&imwidth=800&imheight=600&format=webp&quality=medium "$100 billion tariffs on US goods: That’s what Europe is planning in retaliation for Trump's Greenland tariff threat. There could be more...")
The European Union is planning countermeasures worth €93 billion (around $100 billion) of American goods in retaliation for US President Donald Trump’s threatened tariffs on European nations supporting Greenland, over his alleged plans to take control of the Danish autonomous territory. According to reports in Western media, EU officials drew up the measures to provide leverage ahead of meetings with Trump during the World Economic Forum in Davos starting on Monday (Jan 19). There could be more, as there's talk of EU invoking the Anti-Coercion Instrument against the US. Here is what you should know:
Trump plan to impose EU tariffs
Over the weekend, the Trump administration announced plans to impose tariffs on imports from Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland over their support for Greenland, which the US seeks to annex, citing national security concerns. The tariffs would go into effect on 1 February unless progress is made towards an agreement on Greenland transferring to US control.
Going beyond tariffs? European Union might invoke the Anti-Coercion Instrument
The EU is also mulling to invoke its Anti-Coercion Instrument which had been established in 2023. The instrument allows EU to respond to economic coercion by third countries through measures including tariffs, restrictions on public procurement, limits on services and investment, and curbs on intellectual property rights. Some EU governments are seeking to delay such a retaliation and instead allow for more negotiations. Others, including France, advocate immediate countermeasures if the US acts on its tariff threats.
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The US appears to be calibrating the tariff punishment, with a 10 per cent rate starting from February 1. If no agreement is reached, the rates could go up to 25 per cent by June.
Clear retaliation measures at hand: EU responds to Trump tariff theats over Greenland
A EU diplomat cited in the Financial Times said the bloc has “clear retaliation instruments at hand if this continues”.
Calling the Trump administration’s threats “pure mafioso methods”, the diplomat said European leaders still wanted to give the US president “an opportunity to climb down the ladder”.
A joint statement from the affected countries said the US tariff threat “undermines transatlantic relations and risks a dangerous downward spiral.”
What is the Greenland puzzle roiling transatlantic unity?
Trump is seeking greater US leverage over Greenland, a semi-autonomous territory of Denmark with strategic importance in the Arctic amid the growing military presence of Russia and the rising influence of China.
Several European NATO members – of which the US is a prominent partner – have participated in symbolic military deployments to Greenland under Operation Arctic Endurance. The confrontation is one of the most serious transatlantic disputes in decades. It raises concerns about the future of EU–US trade ties and cohesion within the NATO defence alliance.
