The Guardian Newspaper reports Europe could use a “big bazooka” in response to President Donald Trump’s threats of tariffs if he isn’t allowed to purchase Greenland.
Trump is threatening tariffs of 10% to goods shipped from Denmark, Norway, Sweden, the UK, France, Germany, the Netherlands and Finland on Feb. 1. If a deal is not reached on June 1, tariffs will rise to 25%.
The big bazooka response is an anti-coercion instrument that allows the European Union to impose trade sanctions like excluding an aggressor’s companies from the market, ending intellectual property protections and much more.
Another course of action could entail reactivating levies on U.S. goods like bourbon or soy beans. These measures were considered in response to Trump’s earlier tariff threats.
