EU discusses $108 billion in retaliatory tariffs; Danish PM says Europe 'won't be blackmailed'

[ad_1] EU capitals have entered discussions to implement tariffs of as much as $107.71 billion on American merchandise after President Trump posted his plan to levy new tariffs on Europe on Saturday . Trump mentioned the US would implement 10% tariffs on eight European international locations he says are getting in the best way of a US buy of Greenland.

The tariffs would start Feb. 1 and apply to "any and all items despatched to" the US. The levies on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland could be raised to 25% on June 1 if no settlement is in place.

"China and Russia need Greenland, and there may be not a factor that Denmark can do about it. They at present have two dogsleds as safety, one added just lately," Trump wrote. "Solely america of America, below PRESIDENT DONALD J. TRUMP, can play on this recreation, and really efficiently, at that!"

The international locations — Denmark, Sweden, France, Germany, the Netherlands and Finland, Britain and Norway — are already topic to US tariffs between 10% and 15%.

"Tariff threats undermine transatlantic relations and threat a harmful downward spiral," the eight nations said in a joint assertion Sunday, as EU members deliberate to satisfy to debate potential countermeasures.

Danish Prime Minister Mette Frederiksen praised the constant message from the remainder of the continent, saying "Europe won't be blackmailed," a view echoed by Germany's finance minister and Sweden's prime minister.

US Treasury Secretary Scott Bessent was asked Sunday on NBC's Meet the Press whether or not Trump’s stance towards Europe is a negotiating tactic. However Bessent appeared to point the president wouldn’t change his thoughts.

"Europeans undertaking weak spot, US tasks power," he mentioned. "The president believes enhanced safety isn't potential with out Greenland being a part of the US."

On Saturday, protesters rallied in Denmark and Greenland , with hundreds in Greenland's capital metropolis of Nuuk chanting "Kalaallit Nunaat" — the island's identify in Greenlandic — as they marched to the U.S. embassy.

These protests got here after former NATO head and former Danish prime minister Anders Fogh Rasmussen mentioned Trump was speaking like a "gangster" and utilizing Greenland as a "weapon of mass distraction" from the warfare in Ukraine.

In the meantime, the US Supreme Court docket's first two alternatives to challenge a verdict this 12 months on the implications and legality of Trump's world duties on commerce companions have come and gone with out a choice.

The courtroom heard arguments in early November. Each conservative- and liberal-leaning justices requested skeptical questions of the tactic by which the president imposed his most sweeping duties. Trump imposed his tariffs by invoking a 1977 legislation meant for nationwide emergencies.

The Trump administration additionally made appeals to the courtroom final 12 months, and in latest weeks, Trump has steadily expressed concern over the ruling, saying shedding the power to tariff different international locations could be a "horrible blow" to the US. On Monday, he went even additional.

"If the Supreme Court docket guidelines towards america of America on this Nationwide Safety bonanza, WE’RE SCREWED!" he wrote on social media.

Canadian Prime Minister Mark Carney and China's President Xi Jinping have reached a deal to chop tariffs on Chinese language electrical automobiles, in return for decrease duties on Canadian farm merchandise.

Learn extra: What Trump promised with his 'Liberation Day' tariffs — and what he delivered

LIVE 43 updates EU eyes tariffs on $108 billion of US items over new Trump risk

The European Union is seeking to impose tariffs on $108 billion of US items after President Trump threatened to hit European international locations with a ten% levy. Relations between the EU and the US began to unravel over the weekend as Trump continued his pursuit of Greenland. The US president mentioned he would unleash 10% tariffs on items from eight European international locations ranging from February 1, rising to 25% in June, until a deal is struck on the "buy of Greenland."

Trump issued the risk after the EU mentioned it might undertake token NATO navy planning workout routines within the semi-autonomous Danish territory.

It is not simply tariffs that the EU is seeking to impose as its 27 international locations met Sunday to debate choices; the union can be weighing extra countermeasures past the tariffs, however in the end it's going to attempt to attain a diplomatic resolution first.

