President Trump makes a head spinning U-turn on Greenland,
calling off tariffs on Europe and saying he won't use force to take the island.
How is Europe responding?
A lot of European officials that I've been speaking to in recent days are somewhere between days shocked and confused.
And even though this is now a new de-escalation, they're still just as shocked,
just as confused and just about as anxious as they were before.
Trump's comments about a framework for a Greenland deal in the afternoon send stock markets searching.
Plus,
Federal Reserve Governor Lisa Cook seems likely to keep her job after a hearing at the Supreme Court.
It's Wednesday, January 21st.
I'm Alex Osela for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
A day that started with high tensions between the US and Europe has taken on a more conciliatory tone.
President Trump said this afternoon that he wouldn't impose tariffs on several European countries after he reached the,
quote,
framework of a future deal on Greenland and the Arctic region with NATO Secretary-General Mark Rutte.
Trump's de-escalating had started earlier today in a speech at Davos when he ruled out the use of force in his pursuit of Greenland.
We probably won't get anything unless I decide to use excessive strength and force where we would be frankly unstoppable.
But I won't do that.