Berliner Boersenzeitung - Europe scrambles to respond to Trump tariff threat

EUR -
AED 4.393893
AFN 78.953262
ALL 96.712183
AMD 453.508778
ANG 2.141423
AOA 1096.982427
ARS 1727.451153
AUD 1.698153
AWG 2.153291
AZN 2.038317
BAM 1.958071
BBD 2.409094
BDT 146.15954
BGN 2.008985
BHD 0.450954
BIF 3552.929735
BMD 1.196273
BND 1.513155
BOB 8.264587
BRL 6.209182
BSD 1.196087
BTN 110.048653
BWP 15.598093
BYN 3.378819
BYR 23446.943706
BZD 2.40559
CAD 1.614436
CDF 2700.552296
CHF 0.916189
CLF 0.026045
CLP 1028.388088
CNY 8.312181
CNH 8.311936
COP 4359.217493
CRC 591.786453
CUC 1.196273
CUP 31.701225
CVE 110.804782
CZK 24.31101
DJF 212.601738
DKK 7.467074
DOP 75.365224
DZD 154.565403
EGP 56.018941
ERN 17.94409
ETB 186.066631
FJD 2.620557
FKP 0.868017
GBP 0.866818
GEL 3.223992
GGP 0.868017
GHS 13.105188
GIP 0.868017
GMD 87.921452
GNF 10468.58156
GTQ 9.177646
GYD 250.240271
HKD 9.337171
HNL 31.565615
HRK 7.533166
HTG 156.781862
HUF 380.306994
IDR 20082.72598
ILS 3.701501
IMP 0.868017
INR 109.882846
IQD 1566.917574
IRR 50392.985067
ISK 145.000343
JEP 0.868017
JMD 187.6777
JOD 0.848092
JPY 183.222907
KES 154.40293
KGS 104.613833
KHR 4810.580119
KMF 492.864764
KPW 1076.725699
KRW 1713.94742
KWD 0.366574
KYD 0.996756
KZT 600.856975
LAK 25728.844638
LBP 107110.745044
LKR 370.069269
LRD 221.276674
LSL 18.872091
LTL 3.532282
LVL 0.723613
LYD 7.513716
MAD 10.831664
MDL 20.118337
MGA 5353.320097
MKD 61.634363
MMK 2512.666424
MNT 4266.975685
MOP 9.616255
MRU 47.712345
MUR 54.011532
MVR 18.494352
MWK 2074.00578
MXN 20.611939
MYR 4.698357
MZN 76.274769
NAD 18.872091
NGN 1660.235465
NIO 44.021063
NOK 11.418823
NPR 176.078245
NZD 1.969161
OMR 0.459945
PAB 1.196087
PEN 4.00004
PGK 5.19803
PHP 70.595039
PKR 334.579101
PLN 4.204623
PYG 8026.310264
QAR 4.360258
RON 5.097551
RSD 117.40341
RUB 90.022504
RWF 1745.124288
SAR 4.486872
SBD 9.663103
SCR 16.582304
SDG 719.559071
SEK 10.538893
SGD 1.512627
SHP 0.897514
SLE 29.066997
SLL 25085.238207
SOS 682.391552
SRD 45.462545
STD 24760.428343
STN 24.528452
SVC 10.46614
SYP 13230.266835
SZL 18.865884
THB 37.449369
TJS 11.171559
TMT 4.186954
TND 3.425373
TOP 2.880337
TRY 51.937248
TTD 8.118417
TWD 37.536041
TZS 3068.439642
UAH 51.190079
UGX 4254.935589
USD 1.196273
UYU 45.262503
UZS 14554.8832
VES 428.83521
VND 31103.08859
VUV 143.037152
WST 3.250046
XAF 656.718773
XAG 0.010292
XAU 0.000222
XCD 3.232987
XCG 2.155701
XDR 0.815887
XOF 656.718773
XPF 119.331742
YER 285.195798
ZAR 18.827632
ZMK 10767.891779
ZMW 23.652436
ZWL 385.199301
  • SCS

