Good morning from the Financial Times.

Today is Monday, January 19th, and this is your FT News briefing.

America's latest tariff threat is causing the deepest rift in NATO since its founding,

and insurers are split about whether U.S. President Donald Trump's action in Venezuela

will boost or reduce investor risk.

Plus, with so much geopolitical uncertainty, all lies are trained on the snow-capped mountains of Davos this week.

There's a high sense of anticipation.

You've got a lot of very important people now coming to Switzerland. So

I think there's a very febrile mood at the moment. I'm Victoria Craig, and here's the news you need

to start your day.

Outrage has ricocheted across European capitals after President Donald Trump threatened new tariffs on eight of his NATO allies if they do not get on board with his ambition to own Greenland.

Trump said starting February 1st, he will impose an additional 10% duty on goods from countries, including the UK, France, and Denmark.

That will rise to 25% in June if no resolution is found.

On Sunday, Treasury Secretary Scott Bessent explained on NBC News, the president's justification.

It is a strategic decision by the president. This is a geopolitical decision, and he is able to use the

economic might of the U.S. to avoid a hot war. Trump has repeatedly said the only way to defend

Greenland, a semi-autonomous territory of Denmark, is to own it.

You're going to have Russia or China as your next-door neighbor. That's not going to happen.

But U.K. Prime Minister Kier-Starmer called Trump's use of tariffs, quote, completely wrong,

and he pledged to take up the matter with Washington. French President Emmanuel Macron has called for the EU, meanwhile, to use its most potent trade weapon

and restrict American companies' access to the single market in response, while the EU is readying

93 billion euros worth of tariffs as retaliation to Trump's threats.

...