How Trump’s Greenland threats could spark a new trade war

Summary

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Podcast Summary: Apple News Today

Episode: How Trump’s Greenland threats could spark a new trade war

Host: Shumita Basu
Release Date: January 20, 2026

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Overview

In this episode, Shumita Basu explores heightened tensions between the US and Europe over President Trump’s renewed interest in acquiring Greenland and his threats of tariffs. The discussion broadens to encompass the geopolitical and economic risks of a potential transatlantic trade war, election process changes ahead of the US midterms, and a controversial wealth tax proposal in California. The episode also features updates on major international news stories and notable obituaries.

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Key Discussion Points & Insights

1. Trump’s Greenland Demands and Transatlantic Tensions

• Private Diplomacy Goes Public:
  President Trump directly linked his disappointment over not receiving the Nobel Peace Prize to his hardline approach with Europe regarding Greenland.

  • “I no longer feel an obligation to think purely of peace and that he could now think about what is good and proper for the United States.” — (Trump via text message, 01:30)

• European Reactions:
  Norway’s Prime Minister Jonas Gahr Støre, having shared Trump’s texts, emphasized the Peace Prize’s independence and highlighted Trump’s persistent focus on the award (01:50).
  European leaders voice concerns about the potential global fallout as the situation escalates into a “full-blown crisis,” jeopardizing NATO unity and spurring economic uncertainties (02:05).

• Tariff Threats:
  Trump threatened tariffs on a swath of European products — French wines, cheeses, German cars, and pharmaceuticals (02:09).

  • “The US wanted this strategically important Greenland to deter adversaries… Europeans project weakness. US Projects strength.” — Scott Besant, US Treasury Secretary (02:29)

2. Prospects and Responses to a Trade War

• Tit-for-Tat Risks:
  European officials are contemplating their own retaliatory measures, including rejecting a recent trade agreement or revisiting old tariff lists from prior disputes (03:09).

• Escalation Tools – the “Bazooka”:

  • “The anti-coercion instrument… could put tariffs on services, restrict intellectual property rights, curb the ability of American companies to bid on public contracts… a huge suite of possibilities, not something anyone in the EU takes lightly.” — Kim McCrail, Wall Street Journal reporter (03:35)

• Desire for De-Escalation:
  While rhetoric has hardened, European leaders still hope for a diplomatic solution, safeguarding Greenland’s autonomy and minimizing consumer harm (04:51).

• Upcoming Diplomatic Milestones:

  • Meetings in Davos and a Thursday summit of European leaders may set the path forward (05:04).

3. US Midterms: Trump’s Election Process Overhaul

• Polls & Political Climate:
  Trump faces potentially challenging midterms, with polls showing Democratic advantages and negative perceptions surrounding both the economy and his Greenland approach (05:36).

• Rule-Changing Tactics:

  • “Donald Trump has really inserted himself into the midterm elections… by actually changing the rules of elections.” — Patrick Marley, Washington Post (06:13)
    Efforts include pushing for new electoral maps, ending mail-in voting, and restricting voting machines, with mixed practicality and legal resistance.

• Pushback and Consequences:
  States are pushing back against federal requests for voter rolls, with most refusing and some legal battles underway (07:57).

  • “A lot of this is about building a narrative…making people think there’s much more rampant fraud than there is.” — Patrick Marley (08:49)

4. California’s Billionaire Wealth Tax Controversy

• Proposal Details:
  A proposed one-time 5% wealth tax on anyone worth more than $1 billion has alarmed Silicon Valley, triggering threats or actual relocations by tech elites (09:41).

• Industry & Political Response:

  • “Some pretty major tech CEOs are really upset and have either threatened to move or have already taken steps to move.” — Sarah Libby, SF Chronicle (10:17)
  • Notable moves: Peter Thiel (to Miami), David Sachs (to Austin), Google founders shifting financial interests (10:33–10:44).
  • “Even if folks are taking steps to leave the state now, it’s essentially too late and the tax would apply to them.” — Sarah Libby (11:02)

• Political Leadership:
  Gov. Gavin Newsom opposes the proposal, fearing innovation stifling, even as figures like Bernie Sanders and Ro Khanna express support (11:18–11:33).

• Pragmatism Among Billionaires:
  Nvidia CEO Jensen Huang appears nonchalant:

  • “Whatever taxes I guess they would like to apply, so be it. I'm perfectly fine with it.” (12:30)

• Measure’s Outlook:
  The tax could raise tens of billions but may have unpredictable impacts on state revenue. It faces procedural hurdles to reach the November ballot (12:43–12:49).

