EU Suspends Turnberry Deal with US: Trade War Looms Over Greenland Dispute

• The European Union has suspended the Turnberry Agreement, a major trade deal with the US, due to escalating tensions.
• The deal, aimed at reducing tariffs on goods like cars and technology, was struck between Trump and Ursula von der Leyen in July.
• The suspension follows Trump's aggressive stance on Greenland at Davos, threatening tariffs on European nations if they don't cede the territory.
• Bernd Lange, Chairman of the European Parliament's Committee on International Trade, cited threats to Denmark's sovereignty and the use of tariffs as coercive weapons.
• The halt could significantly impact US exporters, leading to higher tariffs, decreased exports, and increased global market uncertainty.

Why It Matters: The EU suspended its trade deal with the US over Trump's Greenland threats, signaling a looming transatlantic trade war.