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Trump levels latest threat at Europe as Supreme Court decision on his tariffs loom

President said 10% tariff on Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands and Finland will begin on 1 February and increase to 25% on 1 June

Trump says the US will impose new tariffs on European countries until Denmark hands over Greenland. The president said the tariffs would start at 10% and increase to 25%.

President Donald Trump on Saturday announced he will impose a 10% tariff on eight European countries that have this week sent military personnel to Greenland, a semi-autonomous territory of Denmark that that president is attempting to take over.

President Donald Trump said eight NATO members' U.S. imports will face escalating tariffs "until such time as a Deal is reached for the Complete and Total purchase of Greenland." The tariffs will start at 10% on Feb. 1 and shoot up to 25% on June 1, Trump said.

European member states backed a free-trade agreement with the Mercosur bloc of South America, including Brazil, Argentina, Bolivia, Paraguay, and Uruguay. Some see it as both a political statement and an economic agreement.

The economists said those losses could be recouped if eurozone members lowered barriers to trade in goods and services within the currency area.

The ECB is very unlikely to raise its key interest rate this year, with a weaker dollar among a number of potential developments keeping eurozone inflation low, Bank of France Governor Francois Villeroy de Galhau said.

Germany's export-driven economy faces severe headwinds from US tariffs, euro appreciation, and lost access to cheap Russian energy. German trade surpluses are shrinking, with 2025 exports to the US projected down 7% and overall trade surplus far below 2024 levels.

European stocks are expected to open broadly higher on Tuesday as investors track developments following the U.S.' ouster of Venezuelan leader Nicolas Maduro.