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‘Dangerous downward spiral’: European leaders slam Trump’s tariff threat

by News Desk
2 months ago
in International, Top News, World
‘Dangerous downward spiral’: European leaders slam Trump’s tariff threat
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European leaders have condemned United States President Donald Trump’s threat to slap tariffs on countries that resist his bid to take over Greenland, warning the move risks a “dangerous downward spiral” in transatlantic ties.

In a joint statement on Sunday, the eight countries targeted by Trump for new tariffs said they “stand in full solidarity” with Denmark and the people of Greenland, a semi-autonomous Danish territory.

“Building on the process begun last week, we stand ready to engage in a dialogue based on the principles of sovereignty and territorial integrity that we stand firmly behind,” Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden and the United Kingdom said in the statement.

“Tariff threats undermine transatlantic relations and risk a dangerous downward spiral. We will continue to stand united and coordinated in our response. We are committed to upholding our sovereignty.”

The rebuke came as European officials were preparing to hold emergency talks on coordinating a response to Trump’s escalating pressure campaign over the future of the vast island.

European Council President Antonio Costa said on Sunday that the bloc was united in upholding national sovereignty and to “defend ourselves against any form of coercion” ahead of a planned extraordinary meeting of member states in the coming days.

European officials are expected to discuss a range of options for responding to Trump’s economic threats, including retaliatory tariffs and market restrictions for US firms.

Trump announced on Saturday that the eight countries will face a 10 percent tariff from February 1, rising to 25 percent from June 1, until a deal is reached for the US to buy Greenland.

The Financial Times reported that the bloc was considering imposing 93 billion euros worth of tariffs on US goods as well as activating the Anti-Coercion Instrument, commonly known as the “trade bazooka”, adopted by the bloc in 2023.

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