Trump has been eager to buy Greenland since he returned to workplace, saying it's for nationwide safety causes and has mentioned he'll take the island the "straightforward method" or the "exhausting method".

Some imagine that Greenland's pure sources, which embody uncommon earth minerals, uranium and iron and the truth that it might have vital oil and gasoline reserves, are the primary causes for Trump's calls for. Now that Trump has eliminated Venezuelan President Nicolás Maduro, his pursuit of Greenland has elevated.

Bloomberg information stories:

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Trump says US will levy 10% tariff on most of Europe over quest to buy Greenland

In a prolonged Truth Social post Saturday morning, President Trump mentioned the US would impose 10% tariffs on eight European international locations "till such time as a Deal is reached for the Full and Complete buy of Greenland."

The tariffs would start Feb. 1, the president wrote, and can apply to "any and all items despatched to" the US. The levies on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland could be raised to 25% on June 1 if no settlement is in place.

Trump alluded to the levies Friday throughout a roundtable event on healthcare , however didn't provide specifics on which international locations and the way a lot. Germany, France, Sweden, and Norway have dedicated to sending navy personnel to Greenland for what they known as a reconnaissance mission. Greenland is an autonomous territory inside Denmark, and the Danish international minister has mentioned there may be nonetheless "basic disagreement" with the US about management of Greenland.

Go deeper: <a data-i13n="cpos:3;pos:1" href="https://finance.yahoo.com/news/greenland-looks-like-trumps-next-geopolitical-priority-it-could-also-be-the-oil-industrys-next-great-hope-110029932.html" data-ylk="slk:Greenland looks like Trump’s next geopolitical priority. It could also be the oil industry’s next great hope.;cpos:3;pos:1;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;" class="link yahoo-link"> Greenland looks like Trump’s next geopolitical priority. It could also be the oil industry’s next great hope.

However Trump has insisted that the US "wants" the island nation to stop enlargement into the area by Russia and China. He repeated the declare on Saturday.

"World Peace is at stake! China and Russia need Greenland, and there may be not a factor that Denmark can do about it. They at present have two dogsleds as safety, one added just lately. Solely america of America, below PRESIDENT DONALD J. TRUMP, can play on this recreation, and really efficiently, at that!"

Reuters reported later Saturday that ambassadors from the EU's 27 international locations would maintain an emergency assembly on Sunday in gentle of Trump's newest remarks.

Learn extra: Trump vows tariffs on eight European nations over Greenland

<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Europe can wield this $8T ‘promote America’ weapon as Trump reignites a commerce warfare over Greenland Because the EU weighs retaliatory measures towards President Trump because of his 10% tariff risk, specialists imagine the EU's biggest weapon in its arsenal could also be its monetary markets.

Fortune stories:

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EU poses retaliation tariffs towards US totaling $107B European capitals might hit the U.S. with 93 billion euros ($107.71 billion) value of tariffs or limit American corporations from the bloc's market in response to U.S. President Donald Trump's threats to NATO allies against his marketing campaign to take over Greenland, the Monetary Occasions reported on Sunday.

The retaliation measures are being drawn as much as give European leaders leverage in pivotal conferences with Trump on the World Financial Discussion board in Davos this week, the FT report mentioned, citing officers concerned within the preparations for the conferences in Switzerland.

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Solar, January 18, 2026 at 5:19 PM UTC Bessent dismisses 'weak' Europe pushback on Trump plan to annex Greenland US Treasury Secretary Scott Bessent on Sunday dismissed European international locations' risk to nix a commerce deal negotiated final 12 months between the EU and the US as President Trump introduced new tariffs to drive a sale of Greenland to the US. Bessent made the remarks on NBC's Meet the Press, Reuters reported:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Fri, January 16, 2026 at 10:08 AM UTC Taiwan goals to be strategic AI associate in US tariff deal After reaching a deal to chop tariffs and increase its funding within the US, Taiwan intention's to develop into a detailed strategic associate with the US within the space of AI, Vice Premier Cheng Li-chiun mentioned on Friday.

