CNBC Daily Open: A 'concept' of a plan on Greenland and no more European tariffs — Trump's remarkable day at Davos

The tariff timepiece stopped conscionable successful time.

U.S. President Donald Trump announced Wednesday that helium and NATO Secretary General Mark Rutte person agreed connected what helium called a "framework of a aboriginal deal" involving Greenland, prompting him to propulsion backmost threatened tariffs connected European countries that were acceptable to instrumentality effect Feb. 1.

Details, for now, stay elusive. Trump described the model arsenic much of a "concept" successful an interrogation with CNBC's Joe Kernen, saying it would impact U.S.-European collaboration connected a projected Golden Dome rocket defence strategy and entree to mineral resources successful Greenland.

Trump, however, demurred erstwhile pressed for specifics, saying, "It's a small spot complex, but we'll explicate it down the line."

Markets did not hold for the footnotes. The "sell America" commercialized that rattled investors earlier this week rapidly reversed connected the news. U.S. stocks changeable up, with large indexes climbing much than 1% by the close, portion the 10-year Treasury output fell and the U.S. dollar scale strengthened.

Other topics Trump discussed with CNBC see his prime for the next Federal Reserve chair, U.S. engagement successful Iran and his propulsion to headdress involvement rates connected recognition cards.

Trump had given a speech earlier successful the time astatine the World Economic Forum successful Davos, wherever helium called for "immediate negotiations" implicit Greenland's future but said the U.S. would not prosecute subject action.

The developments capped a striking day astatine Davos, whose taxable this twelvemonth was "A Spirit of Dialogue," adjacent arsenic discussions crossed the league were dominated by frayed alliances and geopolitical tension.

For now, astatine least, dialog appears to person done its job, arsenic discussions betwixt Trump and Rutte implicit Greenland helped little temperatures implicit the icy island.

— CNBC's Kevin Breuninger contributed to this report.

U.S. has a Greenland woody 'framework': Trump. The U.S. president said Wednesday helium and NATO Secretary General Mark Rutte person formed a "framework of a aboriginal deal with respect to Greenland," prompting him to telephone disconnected threatened tariffs connected European countries.

European lawmakers suspend U.S. commercialized deal. Bernd Lange, seat of the European Parliament's Committee connected International Trade, said Trump's plans to enforce tariffs connected European nations go against the presumption of the commercialized pact.

South Korea's economical maturation misses expectations. The system expanded 1.5% successful the October to December period from a twelvemonth earlier, missing economists' forecast for a 1.9% growth. On a quarterly basis, gross home merchandise contracted 0.3%.

U.S. stocks rebound arsenic Trump retracts tariffs. Major U.S. indexes popped much than 1% connected Wednesday, led by tech stocks. The pan-European Stoxx 600 was unchanged, but the Stoxx Europe 600 Basic Resources Index roseate 3.7%.

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