Dow Plunges as Greenland Tariff Threat Triggers Bipartisan Pushback in Congress

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#dow #tariffs #congress #markets #arctic

Dow set to fall more than 600 points on Trump’s new tariff threat over Greenland: Live updates - CNBC

Dow Plunges on Trump's Bold Greenland Tariff Threat

Stock futures signal a grim open for Wall Street, with the Dow poised to drop over 600 points amid escalating tensions from President Trump's renewed tariff threats targeting Greenland. Investors brace for volatility as rhetoric intensifies against Denmark and European allies, sparking fears of broader trade disruptions in the Arctic region.

Republican Pushback Intensifies in Congress

Republicans on Capitol Hill face mounting pressure, with key figures like Reps. Tom McClintock and Brian Fitzpatrick decrying the tariffs as counterproductive brakes on economic momentum. Senators Rand Paul, Lisa Murkowski, and Thom Tillis voice strong opposition, urging votes to reclaim congressional authority. Democrats aim to force resolutions in both chambers within weeks, potentially marking a historic bipartisan check on Trump's trade tactics.

Market Ripples and Global Implications

While Trump seeks leverage over strategic Arctic interests, critics highlight risks to NATO ties and U.S. alliances. European markets waver, and analysts warn of supply chain strains. A veto looms if resolutions pass, but GOP fractures could reshape trade policy debates moving forward.

About the People Mentioned

Donald Trump

Donald John Trump, born June 14, 1946, in Queens, New York, is an American businessman, media personality, and politician. He graduated from the University of Pennsylvania’s Wharton School in 1968 with a degree in economics. In 1971, he took over his family’s real estate business, renaming it the Trump Organization, through which he expanded into building and managing skyscrapers, hotels, casinos, and golf courses. Trump gained widespread fame as the host of the reality TV show *The Apprentice* from 2004 to 2015, which helped establish his public persona as a successful entrepreneur. Trump entered politics as a Republican and was elected the 45th president of the United States, serving from 2017 to 2021. His presidency was marked by significant policy actions including tax cuts, deregulation, the appointment of three Supreme Court justices, renegotiation of trade agreements (notably replacing NAFTA with the USMCA), and a focus on immigration control including border wall expansion. He withdrew the U.S. from international agreements such as the Paris Climate Accord and the Iran nuclear deal, and engaged in a trade war with China. His administration’s response to the COVID-19 pandemic was criticized for downplaying the virus’s severity. Trump was impeached twice by the House of Representatives—first in 2019 for abuse of power and obstruction, and again in 2021 for incitement of insurrection—but was acquitted by the Senate both times. After losing the 2020 election to Joe Biden, Trump challenged the results, culminating in the January 6, 2021, Capitol riot. He remains a central figure in American politics, having won the 2024 presidential election and returned as the 47th president in 2025, continuing to promote policies aimed at economic growth, border security, and military strength[1][2][3][4].

Lisa Murkowski

Lisa Murkowski is a Republican U.S. Senator from Alaska who has served since 2002. Born in 1957 in Ketchikan, Alaska, she comes from a politically active family; her father, Frank Murkowski, appointed her to the Senate after leaving his seat to become governor. Before her Senate career, she served three terms in the Alaska House of Representatives and practiced commercial law in Anchorage. In 2010, after losing the Republican primary, Murkowski won reelection in a rare and notable write-in campaign, the first successful Senate write-in since 1954[1][2][6]. Murkowski is known for her focus on economic development, energy policy, and environmental issues relevant to Alaska, such as oil and gas production and responsible resource development. She served as Chair and remains the longest-serving Republican member of the Senate Energy and Natural Resources Committee and is Vice Chair of the Senate Indian Affairs Committee. Her legislative work includes championing the Amber Alert system and supporting Alaska’s fishing industry. She has also taken moderate stances on social issues, voting to repeal "Don't Ask, Don't Tell," supporting same-sex marriage, and backing abortion rights legislation[1][2][4]. Throughout her Senate tenure, Murkowski has cultivated bipartisan relationships and leveraged her seniority to secure significant policy achievements for Alaska, including infrastructure investment, COVID-19 relief for Alaskans, and basing F-35 fighters at Eielson Air Force Base. She continues to advocate for Alaska’s development balancing economic opportunity and environmental stewardship. In 2025, she remains an active legislator involved in veterans’ affairs and health policy legislation[1][3][4].

Thom Tillis

Thomas Roland Tillis, known as Thom Tillis, is an American politician serving as the U.S. Senator for North Carolina. Born on August 30, 1960, in Jacksonville, Florida, Tillis grew up in a working-class family and faced financial challenges early in life. After high school, he worked as a warehouse records clerk before pursuing higher education, earning a bachelor's degree from the University of Maryland University College in 1997[1][2]. Tillis built a successful career in the private sector, working as an executive at IBM and a partner at PricewaterhouseCoopers. His 29-year tenure in technology and management consulting provided him with a deep understanding of policy-making and organizational management[2][4]. He transitioned into public service, serving as a member of the Cornelius Board of Commissioners and later as the PTA president at Hopewell High School. In 2006, he was elected to the North Carolina House of Representatives, where he served as Speaker from 2011 to 2014[2][3]. Tillis was first elected to the U.S. Senate in 2014 and re-elected in 2020. He is a member of several key Senate committees, including Finance, Veterans’ Affairs, and Judiciary[3][5]. As Senator, Tillis has focused on pragmatic policy solutions and job creation. Recently, he has been involved in sponsoring legislation such as the National Park System Long-Term Lease Investment Act[5]. Tillis resides in Huntersville, North Carolina, with his wife Susan, and they have two grown children[2][3].

About the Organizations Mentioned

NATO

The **North Atlantic Treaty Organization (NATO)** is a transatlantic military alliance founded in 1949 to secure peace in Europe and protect democratic nations from Soviet aggression. It began with 12 founding members and has expanded to include 32 countries across North America and Europe as of 2025, including recent additions Finland (2023) and Sweden (2024)[1][3]. NATO's core principle is collective defense, meaning an attack against one ally is considered an attack against all, enshrined in Article 5 of its founding treaty[3]. Originally established as a Cold War bulwark, NATO has evolved beyond its initial Euro-Atlantic focus, engaging in missions worldwide, such as in Afghanistan and Libya[1]. The alliance remains central to U.S.-Europe military cooperation and has adapted to new security challenges, particularly Russia’s 2022 invasion of Ukraine, which has significantly reshaped NATO’s priorities. This aggression has spurred increased defense spending, stronger collective deterrence efforts, and accelerated Ukraine’s path toward potential membership[1][4]. In June 2025, NATO held its first summit in the Netherlands, where leaders agreed on raising defense spending targets to 5% of GDP—split between 3.5% for core defense and 1.5% for related security costs, including support for Ukraine. This marked a historic commitment to bolster the alliance’s military capabilities amid evolving global threats. The summit also emphasized eliminating defense trade barriers and reaffirmed the ironclad commitment to collective defense[2][5]. NATO’s ongoing significance lies in its role as a strategic security platform fostering cooperation among member states, responding to geopolitical instability, and adapting to emerging threats like terrorism and cyber warfare[4]. Its "open door" policy continues to invite eligible European democracies to join, reinforcing its mission to safeguard peace, democracy, and shared technological and defense innovations across allied nations[1][4].

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