Overview
- President Donald Trump announced 10% tariffs on European countries that deployed troops to Greenland, with the measures slated to begin on Feb. 1.
- European Parliament leader Manfred Weber said the chamber will halt approval of the recent trade agreement, describing it as the strongest tool available now.
- EU officials said their priority is to avoid the new duties, with capitals discussing potential anti‑coercion steps as the dispute widens.
- European stocks fell, led by luxury, autos and technology, while defense shares outperformed and the Stoxx 600 dropped about 1.3%.
- Safe-haven buying pushed gold and silver to new highs, the dollar weakened against the euro and sterling, oil and European gas prices eased, and Italy’s BTP‑Bund spread held near 63 basis points.