EU Prepares €93 Billion in Retaliatory Tariffs on US Goods Amid Trump’s Greenland Threat

The European Union is preparing to impose tariffs on €93 billion ($108 billion) of U.S. goods if President Donald Trump implements a 10% tariff on imports from eight European nations starting February 1, 2026, rising to 25% by June. The move follows Trump’s demand for the purchase of Greenland, triggered by joint NATO planning exercises involving Denmark and other allies. EU leaders, including French Prime Minister Emmanuel Macron, are pushing to activate the bloc’s anti-coercion instrument—a rarely used tool designed to counter trade coercion. The EU has already approved retaliatory tariffs but suspended implementation pending diplomatic resolution. If enforced, measures would target Boeing aircraft, U.S.-made cars, and bourbon. The European Parliament’s approval of a July trade deal with the U.S. is now blocked, with the European People’s Party joining others in opposition. Bloomberg Economics estimates the tariffs could reduce targeted countries’ exports to the U.S. by up to 50%, with Germany, Sweden, and Denmark most exposed. U.S. Treasury Secretary Scott Bessent dismissed EU concerns, asserting American strategic leverage remains intact.