The President also promised that a part of America's 'Golden Dome' missile defense system will be built in Greenland.

'Essentially, it's total access,' Trump told Fox Business anchor Maria Bartiromo on Thursday morning during an interview at the World Economic Forum. 'There's no end, there's no time limit.'

'I'm not gonna have to pay anything,' Trump added. 'We're gonna have total access to Greenland. We're gonna have all military access that we want. We're going to be able to put what we need on Greenland because we want it. We're talking about national security and international security.'

Negotiations with NATO are in the preliminary stage and the exact terms of the final agreement remain unclear. 

The US military has multiple bases throughout the Danish territory with leeway to establish more in the future, according to multiple reports. 

Top NATO military officials on Wednesday held a meeting with Trump administration officials to discuss Denmark ceding 'small pockets of Greenlandic' territory to the US where it could build bases, senior officials told The New York Times. 

The agreement was compared by the sources to UK military bases in Cyprus which are treated as sovereign British territories.

Trump did not immediately give details of the deal but said NATO would work with the US to build his Golden Dome missile defense system and share mineral rights.

'If the bad guys start shooting, it comes over Greenland,' Trump told Bartiromo. 'So we knock it down.'

Trump's latest statement also comes after he pulled back hefty tariffs on European countries as part of his initiative to take over Greenland. 

On Wednesday, Trump said 'additional discussions' were ongoing regarding Greenland and that Vice President JD Vance, Secretary of State Marco Rubio and Special Envoy to the Middle East Steve Witkoff were 'responsible for the negotiations'.

Trump told reporters in Davos that the deal will be 'put out pretty soon'.

'It gets us everything we needed to get,' he insisted, adding: 'It's a deal that everybody's very happy with.'

The stock market bounced back immediately after crashing on Tuesday over his tariff threats. Futures markets were back in the green on Wednesday morning.

Trump on Saturday threatened Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland with a 10 per cent tariff starting on February 1 after they sent troops to Greenland.

Since starting his second-term, the president has suggested the US should acquire Greenland to stop Russia and China from taking over strategic positioning in the Arctic region.

The Danish territory provides strategic access to the Arctic, where China and Russia have, in recent years, flexed their geopolitical might as the melting polar ice provides greater access to shipping lanes and natural resources.

Greenland, which houses NATO military bases, is also rich in oil, gold, graphite, copper, iron, and other rare earth elements.