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The president's strategy drove recent events. He and the speaker discussed it at length on Sunday. The president may have goaded China into a bad position, leading them to be perceived as bad actors. The U.S. is willing to cooperate with allies and trading partners who did not retaliate. The message was simple: don't retaliate, and things will turn out well.

Speaker 0 notes that Trump used the Davos stage to demand Greenland back, warning allies to back off or face massive tariffs, calling Greenland “a piece of ice.” Speaker 1 says the goal is a piece of ice for world protection; the U.S. could have kept the land but chose not to, giving Greenland a choice to say yes and be appreciated or no and be remembered. Greenland is reportedly protesting in the streets, saying “hands off our country.” Speaker 0 adds that Trump has struck a deal framing a future agreement on Greenland and the Arctic, posted on Truth Social, stating that based on a productive meeting with the Secretary General of NATO, Marruta, a framework for a future deal with respect to Greenland and the Arctic has been formed, and that tariffs scheduled for February 1 will not be imposed. Speaker 2 challenges the claim, noting NATO doesn’t own Greenland, and questions whether Marruta can make such a deal. Speaker 0 continues the exchange, joking about not wanting a Met Gala, and suggests the post hints at the U.S. taking control of Canada as well because of Arctic interests. Canadian Prime Minister Carney responds by saying Canada will invoke Article 5 and support NATO to protect Denmark, with Denmark also unwilling to cede sovereignty following the framework. Speaker 2 adds that two people are deciding the fate of Greenland, and another participant begins to speak. Speaker 0 provides population context, saying about 57,000 people live in Greenland. Speaker 0 then mentions Putin’s response, quoting a brief remark that he’s “kinda behind this idea.” Speaker 2 notes Ravasi’s commentary and asks for a referendum, which Speaker 3 says would give Greenlanders a semblance of deciding for themselves, though it’s unclear how such a referendum would impact broader strategic interests. Speakers turn to Ralph Schulhammer, who is in Austria, to assess European reaction. Speaker 3 says Trump’s rhetoric in Davos was “very Trumpian” but contained carrots as well as sticks: he highlighted ancestry, support for a strong Europe, concerns about migration and energy policy, and suggested that Europe must strengthen itself to be a true partner; otherwise, the U.S. may retreat. The discussion acknowledges sentiment that Europe’s elites tend to frame issues as global rather than addressing national needs, with Speaker 3 arguing that policy-wise there can be shared interests, but communication strategy differed from Trump’s approach. The panel considers whether Greenland’s referendum would matter, noting that many peoples pursue autonomy but that Greenland’s outcome would not necessarily alter large strategic interests. They discuss historical precedents of land acquisitions and acknowledge the Greenland dispute sits at the intersection of Arctic strategic interests and great-power competition, including China and Russia’s activity in the region. Speaker 3 emphasizes that the future of Europe should be anchored in defending European territory and citizens, not only global agendas, and critiques the perception that Europe should always prioritize global issues over internal concerns. In closing, Speaker 0 references Macron’s overture to meet in Paris, noting Trump’s remark that Macron won’t be in power much longer. Ralph Schulhammer is thanked for his insights, with recognition of his Hammertime podcast.

The speaker confirms the USMCA is in place and considered a good deal for all countries. The speaker expresses dislike for the previous person they worked with on the deal, claiming she was terrible and tried to take advantage of the deal. This led to a bad relationship that was ended. A negotiation is coming up in the next year or so to adjust or terminate the USMCA.

The White House announced the deal with the UK because the deal was complete, contrary to claims. The president and prime minister spoke about the phenomenal deal, and discussions will continue. Trade deals involve an initial agreement, framework, and deal, followed by finalizing details. The numbers are determined, and market access will remain. The president is committed to a 10% baseline tariff, not just for the UK, but for all trade negotiations with other countries. The president is determined to continue with the 10% baseline tariff permanently, even after the deals are done.

The world has been cheating the U.S. for decades with tariffs and non-tariff barriers like VAT taxes, dumping, currency manipulation, and technical and agricultural barriers. These barriers transfer $1.2 trillion of wealth abroad annually, and $18 trillion since the U.S. started running deficits. The president's strategy is to charge other countries what they charge the U.S. It's easy to calculate the tariff differential, but non-tariff barriers are much higher. The U.S. paused for ninety days, knowing countries would want to bargain, and anticipates potentially having 90 deals in 90 days. The speaker believes this pause was a success for President Trump, and they are going to get this done for the American people.

The negotiating party returned completely, and the negotiations were completely successful. A champagne bottle was opened to celebrate the successful negotiations.

Speaker 1 states that a deal with Canada is not being held up, but rather, there are different concepts being considered. Speaker 1 favors tariffs because they are simple, easy, and precise. Mark has a more complex, but also very good, idea. They are going to consider both concepts. Speaker 1 believes a deal is achievable if both parties agree.

The European Commission's retaliatory tariffs are still on the table if a deal with President Trump cannot be made. Speaker 1 believes a deal can be made and offers to help. Their goal is to invite President Trump to Italy for an official visit and explore the possibility of a meeting with Europe, advocating for frank discussions to find mutually beneficial solutions. Speaker 1 believes that together, both sides are stronger and is committed to finding the best way to reinforce this strength on both sides of the Atlantic. Speaker 0 claims that making a deal with Europe will not be a problem because the U.S. has something that everyone wants.

