President Donald Trump said he would impose a 10 percent tariff on several countries in the EU beginning February 1 as a way to build pressure toward his goal for the United States to purchase Greenland. The tariffs will remain until “a deal is reached for the complete and total purchase of Greenland,” Trump said.
Bracewell’s Josh Zive told Law360 that the latest US tariffs on EU trading partners, which export products that are key for several US industries, could undermine those relationships “at a particularly critical moment,” when the Trump administration is grappling with several sensitive issues.
“At the same time, the administration is seeking to finalize trade agreements, maintain pressure on Russia over Ukraine, counter Chinese economic expansion and encourage sustained economic growth,” Zive said. “Introducing new threats and uncertainty into transatlantic economic relationships under these conditions appears unnecessarily dangerous and unwarranted.”
