President Donald Trump said on Wednesday that he and NATO Secretary-General Mark Rutte have “formed the framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region,” signaling progress on a potential high-stakes negotiation.
In a post on Truth Social, Trump wrote that the agreement, if finalized, “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.”
The post also mentioned “additional discussions… concerning The Golden Dome as it pertains to Greenland” and named Vice President JD Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff, and others as responsible for negotiations, reporting directly to Trump.
Markets responded positively to the announcement. The Dow Jones Industrial Average climbed 589 points, or 1.2%, to 49,077, while the S&P 500 rose 79 points, also 1.2%, to 6,876, putting it into positive territory for the year. The Nasdaq gained 271 points to 23,225, and the Russell 2000 led with a 2% jump to 2,697.
Speaking to reporters on the sidelines of the World Economic Forum in Davos, Trump provided few details about the deal but promised further updates. When asked about the timeline, he described it as “infinite.”
The comments come amid broader discussions about Arctic development and international cooperation, with Greenland’s strategic and economic importance drawing increasing attention from global powers.