China has agreed to fully open its country, which will be beneficial for both China and the United States, and will promote unification and peace. China will also suspend and remove all of its non-monetary barriers. The agreement needs to be formalized, but China has agreed to open up.

The speaker claims his administration brokered a historic ceasefire between India and Pakistan using trade as leverage, suggesting they trade goods instead of nuclear missiles. He praises the "very powerful," "strong," "good," and "smart" leaders of both countries. He expresses hope the ceasefire will hold and commends Marco Rubio, Marco Stanup, JD Vance, and the entire group for their hard work. He suggests arranging a dinner between the leaders. He states that millions of people could have died from the escalating conflict.

We also recognize potential challenges in the relationship with The United States, and we are ready for that. When targeted, unfairly or arbitrarily, the European Union will respond firmly. This weekend, we witnessed how steep tariffs were imposed on Canada and Mexico. Those tariffs raise business costs. They harm workers and consumers. They create unnecessary economic disruption and drive inflation. We do not see much good coming out of this. At the same time, the European Union remains also steadfast in its multilateral commitments, be it from our development aid to our climate targets.

The European Commission's retaliatory tariffs are still on the table if a deal with President Trump cannot be made. Speaker 1 believes a deal can be made and aims to invite President Trump to Italy for an official visit, potentially organizing a meeting with Europe. The goal is to frankly discuss everyone's needs to find a mutually beneficial middle ground. Speaker 1 believes that together, both sides are stronger and is seeking the best way to reinforce both shores of the Atlantic. Speaker 0 claims that making a deal with Europe will not be a problem because the U.S. has something that everyone wants.

The president increased tariff rates to offset Chinese retaliation, escalating the situation. Both sides added 25% tariffs, with China implementing additional non-tariff measures that effectively created an embargo on trade. This embargo is considered unsustainable for both sides.

President Trump's strategy was to hit back very hard. The media predicted civilization would melt down. However, half the countries in the world decided to lower trade barriers and make a deal with the president. They needed access to US markets and determined it was in their best interest. These countries came to the table because of President Trump's actions. Some may not want to admit it, but it is the truth. Deal-making is an art, and President Trump has mastered it.

The speaker states they are in dialogue with the prime minister and believes he is happy with how they treated them with tariffs. The speaker addresses foreign leaders, urging them to terminate their tariffs, drop barriers, and stop manipulating currencies, which they claim is devastating. They request these leaders buy tens of billions of dollars of American goods. The speaker asserts tariffs protect the country from economic harm and will lead to unprecedented growth, adding that this growth has already started.

The speaker states that China wants to make a deal with the United States and believes China has to make a deal. China made a mistake when it retaliated. When America is punched, the president punches back harder, which is why 4% tariffs will go into effect on China tonight at midnight. The president believes that Xi and China want to make a deal, but they just don't know how to get that started. If China reaches out to make a deal, the president will be incredibly gracious but will do what's best for the American people. The Chinese want to make a deal, but they just don't know how to do it.

The tariff on China will increase to 25% because China retaliated against the U.S. More than 75 countries have contacted the White House to negotiate better trade deals. There will be a 90-day pause on reciprocal tariffs during negotiations, and the tariff level will be reduced to a universal 10%. According to the Treasury Secretary, President Trump's negotiating strategy has brought more than 75 countries forward to negotiate. Countries that do not retaliate will be rewarded with a 10% baseline tariff. China's tariff will be raised to 25% due to their insistence on escalation.

The speaker presented to the European Council different possibilities for free trade agreements. The most attractive option is cooperation between the EU and CPTPP (Asian countries), as both desire structured cooperation. This cooperation could be the beginning of redesigning the WTO, reforming it for the positive and avoiding past mistakes. The goal is to show the world that free trade with a large number of countries is possible on a rules-based foundation. Engaging in this project between the CPTPP and the EU is important because of its potential impact.

EU Commission President Ursula von der Leyen recently visited Canada to sign an agreement for increased collaboration between the two economies. The purpose of this summit is to further strengthen the framework discussed during that visit. Although the summit is short, lasting only a day and a half, it provides an excellent opportunity for Canadian officials to discuss shared priorities with European leaders.

Trump removed the Philippines and Indonesia from his tariff hit list at 19% each, and Japan at 15%. Japan has $550 billion invested in the U.S. and has created thousands of jobs. According to Speaker 1, the U.S. just signed the largest trade deal in history with Japan. He states that it's a great deal for everybody, a lot different from deals in the past, and that the U.S. is doing really well as a country with a lot of money flowing in.

With this agreement, reciprocal tariff rates will decrease to 10% on both the United States and Chinese sides, representing a 15% reduction for the United States and a 15% reduction for China. A 90-day pause period for negotiations will commence, with commitment from both countries. China will also remove countermeasures currently in place. However, other tariff measures implemented by the United States in the past, including those from 2018, tariffs under other statutory authorities, and tariffs related to fentanyl, will remain unchanged for now.

The speaker believes President Trump has "won" because 40% of the world's countries are supposedly trying to reduce tariffs with America due to his actions. The speaker claims China wants a deal, not primarily for economic reasons, but to "save face." China's economy is allegedly in its worst shape in 25 years, making it unable to withstand further economic conflict. The speaker asserts China is quietly seeking a deal with President Trump, similar to 40% of countries worldwide. The speaker urges seizing the opportunity and pursuing a deal aggressively.