big powers that be spheares of influence, which is
[4:46] Speaker 4: very much how Trump sees the world. Right, western hemisphere
[4:50] Speaker 4: is mine, So Canada, fifty first state, greenland, massive slab
[4:54] Speaker 4: of ice, as he calls it, huge island, belongs to me.
[4:58] Speaker 4: Venezuela in the back.
[5:00] Speaker 2: What we want from Denmark.
[5:04] Speaker 1: For national and international security and to keep our very
[5:08] Speaker 1: energetic and dangerous potential enemies at bay is this land
[5:13] Speaker 1: on which we're going to build the greatest Golden dome
[5:16] Speaker 1: ever built.
[5:17] Speaker 4: So if you put it in terms of you know
[5:19] Speaker 4: what he calls the donro doc Oran whishes us of
[5:22] Speaker 4: homage to Monroe, it's much easier to understand where all
[5:27] Speaker 4: of this fits in.
[5:28] Speaker 2: Something else that's helpful, Flavia suggests, is to think about
[5:31] Speaker 2: President Trump's background.
[5:33] Speaker 4: He's a real estate guy, and it seeps into his language.
[5:37] Speaker 4: I mean, because they're saying, well, you already have a
[5:39] Speaker 4: base here. If you want to send more people, you can,
[5:42] Speaker 4: And he was like, yeah, but I want to own.
[5:45] Speaker 1: It because you need the ownership to defend it. You
[5:48] Speaker 1: can't defend it or a lease. Number one, legally, it's
[5:53] Speaker 1: not defensible that way totally. And number two psychologically, who
[5:58] Speaker 1: the hell wants to defend a license agreement or at least.
[6:04] Speaker 4: And I think it's also worth remembering, Look, he held
[6:07] Speaker 4: the summit with Putin in Alaska. You know, Alaska was
[6:10] Speaker 4: sold by the Russians to the Americans. He's like, great,
[6:14] Speaker 4: this is done before, why can't we do it again? Oh?
[6:16] Speaker 4: You know he probably read, you know, read somewhere that
[6:18] Speaker 4: you know, the US had a crack at buying a
[6:22] Speaker 4: green land back then. He's like, well, they didn't close
[6:25] Speaker 4: the deal, but I can, so I think through that
[6:28] Speaker 4: lens you start to understand, you know, and he says
[6:31] Speaker 4: he loves maps. You look at the map. It's massive,
[6:34] Speaker 4: but he's also very dismissive of it, and he doesn't
[6:36] Speaker 4: understand why they won't give it to him. He's like, oh,
[6:38] Speaker 4: it's just a slab of ice, uninhabited, right. So I
[6:43] Speaker 4: think to hear the stream of consciousness on stage was
[6:46] Speaker 4: probably the clearest sense of like where he's coming at.
[6:50] Speaker 2: What did we learn in that speech about how far
[6:52] Speaker 2: he's willing to go to acquire this territory.
[6:55] Speaker 4: I think he's willing to go pretty damn far. And
[6:57] Speaker 4: I think it's also I mean, one thing that you
[6:59] Speaker 4: also noticed about Trump's approach is that no deal is
[7:03] Speaker 4: that can't be broken, ripped up, renegotiated. So just because
[7:07] Speaker 4: he said today I won't invade doesn't mean that in
[7:10] Speaker 4: two weeks time he decides. You know what I've reconsidered.
[7:13] Speaker 2: I felt like the US and NATO were in this
[7:16] Speaker 2: new good place, that President Trump had wielded his influence
[7:19] Speaker 2: to get member states to pay more money to the alliance,
[7:23] Speaker 2: and yet the rhetoric toward NATO in the President's comments
[7:27] Speaker 2: dispelled that sense. He was highly critical of NATO alliance.
[7:32] Speaker 1: The United States is treated very unfairly by NATO, I
[7:36] Speaker 1: want to tell you that, and when you think about it,
[7:39] Speaker 1: nobody can dispute it. We give so much and we
[7:43] Speaker 1: get so little in return.
[7:45] Speaker 2: And just to dovetail, these two things made it almost
[7:48] Speaker 2: seem as though NATO owes him Greenland because of what
[7:51] Speaker 2: the US has done over these last many decades, right.
[7:54] Speaker 4: I mean, I think there was a great deal of
[7:57] Speaker 4: revisionism of history, which is something, for example, that Trump
[8:01] Speaker 4: had in common with Putin also has his own alternative
[8:05] Speaker 4: view of the history of Ukraine. What I would say
[8:09] Speaker 4: is that NATO is on its knees, and I would
[8:14] Speaker 4: say that you're probably looking at a world where Mark
[8:17] Speaker 4: Rotin might well be the last Secretary General of NATO.
