Good morning from the Financial Times.

Today is Wednesday, January 21st, and this is your FT News Briefing.

The rising risk of an all-out trade war between the U.S. and Europe is rattling global markets.

We explore what financial leverage America's allies could use to push back.

Plus, China is selling vital weapons components to both Ukraine and Russia, but experts are

convinced Russian buyers actually have an advantage.

I'm Victoria Craig, and here's the news you need to start your day.

You know. U.S. President Donald Trump is pushing ahead on his plan to take over Greenland,

and during a press briefing yesterday, he did not rule out using military force.

How far are you willing to go to acquire Greenwood? You'll find out.

It's a desire that's put him on a collision course with America's NATO allies.

That's because he's threatened a fresh round of 10% tariffs if they do not fall in line

within the next roughly two weeks.

I think that we will work something out where NATO's going to be very happy and where we're

going to be very happy. But we need it for security purposes. The threat of a trade war has been met

with fierce opposition and strong market reaction. The S&P 500 dipped more than 2% yesterday,

while the dollar fell 9 tenths of a percent against the euro.

Meanwhile, Europe's stock 600 index shed 7 tenths of a percent, while the yield on the benchmark

10-year U.S. Treasury note hit its highest level since September. Some investors have floated one

idea for how to push back against the Trump administration, Europe could leverage its massive investment

in U.S. Treasuries to convince the president to change his mind on Greenland. Here to explain this

idea is Robin Wigglesworth. He's the editor of Alphaville, the F.T.'s financial blog. So, Robin, I know this is

...