Trump Eases Greenland Tensions: Tariff Threat Withdrawn

U.S. President Donald Trump retracted his previous threat of imposing tariffs on several nations regarding Greenland. Announcing a potential deal, he expressed an understanding not to use force while opening communication through Vice President JD Vance and other officials. This decision led to a stock market rally.

In a surprising turn of events, U.S. President Donald Trump has withdrawn his threat of imposing tariffs on several nations in matters concerning Greenland, following productive discussions about the Arctic region's future relations.

Trump, communicating via his Truth Social platform, revealed strides made toward a promising deal, indicating that he would not resort to any force, and confirmed that the tariffs planned for February 1st would not be enforced. The President's diplomatic approach involves Vice President JD Vance, Secretary of State Marco Rubio, and special envoy Steve Witkoff, who are all set to delve deeper into the discussions.

Trump's announcement coincided with his meeting with NATO Secretary General Mark Rutte at the World Economic Forum in Davos, Switzerland. His statement helped spark confidence among investors, with the S&P 500 index soaring over 1.5% following the news.

(With inputs from agencies.)