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EU Ambassadors Reportedly Consider Additional Tariffs on US$100B of US Goods in Response to Greenland Tariffs
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EU ambassadors reached a broad consensus yesterday (18th) to dissuade US President Donald Trump from imposing tariffs on European allies over the Greenland issue, while also preparing countermeasures, according to Reuters. EU leaders will hold an emergency summit in Brussels on Thursday (22nd) to discuss response strategies. One option is to impose tariffs on EUR93 billion (US$107.7 billion) worth of US imports, with the measures set to automatically activate on 6 February. Another option is to use the 'Anti-Coercion Instrument' (ACI) for the first time, which could restrict US participation in public tenders, investments or banking activities, or limit trade in services, including digital services. Compared to the current divergent opinions on anti-coercion measures, the tariff option seems to have broader support as an initial response, the report quoted sources as saying. AASTOCKS Financial News Website: www.aastocks.com |
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