Trump says he reached Greenland deal 'framework' with NATO, backs off Europe tariffs

• Trump backed off planned February 1 tariffs on multiple European countries following what he described as a 'very productive meeting' with NATO's Mark Rutte
• The framework deal covers Greenland and the broader Arctic region, with Trump stating it will be 'a great one for the United States of America, and all NATO Nations' if finalized
• Negotiations will be led by VP JD Vance, Secretary of State Marco Rubio, and Special Envoy Steve Witkoff, with discussions also ongoing concerning 'The Golden Dome' as it relates to Greenland

Summary

Key Development:

President Donald Trump announced on Wednesday that he has reached a "framework" agreement with NATO Secretary General Mark Rutte regarding Greenland and the broader Arctic region. As a result, Trump will cancel punitive tariffs on multiple European countries that were scheduled to take effect February 1, 2026.

Main Points:

• The framework deal follows what Trump described as a "productive meeting" with NATO's Rutte at the World Economic Forum in Davos, Switzerland on January 21, 2026
• Trump stated the solution, if finalized, would benefit the United States and all NATO nations
• The president backed away from implementing previously threatened European tariffs due to this understanding
• Additional discussions are underway concerning "The Golden Dome" as it relates to Greenland

Parties Involved:

The negotiation team reporting directly to Trump includes:

• Vice President JD Vance
• Secretary of State Marco Rubio
• Special Envoy Steve Witkoff
• Other officials as needed

Market Implications:

The tariff cancellation provides relief to European markets and companies that would have faced punitive measures starting February 1. This de-escalation in transatlantic trade tensions likely reduces uncertainty for international businesses and investors. However, details of the Greenland framework remain unclear, and the situation is still developing.

Note: This is breaking news as of January 21, 2026, with further information expected as negotiations progress.