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EU Weighs $100B Tariffs on US in Greenland Trade Spat

The European Union is preparing retaliatory tariffs worth 93 billion euros against the United States in response to President Trump's threat to impose tariffs on eight European nations. The US threat is linked to Trump's demand for the "complete and total purchase" of Greenland. The EU had drafted the tariff list last year but kept it suspended, and members discussed reactivating it amid the escalating transatlantic rift. The move is intended to give European leaders leverage ahead of pivotal meetings with Trump at the World Economic Forum in Davos.

Key Points: EU Plans $100B Tariffs on US Over Trump's Greenland Threat

  • EU drafting 93B euro retaliatory tariffs
  • US threatened tariffs on 8 European nations
  • Dispute centers on US demand to purchase Greenland
  • Measures aim for leverage before Davos talks
  • EU could also curb US market access
2 min read

EU considering hitting US with 93 billion euro worth of tariffs: Media

EU considers 93 billion euro tariffs on US goods in retaliation for Trump's proposed tariffs on eight European nations over Greenland purchase demand.

"full solidarity with Denmark and Greenland - Joint statement from eight targeted nations"

Brussels, Jan 19

The European Union is considering hitting Washington with 93 billion euros worth of tariffs or restricting American companies from the bloc's market, in response to US President Donald Trump's tariff threats over Greenland, according to Financial Times.

Citing officials involved in the preparations, the Financial Times said the retaliatory measures are being drafted to give European leaders leverage ahead of pivotal meetings with Trump at the World Economic Forum in Davos the following week.

The report said the EU had drawn up the tariff list since last year but kept it suspended until February 6 to avert a trade war. However, amid the escalation of the transatlantic rift over Greenland, representatives of EU members discussed reactivating it on Sunday, alongside talks about using the Anti-Coercion Instrument, which could curb US firms' access to the bloc's market, Xinhua news agency reported.

The report came after the eight countries directly targeted by the US proposed tariffs -- Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom -- issued a joint statement on Sunday declaring "full solidarity" with Denmark and Greenland.

In a social media post on Saturday, Trump said the United States would levy a 10-per cent tariff from February 1 on goods from the mentioned eight countries. He warned the rate would rise to 25 per cent on June 1 and remain in place until a deal is reached for the "complete and total purchase" of Greenland.

Trump, due to attend the World Economic Forum on Wednesday and Thursday, is expected to hold private talks with European leaders, including European Commission President Ursula von der Leyen, and to join a meeting of Western countries backing Ukraine. (1 euro = $1.16)

- IANS

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Reader Comments

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Priya S
Trump's obsession with buying Greenland is just bizarre. 🤦‍♀️ It shows how trade is being weaponized for personal geopolitical whims. The EU's strong response is necessary, but ordinary people everywhere will suffer from higher prices. Hope our policymakers are watching and learning how to protect our interests.
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Rohit P
As an Indian exporter, this trade war volatility is a nightmare. When US and EU clash, supply chains get disrupted worldwide. We need stable rules, not threats over an island. Maybe it's time for countries like India to lead in advocating for sensible multilateral trade frameworks.
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Sarah B
While the EU's solidarity is commendable, a 93 billion euro retaliation seems extreme and could hurt the global economic recovery. There must be a better way to resolve this than escalating tariffs. Diplomacy should be the first, second, and third option.
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Vikram M
The sheer scale of this potential trade war is mind-boggling. 93 billion euros! This is what happens when foreign policy is conducted via social media posts. India has wisely pursued strategic autonomy; we must continue to engage with all sides but avoid taking sides in these Western spats.
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Karthik V
Interesting to see Norway and UK in the list of targeted countries. Shows how alliances shift. The "complete and total purchase" of Greenland line is straight out of a corporate raid, not statecraft. The world economy isn't a board game for billionaires.

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