The big picture: Danish Defense Minister Troels Lund Poulsen told the outlet Jyllands-Posten on Tuesday that Denmark would spend a "double-digit billion amount" in krone equivalent to at least $1.5 billion on the self-ruled territory that's part of its kingdom to ensure a "stronger presence" in the Arctic.

Denmark is bolstering defense spending in Greenland, said a Danish official Tuesday who called the announcement's timing with President-elect Trump's suggestion that the U.S. should own the territory an "irony of fate.