Overview
- Tariffs are scheduled to take effect on Feb. 1 at 10% and rise to 25% on June 1 if no agreement on Greenland is reached.
- Targets include Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, explicitly tied to support for Denmark’s hold on Greenland.
- Global stocks fell as the dollar eased against the Swiss franc and yen, while gold and silver jumped to record highs and U.S. futures retreated during the holiday closure.
- European leaders condemned the move, with options under discussion that include reinstating a suspended €93 billion tariff package and deploying an Anti‑Coercion Instrument that could hit services or investment.
- Strategists warn of a higher political risk premium on U.S. assets and a revived ‘sell America’ trade, with investors watching signals from upcoming meetings in Davos for signs of escalation or de‑escalation.