BitGou: EU to reassess US ties despite Trump U-turn

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Daily Briefing

By Kate Turton

Hello. Trump's Greenland climbdown triggers relief but the way forward is unclear, the US president launches his Board of Peace, and Putin will discuss Ukraine peace with US envoys.

Plus, surging memory chip prices dim outlook for consumer electronics makers.

Today's Top News

Trump attends the 56th annual World Economic Forum, in Davos, Switzerland, January 21, 2026. REUTERS/Jonathan Ernst

US President Donald Trump's abrupt climbdown on using tariffs as a weapon to seize Greenland brought relief but left uncertainty on ending a standoff that has risked a deep rupture in transatlantic ties. This as Trump launched his Board of Peace.
The framework deal on Greenland agreed with Trump would require NATO allies to step up on Arctic security and the first results of this will be seen this year, NATO Secretary General Mark Rutte told Reuters.
Trump's use of tariffs as a foreign policy tool added fresh impetus in Davos this week to efforts to boost global trade beyond the US, with frustration palpable among many of Washington's top trading partners. Our Switzerland Chief Correspondent Dave Graham speaks to the Reuters World News podcast from Davos.
Russian President Vladimir Putin will discuss a possible peace plan for Ukraine with US envoys Steve Witkoff and Jared Kushner in Moscow after Trump said a deal to end the war was "reasonably close".
The US is due to officially exit the World Health Organization, in the face of warnings it will hit both US health and global health and also in violation of a US law that requires Washington to pay the U.N. health agency $260 million in fees that it owes.
Vice President JD Vance is expected to visit Minneapolis to show support for a massive federal law enforcement operation underway in a city that has been on edge since an ICE officer shot dead a 37-year-old mother of three. This as an appeals court lifted an order curbing immigration agents' tactics.
Elizabeth Holmes, the founder of now-defunct blood testing startup Theranos, has asked Trump to release her from prison with nearly six years left before she is eligible for release.
A commuter train has crashed against a construction crane in southeastern Spain, leaving several people injured, including one seriously, state broadcaster TVE reported. It came after Sunday's deadly high-speed train collision that killed at least 43 people and another train accident on Tuesday in which the train driver died.

Business & Markets

Global demand for smartphones, personal computers and gaming consoles is expected to shrink this year as companies from Britain's Raspberry Pi to HP raise sticker prices to offset surging memory chip costs.
Hyundai's labor union in South Korea warned the automaker against deploying humanoid ‌robots without union approval, saying the robots would bring "employment shocks".
Many patients using highly effective GLP-1 drugs like Wegovy may not regain lost weight quickly when they stop treatment, according to an analysis of real-world data shared with Reuters that sheds light on a chief concern about the therapies.
Sweeping US policy changes under Health Secretary Robert F. Kennedy Jr. are having a chilling effect on vaccine makers as anti-vaccine rhetoric has turned into concrete changes to inoculation schedules and recommendations, investors and executives said.
Canada's WestJet abruptly walked back a rollout of tighter economy seating last week after viral videos showed passengers struggling with cramped legroom. The U-turn offered a sharp warning to North American airlines redesigning cabins to favor higher‑paying travelers.
In today's Morning Bid podcast, global markets bounce back after President Trump abandons his tariff threats against Europe, and the Supreme Court signals it won't let him fire Fed governor Lisa Cook.

How Syria's Sharaa captured Kurdish-held areas while keeping the US onside

Syria's President Ahmed al-Sharaa delivers a speech on the first anniversary of Bashar al-Assad's fall, in Damascus, Syria December 8, 2025. REUTERS/Khalil Ashawi/File Photo

The Syrian government's rapid takeover of territory long held by the Kurdish-led Syrian Democratic Forces took shape in a string of high-stakes meetings in Damascus, Paris and Iraq earlier this month, nine sources briefed on the closed-door summits told Reuters.

The accounts, not previously reported and shared on condition of anonymity, showed that the US did not stand in the way of an operation that has radically altered Syria's balance of power, at the expense of a one-time ally.

Read more

And Finally...

Taylor Swift reacts on stage during the 67th Annual Grammy Awards in Los Angeles, California. February 2, 2025. REUTERS/Mario Anzuoni/File Photo

Taylor Swift, 36, will become the second-youngest songwriter ever inducted into the Songwriters Hall of Fame, joining the ranks of Stevie Wonder, who was 33 when he was inducted in 1983.

The honor places the pop superstar, winner of 14 Grammys, among the most celebrated songwriters across generations.

Read more

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