\n
<\/div>\n
Live<\/span>70 updates<\/span><\/div>\n
- \n
- \n\n\n\n<\/div>\nFeatured<\/div>\n<\/div>\n<\/div>\n\n\n
<\/div>\n
In an abrupt about-face on Wednesday, President Trump said he was calling off planned tariffs on European nations over his pursuit of Greenland. Trump cited the “framework of a future deal” reached with NATO Secretary General Mark Rutte.<\/p>\n
“This solution, if consummated, will be a great one for the United States of America, and all NATO Nations. Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st,” Trump wrote on Truth Social.<\/p>\n
The turn in direction came after Trump arrived at the World Economic Forum in Davos, Switzerland, on Wednesday, with his revived tariff threats against allies over his pursuit of Greenland\u00a0having roiled markets\u00a0and upended trading relationships forged just months earlier.<\/p>\n
In a keynote address, Trump said he was seeking “immediate negotiations” over Greenland but also appeared to rule out the use of force to acquire the Danish territory.<\/p>\n
“You can say yes, and we will be very appreciative, or you can say no, and we will remember,” Trump said.<\/p>\n
NATO Chief Mark Rutte\u00a0said\u00a0a deal with Trump was secured after discussing the security of the Arctic region, prompting Trump to immediately scrap his tariff threats against European allies.<\/p>\n
Trump over the weekend said the US would implement 10% tariffs on eight European countries that he says are getting in the way of a US purchase of Greenland, rising to 25% on June 1 if no agreement is in place. The tariffs would begin Feb. 1 and apply to “any and all goods sent to” the US. Europe hit back at Trump on Wednesday by\u00a0putting\u00a0its trade deal with the US on hold. The European Parliament decided to freeze a ratification vote in response to Trump’s threat to take over Greenland.<\/p>\n
EU capitals have also entered discussions to implement tariffs of up to $108 billion on American products after\u00a0Trump posted his plan to levy new tariffs on Europe on Saturday. But Trump predicted that his Greenland pursuit would not force the bloc to rethink its trade agreement with the US or its pledged investments in the country.<\/p>\n
Meanwhile, the US Supreme Court’s first three opportunities to issue a verdict this year on the implications and legality of Trump’s global duties on trade partners have come and gone without a decision. The high court did not hand down a ruling on Tuesday, and it is unclear when it could rule next.<\/p>\n
Read more:\u00a0<\/em>What Trump promised with his ‘Liberation Day’ tariffs \u2014 and what he delivered<\/em><\/p>\n\n<\/div>\nLive<\/span>70 updates<\/span><\/div>\n\n
\n\n\n<\/div>\nFeatured<\/div>\n<\/div>\n<\/div>\n\n\n<\/div>\n