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Treasury Secretary Scott Bessent urged America’s trading partners to “take a deep breath.” One year into his second term, Trump is attending the in Davos — an annual gathering of the global elite — where amid the he may see many of the billionaires he has surrounded himself with. .

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Money from the big bill flows with few restraints

With Republican control of Congress, even if Congress wanted to curtail Trump’s immigration operations — by threatening to shut down the government, for example — it would be difficult to stop the spend.

What Trump called the “big, beautiful bill” is essentially on autopilot through 2029, the year he’s scheduled to finish his term and leave office.

The legislation essentially doubled annual Homeland Security funding, adding $170 billion to be used over four years. Of that, ICE, which typically receives about $10 billion a year, was provided $30 billion for operations and $45 billion for detention facilities.

Democrats in Congress seek leverage on ICE spending

Congress will need to consider routine funding for Homeland Security by Jan. 30 or risk a partial shutdown in some operations.

The GOP’s would provide about $92 billion for the agency, including $10 billion for ICE. A growing group of Democratic senators and the Congressional Progressive Caucus say they won’t support additional funds without significant changes.

Lawmakers are on ICE operations, including limiting arrests around hospitals, courthouses, churches and other sensitive locations and ensuring that officers display proper identification and refrain from wearing face masks.

“I think ICE needs to be totally torn down,” said Sen. Ruben Gallego, D-Ariz., on CNN over the weekend. “People want immigration enforcement that goes after criminals,” he said, and not what he called this “goon squad.”

has warned Democrats that “they need to get out of the way and allow federal law enforcement to do its duty.”

Bessent says �do not retaliate’ against US for its Greenland plans

The US treasury secretary was asked at Davos about the emergency summit E.U. leaders are planning in response to U.S. plans for Greenland.

“I would say exactly what I said after Liberation Day last April, when the President imposed tariff levels on the whole world. I tell everyone sit back, take a deep breath. Do not retaliate. Do not retaliate. The President will be here tomorrow, and he will get his message across,” Bessent said.

Macron says EU �should not hesitate’ to use anti-coercion mechanism in face of Greenland tariff threats

Macron says Trump’s threats could push the EU to use the mechanism to block American companies from accessing European markets “for the very first time.”

“Can you imagine that?” Macron said Tuesday at Davos. “This is crazy.”

It’s not time for “new imperialism or new colonialism,” Macron said. “Let’s not accept a global order which will be decided by those who claim to have, I would say, the bigger voice or the bigger stick.”

Instead of trade disputes, allied countries should be focused on bringing peace to Ukraine and focus on the global challenges of “growth, peace, climate,” he said.

Greenland’s prime minister is insisting on respect for territorial integrity

Jens-Frederik Nielsen said in response to a question from The Associated Press that his government has had good meetings with NATO and its allies and that all western countries should be united by “respect for national, territorial integrity (and) respect for international law.”

Nielsen pointed out that Greenland has been “a close ally of the United States to NATO many, many, many years” and is “willing to cooperate much more.”

Speaking earlier at parliament in Copenhagen, Danish Prime Minister Mette Fredriksen also stressed that Denmark had been a “loyal and close ally” for many years, but “nevertheless, we are now being threatened by our closest ally.”

Fredriksen told party leaders during question time in parliament on Tuesday that “the worst may still be ahead of us.”

Trump thanks you for your attention to these matters

A stunning in Venezuela. Telling the which coach to hire. Threats against , and . Posing ith . Dangling the potential of in Minneapolis. Flipping off a critic. Announcing an . Threatening political enemies. For President , this blizzard was just the first half of January.

If a president’s most valuable currency is time, Trump operates as if he has an almost limitless supply, with little regard for consequences, leaning more toward virality than virility, with social media as his primary accelerant.

“The president exists loudly,” said Sen. John Kennedy, R-La. “The president will play with fire. I haven’t seen him yet play with live hand grenades, but I’ve seen him come damn close. That’s just the way he is, and it’s not going to change.”

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Trump’s ICE force is sweeping America, and it’s only just begun

A ballooning Immigration and Customs Enforcement budget. Hiring . Swelling ranks of ICE officers, to 22,000, in an expanding bigger than most police departments in America.

promised the in U.S. history, and the passed by Republicans in Congress is now fueling unprecedented in cities like and beyond.

As the president marks , the immigration enforcement and removal operation that has been a cornerstone of his domestic and foreign policy agenda is rapidly transforming into something else — a national law enforcement presence with in new spending from U.S. taxpayers.