    0.0200

    16.14

    +0.12%

  • CMSC

    0.0100

    23.71

    +0.04%

  • BCC

    -0.5500

    80.3

    -0.68%

  • RBGPF

    0.0000

    82.4

    0%

  • NGG

    0.3900

    85.07

    +0.46%

  • GSK

    0.5600

    50.66

    +1.11%

  • RIO

    1.7600

    95.13

    +1.85%

  • AZN

    -0.6300

    92.59

    -0.68%

  • CMSD

    0.0392

    24.09

    +0.16%

  • BCE

    0.2200

    25.49

    +0.86%

  • BTI

    0.0600

    60.22

    +0.1%

  • JRI

    -0.0500

    12.94

    -0.39%

  • RELX

    -1.2100

    36.17

    -3.35%

  • VOD

    0.1400

    14.71

    +0.95%

  • RYCEF

    -0.1700

    16.43

    -1.03%

  • BP

    0.3400

    38.04

    +0.89%

Europe scrambles to respond to Trump tariff threat
Europe scrambles to respond to Trump tariff threat / Photo: Alessandro RAMPAZZO - AFP

Europe scrambles to respond to Trump tariff threat

European leaders on Sunday hit back at US President Donald Trump's threat of tariffs over their opposition to his designs on Greenland, with far-right Italian leader Giorgia Meloni urging Washington against making a "mistake".

Text size:

Trump has made no secret of his desire to seize the vast Arctic island, an autonomous territory of Denmark, since returning to the White House for a second term, and a ramping up of this claim in recent weeks has deeply shaken transatlantic relations.

He again upped the ante on Saturday, threatening to punish eight European countries with tariffs after they sent a few dozen troops to Greenland as part of a military drill.

Meloni, who has a good relationship with Trump, said she had told him it was a "mistake" to punish Europe economically.

"I believe that imposing new sanctions today would be a mistake," she told journalists during a trip to Seoul, adding that "I spoke to Donald Trump a few hours ago and told him what I think."

However, Meloni also sought to downplay the conflict, telling journalists "there has been a problem of understanding and communication" between Europe and the United States on Greenland.

She said it was up to NATO to take an active role in the growing crisis.

British Prime Minister Keir Starmer is planning to discuss the situation with Trump "at the earliest opportunity", UK Culture Minister Lisa Nandy told the BBC, calling the president's tariff threat "wrong".

"We believe it's deeply unhelpful, and we believe it's counterproductive, and the prime minister has not shied away from making that clear," she said.

French President Emmanuel Macron meanwhile called on the European Union to combat the threatened tariffs by deploying its powerful "anti-coercion instrument".

- Bring out the 'bazooka'? -

That weapon -- never used before and dubbed the EU's trade "bazooka" -- allows for curbing imports of goods and services.

Trump has threatened to impose a 10-percent tariff from February 1 on all goods sent to the United States from Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands and Finland.

That levy would then be increased to 25 percent on June 1 "until such time as a deal is reached for the complete and total purchase of Greenland", the US president said.

The EU, which clinched a deal in July for most EU exports to face a 15-percent US levy, has called an extraordinary meeting of its ambassadors in Brussels on Sunday.

EU Commission chief Ursula von der Leyen and Antonio Costa, president of the European Council, warned Saturday that tariffs would "undermine transatlantic relations and risk a dangerous downward spiral".

- 'Blackmail' -

Thousands of people in Greenland's capital Nuuk, Copenhagen and other Danish cities protested against the prospect of US annexation on Saturday.

Denmark's Foreign Minister Lars Lokke Rasmussen announced Sunday he would visit fellow NATO members Norway, the UK and Sweden in the coming days to discuss the alliance's Arctic security policy.

France's Agricultural Minister Annie Genevard warned that tariffs would hurt Washington, too.

"In this escalation of tariffs, (Trump) has a lot to lose as well, as do his own farmers and industrialists," she told broadcasters Europe 1 and CNews.

Dutch Foreign Minister David van Weel meanwhile called Trump's threat an "inexplicable" form of "blackmail".

burs-cc/jhb

(G.Gruner--BBZ)