00:00Breaking from Europe today, a major transatlantic deal is now on ice.
00:24The European Parliament has frozen a key EU-US trade agreement
00:29and the trigger may surprise you.
00:31It's not just about tariffs, it's about Greenland and power politics.
00:37Let's break this down.
00:39In a dramatic escalation of tensions, the European Parliament has halted work on a massive EU-US trade deal
00:46following controversial comments by US President Donald Trump at the World Economic Forum in Davos.
00:53His remarks, reviving demands over Greenland and coupling them with tariff threats,
00:58have sent shock waves through Brussels.
01:00This is not a small dispute.
01:03Trade between the European Union and the United States is worth over 1.3 trillion euros every year.
01:10So when Europe hits pause, it's a signal, not a gesture.
01:14So why did Greenland change everything?
01:18Greenland is a self-governing territory of Denmark.
01:21And Trump's attempt to link territorial ambitions with trade negotiations has crossed a red line for Europe.
01:28EU lawmakers were blunt.
01:30Sovereignty is not a bargaining chip.
01:33While Denmark may represent a small slice of EU trade, the issue cuts much deeper.
01:39This is about unity.
01:41This is about Europe drawing a line.
01:44Now, what exactly is this frozen deal?
01:47The agreement was finalized last summer in Turnberry, Scotland.
01:51It promised to remove most import duties on American products entering the EU.
01:56In return, the EU would continue zero tariffs on US lobster exports, a deal first struck back in 2020.
02:04The United States, however, would still maintain an average tariff rate of 15%.
02:10Critics in the European Parliament have long called this deal one-sided.
02:15Still, they were prepared to move ahead with safety nets, an 18-month sunset clause, emergency measures to handle import surges.
02:25Key votes were scheduled for January 26th and 27th.
02:29They have now been postponed indefinitely.
02:32And the message from Brussels is unequivocal.
02:35The latest tariff threats have undermined the political basis of this deal, said Trade Committee Chair Bern Lang.
02:42This freeze marks a turning point, a warning that Europe will not negotiate under pressure,
02:48and a reminder that in today's global economy, politics and trade are more intertwined than ever.
02:56The question now, will Washington step back, or will this standoff deepen even further?
03:02The state of Jessie.
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