Bessent played down criticism from European leaders of Washington’s designs on Greenland, and whether the issue could spark a sell-off in US Treasuries by institutional investors in Europe, such as pension funds in Denmark and elsewhere.

“Denmark’s investment in the US Treasury bonds, like Denmark itself, is irrelevant,” Bessent told reporters on the sidelines of the World Economic Forum annual meeting in Davos, describing Danish investment in US Treasuries as small.

“I’m not concerned at all. Again, as Treasury Secretary, I see our Treasury auctions. We’ve had record foreign investment.”

French President Emmanuel Macron said on Tuesday that Europe would not give in to bullies or be intimidated over Greenland, and has said the European Union should consider use of its Anti-Coercion Instrument, informally known as the “trade bazooka”.

Bessent accused Macron of making “inflammatory statements” and was dismissive when asked about France on Wednesday announcing that it was seeking a NATO exercise in Greenland.

“If this is all President Macron has to do … when the French budget is in shambles, I would suggest that he focuses on other things for the French people,” he said.

Bessent also said Britain was letting down the United States with its plans to cede sovereignty of the Chagos Archipelago, and urged critics of US President Donald Trump administration’s approach to Greenland to take a “deep breath”.

“Why don’t they sit down, wait for President Trump to get here and listen to his argument?” he said, adding: “Because I think they’re going to be persuaded”.

Bessent also said pursuing a policy of “grow, baby, grow” would be at the heart of the US agenda as the current president of the Group of 20 industrialised nations.