DAVOS, Switzerland — The Greenland framework President Trump and NATO Secretary General Mark Rutte discussed on Wednesday includes the principle of respecting Denmark's sovereignty over the island, according to two sources briefed on the proposal.
Why it matters: Trump stated numerous times, including earlier on Wednesday, that he'd only take a deal that put Greenland under U.S. control. The deal proposed by Rutte — which Trump said "gives us everything we needed" — doesn't do that.
The IRS is making major changes to modernize the agency, the Washington Post has reported.
Why it matters: These changes, which involve canceling Biden-era plans and outsourcing work to private contractors, poses risks to taxpayers on the eve of tax season, several experts told Axios.
Why it matters: Trump backed a plan to limit card rates to 10%, aligning himself with key Democrats who have long pursued a cap under the premise that steep rates hurt consumers.
The House Oversight Committee voted Wednesday to hold Bill and Hillary Clinton in contempt of Congress for defying subpoenas tied to its probe into convicted sex offender Jeffrey Epstein.
Why it matters: Contempt — a rarely used congressional enforcement tool —carries a maximum penalty of up to one year in prison and a fine of up to $100,000. But the vote is only the first step: the full House must still approve the measure before it can be referred to the Justice Department for prosecution.
DAVOS, Switzerland — President Trump announced on Wednesday that he will not follow through on his threat to impose tariffs on eight European allies on Feb. 1 over their opposition to his claim of Greenland.
Why it matters: Trump already dropped his threat to invade Greenland earlier Wednesday, and he's now reversed his tariff threat — which had triggered a crisis in the transatlantic alliance and rattled global markets.
California Gov. Gavin Newsom emerged as President Trump's most visible American counterforce this week at the World Economic Forum in Davos.
The big picture: Newsom, a likely contender for the 2028 presidential race, is positioning himself as a Democratic foil, contrasting his vision of the U.S. with Trump's approach, which has led to strained relationships with European allies in recent weeks.
Vice President Vance is heading to Minnesota on Thursday, and he's not planning any peace offerings to Twin Cities officials and protesters opposed to the Trump administration's aggressive immigration enforcement tactics.
Why it matters: Vance's planned events and speech underscore how the administration isn't backing down from its controversial raids and stops that resulted in the fatal shooting of protester Renee Good and damaged President Trump's poll numbers.
In his speech at Davos on Wednesday, President Trump noted that mortgage rates dropped below 6% last week — he didn't mention that they've since climbed back up.
Why it matters: The White House has floated a raft of policies meant to make homes more affordable — mostly by pushing for lower rates — but that only addresses one piece of the problem and may even be counterproductive.
Supreme Court justices expressed skepticism of President Trump's attempted firing of Federal Reserve governor Lisa Cook in sometimes-testy oral arguments on Wednesday.
Why it matters: The case is expected to set a precedent for how free a hand presidents have to install new leadership at America's central bank, in light of Congress' efforts to insulate the Fed from politics.
One of the most significant trade deals of the Trump era so far could fall apart: European lawmakers said on Wednesday that they would stop implementation of the U.S.-European Union trade deal in the wake of fresh tariff threats.
Why it matters: This is the world's new realization. A Trump trade deal means new tariffs are still an economic risk, a swift change from the agreements that underpinned the global economy in decades past.
It comes hours after President Trump's top trade negotiator told Axios that the trade deal was still intact.
AI has an overlooked — but vital — role to play in helping to protect at-risk species, Nature Conservancy CEO Jennifer Morris said at an Axios panel in Davos Wednesday.
Why it matters: Morris and other environmentalists say AI already is proving it can help protect fish and other species.
The House Oversight Committee will depose Jeffrey Epstein's associate Ghislaine Maxwell on Feb. 9 in closed session, Chairman James Comer (R-Ky.) announced Wednesday.
Why it matters: The committee has been working for months to schedule a virtual deposition with Maxwell, who is serving a 20-year prison sentence at a Texas facility.
House Minority Leader Hakeem Jeffries (D-N.Y.) told his caucus during a closed-door meeting on Wednesday that he opposes a bill to fund the Department of Homeland Security, five sources familiar with his comments told Axios.
Why it matters: Jeffries' opposition comes as Democrats both inside and outside of Congress are lining up against the bill, which they say isn't nearly sufficient to constrain ICE following the shooting of Renee Good.
President Trump said in Davos on Wednesday that Canada should be "grateful" to the U.S. for the "freebies" it receives because of the two nations' relationship.
Why it matters: Trump's dig at Canada came a day after Prime Minister Mark Carney delivered his own warning at the World Economic Forum over the "rupture" of the world order.
