"starting on February 1st, 2026, ... Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland, will be charged a 10% tariff on any and all goods sent to the United States of America. On June 1st, 2026, the tariff will be increased to 25%. This tariff will be due and payable until such time as a deal is reached for the complete and total purchase of Greenland."
"Deutsche Bank's Jim Reid highlighted that Liberation Day tariffs in April were stepped back a week later, after U.S. Treasury yields saw a "scary" session as investors retreated to safety, away from American borrowing. "Financial markets may play a big part in how this situation resolves itself," Reid wrote in a note to clients this morning. "The main Achilles Heel of the U.S. is the huge twin deficits."
President Trump threatened tariffs on several European countries to pressure Denmark into selling Greenland, announcing 10% tariffs starting February 1, 2026, rising to 25% on June 1. He framed the purchase as a national security necessity, citing Chinese and Russian interest and questioning Denmark's defense capacity for Greenland. Allies reacted negatively amid ongoing tariff and military spending disputes. Economists warn the tactic could backfire because large U.S. twin deficits and volatile markets leave the United States vulnerable to investor-driven shocks. Deutsche Bank noted that market reactions could force a resolution after investors sought safety during stressful sessions.
Read at Fortune
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