Trump rules out Greenland military action as stock market roars back to life - but president demands 'immediate negotiation' as he rips Europe

The World Economic Forum in Davos, Switzerland, saw President Trump drawing plenty of global attention with a controversial push for the US to take full control of Greenland.

The vast Arctic island that is an autonomous territory of Denmark has been the topic of much debate after Trump shared that he would be using force to acquire the territory as it's needed for America's national security.

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Now, it seems like Trump has opted to take a backseat with his plans that faced plenty of criticism across the board.

In a major speech, Trump ruled out the use of military forces to acquire the territory and attempted to calm down fears that his long-standing ambition to secure the location might give rise to further conflict.

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He shared that the US would instead need to pursue negotiations and diplomatic channels to try to attain what he called a strategically important area. Trump framed the country as essential to America and NATO and argued that only the US could adequately defend the island against future threats. Trump did instead propose a framework in the form of a deal to acquire the country and its surrounding territory.

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Trump rules out Greenland military action as stock market roars back to life - but president demands 'immediate negotiation' as he rips Europe - egloos