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U.S. Treasury Secretary Scott Bessant U.S. relations with Europe remain strong, Trump said on Tuesday, urging trading partners to “take a deep breath” and let tensions cool down trump card Government’s threat of new tariffs ends Greenland “Let’s play it out.”
“I don’t think our relationship has ever been closer,” he said on the sidelines of the World Economic Forum’s annual meeting. davosSwitzerland.
On Saturday, Trump announced a 10% import tax starting in February on goods from eight European countries, which have rallied around Denmark after he stepped up calls for the United States to take over the semi-autonomous territory of Greenland.
Trump insists the U.S. needs the territory for security reasons to counter possible threats from China and Russia.
The US leader’s threats sparked outrage and a flurry of diplomacy across Europe, with leaders considering possible countermeasures including retaliatory tariffs and the first use of the EU’s anti-coercion tools.
There are three main economic tools the EU can use to pressure Washington: new tariffs, a suspension of the U.S.-EU trade deal, and “trade bazookas,” the unofficial term for the EU’s anti-coercion tools that can sanction individuals or institutions found to be exerting undue pressure on the bloc.