Bessent: 'Grow Baby, Grow' Is US G20 Priority

Growth is going to be the priority of the United States' presidency of the Group of ⁠20 industrialized nations, Treasury Secretary ​Scott Bessent said Wednesday.

"As we assume leadership of the G20, ⁠our agenda is one that we wish not just ⁠for ourselves, ​but ⁠for all of our allies: grow, baby, grow," Bessent told reporters on the sidelines ⁠of ​the World Economic Forum in Davos, Switzerland.

Bessent also said he was not concerned about any sell-off in U.S. Treasuries related to the Trump administration's threats to impose tariffs on European allies opposing U.S. efforts to acquire Greenland.

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

"Denmark's ⁠investment in the U.S. Treasury bonds, like Denmark itself, is irrelevant," Bessent told reporters, describing Danish investment in U.S. 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 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 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."

Finally, Bessent said he had held a had positive discussion ⁠this week with Chinese Vice Premier ​He Lifeng and looked forward to meeting again soon.

"We held ⁠a positive discussion regarding the implementation of the economic ⁠agreement ​between ⁠President Trump and President Xi," Bessent wrote on X.