Reuters stories:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Fri, January 16, 2026 at 10:06 AM UTC Canada, breaking with US, agrees to chop tariff on Chinese language EVs in return for decrease tariffs Canadian Prime Minister Mark Carney introduced on Friday that Canada and China have reached a deal for Beijing to chop tariffs on its canola by March 1. This newest transfer between the 2 international locations is an indication that the commerce rift, which disrupted crop flows, is beginning to thaw.

In return, Canada agreed to chop tariffs on Chinese language electrical automobiles. Canada will allow as much as 49,000 Chinese language EVs at a tariff of 6.1%, Carney mentioned after talks with Chinese language chief Xi Jinping.

That is the primary go to from a Canadian prime minister since 2017, as Canada seeks to construct its strategic alliances with the nation's second-largest buying and selling associate after the US.

Additionally it is an indication that China might begin to rebuild a few of its strategic allies, whereas Canada could also be breaking from the US.

Bloomberg Information stories:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Fri, January 16, 2026 at 9:06 AM UTC White Home says 25% semiconductor tariffs a 'part one' motion Reuters reports:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Fri, January 16, 2026 at 3:00 AM UTC Lawmakers introduce invoice to create $2.5B vital minerals stockpile Republicans and Democratic lawmakers have joined forces to introduce a invoice that may create a $2.5 billion stockpile of vital minerals, reminiscent of uncommon earths, in a bid to stabilise market costs and encourage extra home mining.

The invoice is Washington's newest try to offset what policymakers view as China's manipulation of costs for lithium, nickel, uncommon earths, and different vital minerals.

It additionally comes shortly after China agreed to ease export restrictions on uncommon earth supplies, as a part of its one-year commerce truce with the US.

Reuters stories:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/p7S65GyYypopyp3zhcjv_g--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2023-05%252F128dd290-f595-11ed-b4d8-cbe5a3d4e16f%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3D4032c266a6e3ad3af35e07e05b7f14a19b6e7fcb&compress=1&progressive=1&quality=75&client=hawkeye&signature=51fc62488f627e17b6456ed9c840a3a069d9e8bd" alt="Brett LoGiurato"/> Thu, January 15, 2026 at 7:50 PM UTC US, Taiwan attain commerce deal to chop tariffs, increase funding The US and Taiwan reached a commerce deal Thursday that may see tariffs minimize between the nations, whereas the US mentioned Taiwan would increase its funding within the US semiconductor business.

In accordance with a fact sheet from the US Commerce Division, Taiwanese semiconductor corporations make investments $250 billion to spice up financing in American operations. The Taiwanese authorities may also "present credit score ensures of at the least $250 billion" to the businesses for extra funding, the US mentioned.

The division mentioned the US "reciprocal" tariff fee on Taiwanese items would drop to fifteen%, down from 20%.

TSMC ( TSM ) seems prone to play a big position. More from Bloomberg :

The deal was introduced as Trump's most sweeping tariffs nonetheless face judgment earlier than the Supreme Court docket. If the excessive courtroom guidelines towards Trump's levies, it might impede his means to set "reciprocal" tariff charges, although different strategies — like levying tariffs on sure sectors — look to be on firmer authorized floor.

<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Thu, January 15, 2026 at 12:53 PM UTC South Korea to maintain monitoring US chip tariffs to minimise influence Reuters reports:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Thu, January 15, 2026 at 9:15 AM UTC Trump holds off on vital minerals tariffs after probe President Trump introduced on Wednesday that he will likely be opting out for now on imposing tariffs on uncommon earths, lithium, and different vital minerals. Trump has requested that his administration search provides from worldwide buying and selling companions.

Valuable metals reminiscent of silver ( SI=F ) retreated following a rally after the US mentioned it might maintain off from imposing tariffs on vital minerals.

