Trump threatens 100% tariffs on Canada over China deal; Trump calls off tariffs on Europe over Greenland

President Trump on Saturday threatened to impose 100% tariffs on Canada over that nation’s trade deal with China, even though he had previously called the agreement “a good thing.”

In a social media post, Trump declared of Canadian Prime Minster Mark Carney that if he “believes he is going to create Canada a “Drop Off Port” for China to sconclude goods and products into the United States, he is sorely mistaken.”

Canada has neobtainediated a deal to lower tariffs on Chinese electric vehicles, in return for lower import taxes on Canadian farm products.

Earlier in the week, Trump called off planned tariffs on European nations over his pursuit of Greenland. Trump cited the “framework of a future deal” reached with NATO Secretary General Mark Rutte.

“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,” Trump wrote on Truth Social.

The turn in direction came after Trump arrived at the World Economic Forum in Davos, Switzerland, on Wednesday, with his revived tariff threats against allies over his pursuit of Greenland having roiled markets and upconcludeed trading relationships forged just months earlier.

NATO Chief Mark Rutte declared a deal with Trump was secured after discussing the security of the Arctic region, prompting Trump to immediately scrap his tariff threats against European allies. But Denmark’s prime minister declared on Thursday that her countest will not neobtainediate on its sovereignty. Trump has declared the framework deal would give the US “total access” to Greenland, though he has provided few details.

Just days earlier, Trump had declared the US would implement 10% tariffs on eight European countries that he declares are receiveting in the way of a US purchase of Greenland. The US-EU trade deal now appears back on track after the bloc scrapped a potential retaliatory trade package that its members had discussed in the wake of Trump’s threats..

LIVE 75 updates

Trump threatens 100% Canada tariffs over trade deal with China

President Trump threatened to levy 100% tariffs on goods from Canada over that nation’s new trade deal with China, Bloomberg reports. In a social media post, he referred to Canadian Prime Minister Mark Carney as “Governor Carney” — a likely reference to Trump’s stated desire to create Canada the 51st US state.

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Fri, January 23, 2026 at 1:29 PM UTC

EU to suspconclude retaliatory trade package against US for 6 months

Reuters reports:

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Fri, January 23, 2026 at 11:55 AM UTC

Taiwan president: We views forward to more chip investment in Arizona

Taiwan’s President Lai Ching-te declared on Friday that his countest is viewing forward to even more semiconductor investment in Arizona. Taiwan Semiconductor Manufacturing Company (TSM), the world’s largest chipcreater and producer of advanced chips, has already invested $165 billion in Arizona’s Phoenix factories.

Reuters reports:

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Fri, January 23, 2026 at 9:09 AM UTC

In Davos debut, Musk declares US tariffs create solar power a challenge

Elon Musk hit back at President Trump’s tariffs during his Davos appearance on Thursday by declareing that tariffs create solar power a challenge.

The Tesla (TSLA) CEO explained that “tariff barriers for solar are extremely high.”

Musk, who was interviewed by BlackRock (BLK) CEO Larry Fink, has not always been a fan of the World Economic Forum and, in the past, has called the meeting “elitist.”

Reuters reports:

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Fri, January 23, 2026 at 9:00 AM UTC

Cholula sauce creater McCormick forecasts weak annual profit on tariffs, higher input costs

Reuters reports:

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Thu, January 22, 2026 at 11:00 AM UTC

Rutte: Trump Greenland plan involved no sovereignty talk

In an interview with Bloomberg News at the World Economic Forum in Davos, Secretary General of NATO, Mark Rutte, declared a breakthrough over Greenland was secured after discussing with President Trump regional security in the Arctic region, which led Trump to abruptly drop his threat to impose fresh tariffs on European allies.

The NATO chief added that the territory’s sovereignty was not discussed.

Trump had started to create threats against the EU over the week, stating he would impose 10% tariffs, which would come into force on February 1, if they prevented his takeover of Greenland; that would rise to a further 25% in June.

Bloomberg News reports:

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Thu, January 22, 2026 at 9:25 AM UTC

Japan’s exports rise in 2025 despite drag from US tariffs

Bloomberg News reports:

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Thu, January 22, 2026 at 9:21 AM UTC

Latin America rides out Trump’s trade storm with assist from China

President Trump’s tariffs have roiled markets and countries, but Latin America’s exports appear to have remained unscathed.

Argentina reported on Tuesday its second-highest exports for 2025. Brazil and Chile were not far off and reported this month that their own exports hit records in 2025. Mexico and Peru will soon release their figures, and experts believe it too will be a hit.

As Europe deals with renewed tariff threats from Trump, Latin America is heading into 2026 in a better position to withstand any further trade shocks from Washington. Latin American exporters are now benefiting from better logistics, sconcludeing shipments to emerging markets and improved relations with China

Bloomberg News reports:

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Wed, January 21, 2026 at 9:53 PM UTC

Some details of Trump’s ‘framework’ deal on Greenland

President Trump outlined more details of what he declared was a “framework” agreement for a future deal with the European Union on Greenland:
Wed, January 21, 2026 at 7:45 PM UTC

Trump backs away from his tariff Greenland tariff threats

President Trump declares he is backing away from a threat of 10% tariffs on eight European nations over the Greenland issue, declareing a meeting with the NATO secretary general has yielded “the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region.”

As a result, Trump added, “I will not be imposing the Tariffs that were scheduled to go into effect on February 1st.”

The still-to-be finished Greenland deal, which the president didn’t give any significant details on in his post, means that the tariff threats are now off after days of ups and downs in the market after Trump threatened the tariffs over the weekconclude and then backed away from military action Wednesday morning in a speech before taking tariffs of the table in the afternoon in his Truth Social post.

