Trump steps up tariff pressure over Greenland… “U.S.-Europe friction enters a phase of ‘political tariffs’”
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Summary
- President Trump said he would impose up to 25% in additional tariffs on eight countries including Denmark, Germany, France and the United Kingdom over an outright purchase of Greenland.
- The EU said it is reviewing retaliatory tariffs on U.S. goods worth about €93 billion, along with restrictions on U.S. companies’ access to public procurement, investment, and financial and services markets.
- The market viewed the episode as a new pressure strategy that could add structural strain across risk assets, with inflationary pressure and supply-chain uncertainty potentially resurfacing.
After U.S. President Donald Trump revived tariff pressure by putting the Greenland issue on the negotiating table, the European Union (EU) moved to review its response, defining the move as political coercion that goes beyond economic pressure.
According to BlockBeats, a crypto-focused media outlet, on the 19th Trump said that if European countries do not comply with the U.S. demand for an “outright purchase of Greenland,” he would impose additional tariffs from next month on eight countries including Denmark, Germany, France and the United Kingdom. The tariff rate would be raised in stages, with the possibility being discussed that it could climb to as high as 25% by June. The remarks immediately triggered strong pushback within the EU, and some countries began emergency consultations, characterizing it as “economic intimidation.”
The EU is reviewing retaliatory tariffs on U.S. goods worth about €93 billion, and if necessary is also discussing invoking its “anti-coercion instrument” to restrict U.S. companies’ access to public procurement, investment, and financial and services markets. France and Germany made clear they cannot yield on matters of sovereignty, while Denmark said it would keep diplomatic dialogue open but drew a line at using tariffs as a negotiating tool.
Markets are interpreting the episode not as a simple trade dispute but as a new pressure strategy that combines tariffs with geopolitics and sovereignty issues. Analysts say that if U.S.-Europe tensions intensify in earnest, confidence in global trade could be damaged and inflationary pressure and supply-chain uncertainty could come back into focus. This could act as a structural headwind for risk assets broadly, including equities.
Crypto exchange Bitunix said, “In the short term, a deterioration in U.S.-Europe relations could spur demand for safe-haven assets, increasing volatility in both the dollar and U.S. Treasuries,” adding, “In the medium term, if the EU’s official retaliation materializes, the risk of renewed global trade fragmentation will be priced in again.”
It continued, “Over the long term, the key question is whether tariffs become a permanent instrument of political pressure,” adding, “This will have a significant impact on global capital flows and investors’ risk appetite.”
