The EU could deploy a “trade bazooka” against Washington if its interests are not respected, the French president has warned
The US is seeking to “weaken and subordinate” Europe through economic competition, French President Emmanuel Macron has said.
Speaking at the World Economic Forum in Davos on Tuesday, Macron stated that “trade wars and protectionist escalation will only produce losers” and urged European leaders to defend themselves as the region faces what he called an unprecedented moment of instability.
“Competition from the United States of America through trade agreements that undermine our export interests, demand maximum concessions, and openly aim to weaken and subordinate Europe, combined with an endless accumulation of new tariffs that are fundamentally unacceptable,” he said.
The remark follows US President Donald Trump’s threat to impose new tariffs against any country opposing his Greenland annexation plans. Last week, Trump announced an additional 10% tariff on eight European NATO countries that deployed small military contingents to Greenland, an autonomous Danish territory, intensifying tensions between the US and Europe.
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EU loads ‘trade bazooka’ in Greenland clash with Trump
Macron claimed that the EU has “very powerful” trade tools and must use them when it is “not respected,” referring to the bloc’s Anti-Coercion Instrument – dubbed the “trade bazooka” – in response to Trump’s escalating threats over Greenland.
The bloc is also considering reviving a suspended €93 billion ($108 billion) package of retaliatory tariffs on American goods. The measures were drawn up last year after Trump’s initial tariff salvo but were shelved following a tentative transatlantic trade deal, with an EU diplomat telling Reuters earlier this week they could automatically snap back into force on February 6 if no agreement is reached.
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