Denmark, Greenland and the US are expected to formally sign the agreement on the sidelines of the UN General Assembly in New York next week.

Danish Prime Minister Mette Frederiksen said the agreement preserves the sovereignty and territorial integrity of the Kingdom of Denmark, as well as the right of Greenland’s people to self-determination.

Greenlandic Prime Minister Jens-Frederik Nielsen also welcomed the compromise, saying it protects the island’s core interests and security.

Trump said the deal would give the US permanent security control over Greenland at no cost. A US State Department official said Washington would move quickly to expand its military presence, including plans for three new bases in southern Greenland alongside Pituffik Space Base in the north.

According to the official, the arrangement would remain in place even if Greenland were to become independent in the future.