Wall Street posts biggest daily drop in three months, Trump Greenland tariff threat triggers wide selloff
That's some pain for the American people! We need more pain.
EU moves closer to using its trade bazooka against the US
BRUSSELS — EU leaders have toughened their position and want the European Commission to ready its most powerful trade weapon against the U.S. if Donald Trump doesn't walk back his Greenland threats.
Germany has joined France in saying it will ask the Commission to explore unleashing the Anti-Coercion Instrument at the emergency EU leaders' summit in Brussels on Thursday evening, according to five diplomats with knowledge of the situation.
The procedure is activated when the 1) European Commission examines a potential case of coercion, either on its own initiative or following a substantiated request, and 2) then submits a proposal to the Council of the European Union to determine whether economic coercion exists. 3) If the Council, acting by qualified majority, confirms that coercion is taking place, the Commission engages with the third country to seek a resolution, including through negotiations, mediation, or adjudication. 4) If those efforts fail, the EU 5) may adopt "response measures" such as tariffs, restrictions on trade in goods and services, limits on access to public programmes and financial markets, or measures affecting intellectual property rights and foreign direct investment.[4][14] These restrictions can be targeted at states, companies, or individuals, thereby deploying EU legal authority as leverage.
That's one "when", one "then", two "ifs" and one "may". Greenland will become the 51st state in the time all of that takes, and there is no automatic trigger, only the "may."
Just Do It.
