Trump abruptly called off the 10% tariffs on European nations that were set for February 1. He cited a new framework deal with NATO regarding security in the Arctic region after meeting with Secretary General Mark Rutte. Denmark's PM reiterated that sovereignty is not up for negotiation, though Trump claims the deal gives the US access to Greenland. Some other notes from Davos: - Elon Musk (TSLA) said tariff barriers are bad for solar power. - Jamie Dimon (JPM) said he generally dislikes tariffs unless they are for national security or unfair trade practices. - TSMC (TSM) is looking at more investment in Arizona. - Latin American exports are holding up well despite the recent trade noise.