EU Prepares $108 Billion Tariff Pushback Against Trump's Greenland Threat

• The EU is preparing a $108 billion tariff package as a countermeasure against President Trump's threat to impose new tariffs on European nations.
• Trump threatened new tariffs starting February 1 on Denmark, Sweden, France, Germany, Netherlands, Finland, Britain, and Norway until the US is allowed to purchase Greenland.
• EU leaders will hold an emergency summit in Brussels to discuss retaliation options, including tariffs on US imports and the Anti-Coercion Instrument.
• European Council President Antonio Costa affirmed strong backing for Denmark and Greenland, stating EU members are ready to defend against coercion.
• The tariff threat has unsettled global markets, with the euro and sterling falling, and has cast doubt on recent US-EU and US-Britain trade deals.

Why It Matters: The EU is readying significant tariffs to counter Trump's Greenland-related trade threats, escalating transatlantic tensions.