There are those who dismiss the specter of the 93 billion euro economic bazooka against the United States and those who instead claim its use. The date February 6 is circled in red on the calendar, when the frozen counterduties would automatically come into effect the day after the trade agreement reached between Ursula Von der Leyen and Donald Trump on July 27 in Scotland.
Weber: “The European Parliament will suspend the agreement with the USA”
There are numerous voices pushing for the adoption of the European countermeasure, first and foremost the French president Emmanuel Macron and the leader of the EPP group Manfred Weber. Judging the tariffs that Trump wants to impose from February 1st on the eight countries that have sent military contingents to Greenland, Weber launches a harsh blow: “The European Chamber will suspend the agreement on tariffs with the USA”, i.e. the agreement reached in Trump’s Scottish golf club last summer. Reiterating that the suspension of the ratification of the EU-US trade agreement “is a heavy tool, because even with this tool Trump will not get what he wants to have”, Weber underlines that “all the tools” are on the table, including the commercial bazooka.
The economic bazooka against Trump: what European (and Italian) companies risk
The EU is trying in every way to lower tension and aims to exploit the framework of the Davos summit to push the US president to back down.
Von der Leyen’s vision: “Geopolitical shocks are an opportunity for the EU”
It is precisely from the Swiss city that it emerges how the clash and divisions between the two sides of the Atlantic are increasingly clear. Geopolitical shocks such as tariffs, wars and ultimately tensions with the US over Greenland must be “an opportunity” or, to use the words of Ursula von der Leyen, an opportunity to “build a new independent Europe”.
The President of the European Commission speaks from Davos, where the World Economic Forum is underway, which for 55 years has brought together the most eminent leaders of the moment. And from here he sends a message to Washington: the EU will give a “firm” but “proportionate” response to the measures that the USA should adopt against EU member states after the dispute over Greenland, which belongs to Denmark. For the Commission leader there is no doubt: the sovereignty and integrity of the Danish and Greenlandic territory “are not negotiable”, but Brussels says it is ready to work “side by side with Greenland and Denmark to evaluate how we can further support the local economy and infrastructure”. Europe is pushing to massively increase its investments on the Arctic island. Brussels has allocated a package of around €225 million for Greenland over the period 2021-2027, under the multiannual financial framework, aimed at sustainable development, education and green growth. But the intention at Palazzo Berlaymont is to double the funds for the next 2028-2034 budget cycle, bringing them to over 530 million euros to support development, renewable energy, infrastructure and critical raw materials.
And, responding to the fears expressed by Trump in recent hours, von der Leyen stated that the EU “will collaborate with the United States and all partners for broader Arctic security”. Although he did not mention it, von der Leyen brought to mind the agreement between the United States and Denmark, dating back to 1951, which allows Washington to deploy as many troops as it deems necessary on the Arctic island. Currently the US presence is limited to around 200 soldiers, but in the past the contingent has reached 10 thousand units.
“Additional tariffs error, agreements between allies must be respected”
Von der Leyen returned to the topic of duties. The additional tariffs announced today by the US president against France “are a mistake, especially among long-time allies”. This is what is underlined by the leader of the European executive when commenting on the escalation of Washington, which has threatened duties of up to 200% on French wines and champagne as retaliation in the dispute over Greenland. And he issued a warning. “The European Union and the United States reached a trade agreement last July: in politics, as in business, an agreement is an agreement. And when friends shake hands, it must mean something.”
