The European Parliament has officially suspended the US trade deal ratification, directly responding to President Trump’s threat of 10% tariffs unless Europe backs his Greenland acquisition plans. This decision represents the most substantial material response Brussels has delivered against what multiple European leaders characterized as blackmail.
Trade committee head Bernd Lange made the EU’s position unambiguous, declaring that compromise remains impossible while threats concerning Greenland persist. The suspended agreement had promised American exporters unprecedented access to European markets with zero tariffs on numerous industrial goods.
Despite the trade deal suspension, the EU’s commitment to purchase $750 billion in American energy remains fully operational. Lange confirmed this energy arrangement exists independently from the tariff negotiations, demonstrating Brussels’ selective approach to the crisis.
The deteriorating diplomatic atmosphere became evident when Ursula von der Leyen, president of the European Commission, revised her travel plans following her parliamentary address. She cancelled a Davos visit that could have resulted in a Trump meeting, returning directly to Brussels to prepare for an emergency summit.
The Thursday evening emergency gathering will examine Brussels’ full array of potential countermeasures, including deploying a retaliatory tariff package worth €93 billion (£81 billion sterling). Additionally, leaders may activate an anti-coercion instrument never before used in practice. Originally designed to counter Chinese economic pressure, this nuclear option could enable the EU to restrict American businesses from accessing European markets. Potential targets range from technology companies like Apple and Netflix to cryptocurrency platforms, aircraft manufacturers, and agricultural exporters, though European officials acknowledge consumers might face increased costs.