Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Bessent said he saw no risk of European institutional investors, including pension funds in Denmark, reducing their exposure to U.S. Treasuries in response to the Trump administration’s threats to impose tariffs.
“I’m not concerned at all,” Bessent told reporters. “As Treasury Secretary, I see our Treasury auctions. We’ve had record foreign investment.”
He downplayed the significance of Danish holdings of U.S. government debt, calling them small and immaterial to the overall market.
Bessent’s comments come after European leaders criticised Washington’s approach to Greenland, with French President Emmanuel Macron warning that Europe would not be intimidated and suggesting the European Union could deploy its Anti-Coercion Instrument, also known as the “trade bazooka”.
The Treasury Secretary dismissed Macron’s remarks as “inflammatory” and was similarly critical of France’s announcement that it was seeking a NATO military exercise in Greenland.
“If this is all President Macron has to do when the French budget is in shambles, I would suggest that he focus on other things for the French people,” Bessent said.
He also criticised Britain’s plans to cede sovereignty of the Chagos Archipelago, saying the move undermined U.S. interests, and urged European critics of President Donald Trump’s Greenland policy to remain calm.
“Why don’t they sit down, wait for President Trump to get here and listen to his argument?” Bessent said, adding that he believed they would ultimately be persuaded.
Bessent said the Trump administration would continue to prioritise economic growth, describing a “grow, baby, grow” agenda as central to U.S. policy as it assumes the presidency of the Group of 20 (G20).
