• Donald Trump said the US is seeking immediate negotiations to acquire Greenland, “but won’t use force”

• He also chastised European leaders, saying their countries are “not even recognizable, frankly, anymore”

• Christine Lagarde walked out of a dinner during a provocative speech by Howard Lutnick

President Donald Trump takes the stage at Davos.

In his first few lines he has already acknowledged, to a few chuckles, that he’s among “many friends, a few enemies.”

Trump doesn’t waste any time getting in a punch during the opening lines of his speech:

“It’s great to be back in beautiful Davos, Switzerland, and to address so many respected business leaders, so many friends, a few enemies, and all of the distinguished guests.”

He’s currently speaking on the US economy and his speech is set to be focused mostly on domestic issues.

Trump says that people are doing “very well” and are “very happy with me.”

Trump has already thrown jabs at Europe, saying it is “not heading in the right direction.”

After a preamble on how great the US economy is doing, Trump has gone for the jugular, saying “certain places in Europe are not even recognizable frankly.”

“I love Europe, and I want to see Europe go good, but it’s not heading in the right direction,” he said.

The mood here in Davos among executives is that while criticism of Europe is justified and can even be fair, there are respectful ways to do it. JPMorgan’s Jamie Dimon said earlier he would be “more polite.”

Trump now pivots to Venezuela and says the country is going to make more money in the next six months than they have made in the last 20 years.

Trump’s tone, just about 10 minutes into this speech, is notably low-energy for a president who likes to tout his hardiness. He’s also stuck to his teleprompter for a higher-than-usual amount of time so far.

He’s had harsh words for those in the audience: chastises European leaders and says their countries are “not even recognizable, frankly, anymore.” He blames his predecessor Joe Biden for some of the ills in the country.

He also touts Elon Musk’s record leading the cost-cutting effort under the Department of Government Efficiency, or DOGE. That’s noteworthy because Musk’s time in the federal government ended last spring as Trump and Elon’s relationship exploded on social media. But Musk has been coming back into Trump’s orbit recently, including a dinner with the president and Melania over the holidays.

Trump seems to have a message for the heads of state and the business leaders in the room as he talks about Venezuela’s response following Nicolas Maduro’s capture this month.

“The attack ended and they said -- let’s make a deal. More people should do that.”

Trump jokes he was going to leave Greenland out of the speech but then adds he has “tremendous respect” for Greenland and the people of Denmark.

Trump turns to Greenland, the issue everyone in the room is waiting for.

“I have tremendous respect for both the people of Greenland and the people of Denmark, tremendous respect. But every NATO ally has an obligation to be able to defend their own territory. And the fact is no nation or a group of nations is in any position to be able to secure Greenland, other than the United States.”

Trump says the US should have seized Greenland after the end of World War II.

“After the war, we gave Greenland back to Denmark. How stupid were we to do that? But we did it, but we gave it back. But how ungrateful are they now.”

Trump lays a continental claim to Greenland: “This enormous unsecured island is actually part of North America, on the northern frontier of the Western Hemisphere. That’s our territory.”

Trump is using the same argument about Greenland that he’s used to lay claim to Venezuela’s oil industry.

He says that the US “saved” Greenland and prevented “enemies from gaining a foothold” in the Western Hemisphere. Trump also references the US’s role in World War II as a reason the country deserves the Artic island. He says that’s why the US should be able to take the island for strategic security.

Trump has used this same line of thinking for why the US should be able to take over Venezuela’s oil infrastructure, saying US companies built the South American country’s energy industry decades ago and that it was stolen from them.

Trump calls for “immediate negotiations” on Greenland: “It’s the United States alone that can protect this giant mass of land, this giant piece of ice, develop it and improve it and make it so that it’s good for Europe and safe for Europe and good for us. And that’s the reason I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States.”

The biggest bit of news so far. Trump said he’s going to put together an offer to buy Greenland.

“It’s the United States alone that can protect this giant mass of land, this giant piece of ice, develop it and improve it and make it so that it’s good for Europe and safe for Europe and good for us. And that’s the reason I’m seeking immediate negotiations to once again discuss the acquisition of Greenland by the United States.”

Context: In 1946, the US secretly offered to buy Greenland. The offer was rejected.

Trump earlier joked that he thought about leaving the topic of Greenland out of his speech. It’s the topic everyone wants to hear him talk about and explain why he believes he must own the Arctic island.

“It’s a big piece of ice.” Not a comment that will endear him to the 57,000 thousand inhabitants there.

“Greenland is a vast almost entirely uninhabited and undeveloped territory sitting undefended in a key strategic location between the United States, Russia and China,” he said.

Trump also draws a direct line between Europe’s colonial past, arguing that means that the US should be able to do the same. He also reveals a fear: shrinking territory means declining wealth.

“Just as we have acquired many other territories throughout our history, as many of the European nations have. They’ve acquired many of them. Some went in reverse. If you look some had great, vast wealth, great, vast lands all over the world.”

Trump reiterated that the US needs to own Greenland for national and international security reasons. This ambition has been rejected time and again by Danes and Greenlanders.

Trump rules out invading Greenland after calling for negotiations.

“People thought I would use force. I don’t have to use force. I don’t want to use force. I won’t use force,” he says.