Democratic Efforts to Block Trump's Greenland Tariffs to European Nations
January 18th — According to Bloomberg, Senate Democrats are set to introduce legislation aimed at blocking former President Donald Trump from imposing tariffs on European nations that oppose the U.S. annexation of Greenland.
Earlier, Senate Minority Leader Chuck Schumer criticized the proposed tariff move, arguing it would harm the U.S. economy and strain relationships with key allies.
Earlier today, Trump posted on Truth Social with the following tariff announcements:
- Effective February 1st, a 10% tariff will be levied on all goods exported to the U.S. from Denmark (which oversees Greenland), Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland, citing the Greenland issue.
- The tariff rate will rise to 25% on June 1st.
- Tariffs will remain in place until an agreement is reached on the “complete purchase of Greenland.”
6 minutes ago
Paul Chan: Hong Kong is stepping up efforts to establish a Gold Central Clearing System, aiming to conduct a trial run within the year
Hong Kong Financial Secretary Paul Chan Mo-po published a blog post on January 18 titled *Seizing Development Opportunities in a Complex International Environment*.
In the post, he highlighted:
- Gold’s role as a central bank reserve, investment product, and risk-hedging tool has grown more prominent.
- Gold prices have risen by over 60% cumulatively in 2025, marking their largest increase since 1979.
- Global gold demand by value jumped 44% year-over-year to $146 billion in the third quarter of last year.
- Hong Kong’s gold spot trading market has become far more active: average daily trading volume on the Hong Kong Gold Exchange (HKGE) more than doubled year-over-year to HK$2.9 billion as of November last year.
- Hong Kong is advancing a gold central clearing system—critical financial infrastructure—to boost the reliability, efficiency, and liquidity of local gold trading and physical delivery, while cutting transaction costs. The goal is to launch a pilot this year, wit
6 minutes ago
Cross-chain linked address sent 1,017 ETH and 212 BNB to Tornado Cash, totaling approximately $5.19 million
January 18th — Per on-chain analyst Specter, linked addresses tied to Cambodia-based money transfer firm Huione have been continuously moving tokens over the past 15 hours. To date, they’ve deposited a total of 1,017 ETH and 212 BNB into Tornado Cash, with the combined value totaling approximately $5.19 million. Most tokens in the associated wallets have been emptied.
6 minutes ago
Next Week Outlook: Trump Returns to Davos, BOJ Rate Decision Looms
Next week (starting Jan. 18), former President Trump will lead a record U.S. delegation to the World Economic Forum (WEF) in Davos, where he will deliver a speech titled *How Can We Cooperate in an Increasingly Competitive World?*
Key topics expected to dominate discussions include tariff policy, U.S. military involvement in Venezuela, and the proposed move to acquire Greenland. Separately, the U.S. Supreme Court is set to hear a case involving Federal Reserve Governor Jerome Powell—whom Trump has sought to replace—while a ruling on the legality of Trump’s tariffs could also be issued next week.
Below is the upcoming macro event and data release schedule:
**Monday**
- Trump leads U.S. delegation to the WEF Annual Meeting in Davos
- China releases 2025 full-year GDP growth rate, Q4 annualized GDP rate, and full-year GDP total
**Tuesday**
- ECB President Christine Lagarde and BlackRock CEO Larry Fink participate in a WEF panel discussion
**Wednesday**
- Trump deliv
6 minutes ago