Trump at Davos: “The Golden Dome” and the New American Expansionism (2-Videos)

DAVOS, Switzerland — Standing before a crowded hall of the world’s financial and political elite, President Donald J. Trump delivered a defiant and sprawling keynote address at the 2026 World Economic Forum, blending a vision of “American Expansionism” with sharp warnings to NATO allies. Over the course of a nearly hour-long speech, the President focused on his desire to acquire Greenland, a plan to lower domestic interest rates through massive federal intervention, and a vow to maintain his signature tax-cutting agenda.

Full Speech By President Trump at Davos - courtesy DWS

President Q&A with Media after Davos Speech - courtesy DWS

The “Golden Dome” over Greenland

The centerpiece of the President’s address was his renewed and intensified demand for the “complete and total purchase” of Greenland from the Kingdom of Denmark. Describing the autonomous territory as a “piece of ice, cold and poorly located,” Trump argued that its acquisition is a matter of urgent national and global security.

“We need the ownership to defend it,” Trump told the audience. “You can’t defend it on a lease. Legally, it’s not defensible, and psychologically, who wants to defend a license agreement?”

The President revealed plans to construct what he termed the “Golden Dome,” a state-of-the-art missile defense system intended to protect North America from Russian and Chinese incursions. He asserted that the United States is the only power capable of securing the Arctic and claimed, without providing evidence, that the U.S. had “respectfully returned” Greenland to Denmark after World War II and was now simply asking for its return.

In a move that sent ripples through the diplomatic community, Trump ruled out the use of military force to seize the island—a clarification from previous weeks of ambiguity—but coupled this with a financial ultimatum. He confirmed that starting in February, a 10% import tax would be levied against eight European nations that have opposed the acquisition. If a deal is not reached by June, those tariffs will escalate to 25%.

Interest Rates and the “Affordability” Agenda

Shifting from geopolitics to the domestic economy, the President addressed the “30-year low” in U.S. home sales, blaming elevated mortgage rates for keeping American families out of the market. He announced a dramatic federal maneuver to bypass traditional Federal Reserve caution: a $200 billion purchase of mortgage securities designed to artificially force down interest rates on home loans.

“We are going to grow our way out of debt,” Trump declared, dismissing concerns from economists about the $38 trillion national debt. “We are cutting costs and driving growth. If you don’t have growth, you have nothing.”

The President also took aim at large financial institutions, reiterating his call for a ban on corporations buying up single-family homes, a policy he framed as a populist victory for the “forgotten men and women” of America. He paired this with a defense of his tax policies, suggesting that further corporate tax stability is the only way to prevent the “economic decay” he claimed to see in the European Union.

A Fractured NATO Alliance

The speech was punctuated by sharp critiques of America’s traditional allies. Trump lambasted NATO members as “unreliable partners” who “get so much and give so little.” He specifically targeted Canadian Prime Minister Mark Carney and French President Emmanuel Macron, the latter of whom had criticized the Greenland proposal as “crazy” earlier in the week.

“The United States is treated very unfairly,” Trump said. “We are thousands of miles away, separated by a giant ocean. What do we get out of all this money, other than death and destruction?”

In a particularly striking moment, the President referenced a personal letter sent to Norway’s Prime Minister, in which he claimed he no longer felt an “obligation to think purely of peace” because he had been “snubbed” for the Nobel Peace Prize. He suggested that European leaders would eventually “come around” to his way of thinking because they remain dependent on the U.S. security umbrella.

Reaction from the Floor

The response in Davos was a mix of polite applause and stunned silence. European Commission President Ursula von der Leyen responded shortly after the speech, calling the proposed tariffs a “mistake” and a violation of existing trade agreements. “A deal is a deal,” she said. “When friends shake hands, it must mean something.”

In the United States, critics were quick to pounce. California Governor Gavin Newsom, attending the forum, described the speech as “boring and boorish,” calling it “fire and fury amounting to absolutely nothing.” However, supporters of the President, including Treasury Secretary Scott Bessent, praised the address as a “clear-eyed” defense of American interests. “America First does not mean America alone,” Bessent told reporters. “But we will no longer outsource our security to those who do not appreciate us.”

As the forum continues, the focus now shifts to a series of emergency bilateral meetings. While the President’s “Golden Dome” remains a distant and controversial prospect, the immediate threat of a renewed trade war with Europe has cast a long shadow over the Swiss Alps.

Mainstream News Sources and References

• The Guardian: Davos live: Trump rules out taking Greenland by force but calls for ‘immediate negotiations’
• CBS News: Trump says he won’t use force to acquire Greenland, questions NATO alliance at Davos
• Associated Press: Trump says 8 European countries will face 10% tariff for opposing US control of Greenland
• Los Angeles Times: Trump in Davos speech says he won’t use force to acquire Greenland
• The Washington Post: Trump jabs European leaders over Greenland as Davos becomes emergency summit
• WTTW News: Top EU Official Questions Donald Trump’s Trustworthiness Over Greenland Tariff Threat