The U.S. president announced Saturday that Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland would face new 10% tariffs starting February 1, ramping up to 25% by June 1 if no deal materializes for Washington to acquire Greenland outright.
European diplomats convened an emergency huddle in Brussels on Sunday. France, channeling its inner action hero, pushed hard for unleashing the EU’s so-called “Anti-Coercion Instrument”—a sort of economic bazooka that could bar American firms from public contracts, restrict investments, and generally make life uncomfortable for U.S. exporters.
The ACI remains holstered for now, as cooler heads (mostly from export-heavy Germany) prefer chatting things out over firing the big guns. Still, the mere mention has markets twitching like a polar bear spotting an unexpected barbecue.
This Greenland saga is no mere real-estate whim. Trump frames it as vital Arctic strategy against Russia and China, though the U.S. already enjoys military access under a 1951 deal with Denmark. Meanwhile, Greenlanders and Danes have made their stance crystal clear: the world’s largest island is not on the market, thank you very much.
Protests erupted in Nuuk, with locals waving flags and chanting variations of “not for sale.” European leaders lined up to denounce the tariffs as unacceptable pressure on allies—Keir Starmer called it wrong to punish NATO partners for collective security, Emmanuel Macron labeled it unacceptable, and the chorus grew louder.
Economists predict months of thorny negotiations, delayed trade approvals, and possibly slumping European stocks as uncertainty reigns. One analyst quipped this differs from past Trump tariff episodes—here, Europe draws a firm line: Greenland stays put.
Yet dialogue beckons at Davos this week, where Trump addresses the World Economic Forum. Picture world leaders in ski boots, sipping hot chocolate while debating whether ice-covered real estate is worth a trade war. The spring could bring prolonged haggling, much like last year’s tariff tango that eventually found rhythm.
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