Heads up, global citizens 🌍! The European Union is preparing a hefty response to the US: up to €93 billion in retaliatory tariffs or restrictions on American firms’ access to its market. This move comes after US President Donald Trump threatened tariffs over Greenland, ramping up a transatlantic standoff.
So, what’s at play? Tariffs are taxes on imported goods – in this case, EU leaders drafted a list of American products that could face extra duties as leverage. They first drew it up last year but paused it until February 6, 2026 to avoid sparking a full-blown trade war. However, EU reps met on Sunday (January 17) and discussed reactivating the plan as frustrations rose.
They’re also eyeing the Anti-Coercion Instrument, a tool designed to curb any unfair pressure by limiting market access for firms seen as co-opting economic power for political ends. In simple terms: it’s a way for the bloc to defend itself if it feels strong-arm tactics are in play.
Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom – the eight nations hit by Trump’s proposed 10 percent levy from February 1 and possible 25 percent hike on June 1 – issued a solidarity statement supporting Denmark and its Greenland region.
European leaders didn’t hold back: Dutch Foreign Minister David van Weel called the US threat “blackmail,” while German Vice Chancellor Lars Klingbeil said, “A line has been crossed.” European Council President Antonio Costa warned that tariffs “would undermine transatlantic relations” and incompatible with existing trade rules. He’s convening an extraordinary European Council meeting in the coming days to coordinate a unified response.
All this is heating up just ahead of the World Economic Forum in Davos, where President Trump is set to meet EU heavyweights like Commission President Ursula von der Leyen and NATO chief Mark Rutte. Keep your apps on refresh 🔄 – this trade saga is only just kicking off!
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EU considering 93 billion euro tariffs against U.S. over Greenland
cgtn.com
