EU wants to revive trade ties with the US, but warned the bloc will stand up for its interests. It also announced after an emergency summit that it will double its investment in Greenland. European Council President Antonio Costa has said that the EU leaders believe "it’s very important to preserve and cherish our transatlantic partnership." He made the comments after chairing an emergency summit in Brussels late on Thursday.
The evening meeting was called to reassess ties with United States over President Donald Trump’s treats to annex the semi-autonomous Danish territory of Greenland and impose tariffs on select EU nations. But on the eve of the summit, while attending the World Economic Forum in Davos, Trump suspended his tariff threats and said he wouldn’t use force to take the Arctic island. The summit didn’t make any decision. But Costa said the priority now must be to implement the EU-US trade deal agreed in July, 2025. The US is the EU’s biggest trading partner. "The goal remains the effective stability of the trade relations," Costa told reporters. At the same time, Costa warned that the EU "will continue to stand up for its interests and will defend itself, its member states, its citizens and its companies against any form of coercion."
EU aims to double financial support to Greenland
Speaking after the summit, European Commission President Ursula von der Leyen has admitted that Europe has invested "too little in the Arctic and the security of the Arctic." In the next EU budget from 2028, the Commission also wants to double financial support for Greenland, she said.She said her team "will soon put forward a comprehensive package of investments," in Greenland without elaborating what these could be.
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