Donald Trump’s Greenland tariffs are no great blow to Europe

Jan 19th 2026|6 min read

EUROPEANS ARE no longer shocked by the threat of tariffs. They know President Donald Trump regards them as a fee for access to the American market, as leverage for American access to their own and as punishment for perceived slights. Since his return to office European businesses have war-gamed tariffs and adjusted their supply chains, sales contracts and distribution channels. Currently EU exports to America incur a 15% tariff; British goods are taxed at 10%. The additional 10% levy threatened by Mr Trump on the Nordic countries, Germany, France, the Netherlands and Britain for sending a tiny number of troops to Greenland, is a further nuisance (see chart). But not much more, so long as escalation is contained.