The European Union backed off from triggering a trade \u2018bazooka\u2019 in retaliation for US President Donald Trump\u2019s tariff threats over Greeland during an urgent meeting in Brussels on Sunday, people familiar with the talks told Euronews.<\/p>\n
EU member states want to first prioritise dialogue and diplomacy with the US, and will in the meantime hold off from triggering any retaliatory measures, the sources said.<\/p>\n
The EU could however revive a \u20ac93-billion retaliation package targeting US products if Trump follows through on his threat to slap an additional 10% tariff on eight European countries \u2014 including Denmark, Germany and France \u2014 on February 1, the sources added.<\/p>\n
A decision on whether to reinstate the tariffs, suspended last year, will be taken after that deadline.<\/p>\n
The \u20ac93-billion package was prepared amid uncertainty last year over whether Trump would agree to a EU-US trade deal, and foresees retaliatory EU tariffs of up to 30% on a range of US products from cars to poultry. <\/p>\n
Meanwhile, European Council President Ant\u00f3nio Costa has convened an extraordinary summit of EU leaders in the “coming days.” A source familiar with the matter suggested the summit will take place on Thursday, January 22.<\/p>\n
This is a breaking news story and our reporters will update it with further details.<\/p>\n","protected":false},"excerpt":{"rendered":"The European Union backed off from triggering a trade \u2018bazooka\u2019 in retaliation for US President Donald Trump\u2019s tariff…\n","protected":false},"author":2,"featured_media":704997,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5174],"tags":[11783,2000,112036,20173,299,5187,1699,366],"class_list":{"0":"post-704996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eu","8":"tag-antonio-costa","9":"tag-eu","10":"tag-eu-us-trade-deal","11":"tag-eu-usa","12":"tag-europe","13":"tag-european","14":"tag-european-union","15":"tag-greenland"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115918150822701847","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/704996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=704996"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/704996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/704997"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=704996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=704996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=704996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}