Greenland crisis Voices about the threat

The warning: Trump's tariff threat could lead to a global trade war

Donald Trump's tariff threat linked to the US's claim to Greenland risks triggering a global trade war, warns SEB's senior economist Robert Bergqvist.

- The outside world will respond harshly, perhaps with tariffs. We have already seen threats from the EU to lower the trade agreement with the US. We are starting to reach some kind of limit now, he tells TT.

Support for the US line is non-existent internationally and several NATO countries have joined forces behind Denmark. According to Bergqvist, the move is partly a way to create uncertainty, but he warns that the threats should not be dismissed.

To slow down the development, stronger reactions are needed within the US – both politically and from the financial market.  

Analysis: EU risks being drawn into an economic war of attrition with the US

Donald Trump's previous tariff threats have previously strengthened European cohesion against what is perceived as his bullying behavior, writes Danish TV2's Ole Krohn.

"If Trump's threat of punitive tariffs becomes reality, Denmark, together with our allies, will be drawn into a kind of economic war of attrition against the US."

The US Supreme Court is currently investigating the question of the legality of the tariffs, so there is still a chance that they will be stopped, he adds.

Trump may find it difficult to impose tariffs only on the European countries he points out in his post - the Nordic countries, France, Germany, the UK and the Netherlands, writes DR's economic correspondent Casper Schrøder.

"In practice, he cannot target individual countries in the EU customs union. If one country is affected, all are affected."

This is far from the first time Trump has used tariffs as a foreign policy weapon. For him, they mean much more than the economic benefits he claims they bring the US, writes Bernd Debusmann Jr for the BBC.

“In some ways, they have replaced traditional diplomacy and foreign policy as the US’s first choice.”

The tariffs are a “disaster” for British Prime Minister Keir Starmer, who “invested so much in developing his supposedly special relationship with Donald Trump,” says Sky News political correspondent Amanda Akass.

Experts: US no longer interested in having good relations with allies

That Donald Trump is threatening to impose tariffs on eight European allies in order to buy Greenland is “stupidity.” Political scientist Iver B Neumann tells Norwegian newspaper VG.

– This shows that the US is no longer interested in maintaining good relations with its allies.

He is supported by US expert Eirik Løkke at the Civita think tank. He tells the newspaper that Trump's threats to "take over Greenland" are "crazy".

- Trump is destroying NATO.

Robert Bergqvist, senior economist at SEB, tells SvD that the risks of a global trade war are increasing after Trump's threat.

- When the stakes are so high, it is difficult to see that there will not be a reaction from Europe as well, he tells the newspaper.

Bildt: Trump's threat will likely lead to the collapse of the trade agreement

Donald Trump's threat to impose tariffs on Sweden and other countries in order to buy Greenland will in all likelihood mean the end of the trade agreement between the EU and the US, writes former Prime Minister Carl Bildt on X.

"The confrontation is starting to heat up", he writes.

Trump writes on Truth Social that eight countries will be subject to tariffs from February 1. On June 1, the tariff rate will increase to 25 percent. The president criticizes the countries for sending military personnel to Greenland.

Trump repeats his claims that Russia and China want Greenland and that Denmark is incapable of defending the territory.