For seven years, the intellectual set treated Donald Trump’s interest in Greenland as a late-night punch line. On September 19, the punch line became a term sheet: the United States, Denmark, and Greenland agreed to give America permanent access, basing and overflight rights on the world’s largest island, while barring China, Russia, and every other non-NATO power from establishing a base there. Denmark keeps the flag. America gets the keys. Beijing gets a polite note saying the position has been filled.
This is the Trump Corollary to the Monroe Doctrine, producing something doctrines rarely produce: a deal. I’ve spent 30 years reviewing financial transactions, and here’s how I’d describe it: Washington skipped the fee-simple purchase nobody would sell and negotiated a perpetual easement with an exclusivity clause, usually the smarter trade. Presidents have tried the purchase route before. Harry Truman offered Denmark $100 million in gold for the island in 1946. Copenhagen passed then, too.
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