‘US is making mistake’: EU chief confronts Trump over Greenland tariffs at Davos | WEF Summit 2026 - video Dailymotion

The Economic Times

European Commission President Ursula von der Leyen has issued a blunt warning to the United States, saying proposed tariffs linked to Greenland are a mistake. Speaking at the World Economic Forum in Davos, von der Leyen said Arctic security can only be achieved collectively and stressed that trade penalties between long-standing allies would undermine cooperation.

Transcript

00:00Arctic security can only be achieved together.

00:05And this is why the proposed additional tariffs are a mistake,

00:10especially between long-standing allies.

00:14The European Union and the United States have agreed to a trade deal last July.

00:20And in politics, as in business, a deal is a deal.

00:25And when friends shake hands, it must mean something.

00:31We need to work with all our regional partners to strengthen our common security.

00:38And this is why we will look at how to strengthen our security partnerships

00:42with partners such as the UK, Canada, Norway, Iceland and others.

00:49Finally, I believe Europe needs to adjust to a new security architecture

00:56and realities that we are now facing.

00:59And this is why Europe is preparing its own security strategy,

01:04which we plan to publish later this year.

01:06And as part of this, we are upgrading our Arctic strategy too.

01:12And at the heart of this will be the fundamental principle.

01:16It is for sovereign people to decide their own future.

01:231971 was the year of the so-called Nixon shock

01:28and the decision to delink the US dollar from gold.

01:34In an instant, the foundations of the Bretton Woods system

01:38and the entire global economic order set up after the war

01:43effectively collapsed.

01:47But it also had two major effects.

01:50It inadvertently created the conditions for what would become a truly global order

01:58and it provided a sharp lesson for Europe and on the need

02:03to strengthen its economic and political power.

02:08It was a warning to reduce our dependencies,

02:11in this case, on a foreign currency.

02:16The world may be very different today, without any question,

02:20but I believe the lesson is very much the same.

02:24that geopolitical shocks can and must serve as an opportunity for Europe.

02:33And in my view, the seismic change we are going through today

02:37is an opportunity, in fact, a necessity,

02:42to build a new form of European independence.

02:47And this need is neither new, nor a reaction to recent events.

02:52It has been a structural imperative for far longer.

02:59So when I used this term,

03:02European independence,

03:04around a year ago,

03:06I was surprised at the skeptical reactions.

03:10But less than one year on,

03:13there is now a real consensus around this.

03:16The sheer speed and almost unthinkable scale of the change have driven this,

03:23but the underlying imperative is still the same.

03:29The good news is,

03:31we acted immediately.

03:33Whether on energy,

03:35or raw materials,

03:37defense,

03:39or digital,

03:39we're moving fast.

03:42But the truth is also

03:44that we will only be able to capitalize on this opportunity

03:49if we recognize that this change is permanent.

03:55Of course, nostalgia is part of our human story,

03:58but nostalgia will not bring back the old order.

04:01And playing for time

04:04and hoping for things to revert soon

04:07will not fix the structural dependencies we have.

04:13So my point is,

04:15if this change is permanent,

04:18then Europe must change permanently too.

04:21It is time to seize this opportunity

04:25and build a new independent Europe.

04:31And ladies and gentlemen,

04:33this new Europe is already emerging.

04:38On Saturday,

04:39I was in Asunción,

04:40in Paraguay,

04:41to sign the EU-Mercosur trade agreement.

04:45It was a breakthrough

04:48after 25 years of negotiations.

04:53And with it,

04:55the European Union and Latin America

04:57have created the largest free trade zone in the world,

05:02a market worth over 20% of global GDP,

05:0831 countries

05:10with over 700 million consumers,

05:13aligned with the Paris Agreement.

05:18So this agreement sends a powerful message to the world

05:21that we are choosing fair trade over tariffs,

05:27partnership over isolation,

05:32sustainability over exploitation,

05:36and that we are serious about

05:39de-risking our economies

05:41and diversifying our supply chains.

05:44And that will not stop in Latin America.

05:48Last year,

05:49we reached new agreements

05:50with Mexico,

05:52Indonesia,

05:53and Switzerland,

05:54our host country.

05:56We're working on a new free trade agreement

05:59with Australia.

06:01We are also advancing

06:03with the Philippines,

06:04Thailand,

06:05Malaysia,

06:05the United Arab Emirates,

06:07and more.

06:08And right after Davos,

06:12the next weekend,

06:14I will travel to India.

06:17There's still work to do,

06:19but we are on the cusp

06:21of a historic trade agreement,

06:24indeed,

06:25some call it the mother

06:26of all deals,

06:28one that would create

06:30a market

06:30of 2 billion people

06:33accounting for almost

06:36a quarter of global GDP.

06:39And crucially,

06:40that would provide

06:41a first-mover advantage

06:43for Europe,

06:44with one of the world's

06:46fastest-growing

06:47and most dynamic continents.

06:50Europe wants to do business

06:53with the growth centers of today

06:55and the economic powerhouses

06:56of this century.

