Authored by Rachel Roberts via The Epoch Times,
Iceland summoned the U.S. ambassador on Monday after U.S. President Donald Trump posted an image on Truth Social showing the north Atlantic island and other countries covered by the American flag, according to local media RUV.
Trump's Labor Day post depicted the United States, Canada, Greenland, Iceland, Mexico, the whole of Central America and the Caribbean covered by the stars and stripes banner, with the entire landmass labeled "United States of America." The image was shared without comment by the president.
Iceland is a founding member of NATO but has no army of its own and has had an agreement with the United States for its defense since 1951.
Icelandic Foreign Minister Thorgerdur Gunnarsdottir called in Billy Long, the U.S. ambassador to Iceland, who is new to the role, having formally taken up the post in August, according to RUV.
"The position was clearly expressed that the post was completely inappropriate," the foreign ministry told RUV.
'The 52nd State'Former Missouri Congressman Long joked in January that Iceland would become the 52nd U.S. state and that he might be appointed governor.
During his Senate confirmation hearing for the ambassadorial post in February, Long acknowledged this was a mistake, but said he was not being serious.
"It was like a three-way [conversation]. Somebody said something, somebody else said something, and yes, I did add the part about the 52nd state, which was totally inappropriate. But it was not something that I said as a pronouncement that was serious," he said.
"I just hope that the people in Iceland will give me a second chance to make a first impression," he said. "I have a lot of respect for them. They have a beautiful country - 700,000 Americans go there every year. I hope I can get that up to a million by the time my term's up."
Tensions Over GreenlandTrump's repeated assertions that the United States must acquire or control Greenland, a semi-autonomous Danish territory, led to tensions between Washington and Copenhagen.
Denmark has reiterated that the mineral-rich Arctic island is "not for sale," and that the future of Greenland is for the island's people to determine, together with Copenhagen.
The situation sparked a broader diplomatic crisis within Europe and NATO, with both the United States and Denmark founding members of the defense alliance.
Iceland last month narrowly voted in a referendum against reopening EU membership talks, with Trump's ambitions for Greenland featuring in the debate around whether or not the economically prosperous North Atlantic island would benefit from joining the 27-nation bloc.
Supporters of restarting EU accession talks pointed to the changing international security environment, including uncertainty surrounding Iceland's long-standing defense relationship with the United States.
Trump made his post just hours after the EU announced a 200 million euro ($232.5 million) investment package in Greenland during a visit by European Commission President Ursula von der Leyen.
Danish Prime Minister Mette Frederiksen told Danish news agency Ritzau in Nuuk that the Greenlandic government and the Greenlandic people "have said again and again that they do not want to be American."
"I hope no one is in any doubt about that, either in the United States or the rest of the world," she said, while on a visit to Greenland alongside von der Leyen and the Arctic island's prime minister, Jens-Frederik Nielsen.
Trump's 'Verbal Stumble' at DavosIn January, addressing the World Economic Forum in Davos, Switzerland, Trump appeared to mix up Greenland with Iceland several times, saying that Iceland had cost the United States a lot of money due to a drop in the stock market.
Secretary of State Marco Rubio later said that Trump had misspoken and said Iceland when he meant Greenland, saying, "I think we're all familiar with presidents that have verbal stumbles. We've had presidents like that before. Some made a lot more than this one."
In 2016, an addendum was made to the Iceland-U.S. defense agreement which was neither publicly discussed nor published in Iceland when it was signed, according to RUV, which reported on it last year.
The addendum gives the U.S. military and its contractors unrestricted access to Iceland's defense areas for the purposes of defending the island, which is sparsely populated with about 393,000 people.
The U.S. State Department did not immediately respond to a request for comment.
Tyler Durden Wed, 09/09/2026 - 10:15Greater China accounts for about 13% of Nike's revenue and 15% of Adidas', making the world's second-largest economy a major competitive battleground for both clothing brands.
A new UBS note highlights a widening divergence, with Adidas gaining market share as Nike's turnaround struggles to gain solid traction.
