economy

January 19, 2026

CNBC Daily Open: The EU prepares to respond to Trump's Greenland tariffs

If economic sanctions are designed to apply pressure without firing a shot, then U.S. President Donald Trump has aimed at America's closest military allies.

CNBC Daily Open: The EU prepares to respond to Trump's Greenland tariffs

TL;DR

  • The U.S. is imposing a 10% tariff on imports from eight NATO nations, to rise to 25% until Greenland is purchased.
  • European leaders have condemned the tariffs as "unacceptable" and are considering retaliatory measures.
  • The move threatens the EU-U.S. trade agreement and could lead to a trade war.
  • Markets are showing increased unease, with major U.S. indexes falling.
  • The World Economic Forum is commencing in Davos, with leaders discussing trade and geopolitical tensions.

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