President Trump has officially walked back his threat of a 10% tariff on eight European nations, originally set to take effect on February 1. Following high-level talks with NATO’s Mark Rutte in Davos, the administration cited a new "framework" for Arctic security as the reason for the de-escalation.

​While the "Greenland question" remains a point of contention, the removal of the immediate tariff threat has provided a much-needed sigh of relief for global markets and supply chain leaders.