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President Donald Trump is showing the world “the U.S. is back,” Treasury Secretary Scott Bessent told CNBC, as tensions rise over the president’s bid to acquire Greenland<\/a>.<\/p>\n Asked about the president’s agenda at the World Economic Forum in Davos<\/a>, Switzerland, where Trump is set to make an address on Wednesday, Bessent said: “The U.S. is back, and this is what U.S. leadership looks like.”<\/p>\n Tensions are high at the meeting after Trump raised the stakes on his intention to acquire the self-governing Danish territory, which has rattled the NATO military alliance<\/a>. Overnight, he announced 200% tariffs on French wines and Champagne, and said the U.K. was showing “total weakness” by handing sovereignty of the Chagos Islands to Mauritius.<\/p>\n Meanwhile, Denmark sent more troops to Greenland for a military exercise.<\/p>\n Bessent said U.S. control of Greenland was “important,” adding: “That will stop any kind of a kinetic war, so why not pre-empt the problem before it starts?”<\/p>\n Bessent told CNBC that European countries should contribute their “fair share” towards defense. “While the\u00a0Europeans were building schools, having healthcare, we have been defending the world,” he said.<\/p>\n Trump has repeatedly said taking control of Greenland is vital for U.S. national security, frequently citing concerns about Russia and China’s Arctic influence. <\/p>\n ‘The dreaded European working group’Pharma ‘free riding’<\/p>\n The cost of drugs in the U.S. was also on Bessent’s agenda and he described European countries as “free riding” on the price of medications. <\/p>\n In December, nine of the largest pharmaceutical companies signed deals to lower their prices<\/a> in the U.S. with the aim of matching those overseas<\/a>. “The idea here is equalisation over time, the U.S. consumer and our health services will pay less and the Europeans have to pay more, they’ve been free riding.”<\/p>\n