Scott Bessent: Countries Should 'Take A Deep Breath' On Greenland
January 20, 2026
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1:06Now PlayingScott Bessent: Countries Should 'Take A Deep Breath' On Greenland
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as posted by the channelUS Treasury Secretary Scott Bessent urged calm amid a growing transatlantic rift over President Donald Trump’s ambitions to take over Greenland, calling for allies to honor their trade agreements and dismissing suggestions that Europe would forcefully retaliate by dumping US treasuries.
“I am confident that the leaders will not escalate, and that this will work out in a manner that ends up in a very good place,” Bessent said Tuesday during a press conference at Davos, where he is attending the World Economic Forum.
Bessent likened the uproar over Greenland to what he called the “hysteria” that followed Trump’s announcement in April of last year of sweeping country-by-country tariffs which sparked a fierce market and political blowback.
This is the same kind of hysteria that we heard on April 2,” he said. “There was a panic. And what I’m urging everyone here to do is sit back, take a deep breath, and let things play out.”
Still, Bessent’s defensive posture highlighted the firestorm awaiting Trump when he is expected to arrive in Davos on Wednesday following his threat of tariffs against allies who have opposed his bid to acquire the Danish territory of Greenland. Trump said earlier Tuesday that he would meet with various parties to discuss the matter.
he tariff threat sparked alarm from European allies and talk from French President Emmanuel Macron of unleashing the European Union’s anti-coercion instruments to push back on the US, though German Chancellor Friedrich Merz tamped down on that idea.
Asked about reports of Europe possibly selling US treasuries, a potential countermeasure that would have seismic impacts on markets, Bessent dismissed that speculation as a “false narrative.”
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Note: The headline of this video was updated to fix a typo in the word 'countries'
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