U.S. President Donald Trump has announced forming a framework of a deal to acquire Greenland and the entire Arctic region after fierce pressure on Denmark and other European countries.

Mr Trump made the announcement on Wednesday via his Truth Social platform.

“We have formed the framework of a future deal with respect to Greenland and in fact, the entire Arctic Region,” the U.S. leader announced in a social media post on Wednesday. “This solution, if consummated, will be a great one for the United States of America and all NATO nations.”

Mr Trump also said that he would not go ahead with the imposition of tariffs on the EU countries. 

Mr Trump said the decision was the outcome of “a very productive meeting” that he had with Mark Rutte, secretary of  NATO.

“Based upon this understanding, I will not be imposing the tariffs that were scheduled to go into effect on February 1st,” wrote the Republican president.

Rasmus Jarlov, chair of the defence committee in Denmark’s Parliament, insisted Greenland was not for sale.

“He insists he wants Greenland, but that’s not new. Of course, we still insist that we are not handing over Greenland,” Mr Jarlov said on Wednesday shortly after Mr Trump’s speech at the World Economic Forum in Switzerland.

Since capturing Venezuelan President Nicolás Maduro and his wife on January 3, Mr Trump has repeatedly pressed for U.S. acquisition of Greenland, arguing that such a move is necessary for national security reasons.

Speaking for about an hour at the Forum in Davos, the president ruled out the use of military force to acquire the Danish territory, while also using the platform to criticise European leaders.