President Donald Trump said Wednesday that he and NATO Secretary General Mark Rutte have "formed the framework of a future agreement regarding Greenland."

Trump said that as a result of these negotiations, he would no longer impose punitive tariffs on a number of European countries that were scheduled to begin on February 1.

In an interview with CNBC's Joe Kernen, minutes after the statement was released, Trump described the framework for the Greenland deal as "the concept of a deal."

Asked for more details about the proposal, Trump said: "It's a little complex, but we'll explain it later."

But he suggested that the framework includes mineral rights for the US, as well as the "Golden Dome" missile defense system proposed by the Trump administration.

"They're going to be involved in the Golden Dome and they're going to be involved in the mineral rights, and so are we," Trump told Kernen.

Asked to confirm whether the tariffs would be lifted next month, Trump said: "No, we lifted them because it seems like we have, more or less, the concept of a deal."

 Trump's post on Social Truth 

Based on a very productive meeting I had with NATO Secretary General Mark Rutte, we have formed the framework for a future agreement regarding Greenland and, indeed, the entire Arctic Region. This solution, if achieved, will be an excellent solution for the United States of America and all NATO countries. Based on this understanding, I will not impose the Tariffs that were scheduled to take effect on February 1. Additional discussions are underway regarding the Golden Dome regarding Greenland. Further information will be made available as the discussions progress. Vice President J.D. Vance, Secretary of State Marco Rubio, Special Envoy Steve Witkoff, and various others, as needed, will be responsible for the negotiations – They will report directly to me. Thank you for your attention to this matter!

Stocks rose immediately after Trump posted the update.

The announcement came after a meeting at the World Economic Forum in Davos, Switzerland, in which several NATO members discussed a proposal to grant the US sovereignty over small parts of Greenland's land, The New York Times reported, citing three senior officials familiar with the discussion.

Other details about the framework agreement were unclear. Asked for additional information, White House spokeswoman Anna Kelly reiterated Trump's assurance that more details "will continue to emerge as discussions continue."

Despite the lack of clarity, the announcement marks an unexpected turn in the ongoing controversy over Trump's ongoing efforts to purchase Greenland for the US.

The Trump administration in recent weeks has talked about buying the island or even using the US military to take control of it, even though it is a territory of Denmark, a NATO ally.

Danish and Greenlandic officials have pushed back against the US, reiterating that Greenland is not for sale. As tensions escalated, a number of European NATO countries increased their military presence in the territory.

Over the weekend, Trump responded by threatening to hit those countries with new tariffs starting at 10% next month and rising to 25% in June.

During a speech in Davos earlier on Wednesday, Trump laid out his arguments for the US to acquire Greenland for national security reasons.

His remarks, including his call for “immediate negotiations” with Denmark, troubled some in the audience.

But Trump also said he would not use military force in pursuit of territory, in a marked shift from his previous stance.

Stocks, which had fallen sharply the day before due to Trump's increasing aggression towards Greenland, immediately recovered.

Later on Wednesday, Trump — who recently said anything less than full ownership of Greenland was “unacceptable” to him — declined to say whether the new framework included the U.S. purchase of the island.

"It's a long-term deal," Trump told CNN after a pause. "It's the ultimate long-term deal. And I think it puts everybody in a really good position."

Danish Foreign Minister Lars Løkke Rasmussen said in a post on X: “The day is ending on a better note than it started.”

He called on the parties to "sit down and figure out how we can address American security concerns in the Arctic, while respecting the red lines" set by Denmark.

However, some European leaders warned against premature celebrations.

"It's good that they are engaged in dialogue," German Finance Minister Lars Klingbeil told his country's ZDF television after Trump's meeting with Rutte.

"But we need to wait a little and not get our hopes up too soon," Klingbeil said.