Scott Bessent went on NBC and said Europe cannot secure itself, and that is why Donald Trump, now in his second term as president, is pushing to take over Greenland. He said the United States will not step back. He said Europe talks tough but does not have the strength to protect key regions. Scott dismissed threats from the European Union to block a tariff deal reached last year. He said that the deal is not final and can be changed. He explained that Trump is using emergency powers to force results. “First of all, the trade deal hasn’t been finalized, and an emergency action can be very different from another trade deal,” Scott said on Meet the Press. He added that Trump “leverages his emergency powers to do this.” Trump raises tariffs while Bessent defends legal authority and Fed stance Trump announced a 10% tariff on goods from eight European countries starting February 1. The tariff rises to 25% in June unless there is a deal tied to the purchase of Greenland. French President Emmanuel Macron called the tariff unacceptable and said he will ask the EU to use its strongest retaliation tool. Scott showed no concern about that response. On the same show, Scott said it is very unlikely the Supreme Court will block Trump’s use of emergency powers to impose tariffs. A ruling could come as early as this week. “I believe that it is very unlikely that the Supreme Court will overrule a president’s signature economic policy,” Scott said. “They did not overrule Obamacare. I believe that the Supreme Court does not want to create chaos.” He pointed to a June ruling where the court upheld a key Affordable Care Act provision that created a panel recommending preventive care services insurers must cover at no cost. Scott used that example to argue the court avoids destabilizing major policy. “The national emergency is avoiding a national emergency,” Scott said. He said Trump is using economic pressure to prevent a military conflict. He framed Greenland as part of a wider strategy that includes Arctic competition, a planned Golden Dome missile shield, and past European reliance on Russian energy. He said that energy dependence helped fund Russia’s war against Ukraine. When asked if Trump’s posture toward Europe was a bargaining tactic, Scott said the president is not changing course. “Europeans project weakness, US projects strength,” he said. He added that Trump believes stronger security is not possible without Greenland becoming part of the United States. Scott also spoke about the Federal Reserve. He said the Senate would be “quite happy” with any of the four candidates being considered to replace Fed chair Jerome Powell. “I believe we will probably be hearing from the banking committee soon,” Scott said. He called for more oversight of the Fed, noting it can print its own money. Last week, Scott publicly denounced the Justice Department decision under Trump to open a criminal investigation into Powell, drawing a clear line between oversight and prosecution. Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program