5. Brief News Updates

• Spain Train Disaster:
  At least 40 dead, faulty rail joint suspected; three days of mourning declared (13:08–13:36).

• Iran State TV Hacked:
  Signals ongoing dissent; regime struggles with aftermath of deadly protests (13:43–13:54).

• Valentino Garavani Dies at 93:
  Fashion icon remembered for passion for red and pursuit of beauty (14:10–15:09).

  • “Red so much and I think it's a color so good for everybody… you have a sort of big, big joy in your heart because they look sensational. It's a very happy color.” — Valentino Garavani (14:38)

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Notable Quotes & Memorable Moments

• “Europe has to step up, Europe has to be strong, and Europe has to make sure that the threats that have been imposed don't become reality.” — Unnamed European leader (00:29)
• “The US remains the continent’s most important trading partner, and some fear Trump could use US support for Ukraine as leverage. But the language has hardened.” — Shumita Basu (04:12)
• “It would be extremely disruptive to get rid of voting machines… It’s the kind of idea that’s got both Republicans and Democrats alarmed.” — Patrick Marley (07:31)
• “California Democrats are very mindful of wanting to avoid stifling innovation that the state relies on.” — Sarah Libby (11:47)

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Timestamps for Key Segments

• Trump–Greenland texts & Nobel Prize link: 01:12–01:42
• Tariff threats and European “bazooka” response options: 02:19–04:07
• US midterms and election rule changes: 05:27–08:49
• California billionaire tax proposal: 09:30–12:51
• News briefs (Spain, Iran, Valentino): 13:08–15:09

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Tone & Style

The episode maintains an urgent yet measured tone, balancing analytical overviews with quotations from key players, reporters, and affected stakeholders. The reporting highlights both high-level geopolitical stakes and ground-level responses, providing context for listeners unfamiliar with the intricacies of US-European relations, domestic US politics, and state-level tax debates.

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This summary provides a comprehensive guide to the episode’s significant stories and ideas, clearly broken down for ease of reference and understanding.

Transcript

[Shemitha]

Hey there, it's Shemitha. I've got a quick request for you. If Apple News Today is an essential.

[Shemita Bas Sue]

Part of your morning routine, follow the.

[Shemitha]

Show in Apple Podcasts. And if you have another 30 seconds, leave us a rating and a review too. It helps other people find our show and it helps us know what you like about it.

[Shemita Bas Sue]

Thanks. Good morning.

[Shemitha]

President Trump's tariff threats against Europe over.

[Shemita Bas Sue]

Greenland raises tensions Europe has to step.

[European Leader]

Up, Europe has to be strong, and Europe has to make sure that the threats that have been imposed don't become reality.

[Shemitha]

The Wall Street Journal explains how a.

[Shemita Bas Sue]

US Trade war with its closest allies could unfold.

[Shemitha]

The Washington Post walks us through some of the ways in which Trump is.

[Shemita Bas Sue]

Pushing to change election processes before the.

[Shemitha]

Midterms and the wealth tax proposal that's.

[Shemita Bas Sue]

Causing a revolt among Silicon Valley's elite.

[Shemitha]

It's Tuesday, January 20th.

[Shemita Bas Sue]

I'm Shmita Bas Sue. This is Apple News. Today.

[Shemitha]

The world got a firsthand look at how President Trump has been talking.

[Shemita Bas Sue]

To European leaders about Greenland behind the scenes.

[Shemitha]

Yesterday. Over the weekend, a text exchange between.

[Shemita Bas Sue]

Trump and Norway's Prime Minister Jonas Gar.

[Shemitha]

Stora revealed he was explicitly tying the.

[Shemita Bas Sue]

Nobel Peace Prize to his demands to acquire Greenland.

[Shemitha]

Referring to the committee's decision to award.

[Shemita Bas Sue]

The prize to someone else, Trump said, I no longer feel an obligation to.

[Shemitha]

Think purely of peace and that he.

[Shemita Bas Sue]

Could now think about what is good and proper for the United States.

[Shemitha]

Prime Minister Stora spoke to reporters after.

[Shemita Bas Sue]

Having shared the texts publicly.

[Shemitha]

He described Trump as being very preoccupied with the peace prize and that he'd repeatedly explained that it's decided by an.

[Shemita Bas Sue]

Independent committee, not his government.

[Shemitha]

The issue of Greenland has become a.

[Shemita Bas Sue]

Full blown crisis for Europe and is causing a major rupture in the NATO alliance.

[Shemitha]

Trump has now threatened tariffs against several European countries which could affect the price.

