Zürcher Nachrichten - Europe scrambles to respond to Trump tariff threat

EUR -
AED 4.288053
AFN 75.89486
ALL 92.62066
AMD 426.131178
ANG 2.089769
AOA 1071.866673
ARS 1748.172706
AUD 1.639138
AWG 2.103158
AZN 1.977827
BAM 1.967749
BBD 2.351931
BDT 142.696509
BGN 1.980694
BHD 0.440231
BIF 3486.484013
BMD 1.16761
BND 1.490551
BOB 13.492644
BRL 6.045919
BSD 1.167766
BTN 111.759253
BWP 15.771772
BYN 3.551868
BYR 22885.159629
BZD 2.348511
CAD 1.612213
CDF 2653.978212
CHF 0.931397
CLF 0.027343
CLP 1076.139488
CNY 7.857725
CNH 7.857257
COP 3564.935741
CRC 522.562012
CUC 1.16761
CUP 30.94167
CVE 110.776986
CZK 24.171858
DJF 207.507835
DKK 7.475706
DOP 68.830464
DZD 155.110034
EGP 59.144823
ERN 17.514153
ETB 187.839291
FJD 2.566815
FKP 0.862158
GBP 0.858491
GEL 3.087926
GGP 0.862158
GHS 12.966304
GIP 0.862158
GMD 85.822074
GNF 10245.779009
GTQ 8.91092
GYD 244.308305
HKD 9.154292
HNL 31.385462
HRK 7.533768
HTG 152.737482
HUF 364.207969
IDR 20803.310669
ILS 3.476034
IMP 0.862158
INR 111.502394
IQD 1530.153148
IRR 1604996.960374
ISK 142.191803
JEP 0.862158
JMD 184.52048
JOD 0.82787
JPY 184.837394
KES 151.135367
KGS 102.107534
KHR 4722.983654
KMF 492.731757
KPW 1050.84951
KRW 1620.362388
KWD 0.359916
KYD 0.973109
KZT 539.393861
LAK 26301.58643
LBP 104559.491772
LKR 386.466777
LRD 211.512574
LSL 18.90372
LTL 3.447649
LVL 0.706276
LYD 7.414139
MAD 10.797184
MDL 20.138288
MGA 5020.72372
MKD 61.519741
MMK 2451.10096
MNT 4200.070013
MOP 9.431048
MRU 46.832636
MUR 54.853835
MVR 18.04
MWK 2026.971232
MXN 19.794356
MYR 4.720762
MZN 74.604483
NAD 18.796701
NGN 1576.577256
NIO 42.816975
NOK 10.893564
NPR 178.818858
NZD 1.967248
OMR 0.448964
PAB 1.167766
PEN 3.928428
PGK 5.156458
PHP 72.095841
PKR 324.11421
PLN 4.319767
PYG 7024.656458
QAR 4.254721
RON 5.24631
RSD 117.291138
RUB 98.083935
RWF 1712.884142
SAR 4.385776
SBD 9.378546
SCR 16.604807
SDG 702.30436
SEK 11.022543
SGD 1.484546
SHP 0.865043
SLE 28.733085
SLL 24484.200875
SOS 667.295778
SRD 44.067961
STD 24167.173437
STN 24.957668
SVC 10.217916
SYP 15181.267518
SZL 18.777984
THB 38.374694
TJS 10.772283
TMT 4.086636
TND 3.382858
TOP 2.811325
TRY 55.988658
TTD 7.920929
TWD 37.164798
TZS 3091.511839
UAH 52.211075
UGX 4355.354158
USD 1.16761
UYU 46.804213
UZS 13798.23957
VES 906.584331
VND 30568.618452
VUV 138.029605
WST 3.17111
XAF 659.964563
XAG 0.0174
XAU 0.000259
XCD 3.155525
XCG 2.104553
XDR 0.825561
XOF 659.700147
XPF 119.331742
YER 276.811225
ZAR 18.797677
ZMK 10509.895564
ZMW 21.865307
ZWL 375.970003
  • CMSC

    0.0580

    21.298

    +0.27%

  • RBGPF

    1.2400

    69.89

    +1.77%

  • BTI

    -0.4000

    55.98

    -0.71%

  • BP

    0.3200

    43.73

    +0.73%

  • BCE

    0.3400

    23.7

    +1.43%

  • GSK

    1.7300

    52.88

    +3.27%

  • RIO

    3.7500

    100.44

    +3.73%

  • NGG

    -1.4900

    80.66

    -1.85%

  • RYCEF

    -0.6500

    20.6

    -3.16%

  • RELX

    0.5900

    35.1

    +1.68%

  • BCC

    2.9500

    83.13

    +3.55%

  • CMSD

    0.0600

    21.15

    +0.28%

  • JRI

    -0.0600

    12.38

    -0.48%

  • VOD

    0.0400

    16.17

    +0.25%

  • AZN

    4.8500

    164.95

    +2.94%

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

O.Pereira--NZN