Trump interview live updates: CNBC's Joe Kernen to sit down with the president at Davos

NATO Secretary General Mark Rutte told Trump not to doubt that America’s allies would come to its defense if it ever came under attack.

“There is one thing I heard you say yesterday and today. You were not absolutely sure that the Europeans would come to the rescue of the U.S. if you will be attacked,” Rutte told Trump during a bilateral meeting at Davos.

“Let me tell you, they will. And they did in Afghanistan,” Rutte added, referring to the military response to the Sept. 11, 2001, terror attacks.

“For every two Americans who paid the ultimate price, there was one soldier from another NATO country who did not come back to his family,” Rutte said. “From the Netherlands, from Denmark, particularly from other countries.”

“So you can be assured, absolutely, if ever the U.S. will be under attack, your allies will be with you,” he added. “Absolutely. There’s an absolute guarantee. I really want to tell you this because this is important. It pains me if you think it is not.”

— Kevin Breuninger

The U.S. stock market has momentum heading into Trump’s interview with CNBC.

The Dow is up around 300 points in midday trading. The S&P 500 and Nasdaq Composite have gained 0.5% and 0.4%, respectively.

Stock futures jumped Wednesday morning after Trump said he would not use force to acquire Greenland.

Those moves mark a rebound following Tuesday’s sell-off. The three major indexes recorded their worst sessions since October after Trump threatened tariffs on European nations as part of his push to take over Greenland.

Follow live markets updates here.

— Alex Harring

Markets are waiting patiently to see who the next Federal Reserve chair, something Trump could discuss with CNBC during his interview Wednesday.

In the most recent development, Treasury Secretary Scott Bessent said Tuesday that the decision could come next week to see who will replace Jerome Powell, whose term ends in May. Bessent has led the screening process, which he said is down to four finalists that Trump will select for Senate confirmation.

Traders on prediction market Kalshi see former Fed Governor Kevin Warsh as the frontrunner.

—Jeff Cox

California Gov. Gavin Newsom said he was blocked from entering the U.S. pavilion in Davos after pressure from the White House.

“Under pressure from the White House and State Department, USA House (a church acting as the official US pavilion) is now denying entry to … Gavin Newsom to speak with media after Fortune — the official media partner — invited him to speak,” Newsom’s press office said in a post to X.

Newsom was scheduled to speak at the USA House, the official pavilion of the U.S. in Davos, and Fortune Magazine had promoted his appearance. Fortune is hosting speeches and fireside chats at the venue.

“How weak and pathetic do you have to be to be this scared of a fireside chat?” Newsom asked on X.

Newsom, a Democrat, has emerged as a chief antagonist to Trump in his second term and is often floated as a potential 2028 presidential contender.

— Garrett Downs

Trump, in his marquee address at Davos, laid out his case for why the U.S. should take over the Danish territory of Greenland.

But the remarks, which followed days of escalating rhetoric from the Trump administration, drew negative reactions from at least some in the crowd.

“This is ridiculous,” muttered one attendee as Trump broached the subject, while others shook their heads.

“This is scary,” another said after Trump called for “immediate negotiations” on a U.S. acquisition of Greenland.

“Yes, we laughed,” one politician told CNBC after the speech. “But it’s also frightening to think he might actually try to execute some of this.”

— Spriha Srivastava and Kevin Breuninger

In his Davos speech, Trump angrily called out Canadian Prime Minster Mark Carney by name in response to the allied leader’s stunning declaration that the international status quo was in the midst of a “rupture.”

“Canada gets a lot of freebies from us … they should be grateful also, but they’re not. I watched your prime minister yesterday, he wasn’t so grateful,” Trump said.

“Canada lives because of the United States,” he added. “Remember that, Mark, the next time you make your statements.”

Carney’s own address at Davos did not mention Trump by name. But the Canadian leader called out “great powers” weaponizing economic tools like tariffs, and suggested the “bargain” that came with American hegemony “no longer works.”

“You cannot live within the lie of mutual benefit through integration when integration becomes the source of your subordination,” Carney said.

— Kevin Breuninger

Trump should not threaten Europe with economic force as leverage to acquire Greenland, Citadel CEO Ken Griffin told CNBC in an interview. 

Trump should persuade European allies that it makes sense for the U.S. to acquire the island, Griffin said. 

“It should not be done abruptly,” Griffin said. “It should not be done under any form of either military or economic force. That’s just not the way to deal with our allies here in Europe.”

Trump has threatened several European countries, including Denmark, with tariffs that could shoot as high as 25% if they do not meet his demands on Greenland.

CNBC Pro subscribers can watch the full interview with Griffin here.

The president will sit down for an interview with CNBC’s Joe Kernen on Wednesday.

— Spencer Kimball

Fresh off the first anniversary of his second term in office, Trump arrived at the World Economic Forum in Davos, Switzerland, amid heightened geopolitical tensions.

The U.S. president is attempting to acquire Greenland, a self-governing territory of Denmark, which has caused much consternation among fellow members of the NATO military alliance.

On Tuesday, Treasury Secretary Scott Bessent told CNBC: “The U.S. is back, and this is what U.S. leadership looks like.”

—Christina Cheddar Berk