Earlier this week, US Treasury Secretary Scott Bessent held a G-7 assembly to debate uncommon earth supplies and to hunt different suppliers to China, in a bid to scale back Western dependence on Beijing for the minerals.

Bloomberg Information stories:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Thu, January 15, 2026 at 3:00 AM UTC Preserve calm if Trump loses tariff case, commerce knowledgeable urges nations Regardless of the shortage of a tariff ruling from the US Supreme Court docket, one knowledgeable presents some recommendation to world nations ready with bated breath for the decision: "Calm."

Bloomberg Information stories:

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<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/p7S65GyYypopyp3zhcjv_g--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2023-05%252F128dd290-f595-11ed-b4d8-cbe5a3d4e16f%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3D4032c266a6e3ad3af35e07e05b7f14a19b6e7fcb&compress=1&progressive=1&quality=75&client=hawkeye&signature=51fc62488f627e17b6456ed9c840a3a069d9e8bd" alt="Brett LoGiurato"/> Wed, January 14, 2026 at 9:59 PM UTC Trump imposes 25% tariff on sure superior semiconductors Reuters reports :

Here's the full fact sheet .

<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/NGAdksx9mI7EOCPDxur9DA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fs.yimg.com%2Fos%2Fcreatr-uploaded-images%2F2019-08%2F36118300-c417-11e9-b3a3-135760195748&compress=1&progressive=1&quality=75&client=hawkeye&signature=4d2f3e0cb5fbdb522dc15f4c4881f3c11f1dc917" alt="Ben Werschkul"/> Wed, January 14, 2026 at 3:21 PM UTC One other Supreme Court docket choice day passes with out a ruling on President Trump's tariffs The Supreme Court docket convened on Wednesday and issued three opinions — however not the one which markets are watching most intently round President Trump's tariffs.

The rulings involved points like warrantless entries, whereas the tariff choice was delay for one more day. The courtroom additionally issued an opinion final Friday.

The ruling within the tariffs case, formally often known as Studying Sources, Inc. v. Trump, continues to be anticipated between now and the tip of the courtroom's session in June. It's centered on the 1977 legislation known as the Worldwide Emergency Financial Powers Act, which supplies the president the power to declare an financial emergency and take motion however does not particularly define tariffs as a treatment.

Trump and his staff had seized on the legislation to declare a wide range of emergencies — over points starting from fentanyl to commerce imbalances and extra — and impose blanket tariffs in response.

Trump set the stage for this week’s choice with weeks of Reality Social posts, together with one on Monday declaring {that a} unfavourable choice would imply “WE’RE SCREWED!”

<img class="avatar yf-bfqodo" src="https://s.yimg.com/uu/api/res/1.2/Mu961r2aioIDU88sl1pWxA--~B/Zmk9ZmlsbDtoPTQwO3B5b2ZmPTA7dz00MDthcHBpZD15dGFjaHlvbg--/https://o.aolcdn.com/images/dims?image_uri=https%3A%2F%2Fo.aolcdn.com%2Fimages%2Fdims%3Fimage_uri%3Dhttps%253A%252F%252Fs.yimg.com%252Fos%252Fcreatr-uploaded-images%252F2024-10%252F82cf5f80-8bd8-11ef-babf-b4e662504245%26compress%3D1%26progressive%3D1%26quality%3D75%26client%3Dhawkeye%26signature%3Deba9c6bf409177b1a8c7fa8257231200b686e99c&compress=1&progressive=1&quality=75&client=hawkeye&signature=839dce8d897765d2f2bd1f7dbbf52134bb20dcb4" alt="Jenny McCall"/> Wed, January 14, 2026 at 11:48 AM UTC China's 2025 uncommon earth exports hit highest since at the least 2014 regardless of restrictions China's exports of uncommon earth supplies in 2025 hit the best stage since at the least 2014, an indication that Beijing is delivering on its promise, as agreed as a part of the one-year commerce truce with the US, to begin transport uncommon earths.