U.S. Treasury Secretary Scott Bessent expressed confidence on Tuesday that the United States and European countries would find a solution over the U.S. administration's aim to take over Greenland, brushing off "hysteria" about a possible trade war.

Treasury Secretary Scott Bessent blamed Tuesday’s stock-market drop on the Japanese bond market. “It’s got nothing to do with Greenland,” he said on Steve Bannon’s War Room podcast. Bessent defended P

"For working families for each wage earner, we could see up to $1,000 per wage earner," Bessent told Fox Business host Maria Bartiromo on Tuesday at the World Economic Forum in Davos, Switzerland. Last month, Bessent predicted there would be up to $150 billion in tax refunds, "which could be between $1,000, $2,000 per household."

Bessent says he is confident US-Europe relations will remain strong and Greenland will end in 'very good place for all'

The Treasury Secretary said he expects to proceed with the agreement, despite some European Union lawmakers saying they might put it on hold over Trump’s Greenland comments.

Bessent dismissed concerns of an extended trade war with the European Union sparked by Trump’s threat to impose tariffs on eight NATO member states unless they agree to the U.S. acquiring the Danish territory of Greenland.