U.S. President Donald Trump's intensified push to wrest sovereignty over Greenland from fellow NATO member Denmark has prompted the European Union to weigh hitting back with its own measures. - REUTERS
00:03United States Treasury Secretary Scott Besant on Monday said Europe should not retaliate against any measures the U.S. takes in their dispute over Greenland.
00:13As President Donald Trump's intensified push to take control of the island threatens to reignite a trade war with Europe.
00:20Speaking on the sidelines of the World Economic Forum meeting in Davos, Switzerland, Besant urged Europe not to doubt Trump's intentions.
00:28And I think everyone should take the president at his word.
00:32Trump is expected to meet global business leaders in Davos on Wednesday.
00:37His threat to implement a wave of increasing tariffs on eight European nations until the U.S. is allowed to buy Greenland has rattled European industry and sent shockwaves through financial markets.
00:49Investors fear a return to the volatility of 2025's trade war, which only eased when the sides reached tariff deals in the middle of the year.
00:57Norwegian and German leaders say they will try to meet with Trump this week in Davos to discuss the dispute.
01:03EU leaders will also discuss how to respond at an emergency summit in Brussels on Thursday.
01:08One option is a package of tariffs on $108 billion of U.S. imports that could automatically kick in on February 6th after a six-month suspension.
01:18Another option is the anti-coercion instrument, which has never yet been used and which could limit access to public tenders, investments or banking activity, or restrict trade-in services, including digital ones.
01:32The EU said it was continuing to engage at all levels with the U.S., but said the use of its ACI was not off the table.
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