The president touted U.S. economic success over the past year, while also devoting significant time to making the case for the U.S. acquisition of Greenland.
DAVOS, Switzerland—President Donald Trump stood before the world’s wealthiest and most influential leaders at the World Economic Forum in Davos, Switzerland, delivering a speech he said brought “truly phenomenal news from America.”
He touted his agenda and U.S. economic success over the past year, while also devoting significant time to making the case for the U.S. acquisition of Greenland.
Here are the key takeaways from his remarks in Davos.
Trump Rules Out Acquiring Greenland by Force
After long declining to rule out military action as a means of acquiring Greenland from Denmark, a NATO ally, Trump told the audience in Davos that force was off the table.
“We probably won’t get anything unless I decide to use excessive strength and force, where we would be, frankly, unstoppable,“ the president said. ”But I won’t do that, OK.”
Trump’s deescalatory remarks come amid conversations with Europeans about the issue, including NATO Secretary-General Mark Rutte.
Ahead of his visit to Davos, he said the conference would include a meeting with leaders, although he did not specify participants.
The president said a U.S. acquisition of Greenland “would not be a threat to NATO.”
“This would greatly enhance the security of the entire alliance,” he said.
Trump also called for “immediate negotiations to once again discuss the acquisition of Greenland by the United States.”
US Will ‘Remember’ Choice Over Greenland
Trump said the United States must own Greenland for national and international defense purposes, downplaying the significance of its rare-earth mineral resources.
He described it as critical to building the “Golden Dome” missile defense system he envisions for protecting America.
Although the United States is already legally entitled to step up its military presence in Greenland, Trump said outright ownership is necessary for the country to defend the territory.
“Number one, legally, it’s not defensible that way, totally,“ he said. ”And number two, psychologically, who the hell wants to defend a license agreement or a lease?”
Trump also noted that Greenland is part of North America, apparently invoking the Monroe Doctrine to argue that it falls in the U.S. sphere of influence.
The Danes, he suggested, now face a choice: “You can say yes, and we will be very appreciative, or you can say no, and we will remember.”
Trump Rolls Back Proposed Tariffs on Europe Over Greenland
Soon after his public speech in Davos, Trump announced that a meeting with Rutte had convinced him to change his course on new tariffs that were slated to be imposed at the beginning of February.
Aimed at multiple European countries, the tariffs were motivated by the countries’ negative response to Trump’s recent push to acquire Greenland.
“We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” the president wrote on Truth Social.
“This solution, if consummated, will be a great one for the United States of America, and all NATO Nations,” he wrote.
Trump’s announcement came the same day that the European Union suspended work on legislation furthering a new trade deal with the United States, a move motivated by the Trump administration’s rhetoric on Greenland.
Europe Is ‘Going in Wrong Direction’
Trump began his speech with a strong message for European leaders. As in previous years, he criticized European nations for their energy policies and heavy reliance on renewable energy sources such as wind power. He also raised concerns about cultural changes and mass migration.
“Certain places in Europe are not even recognizable, frankly, anymore, they’re not recognizable,” Trump said.
“And I love Europe, and I want to see Europe go good, but it’s not heading in the right direction.”
He criticized European countries for increasing government spending, permitting unchecked mass migration, and depending on foreign imports, which he said led to job losses.
He also noted that they are replacing affordable energy sources such as oil and gas with what he called the “green new scam.”
“The United States cares greatly about the people of Europe,” Trump said, touting his Scottish and German heritage.
Restoring ‘Bedrock of the American Dream’
Trump used his appearance at the World Economic Forum to tout the administration’s recent measures to restore housing affordability for U.S. families.
The president called out Wall Street giants and institutional investment firms for driving up housing prices in recent years by purchasing “hundreds of thousands of single-family homes.”
“I’m taking action to bring back this bedrock of the American dream,” the president said.
Before leaving for Davos, Trump signed an executive order titled “Stopping Wall Street from Competing with Main Street Homebuyers.”
The action directs federal agencies to draft new restrictions and adjust current rules regarding corporate purchases of single-family homes.
“Homes are built for people, not for corporations,” Trump said. “America will not become a nation of renters.”
Comparing credit card interest rates to usury, the president urged Congress to approve a one-year, 10 percent cap that “will help millions of Americans save for a home.”
Trump also teased that he may look at depreciation, a deduction for the cost of long-term assets over time that reduces annual taxable income.
“You know, the crazy thing is, a person can’t get depreciation on a house, but when a corporation buys it, they get depreciation,” he said. “That’s something we’re going to have to think about, too.”
US Keeping ‘World Afloat’
The United States is not going to subsidize the whole world, Trump said.
His global tariffs were implemented to address large trade deficits with various nations, with him noting that many countries were “taking advantage” of the United States.
“You’re all party to them, in some cases victim to them, but in the end it’s a fair thing, and most of you realize that,” the president said.
Following a conversation with a world leader regarding his tariffs, Trump said he realized that “the United States is keeping the whole world afloat.”
“Without us, it’s not any of the countries that are represented here,” he said. “We want to work with the countries. We want to work with them. We’re not looking to destroy them.”
As a result, according to the president, the United States should be paying the lowest interest rates in the world.
Economic Change ‘Not Seen in Over 10 Years’
Trump touted his administration’s one-year economic achievements, pointing to lower inflation and strong economic growth.
“In one year, our agenda has produced a transformation like America has not seen in over 10 years,” the president said in his Davos speech.
He cited the three-month core inflation rate of 1.6 percent, which strips out volatile energy and food prices.
Trump also stated that fourth-quarter growth is poised to exceed 5 percent.
This, the president said, is vastly different from what economic observers predicted in 2025.
“Virtually all of the so-called experts predicted my plans to end this failed model would trigger a global recession and runaway inflation, but we have proven them wrong,” he said.
America’s reindustrialization was another theme the president emphasized.
Trump pointed to rising exports, increased domestic steel production, and a surge in factory construction, attributing the gains to what he called “historic trade deals with partners.”
He also noted that gasoline prices have fallen over the past year, predicting an average cost of $1.99—a level he said “nobody has heard for years.”
By Emel Akan, Nathan Worcester and Andrew Moran
