Episode summary
Davos Braces for Trump's Arrival; Bessent Cautions Allies Over Military Missions in Greenland |...
Bloomberg Daybreak: US Edition
· · 17 min
Summary
President Trump’s trip to Davos dominated the hour, with markets and European leaders focused on his plan to push for control of Greenland and the 10% tariffs he has threatened on goods from eight European countries if he cannot reach a deal with Denmark. The host said officials in Europe are drafting retaliation plans, while Treasury Secretary Scott Bessent argued that allies should not overreact and dismissed a Danish pension fund’s plan to sell Treasuries as irrelevant. The discussion framed the encounter as a test of whether the existing U.S.-EU trade deal can survive a new round of tariff threats and geopolitical pressure.
The episode also tied the Greenland fight to a broader market selloff, after the S&P 500 had its worst day since October and erased its 2026 gains. An analyst said investors were being forced to de-risk, even as Treasury yields eased later in the morning. Separately, the show covered the Supreme Court hearing over Trump’s attempt to remove Fed Governor Lisa Cook, with critics warning the case could weaken Fed independence. On earnings, Netflix fell after a cautious outlook tied to higher content spending and Warner Brothers Discovery deal costs, while United Airlines rose after beating estimates and forecasting a strong 2026.
Key takeaways
- The host said Trump’s Greenland push and new tariffs could trigger European retaliation and threaten the U.S.-EU trade accord.
- Bessent downplayed a Danish pension fund’s Treasury sale as “irrelevant” and said Denmark’s investing power is too small to matter.
- An analyst said the market selloff shows investors are being forced to de-risk after Trump’s tariff threats hit sentiment.
- The Supreme Court is hearing Trump’s bid to oust Lisa Cook, a case critics say could test the Fed’s independence.
- Netflix fell after warning that 2026 costs will rise, including $275 million from the Warner Brothers Discovery deal.
- United Airlines rose after beating fourth-quarter estimates and citing strong demand from high-spending travelers.
Notable quotes
“The country's never done better. We have $18 trillion plus coming in. We've never had anything like it and no country has had anything like it”
“I think that we will work something out where NATO is going to be very happy and where we're going to be very happy”
“Well, uh the the size uh Denmark's investment in US Treasury bonds like Denmark itself is irrelevant”
“It seems crazy except that things have a way of happening which people didn't think would happen”
“The people of this country are sick and tired of THE GREED in the healthcare industry”
How the episode opens
Bloomberg Audio Studios, podcasts, radio, news. — Good morning. I'm Nathan Hager — And I'm Karen Moscow. Here are the stories we're following today. — Karen, we begin with the latest from the World Economic Forum in Davos, Switzerland. President Trump is on his way to attend the annual gathering of global elites, and he's promising to talk about America's successes.
The country's never done better. We have $18 trillion plus coming in. We've never had anything like it and no country has had anything like it.
President spoke to reporters before boarding Air Force One, but the trip's already gotten off to a rough start. The plane had to return to Joint Base Andrews shortly after takeoff due to a mechanical issue. President Trump was eventually able to get on a replacement plane, but it delayed his departure by more than 2 hours.
to the president's speech is scheduled for 8:30 a.m. Wall Street time, but Treasury Secretary Scott Bessant in Davos says he expects the president to be about 3 hours late. We will carry the president's remarks when they happen on Bloomberg radio, Bloomberg television, and the Bloomberg podcast channel on YouTube.
Nathan, when President Trump does arrive in Davos, he could find allies shaken by his stated desire to take control of Greenland. The president has announced 10% tariffs on goods from eight European countries starting next month unless he has a deal to purchase Denmark's territory. Officials in Europe have started drafting plans to retaliate, but President Trump says he does not think they will.
I think that we will work something out where NATO is going to be very happy and where we're going to be very happy. President Trump spoke at a White House news conference heard live here on Bloomberg Radio, marking his first year back in office.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- trump eu tariffs
- greenland military missions
- davos european backlash
- supreme court fed governor
- rate cuts pressure
Watch the episode
Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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