[Shemita Bas Sue]

Of everything from French wines and cheeses to German cars to pharmaceuticals.

[Shemitha]

Last Sunday, Treasury Secretary Scott Besant told.

[Shemita Bas Sue]

NBC the US Wanted this strategically important Greenland to deter adversaries.

[Scott Besant]

Peace through strength. Make it part of the United States and there will not be a conflict because the United States right now we are the hottest country in the world. We are the strongest country in the world. Europeans project weakness. US Projects strength.

[Shemitha]

The threat of tariffs has now raised.

[Shemita Bas Sue]

The prospect of tit for tat escalation that could hurt consumers on both sides of the Atlantic.

[Kim McCrail]

European officials are taking comments like this, comments about Greenland, comments about the tariffs. They're taking those extremely seriously.

[Shemitha]

Kim McCrail is a Brussels based reporter.

[Shemita Bas Sue]

For the Wall Street Journal.

[Shemitha]

She told us European leaders are now.

[Shemita Bas Sue]

Considering a range of options to fight back.

[Shemitha]

They could refuse to sign last year's.

[Shemita Bas Sue]

Trade agreement to eliminate European tariffs on some American exports.

[Shemitha]

Or they could dust off old retaliatory.

[Shemita Bas Sue]

Tariff lists prepared during a fight with Trump last year.

[Shemitha]

That includes duties on things like American.

[Shemita Bas Sue]

Whiskey, peanut butter and chewing gum, as well as Industrial Products.

[Shemitha]

McCrail says a last resort that has also been floated is something that has.

[Shemita Bas Sue]

Come to be known as the bazooka.

[Kim McCrail]

The slightly more formal word for it or term for it is the anti coercion instrument. It's considered a last resort because it gives the EU such wide leeway to act in a number of areas, such as export controls. It could put tariffs on services, potentially. They could restrict intellectual property rights, curb the ability of American companies to bid on public contracts in Europe. So just a huge suite of possibilities, not something anyone in the EU takes lightly.

[Shemitha]

So far, McCrail says, European leaders have.

[Shemita Bas Sue]

Sought to avoid escalation with Trump.

[Shemitha]

The US remains the continent's most important trading partner, and some fear Trump could.

[Shemita Bas Sue]

Use US Support for Ukraine as leverage. But the language has hardened.

[Shemitha]

French and German ministers have started using.

[Shemita Bas Sue]

The word blackmail to describe Trump's tariff.

[Shemitha]

Threat, and the UK prime minister described.

[Shemita Bas Sue]

It as completely wrong.

[Shemitha]

Public mood among ordinary people also appears increasingly hostile. At an NBA game held in London.

[Shemita Bas Sue]

On Sunday, the crowd cheered as the US national anthem was disrupted by a heckler.

[Shemitha]

As tensions rise, McCrail says Europe remains eager to de escalate without giving up.

[Shemita Bas Sue]

Its red line on Greenland's autonomy in what is set to be a crucial week for diplomacy and for the people of Greenland, there's a lot of hope.

[Kim McCrail]

That there could be some meetings and discussions in Davos, which is this week, and then you're going to see European leaders come together on Thursday evening, where they'll probably take stock of where they got to this week and try to start talking about what their next steps might be.

[Shemitha]

It's been exactly one year since Trump's.

[Shemita Bas Sue]

Inauguration, and some recent polls suggest his party could face some big challenges at the upcoming midterms.

[Shemitha]

A recent CNN poll found that Democrats.

[Shemita Bas Sue]

Had a five point advantage against Republicans on a generic ballot, with that number expanding among registered voters who said they were deeply motivated to vote.

[Shemitha]

A Wall Street Journal poll, meanwhile, found.

[Shemita Bas Sue]

That those surveyed increasingly bore negative views of the current state of the economy.

[Shemitha]

And many surveys have found voter negativity.

[Shemita Bas Sue]

Toward the idea of the US Annexing Greenland. The president's party often loses seats in.

[Shemitha]

The midterms, but what's unusual this year.

[Shemita Bas Sue]

Is the pressure and tactics that President Trump has employed ahead of these elections to help his party retain power.

[Patrick Marley]

Donald Trump has really inserted himself into the midterm elections, and not just in the normal way a president might, where they're trying to influence elections, but by actually changing the rules of elections.

[Shemitha]

Patrick Marley is a national reporter with the Washington Post. He and his colleague examined the many.

[Shemita Bas Sue]

Different ways that this is happening, from Trump's campaign to get states to redraw their maps to favor Republicans, to demands.

[Shemitha]

To end mail in voting and attempts.

