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EU readies 93bn tariffs in retaliation for Trump's Greenland threat
EU capitals are considering hitting the US with €93bn worth of tariffs or restricting American companies from the bloc’s market in response to Donald Trump’s threats to Nato allies opposed to his campaign to take over Greenland. The move marks the most serious crisis in transatlantic relations for decades.
The retaliation measures are being drawn up to give European leaders leverage in pivotal meetings with the US president at the World Economic Forum in Davos this week, officials involved in the preparations said.
They are bidding to find a compromise that would avoid a deep rupture in the western military alliance, which would pose an existential threat to Europe’s security.
The tariff list was prepared last year but suspended until February 6 to avoid a full-blown trade war. Its reactivation was discussed on Sunday by the EU’s 27 ambassadors, along with the so-called anti-coercion instrument (ACI) that can limit the access of American companies to the internal market, as the bloc wrestled over how to respond to the US president’s threat with punitive tariffs.
The retaliation measures are being drawn up to give European leaders leverage in pivotal meetings with the US president at the World Economic Forum in Davos this week, officials involved in the preparations said.
They are bidding to find a compromise that would avoid a deep rupture in the western military alliance, which would pose an existential threat to Europe’s security.
The tariff list was prepared last year but suspended until February 6 to avoid a full-blown trade war. Its reactivation was discussed on Sunday by the EU’s 27 ambassadors, along with the so-called anti-coercion instrument (ACI) that can limit the access of American companies to the internal market, as the bloc wrestled over how to respond to the US president’s threat with punitive tariffs.
https://www.ft.com/content/b2872a49-3d43-4a55-a483-de7b19e8e436
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