Commentary: Trump walking back Greenland threats offers little relief
- noemieviterale
- Jan 23
- 1 min read
The World Economic Forum meeting at Davos shows that the room for manoeuvre is narrowing for middle powers, says US politics observer Steven Okun.
SINGAPORE: The end of this year’s World Economic Forum in Davos should not bring relief to anyone.
Stocks rallied when United States President Donald Trump announced he would not use force to seize Greenland. However, the global economic order governments spent decades building, which markets benefited from, no longer exists.
Since the beginning of his second term, Mr Trump has made clear that win-win trade and shared growth are not his objectives. US growth comes first, second and third. Global gains follow only if they align with US interests.
Mr Trump’s remarks about Greenland captured this shift perfectly. Ownership, not access, matters to him. Allies do not get automatic exemptions. Those who were once called US “partners” do not get the benefit of the doubt.
That his threats sit comfortably as mainstream US economics should alarm any global executive. Access to the US domestic market has become leverage to put America First. In advancing American power, considerations about trade, territory, security and loyalty are blurred together.
For businesses, supply chains they built for efficiency must now stand up to political stress tests. Companies must spread manufacturing and sourcing across more countries - not to improve margins, but to guard against tariffs and political shocks. That makes logistics messier, compliance heavier and planning harder.
