EU weighs EUR 93 billion retaliation over Trump’s Greenland threat

According to a report by Politico, EU ambassadors held an extraordinary meeting in Brussels following President Trump’s decision to impose additional tariffs on eight European countries over Greenland. During the meeting, concrete steps that could be taken against the US in case no agreement is reached in talks with Washington were discussed.

The ambassadors assessed various options that could be activated if Trump’s tariffs come into force. In this context, the reactivation of measures prepared by the EU last year — but suspended after a trade agreement was reached with the US in July — was brought back onto the agenda. These measures include the swift imposition of up to €93 billion in tariffs on US goods.

Another prominent option discussed was the EU’s so-called “trade bazooka,” formally known as the Anti-Coercion Instrument, which has never been used before. This legal framework was created to respond to economic pressure from other countries and allows the EU to take various economic measures against the US. Under this instrument, US companies could be restricted from accessing the European market, and their commercial licenses and participation in public tenders could be limited.

On January 17, President Trump claimed that world peace was at risk in relation to the Greenland dispute and announced that he would impose tariffs on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland for opposing the US purchase of Greenland. Trump stated that a 10% tariff would apply to these eight European countries from February 1, 2026, rising to 25% after June 1, 2026, and that these rates would remain in place until a deal is reached for the full purchase of Greenland.

Trump’s remarks drew reactions from EU leaders and European countries.

Meanwhile, EU leaders will convene at an extraordinary summit on Thursday, January 22, following Trump’s decision to impose additional tariffs on countries supporting Greenland. In a written statement, the spokesperson for the EU Council Presidency announced that European Council President António Costa will hold a special EU Leaders’ Summit at 19:00 on January 22 to discuss transatlantic relations. Costa also said that EU member state leaders will meet again in the coming days to further discuss the Greenland issue.