06:58From Latin America

06:59to the Indo-Pacific

07:01and far beyond,

07:03Europe will always

07:04choose the world

07:06and the world

07:07is ready to choose Europe.

07:10So I would like

07:11to conclude

07:12with Greenland.

07:15An issue

07:16which cuts

07:18to the heart

07:18of all three

07:20of these imperatives.

07:21when it comes

07:25to the security

07:26of the Arctic region,

07:28Europe is fully committed.

07:32And we share

07:33the objectives

07:34of the United States

07:35in this regard.

07:38For instance,

07:39our EU member,

07:41Finland,

07:42one of the newest

07:43NATO members,

07:45is selling

07:45its first icebreakers

07:47to the United States.

07:48And this shows

07:50that we have

07:51the capability

07:52right here

07:53in the ice,

07:54so to speak.

07:56It shows

07:57that our northern NATO

07:58members have

07:59Arctic-ready forces

08:00right now.

08:02And above all,

08:04that Arctic security

08:05can only be achieved

08:06together.

08:09And this is why

08:11the proposed

08:12additional tariffs

08:13are a mistake,

08:15especially between

08:16long-standing

08:17allies.

08:19The European Union

08:20and the United States

08:21have agreed

08:23to a trade deal

08:24last July.

08:26And in politics,

08:28as in business,

08:30a deal

08:30is a deal.

08:33And when friends

08:34shake hands,

08:35it must mean

08:36something.

08:39Ladies and gentlemen,

08:41we consider

08:42the people

08:43of the United States

08:44not just our allies,

08:46but our friends.

08:49And plunging us

08:50into a downward spiral

08:51would only aid

08:53the very adversaries

08:55we are both

08:56so committed

08:57to keeping out

08:58of the strategic landscape.

09:01So our response

09:03will be unflinching,

09:05united,

09:06and proportional.

09:07But beyond this,

09:12we have to be

09:12strategic about

09:13how we approach

09:15this issue.

09:16And this is why

09:17we are working

09:18on a package

09:18to support

09:19Arctic security.

09:21First principle,

09:23full solidarity

09:24with Greenland

09:25and the Kingdom

09:25of Denmark,

09:27the sovereignty

09:28and integrity

09:28of their territory

09:30is non-negotiable.

09:32Second,

09:35we are working

09:36on a massive

09:37European investment

09:38surge in Greenland.

09:41We will work

09:42with Greenland

09:43and Denmark

09:43hand in hand

09:44to see how

09:45we can further

09:46support the local

09:47economy

09:48and infrastructure.

09:51Third,

09:52we will work

09:54with the United States

09:55and all partners

09:57on wider

09:57Arctic security.

09:59this is clearly

10:01in our shared

10:02interest

10:03and we will

10:04step up

10:04our investment.

10:07In particular,

10:08I believe

10:09we should use

10:10our defense

10:10spending surge

10:11on a European

10:13icebreaker

10:14capability

10:14and other equipment

10:16vital to the

10:17Arctic security.

10:20And fourth,

10:22in the same

10:22spirit,

10:24we need to work

10:25with all

10:26our regional

10:27partners

10:27to strengthen

10:29our common

10:29security.

10:31And this is

10:32why we will

10:32look at how

10:33to strengthen

10:34our security

10:35partnerships

10:35with partners

10:37such as

10:37the UK,

10:39Canada,

10:40Norway,

10:41Iceland

10:42and others.

10:44Finally,

10:45I believe

10:45Europe needs

10:46to adjust

10:47to a new

10:48security

10:48architecture

10:49and realities

10:51that we are

10:51now facing.

10:53And this is

10:54why Europe

10:54is preparing

10:55its own

10:55security strategy

10:57which we plan

10:58to publish

10:58later this

10:59year.

11:00And as part

11:00of this,

11:02we are

11:02upgrading our

11:03Arctic strategy

11:05too.

11:06And at the

11:06heart of this

11:07will be the

11:08fundamental

11:08principle,

11:10it is for

11:11sovereign people

11:12to decide

11:13their own

11:14future.

11:15Ladies and

11:17gentlemen,

11:19when I

11:20started

11:20preparing

11:21for this

11:22year's

11:22address,

11:23security

11:24in the

11:24high north

11:25was not

11:26the main

11:27theme.

11:28But in

11:29many ways

11:30it feeds

11:31into the

11:31wider point

11:32I started

11:33with today.

11:34That Europe

11:35must speed up

11:36its push

11:37for independence

11:37from security

11:39to economy,

11:41from defense

11:42to democracy,

11:45having the

11:46dialogue with

11:47our friends

11:47and partners,

11:49also if

11:50necessary with

11:50adversaries.

11:52The point

11:52is that the

11:53world has

11:53changed

11:54permanently

11:54and we

11:56need to

11:56change with

11:57it.

11:58And therefore

11:58thank you

11:59and long

11:59live

12:00Europe.

‘US is making mistake’: EU chief confronts Trump over Greenland tariffs at Davos | WEF Summit 2026

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