"Over the weekend, he had also threatened to lift the tariffs to 25% from 1 June. The threat had prompted widespread apprehension; criticism from senior European politicians, who declared they will not allow ourselves to be blackmailed; and warnings from economists. European Union leaders had threatened to deploy the bloc's so-called anti-coercion instrument (ACI), otherwise known as the trade bazooka, which would have allowed the EU to retaliate in defense of coercion measures through extraordinary trade sanctions."
"After what he called a very productive meeting with the Nato secretary general, Mark Rutte, on Wednesday, Trump claimed he had formed the framework of a deal over Greenland, without providing more information. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1, the president said. Trump did not give further details of the agreement, but said talks were continuing concerning a US missile defense shield that would be in part based in Greenland."
President Donald Trump said he will not impose 10% tariffs from 1 February on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland after claiming agreement on a Greenland deal framework. He had earlier threatened to raise tariffs to 25% from 1 June. The tariff threats prompted criticism from senior European politicians, warnings from economists and threats by EU leaders to use the anti-coercion instrument (ACI) or "trade bazooka" in retaliation. Trump said a productive meeting with NATO secretary general Mark Rutte produced a deal concept and that talks continue on a US missile defense shield partly based in Greenland. Trump announced the reversal on his Truth Social platform.
Read at www.theguardian.com
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