Europe will move cautiously over Greenland threats
If implemented and sustained for a long period, the new tariffs that President Trump has threatened over the Greenland dispute could cost the euro-zone economy something between 0.2% and 0.5% of GDP, with a bigger hit for Germany. In practice though, we doubt that they will be implemented as advertised. We also think the EU will be cautious in any retaliation in an effort to avoid further escalation.
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