The EU is considering retaliatory tariffs worth 93 billion euros against the US in response to Donald Trump's tariff threats against eight European countries. The threats concern the countries' military support for Greenland, and the EU is calling an extraordinary summit in Brussels on Thursday. Sources provide conflicting reports on the scope of countermeasures.
On Saturday, Donald Trump threatened eight European countries—Sweden, Denmark, Norway, Finland, Germany, France, the Netherlands, and the United Kingdom—with 10 percent tariffs starting February 1, to rise to 25 percent on June 1. The reason is the countries' military personnel on Greenland, which Trump wants to take over. According to the Financial Times, the EU is considering retaliatory tariffs of 93 billion euros, equivalent to about 997 billion kronor, or restrictions on US companies in the European market. The aim is to strengthen the EU's negotiating position ahead of the World Economic Forum in Davos, where Trump will attend and meet European leaders. The goal is a compromise to avoid cracks in NATO cooperation.
EU ambassadors met in Brussels on Sunday to discuss the response. A diplomatic source calls Trump's methods 'pure mafia methods' and stresses the need for calm: 'There are clear retaliatory instruments available... At the same time, we want to urge calm and give him a chance to step back.' Another diplomat describes the message as 'the carrot and the stick.' Some countries, like France, want to activate the EU's 'trade bazooka,' but the majority prefers dialogue to lower the temperature.
Antonio Costa, President of the European Council, announced on X that he is calling an extraordinary summit on Thursday in Brussels. The meeting, requiring physical presence of the heads of government, will address support for Denmark and Greenland, preparedness, and a joint assessment of the tariff threats.
Sweden's Prime Minister Ulf Kristersson confirms the meeting in an SVT interview: 'We will meet on Thursday in the European Council and discuss the matters thoroughly. I of course hope for very broad unity on this.' He warns of trade war risks but hopes for sanity: 'If the US doesn't want this, that's one thing, but using it as a threat to do things that are completely unacceptable we cannot accept. In the best case, the US comes to its senses.'
Sources to Reuters deny plans for countermeasures and emphasize a diplomatic solution, creating conflicting reports.
