Gary Cohn, former top economic advisor to President Donald Trump, stated that "Greenland will stay Greenland," dismissing any potential change in ownership of the territory. Speaking at the World Economic Forum in Davos, Cohn, now vice chairman at IBM, linked the need for access to critical minerals to Trump's previous interest in acquiring Greenland.

Cohn, who served as director of the White House National Economic Council from 2017 to 2018, suggested that invading a country already part of NATO would be "a little bit over the edge." His comments come after Trump's administration reportedly explored the possibility of purchasing Greenland in 2019, an idea that was swiftly rejected by the Danish government, which governs the autonomous territory.

The discussion surrounding Greenland's ownership highlights the growing strategic importance of the Arctic region, particularly its vast reserves of rare earth minerals. These minerals are crucial for various industries, including electronics, renewable energy, and defense. Access to these resources has become a key geopolitical consideration, with the United States, China, and Russia all vying for influence in the Arctic.

Separately, U.S. Treasury Secretary Scott Bessent addressed concerns over potential tariff threats against Europe related to Greenland. Bessent urged observers to "relax" and "let things play out," drawing parallels to the market reaction to Trump's announcement on U.S. tariffs last year. He claimed the current situation was different, without elaborating on the specific distinctions.

Cohn's background on Wall Street, where he rose to become president and chief operating officer at Goldman Sachs, lends weight to his perspective on the economic implications of Greenland's status. His tenure in the Trump administration provided him with firsthand knowledge of the former president's thinking on the matter. The current market impact of these statements is minimal, though continued interest in Greenland's mineral resources is expected to drive future investment and geopolitical maneuvering in the region.