U.S. President Donald Trump on Wednesday proclaimed his country was the world's "economic engine," and slammed Europe as "not heading in the right direction," as Washington's allies push back against its bid to seize Greenland.

"The USA is the economic engine on the planet. And when America booms, the entire world booms. It's been the history," he said during a speech at the World Economic Forum in Davos, where the Greenland crisis has dominated talks.