Donald Trump has walked back his threat to impose sweeping US tariffs on eight European countries, claiming he had agreed “the framework of a future deal” on Greenland.
Four days after vowing to introduce steep import duties on a string of US allies over their support for Greenland’s continued status as an autonomous Danish territory, the president backed down.The US will not hit Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland with tariffs of 10% from 1 February after all, Trump wrote on his Truth Social platform. Over the weekend, he had also threatened to lift the tariffs to 25% from 1 june.
The threat had prompted widespread apprehension; criticism from senior European politicians, who declared they “will not allow ourselves to be blackmailed”; and warnings from economists.
European union leaders had threatened to deploy the bloc’s so-called anti-coercion instrument (ACI), otherwise known as the “trade bazooka”, which would have allowed the EU to retaliate in defense of coercion measures through extraordinary trade sanctions.
After what he called a “very productive” meeting with the Nato secretary general, Mark Rutte, on Wednesday, Trump claimed he had formed “the framework” of a deal over Greenland.I am sorry,but the provided text appears to be a fragment of HTML code,specifically related to a YouTube video embed.It does not contain a complete article body in English. It’s a description of how a video is embedded on a webpage, including details about the video itself (ID, title, duration, etc.) and how it should be displayed.
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Trump Backtracks on greenland Tariff Threats After Davos Remarks
President Donald Trump, speaking at the World Economic Forum in Davos on January 21, 2026, signaled a softening of his stance on potential tariffs against NATO allies over the failed Greenland purchase, despite earlier threats to impose them. He acknowledged the concerns of assembled delegates, stating, “You’re all party to them – in some cases, victims to them,” but maintained the situation was “a fair thing.”
This follows a pattern of Trump backing down from aggressive tariff threats. On May 17, 2025, he postponed a “vast wave of tariffs” after initially proclaiming a new era for the US economy. source: The Guardian
The initial threat of Greenland-related tariffs triggered a meaningful downturn in the US stock market. Wall Street experienced its worst trading day as October on Tuesday, January 20, 2026, directly following Trump’s proclamation.
Concerns about Trump’s trade policies extend beyond international relations, with repeated anxieties raised regarding their impact on the US economy.
