EU Dumping US Treasuries Over Trump’s Greenland Threats ‘Completely False Narrative’: Bessent

While the U.S. Treasury market is deep and liquid, it is vulnerable to foreign outflows, analysts have said.

Treasury Secretary Scott Bessent in the Oval Office at the White House in Washington, on Dec. 11, 2025. Al Drago/Reuters

Treasury Secretary Scott Bessent on Jan. 20 rejected as “a completely false narrative” speculation that European governments could retaliate against President Donald Trump’s push to take control of Greenland by selling U.S. Treasury holdings.

Bessent, speaking to reporters on the sidelines of the World Economic Forum annual meeting in Davos, Switzerland, dismissed questions about whether the Treasury Department and the White House had contingency plans if European capitals pursued what a reporter described as a “nuclear option” of dumping U.S. government debt.