Trump’s vow to control Greenland, including possible force, has triggered EU tariff threats on €93 billion of U.S. goods and market volatility across Europe.
On Jan. 20, U.S. President Donald Trump reiterated his intention to control Greenland, even suggesting the use of force, leading to strong opposition from European allies. The European Union is now considering imposing tariffs on €93 billion worth of U.S. goods in response. Financial markets reacted with European stocks falling over 1% and the U.S. dollar weakening. These developments add tension to U.S.–EU relations and follow earlier remarks by Treasury Secretary Bessent predicting a measured EU response to Greenland-related tariffs and the formation of a working group rather than immediate countermeasures.