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The president said at the World Economic Forum that he won't use force to acquire Greenland.

Smith’s hearing comes after an eight-hour closed-door deposition with the Republican-led committee in December in which Smith spoke about his investigations into Donald Trump. Per NBC News, Smith had requested a public hearing before his December testimony, but Republicans refused.

President Donald Trump said in his Davos speech that he seeks "immediate negotiations" to acquire Greenland, but won't "use force."

Trump told business and political leaders at the World Economic Forum in Davos-Klosters, Switzerland that he believed the U.S. was owed ownership of Greenland. He demanded immediate negotiations over U.S. ownership but said that he didn't intend to use force to make that happen.

President Donald Trump said he's canceling his tariffs on European countries after saying in his Davos speech that the U.S. wouldn't use force to control Greenland.

Traders on prediction markets are feeling less convinced that President Trump will take control of Greenland after he [walked back his threat of tariffs on European countries](

World leaders at the World Economic Forum in Davos-Klosters, Switzerland are waiting for President Donald Trump to deliver remarks at 2:30 p.m. local time, or 8:30 a.m. Eastern. Read our live coverage by scrolling through the feed below.

The Dow Jones index rose Wednesday as Trump spoke at Davos. Netflix stock plunged on earnings.

President Trump's pledge to take the military option off the table for acquiring Greenland should give European capitals vital breathing space to try and resolve the issue with Washington, but it may not resolve the stand-off.