[8:20] Speaker 4: Because the whole way was conceived is in a world
[8:25] Speaker 4: where the US is largess and generosity and policemen of
[8:30] Speaker 4: the world and looking out for it's all. It underpins
[8:34] Speaker 4: the entire way that Europe came to see itself after
[8:38] Speaker 4: the end of World War Two. And it wasn't based
[8:41] Speaker 4: on transactionalism, based on the Marshall Plan, and it was
[8:45] Speaker 4: based on. Yes, the US wants to have a physical
[8:49] Speaker 4: presence of troops in Germany, and we will allow this
[8:53] Speaker 4: to happen because it's a deterrent. Once you start questioning, well,
[8:56] Speaker 4: why do I have soldiers there? And you must pay
[8:59] Speaker 4: me to have this presence, you're essentially turning the whole
[9:01] Speaker 4: argument on its head.
[9:04] Speaker 2: Flavy, there was a sell off in the run up
[9:06] Speaker 2: to this speech, but market seems there, I say, pretty
[9:09] Speaker 2: complacent as President Trump spoke. How do you interpret the
[9:12] Speaker 2: way investors are looking at, Yes, the President's comments, but
[9:16] Speaker 2: more broadly the position he's taken on Greenland and on
[9:19] Speaker 2: these multilateral alliances.
[9:21] Speaker 4: Yeah. I mean, I think there's a really interesting piece
[9:23] Speaker 4: that we wrote about the taco trade that you know,
[9:26] Speaker 4: it's all good and well to sort of trade off
[9:29] Speaker 4: the fact that you know, how seriously can you take
[9:31] Speaker 4: Trump and you know, will you always take you to
[9:33] Speaker 4: the brank and then walk back? But then at that
[9:36] Speaker 4: point you no longer have those natural defenses that help
[9:41] Speaker 4: keep a leader in check. And I think at this
[9:45] Speaker 4: particular moment in time, the fact that sort of the
[9:48] Speaker 4: markets are playing along and not sort of responding to
[9:52] Speaker 4: this great volatility and the stakes are getting higher, but
[9:56] Speaker 4: the bar to actually move markets gets higher turns the
[10:01] Speaker 4: world into a much more dangerous place, right because in
[10:03] Speaker 4: the first iteration of the Trump presidency, the entourage was
[10:08] Speaker 4: essentially trying to sort of keep him in check. That's gone,
[10:11] Speaker 4: but now no longer. You know, the markets are doing that,
[10:14] Speaker 4: and you know, even speaking to investors here in CEOs
[10:19] Speaker 4: and big people from Wall Street, there's a sense of like, well,
[10:24] Speaker 4: how do you manage Trump? Because you don't want to
[10:26] Speaker 4: anger him. We're also making money, but some of the
[10:29] Speaker 4: stuff that's happening is not okay.
[10:33] Speaker 2: After the break, how the rest of the West reacted
[10:36] Speaker 2: to President Trump's speech at Davos and how his designs
[10:39] Speaker 2: on Greenland could reshape the world order. That's next. Ahead
[10:52] Speaker 2: of the annual meeting of the World Economic Forum in Davos,
[10:54] Speaker 2: Bloomberg's Flavia Chrass Jackson says many world leaders were weighing
[10:58] Speaker 2: the limits and risks of trying to make nice with
[11:01] Speaker 2: the US president.
[11:02] Speaker 4: I think it's important to remember that when the Europeans
[11:05] Speaker 4: were thinking about how to handle how to manage Trump,
[11:08] Speaker 4: they were really looking at Trump one point zero and thinking, Okay,
[11:12] Speaker 4: flatter him, you know, don't speak out a term, throw
[11:16] Speaker 4: him a couple of jolleys, invite him to meet the king,
[11:19] Speaker 4: fluff up the pillows at the Royal Palace. And it's
[11:22] Speaker 4: become very clear that the Trump in this situation is
[11:25] Speaker 4: completely different and they have come to realize that that
[11:28] Speaker 4: just doesn't work because Trump only respects strong, not weak,
[11:32] Speaker 4: and Europe has very much been put in the latter category.
