Donald Trump withdraws European tariff threats and rules out military force for Greenland
President Donald Trump withdrew European tariff threats and ruled out military force for Greenland. Markets recovered as global trade concerns eased Thursday.
Insights:
On Thursday, United States 
USPresident Donald Trump donald trumpannounced the withdrawal of threats to impose a 10% tariff from February 1 on eight European countries and ruled out the use of military force to take over the Danish territory of Greenland. Speaking at the World Economic Forum in Davos, Switzerland 
CH, the president’s decision followed a Wednesday meeting with NATO Secretary General Mark Rutte mark rutte. The reversal has significantly reduced trade war concerns that had previously pressured global markets and driven safe-haven demand.
USPresident Donald Trump donald trumpannounced the withdrawal of threats to impose a 10% tariff from February 1 on eight European countries and ruled out the use of military force to take over the Danish territory of Greenland. Speaking at the World Economic Forum in Davos, Switzerland CH, the president’s decision followed a Wednesday meeting with NATO Secretary General Mark Rutte mark rutte. The reversal has significantly reduced trade war concerns that had previously pressured global markets and driven safe-haven demand.Following the announcement, March futures on the S&P/TSX Composite Index in Canada 
CAwere up 0.4% as of 5:48 a.m. ET on Thursday. This gain allowed the resources-heavy benchmark index in Toronto to recoup losses from the previous session. The Canadian Dollar also adjusted as trade war concerns eased ahead of the release of key United Statesinflation data for November and third-quarter GDP figures which were due on Thursday morning.
CAwere up 0.4% as of 5:48 a.m. ET on Thursday. This gain allowed the resources-heavy benchmark index in Toronto to recoup losses from the previous session. The Canadian Dollar also adjusted as trade war concerns eased ahead of the release of key United Statesinflation data for November and third-quarter GDP figures which were due on Thursday morning.
