DAVOS, Switzerland, Jan 21 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday he was not concerned about any selloff in U.S. Treasuries related to the Trump administration’s threats to impose tariffs on European allies who oppose U.S. efforts to acquire Greenland.

Bessent downplayed criticism from European leaders of Washington’s plans for Greenland, and whether the issue could trigger a selloff in U.S. Treasuries by institutional investors in Europe, such as pension funds in Denmark and elsewhere.

“Denmark’s investment in US Treasuries, like Denmark itself, is irrelevant,” Bessent told reporters on the sidelines of the World Economic Forum’s annual meeting in Davos, describing Denmark’s investment in US Treasuries as small.

“I’m not worried at all. Once again, as Treasury Secretary, I look at our Treasury auctions. We’ve had record foreign investment.”

French President Emmanuel Macron said Tuesday that Europe would not give in to bullies or be intimidated by Greenland, and has said the European Union should consider using its Anti-Coercion Instrument, known informally as the “trade bazooka.”

Bessent accused Macron of making “inflammatory statements” and was dismissive when asked about France’s announcement Wednesday that it was seeking to hold a NATO exercise in Greenland.

“If this is all President Macron has to do… when the French budget is in ruins, I would suggest that he concentrate on other things for the French people,” he said.

U.S. Treasury Secretary Scott Bessent speaks at a news conference at the U.S. House, home of the U.S. delegation, during the annual meeting of the World Economic Forum, Jan. 21, 2026.
U.S. Treasury Secretary Scott Bessent speaks at a news conference at the U.S. House, home of the U.S. delegation, during the annual meeting of the World Economic Forum, Jan. 21, 2026.

Theresa Münch/Picture Alliance via Getty Images

Bessent also said Britain was letting the United States down with its plans to cede sovereignty of the Chagos Archipelago, and urged critics of US President Donald Trump’s administration’s approach to Greenland to “take a deep breath.”

“Why don’t you sit down, wait for President Trump to arrive, and listen to his argument?” he said, and added: “Because I think they are going to be convinced.”

Bessent also said that pursuing a “grow, baby, grow” policy would be at the center of the United States’ agenda as the current president of the Group of 20 industrialized countries.

(Reporting by Ariane Luthi and Dave Graham; Editing by Alexander Smith)