The EU could fire a 'trade bazooka' to retaliate against Trump tariffs aimed at NATO allies
Fortune • • world
Key Points:
- President Donald Trump announced tariffs of 10% starting February 1, rising to 25% on June 1, targeting Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland until a deal is reached for the purchase of Greenland.
- The tariffs follow these countries sending troops to Greenland for training at Denmark's request, amid U.S. concerns over Arctic security and competition involving China and Russia.
- French President Macron plans to request the EU activate its anti-coercion instrument, a powerful trade defense mechanism, in response to the tariffs, with EU officials set to discuss possible retaliatory measures.
- The EU faces challenges as the tariffs threaten to derail a recent trade deal with the U.S. that had suspended