[Shemita Bas Sue]

To end the use of voting machines.

[Patrick Marley]

So it's really this broad approach that is unlike anything we've seen in modern history.

[Shemitha]

In a statement to the Post, the White House characterized all of these efforts.

[Shemita Bas Sue]

As a way to ensure all votes.

[Shemitha]

Are counted and criticized the way that.

[Shemita Bas Sue]

Democratic run states maintain their voter rolls.

[Shemitha]

Now, in terms of the feasibility of.

[Shemita Bas Sue]

Any of these campaigns, some are more likely than others to result in real changes before the midterms.

[Shemitha]

Redistricting, for example, has been taken up.

[Shemita Bas Sue]

By a number of Republican led states.

[Shemitha]

And could yield additional seats for the.

[Shemita Bas Sue]

Party as long as changes in Democratic led states don't fully cancel that out. But on the issue of voting machines or mail in voting, that is largely the purview of states that administer elections.

[Shemitha]

And the use of both is popular.

[Shemita Bas Sue]

And standard by Democrats and Republicans.

[Patrick Marley]

It would be extremely disruptive to get rid of voting machines. It would slow down the count greatly. It would require hundreds of thousands of more poll workers. If it were implemented nationally, we'd be waiting weeks for results. Results couldn't be trusted. They'd be less accurate. It's the kind of idea that's got both Republicans and Democrats alarmed.

[Shemitha]

States have also pushed back against an.

[Shemita Bas Sue]

Unprecedented request from the administration to provide a list of registered voters.

[Shemitha]

The DoJ has said it wants the.

[Shemita Bas Sue]

Lists in order to ensure states are following laws to maintain their voter rolls. But the concern is that inaccurate information could disenfranchise voters.

[Patrick Marley]

The states have largely rejected this. There are 10 or so states who have said they would agree with the administration and have either provided the lists or said that they would provide the list. The other states are fighting it in court. The Department of Justice had sued more than 20 states. Now, we haven't gotten many rulings. It looks like there's one very initial ruling out of Oregon that is not in the administration's favor. That's a sign of the difficulties for the Trump administration to get this stuff.

[Shemitha]

Even as many of these efforts may.

[Shemita Bas Sue]

Turn out to be unsuccessful. Marley said that raising the issues could be used as pretext later for the president to falsely claim fraud in the election process.

[Patrick Marley]

A lot of this is about building a narrative and making people trust elections less and making people think that there's much more rampant fraud than there is. Fraud does exist. There are cases where people are charged that are not eligible to vote, that vote. A non citizen votes, a felon might vote, somebody might vote twice from two different addresses. It's very rare, it's almost always caught and it's almost never decisive in an election. Elections are undermined considerably when a big portion of the populace doesn't have faith in.

[Shemitha]

A proposed billionaire wealth tax in California has generated national headlines, statewide controversy and.

[Shemita Bas Sue]

Threats of exodus from its wealthy Silicon Valley community.

[Shemitha]

The idea would be to tax residents.

[Shemita Bas Sue]

Worth more than a billion dollars, a one time 5% tax on their total combined wealth, going beyond a more conventional income tax.

[Shemitha]

A health care union is behind the proposal and wants to raise the money.

[Shemita Bas Sue]

To provide more health care support. Now, this is still a long way from happening.

[Shemitha]

It's being targeted as a measure to.

[Shemita Bas Sue]

Be put to voters on the November ballot, but it hasn't yet received the signatures it needs. Despite that, it has already generated huge discussion. As Sarah Libby, the San Francisco Chronicles Politics editor, explained, I think Silicon Valley.

[Sarah Libby]

Is almost uniformly opposed to the proposal. Some Pretty major tech CEOs are really upset and have either threatened to move or have already taken steps to move.

[Shemitha]

In late December, PayPal Co founder Peter.

[Shemita Bas Sue]

Thiel's private investment firm announced its relocation to Miami.

[Shemitha]

Trump advisor and tech investor David Sachs recently said he had moved to Austin, and Google co founders Larry Page and.

[Shemita Bas Sue]

Sergey Brin appear to have moved some of their financial interests from the state shortly before the new year.

[Shemitha]

Now, given the tax is many steps.

[Shemita Bas Sue]

From actually passing this all might sound.

[Shemitha]

Premature, but the ballot measure seeks to apply it to anyone living in California.

[Shemita Bas Sue]

From January 1st of this year.

[Sarah Libby]

So even if folks are taking steps to leave the state now, it's essentially too late and the tax would apply to them. And so I think that's why you're sort of seeing this explode out into the open far sooner than ballot measures typically generate a lot of debate.

