Key Highlights
- Trump plans to impose a 10% tariff on Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Britain starting February 1.
- The tariff rate will increase to 25% on June 1 if no agreement is reached regarding Greenland.
- Major EU countries condemned the tariff threats as 'blackmail' and warned of a potential economic backlash worth €93 billion against the U. S.
- European leaders reaffirmed their solidarity with Denmark and Greenland amidst the tariff threats.
- Market sentiment has shifted negatively, with the euro hitting a seven-week low against the dollar.
