Brussels is gearing up for a major trade showdown with Washington. According to a Financial Times report, the European Union is seriously considering slapping tariffs worth up to 93 billion euros on American goods or even barring U.S. companies from its lucrative market. This aggressive response comes in direct retaliation to U.S. threats of imposing tariffs on Greenland-related trade.
Officials close to the matter reveal that preparations for these countermeasures are in full swing. The goal? To arm European leaders with a strong bargaining position ahead of critical meetings next week at the World Economic Forum in Davos, Switzerland. There, top EU figures are scheduled to sit down with U.S. President Donald Trump in high-stakes discussions.
The tariff list was actually drawn up last year, but held back until February 6 to avoid escalating a full-blown trade war. Recent tensions over Greenland, however, prompted European representatives to revive discussions on Sunday. Talks also touched on legal mechanisms to restrict American firms’ access to EU markets, as noted by Xinhua news agency.
The timing couldn’t be more charged. Eight nations directly in the crosshairs of U.S. tariff proposals—Denmark, Finland, France, Germany, Netherlands, Norway, Sweden, and the United Kingdom—issued a unified statement expressing full solidarity with Denmark and Greenland.
Just a day earlier, Trump took to social media, announcing that starting February 1, the U.S. would levy a 10% duty on imports from these countries. He warned that this would jump to 25% by June 1 and stay in place until a deal is reached for the ‘complete purchase’ of Greenland.
Trump is set to attend the Davos forum on Wednesday and Thursday, where private talks with European leaders, including European Commission President Ursula von der Leyen, are anticipated. He may also join meetings supporting Western backing for Ukraine.
As transatlantic relations strain under trade pressures, the world watches closely. Will cooler heads prevail in Davos, or are we on the brink of a renewed trade war? The stakes have never been higher for global commerce.