U.S. President Donald Trump is likely to ramp up his push to acquire Greenland when he descends on Davos on Wednesday, facing down European opposition to his plans in the biggest fraying of transatlantic ties in decades.

Mr Trump, who marked the end of a turbulent first year in office on Tuesday, is expected to overshadow the annual World Economic Forum (WEF) meeting in the Swiss mountain resort, where global elites chew over economic and political trends.

Mr Trump told a news conference on Tuesday that he would have meetings about the Danish territory of Greenland in Davos and was optimistic that an agreement could eventually be reached.

“I think we will work something out where NATO is going to be very happy and where we’re going to be very happy. But we need it for security purposes. We need it for national security,” he said.

NATO leaders have warned that Mr Trump’s Greenland strategy could upend the alliance. In contrast, the leaders of Denmark and Greenland have offered a wide array of ways for a greater U.S. presence on the strategic island territory of 57,000 people.

“You’ll find out,” said Mr Trump, who has linked Greenland to his anger at not receiving a Nobel Peace Prize, when asked how far he was willing to go.

U.S. Treasury Secretary Scott Bessent further stoked the war of words being played out with Washington’s allies on Wednesday when he called Denmark “irrelevant.”

“Denmark’s investment in the U.S. Treasury bonds, like Denmark itself, is irrelevant,” Ms Bessent said in Davos when asked whether the issue could spark a sell-off in U.S. Treasuries by investors in Europe, such as pension funds in Denmark and elsewhere.

NATO Secretary General Mark Rutte declined to comment on the tensions but said work was going on to bolster the Arctic.

“President Trump and other leaders are right. We have to do more there. We have to protect the Arctic against Russian and Chinese influence,” he said during a panel discussion.

“We are working on that, making sure that collectively we’ll defend the Arctic region,” Mr Rutte added.

Mr Trump has been unrelenting in making his case for acquiring Greenland as an Arctic guardpost against Russia and China and has threatened a trade war with Europeans who oppose him.

There is little evidence that many Chinese or Russian ships pass near Greenland’s coasts, while Russia says talk of Moscow and Beijing being a threat is a myth to whip up hysteria.

Emboldened by his ousting of Venezuelan President Nicolas Maduro and seizing control of that country’s oil, Mr Trump has talked of acting against Cuba and Colombia as well as Iran.

He has not ruled out the use of the U.S. military to snatch Greenland, which has an American military base.

Sources familiar with the situation have previously told Reuters that Mr Trump’s push on Greenland is related to a legacy-building desire to expand the territory of the United States in the biggest way since 1959.

That was when two U.S. territories – Alaska and Hawaii – became the 49th and 50th U.S. states under Republican President Dwight Eisenhower.

In a breach of diplomatic protocol, Mr Trump released the text of a private message he received from Emmanuel Macron in which the French president urged Mr Trump to join him and other G7 leaders in Paris after Davos, an idea Mr Trump dismissed.

“I do not understand what you are doing in Greenland,” wrote Mr Macron.

Mr Macron’s office said on Wednesday that France asked for a NATO exercise in Greenland and ready to contribute to it, while Copenhagen declined to comment on a TV2 report that it was considering deploying up to 1,000 soldiers there in 2026.

Mr Trump’s original mission in Davos was to talk up the strength of the U.S. economy in a keynote address on Wednesday.

He said he would use this to discuss economic successes at home, despite opinion polls showing Americans are broadly unhappy with his handling of the economy.

The White House said he would address the rising cost of housing with a plan to let Americans use money in their 401(k) retirement savings plans for down payments on homes.

“President Trump will unveil initiatives to drive down housing costs, tout his economic agenda that has propelled the United States to lead the world in economic growth, and emphasise that the United States and Europe must leave behind economic stagnation and the policies that caused it,” a White House official said.

Mr Trump also plans separate meetings with the leaders of Switzerland, Poland, and Egypt and is due to preside on Thursday over a ceremony marking the Board of Peace, a group he formed that is aimed at redeveloping Gaza.

Mr Trump raised some worries by saying it may work on other global crises, a role usually performed by the United Nations.

The president, who returns to Washington late on Thursday, said on Tuesday that he likes the idea, but it has “never lived up to its potential.”

(Reuters/NAN)