US Treasury Chief Slams Europe’s ‘Anger’ Over Tariff Warnings
US President Donald Trump is set to join other prominent government and business leaders on Wednesday at the World Economic Forum in Davos, Switzerland. This follows a day of contentious statements and economic threats stemming from the tensions between the US and Europe during the elite event. Nearly 3,000 high-level participants from 130 countries, along with an untold number of activists and observers, are anticipated to gather at the annual event, which is set to continue through Friday for dialogue, debate, and deal-making in the Alpine resort. Trump’s third visit as president occurs amid concerns from US allies regarding his ambitions to take over Greenland, while Latin America contends with his attempts to seize Venezuela’s oil.
European Commission President Ursula von der Leyen on Tuesday described Trump’s planned new tariffs on eight of its countries over Greenland as a mistake and raised concerns about Trump’s trustworthiness. French President Emmanuel Macron stated that the EU could respond by utilizing one of its most formidable economic instruments, often referred to as a trade bazooka. Here is the latest: Trump is anticipated to arrive 3 hours behind schedule. Bessent stated that Trump is anticipated to arrive in Switzerland approximately three hours later than his initial schedule. Trump is set to deliver a highly anticipated address at Davos on Wednesday.
The AP inquires of Bessent regarding the downturn on US Market. It is inquired of Bessent regarding the market decline on Tuesday, following Trump’s warning of potential new tariffs on eight European nations amid rising tensions related to his efforts to claim American dominance over Greenland. The losses were extensive, affecting nearly every sector. Major indexes in the US continued to decline from last week, marking a shaky beginning to the year. The S&P 500 declined by 143.15 points, representing a decrease of 2.1 per cent, closing at 6,796.86. The benchmark index has experienced its steepest drop since October. Bessent stated, “I am not concerned.” US Treasury Secretary Scott Bessent on Wednesday expressed disapproval of Europe’s anger and bitterness regarding Trump’s tariff threat. Bessent urged the European Union to await Trump’s arrival in Davos. He stated that he is confident Europeans will be convinced to back Trump’s concerns regarding Greenland once they are presented with his reasoning. Bessent expressed his frustration with the US Federal Reserve. The Supreme Court is set to hear arguments on Wednesday regarding Trump’s attempt to remove Federal Reserve governor Lisa Cook, who denies allegations of mortgage fraud against her. In the agency’s 112-year history, no president has dismissed a sitting Fed governor.
Trump is on his way to Davos following issues with his plane. The US Treasury secretary has criticized Europe’s ‘anger’ regarding the threat of tariffs. Trump’s arrival in Switzerland has been postponed due to mechanical difficulties. Late Monday, a minor electrical issue occurred on Air Force One, the aircraft designated for presidential transport. The crew opted to turn the plane around approximately 30 minutes into the flight, prioritizing safety and caution. Trump boarded another aircraft, an Air Force C-32, a modified Boeing 757 typically utilized by the president for domestic journeys to smaller airports, and proceeded with his trip to Davos shortly after midnight.
