US Treasury shrugs off bond sell-off over Greenland, calls Denmark “irrelevant”

U.S. Treasury Secretary Scott Bessent has said that Washington is not concerned about the sell-off of U.S. Treasury bonds amid tensions over Greenland and sharply described Denmark as “irrelevant.”

Speaking at a press conference on the sidelines of the World Economic Forum on January 21, Bessent commented on the decline in U.S. stock and bond prices that occurred the previous day amid investor concerns, Caliber.Az reports, citing American media.

When Bessent was asked how concerned he is about European investors pulling out of treasuries, Bessent said: “Denmark’s investment in U.S. Treasury bonds, like Denmark itself, is irrelevant.”

“That is less than $100 million. They’ve been selling Treasuries for years, I’m not concerned at all.”

Markets fell after U.S. President Donald Trump announced plans to impose 10% tariffs on eight European countries in the context of his demands regarding Greenland. According to Trump, the tariffs will take effect on February 1 and could later be raised to 25%.

Against this backdrop, discussions began in Europe about possible retaliatory measures, including reducing investments in U.S. government bonds. On January 20, Danish pension fund AkademikerPension announced it would sell $100 million worth of U.S. Treasuries. The fund’s chief investment officer, Anders Schelde, explained the decision by citing the “poor state of U.S. public finances.”

Responding to journalists’ questions about a potential withdrawal of European investors from U.S. Treasuries, Bessent said: “Denmark’s investments in U.S. Treasuries, like Denmark itself, do not matter. <…> That is less than $100 million. They have been selling bonds for many years, and I am not concerned at all.”

“We are asking our allies to understand that Greenland needs to be part of the United States,” he added.

By Khagan Isayev