**đïž What happened (Today):**
U.S. President Donald Trump has **reversed plans to impose punitive tariffs on several European countries**, scrapping measures that were set to take effect soon.
The decision follows a **âframeworkâ diplomatic understanding with NATO leadership**, centered on **Arctic security and Greenland**.
**đ Context:**
* The tariff threat was part of Trumpâs aggressive stance on **Greenlandâs strategic role** and U.S. involvement in Arctic security.
* EU leaders viewed the move as **coercive**, raising fears of a broader **transatlantic trade conflict**.
* Trumpâs sudden climbdown has been dubbed **âTACO Thursdayâ** (âTrump Always Chickens Outâ) by market commentators.
**đ Market & Political Impact:**
* **European and U.S. stocks jumped** as investors priced out near-term trade war risk.
* EU officials expressed **cautious relief**, but warned that trust has been shaken.
* Several European leaders stressed **sovereignty concerns** and the need for more predictable U.S.âEU cooperation.
**â ïž What still worries Europe:**
* The episode exposed **fragile transatlantic relations**
* Ongoing uncertainty around **U.S. foreign policy direction**
* Greenland and Arctic security remain **unresolved pressure points**
**đ Key Takeaway:**
Trumpâs reversal **defuses immediate trade tensions** and supports markets, but **diplomatic scars remain**. The EU sees this as a pauseânot a resetâin U.S.âEurope relations.
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