President Donald Trump on Wednesday called for "immediate negotiations" with Denmark to "discuss the acquisition of Greenland by the United States."
But Trump, in an address to world leaders and others at the World Economic Forum, said for the first time that he would not use military force in pursuit of the territory.
"I won't do that," Trump said during the lengthy speech in Davos, Switzerland.
"Now everyone's saying, 'Oh, good,'" he quipped. "People thought I would use force. I don't have to use force. I don't want to use force. I won't use force."
Stocks, which had plummeted a day earlier amid Trump's increasing aggression toward Greenland, immediately rebounded after the president ruled out using the U.S. military against the island.
But Trump maintained that Greenland âan autonomous territory ruled by Denmark, one of America's NATO allies â is a must-have asset for U.S. national security.
And his remarks, which came days after he threatened new tariffs against eight NATO members related to Greenland, continued to ratchet up pressure on Europe.
"So they have a choice," Trump said. "You can say yes, and we will be very appreciative. Or you can say no, and we will remember."
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