[11:34] Speaker 4: So what you've seen in the sort of here and dabbles,
[11:37] Speaker 4: but in the sort of run up is very much
[11:39] Speaker 4: just sort of soul searching of like are we in
[11:43] Speaker 4: the area of appeasement? You know, we've seen where this
[11:45] Speaker 4: has gone with Nevill Chamberlain in the thirties. You know,
[11:48] Speaker 4: no one is obviously comparing Trump to Hitler, but you know,
[11:51] Speaker 4: the sort of the hysteric parallels are sort of really
[11:54] Speaker 4: re emerging and being reimagined and thinking, well, when was
[11:57] Speaker 4: the last time that we sort of gave in thinking
[12:00] Speaker 4: that this would work.
[12:03] Speaker 2: On retaliation? How much unanimity is there among European leaders
[12:07] Speaker 2: in terms of how they might respond to what we've
[12:09] Speaker 2: heard from the president.
[12:10] Speaker 4: There isn't and I think that's the great tragedy of
[12:13] Speaker 4: the European Union. And also what sort of makes it great, right,
[12:17] Speaker 4: I mean, it is twenty seven countries. They don't always agree,
[12:21] Speaker 4: and trying to come to an agreement, reach a consensus
[12:24] Speaker 4: when there's such a divergence of views makes it very complicated.
[12:28] Speaker 4: So you've got, for example, you know, the spoiler in
[12:31] Speaker 4: the midst You've got someone like Victor Auburn. And then
[12:34] Speaker 4: on the other side of the spectrum, you have, you know,
[12:37] Speaker 4: someone like Emmanuel Macron, who was you know, belittled and
[12:42] Speaker 4: berated in Trump's speech as an example of someone who
[12:46] Speaker 4: you know says one thing in public, by in private
[12:48] Speaker 4: kind of acquss who will say, listen, it's time for
[12:53] Speaker 4: us to use all the tools that we have to
[12:56] Speaker 4: fight back. And I think what we're sort of seeing
[12:59] Speaker 4: is you Europe willing and able to stop trying to
[13:02] Speaker 4: thread the needle and do something definitive. And really, because
[13:07] Speaker 4: Europe has kind of flip flowed between acquiescing and then
[13:13] Speaker 4: trying to do something strong, it's risks actually doing neither.
[13:19] Speaker 2: Peer into that toolbox if you would, and we've seen, yes,
[13:22] Speaker 2: these European nations send military personnel to Greenland. We've heard
[13:26] Speaker 2: talk of this anti coercion mechanism We've seen a Danish
[13:30] Speaker 2: pension fund offload a bunch of US treasuries. What's in
[13:34] Speaker 2: that toolbox? What could Europe use to respond here?
[13:37] Speaker 4: Well, I mean this magic coercion instrument is essentially something
[13:42] Speaker 4: that's never been used before, and you know it's been
[13:46] Speaker 4: it's been dubbed the trade bazooka. But it would allow
[13:49] Speaker 4: for the curving of inputs of good and services, and
[13:53] Speaker 4: it's unclear how it would work and whether it would
[13:55] Speaker 4: even potentially be detrimental for Europe to do it. So
[14:00] Speaker 4: part of the sort of will Europe use it? Like,
[14:02] Speaker 4: is it just using it as a bluff tactic? And
[14:05] Speaker 4: at what point is Trump going to call the bluff,
[14:08] Speaker 4: which he has essentially done.
[14:10] Speaker 2: Canada's Prime Minister Mark Karney gave a big speech at
[14:12] Speaker 2: Davos that's gotten a lot of play, effectively calling the
[14:15] Speaker 2: end of the world order that's been in place for
[14:16] Speaker 2: eighty years.
[14:17] Speaker 3: Let me be direct, we are in the midst of
[14:20] Speaker 3: a rupture, not a transition. Over the past two decades,
[14:24] Speaker 3: a series of crises in finance, health, energy, and geopolitics
[14:29] Speaker 3: have laid bare the risks of extreme global integration.
[14:32] Speaker 2: Give us the alternative worldview here as articulated by Prime
[14:36] Speaker 2: Minister Karney, but I think embraced by a lot of
[14:38] Speaker 2: these European leaders as well. What is their sense of
[14:40] Speaker 2: this new kind of world order that's come out of
[14:42] Speaker 2: this this really deep disagreement they're having with the United States.
[14:45] Speaker 4: Well, what he's speaking to really is a dilemma that
[14:49] Speaker 4: many of these so called middle countries have, which is
[14:53] Speaker 4: they can't really strike alone, so what do they do?
[14:56] Speaker 4: And they rely on a sort of architecture of corporation,
[15:00] Speaker 4: And what that involves is essentially a kind of decoupling.
[15:05] Speaker 4: It doesn't mean that in response you erect barriers, rather
[15:11] Speaker 4: that you sort of start developing the relationships amongst yourselves.
