The Shadows of Davos: Will the Greenland Accord Mirror Munich?
The announcement today in Davos of a “framework” agreement between President Trump and European leaders—purportedly ending the immediate threat of 10% to 25% tariffs in exchange for a “future deal” on Arctic security and Greenland—has been met with a collective sigh of relief from global markets. On the surface, the “trade bazooka” has been holstered, and the specter of a trans-Atlantic trade war has receded. However, for those with a sense of history, the atmosphere feels uncomfortably familiar. One cannot help but look at this “framework” and hear the faint, haunting echoes of the 1938 Munich Agreement.
While the geopolitical stakes of 2026 are not an exact mirror of the 1930s, the structural parallels are unsettling. Today, we must ask: Is this truly a blueprint for a stable Arctic, or is it merely “peace in our time”—a temporary reprieve that emboldens future aggression?