We have major news this morning. As Donald Trump addressed world leaders at the World Economic Forum in Davos, Switzerland, the European Union announced it would halt implementation of a critical trade deal between the United States and Europe, a sharp escalation in already strained transatlantic relations.
I watched Trump’s speech closely. Much of it followed his familiar patterns, but several moments stood out and matter. He repeatedly appeared to confuse Iceland and Greenland, openly attacked European leaders and culture, and demanded that Canada and NATO show greater gratitude to him and to the United States.
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Here’s what you missed:
Trump speech in Davos:
Donald Trump just finished giving a speech at the World Economic Forum in Davos, Switzerland. I watched it so that you did not have to. I did not include clips of the President down here so that you don’t have to actually watch the speech and just read the highlights. Here is a recap of the speech:
- Donald Trump said parts of Europe are no longer recognizable, blaming cultural shifts and immigration policies and arguing the continent is “not headed in the right direction” and is “destroying itself.”
- He appeared to confuse Iceland and Greenland during his Davos remarks, repeatedly referring to Iceland while describing Greenland’s strategic importance, including calling it “a piece of ice, cold and poorly located” that he said was vital to world peace and NATO security. He further attacked NATO stating: “Until the last few days when I told them about Iceland, they loved me. They called me daddy.”
- While discussing the Russia–Ukraine war, he repeated his false claim that the 2020 U.S. election was rigged, asserting the war would not have started if he were president and criticizing the media as biased and lacking credibility.
- Trump said he “inherited a mess” in Ukraine and claimed he had a strong personal relationship with Vladimir Putin, arguing Putin would not have invaded Ukraine had Trump remained in office.
- He sharply criticized NATO allies, particularly Denmark, for insufficient defense spending and called for “immediate” negotiations for U.S. control of Greenland, calling it a core U.S. national security interest due to its proximity to Russia and China.
- Trump argued that only the U.S. is capable of securing Greenland, invoked World War II to underscore American power, and dismissed European rejection of his proposal.
- He claimed major oil companies were cooperating with his administration on Venezuela and suggested Venezuela’s leadership was willing to work with the U.S. after prior confrontations.
- Trump attacked Europe’s energy policies, especially wind power, calling windmills economically harmful, environmentally damaging, and accusing China of profiting from their production.
- He criticized European immigration policies for bringing in migrants from different populations, tying immigration to what he described as Europe’s broader decline.
- Trump promoted his proposed “Golden Dome” missile defense system, saying it would also protect Canada, while complaining that Canada benefits excessively from U.S. protection and reiterating rhetoric suggesting it should be more grateful—or even part of the U.S.
During the speech, the European Union announced that it will be halting implementation of the new EU-US trade deal effective immediately:
Other news:
- Donald Trump is at the center of a Supreme Court case with major implications for the economy and separation of powers, as justices weigh his effort to remove Federal Reserve Governor Lisa Cook “for cause,” amid allegations she denies, a parallel Justice Department investigation into Fed Chair Jerome Powell, and growing concern from economists and lawmakers that Trump is seeking to weaken the Fed’s independence to gain greater political control over interest rates and other monetary policy decisions.
- Lindsey Halligan resigned from her role as a top federal prosecutor in Virginia the same day a federal judge barred her from presenting herself as U.S. attorney, after courts ruled she was unlawfully serving in the position, warned her over misleading filings, and dismissed high-profile Trump-prompted cases against James Comey and Letitia James—raising broader concerns about politicization of the Justice Department and judicial pushback against the administration’s efforts to bypass Senate confirmation and reassert control over federal prosecutions.
- A major, high-impact winter storm—the most severe of the season so far—is expected to spread dangerous ice, heavy snow, and brutal Arctic cold from the Plains to the East Coast this weekend, threatening widespread power outages, hazardous travel, and record-challenging low temperatures that could linger into early next week.
- A new Carbon Majors report finds that just 32 fossil fuel companies produced half of global CO₂ emissions in 2024, led by Saudi Aramco and ExxonMobil, fueling criticism that a small, powerful group of producers is driving the climate crisis, obstructing climate action, and increasingly facing legal, political, and financial accountability.
- The Guardian has confirmed that thousands of workers, many believed to be victims of human trafficking, have fled or been released from online scam compounds across Cambodia amid intensified international pressure, prompting concern from Amnesty International that without adequate support many escapees could be re-trafficked as the multibillion-dollar scam industry adapts rather than disappears.
See you soon.
— Aaron