India, Jan. 22 -- U.S. President Donald Trump reversed course on Wednesday, ruling out the use of force or imminent tariffs over Greenland and announcing a new framework for Arctic cooperation with NATO allies. U.S. financial markets saw a relief surge in response to the abrupt de-escalation that followed a meeting with NATO commander Mark Rutte in Davos.

Speaking at the World Economic Forum in Davos, President Trump announced he would not impose tariffs scheduled for February 1st related to Greenland. He ruled out using military force, stating, "I don't have to use force." This marked a sharp reversal from weeks of aggressive rhetoric that had threatened a trade war and strained relations with Denmark, which governs Greenland. Trump sai...