The Department of Homeland Security announced in December that it had arrested and deported about 600,000 people and that 1.9 million others had “voluntarily self-deported” since January 2025.

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US treasury secretary urges leaders to be open to Trump’s ideas

Treasury Secretary Scott Bessent says world leaders should “have an open mind” about Trump’s plan to acquire Greenland.

“Greenland is becoming more and more attractive for foreign conquest” and the president “believes that it must be part of the United States to prevent a conflict,” Bessent said during a conversation with Fox News Channel’s Maria Bartiromo, Tuesday on the sidelines of Davos.

Global markets slump after Trump threatens 8 NATO members with punishing tariffs over Greenland

U.S. futures tumbled alongside global markets early Tuesday after Trump threatened to hit eight NATO members with new tariffs as tensions escalate over his attempts to assert .

Futures for the S&P 500 sank 1.8% while futures for the Dow Jones Industrial Average dropped 1.6%, almost 600 points. The tech heavy Nasdaq slumped 1.8%.

Markets in Paris, Frankfurt and London all fell more than 1% and were on track for a second straight day of losses.

Silver and gold both rose to records again as investors sought safety amid heightened geopolitical tensions. Gold was up 3% at $4,733 an ounce while Silver jumped more than 7% to $95.30.

Wedbush Securities analyst Dan Ives predicts that tensions will ultimately calm down and that “just like over the last year the bark will be worse than the bite.”

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Trump slams UK deal to hand over Chagos Islands after he previously backed it

A startled British government on Tuesday defended its decision to hand sovereignty of the to Mauritius, after Trump attacked the plan, which his administration had previously supported.

Trump said that relinquishing the remote Indian Ocean archipelago, home to a strategically important American naval and bomber base, was an act of stupidity that shows why he needs to .

The blast from Trump was a rebuff to efforts by Prime Minister to calm tensions over Greenland and patch up a frayed trans-Atlantic relationship. Starmer on Monday called Trump’s statements about taking over Greenland “completely wrong,” but called for the rift to be “resolved through calm discussion.”

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Read what France’s Macron and the head of NATO are saying to Trump behind the scenes

While Europe is pushing back publicly against Trump over , the language appears softer behind the scenes.

Trump published a text message on Tuesday that he received from French President , confirmed as genuine by Macron’s office.

Starting with “My friend,” Macron’s tone was more deferential than the criticism that France and some of its European partner nations are against Trump’s push to wrest Greenland from NATO ally Denmark.

Before broaching the Greenland dispute, Macron opted in his message to first talk about other issues where he and Trump seem to be roughly on the same page.

“We are totally in line on Syria. We can do great things on Iran,” the French leader wrote in English.

Then, he added: “I do not understand what you are doing on Greenland,” immediately followed by: “Let us try to build great things.”

That was the only mention that Macron made of the semi-autonomous Danish territory that Trump covets in the two sections of message that Trump published. It wasn’t immediately clear from Trump’s post when he received the message.

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Surrounded by billionaires in Davos, Trump plans to lay out how he’ll make housing more affordable

Trump plans to use a key address Wednesday to try to convince Americans he can make , but he’s picked a strange backdrop for the speech: a Swiss mountain town where ski chalets for vacations cost a cool $4.4 million.

On the anniversary of his inauguration, Trump is flying to the in Davos — an annual gathering of the global elite — where he may see many of the billionaires he has surrounded himself with during his first year back in the White House.

Trump had campaigned on lowering the cost of living. But in office, he has devoted more time to cavorting with the wealthy than talking directly to his working-class base.

Trump’s attention in his first year back has been less on pocketbook issues and more fixed on foreign policy with conflicts. He is now to the chagrin of European allies — a headline likely to dominate his time in Davos, overshadowing his housing ideas.

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Top EU official questions Trump’s trustworthiness over Greenland tariff threat

The European Union’s top official on Tuesday described Trump’s as “a mistake especially between long-standing allies” and called into question Trump’s trustworthiness, saying that he had not to impose more tariffs on members of the bloc.

European Commission President Ursula von der Leyen was responding to Trump’s announcement that starting February, a 10% import tax will be imposed on goods from eight European nations that have in the wake of his escalating calls for the United States to take over the semi-autonomous Danish territory of

“The European Union and the United States have agreed to a trade deal last July,” Von der Leyen said at the World Economic Forum in Davos, Switzerland. “And in politics as in business – a deal is a deal. And when friends shake hands, it must mean something.”

She vowed that the EU’s response “will be unflinching, united and proportional.”

Trump has insisted the U.S. needs the territory for security reasons against possible threats from China and Russia.

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