00:00You may have heard of this acronym, TACO, or T-A-C-O, Trump Always Chickens Out.
00:06As you can imagine, it's an acronym that makes the president pretty angry.
00:11It's called negotiation. Don't ever say what you said.
00:14The term TACO was created by Wall Street analysts, and it has something of a life cycle,
00:21starting with a big demand, a maximalist demand.
00:24Denmark has to give up all of Greenland.
00:27We need Greenland for national security, so we're going to see what happens.
00:30And then, with all the world focused on what seems to be an emerging rift, he keeps pushing.
00:37I may put a tariff on countries if they don't go along with Greenland.
00:40And then, a backdown of remarkable proportions.
00:45Does it still include the United States having ownership of Greenland like you've said you wanted?
00:52It's a long-term deal.
00:54To his critics, this was the ultimate example of TACO.
00:59The president, of course, has rejected the entire notion, maintaining that, at moments,
01:05he has to use tariffs for bargaining purposes.
01:08So, did the president's negotiating tactics here work?
01:12We don't know exactly what this framework of an agreement that they worked out looks like.
01:17But from the elements that we understand now, it seems to give the president something he could have had at any point.
01:24In 1951, Denmark and the United States signed a treaty.
01:29The treaty gives the United States broad rights to reopen old bases or create new ones for military purposes on Greenland.
01:37And there is now discussion that the United States may have sovereignty over some of the territory of those military bases.
01:45Another element of a new treaty might prevent China from going in and exploiting rare earths that they could mine on Greenland's territory.
01:54But Greenland has made almost no progress toward identifying, much less mining, those resources.
02:01And now Denmark has made it clear that under no circumstances will it give up sovereignty over Greenland.
02:08Why would this be acceptable to President Trump?
02:10The president may have been looking for a way out.
02:13As the confrontation escalated early this week, the stock market took a big dive.
02:18Something the president's always extraordinarily sensitive about.
02:22And if he's able to amend that 1951 agreement, maybe get it named after himself,
02:28he might declare he got further than any American president has in the past.
02:34But there's a long-term cost to it.
02:36Alliances are only as good as the trust among their members.
02:40Some are beginning to open up new negotiations with China, Canada included.
02:45Canada doesn't live because of the United States.
02:49If this continues over the next three years,
02:52it's reasonable to expect that we're going to see American allies go their own way.
02:57Canada doesn't live because of the United States.
02:58Canada doesn't live because of the United States.
02:59Canada doesn't live because of the United States.
02:59Canada doesn't live because of the United States.
03:00Canada doesn't live because of the United States.
03:01Canada doesn't live because of the United States.
03:02Canada doesn't live because of the United States.
03:03Canada doesn't live because of the United States.
03:04Canada doesn't live because of the United States.
03:05Canada doesn't live because of the United States.
03:06Canada doesn't live because of the United States.
03:07Canada doesn't live because of the United States.
03:08Canada doesn't live because of the United States.
03:09Canada doesn't live because of the United States.
03:10Canada doesn't live because of the United States.
03:11Canada doesn't live because of the United States.
03:12Canada doesn't live because of the United States.
03:13Canada doesn't live because of the United States.
Comments