#TrumpCancelsEUTariffThreat As of January 22, 2026, the situation regarding Trump's tariffs on the European Union has shifted from a massive escalation to a sudden de-escalation within the last 24 hours.

The Recent "Greenland" Tariff Crisis

On January 17, 2026, President Trump shocked global markets by announcing a new round of tariffs specifically targeting countries he believed were blocking his ambition to purchase Greenland.

Initial Threat: A 10% tariff was set to take effect on February 1, 2026, on all goods from Denmark, France, Germany, the UK, the Netherlands, Finland, Norway, and Sweden.

Escalation Clause: Trump stated these would rise to 25% on June 1, 2026, unless a deal for the "complete and total purchase" of Greenland was reached.

EU Response: Brussels immediately threatened to use its "Anti-Coercion Instrument" (the so-called "trade bazooka"), preparing retaliatory tariffs on roughly €93 billion of American goods.

Current Status: Cancellation of Threats

In a rapid turn of events yesterday (January 21, 2026), President Trump announced he is cancelling these specific tariff threats.