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On today's podcast:

(1) European Union leaders will hold an emergency meeting in the coming days to discuss President Donald Trump’s latest tariff threat as they explore possible retaliatory measures.

(2) Treasury Secretary Scott Bessent amplified President Donald Trump’s message to European allies that the US won’t back down on taking over Greenland, saying the continent is too weak to ensure its security.

(3) US President Donald Trump’s trade threats toward European governments over Greenland raise the possibility the latter may trim their holdings of US assets, supporting the euro, according to a Deutsche Bank AG strategist.

(4) Gunboat capitalism. MAGA Marxism. Techno-feudalism — whatever you call it, Donald Trump is upending the global economy as it has been viewed from Davos, the Swiss summit synonymous with wealth and power.

(5) China’s economy lost more momentum last quarter even as it met the government’s target in 2025, in another year of lopsided growth that will be hard to sustain in an era of protectionism around the world.

(6) Across the western world, governments are turning toward a familiar source of funds to address their fiscal challenges: the wealthy.

Podcast Conversation: Europe Has the Weapons for Greenland Tariff War