European Union (EU) member states are considering imposing tariffs on 93 billion euros worth of US goods in response to US President Donald Trump's threats to NATO allies who oppose his plan to take over Greenland, the Financial Times (FT) reports, citing sources.
According to FT sources, the second option involves restricting US companies from the EU market.
According to the report, retaliatory measures are being prepared so that European leaders have negotiating power in key meetings with Trump during the World Economic Forum in Davos this week, Tanjug reports.
The planned measures include a previously prepared list of tariffs, which was suspended until February 6 to prevent escalation, as well as an EU anti-coercion instrument that could restrict American investment and services, including from major technology companies.
The retaliatory package was suspended in August when the EU reached a trade deal with the US, although the report suggests its six-month suspension will expire next month unless the European Commission (EC) extends it.
EU ambassadors met in Brussels to prepare a joint response to Trump's announcement that he would impose ten percent tariffs on products from eight European countries from February 1 due to their activities in Greenland.
Trump has threatened to impose a 10 percent tariff from February 1 on goods from the UK, Norway and six EU countries involved in Arctic military exercises in Greenland.
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