In Davos, Mr. Bessent ridiculed Europe’s often convoluted decision-making process. He said that officials would form “the dreaded European working group” rather than devise a forceful response to Mr. Trump’s demands over Greenland. That limitation was on display on Wednesday, when the European Parliament voted to delay ratification of a long-negotiated trade deal between the European Union and four South American countries, a setback to the bloc’s push to diversify its trading relationships.

 

The Leverage That Europe Has Over the U.S. Economy

By Eshe Nelson

Reporting from London