Good morning from The Financial Times.
Today is Wednesday, January 21st, and this is your FT News Briefing.
The rising risk of an all-out trade war between the US and Europe is rattling global markets.
We explore what financial leverage America's allies could use to push back.
Plus, China is selling vital weapons components to both Ukraine and Russia,
but experts are convinced Russian buyers actually have an advantage.
I'm Victoria Craig, and here's the news you need to start your day.
U.S.
President Donald Trump is pushing ahead on his plan to take over Greenland,
and during a press briefing yesterday, he did not rule out using military force.
It's a desire that's put him on a collision course with America's NATO allies.
That's because he's threatened a fresh round of 10% tariffs
if they do not fall in line within the next roughly two weeks.
I think that we will work something out when NATO is going to be very happy.
and we're going to be very happy.
But we need it for security purposes.
The threat of a trade war has been met with fierce opposition and strong market reaction.
The S&P 500 dipped more than 2% yesterday while the dollar fell 9.10% against the euro.
Meanwhile, Europe's stock 600 index shed 7.10% while the yield on the benchmark 10-year U.S.
Treasury note hit its highest level since September.