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U.S. Treasury Secretary Scott Bessent said he was confident the United States and European countries would find a solution over the U.S. administration’s aim to take over Greenland, brushing off what he described as “hysteria” about the risk of a trade war.
His comments came after President Donald Trump announced tariffs on imports from European allies that oppose the U.S. position on Greenland, an autonomous territory within the Kingdom of Denmark.
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00:00I just want to say this is a false narrative that there is no talk in European governments.
00:22This was this was a report written by Deutsche Bank that this could happen.
00:27The media has latched on to this. I think it is a completely false narrative.
00:32The it defies the in any logic. And I would I could not disagree more strongly on that.
00:40If you look, the U.S. Treasury market was the best performing market in the in the world or the best G7 performing bond market.
00:50And we had the best performance since 2020. It is the most liquid market.
00:55It is the basis for all financial transactions. And I am sure that the European governments will continue holding it.
01:02And as I said, I think everyone needs to take a deep breath.
01:05Do not listen to the media who are hysterical, just like they were, just like you all were.
01:11But let's just go back to what happened after April 2nd hysteria and what happened.
01:18We had the fastest stock market recovery in history. So I think these false narratives, you know, get get out there.
01:25It's spun up out of control. When I was an investor, part of my success was sticking back, looking at the medium and long term and ignoring the media.
01:34And just to follow into that, so you do not believe that the EU or the U.K. have any retaliatory financial instruments or measures in their bag that the United States should be worried about?
01:45No.
01:47Countries and companies don't know from one day to the next whether they will face new tariffs.
01:53What's going to happen with the U.S. agreements on tariffs?
01:55It's been 48 hours. As I said, sit back, sit back, relax.
02:04I am confident that the leaders will not escalate and that this will work out in a manner that ends up in a very good place for all.
02:12For national security, for the U.S. and for Europe. Thanks.
02:17Mind you all, there is another press briefing. Everyone who is here today, but tomorrow, I would project that during tomorrow's press briefing, there will be initial discussions.
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