[15:16] Speaker 4: And so what that sort of essentially means is a
[15:19] Speaker 4: more gradual distancing from what once once an ironclad relationship
[15:25] Speaker 4: but now has become an unreliable partner. So it doesn't
[15:30] Speaker 4: mean that from one day to the other you suddenly
[15:32] Speaker 4: like cut yourself off. But I think, and there's a
[15:37] Speaker 4: very good quote that he puts, which was middle powers
[15:40] Speaker 4: must act together because if you're not at the table,
[15:43] Speaker 4: you're on the menu.
[15:44] Speaker 3: The middle powers must act together because if we're not
[15:47] Speaker 3: at the table, we're on the menu. But I'd also
[15:50] Speaker 3: say that great powers, great powers can afford for now
[15:54] Speaker 3: to go it alone. They have the market size, the
[15:56] Speaker 3: military capacity, and the leverage to dictate terms. Little powers
[16:01] Speaker 3: do not so very much.
[16:03] Speaker 4: The idea there is and why think what Karnie is
[16:06] Speaker 4: saying is, you know, that is the equivalent, for example,
[16:10] Speaker 4: of putting the wall even higher, erecting the barriers, and
[16:14] Speaker 4: that's a lose lose situation for middle countries because they're
[16:17] Speaker 4: not going to be able to survive short term.
[16:20] Speaker 2: I asked Lava to contrast that with President Trump's vision.
[16:24] Speaker 4: Compared to sort of former administration, those idea of you know,
[16:29] Speaker 4: democracy and we want to you know, take away the
[16:32] Speaker 4: bad guys and bring the good guys. That's not how
[16:35] Speaker 4: Trump sees the world. In fact, it's extremely interesting to
[16:38] Speaker 4: see that even when he removed Maduda, who I think
[16:42] Speaker 4: few people would argue was not a particularly pleasant person,
[16:46] Speaker 4: certainly around the country to the ground, he didn't install
[16:49] Speaker 4: the leader of the opposition, which is what a natural
[16:52] Speaker 4: step that one would have thought. No, he was perfectly
[16:55] Speaker 4: willing to work with one of Maduda's people, who is
[17:00] Speaker 4: very much part of the old regime. Because what we're
[17:03] Speaker 4: seeing in the Trump world is vassal states, right, puppet states.
[17:09] Speaker 4: So I think what we're starting to see, certainly from
[17:11] Speaker 4: jan third, is where his aspirations, where his leadership is
[17:15] Speaker 4: going to tell is going to take him. And I
[17:17] Speaker 4: think that's what's been truly terrifying for the Europeans, because
[17:21] Speaker 4: Greenland would not be hard to take, and then it
[17:24] Speaker 4: just becomes a question of like who would he install Flavio.
[17:27] Speaker 2: Lastly, the theme of this year's gathering in Davos is
[17:30] Speaker 2: a spirit of dialogue. How do you see this play out?
[17:34] Speaker 2: How do you see the conversation evolving? From what we've
[17:36] Speaker 2: seen over the course of this week in Davos.
[17:39] Speaker 4: We're not really seeing a dialogue. What right, we're seeing trade,
[17:43] Speaker 4: the trading of Bob's insults, its escalation. Then I think
[17:48] Speaker 4: to the extent that we're going to see more of that,
[17:52] Speaker 4: I think that's something that we just have to assume
[17:54] Speaker 4: will happen. But now the question is having thrown down
[17:57] Speaker 4: the Goldenland on Greenland out for other spaces, right, because
[18:02] Speaker 4: Trump might fall back a little bit from Greenland, but
[18:05] Speaker 4: don't forget that there's also Iran just around the corner
[18:08] Speaker 4: and He's also said that his lots of options are
[18:10] Speaker 4: being considered there. And in all this, don't forget that
[18:13] Speaker 4: there's a rather sizeable Chinese delegation here, and whilst everyone's
[18:18] Speaker 4: eyes and ears have been elsewhere, they have been quietly
[18:21] Speaker 4: meeting everyone and having probably some very interesting conversations. I'd
[18:26] Speaker 4: be keeping a very close eye on what China does next.
[18:37] Speaker 2: This is the Big Take from Bloomberg News. I'm David Gura.
[18:40] Speaker 2: To get more from The Big Take and unlimited access
[18:42] Speaker 2: to all of Bloomberg dot com, subscribe today at Bloomberg
[18:45] Speaker 2: dot com slash podcast offer. If you like this episode,
[18:49] Speaker 2: make sure to follow and review The Big Take wherever
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[18:53] Speaker 2: Thanks for listening. We'll be back tomorrow

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