It's been nearly a year since BlackRock agreed to buy ports on either side of the Panama Canal from Hong Kong's CK Hutchison — a deal that President Trump touted during an address to Congress last March.
But what if the ports aren't Hutchison's to sell?
State of play: Panama's Supreme Court is expected to rule soon on whether Hutchison breached its concession contracts, including one renewed in 2021, thus allegedly harming taxpayers and violating the country's constitution.
President Trumpcalled onCongress to cap credit card interest rates at 10% for one year, he said Wednesday during a speech in Davosat the World Economic Forum.
Why it matters: House Speaker Mike Johnson was hesitant about Trump's initial pitch, while economists and bankers warned about downsides overshadowing any positives.
DAVOS, Switzerland — President Trump praised nuclear power in a speech in front of world leaders on Wednesday — while saying he previously hadn't supported the energy resource.
Why it matters: The comments reveal a less-known position from Trump on a technology whose growth is being fueled by the AI boom.
DAVOS, Switzerland — President Trump reiterated his determination to take control of Greenland from Denmark during a 72-minute tirade at the World Economic Forum — but seemingly ruled out using force to do so.
Why it matters: European allies have been bracing for a clash with Trump over Greenland this week in the Swiss Alps.
DAVOS, Switzerland — President Trump's tussle with Europe over Greenland won't impede looming U.S. deals with those countries, Trump's Greek ambassador Kimberly Guilfoyle predicted Wednesday.
Why it matters: Guilfoyle has been focused on increasing commitments from Greece and other European countries to buy American liquefied natural gas.
New data captures the scope of today's U.S. solar boom — and AI could help developers swimming upstream in the Trump era's next stages.
Why it matters: "Data center demand is helping offset some political headwinds for utility‑scale solar," Wood Mackenzie analyst Kaitlin Fung tells me via email.
DAVOS, Switzerland — California Gov. Gavin Newsom says he's at the World Economic Forum to share a different vision of the U.S. than President Trump, whose speech on Wednesday is the most anticipated showpiece of the week.
The big picture: The most-discussed speech so far came from Canadian Prime Minister Mark Carney, who declared that the U.S.-led global order "is not coming back." European leaders shared similar sentiments, after Trump threatened fresh tariffs and a potential Greenland invasion before heading to Switzerland.
DAVOS, Switzerland — In a 24-hour span in the Swiss Alps, we're witnessing what future historians might mark as a hinge moment: The people building civilization-altering AI, a prime minister declaring America's global order dead, and an expansionist, defiant American president all sharing the same tense global stage.
Why it matters: It's hard to overstate the seismic shifts shaking this week's World Economic Forum in Davos.
The chief of U.S. naval operations,Adm. Daryl Caudle, is advocating for powerful lasers aboard the newfangled Trump-class battleship, which is also expected to wield nuclear and hypersonic weapons.
Why it matters: Caudle has for years lamented a dearth of directed energy across the Navy. A new armed-to-the-teeth warship — pitched as the apex predator of the futuristic Golden Fleet — could offer a reversal of fortunes.
Gene Sperling — a top economic adviser to Presidents Clinton, Obama and Biden — is starting an Economic Dignity Lab at the McCourt School of Public Policy at Georgetown University.
Why it matters: Sperling, who'll be founder and executive director, tells me his lab will develop concrete, viable policy proposals that "provide an economic dignity response to AI job and economic disruption."
Republicans and Democrats are using the latest government funding package to push back against President Trump's proposed cuts to the National Institutes of Health — and limit the administration's influence over biomedical research grants.
Why it matters: The bipartisan sentiment shows that medical research and efforts to find new cures still have strong support on Capitol Hill after a turbulent year for NIH.
President Trump's historic disputes with the press have intensified in his second term as he uses his political power to set new legal and regulatory standards that threaten the media's independence long term.
Why it matters: Policy changes and new legal standards are much harder to unwind than harassment campaigns, even with a new party in power.
Senate Republicans are rallying behind Sen. Bill Cassidy (R-La.), but their big-dollar super PAC will likely leave him out to dry.
Why it matters: Senate Majority Leader John Thune (R-S.D.) is 0 for 3 in the closing stretch on getting President Trump to endorse some critical, embattled GOP incumbents.
House Democrats are struggling with how to vote on a bill funding the Department of Homeland Security in the aftermath of the shooting of Renee Good by ICE officers earlier this month.
Why it matters: Democrats largely agree that the bill doesn't go far enough in constraining ICE and Customs and Border Patrol officers, but some in the party still feel compelled to vote to fund the department as a whole.