UBS retail analyst Jay Sole wrote Monday that Adidas continues to outperform Nike in China, citing an industry expert who highlighted Adidas's stronger locally tailored products and marketing. Nike, meanwhile, faces weaker product momentum woes, inventory challenges and disruption from changes to its distribution strategy.
Sole's conversation with the industry expert and other findings raise further questions about Nike management's execution and its ability to refocus the business on product innovation and consumer demand after years of prioritizing woke cultural wars that only ended up with S&P Dow Jones Indices booting the company out of the S&P100 later this month.
Here's more color on Sole's conversation:
China athletic wear industry market conditions are have softened:
We hosted a call on September 4th with an industry expert to provide insight around how athletic wear sales are trending in China. The expert believes overall industry conditions have become more challenging over the last several months, with demand slowing versus earlier in the year. While consumer interest in athletic wear remains healthy, shoppers are becoming increasingly value conscious amid broader macroeconomic pressures. Inventory levels across the industry remain manageable, though conditions vary significantly by brand. adidas continues to outperform and gain market share, while Nike remains under pressure due to ongoing channel restructuring, inventory challenges, and weaker product momentum. Domestic brands and emerging running brands are also gaining traction.
Consumers remain engaged but are becoming more value-focused:
The expert believes Chinese consumers remain interested in sportswear, fitness, and active lifestyles. However, macroeconomic uncertainty continues to influence purchasing behavior. Rather than exiting the category, consumers are becoming more selective and increasingly focused on affordability and value. Many shoppers are trading down to lower-priced products or gravitating toward brands that offer stronger perceived value. This environment appears to favor brands with compelling pricing, strong local relevance, and differentiated product offerings.
Nike: Challenges persist and a full recovery likely takes more time:
The expert noted Nike and Jordan have been the weakest-performing major global sportswear brands in China recently. The expert believes sales trends deteriorated through the summer, with declines remaining in the -DD% range and further decelerating into September MTD. According to the expert, Nike's challenges are largely idiosyncratic. Nike has less new product innovation in the performance side of this business y/y. At the same time, the company has reduced distributor participation in ecommerce channels, scaled back promotional support, and focused on improving pricing integrity. While these actions may improve the long-term health of the business, they are adding to near-term sales pressure. Inventory levels remain somewhat elevated, though the expert noted conditions improved between July and August. Looking ahead, Nike's recovery is expected to take time and will likely depend on improved product innovation, cleaner inventory levels, and successful execution of Nike's revised distribution strategy, in the expert's view.
Adidas: No signs of a slowdown, confidence in the 2027 outlook remains intact:
After beginning Q3 with high-single-digit growth, trading momentum strengthened considerably in August and September, with growth accelerating into the high teens. According to the expert, this performance has been driven by the success of the company's local-for-local product strategy, supported by effective and locally relevant marketing initiatives. While inventory levels remain somewhat higher, they are viewed as manageable, with no signs of increased discounting or promotional activity. Looking ahead, experts expect demand trends to remain healthy through the end of the year, with no indications of a slowdown. Early indications for 2027 are also constructive, with order books pointing to high-single-digit growth
Looking ahead: Industry growth likely remains modest while share shifts expected to continue:
The outlook for China's athletic wear market remains constructive but increasingly competitive. The expert expects industry growth to remain modest and roughly in line with broader economic growth. Market performance has become more polarized, with stronger brands continuing to gain share while weaker brands face mounting pressure. adidas appears positioned to continue gaining market share, supported by healthy inventories, strong product acceptance, and positive distributor sentiment. Nike is expected to remain under pressure as channel restructuring efforts continue and distributors work through elevated inventory levels. Beyond the major global brands, the expert highlighted continued strength from domestic players such as Anta, as well as international running-focused brands including On, ASICS, and Salomon. Overall, success in the market is increasingly tied to localization, product relevance, and the ability to deliver compelling value to consumers.
Nike shares have plunged nearly 40% this year through Monday's close, leaving the stock deep in a bear market.
Adidas has fallen roughly 12%, outperforming its US peer so far this year.
Tyler Durden Wed, 09/09/2026 - 10:00