Bessent warns Europe: Retaliatory tariffs over Greenland are an unwise move

US Treasury Secretary Scott Bisnett a stern warning to European countries against engaging in a trade war by imposing retaliatory tariffs, in response to threats made by US President Donald Trump to impose tariffs as leverage to secure the acquisition of Greenland from Denmark. Bisnett's remarks came during his participation in the World Economic Forum in Davos, where he highlighted the strategic dimensions of the issue.

Warnings of an uncontrolled escalation

Speaking to reporters on the first day of the forum, Bessent described any European move to impose retaliatory tariffs as "unwise." This statement comes as the European Union considers its options for responding to Trump's threat to use tariffs against countries that oppose his desire to annex the self-governing territory under the Danish crown.

The Treasury Secretary explained that President Trump's insistence on controlling Greenland stems from a deep strategic vision related to American national security, saying: "We will not entrust the security of the Western Hemisphere to any other party," in a clear indication that Washington views the issue as a security priority and not just a real estate deal.

The strategic and economic importance of Greenland

Greenland is gaining increasing geopolitical importance in the new world order, which explains the American insistence on its sovereignty. This importance is manifested in several key points:

• Natural resources and rare earth minerals: The island contains huge reserves of rare earth minerals that are vital to advanced technology industries, batteries, and defense systems, which Bisent implicitly referred to when he spoke about allowing the Chinese to mine there.
• Geographical location: Greenland is strategically located between North America, Europe and Russia, making it a vital military focal point, especially with the melting of ice in the Arctic and the opening of new shipping lanes.

Bisent invoked American history to justify this approach, asking reporters: "How did the United States get the Panama Canal? We bought it from the French," in an attempt to frame the potential acquisition within the context of the great historical deals that shaped American influence.

Nobel Peace Prize controversy and exchanged letters

On the sidelines of the economic discussion, the conversation turned to the political and personal side of President Trump, as Bessent was asked about a letter Trump sent to the Norwegian Prime Minister, in which he seemed to link his demands for Greenland with his disappointment at not winning the Nobel Peace Prize.

Despite denying any knowledge of the letter's contents, Bisent defended the president, saying, "It's absurd to think the president would do that (request to buy the island) just because of the Nobel Prize." Trump had indicated in his letter that the world would not be safe unless Greenland was under American control, arguing that his efforts to end wars were not enough to win him the prize, which went to Venezuelan opposition leader María Corina Machado.

This ongoing tension between Washington and its European allies reflects a delicate phase in transatlantic relations, where economic interests intersect with security concerns and geopolitical ambitions in the Arctic region.