EU considers €93 billion countermeasures against US amid Trump’s statements

The EU is considering far-reaching trade measures, including €93 billion in retaliatory tariffs, to deter Donald Trump from attempting to gain control of Greenland. This was reported by Politico, citing European diplomats and officials.

During a meeting in Brussels on January 18, diplomats from 27 governments emphasized the importance of preparing realistic options to counter Trump if negotiations with Washington do not lead to a quick resolution of the issue.

The European talks were quickly organized after the US president threatened to impose 10% import tariffs from February 1 and increase them from June on six EU countries, as well as the UK and Norway, which he considers an obstacle to his plans for Greenland.

European Council President Antonio Costa said he would convene a summit of EU leaders this week.

As one diplomat familiar with the January 18 negotiations told Politico, Europe is currently considering options—if Trump’s tariffs are imposed, then discussions will focus on what steps to take.

The €93 billion in retaliatory tariffs would be a reactivation of measures that the EU suspended after reaching a trade agreement with the United States in July last year. Such a move could be implemented «very quickly» compared to some of the other options under discussion, according to another source.

An alternative could be to use the EU’s Anti-Coercion Instrument (ACI), designed to punish countries that use their markets as a tool for geopolitical blackmail, several officials said. This is a stronger measure that will cause some concern among more cautious members of the bloc. According to three diplomats, governments have not asked the EC to proceed with deploying this instrument at this stage.

It should be noted that On January 17, Donald Trump announced on social media that imports to the US from the UK, Denmark, Finland, France, Germany, the Netherlands, Norway, and Sweden would be subject to a 10% tariff from February 1, rising to 25% from June 1. The tariffs will remain in effect until «an agreement is reached on the complete and absolute purchase of Greenland.»

US imports from the UK are already subject to a 10% tariff, and imports from the EU are subject to a 15% tariff.

It should be noted that the German automotive industry has become one of the most affected industries in the country due to US tariffs, according to a new expert report by the Cologne Institute for Economic Research.