U.S. President Donald Trump on Wednesday renewed his demand for the United States to take control of Greenland but made his clearest statement to date ruling out the use of military force to acquire the Arctic island. Speaking at the World Economic Forum in Davos, Switzerland, Trump said Washington would pursue negotiations rather than coercion, despite escalating tensions with Europe.

“I don’t have to use force. I don’t want to use force. I won’t use force,” Trump said, adding that while the U.S. would be “unstoppable” if it chose to act militarily, that option was off the table. He insisted that U.S. interest in Greenland is driven solely by global security concerns, not by access to minerals or natural resources.

During his hour-long address, Trump argued that only the United States is capable of defending Greenland effectively, describing the territory as strategically vital to international security. He sharply criticized Denmark, calling it “ungrateful” for past U.S. actions during World War II, and reiterated that talks on Greenland were ongoing.

The president’s remarks came amid strained relations between Washington and several European capitals. Trump criticized Europe’s policies on immigration and energy, stating that “certain places in Europe are not recognizable anymore,” and claimed the continent was “not heading in the right direction.” He also took aim at Canadian Prime Minister Mark Carney, saying Canada “gets a lot of freebies.”

Trump further questioned the balance within NATO, claiming the U.S. receives little in return for what he described as “protecting Europe.” While reaffirming his support for the alliance, he expressed doubts over whether NATO would come to the United States’ aid if needed, despite the alliance’s Article 5 commitment.

Markets reacted positively during Trump’s speech, with U.S. stocks opening higher and the Dow Jones Industrial Average rising more than 300 points in early trading.

Despite insisting he would not use force, Trump has not ruled out applying pressure to achieve his goal. Asked how far he was willing to go to acquire Greenland, he replied: “You’ll find out,” adding that “there’s no going back.”