But if the U.S. keeps pushing, public opinion turns, and the tariffs are seen as a threat to Greenland and Denmark’s sovereignty, Gemehl says the EU could move ahead. Activation would give the bloc a spectrum of options ranging from restrictions on U.S. companies to mechanisms that could cut into U.S. companies’ profits in Europe.

President Trump’s use of tariffs to annex territory is the logical end point of his belief in exploiting American economic leverage.

The US-EU trade war situation is likely to escalate as the EU retaliates after February 1st, which could cause a major volatility spike. Read what investors need to know.

Tech stocks led broader market declines as investors grew skittish over geopolitical tensions and fears of an AI bubble continued.

Prime Minister Sir Keir Starmer has said a trade war is in "no-one's interest" after Donald Trump threatened to impose a 10% tax on imports from the UK and other countries who oppose his plans to take control of Greenland.

Bitcoin prices traded close to $92,000 on January 19, after the digital currency declined in response to concerns about tariffs involving the U.S. and European Union.

ASML stock was dropping Monday, with the company being arguably Europe’s single most important exporter to the U.S.

For China, the record $1.2 trillion annual trade surplus its authorities reported Wednesday is resounding proof of the resilience of its economy in the face of US trade friction.

Gold jumped to record high and stocks fell on Monday after Donald Trump’s pursuit of Greenland threatened to reignite a trade war with Europe and left transatlantic relations facing their gravest crisis in years.