President Trump is addressing the gathering of world leaders, CEOs and policymakers as America's allies balk at his efforts to acquire Greenland.

"How do you justify taking over a country when, in fact, Denmark and Greenland have said they are not interested?”

Trump, in an interview on Fox Business Network ​from ⁠Davos, also acknowledged the impact of his quest for Greenland on global markets and said he did not plan to pay to acquire it. "It's really being negotiated now,

Shares of industrial and transportation companies rose after President Trump said he had reached a deal with European allies over Greenland, and rescinded a tariff threat. On a volatile session, cyclical companies were waning in afternoon trading when Trump posted on Truth Social from Davos that he had reached the "framework" of a deal on Greenland.

The US president has backed down in the row over Greenland after threatening Europe with tariffs and the potential use of military force

Trump's announcement of a 'framework of a future deal' marks a shift after weeks of threats from the United States. Here's what we know.

President Donald Trump said on Thursday he had secured total and permanent U.S. access ‌to ​Greenland in a deal with NATO, whose head said allies would have to step up ‌their commitment to Arctic security to ward off threats from Russia and China.