And for perspective now, we turn to Rebecca Heinrichs, a senior fellow at the Hudson Institute.

That's the think tank in Washington, D.C. Thanks for coming in.

Good to be here. Thanks for having me.

I want to start with your reaction to President Trump today, calling off tariff threats he had issued to help secure ownership of Greenland while also backing away from a military invasion of that territory.

Right. So I think two big points. It was clear to me during his speech at Davos that he wanted

to disabuse anybody of the notion that the United States was credibly thinking of using military

force against Greenland. And the other thing I think is important is that President Trump

threatened these tariffs

against these particular allies in response to what he perceived as those allies potentially

threatening the United States.

It was clarified that the reason those allies were deploying troops there was in response

to President Trump, alerting them to the threat from Russia to Greenland.

So they are responding within the alliance framework.

That seemed to satisfy the president as well.

And then he had some good conversations on the sidelines at Davos and then informed everyone

that he would be calling off those tariffs, which is good news.

To what degree, though, is this just a tactical reset after blowback from the markets

and from allies?

Well, you know, I think what we've seen from President Trump again and again is he comes

up with these attempts to affect policy, and then he looks for a response.

If there's strong pushback or a pushback from the markets.

On this particular case, you saw not just Democrats, but Republicans pushed back on even the

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