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    Home > Finance > EU warns of downward spiral after Trump threatens tariffs over Greenland
    Finance

    EU warns of downward spiral after Trump threatens tariffs over Greenland

    Published by Global Banking & Finance Review®

    Posted on January 17, 2026

    2 min read

    Last updated: January 19, 2026

    EU warns of downward spiral after Trump threatens tariffs over Greenland - Finance news and analysis from Global Banking & Finance Review
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    Tags:financial crisisinternational organizationseconomic growthforeign currencyfinancial stability

    Quick Summary

    EU warns of a tariff spiral after Trump's Greenland threats. Tariffs risk prosperity and transatlantic ties. EU plans an emergency meeting.

    EU warns of downward spiral after Trump threatens tariffs over Greenland

    BRUSSELS, Jan 17 (Reuters) - European Union leaders on Saturday warned of a "dangerous downward spiral" over U.S. President Donald Trump's vow to implement increasing tariffs on European allies until the U.S. is allowed to buy Greenland.

    "Tariffs would undermine transatlantic relations and risk a dangerous downward spiral. Europe will remain united, coordinated, and committed to upholding its sovereignty," European Commission President Ursula von der Leyen and EU Council President Antonio Costa said in posts on X.

    The bloc's top diplomat Kaja Kallas said tariffs would hurt prosperity on both sides of the Atlantic, while distracting the EU from its "core task" of ending Russia's war in Ukraine.

    "China and Russia must be having a field day. They are the ones who benefit from divisions among allies," Kallas said on X.

    "Tariffs risk making Europe and the United States poorer and undermine our shared prosperity. If Greenland’s security is at risk, we can address this inside NATO."

    Ambassadors from the European Union's 27 countries will convene on Sunday for an emergency meeting to discuss their response to the tariff threat.

    (Reporting by Bart Meijer and Phil Blenkinsop, Editing by Mark Potter and Chris Reese)

    Key Takeaways

    • •EU warns of a dangerous downward spiral due to US tariff threats.
    • •Trump's Greenland purchase demand strains EU-US relations.
    • •Tariffs could harm prosperity on both sides of the Atlantic.
    • •EU remains united against undermining its sovereignty.
    • •Emergency EU meeting planned to address tariff threats.

    Frequently Asked Questions about EU warns of downward spiral after Trump threatens tariffs over Greenland

    1What is sovereignty?

    Sovereignty is the authority of a state to govern itself and make its own laws without interference from outside sources or bodies.

    2What is economic prosperity?

    Economic prosperity refers to the state of flourishing, thriving, and good fortune in a nation's economy, often measured by factors such as GDP, employment rates, and overall wealth.

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