Tensions between the US and the European Union (EU) are rapidly escalating after President Donald Trump openly threatened to impose heavy tariffs on European countries related to Greenland if Washington does not achieve its goal of acquiring the strategic island.
According to statements from the US, a 10% tariff will be applied starting February 1, and may increase to 25% if the EU does not make concessions. This move has immediately faced strong backlash from Europe.
🔥 The EU reacts strongly, viewing this as an act of 'blackmail'
The Netherlands is one of the countries that has spoken out most strongly, criticizing the US for using tariffs as a pressure tool, calling it an act of 'political blackmail.' A total of 8 European countries are being targeted by the US, including: Denmark, Sweden, France, Germany, the Netherlands, Finland, the UK, and Norway.
In light of the serious developments, the EU has convened an emergency meeting in Brussels, calling for a coordinated response at the bloc level, rather than allowing individual countries to cope on their own.
⚔️ Response options are being considered by the EU:
The EU is currently discussing two main response scenarios:
Imposing retaliatory tariffs on 93 billion euros (~107 billion USD) of US goods: This is a package of measures that the EU announced last year in response to tariffs from Washington, but was temporarily suspended after both sides reached an agreement in July 2025. Now, this option is being brought back to the negotiating table.
Activating the Anti-Coercion Instrument (ACI): This is considered the EU's 'heavy weapon' – a tool that has never been used, allowing restrictions on investment, banking, financial services, trade services, and access to US public tenders in Europe. However, this measure still causes internal divisions due to the high level of confrontation.
Additionally, the European Parliament is considering suspending the ratification process of the EU–US trade agreement, which was expected to be voted on at the end of this month.
🧊 The EU is tougher, although there are still voices calling for dialogue
Although some leaders, particularly from Italy, continue to call for a dialogue solution and to avoid escalating tensions, the overall stance of the EU this time is assessed to be significantly tougher compared to previous trade confrontations with the US.
An emergency summit is scheduled to take place in Belgium on January 22, where EU leaders will continue discussions and may make a final decision on the response measures.
📉 Financial markets react strongly
In the context of rising geopolitical instability, gold and silver continue to reach new highs as money flows into safe-haven assets. In contrast, the crypto market suffers a huge shock: Bitcoin plummeted sharply to around $92,000, down nearly $4,000 in just 60 minutes, dragging over $500 million in positions liquidated.
