Trump Backs Off Greenland Tariffs, Citing ‘Framework’ Deal

9 snips

Jan 21, 2026

Guest

Gregory Peters

Nick Wadhams, Bloomberg's National Security reporter, unpacks President Trump's surprising decision to back off Greenland tariffs and explores the mysterious 'framework' deal with NATO. Jonathan Reckford, CEO of Habitat for Humanity, discusses how housing affordability is tied to supply shortages, advocating for policy incentives and zoning reforms. Gregory Peters, PGIM's Co-CIO, analyzes the ripple effects of these developments on Treasury flows and offers insights on future fiscal risks and yield curve dynamics.

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INSIGHT

Trump's Greenland Backdown May Be Temporary

President Trump publicly backed off Greenland tariffs, citing a vague "framework" deal reached at Davos.
Nick Wadhams warns the retreat may be temporary and the president could escalate again if details disappoint him.

INSIGHT

Military Presence Could Be The Real Concession

The U.S. can already bolster military presence in Greenland and Denmark has no objection to bases.
Nick Wadhams suggests concessions touted to the president might be things the U.S. could have done anyway.

INSIGHT

Ads Are Netflix's Key Near-Term Growth

Netflix's biggest near-term growth lever is advertising revenue as it builds ad capabilities.
Alicia Reese expects ad revenue to become a meaningful contributor in 2026 and improve profitability if users shift to cheaper ad tiers.

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President Donald Trump said he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland, citing a “framework of a future deal” he said was reached regarding the island.
The decision, which Trump announced Wednesday on social media, marks a stark reversal for a president who has repeatedly attempted to coerce Europe over Greenland. It came after a meeting with North Atlantic Treaty Organization Secretary General Mark Rutte at the World Economic Forum in Davos, Switzerland.

Still, Trump did not detail the parameters of the so-called “framework” and it was unclear what the agreement entails, especially since Denmark earlier Wednesday ruled out negotiations over ceding the semi-autonomous island to the US.

“We have formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” Trump posted. “This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.”

US stocks jumped on the news that tariffs wouldn’t be implemented, with the S&P 500 and Nasdaq 100 rallying to session highs. Treasuries extended gains, and the Bloomberg Dollar Index rose to a daily high.

Today's show features:

Bloomberg News National Security Team Leader Nick Wadhams on President Donald Trump saying he would refrain from imposing tariffs on goods from European nations opposing his effort to take possession of Greenland
Alicia Reese, SVP Equity Research, Media & Entertainment at Wedbush Securities, with a day-after look at Netflix and when the Warner Bros. Discovery saga will be resolved
Jonathan Reckford, CEO for Habitat for Humanity, on the Trump administration’s recent focus on housing affordability and related executive order
Gregory Peters, Co-Chief Investment Officer of PGIM Fixed Income, on bond market signals and the US economic outlook

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