Donald Trump's return to tariff threats feels familiar. Steel, allies, leverage. Yet, this time, the backdrop is more volatile. The trigger is Greenland's sovereignty. The response from Europe is colder and more resolute. What initially appears as a narrow trade dispute is quickly evolving into a test of trust within the Western alliance.
Trump's warning of tariffs on NATO partners over Greenland has sent shockwaves through Brussels. On paper, the economic impact seems limited. Economists estimate only a marginal hit to European GDP and a slight uptick in US inflation. However, politics rarely conforms to spreadsheet models.