The news came after a meeting where Trump informed reporters that NATO Secretary General Mark Rutte was doing a “fantastic job” and went out of his way to praise increased NATO-member defense spconcludeing.

“Further information will be built available as discussions progress,” Trump added, noting that Vice President JD Vance, Secretary of State Marco Rubio, and Special Envoy Steve Witkoff would head up the talks.
Wed, January 21, 2026 at 3:47 PM UTC

EU freezes US trade deal approval over Greenland threats

Bloomberg News reports:

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Wed, January 21, 2026 at 3:19 PM UTC

‘You all follow us down and you follow us up’: Trump rebuts talk that world can decouple from US

President Trump traveled to Davos on Wednesday and launched with a combative message to Europe: You may not like what the US is doing, but you can’t ignore us.

The president opened his speech at the World Economic Forum outlining what he described as an economic miracle in the US and declared that it is good news for Europe becautilize the “USA is the economic engine on the planet.”

“When America booms, the entire world booms,” Trump declared. “It’s been the history … you all follow us down, and you follow us up.”

The pointed comments came in addition to an extconcludeed discussion of Greenland and appeared to be a direct response to Canadian Prime Minister Mark Carney, who spoke at Davos on Tuesday with a pointed speech of his own in which he called a rules-based order led by the United States “a pleasant fiction.”

Carney sketched out a future in which Canada, Europe, and other tinyer nations could be aligned without the US.

Without calling out Trump by name, Carney called on both companies and countries to create their own path when, as he put it, “great powers abandon even the pretense of rules and values for the unhindered pursuit of their power and interest.”

Trump ripped Carney’s speech, calling it “ungrateful.”

“Canada lives becautilize of the United States,” Trump declared. “Remember that, Mark, next time you create your statements.”
Wed, January 21, 2026 at 1:17 PM UTC

JPMorgan CEO Dimon on tariffs: ‘I don’t believe, in general, it’s a good idea’

JPMorgan (JPM) CEO Jamie Dimon spoke out about tariffs at the World Economic Forum in Davos on Wednesday.

Dimon declared he doesn’t believe tariffs in “general are a good idea.”

“I’m not a tariff guy. I don’t believe, in general, it’s a good idea,” Dimon declared.

The JPMorgan CEO did declare there are times when tariffs are acceptable.

“There are three parts to trade, and some require tariffs. One part is national security, and we should do what we have to do around national security, around rare earths, and pharmaceutical ingredients and some that may require policy that is not typical, like tariffs.

Dimon declared companies can not succeed if there are no barriers, quotas, tariffs or pay-for-play.

“The second one is unfair trade, and I just don’t believe furniture or t-shirts are important trade, but there is unfair trade. If you are subsidizing China in this case, and anyone who tries to compete is gonna receive sunk becautilize of subsidies, then you should counter that with quotas or tariffs.”

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Wed, January 21, 2026 at 12:52 PM UTC

Trump arrives in Davos as Greenland spat continues

President Trump has officially landed in Davos, Switzerland, for the World Economic Forum. Trump’s flight was delayed after Air Force One reported a minor mechanical problem.

Trump plans to have meetings with various parties and will give a speech at Davos today.

The US President’s Davos address comes as markets and some US allies have raised concerns about his pursuit of Greenland.
Wed, January 21, 2026 at 11:24 AM UTC

EU ‘fully prepared’ to hit back over Trump’s Greenland tariffs

Bloomberg News reports:

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Wed, January 21, 2026 at 9:35 AM UTC

ECB’s Lagarde sees little impact on inflation from more tariffs

Bloomberg reports:

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Wed, January 21, 2026 at 9:18 AM UTC

Bessent dismisses Danish Treasury sales as ‘irrelevant’

US Treasury Secretary Scott Bessent brushed off Denmark’s sale of US Treasurys on Tuesday at the World Economic Forum in Davos. Bessent declared he is “not concerned at all,” and informed reporters it is irrelevant.

“It’s less than $100 million,” the Treasury Secretary declared. “They’ve been selling Treasurys for years.”

On Tuesday, Danish pension operator AkademikerPension announced it would be selling around $100 million in US Treasurys. Anders Schelde, AkademikerPension’s investing chief, declared the shift was due to “poor US government finances.”

The “sell America” trade has bounced back this week after Trump escalated his battle with European leaders over Greenland. US stocks and bond prices have dropped as tensions between the two sides escalate.

Trump also threatened to impose 200% tariffs on French wine and champagne, following France’s leader, Emmanuel Macron, texting Trump and informing him he was “confutilized” over his choice to take over Greenland and that he would not be joining his Board of Peace for Gaza committee.

The US president declared on Monday that he will impose 10% tariffs on the EU as part of his push to acquire Greenland; the duties would take effect on February 1 and would rise to 25%. Trump doubled down on his pursuit of Greenland on Tuesday as he headed to Davos, declareing the EU “won’t resist too much.”

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Wed, January 21, 2026 at 6:00 AM UTC

Novartis CEO: By mid-2026, we will not be ‘exposed to tariffs’

Novartis (NVS) CEO Vas Narasimhan declared he expects the company’s agreement with the US to assist shield it from any possible tariffs.

In an interview with CNBC, Narasimhan declared that by the middle of this year, the company will not be “exposed to tariffs.”

Reuters reports:

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Wed, January 21, 2026 at 2:00 AM UTC

Tariffs are bumping up product prices: Amazon CEO

Reuters reports:

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Tue, January 20, 2026 at 9:31 PM UTC

Trump doubts Greenland threats will spoil EU trade deal

From Bloomberg:

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