Dow set to fall more than 300 points on Trump’s new tariff threat over Greenland: Live updates

Dow set to fall more than 300 points on Trump’s new tariff threat over Greenland: Live updates.

Dow poised to drop over 300 points on Trump's new Greenland tariff threat: Live Updates. Good morning, everyone. Happy Monday. We have a great show for everyone today. Uh, what do we have, Chris? And why are we home? What's going on? Well, it's Martin Luther King Jr. Day. That's why we're home personally and always want to

Give the crew some time. Um, very well deserved. And we have a huge show. I'm sure you're all aware. There's a lot that's breaking in the world right now.

This crazy letter from Trump regarding Greenland. Luckily, we got Jeffrey Sachs' response on the show this morning.

To talk about Iran, to talk about the border of peace, to talk about Canada, and to talk about China. We'll take a look at the market reaction,

These tariffs that Trump is now threatening, and the European Union's response. So we'll go into all the geopolitics today. We have obviously huge domestic developments in the case of Minnesota. Tim Walz has called up the National Guard.

And Trump is threatening to send 1,500 troops. So, we have the potential for two armed forces to come face-to-face on American streets. Obviously

That's an incredibly scary situation. I don't think there's any two ways around it. We also have ICE coming after you.

Um, but I wanted to use this as an opportunity to highlight some of the specific lies that he's been caught up in in the context of what's been happening on the ground in Minneapolis recently.

We'll also look at a very interesting moment from Gavin Newsom in his interview with Ben Shapiro regarding Gaza.

And is he perhaps getting a lot of traction as a potential 2028 Democratic nominee. Yeah, that's right. A lot on the show. A lot on the show today.

So, why not start the West here with the global market reaction to the tariffs? Certainly, the biggest story I think has happened, and we will talk more about the context of Greenland with Professor Sachs.

But this is after a social post by Trump over the weekend, threatening the Europeans with a 10% tariff on all major economies.

that are not currently pulling away from the United States. So, US stock futures and European shares have fallen. Gold and silver hit new highs.

President Trump said he would slap these tariffs on the stocks. The Europe 600 fell more than 1%, and sensitive stocks and others had to bear the brunt of the selling.

The 10% tariff on all goods imported from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland is going to go into effect on February 1st. So obviously, all the major economies in Europe.

The French, German, and UK tariffs in particular are going to be the most significant. The EU is now considering possible retaliatory tariffs.

There are some $93 billion in tariffs that have been prepared as a possible response. However, as of this morning, the New York Times is reporting, Chris,

I’m just sending you the article if you want to quote it from the New York Times. Reporting this morning, EU officials are leaning toward negotiations rather than retaliation over Trump’s tariff threat.

EU ambassadors and leaders from the 27 countries held an emergency meeting on Sunday.

The bloc will meet in Brussels later this week. I’ll also note for everyone that, oh, Donald Trump and the administration are going to Davos.

Saturday, oh, and so in the Davos speech, Trump is apparently going to talk about housing measures, mortgage bonds, and credit card affordability rates.

Personally, you know, I'm not going to talk about austerity at Davos, just. Ah, I

Terms of a general message. If you're trying to target the American people again, I'm not going to go to Klaus Schwab, you know,

Oh, make room with the World Economic Forum to talk about it. It's not really giving, it's not really giving as much as it cares about the little people,

Is that it? Yes, I personally won't be sitting in Danwei the day after you. Jensen Wong. But it's all in the context of all these European leaders.

This is probably going to be the most important Davos meeting ever because Trump is coming there. We're going to talk to Professor Sachs about the Board of Peace.

The question of tariffs is almost certainly going to be discussed and debated here in the context of Greenland.

But I think why it matters is that this juxtaposition is basically oh what

The White House is having trouble at the same time they're doing the private equity housing initiative, credit card interest rates,

These are good policies. I support them. Oh, and you know, in the general administration, or is that the only thing you want to talk about?

But obviously, the threat of tariffs, the potential threat of tariffs here, the market reaction, Greenland itself, Venezuela, Iran, a lot of that is being pulled, you know,

in their messaging. I didn't even mention ICE. That's another one like a domestic political story. And things like that start to get buried.

And I think it just shows the way that the president and this White House like to react, and basically, you know, run the country or the world.

And so, you end up in a situation where you have a speech that talks about laziness and cheating the Davos class,

But it's also going to be a lot about Greenland. I mean, it's one of those things that goes with the whole tariff question.

We'll talk more about Greenland. Professor Sachs has a very strong view on this. Uhmine I'm usually curious about your appearance, I don't care.

I hate Europeans, and I don't care much about Greenland. At the end of the day, you know, yeah, a strategy.

We have an agreement where we can basically do whatever we want. I want the Greenlanders to be okay. The idea that Denmark owns Greenland as a colony,

is, in my opinion, ridiculous. Oh, especially when we're talking about the Kingdom of Denmark. You're like, "Okay, oh, put all that aside, although I mean,

You know, I've talked to Israel about it. I've talked to Israel about it. Ukraine, and the same basic strategy applies here. Is Greenland being part of the US strategically important to the US conceptually, because of the melting polar ice caps and all that?

Yeah, you could make a case. Is it important enough to jeopardize our trade relations with the world’s largest economies in Europe? Andes,

We can talk about their declining influence and all that. Obviously, no. Like, that’s not something you would center, you know,

Your whole geopolitical orientation on the Greenland question. That’s what I said when I was talking about Ukraine and Russia.

That’s what I said. It’s funny. Like, sure, yeah, Greenland, well, let’s try to buy it or whatever. Okay, oh, and just basically, I guess

that the agreement that we have right now as part of our country will be extended. I don't even think most people would care about it particularly.

Although they would care if you spend a lot of money on Greenland, and then people have a problem of affordability here at home, too.

