President ๐๐ผ๐ป๐ฎ๐น๐ฑ ๐ง๐ฟ๐๐บ๐ฝ has officially canceled his threat to impose new tariffs on several European countries. The announcement comes after talks with ๐ก๐๐ง๐ข Secretary-General Mark Rutte at the World Economic Forum in Davos, where they reportedly agreed on a โframework of a future dealโ involving Greenland and broader Arctic cooperation. This move means the previously planned ๐ญ๐ฌ% tariffs which could have risen to ๐ฎ๐ฑ% on goods from eight European nations have been put on hold easing tensions across the Atlantic.
Markets reacted positively to the news, with both European and U.S. stocks seeing gains reflecting relief that a potential trade conflict has been avoided for now. The European Parliament had previously paused work on a major U.S.โEU trade deal in response to the tariff threat, so this development could reopen the door for economic cooperation. That said the details of the โframeworkโ are still unclear, and underlying strategic and trade tensions especially around Greenland remain significant.
For now, what looked like the start of a trade war has been de-escalated, but the story is far from over.
