Following US President Donald Trump's announcement of tariffs on several European nations over the Greenland dispute, European finance ministers are discussing the potential deployment of the EU's anti-coercion instrument and other economic countermeasures.
Danish Economy Minister Stephanie Lose told reporters in Brussels on Tuesday before meeting with other European finance ministers, "We do not wish to escalate the situation, but if the other side continues to escalate, Europe needs to respond. At present, we are not ruling out any options."
She stated that tariffs would harm both the US and EU economies and should be avoided, but the finance ministers will discuss the possible activation of the EU's trade tools and other implementable countermeasures if necessary.
Swedish Finance Minister Elisabeth Svantesson also told reporters in Brussels on Tuesday, "It is both sad and utterly absurd that we have a US President who is extorting us all, trying to take a piece of territory or buy it through threats." She also mentioned that the use of the anti-coercion tool is under consideration.
She added, "We established this tool for a reason. It has been on standby, but will only be used if there is a genuine need. I hope we do not have to use it now."