Uh, but generally it's the same logic that applies, that you have billions of mutual trade with France, Germany, Britain, and Denmark. By the way, Denmark has patented Novartis.

You know OAMIC. So if Americans, you know, you care about it, then certainly you should care a little bit about uhDenmark here in particular, Norway, Sweden,

We actually do a lot of high technology, uh, trade transfers, and we do it all with these countries. You know our relations with these countries should be based on our mutual interests.

And you could say that Greenland is also an interest I accept, you know, to a certain extent, but I don't think it's as compelling to re-base as Ukraine,

where we've based all of our foreign policy and economic policy around this country, which doesn't matter here, so far, you know,

a wasteland where, yes, a few military bases and some military bases, which can make a big case for you. But I don't think people at home are buying it,

especially when Trump is making all this about himself, and didn't he get the Nobel Peace Prize? Again, it's like, yeah, it's insulting, right?

He doesn't even bother with his war propaganda, his victory propaganda anymore. It's like, my ego is hurt that I didn't get the Nobel Peace Prize,

So you should give me Greenland. Like, yeah, that's a message that's really going to resonate with the American people. Getting out of everything, like the Venezuela operation, has some support.

Amit is not really what people were looking for in this administration. People are already very hostile. Now, like the relatively isolated periods of running Venezuela in the case of Maduro’s kidnapping.

It’s still extremely unpopular. But some of the logic about Venezuela that fails logic on Venezuela also applies to Greenland. Like, does Venezuela have natural resources that would be useful? Yes, could we have gotten those resources without all this madness? Same with Greenland? Do they have anything that would be useful to us?

including strategic positioning as the polar ice caps melt? Sure, do we already have the capacity to put our military there and deal with it? Yes, we do. So what’s all this about?

And you know, a lot of things with Trump ultimately come down to show off and ego, right? He wants to show off, and I think it's for his legacy.

Richer region than the rest of the world. You still talk about a lot of trade relations, and you know important things like the Impec that runs through the region.

So, um, you know, it's nothing to hear this region completely brazenly that you feel like you're going to take it.

Because we want it. The Europeans have really tried to get you to know Trump. They've tried to appease him. They've tried not to anger him.

And so you're forcing them to make a decision where it's no longer viable. You even had the AfD, which is the far-right party in Germany.

Who you know, Elon Musk went and talked to, and one of their wings is banned because they're neo-Nazis. Whatever. They've done a lot to reach out to Trump and the MAGA movement in America.

Even their leader had to come out and condemn these actions regarding Greenland. So if you're getting this kind of left-right political alliance again in Europe

Then they have to answer to their domestic constituencies. They have to answer to their own sovereignty. Yes. And yes, that's absolutely right. And Emmanuel Macron, who you know,

He's incredibly unpopular in France. He came out, and he made one of the strongest statements that the European Union should use its most aggressive

What's called the trade bazooka, most of which they've ever used here to try to push back. So, you're kind of forcing it.

Um, Canada, you know, the strongest example here, where, um, Mark Carney, who I think is extremely intelligent, um, understands the financial system because he was a central banker, he visits China and says, "Hey,

Expanded America, you know, the expansion of America. He likes it. He thinks it's a good reality show kind of drama. He thinks it's going to be quick and easy.

The way he looks at Venezuela, you know, as we're in the early days and we haven't seen all the outcomes and the consequences and what it could potentially lead to,

he looks at Greenland as an easy target and an easy target. And I don't think it gets much more complicated than that. But in the meantime, you know,

I mean, look, Europe is relatively weak, right? They've certainly, you know,

declined over the years. You're still talking about the EU with 450 million people. You're talking about that, too, Houba.

Richer region than the rest of the world. You still talk about a lot of trade relations, and you know important things like the Impec that runs through the region.

So, um, you know, it's nothing to listen to this region completely brazenly that you feel like you feel like we're going to take it because we want it.

The Europeans have really tried to get you to know Trump. They've tried to appease him.

They've tried not to upset him. And so you're forcing them to make a decision where it's no longer viable. You even had the AfD.

which is a far-right party in Germany that you know Elon Musk went and talked to, and one of their wings is banned because they're neo-Nazis.

Whatever. They've tried very hard to reach out to Trump and the MAGA movement in America. Their leader also had to come out and denounce these actions regarding Greenland.

So if you're going to have this kind of left-right political coalition again in Europe, they have to answer to their domestic constituencies. They have to answer to their own sovereignty. Yes.

And um, yes, that's absolutely right. And Emmanuel Macron, who you know is incredibly unpopular in France. He came out, and he made a very strong statement.

saying that the European Union should use its most aggressive, what's called the trade bazooka, its most

aggressive set of policies that they've ever used to try to push back here.

So, you're kind of forcing it. Um, Canada, you know, the strongest example here is where, um, Mark Carney, who I think is extremely intelligent,

understands the financial system because he was a central banker. He visits China and says, "Hey, we're going to do a deal with you. Actually, you know,

We want to jointly build some more of your EVs in our country. We can use your technology and build electric vehicles in Canada,

This was unthinkable a few years ago when Canada and China had incredibly strained relations, so I mean, it's kind of forcing a global reckoning.

which you know, now you're going to want to. Calm the waters and go along and see if we can get this thing done. Yeah, I was talking to Dave Smith, and I think Greenland is ridiculous, but then they persist.

Oh, they're saying, but it would be the end of NATO, and we know very well that it probably wouldn't be such a terrible thing, because Oh and of course it's a hoax for anyone who wants to take it out of context but generally you know if you look at the recent situation you know that just the US relationship with NATO means

But that doesn't mean that there are massive relationships with NATO. And a source of tension in Eastern Europe. I've seen it as a huge liability with Poland,