US President Donald Trump has announced tariffs on European allies supporting Denmark against his bid for acquiring Greenland, including the UK. The 10% tariff will take effect from February 1, and rise to 25% in case a deal is not reached by June 1 this year. The resurfacing of the tariff war has sparked a risk-off sentiment across global equities. The Dow futures are down over 350 points, even as the US markets remain shut for trading today due to a holiday. The global risk-off has rubbed off on Indian equities as well.
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CNBC TV1819-01-2026, 16:32

Trump Links Greenland Demand to Nobel Snub, Raises NATO Concerns

  • US President Donald Trump linked his interest in Greenland to a perceived snub over the 2025 Nobel Peace Prize in a letter to Norwegian PM Jonas Gahr Støre.
  • Trump stated that because Norway didn't award him the Nobel Prize, he no longer feels obligated to think purely of peace, though it remains 'predominant'.
  • The letter questioned Denmark's sovereignty over Greenland, arguing Copenhagen cannot protect it from Russia or China, and emphasized US strategic priorities.
  • Trump asserted that the US deserves reciprocal support from NATO allies for his contributions, framing Greenland's control as vital for global security.
  • European leaders expressed concern, and Trump responded with additional tariffs on several European nations, including Denmark and Norway.

Why It Matters: Trump's letter links Greenland demands to a Nobel Peace Prize snub, stirring diplomatic tensions and NATO concerns.

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