Tensions Over Greenland: A Transatlantic Trade Saga

U.S. Treasury Secretary Scott Bessent remains optimistic about resolving tensions between the U.S. and Europe over America's interest in Greenland. Despite President Trump's proposed tariffs on European allies, Bessent suggests a diplomatic solution is likely, urging calm amidst fears of a trade conflict.

U.S. Treasury Secretary Scott Bessent expressed confidence Tuesday about finding a solution to tensions over the U.S.'s interest in acquiring Greenland, reassuring that fears of a trade war with Europe were exaggerated.

President Trump announced tariffs against European allies who oppose the U.S.'s ambitions; however, European Union leaders plan to discuss retaliation strategies at an emergency summit, potentially introducing 93 billion euros in tariffs on U.S. imports.

Bessent urged observers to remain calm and dismissed the likelihood of an EU trade restriction, instead predicting the formation of a European working group. He also dismissed speculation that EU countries might sell U.S. Treasury bonds.

(With inputs from agencies.)