US President Donald Trump has threatened to impose a 25% tariff on European countries, including Denmark, Germany, France and the UK, unless they agree to sell Greenland to the US.
Trump's latest salvo came after the EU and Nato leaders expressed their solidarity with Denmark over the president's continued bid to claim the autonomous Danish territory. The president has long been fixated on acquiring Greenland, claiming it poses a national security threat to the US, but this assertion has been disputed by European allies.
In an extraordinary move, Trump threatened tariffs on any goods sent to the US from the eight European nations, including Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland. The tariff will be 10% starting February 1st, increasing to 25% on June 1st, unless the US reaches a deal for Greenland's complete and total purchase.
The EU has condemned Trump's actions as "unacceptable" and warned of a downward spiral. European leaders have rallied around Denmark, with French President Emmanuel Macron drawing an implicit comparison between Trump's threats and Vladimir Putin's invasion of Ukraine.
"We will not let ourselves be blackmailed," said Sweden's Prime Minister Ulf Kristersson in response to Trump's threat. Norway's PM Jonas Gahr Støre echoed this sentiment, stating that "threats have no place among allies."
Trump's aggressive trade strategy has raised concerns about the US economy, which analysts and policymakers warn could face significant damage from sweeping tariffs on the world.
The White House has played down such concerns, but Trump's administration has unleashed a wave of tariffs that has strained US trade ties with the world. Americans now face an average effective tariff rate of 16.8%, according to Yale University's Budget Lab, the highest level since 1935.
Polls have shown that most Americans oppose the idea of the US acquiring Greenland using military force, and even some of Trump's own Republican party members have criticized his actions as "bad for America".
Trump's latest salvo came after the EU and Nato leaders expressed their solidarity with Denmark over the president's continued bid to claim the autonomous Danish territory. The president has long been fixated on acquiring Greenland, claiming it poses a national security threat to the US, but this assertion has been disputed by European allies.
In an extraordinary move, Trump threatened tariffs on any goods sent to the US from the eight European nations, including Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland. The tariff will be 10% starting February 1st, increasing to 25% on June 1st, unless the US reaches a deal for Greenland's complete and total purchase.
The EU has condemned Trump's actions as "unacceptable" and warned of a downward spiral. European leaders have rallied around Denmark, with French President Emmanuel Macron drawing an implicit comparison between Trump's threats and Vladimir Putin's invasion of Ukraine.
"We will not let ourselves be blackmailed," said Sweden's Prime Minister Ulf Kristersson in response to Trump's threat. Norway's PM Jonas Gahr Støre echoed this sentiment, stating that "threats have no place among allies."
Trump's aggressive trade strategy has raised concerns about the US economy, which analysts and policymakers warn could face significant damage from sweeping tariffs on the world.
The White House has played down such concerns, but Trump's administration has unleashed a wave of tariffs that has strained US trade ties with the world. Americans now face an average effective tariff rate of 16.8%, according to Yale University's Budget Lab, the highest level since 1935.
Polls have shown that most Americans oppose the idea of the US acquiring Greenland using military force, and even some of Trump's own Republican party members have criticized his actions as "bad for America".