"After President Donald Trump announced he would levy 10% trade tariffs on eight European countries who oppose his annexation of Greenland, EU officials began mulling which measures to use to respond. At their disposal are 1. the use of the so-called "trade bazooka" a never-before-used instrument that could even go as far as restricting market access for US companies in the EU, 2. retaliatory tariffs, and 3. the suspension of the EU-US trade deal, which has yet to come into effect."
"Danish Prime Minister Mette Frederiksen said at the weekend, "Europe won't be blackmailed." German Chancellor Friedrich Merz said, "We don't want a trade dispute with the US" To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video But he's getting one, following Denmark, Norway, Sweden, France, Germany, the Netherlands, the UK, and Finland which are all being targeted with Trump's tariffs after they sent a handful of military representatives to Greenland the previous week."
"They did so to signal solidarity with Denmark which has counted Greenland as autonomous country within its kingdom since 1953. Economic Heavy Weaponry The words on everyone's lips in Brussels right now are "Trade Bazooka" - the slang name for a technical piece of EU legislation agreed back in 2023, officially called the EU Anti-Coercion Instrument, or ACI. Triggering it would allow the European Commission to impose sweeping trade barriers against any country targeted, potentially including market access restrictions and blocks on foreign investment."
President Donald Trump announced 10% tariffs on eight European countries after they opposed his annexation of Greenland. EU options include invoking the Anti-Coercion Instrument (the "trade bazooka"), imposing retaliatory tariffs, or suspending the not-yet-active EU-US trade deal. EU leaders scheduled an emergency summit to coordinate a response. Several leaders voiced positions: Denmark's prime minister said Europe would not be blackmailed; Germany's chancellor expressed reluctance for a trade dispute. Targeted countries include Denmark, Norway, Sweden, France, Germany, the Netherlands, the UK, and Finland. The ACI would allow sweeping measures including market access restrictions and blocks on foreign investment.
Read at www.dw.com
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