[Shemitha]

Governor Gavin Newsom, a former San Francisco.

[Shemita Bas Sue]

Mayor with long standing ties to tech, has come out firmly against the tax proposal.

[Shemitha]

Telling the New York Times he's been.

[Shemita Bas Sue]

Working behind the scenes against has attracted.

[Shemitha]

Some support from the left.

[Shemita Bas Sue]

Vermont Senator Bernie Sanders and California Congressman Ro Khanna have backed it, as have some Democratic aligned unions.

[Shemitha]

But Libby told us most local lawmakers.

[Shemita Bas Sue]

Have avoided offering their support so far.

[Sarah Libby]

A lot of these billionaires are sort of characterizing this as a plan that's being driven by California Democrats, and that's not necessarily true. California is home to many major tech companies and its budget is also very reliant on high earners who it taxes at a much higher rate than middle income earners. And so I think California Democrats are very mindful of wanting to avoid stifling innovation that the state relies on.

[Shemitha]

One CEO who appears relaxed is Nvidia's.

[Shemita Bas Sue]

Jensen Huang, who Forbes estimates is worth over $160 billion.

[Shemitha]

Talking to Bloomberg, he said he hadn't.

[Shemita Bas Sue]

Given it any thought.

[Jensen Huang]

We work in Silicon Valley because that's where the talent pool is. So we chose to live in Silicon Valley. And whatever taxes I guess they would like to apply, so be it. I'm perfectly fine with it.

[Shemitha]

The nonpartisan Legislative Analyst's Office advised the.

[Shemita Bas Sue]

Measure would probably raise tens of billions.

[Shemitha]

Of dollars, but could also result in.

[Shemita Bas Sue]

Some lost tax revenue that would be hard to predict. It needs nearly 900,000 signatures by June to get onto the ballot come Novemb.

[Shemitha]

And finally, a few other stories we're following. At least 40 people are dead in.

[Shemita Bas Sue]

What'S become Spain's worst rail disaster in over a decade. A high speed train bound for Madrid derailed and crossed over to the opposite tracks, colliding headlong with an oncoming train.

[Shemitha]

Reuters quotes an unnamed source briefed on.

[Shemita Bas Sue]

The initial investigation as suggesting experts had found a faulty joint on the railway.

[Shemitha]

The Spanish Prime Minister, Pedro Sanchez, has.

[Shemita Bas Sue]

Vowed to get to the bottom of the cause and announced a three day mourning period for the country.

[Shemitha]

In Iran, state TV appeared to be.

[Shemita Bas Sue]

Hacked on Sunday evening in a sign of continued dissent against the regime, ordinarily.

[Shemitha]

A medium for propaganda, state channels began.

[Shemita Bas Sue]

Showing speeches by President Trump and the exiled son of Iran's last shah. Streets have been quiet in recent days following mass protests and a brutal crackdown that some estimate have killed more than 5,000 people.

[Shemitha]

And Valentino Garavani, one of the last.

[Shemita Bas Sue]

Giants of 20th century fashion, died yesterday at the age of 93. He was renowned worldwide for his signature style and his trademark use of vibrant red.

[Shemitha]

He designed Jackie Kennedy Onassis wedding dress.

[Shemita Bas Sue]

As well as countless gowns for iconic women like Elizabeth Taylor, Audrey Hepburn, Julia Roberts and Anne Hathaway. Speaking to Charlie rose back in 2009, he explained why he loved the color.

[Valentino Garavani]

Red so much and I think it's a color so good for everybody. And believe me or not, when you are in a party, cocktail or big evening, when you see two women dressed in red coming in, you have a sort of big, big joy in your heart because they look sensational. It's a very happy color.

[Shemitha]

He told the New Yorker he hoped.

[Shemita Bas Sue]

He would be remembered as a man who pursued beauty wherever he could.

[Shemitha]

You can find all these stories and.

[Shemita Bas Sue]

More in the Apple News app.

[Shemitha]

And if you're already listening in the.

[Shemita Bas Sue]

News app, right now, we've got a narrated article coming up next.

[Shemitha]

New York magazine reports on what was.

[Shemita Bas Sue]

Supposed to be the future of eating veganism.

[Shemitha]

But just as it seemed plant based.

[Shemita Bas Sue]

Diets hit the mainstream and animal free products exploded in popularity, the industry has suddenly seen a big decline as meat makes a comeback.

[Shemitha]

If you're listening in the podcast app.

[Shemita Bas Sue]

Follow Apple News plus narrated to find that story. I'll be back with the news tomorrow.