President Donald Trump announced he will hold a meeting at the World Economic Forum in Davos to discuss Greenland, after speaking with NATO Secretary General Mark Rutte, escalating geopolitical tensions between the United States and its European allies.
Trump stressed that Greenland is important to national and global security, while rejecting any possibility of backing down from his stance. The move is seen as a diplomatic concern in Europe.
At the same time, Trump threatened to impose tariffs of up to 200% on French wine and champagne after President Emmanuel Macron refused to join his peace initiative, thus adding to the strain on transatlantic trade relations.
In response, European Union countries are considering retaliatory tariffs of up to US$108 billion on American goods, after Trump announced 10% tariffs on eight European countries from February 1, with the threat of an increase to 25% in June if no deal is reached.
Meanwhile, uncertainty continues as the US Supreme Court has yet to rule on a case regarding Trump's authority to impose global tariffs, a decision that could have a major impact on trade policy and global market stability.
