Trump Tariff Vows Over Greenland Rattle Nordic Markets

Former US President Donald Trump's renewed pledge to impose tariffs on Europe over the Greenland dispute has sent immediate ripples through Nordic financial markets. A Reuters report detailing the January 18 vow triggered a slide in regional stocks and a weakening US dollar. Norwegian officials, speaking to the Financial Times, have dismissed intelligence claims related to the dispute as unfounded. The market reaction underscores the persistent sensitivity of Arctic geopolitics to US political rhetoric. European leaders, including Italian Prime Minister Giorgia Meloni, have reportedly warned of a dangerous escalation. Meloni is said to have spoken directly with Trump following his comments. The immediate financial volatility highlights how Trump's focus on Greenland, a territory with deep historical and strategic ties to Norway and Denmark, acts as a direct pressure point. For Norway, a non-EU member but close ally, such disputes complicate its balancing act between transatlantic relations and European solidarity. Market analysts noted the specific impact on Oslo's benchmark index, with energy and maritime sectors showing particular sensitivity. The situation recalls previous tensions over Arctic sovereignty and resource access in the Barents Sea and near Svalbard. Norwegian parliamentarians in the Storting have long monitored US policy shifts that could affect the High North. The government in Oslo has consistently advocated for stability and international law in the region. Further statements from the Norwegian foreign ministry are anticipated as the situation develops.