EU Scrambles to Avert Trump Greenland Tariffs, Prepares Retaliation

The European Union is scrambling to avert tariffs imposed by the United States on European goods, following President Trump's threat to impose tariffs on European goods over the Greenland dispute.

According to ^[1] Investing.com, the EU is preparing to retaliate with unprecedented countermeasures, including tariffs on US goods. The move comes after President Trump threatened to impose tariffs on European goods, including cars and aircraft, over the Greenland dispute.

The EU is concerned that the tariffs could have a significant impact on the European economy, particularly in the automotive and aerospace sectors. The EU is also worried that the tariffs could lead to a trade war between the two sides.

The European Commission has announced that it will hold an emergency meeting to discuss the situation and determine the best course of action. The meeting is expected to take place later today.

The EU is also considering imposing tariffs on US goods, including soybeans and pork, in retaliation for the US tariffs on European goods.

The situation is developing rapidly, and it is unclear what the outcome will be. However, one thing is certain: the EU is determined to protect its interests and will not back down in the face of US pressure.

Sources

[1] EU scrambles to avert Trump Greenland tariffs, prepares retaliation

[2] Stocks skid in Asia, dollar dips on trade war risk

[3] Dollar under pressure, safe havens rise as Trump ups tariff ante over Greenland